Spandana Sphoorty Financial

Spandana Sphoorty Financial Ltd Company Detail

Spandana Sphoorty Financial Ltd Company Detail

Spandana was founded by Mrs. Padmaja Reddy in 1998, within five years by 2003, it grew to the largest Micro Finance Institution in India under Reserve Bank of India(RBI) and occupied 6th place in across the globe. The company had 1856 branches with a presence in 10 states and 13,500 employees. Spandan is a Sanskrit word and it means Response. As Spandana was born in response to a problem, the Organisation was named as Spandana. Moreover, this team used to work with an NGO in Andhra Pradesh. NGO is dedicated to helping poor people to build their houses, health education, provide safe drinking water, sanitation, etc. The NGO used to raise grants from different funding agencies and implement these activities.

The company has started working under the CDR mechanism (Corporate Debt Restructuring) of the RBI to revive the business and restructure the borrowings in 2010. And, exited successfully in March 2017 with the help of Kangchenjunga Ltd and Kedaara AIF-1.

Before the 2010 crisis, the company had Rs 4,500 crore loan portfolio. The company started recovering and made the first profit in the year 2013-14. As of September 2018, Spandana had a Rs 2,244 crore loan portfolio.

Business

They offer income generation loans under the joint liability group model, predominantly to women from low-income households in Rural Areas. As of March 31, 2018, they were the fourth largest NBFC-MFI and the sixth-largest amongst NBFC-MFIs and SFBs in India, in terms of AUM. The average ticket size of the loan is Rs. 26000 and most of these loans are income generating.

Company Products

1. Abhilasha (JLG Loans)
2. Shree Loans
3. Loans Against Property (LAP)
4. Gold Loans (Keertana)
5. Phoenix Loans
6. Interim Loans

Competitive Strengths

  1.  Seasoned business model
  2.  Large employee base for a high degree of client engagement
  3.  Focus on a highly under-served market
  4.  Geographically diversified business operations

Company Promoters:

Padmaja Gangireddy and Kangchenjunga Limited are the promoters of the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. 10 Lakhs)
31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15
Total Assets 48,980.37 37,642.47 19,286.22 20,998.95 23,524.69
Total Revenue 10,362.81 5,872.74 3,770.64 3,438.62 3,019.71
Profit After Tax 3,087.48 1,879.71 4,434.14 2,432.35 1,050.99

Objects of the Issue:

The Net Proceeds of the Fresh Issue are proposed to be utilized for:
1. Augmenting the capital base and
2. General corporate purposes

Company Contact Information

Spandana Sphoorty Financial Ltd
Plot No: 31 & 32,
Ramky Selenium Towers, Tower A, Ground Floor,
Financial District, Nanakramguda, Hyderabad 500 032

Phone: +91 40 4812 6666
Email: [email protected]
Website: http://www.spandanaindia.com/

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