The Board of Directors of MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, announced today the unaudited financial results for the quarter ended 30th September, 2022.
The consistent financial performance during all the past turbulent period is the testimony of the strong fundamentals of the company; which is being followed over two decades. We witnessed a healthy growth in business activities across the segment which we serve during the quarter. The same was reflected in disbursement which stood at ` 2261.81 Crore during the quarter ended 30th September 2022 as compared to ` 1476.70 Crore during the corresponding period.
MAS Financial Services Limited reports Assets under Management (AUM) of ` 7138.11 Crore and profit after tax of ` 49.07 Crore for the quarter ended 30th September 2022 from ` 5485.18 Crore and ` 38.32 Crore respectively for the quarter ended 30th September 2021. The AUM as on 30th June 2022 was ` 6683.92 Crore.
A Growth of 30.13% in AUM and 28.04% in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as of 30th September, 2022 stood at 24.14%. The Tier-I capital stood at 21.24%.
The NPA and Stage 3 classification criteria followed by the Company was in compliance with RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021.
The portfolio quality remained stable and strong despite of the prolonged ongoing crisis followed by the unprecedented pandemic situation at 2.26% gross stage 3 assets and 1.60% net stage 3 assets of AUM as compared to 2.27% gross stage 3 assets and 1.63% net stage 3 assets of AUM as on 30th June 2022.
The company continues to carry buffer provision (COVID provision) as on 30th September 2022 of 0.37 % of the total on book assets.
(` in CR)
Particulars
Q2’23
Q2’22
QoQ
H1’23
H1’22
HoH
FY 22
Assets Under Management
7138.11
5485.18
30.13%↑
7138.11
5485.18
30.13%↑
6246.80
Total Income
230.02
156.76
46.73%↑
428.35
305.25
40.33%↑
657.45
Profit Before Tax
65.43
51.53
26.98%↑
127.68
101.06
26.35%↑
211.67
Profit After Tax
49.07
38.32
28.04%↑
95.59
75.15
27.20%↑
157.83
(` in CR)
Asset Under Management (AUM)*
Sept-22
Sept-21
YoY
Micro-Enterprise loans
3589.71
2893.38
24.07%↑
SME loans
2671.58
2002.69
33.40%↑
2-Wheeler loans
469.83
360.98
30.16%↑
Commercial Vehicle loans
273.56
228.13
19.91%↑
Salaried Personal Loans
133.43
0.00
New product Segment↑
TOTAL AUM
7138.11
5485.18
30.13%↑
*Represents underlying assets in each of the category. As on 30th September, 2022 40.96% of the total underlying assets is through various NBFCs.
Note on MAS Rural Housing and Mortgage Finance Limited (Subsidiary)
The Board of Directors of MAS Rural Housing and Mortgage Finance Limited in their meeting held today took on record the unaudited Financial Results of the company for quarter ended 30th September, 2022.
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of ` 382.46 Crore and profit after tax of ` 1.68 Crore for the quarter ended 30th September 2022 from ` 300.26 Crore and ` 1.48 Crore respectively for quarter ended 30th September 2021.
A growth of 27.38% in AUM and 13.47% in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as of 30th September 2022 stood at 44.38%. The Tier-I capital stood at 32.30%.
The NPA and Stage 3 classification criteria followed by the Company was in compliance with RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021.
The portfolio quality remained stable and strong despite of the prolonged ongoing crisis followed by the unprecedented pandemic situation at 0.59% gross stage 3 assets and 0.42% net stage 3 assets of AUM as compared to 0.54% gross stage 3 assets and 0.38% net stage 3 assets of AUM as on 30th June 2022.
The company continues to carry buffer provision (COVID provision) as on 30th September 2022 of 0.98% of the total on book assets.
(` in CR)
Particulars
Q2’23
Q2’22
QoQ
H1’23
H1’22
HoH
FY 22
Assets Under Management
382.46
300.26
27.38%↑
382.46
300.26
27.38%↑
316.34
Total Income
10.50
9.22
13.87%↑
19.39
18.11
7.07% ↑
35.83
Profit Before Tax
2.13
1.89
12.99%↑
3.54
2.95
20.04%↑
5.78
Profit After Tax
1.68
1.48
13.47%↑
2.75
2.31
19.32%↑
4.56
Commenting on the performance, Mr. Kamlesh Gandhi – Founder, Chairman & Managing Director, MAS Financial said, “We have over two & half decade demonstrated that “CONSISTENTLY AND STEADILY IS THE FASTEST WAY TO REACH WHERE YOU WANT TO.”
“Our conviction to grow at a consistent CAGR of 20-25% is based on the strong enablers’ namely high capital adequacy, excellent asset quality accompanied by strong liability management and the niche expertise to serve the huge MSME market. The same was very aptly demonstrated in the working of this quarter and are confident for the same going forward. In consonance with our mission and vision to constantly endeavor to create value for stakeholders on a very large scale through efficient last mile delivery of credit, the main focus of the company continues to remain on maintaining strong capital base, adequate liquidity and quality of assets.”
Team MAS remains committed to its mission of excellence through endeavours.
