MAS Financial Services Q1FY23 PAT up 26.33% to Rs.46.52 cr

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The consolidated AUM of the company crossed 7000 Crore during the quarter.

A strong growth of 29% YOY.

Wednesday, 03rd August 2022, India:-  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 June 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 ` 2153.73 Crore during the quarter ended 30th June 2022 as compared to 1041.37 Crore during the corresponding period. Disbursement during March 22 quarter was 1962.33 Crore.

Performance Highlights

MAS Financial Services Limited reports Assets under Management (AUM) of ` 6683.92 Crore and profit after tax of ` 46.52 Crore for the quarter ended 30th June 2022 from ` 5161.63 Crore and ` 36.83 Crore respectively for the quarter ended 30th June 2021. The AUM as on 31st March 2022 was ` 6246.80 Crore.

–          A Growth of 29.49 % in AUM and 26.33 % in PAT over the corresponding period of the previous year.

–          Capital Adequacy Ratio (including Tier II capital) as of 30th June, 2022 stood at 25.28 %. The Tier-I capital stood at 22.49%.

–          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 2.27% gross stage 3 assets and 1.63 % net                  stage 3 assetsof AUM as compared to 2.28% gross stage 3 assets and 1.70 % net stage 3 assets of AUM as on 31st March 2022.

–          The company continues to carry buffer provision (COVID provision) of ` 33.95 Crore as on 30th June 2022 which is 0.62 % of the total on book assets.

(` in CR)

ParticularsQ1’23Q1’22QoQFY 22
Assets Under Management6683.925161.6329.49%6246.80
Total Income198.33148.5033.56%657.45
Profit Before Tax62.2649.5325.69%211.67
Profit After Tax46.5236.8326.33%157.83

 (` in CR)

Asset Under Management (AUM)*Jun-22Jun-21YoY
Micro-Enterprise loans3519.122761.8627.42%
SME loans2445.911813.0634.91%
2-Wheeler loans386.43374.963.06%
Commercial Vehicle loans332.45211.7656.99%
TOTAL AUM6683.925161.6329.49%

*Represents underlying assets in each of the category. As on 30th June, 2022 45.32% of the total underlying assets is through various NBFCs.

*June-22 AUM includes ` 59.34 Crore of personal loans.

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 June, 2022.

Performance Highlights

MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of ` 343.21 Crore and profit after tax of ` 1.07 Crore for the quarter ended 30th June 2022 from ` 294.70 Crore and ` 0.82 Crore respectively for quarter ended 30th June 2021.

–          A growth of 16.46 % in AUMand 29.86 % in PAT over the corresponding period of the previous year.

–          Capital Adequacy Ratio (including Tier II capital) as of 30th June 2022 stood at 46.43 %. The Tier-I capital stood at 33.43 %.

–          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 0.54% gross stage 3 assets and 0.38% net                  stage 3 assets of AUM as compared to 0.53% gross stage 3 assets and 0.38% net stage 3 assets of AUM as on 31st March 2022.   

–          The company continues to carry buffer provision (COVID provision) of ` 3.00 Crore as on 30th June 2022 which is 1.06 % of the total on book assets.

(` in CR)

ParticularsQ1’23Q1’22QoQFY 22
Assets Under Management343.21294.7016.46%316.34
Total Income8.898.890.03% 35.83
Profit Before Tax1.411.0632.53%5.78
Profit After Tax1.070.8229.86%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”

“As shared earlier we have the strong conviction that the company has excellent enablers to grow at a consistent CAGR of 20-25%, 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.

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