KOCHI: The Dhanalakshmi Hire Purchase and Leasing Ltd (DHPL), with its registered office in Thrissur, has doubled its net profit to Rs35 lakh for the financial year 2023-24 (FY24) from Rs18 lakh the company reported for the previous year.
During the financial year 2023-2024 (FY24), DHPL opened 15 new branches, taking the total number of branches to 50 as on March 31, 2024. Incorporated on September 12, 1991, DHPL is a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI).
AUM at Rs88cr
The assets under management (AUM) as on March 30, 2024, stood at Rs88 crore after recording a year on year (YoY) growth of 62 per cent during the said year. Out of DHPL’s overall portfolio, 50 per cent has been towards secured loan (gold loans and loan against property (LAP), and the remaining has been vehicle finance.
The company wants to focus on increasing the proportion of gold loans and therefore, it has started diversifying its branch network out of Kerala.
According to a reliable document available with businessnbenchmark.news, the management has plans to open new branches in Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra.
Asset quality
In terms of asset quality, gross non-performing assets (GNPA) stood at 0.9 per cent as on March 31, 2024. As on March 31, 2024, the company reported net worth of Rs13 crore and gearing of 6.6 times; against Rs9 crore and 6.2 times, as on March 31, 2023.
The promoters have infused equity capital of Rs11 crore during the past three fiscals and have the ability to infuse more if required.
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