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 2023.
The consistent financial performance during all the past turbulent period is the testimony of the strong fundamentals of the company, which has been followed over more than two decades. We witnessed a healthy growth in business activities across the segments we serve during the quarter. The consolidated disbursement was 2334.50 Crore during the quarter ended 30th June 2023.
Performance Highlights – (Consolidated)
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of 8867.94 Crore and profit after tax (PAT) of 57.56 Crore for the quarter ended 30th June 2023 from 7025.14 Crore and 45.91 Crore respectively for the quarter ended 30th June 2022.
A Growth of 26.23% in AUM and 25.38% in PAT over the corresponding period of the previous year.
Performance Highlights – MAS Financial Services limited (Standalone)
MAS Financial Services Limited reports Assets under Management (AUM) of 8417.85 Crore and profit after tax (PAT) of 57.25 Crore for the quarter ended 30th June 2023 from 6683.92 Crore and 46.11 Crore respectively for the quarter ended 30th June 2022. The AUM as on 31st March 2023 was 8092.56 Crore.
A Growth of 25.94% in AUM and 24.16% in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as of 30th June 2023 stood at 25.31%. The Tier-I capital stood at 21.11%.
The portfolio quality remained stable and strong at 2.13% gross stage 3 assets and 1.47% net stage 3 assets of AUM as compared to 2.15% gross stage 3 assets and 1.52% net stage 3 assets of AUM as on 31st March 2023.
The company continues to carry a management overlay of 21.46 crore as on 30th June, 2023, 0.32% of the total on book assets.
( in Crore)
Particulars
Q124
Q123
YoY
FY 23
Assets Under Management
8417.85
6683.92
25.94%↑
8092.56
Total Income
280.07
197.79
41.60%↑
949.09
Profit Before Tax
75.80
61.71
22.83%↑
264.70
Profit After Tax
57.25
46.11
24.16%↑
200.96
( in Crore)
Asset Under Management (AUM)*
June-23
June-22
YoY
Micro-Enterprise loans
4021.20
3462.49
16.14%↑
SME loans
3074.80
2443.21
25.85%↑
2-Wheeler loans
570.86
386.43
47.73%↑
Commercial Vehicle loans
448.39
332.45
34.87%↑
Salaried Personal Loans
302.60
59.34
New Product introduced in June-22
TOTAL AUM
8417.85
6683.92
25.94%↑
*Represents underlying assets in each of the categories. As on 30th June, 2023 37.18% of the total underlying assets is through various NBFCs.
Performance Highlights – MAS Rural Housing and Mortgage Finance Limited (Standalone)
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of 450.10 Crore and profit after tax of 1.59 Crore for the quarter ended 30th June 2023 from 341.22 Crore and 1.01 Crore respectively for the quarter ended 30th June 2022.
A growth of 31.91% in AUM and of 57.97% in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as of 30th June, 2023 stood at 39.00%. The Tier-I capital stood at 28.86%.
The portfolio quality remained stable and strong at 0.71% gross stage 3 assets and 0.50% net stage 3 assets of AUM as compared to 0.70% gross stage 3 assets and 0.52% net stage 3 assets of AUM as on 31st March 2023.
The company continues to carry a management overlay of 3.12 crore as on 30th June, 2023, 0.87% of the total on book assets.
( in Crore)
Particulars
Q124
Q123
YoY
FY 23
Assets Under Management
450.10
341.22
31.91%↑
413.34
Total Income
13.61
8.78
55.08%↑
43.75
Profit Before Tax
2.02
1.33
51.97%↑
8.09
Profit After Tax
1.59
1.01
57.97%↑
6.34
Commenting on the performance, Mr. Kamlesh Gandhi – Founder, Chairman & Managing Director, MAS Financial said, “The continuous and consistent performance of the company demonstrated during this quarter is the function of the strong fundamentals and a very prudent approach of “Extending credit where it is due”. We visualize a very strong and consistent growth going forward continuing our legacy of more than two decades.”
Team MAS remains committed to its mission of excellence through endeavors.