Niyogin Fintech Ltd

- Recent capital raise was done through warrants, with an initial Rs. 20 crore expected soon and the balance over an 18-month period. - The company has started taking leverage, with a credit line of Rs. 15 crore from one bank already in place. - Discussions with multiple lenders are ongoing to increase leverage for loan book growth. - Current loan book leverage is negligible but is expected to grow to about Rs. 60-70 crore of leverage on a Rs. 180 crore equity base. - Board has approved a leverage of up to 1x on net worth for the current year, with plans to revisit for higher leverage to reach Rs. 500 crore loan book next year. - The company aims to grow the loan book while being calibrated to maintain commercial sense and risk management. - No explicit mention of upcoming equity fundraising beyond warrant conversions and capital already raised.

- The company has taken a credit line of Rs. 15 crores as leverage to grow its lending book, indicating capital deployment towards lending growth. - Rs. 20 crores from recent capital raise (warrants) will be deployed to shore up the balance sheet and support lending business expansion. - Tech expenses saw an increase (~Rs. 2 crores) mainly to get ready with enough server space and infrastructure for new product launches like prepaid cards, reflecting strategic tech investment. - No significant increase in tech expenses expected in the next couple of quarters as current build compensates for scalability. - Future leverage expected to grow for loan book expansion: aiming for Rs. 250 crore book by FY24 and Rs. 500 crore by next year, with incremental capital needs to be approved by the Board. - Focus on technology infrastructure investment to enable differentiated, fully digital lending and product capabilities in partnership networks.

- The company targets a loan book growth to Rs. 250 crore by FY24 and aims for Rs. 500 crore by the next year, which implies substantial credit growth. - The Board has approved a leverage of 1x on net worth for the current year, with expectations to increase leverage to 2-2.2x to support growth. - Gross Transaction Value (GTV) demonstrated strong growth of 70% quarter-on-quarter, reaching approx. Rs. 9,900 crore in Q1 FY24, with July 2023 alone at Rs. 3,600 crore, projecting an annualized run rate of about Rs. 12,000 crore. - The company expects to leverage operating efficiencies with limited increase in expenses, indicating improved profitability as volumes scale. - New products like neo banking and prepaid cards with better margins are expected to contribute to future revenue expansion. - Expansion of Banking as a Service (BaaS) partners to 796 (+20% YoY) supports increasing footprint and transaction volumes.

- Q1 FY24 showed strong operational growth with 70% Q-on-Q growth in GTV; optimism continues for H1 FY24 and beyond. - Operating leverage is visible, with revenues growing faster than costs; potential breakeven expected in 1-2 quarters if current trends sustain. - FY25 targets include Rs. 500 crore loan book and Rs. 50-60 crore EBITDA, reflecting profitability focus. - Net take rate expected to stabilize around 9-10 basis points with new higher-margin products like neo banking and prepaid cards contributing. - Loan book growth target of Rs. 250 crore in FY24 with gradual increase in leverage (up to 1x approved, possibly 2-2.2x in FY25). - Expect slight profit in FY24 driven by operating leverage and growth in both lending and transaction businesses. - Provisioning impacts are one-off and not expected to recur, supporting improved margins going forward.

- The company targets building a lending book of about Rs. 250 crore by the end of FY24. - Currently, they have a lending book of around Rs. 160 crore equity deployed, expected to increase to Rs. 180 crore after a Rs. 20 crore capital infusion. - Leverage on this book is currently negligible (~Rs. 13 crore) but expected to increase to Rs. 60-70 crore to support growth. - The board has approved a leverage of 1x on net worth for this year and plans to scale to Rs. 500 crore loan book next year, with 2x-2.2x leverage. - The focus remains on calibrated and thoughtful growth to ensure creditworthiness and sustainability. - Multiple fintech partnerships (e.g., Khatabook, Capital Trust, Bizongo) support robust underwriting and book growth. - Aim to achieve Rs. 500 crore book with Rs. 50-60 crore EBITDA by FY25.