Dear Shareholders,
ItiswithimmenseprideandgratitudethatIpresent to you the Annual Report
for FY24. This year marks a significant milestone in UGRO Capital?s journey, as your
Company has successfully entered the
Billion-Dollar AUM club.
Harnessing the power of data and technology in novel ways to redefine
financial services has led your Company to an evolved-state – a DataTech
NBFC. Its advanced analytics capabilities and proprietary algorithms
have transformed data into actionable insights, allowing it to make informed decisions and
drive business forward. Your Company?s cutting-edge technology platforms enable it to
assess risks, monitor portfolio performance, and identify growth prospects in real-time.
This empowers UGRO to customize financial solutions that cater to the unique needs of
MSMEs operating across diverse sectors. By focusing on populating network data, your
Company has been able to offer tailored financing solutions that address the specific
requirements of each business.
One of the core problems UGRO Capital is addressing is the vast MSME
credit gap and the sector?s lack of access to fast and easy credit. By leveraging an
extensive network and partnerships, your Company gathers crucial information about an
MSME?s supply chain, customer base, and industry affiliations. This comprehensive
understanding of a business? ecosystem allows it to provide personalized and
context-specific financing options, ensuring that the clients receive the support they
need to thrive.
To date, your Company has made significant strides in its mission. As
of March 2024, it closed the year with an impressive Assets Under
Management (AUM) of INR 9,047 Crores, marking a 49% year-on-year
increase. It has successfully provided data-driven bespoke finance solutions to over
80,000 MSMEs across India. UGRO?s innovative collaborative approach, with 13
co-lending partners, 55 lenders, 45+ fintechs, and
500+ GRO partners, has played a pivotal role in this growth trajectory.
Additionally, UGRO Capital is in the process of acquiring MyShubhLife (MSL). This
acquisition, along with its recent equity capital raise of
INR 1,265 Crores, will significantly strengthen its position and enable
your Company to continue delivering unparalleled financial solutions to
MSMEs across the country.
With a goal to soon achieve an AUM of INR 20,000 Crores, UGRO Capital
is set on bridging the credit gap and continue empowering MSMEs with the financial support
they need to succeed.
Your Company plans to take its current branch strength of 160+ branches
to a whopping 300 over the next year. By maintaining the focus on innovation and
leveraging advanced technology and with an ever-increasing UGRO team of over
1,650 employees, your Company is confident in its ability to shape the
future of financial services in
India.
As we celebrate yet another successful year, I would like to extend my
heartfelt gratitude to our shareholders, partners, and employees for their unwavering
support and dedication. Your company is fully aligned with the national goal of reducing
income inequalities and creating jobs for the less privileged as it continues to empower
the micro and small enterprises in widespread areas of the country. Together, we will
continue to empower MSMEs, drive innovation, and shape the future of financial services in
India.