MAS Financial Reports a Strong Growth in Q3FY24 with 27.63% Jump in AUM & 24.15% in PAT; Consolidated AUM Crosses Rs. 10,000 Crore During the Quarter
Wednesday, 24 January 2024
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 31^st December 2023.
This quarter witnessed a very important milestone of Rs. 10,000 crores in AUM being crossed by the company. We took this opportunity to reward the shareholders by issuing bonus shares in the ratio of 2:1 (i.e. Two Bonus shares for every One share held). The consistent financial performance is the testimony of the strong fundamentals of the company, which has been followed over more than two and half decades. We witnessed a healthy growth in business activities across the segments we serve, during the quarter. The consolidated disbursement was Rs. 2724 Crore during the quarter ended 31^st December 2023.
*Performance Highlights - (Consolidated)*
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of 10216.05 Crore and Profit after Tax (PAT) of Rs. 64.41 Crore for the quarter ended 31^st December 2023 from Rs. 8004.59 Crore and Rs. 51.88 Crore respectively for the quarter ended 31^st December 2022.ยท A Growth of* 27.63% *in AUM and* 24.15% *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 Rs. 9672.03 Crore and Profit after Tax (PAT) of Rs. 62.44 Crore for the quarter ended 31^st December 2023 from Rs. 7606.04 Crore and Rs. 50.55 Crore respectively for the quarter ended 31^st December 2022. The AUM as on 30^th September 2023 was Rs. 9046.19 Crore.ยท A Growth of* 27.16% *in AUM and* 23.52% *in PAT over the corresponding period of the previous year.
ยท Capital Adequacy Ratio (including Tier II capital) as of 31^st December 2023 stood at* 24.47%. *The Tier-I capital stood at* 20.59%. *
ยท The portfolio quality remained stable and strong *at 2.23% gross stage 3 assets and 1.48% net stage 3 assets of AUM as compared* to* 2.17% *gross stage 3 assets and* 1.47% *net stage 3 assets of AUM as on 30^th September 2023.
ยท The company continues to carry a management overlay of *Rs.** 18.79 crore* as on 31^st December, 2023, *0.25% *of the total on book assets.*(Rs. in Crore) *
*Particulars*
*Q324*
*Q323*
*YoY*
*9MFY24*
*9MFY23*
*YoY*
*FY 23*
Assets Under Management
9672.03
7606.04
27.16%*โ*
9672.03
7606.04
27.16%*โ*
8092.56
Total Income
325.77
251.47
29.55%*โ*
904.00
678.84
33.17%*โ*
949.09
Profit Before Tax
84.51
67.58
25.05%*โ*
240.33
194.29
23.70%*โ*
264.70
Profit After Tax
62.44
50.55
23.52%*โ*
179.70
145.41
23.58%*โ*
200.96
* (Rs. in Crore)*
*Asset Under Management (AUM)**
*December-23*
*December-22*
*YoY*
Micro-Enterprise Loans
4344.68
3777.12
15.03%*โ*
SME Loans
3450.30
2840.69
21.46%*โ*
2-Wheeler Loans
670.90
501.57
33.76%*โ*
Commercial Vehicle Loans
661.70
291.84
126.73%*โ*
Salaried Personal Loans**
544.46
194.82
179.47%*โ*
*TOTAL AUM*
*9672.03*
*7606.04*
*27.16%**โ**Represents underlying assets in each of the categories. As on 31^st December 2023, 34.17% of the total underlying assets are through various NBFCs.
**New Product Segment
The *MSME**segment* contributed *~60%* in the *YoY AUM growth* of the company while other products also contributed meaningfully.
*Performance Highlights - **MAS** Rural Housing and Mortgage Finance Limited (Standalone)*
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management of Rs. 544.02 Crore and Profit after Tax of Rs. 2.01 Crore for the quarter ended 31^st December 2023 from Rs. 398.55 Crore and Rs. 1.44 Crore respectively for the quarter ended 31^st December 2022.ยท A growth of* 36.50% *in AUM and* 39.77% *in PAT over the corresponding period of the previous year.
ยท Capital Adequacy Ratio (including Tier II capital) as on 31^st December, 2023 stood at* 31.52%. *The Tier-I capital stood at* 23.66%.*
ยท The portfolio quality remained stable and strong at *0.81%* gross stage 3 assets and *0.58% *net stage 3 assets of AUM as compared to *0.79% *gross stage 3 assets and *0.55%* net stage 3 assets of AUM as on 30^th September 2023.
ยท The company continues to carry a management overlay of *Rs.** 2.99 crore* as on 31^st December, 2023, *0.72% *of the total on book assets.
รขยย
*(Rs. in Crore)*
*Particulars*
*Q324*
*Q323*
*YoY*
*9MFY24*
*9MFY23*
*YoY*
*FY 23*
Assets Under Management
544.02
398.55
36.50%*โ*
544.02
398.55
36.50%*โ*
413.34
Total Income
16.42
10.91
50.57%*โ*
44.77
31.35
42.82%*โ*
43.75
Profit Before Tax
2.47
1.80
37.05%*โ*
6.95
6.39
8.77%*โ*
8.09
Profit After Tax
2.01
1.44
39.77%*โ*
5.50
4.97
10.61%*โ*
6.34
Commenting on the performance, *Mr. Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial* said, "As we usher in to the next phase, post reaching an important milestone of Rs. 10,000 crores in AUM; we are confident to maintain a fundamentally strong growth momentum. Adequate capitalization, strong asset quality and a track record of more than 25 years to navigate across various cycles will ensure the same thus creating value on a large scale for all its stakeholders. Team MAS remains committed to its mission of excellence through endeavors."
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