KLM Axiva Finvest Announced its FY24 results
04 October 2024
The company's financial performance in FY24 exhibited significant growth and positive trends across various key indicators. Firstly, the revenue from operations increased to ₹304 Cr from ₹275 Cr in the previous year, and the total income rose to ₹316 Cr, reflecting robust business expansion. The net profit for FY24 also showed a substantial increase to ₹23 Cr from ₹18 Cr in the previous year, indicating improved profitability. Furthermore, the company's gold loan segment played a crucial role in its financial performance, contributing 69.81% of the total income and comprising 62.03% of the total loan book as of March 31, 2024. Lastly, the company declared interim dividends totaling ₹10.83 crores during the fiscal year, underscoring its commitment to delivering value to shareholders. Overall, the financial performance highlights the company's strong revenue growth, improved profitability, and the significant contribution of its gold loan business to its overall income.
In terms of operational developments, KLM Axiva has made significant progress in various areas. The company has focused on regional expansion, particularly in Andhra Pradesh, Telangana, and Maharashtra, while also maintaining a strong presence in Kerala, Tamil Nadu, and Karnataka. Additionally, KLM Axiva has diversified its portfolio by introducing new products. The completion and inauguration of the new corporate office at Edappally, Kerala on May 5, 2024, mark a significant milestone for the company. In the area of capital adequacy and funding, KLM Axiva has maintained a Capital to Risk Assets Ratio (CRAR) of 23.62% as of March 31, 2024, which exceeds the regulatory minimum of 15%. Furthermore, the company has successfully raised funds through public issues of secured non-convertible debentures (NCDs) and private placements. Despite some non-compliances highlighted during an onsite inspection by the Reserve Bank of India (RBI), KLM Axiva has taken corrective measures and is actively working to fully comply with RBI directives.
