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ICICI Securities Report
FY22 had been an eventful year for Spandana Sphoorty Financial Ltd., starting with the resignation of its erstwhile Managing Director and Chief Executive Officer which triggered operational instability followed by course correction. Corrective measures included:
appointing new and experienced core management,
settling all the disputes with the erstwhile MD by paying one-time settlement amount of ~Rs 400 million,
streamlining the business process as per the revised Reserve Bank of India guidelines and
rolling out Vision 2025 with return on asset /return on equity target of more than 4.5% / more than 20%, respectively.
Therefore, in Q4 FY22, it was focussing more on setting up its strategies, aligning and refining processes to pave the way for achieving Vision 2025 goals.
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