• Banking / Finance

Profectus Capital announces Financial results for the fiscal year ended 31st March 2023

• nationalherald
• May 22, 2023

by Prashant Kapadia/NHN

• Net Profit Before Tax for the year up at Rs 40 crores, 248% rise.

• Income for the year up at Rs 273 crores, 69% up.

• Gross NPA at 0.80%

• The loan book stands at Rs 2,453 crores as of 31^st March 2023

Mumbai, 22^nd May 2023: Profectus Capital Private Limited (PCPL), an NBFC backed by Actis, a global private equity firm, announced impressive figures in the financial results for the Quarter and Financial Year ended 31st March 2023. PCPL’s AUM stands at Rs 2,453 crores as of March 2023, up 62% from March 2022. The company is dedicated to funding micro, small and medium enterprises (MSMEs) across eleven product clusters in India that have inadequate access to formal channels of financing. Recently, it also received a Certificate of Registration under the Factoring Regulation Act, 2011 from the Reserve Bank of India.

Financial performance highlights: Total Income from Operations for the year stood at Rs 273 crores compared to Rs 162 crores for the previous fiscal year, and Net Profit Before Tax is up to Rs 40 crores compared to Rs 11 crores in the previous year. The loan book grew to Rs. 2,453 crores as of 31st March 2023, reflecting 62% growth over the last year.

Commenting on the results, Mr K V Srinivasan, Executive Director and CEO, Profectus Capital Private Limited, said, ” Over the last five years, we have established ourselves as the specialist in MSME lending, with a perfect mix of customer orientation, risk management and technology backbone. The FY23 performance reflects the maturity of the organisation’s business model. Not only have we grown at a quick pace, but we have also maintained excellent book quality. Profitability and return on assets also reflect a strong trajectory; we are confident of further improvement in those metrics.  MSMEs will power the country’s ambition to become the third-largest economy in the next few years, and this augurs well for our business. Our focus is on the fastest-growing sectors, and our cluster-specific credit policies help us to spot business opportunities and risks better.”

About Profectus Capital : Profectus Capital Pvt Ltd (Profectus Capital) is a non-banking financial company (NBFC) that focuses on providing bespoke financial solutions to MSMEs in select manufacturing and services sectors. The company commenced operations in November 2017 and has financed entities in various sectors such as education, pharmaceuticals, healthcare, food processing, engineering and machine tools, printing and packaging, textiles, chemicals, and plastics. Most of the customers with a turnover of Rs 30-300 million. Profectus Capital has 26 branches in 26 cities across 13 states/union territories. Actis, a global private equity (PE) firm, holds a 100% stake in the Company.

Profectus Capital has built sectoral expertise and offers Cluster Specific Term Loans, Equipment Purchase Loans, Supply Chain Finance and Funding to smaller NBFCs. The company leverages cutting-edge technology for quicker and more robust loan processing, more accessible documentation, and consistent decision-making.