Fusion Micro Finance Ltd
NSE:FUSION
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Fusion Micro Finance Ltd
Fusion Microfinance Ltd. operates as a non-banking financial company-microfinance institution, which provides financial services to women entrepreneurs belonging to the economically and socially deprived section of the society. The company is headquartered in Gurgaon, Haryana. The company went IPO on 2022-11-15. The firm provides financial services to underserved women across India in order to facilitate their access to greater economic opportunities. Its range of financial products is designed according to various life cycle needs of its customers. Its microfinance products include income generation loans, top up loans, emergency loans, and cross sell loans. Its income-generating loans fund businesses operating in the sectors, including agriculture-allied and agriculture, manufacturing and production, trade and retail, services, and others. The company offers MSME loans to eligible enterprises. To be eligible for MSME loans, an enterprise must be a manufacturer, trader or service provider, and have an investment limit of less than 1,500,000 rupees. Its MSME products include unsecured business loans, secured business loans, and machinery loans. The company has a network of about 966 branches spread across 377 districts in 19 states.
Fusion Microfinance Ltd. operates as a non-banking financial company-microfinance institution, which provides financial services to women entrepreneurs belonging to the economically and socially deprived section of the society. The company is headquartered in Gurgaon, Haryana. The company went IPO on 2022-11-15. The firm provides financial services to underserved women across India in order to facilitate their access to greater economic opportunities. Its range of financial products is designed according to various life cycle needs of its customers. Its microfinance products include income generation loans, top up loans, emergency loans, and cross sell loans. Its income-generating loans fund businesses operating in the sectors, including agriculture-allied and agriculture, manufacturing and production, trade and retail, services, and others. The company offers MSME loans to eligible enterprises. To be eligible for MSME loans, an enterprise must be a manufacturer, trader or service provider, and have an investment limit of less than 1,500,000 rupees. Its MSME products include unsecured business loans, secured business loans, and machinery loans. The company has a network of about 966 branches spread across 377 districts in 19 states.
Disbursements Growth: Disbursements reached INR 1,298 crores in Q2, up 37% sequentially, with momentum expected to continue into Q3 and Q4.
Asset Quality Improvement: Gross NPA declined to 4.6% from 5.5% last quarter, and net NPA remained low at 0.38%; collection efficiency rose to 98.5%.
Profitability Progress: Loss reduced further to INR 22 crores; credit cost down for the fourth consecutive quarter to INR 111 crores.
Capital Strength: Capital adequacy remained strong at 31.31%; INR 400 crores second tranche of rights issue approved to fund future growth.
Operational Efficiency: Headcount reduced by 2,000, driving productivity gains and stable OpEx despite growth in disbursements.
Guidance: Management expects disbursements to overtake repayments by December–January, turning the book back to growth by Q4; credit costs guided to settle at around 3–3.5% going forward.
MSME Segment Expansion: MSME portfolio grew to INR 708 crores, with high approval rates and over 90% of the book secured.
Market Environment: Management noted industry-wide pressure on funding costs and ongoing evaluation of lending rate hikes, with Fusion yet to raise rates.
