Ugro Capital witnesses strong momentum; disbursals back to pre-COVID level
In its recently released investors’ presentation, Ugro Capital, a technology-based company, which lends loans to small businesses, announced that its disbursals have reached the pre-COVID period.
The company’s USP lies in being specialised SME lenders, having deep sector expertise & reach with a diverse set of lenders, co-origination with three of the largest banks in India being in a better position to bridge the MSME credit gap.
Its major focus in this quarter remains on operationalising the recently inaugurated 25 GRO micro branches across the states of Tamil Nadu, Gujarat, Telangana, Karnataka, and Rajasthan, providing disbursements through its distribution channels.
In Q3FY21, its cumulative disbursements went beyond Rs 2,000 crore. In the same quarter, the value of AUM stood at Rs 1,127 crore, which is a 15 per cent increase over its previous quarter. The net worth of the company stood at Rs 950 crore. In addition to this, the company continues to remain profitable in spite of conservation approach to provisioning and early build out of growth stage.
On Wednesday, the stock price of Ugro Capital witnessed a rise of 9.06 per cent at Rs 123.95 from its previous day’s close of Rs 113.65 on BSE.