1、DECEMBER 2024India NBFC Sector Roundup H1FY251Copyright 2023 by Boston Consulting Group.All rights reserved.HFCs(9 NBFCs)Diversified(16 NBFCs)Glossary:Classification of 31 NBFCs used in this documentGold(2 NBFCs)Microfinance(3 NBFCs)Note:Tata Capital Fin Services and SMFG India Credit Company Ltd ex

2、cluded from the analysis;Samman Capital was formerly known as Indiabulls Housing Finance Limited Tata Capital Fin Services excluded due to its merger with Tata Capital Ltd.And SMFG India Credit Company Ltd excluded due to delayed Q2 FY25 results Cards(1 NBFC)2Copyright 2023 by Boston Consulting Grou

3、p.All rights reserved.H1FY25 Results:NBFC Industry SnapshotBalance Sheet25.5L Crore19%YoYBalance Sheet Size5.5L Crore33%YoYShareholders Fund17.8L Crore19%YoYTotal Borrowings122.3L Crore20%YoYTotal Net Advances6.9%Decreased by 23 bps YoYNIM35.9%Decreased by 121 bps YoYCost-IncomeKey Ratios1.8L Crores

4、17%YoYTotal Income0.8L Crore16%YoYNet Interest Income0.2L Crore9%YoYNon-Interest Income0.3L Crore9%YoYPATProfitability2.7%Reduced By 30 bps YoYGNPA(%)1.Total Borrowings include Debt SecuritiesNote:Growth is calculated for H1FY25 over H1FY24.Analysis has been made based on 31 NBFCs(9 HFCs,2 Gold,3 MF

5、I,1 Cards and 16 Diversified NBFCs)2.9%Decreased by 28 bps YoYROA3Copyright 2023 by Boston Consulting Group.All rights reserved.Macro TrendsSummary Snapshot(I/II)Banks vs NBFCsEconomic growth:GDP growth for Q2 FY25 at 5.4%.FY25 GDP forecasted to grow between 6.7-7.2%YoYoThe World Bank upgraded India

6、s growth forecast for FY25 from 6.6%to 7%,expecting the economy to remain strong in medium termEconomic landscape exhibits mixed trendsoThe auto sector registered growth across all segments,fueled by a surge in seasonal demandoForex reserves hit a record high in Sep24,boosted by a notable surge in f