Any current/future new fundraising through debt or equity?

The company plans to raise INR150 crores equity in H1 FY25 to fund the FY25 expansion plan. The process for this is already initiated. (Page 4, 15, 19) This equity raise aims to support anticipated AUM growth from INR730 crores, enabling new debt borrowing of about INR600 crores, maintaining an appropriate debt-to-equity ratio. (Page 15) Post the recent successful equity raise of around INR15 crores (including INR10 crores from promoters), this upcoming fundraise is the largest planned since inception. (Page 4) On the debt side, the company has access to 32 institutional lenders, including

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

The company plans to raise INR 150 crores of equity capital in the coming financial year to support AUM expansion. This equity raise will enable borrowing of about INR 600 crores to achieve a target AUM of around INR 1,400 crores. Capital investments mainly target branch expansion to new states, including entering three new southern states: Karnataka, Tamil Nadu, Telangana, and possibly Andhra Pradesh. Expansion will be gradual, starting with 5-6 branches per new state, then scale based on performance over 6 months. The focus is on increasing the secured loan portfolio with longer-tenor loans,

Future growth expectations in sales/revenue/volumes?

Targeting to double AUM in the current financial year from INR730 crores to approx INR1,400 crores. Aim to reach INR2,500 crores AUM by FY26 and INR4,000 crores in 3 years. Five-year target for AUM is INR7,500 crores. Plan to expand branch network aggressively: 60-75 new branches planned for FY25, with capability to ramp up to 200 branches per year. Geographic expansion ongoing, adding 3 new southern states (Karnataka, Tamil Nadu, Telangana) plus Andhra Pradesh. Shift towards secured loans expected to grow; secured loans currently 24% of AUM, up from 5% a year ago. Volume growth supported by d

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

Moneyboxx Finance aims to double its AUM from INR730 crores in FY24 to approximately INR1400 crores in the near term, supporting growth. The company targets an AUM of around INR4000 crores in 3 years and about INR7500 crores in 5 years. Operating expenses (opex) have declined significantly from 24% to 12.7% of AUM and are expected to reduce further to single digits due to scale and product mix shift towards secured loans, improving operating leverage. Profitability improved, with FY24 reporting INR9.1 crores profit after tax, compared to a net loss in FY23, and ROE is expected to reach 15% by

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Moneyboxx Finance LtdQ1 FY24Finance

Moneyboxx Finance Ltd Q1 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 1

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

→Targeting to double AUM in the current financial year from INR730 crores to approx INR1,400 crores.
→Aim to reach INR2,500 crores AUM by FY26 and INR4,000 crores in 3 years.
→Five-year target for AUM is INR7,500 crores.
→Plan to expand branch network aggressively: 60-75 new branches planned for FY25, with capability to ramp up to 200 branches per year.
→Geographic expansion ongoing, adding 3 new southern states (Karnataka, Tamil Nadu, Telangana) plus Andhra Pradesh.
→Shift towards secured loans expected to grow; secured loans currently 24% of AUM, up from 5% a year ago.
→Volume growth supported by diversified presence across 11+ states to mitigate geographic risks.
→Equity raise of INR150 crores planned to support expansion and capital adequacy for debt growth.

Margin guidance

Category 3

→Moneyboxx Finance aims to double its AUM from INR730 crores in FY24 to approximately INR1400 crores in the near term, supporting growth.
→The company targets an AUM of around INR4000 crores in 3 years and about INR7500 crores in 5 years.
→Operating expenses (opex) have declined significantly from 24% to 12.7% of AUM and are expected to reduce further to single digits due to scale and product mix shift towards secured loans, improving operating leverage.
→Profitability improved, with FY24 reporting INR9.1 crores profit after tax, compared to a net loss in FY23, and ROE is expected to reach 15% by FY26.
→Branch-level unit economics show break-even in approximately 6 months with profitability thereafter, supporting sustained earnings growth.
→Declining borrowing costs and a shift towards secured loans (higher tenure, lower credit cost) will further enhance margins and profitability.
→Equity raising (INR150 crores planned) will support AUM expansion and profit growth.

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Fundraise plans

Yes

→The company plans to raise INR150 crores equity in H1 FY25 to fund the FY25 expansion plan. The process for this is already initiated. (Page 4, 15, 19)
→This equity raise aims to support anticipated AUM growth from INR730 crores, enabling new debt borrowing of about INR600 crores, maintaining an appropriate debt-to-equity ratio. (Page 15)
→Post the recent successful equity raise of around INR15 crores (including INR10 crores from promoters), this upcoming fundraise is the largest planned since inception. (Page 4)
→On the debt side, the company has access to 32 institutional lenders, including multiple banks and co-lending partners, with ongoing monthly co-lending and business correspondence lines totaling around INR35 crores, providing ample liquidity. (Page 4, 14)
→Borrowing costs have improved with incremental borrowing rates declining to around 13%, with expectations of a 100 bps further reduction in the current year. (Page 5)

Order book

Yes

The transcript does not specifically mention current or expected orderbook or pending orders for Moneyboxx Finance Limited. However, relevant information related to growth and expansion includes: - AUM (Assets Under Management) increased 112% YoY to INR 730 crores in FY24. - The company aims to double AUM in the current financial year. - Expansion plans to 11 states in FY25 by adding three new states in South India. - Plan to add 60 to 75 new branches in existing and new states this year. - Cumulative disbursements crossed INR 1,200 crores as of March 31, 2024. - Strong growth and geographic diversification ongoing with secured loans increasing from 5% to 24% as a share of AUM. - Equity raise of approximately INR 150 crores planned to support AUM expansion to approx INR 1,400 crores. No direct mention of formal orderbook or pending orders was made.

Capex plans

Yes

→The company plans to raise INR 150 crores of equity capital in the coming financial year to support AUM expansion.
→This equity raise will enable borrowing of about INR 600 crores to achieve a target AUM of around INR 1,400 crores.
→Capital investments mainly target branch expansion to new states, including entering three new southern states: Karnataka, Tamil Nadu, Telangana, and possibly Andhra Pradesh.
→Expansion will be gradual, starting with 5-6 branches per new state, then scale based on performance over 6 months.
→The focus is on increasing the secured loan portfolio with longer-tenor loans, which reduce operating expenses and credit cost.
→Investments will also support technology, compliance, and operational bases that have fixed costs to enable scale economies.
→The company aims for a 5-year target AUM of about INR 7,500 crores, indicating continued capital investment and branch network growth.

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