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CreditAccess Grameen – Will its better collection efficiency work for investors?

While collections of CreditAccess Grameen improved in July, a sustained uptrend will be key from the asset quality perspective

August 30, 2021 / 02:27 PM IST
CreditAccess Grameen – Will its better collection efficiency work for investors?

Representative image (Source: ShutterStock)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The ebbing of the second Covid wave and the resumption of economic activity have brought some relief to CreditAccess Grameen (CAGL), the largest non-bank microfinance institution (NBFC-MFI) in terms of loan-book size as of June. According to the management, disbursements have picked up and collection efficiency has improved in July compared to May and June. Does this make the MFI a worthy investment bet, given that it reported a weak set of numbers in the June quarter? Before analysing that, let’s...

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