* ROE = Annualized net profit / Average equity during the period

Bengaluru, August 9, 2024 – Moneyboxx Finance Limited (Moneyboxx), an impact lender providing small business loans to micro entrepreneurs, achieved strong profitability in Q1 FY25, reporting net profit of INR 4.30 crore, compared to INR 1.64 crore in Q1 FY24.

Moneyboxx witnessed a remarkable 93% growth in AUM over the prior year, reaching INR 746 crore as of June 30, 2024, driven by branch expansion and higher productivity with vintage and scale. The Company announced an equity raise of INR 271 crore in July’24, which will boost its capital position and support growth plans. The Company is supported by 33 lenders, including prominent banks such as State Bank of India, HDFC Bank, Kotak Mahindra Bank, RBL and IDFC First Bank.

Highlights of Q1 FY25 Financial Results

• Robust franchise well positioned for growth with increasing branch vintage and expansion: Company expanded operations to 104 branches across 8 states as of Jun’24 compared to 68 branches in 6 states in Jun’23. Geographic and product diversification improved with entry into the states of Gujarat and Bihar in FY24. Additionally, the share of secured lending increased from 8% of AUM in Q1 FY24 to 27% in Q1 FY25.
• AUM grew by 93% to INR 746 crores in Q1 FY25 compared to Q1 FY24, led by branch expansion and higher productivity with vintage and growing scale of operations. Reported Disbursements of INR 106 crore during Q1 FY25, growing by 17% over Q1 FY24.

• Growing profitability: Total Income grew strongly by 94% to about INR 45.69 crore in Q1 FY25 compared to INR 23.52 crore in Q1 FY24, in line with strong growth in AUM. The Company posted profit after taxes of INR 4.30 crore in Q1 FY25 compared to INR 4.12 crore in Q4 FY24 and INR 1.64 crore in Q1 FY24. PAT remained stable in Q1 FY25 compared to Q4 FY24 despite higher credit cost. Operating efficiency continues to improve with Opex declining to 12.0% of avg AUM in Q1 FY25 compared to 13.3% in Q1 FY24 despite significant growth in operations.

• Achieved ROE of 10.0% in Q1 FY25 against 8.5% in Q1 FY24. Profitability is further expected to improve driven by continuous decline in marginal cost of borrowing, improving branch productivity with vintage, and the benefit of operating leverage with growing AUM.

• Equity funding of INR 271 crore to boost capital position and support growth plans: Moneyboxx announced equity fund raise of INR 271 crore in its board meeting held on July 17, 2024. The capital raise includes INR 158 crore through preferential equity issue (of which INR 94 crore is from new investors) and INR 113 crore through issue of equity warrants to promoters and existing non-promoter investors. The equity funding will significantly strengthen the Company’s capital position and support its growth plans. Out of the total equity capital raise, INR 186 crore is to be infused by August 2024, which will more than double the Company’s existing capital base to INR 350 crore.

• Declining cost of borrowings: With the addition of leading banks and NBFCs, and issue of debt via securitization and NCD issuance, the Company has diversified its funding sources and reduced its cost of borrowings (cost of incremental borrowing stood at 12.05% during Q1 FY25 compared to 13.73% in Q1 FY24). The Company is supported by 33 lenders as of date, including 11 leading banks.
• Stable asset quality: While asset quality moderated during the quarter due to sluggishness in the rural economy, Moneyboxx maintained stable asset quality with one of the lowest NPAs in the segment owing to its focus on essential sectors and robust underwriting practices. Gross NPA increased to 1.65% of AUM in Q1 FY25 compared to 1.54% in Q4 FY24 and 0.74% in Q1 FY24. Net NPA increased to 1.11% for the given quarter compared to 1.04% sequentially and 0.35% yearly. The Company expects near-term credit pressure to subside as the festive demand picks up and expected recovery in rural economy. Increasing focus on secured lending should support asset quality.

Commenting on the results, Deepak Aggarwal (Co-CEO & CFO) said, “In these challenging times, the relatively minor increase in NPAs underscores the strength of our underwriting capabilities. Additionally, the fact that over 65 % of the upcoming equity raise comes from existing investors, including promoters, demonstrates their strong confidence in our business model”

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Major Highlights:

• Gross Revenue ₹ 35,266 crore in Q1
• Net profit ₹ 8,938 crore in Q1
• 5 Discoveries in FY’ 25 so far

Details are as under:

1. Financial Performance (Standalone)

2. Financial Performance (Consolidated)

3. Production Performance

4. Exploratory Success:
5. a) ONGC has declared total 5 Discoveries in FY’ 25 so far. Since last press release on 20^th May 2024, ONGC has declared 3 more discoveries (01 in onland and 02 in offshore) in its operated acreages. Out of these, 02 are prospect (1 in onland, 1 in offshore) and 1 is new pool (onland) discovery.

 The details of the latest discoveries notified since last press release in this regard on 20^th May 2024 are as under.

1. PURN-1: The exploratory well PURN-1 (CB-ONO-PU-A) was drilled in OALP block CB-ONHP-2019/1 to explore HC potential of Olpad & Kadi. During testing, well flowed viscous oil after heat treatment thru hot water. The success in the well PURN-1 in Olpad Formation has established hydrocarbon presence in the prospect and opened up new area for exploration in and around OALP block CB-ONHP-2019/
2. West Matar-2: The exploratory well West Matar-2 (MRAX) was drilled in Matar Addl. (7 year PML) area to explore HC potential of Middle Eocene Play (Hazad Member). Two objects were tested in Sand-6 and sand-8 of Gandhar. While Gandhar Sand 6 flowed oil @83m3/day and gas @ 10500m3/day, Gandhar-8 gave Oil @87.89 m3/day and gas @ 10,644m3/d. This success has established commercial oil & gas for the first time in GS-6 and GS-8 sands in West Matar field and declared as new pool discovery. This discovery has opened up areas for further exploration.

III. Chandramani (B-56-B): The well B-56-2 (B-56-B) was drilled in C-Series PML in Tapti-Daman area of Mumbai Offshore with the objective to explore hydrocarbon potential of Panna and Bassein Formation. One object, tested in Diu Formation flowed Gas @ 2,09,746 m3/day. The encouraging testing results has established presence of commercial hydrocarbons in the Diu Formation for the first time in Mumbai Offshore. This Hydrocarbon success has opened up a new play for further exploration.

1. b) For the first time, a Field Development Programme has been submitted to DGH for monetization of Hatta Discovery Vindhyan Basin, Madhya Pradesh.
2. Awards/Recognitions/Other highlights:

1. ONGC inks MOU with Ever Enviro Resource Management Private Ltd for Compressed Biogas Plants: The proposed joint venture shall have 50 % equity shareholding each by ONGC’s newly formed subsidiary ONGC Green Ltd. (OGL) and Ever Enviro.
2. ONGC and IOC ink MoU to establish a small-scale Liquefied Natural Gas (LNG) plant by IOCL near Hatta Gas Field of Vindhyan Basin: This collaboration aims at harnessing the power of LNG to drive sustainable growth and energy security.

• Jorhat Asset achieves 700 TPD oil production: All-time high oil production of 700 TPD was achieved at Jorhat Asset.

Awards

2024. ONGC has been honored with the Best PSU Award 2023 in the Maharatna of the Year – Non-Manufacturing category by Dalal Street Investment Journal (DSIJ) on 5th June, 2024.
2025. ONGC Videsh conferred with the award for Master of Risk- Risk Technology, Large Cap Categoryin the 10th edition of the India Risk Management Awards constituted by ICICI Lombard & CNBC-TV18 on 27 June, 2024.
2026. ONGC’s Corporate HSE was conferred with Golden Peacock Environment Management Award 2024  on 27 June, 2024.
2027. ONGC was recognized as an Institutional Sustainability Champion in the Editor’s Choice category at the Outlook Planet Sustainability Summit & Awards 2024 on 27 May, 2024.

ONGC’s Institute of Drilling Technology (IDT) was bestowed with the Golden Peacock ECO Innovation Award 2024 on 27 June, 2024 by the Institute of Directors (IOD) for developing an innovative lightweight, thermally resilient, and flexible cement slurry design for CSS (Cyclic Steam Stimulation) wells

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