Hero Fincorp Unlisted Shares
Ahead of IPO, Hero FinCorp writes off bad loans worth around Rs 1,200 crore
money control
2 min read
Hero FinCorp Implements Pre-IPO Strategy to Enhance Transparency and Propel Growth
Expert Analysis:
Strategic Loan Write-Off Pre-IPO: Strategic write-off of bad loans worth Rs 1,200 crore pre-IPO for enhanced financial transparency.
Robust Growth Metrics: Hero FinCorp's assets under management surged by 25% to Rs 49,127 crore in the first nine months of FY24.
Operational Resilience and Profit Surge: Profits soar by 168%, showcasing operational resilience amidst challenges. Disbursals increased by 26% to Rs 24,979 crore over the same period.
Profit After Tax: Despite significant write-offs, the company's profit after tax increased by 168% to Rs 736 crore.
ICRA:
ICRA highlights Hero FinCorp's improved asset quality profile, citing a reduction in gross and net stage 3 ratios to 4.7% and 2.3%, respectively, by December 31, 2023.
ICRA attributes the asset quality improvement to increased collection efficiency and significant write-offs, totaling Rs 1,176 crore in 9M FY2024.
Commitment to Transparency:
Pre-IPO financial cleanup signals commitment to transparency and accountability.
Positioning as Key Financial Player:
Strong asset quality and growth metrics position Hero FinCorp as a key player in financial services.
Investor Confidence and Future Prospects:
Demonstrated resilience and profitability instill investor confidence in future prospects.
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