Poonawalla Fincorp stock gains as company grants 3,00,000 stock options to employees at ₹382.63 apiece

Poonawalla Fincorp Limited announced on September 11 the grant of 3,00,000 stock options under its Employee Stock Option Plan 2024 - Scheme-II (ESOP-2024 - Scheme-II). The Nomination and Remuneration Committee of the Board approved the grant on September 10, 2024, with an exercise price set at ₹382.63 per option, as per an exchange filing. 

The options are part of Tranche 13 and will vest according to the schedule outlined in the ESOP-2024 - Scheme-II, the filing added.

On September 11, at 2:04 pm, Poonawalla Fincorp share price was trading in the green, up 0.87 percent, at ₹395.60 on NSE. The company enjoys a market capitalisation of ₹30,747.81 crore. Poonawalla Fincorp stock price last hit its 52-week high of ₹519.70 on January 19, 2024.

The company notified both the National Stock Exchange of India Limited and BSE Limited about the grant.

Poonawalla Fincorp's buzz

This move follows a September 3 announcement, where Poonawalla Fincorp revealed the grant of 5,00,000 stock options under its ESOP 2024, approved by the Nomination and Remuneration Committee on September 2. These options were issued at ₹390.60 per share, per another filing earlier this month.

Poonawalla Fincorp recently reported strong performance for the first quarter of FY25, with Assets Under Management (AUM) reaching ₹26,972 crore. 

This marks a 52 percent year-over-year (YoY) increase and an 8 percent rise quarter-over-quarter (QoQ). The company’s AUM is well-diversified, with allocations of 35 percent in MSME finance, 28 percent in personal and consumer finance, 17 percent in loans against property, and 14 percent in pre-owned car finance.

The company has also demonstrated consistent improvement in asset quality, with its gross Non-Performing Assets (NPA) ratio dropping to 0.67%, a reduction of 75 basis points YoY and 49 basis points QoQ. Similarly, the net NPA ratio declined to 0.32%, down by 44 basis points YoY and 27 basis points QoQ. Poonawalla Fincorp’s Provision Coverage Ratio stood at 52.53%.

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