Evolution and Growth
1. Mitrata was registered in July 2009.
2. Phase I - Setting the Foundation
- Mitrata got launched with its first branch in Rehmat Nagar in Moradabaad in Jan 2010.
- Microfinance crisis occurred in Andhra Pradesh in Oct 2010 which changed of environment in microfinance sector; Mitrata continued to tread with caution and grew steadily.
- Mitrata reached 1 Cr disbursal mark by Mar 2011.
- Mitrata reached 2 Cr loan portfolio with over 3000 active clients and increased its presence in two districts of UP by Mar 2013.
3. Phase II - Growth and Expansion
- Mitrata crossed 5000 active client mark by Mar 2015; began Phase II of moving towards NBFC regime.
- Mitrata crossed 8.5 Cr in outstanding portfolio by Mar 2016, growth of over 250% in FY 2015-16, received first external funding, along with further strengthening of Internal Process, Systems and Human Capital, and enhanced preparedness for NBFC.
- Regular infusion of capital by the promoters along with reinvestment of all surplus income over expenses in last 5 years indicates a long term commitment and strong confidence on the robustness of the program by the promoters and management. Currently the program is well capitalized to leverage more debt/external borrowing to fuel the growth with extremely low Debt/equity ratio of 6% in FY 2015-16.
- With a strong focus on efficiency, productivity and growth in portfolio in FY 2015-16, there has been significant growth in income compared to costs leading to a very healthy Operational Self Sufficiency (OSS) ratio of 161% by Mar 2016.
Stories of Change
A Fresh StartLife took an unexpected turn for Zeba when her husband, Fukran, 48 met with tragedy on August 2013 while travelling on business from his home town in Moradabad to New Delhi.
Saqunat's Ray Of HopeSaqunat is a resident of Bhojpur village in Moradabad district of Uttar Pradesh. Saqunat was a daily wage worker employed in an informal production unit. The work was irregular ...