Capri Global Solidified Business Operations: Disbursement to 94,000 Customers

On April 08, 2024, a leading non-banking financial company, Capri Global Capital Ltd, stated in an exchange filing that the company had achieved a remarkable 75% year-on-year (y-o-y) growth in new car loans in FY2024. In addition, the company recorded a disbursement of more than ₹10,000 crore to around 94,000 customers, reflecting ~2.5% of India’s total passenger vehicle market.

During the year, the company has been focused on expanding its footprint across the length of the country and has established a presence at 750 locations in 28 states, predominantly in Tier III cities and Tier IV towns. In addition to operations ramp-up, the lender also added numerous banking partners and distributors to support the increasing demand. This has allowed the business to gain market share from urban and semi-urban areas where demand for new cars was at a record new high in FY24.

“India’s new car market is experiencing an unprecedented boom, fuelled by surging demand. Notably, there’s a discernible preference for larger vehicles, such as SUVs and sports models, alongside a growing interest in inefficient electric variants, particularly in urban areas. The ownership of a car symbolises independence, status, and personal fulfilment,” said Mr Rajesh Sharma, Managing Director of Capri Global Capital Ltd.

He further added, “At Capri Loans, we’re dedicated to turning car buyers’ dreams into reality by providing accessible financing options. We’ve already disbursed over ₹10,000 crores for around 94,000 personal cars through our customer-centric approach, repayment plans tailored to individual financial circumstances, and ensuring convenience and ease throughout the process.

Looking Ahead

Looking forward, the company intends to continue growing the vehicle finance business by 25%. To achieve this, the NBFC is planning a multi-pronged strategy, including increasing its presence across southern states. The company also plans to leverage technology to automate a part of the acquisition process via the launch of an app in the first quarter of the current financial year 2025, which is already in the pilot phase. The company is also willing to explore inorganic ways to enter newer categories in vehicle financing.

About Capri Global Capital Ltd

Capri Global Capital (CGCL) is a diversified Non-Banking Financial Company (NBFC) that operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loans, and Construction Finance. On April 08, 2024, the shares of the company opened at ₹224.95 and touched the day high of ₹227.00 at 12:38 PM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.