Any current/future capex/capital investment/strategic investment?

The company has significantly expanded its branch network, opening 28 branches in September and 37 in the last quarter, marking a 36% increase in just one quarter, indicating ongoing capital investment in branch expansion. New branches have been opened in Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana, strengthening geographic diversification and pan-India presence. This branch expansion has led to a short-term rise in operating expenses but positions the company for future AUM growth. The company plans to continue equity raises for growth; recently, INR176 crores were raised, supporting

Future growth expectations in sales/revenue/volumes?

AUM growth target: Company aims for approximately 70% growth in Assets Under Management (AUM), with a goal to reach around INR1,300 crores in the current financial year. Branch expansion: Rapid branch network growth (36% increase last quarter) to support AUM growth and revenue increase. Disbursement growth: Month-on-month disbursements have shown 100% growth from August to October, indicating expanding sales volume. Secured loans focus: Incremental disbursements towards secured loans have increased to 47%, expected to continue rising, enhancing portfolio stability. Revenue growth: Total income

Future growth expectations in earnings/operating earnings/profits/EPS?

**AUM Growth:** Projected to at least maintain industry guidance with potential delays of a quarter; aim for INR1,250-1,300 crores AUM by FY26 due to branch expansion and improving market conditions. **Net Worth:** Expecting a minimum doubling of net worth over an 18-month period from the last equity raise, supporting continued growth. **Profitability:** Aim to maintain or improve upon past year's PAT; expect absolute profit increase with ~70% growth in AUM and net worth. **Return on Equity (ROE):** Targeting 12% ROE for the current year is uncertain but maintaining last year’s levels is expec

Any current/future new fundraising through debt or equity?

The company has recently raised equity of INR 176 crores. They plan a minimum doubling of net worth and tripling of AUM over an 18-month period from the last equity raise. Additional equity fundraising is anticipated in the coming quarters to support business growth. They have been raising equity every year and expect to continue doing so. On the debt side, borrowing costs have declined, with recent loans raised at around 11-12%, including one from HDFC at 11%. The company aims to further reduce borrowing costs over time. Overall, they are committed to meeting their AUM and net worth targets,

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Moneyboxx Finance LtdQ3 FY24Finance

Moneyboxx Finance Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹68Market Cap: ₹522 CrSector: Finance

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→AUM growth target: Company aims for approximately 70% growth in Assets Under Management (AUM), with a goal to reach around INR1,300 crores in the current financial year.
→Branch expansion: Rapid branch network growth (36% increase last quarter) to support AUM growth and revenue increase.
→Disbursement growth: Month-on-month disbursements have shown 100% growth from August to October, indicating expanding sales volume.
→Secured loans focus: Incremental disbursements towards secured loans have increased to 47%, expected to continue rising, enhancing portfolio stability.
→Revenue growth: Total income rose 74% year-over-year to INR49.56 crores, reflecting both business and AUM growth.
→Operational efficiency: Operating expenses decreased as a percentage of AUM (13% in Q2 vs 24.5% in FY21), improving profitability.
→Outlook: Management expects to meet FY26 targets with steady growth and improving market conditions, though timing may shift slightly.

Margin guidance

Category 3

→**AUM Growth:** Projected to at least maintain industry guidance with potential delays of a quarter; aim for INR1,250-1,300 crores AUM by FY26 due to branch expansion and improving market conditions.
→**Net Worth:** Expecting a minimum doubling of net worth over an 18-month period from the last equity raise, supporting continued growth.
→**Profitability:** Aim to maintain or improve upon past year's PAT; expect absolute profit increase with ~70% growth in AUM and net worth.
→**Return on Equity (ROE):** Targeting 12% ROE for the current year is uncertain but maintaining last year’s levels is expected; longer-term goal to achieve 15% ROE.
→**Operating Efficiency:** Operating expenses as a percentage of AUM have decreased significantly (from 24.5% in FY21 to 13%), expected to improve further with scale.
→**Credit Cost:** Recent elevated credit cost is seen as temporary; improvements in collections and credit quality are expected to lower costs.
→**Overall Outlook:** Despite short-term challenges, the business model remains robust with stable margins (NIM ~16.5%, spread ~15.5%) and expectations of strong ROE and profit growth as markets stabilize.

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Fundraise plans

Yes

→The company has recently raised equity of INR 176 crores.
→They plan a minimum doubling of net worth and tripling of AUM over an 18-month period from the last equity raise.
→Additional equity fundraising is anticipated in the coming quarters to support business growth.
→They have been raising equity every year and expect to continue doing so.
→On the debt side, borrowing costs have declined, with recent loans raised at around 11-12%, including one from HDFC at 11%.
→The company aims to further reduce borrowing costs over time.
→Overall, they are committed to meeting their AUM and net worth targets, implying ongoing fundraising activities both in equity and debt.

Order book

Yes

The transcript provided for Moneyboxx Finance Limited's Q2 and H1 FY25 earnings call does not mention any details related to current or expected order book or pending orders. The discussion mainly focuses on financial performance, loan book growth, collection efficiency, credit quality, market environment, and operational updates such as branch expansion and secured vs unsecured loan portfolio. There is no information provided on order book status or pending orders in the provided transcript.

Capex plans

Yes

→The company has significantly expanded its branch network, opening 28 branches in September and 37 in the last quarter, marking a 36% increase in just one quarter, indicating ongoing capital investment in branch expansion.
→New branches have been opened in Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana, strengthening geographic diversification and pan-India presence.
→This branch expansion has led to a short-term rise in operating expenses but positions the company for future AUM growth.
→The company plans to continue equity raises for growth; recently, INR176 crores were raised, supporting a doubling of net worth over an 18-month period.
→Incremental branches are focusing on secured business, with secured disbursement now at 47% and expected to increase.
→The emphasis is on scaling operations sustainably with technology enhancements and collection team strengthening rather than one-time capital expenditures mentioned.

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