Multibagger Stock Under Rs 100 Hit Lower Circuit; Company Partners with Singapore-based Baya PTE Limited
The stock gave multibagger returns of over 260 per cent from its 52-week low of Rs 26.50 per share.
Emerald Finance Limited (BSE: EMERALD), a leading provider of financial products and services, including its flagship Earned Wage Access (EWA) in India, has announced a strategic partnership with Singapore-based Baya PTE Limited, through its Indian subsidiary. This collaboration is set to significantly bolster bill discounting services for Small and Medium Enterprises (SMEs) in India, providing them with quicker access to working capital and improved cash flow management. The initiative specifically targets SMEs that supply to large corporations such as JSW Steel, Delhivery, PVR INOX, and others, aiming to optimise their receivables cycle and prevent liquidity stress. This partnership underscores Emerald’s commitment to delivering efficient, technology-driven financial solutions to underserved market segments and aligns with its strategic objective of expanding its presence in the burgeoning bill discounting sector.
Emerald Finance recognises the substantial potential within the bill discounting segment and intends to expand this offering as a cornerstone of its long-term growth strategy. With the increasing demand for flexible credit options among SMEs, this partnership with Baya PTE Limited positions Emerald to drive inclusive financial access and solidify its standing within the SME lending ecosystem. By facilitating timely invoice discounting, Emerald is empowering SMEs to maintain business continuity and thrive in a dynamic economic landscape, reinforcing its dedication to supporting the growth and stability of Indian businesses.
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About the Company
Emerald Finance Limited, previously known as Emerald Leasing Finance and Investment Company Limited, is a Chandigarh-based non-deposit-taking NBFC. It focuses on retail and MSME lending and acts as a loan origination platform for over 40 financial institutions through its subsidiary, Eclat Net Advisors Private Limited. Since receiving its NBFC license in 2015, Emerald has broadened its offerings to include personal loans, business loans and Early Wage Access. Emerald's loan origination platform collaborates with numerous financial institutions, serving thousands of customers monthly. Recently, it developed Emerald Early-Wage-Access, a fully digital product providing short-term loans via salary advances, in partnership with employers. This product, inspired by similar trends in the US and Europe, is poised for significant future growth, leveraging Emerald's prior experience in the field.
On Thursday, shares of Emerald Finance Ltd hit a 5 per cent lower circuit to Rs 95.91 per share from its previous closing of Rs 100.95 per share. The stock’s 52-week high is Rs 167.65 per share and its 52-week low is Rs 26.50 per share. The company has a market cap of over Rs 300 crore.
In its annual results, the net sales increased by 15.8 per cent to Rs 13.33 crore and net profit increased by 20 per cent to Rs 4.14 crore in FY24 over FY23. The stock gave multibagger returns of over 260 per cent from its 52-week low of Rs 26.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.