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×

utkarsh coreinvest Limited

127.00
-2.31 %
Scrip Name
Utkarsh Core
ISIN No.
INE396P01012
PAN No.
AAECS9298K
Face Value
10
No. of Outstanding Shares
97,398,806
Market Capitalization
1,236.96 Crore

UTKARSH COREINVEST LIMITED UNLISTED SHARE


ABOUT UTKARSH COREINVEST LIMITED


UTKARSH COREINVEST LIMITED (formerly known as Utkarsh Micro Finance Limited) is the holding company of ‘UTKARSH SMALL FINANCE BANK LIMITED’. Utkarsh CoreInvest Limited commenced its operations in 2009 as a microfinance institution to provide financial and non-financial services to the population who were neglected by the traditional banks and financial institutions.


The company was started with credit under the Joint Liability Group (JLG) model in 2009. Later, it started providing Micro Enterprise Loans, Housing Loans, and Micro Pension products. In FY 2016, Utkarsh Micro Finance Bank Limited was granted a license to set up a Small Finance Bank from the Reserve Bank of India. Subsequently, Utkarsh Micro Finance Limited created a subsidiary in the name of ‘Utkarsh Small Finance Bank Limited’. Through a slum sale, the company transferred all its assets and liabilities except some statutory assets, vehicles, and statutory liabilities to Utkarsh Small Finance Bank Limited. Then in 2018, the company was converted from Micro Finance Company to Core Invest Company and changed its name to Utkarsh CoreInvest Limited.


Utkarsh Small Finance Bank Limited is a small finance bank and is engaged primarily in providing banking and financial services to its customers with a focus on underserved and unserved sections of the country. The Bank's lending activities are primarily focused on rural and semi-urban locations of the country while its deposit mobilizations and other services are spread across the country.


The Bank is headquartered in Varanasi, Uttar Pradesh, and its operations are currently spread across 15 States & 2 Union Territories through 507 branches in 173 districts of the country.


INCORPORATION DETAILS


CIN

U65191UP1990PLC045609

Registration Date

15 May 1990

Category/Sub-category of the Company

Public Limited Company

Address of the Registered office and contact details

S-24/1-2, Fourth Floor Mahavir Nagar, Orderly Bazar, Near Mahavir Mandir, Varanasi - 221002,

Uttar Pradesh, India

Mob: +91 7518903414

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

M/s. NSDL Database Management Limited (NDML),

4th Floor, “A” Wing, Trade World

Kamala Mills Compound, Lower Parel,

Mumbai - 400013, Maharashtra, India

Tel: +91-22-2499 4200

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

Business activity Code

% to total turnover of the Company

Other Financial Services

K8

100%

 

BOARD OF DIRECTORS

Mr. G. S.Sundararajan (Non - Executive Independent Director, Chairperson)

Mr. Atul (Independent Director)

Mr. AdityaParekh (Nominee Director)

Mr. GauravMalhotra(Nominee Director)

Mr. HarjeetToor(Nominee Director)

Mr. VishalMehta(Nominee Director)

Mr. AshwaniKumar (Managing Director & CEO)


PARTICULARS OF SUBSIDIARY COMPANIES

Name of the Company

% of shares held

Utkarsh Small Finance Bank Limited

100.00%

Utkarsh Welfare Foundation

78.49%

 

UTKARSH COREINVEST LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

9,73,98,806

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE396P01012

PAN No.

AAECS9298K

Lot Size:

100

Last Traded Price

Rs. 210

Market Cap:

Rs. 2045.37 Crore


SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

CDC Group PLC

1,37,26,978

14.09%

2

RBL Bank Limited

97,02,950

9.96%

3

NMI (NMI Frontier fund KS)

77,02,602

7.91%

4

Faering Capital India Evolving Fund II

76,60,082

7.86%

5

Retail Shareholders

70,79,169

7.27%

6

Hero Enterprise Partner Ventures

48,45,496

4.97%

7

Others

4,66,81,529

47.94%


Total

9,73,98,806

100.00%


INDUSTRY OUTLOOK

 

The banking industry plays a vital role in mobilizing savings and stimulating the economic development of a nation. A new wave of change, more powerful and widespread than seen in recent years is expected to unfold in the banking sector in the coming decade. The Bank’s overall credit growth moderated to 6.8% in FY 2019-20 primarily on account of sluggishness in credit to industries and large corporates while retail credit growth remained healthy at 15% during FY2019-20.


Although there are lots of players present in the microfinance landscape and mature models of microlending, with a significant portion of its population in the low-income band, India represents a huge opportunity for the microfinance sector. Microfinance currently reaches less than 20% of potential households. So, there is still a large gap to be met in terms of the reach of microfinance.


2020 was a year mainly dominated and impacted by COVID-19. Small Finance Banks are beginning to feel the effect of local and state-wise lockdowns. However, small finance banks are better prepared this year (2021) in the second wave of the COVID 19 pandemic. Rural customers of Small Finance Banks are less affected by the second wave of COVID 19. There have been delays in collections, but collections have been hit only 1-3% in this second wave of COVID.


The collection capacity of the small finance bank industry improved to around 102%. The Indian microfinance market is expected to grow at a CAGR of more than 40% through 2025. South India accounts for more than one-third of the market share of the Microfinance industry.


The advances and deposits in the Small Finance Bank industry have increased with the CAGR of 75.3% and 155.3% respectively during the period FY16-FY20. It is expected to grow with a CAGR of 23-24% during the period FY20-FY23. SFBs’ share in the total banking industry has increased from 0.3% in FY19 to 0.5% in FY20 in the case of credit, and deposits share has increased from 0.6% in FY19 to 0.9% in FY20, and reporting offices share has increased from 1.5% in FY19 to 2.8% in FY20.

 

KEY FINANCIALS OFUTKARSH COREINVEST LIMITED (In Rs. Crores)

 

Particulars

2020

2019

2018

Revenue from Operations

1,352.92

932.57

522.36

EBITDA

850.46

416.85

143.53

EBITDA margin

62.86%

44.70%

27.48%

Finance Cost

589.53

460.64

313.94

Depreciation

48.81

18.56

14.37

Other Income

64.21

44.10

30.85

Profit Before Tax

276.32

-18.25

-153.93

Total Tax

73.81

70.61

11.19

Profit After Tax (PAT)

202.51

-88.85

-165.12

EPS

20.89

-79.46

-163.18

 

BALANCE SHEET OFUTKARSH COREINVEST LIMITED (In Rs. Crores)

 

Particulars

2020

2,019

ASSETS



FINANCIAL ASSETS



Cash and Cash Equivalents

1,616.05

518.95

Derivative financial instruments

2.58

1.51

Loans

6,563.33

4,639.64

Investments

1,240.23

875.34

Other financial assets

35.53

17.98

TOTAL FINANCIAL ASSETS

9,457.72

6,053.42

NON FINANCIAL ASSETS



Tax assets

53.65

45.35

Tangible assets

252.10

74.15

Intangible assets

22.00

16.02

Other non financial assets

37.80

19.33

TOTAL NON FINANCIAL ASSETS

365.55

154.84

TOTAL ASSETS

9,823.26

6,208.27

EQUITY AND LIABILITIES



EQUITY



Equity Share capital

97.40

97.20

Other Equity

985.12

754.08

Non Controlling Interest

0.23

0.19

TOTAL EQUITY

1,082.75

851.47

LIABILITIES



FINANCIAL LIABILITIES



Deposits

5,427.58

3,832.21

Debt securities

0.00

320.06

Borrowings (Other than debt)

3,012.31

940.47

Subordinated liabilities

197.79

197.61

Other financial liabilities

88.82

56.64

TOTAL FINANCIAL LIABILITIES

8,726.50

5,346.99

NON FINANCIAL LIABILITIES



Tax liabilities

0.00

1.35

Provisions

5.03

2.52

Other non financial liabilities

8.99

5.94

TOTAL NON FINANCIAL LIABILITIES

14.01

9.81

TOTAL LIABILITIES

8,740.51

5,356.80

TOTAL EQUITY AND LIABILITIES

9,823.26

6,208.27

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Crores)

-169.38

-320.62

-206.06

 

PERFORMANCE OF THE COMPANY

As on March 31, 2020, the Utkarsh Small Finance Bank'soutstanding loan portfolio increased by 40.46% Year on Year to Rs. 6,660 crores.


During FY2020, The bank expanded its microfinance presence to the state of Odisha, increasing overall microfinance reach to 11 states as of March 31, 2020.


During the year, the Bank's microfinance loan client number extended to more than 25 lakhs spread over 135 districts of 11 states and served through 404 MicroBanking Outlets.


Microfinance loan portfolio (AUM) of the bank mobilized through its own network increased by 44% in FY2020 from Rs. 4,077 crores as of March 31, 2019, to Rs. 5,856 crores as of March 31, 2020.


The total loan portfolio of the MSME vertical that also includes personal loans grew by 49.28% from Rs. 164.93crore in FY2019 to Rs. 246.21 crore in FY2020.


The Bank's total deposit base increased by 38.08% during FY2019-2020 to Rs. 5,235.21 crore as of March 31, 2020, from Rs. 3,791.39 crore as of March 31, 2019.


The bank’s CASA (Current Account & Savings Account) grew by 86.24% to Rs. 706.66 crore as of March 31, 2020, from Rs. 379.44 crore as of March 31, 2019.


Retail Term Deposits grew by 119.73% to Rs. 1,814.52 crore as onMarch 31, 2020 from Rs. 825.78 crore as of March 31, 2019.


Revenue from Operations of Utkarsh CoreInvest Limited increased by 45.07% from Rs. 932.57 Crores in FY 2019 to Rs. 1,352.92 Crores in FY 2020.


EBITDA of the Utkarsh CoreInvest Limited increased by 104% from Rs. 416.85 Crores in FY 2019 to Rs. 850.46 Crores in FY 2020.


In FY 2019, Utkarsh CoreInvest Limited incurred a loss of 88.85 Crores, which turned into a profit of Rs. 202.51 Crores in FY 2020.


Utkarsh CoreInvest Limited has not given any dividend from the past three years.







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Annual Reports

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2019-20

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2018-19

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2017-18

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2016-17

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Corporate Actions

2020-21

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Utkarsh Small Finance Bank - DRHP Dated July 29, 2022

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Utkarsh CoreInvest Limited (UCL) Notice of AGM August 25, 2022

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