Arohan Financial Services Limited - Market Research Report

Company Overview

Name, Mission of the Company

Company Name: Arohan Financial Services Limited

Mission: To empower under-served households by offering a range of financial services, sustainable for all stakeholders.

Founding and Key People

Date Founded: No information is available

Founders: No information is available

Key People:

Dinesh Kumar Mittal - Chairman

Manoj Kumar Nambiar - Managing Director & Board Member

Vineet Rai - Founder and Group Chairman

Other board members include Rajat M. Nag, Anurag Agrawal, and several nominee directors.

Headquarters

Location: No information is available

Number of Employees

Employees: No information is available

Revenue

Revenue: No information is available

Notable Achievements

Recognized among India's Best Workplaces for Millennials 2024: Top 50 (Large).

Great Place to Work-Certified™ for the 4th time.

Assigned the prestigious GOLD Standard in Client Protection Principle under the Cerise+SPTF Methodology.

Products

Product Offerings

1. Saral

Description: A flagship product for economically active women residing in low-income areas. Loans are disbursed using the Joint Liability Group (JLG) model.

Key Features:

Loan amounts range from INR 25,000 to INR 1,00,000.

Loan tenure of 24 to 30 months.

Interest rate: 24.25%.

2. Micro Enterprise Loan

Description: Targets the working capital needs of small businesses, primarily male customers, operating out of authorized marketplaces.

Key Features:

Loan amounts from INR 50,000 to 2,00,000 INR.

Loan tenure of 18 to 36 months.

Interest rate: 25.25%.

3. Secondary Products

Financial Safety Net Products: Life and health insurance policies offered in partnership with insurance companies.

Non-Financial Products: Utility products like solar lamps, kitchen appliances, and bicycles, often financed through secondary loans.

Recent Developments

New Products and Features

Launch of "Arohan Privilege", addressing the financial needs of customers with advanced product offerings.

Partnership and Technological Advancements

AI-enabled location intelligence platform onboarded for optimized operational efficiency.

Aadhaar-enabled eKYC driven underwriting implemented to improve efficiency in service delivery.

Recent Achievements

Recognized among India's Best Workplaces for Archiving Top-Notch MFI 1 Grade by CareEdge Advisory.

Recorded a four-fold increase in net profit to Rs 104.08 Cr as reported in August 2024.

Conclusion

Arohan Financial Services Limited continues to strengthen its position as a leader in the microfinance sector in India, driven by a mission to empower financially underserved communities. With a broad portfolio of financial products and strategic technological partnerships, Arohan is well-positioned to address the dynamic needs of its customer base. As a notable figure in the financial inclusion arena, it maintains a strong focus on sustainable and ethical business practices, further evidenced by its multiple workplace and industry awards.