MAS Financial Reports 24% Growth in AUM & 26% in PAT in Q1FY25; Consolidated AUM Crosses Rs. 11,000 Crores
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 2024.
117 Quarters of 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. 2774.91 Crores during the quarter ended 30th June 2024.
During the quarter, the Company raised Rs. 500 Crores in equity through Qualified Institutional Placement (QIP). The issue garnered a strong response from a diverse group of marquee institutional investors reflecting broad-based interest. This QIP marked the first equity raise by the Company since its IPO in 2017 and witnessed an overwhelming response resulting in demand of multiple times over the issue size.
Performance Highlights – (Consolidated)
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of Rs. 11006.72 Crores and Profit after Tax (PAT) of Rs. 72.56 Crores for the quarter ended 30th June 2024 from Rs. 8867.94 Crores and Rs. 57.56 Crores respectively for the quarter ended 30th June 2023.
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A Growth of 24.12 % in AUM and 26.06 % 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. 10383.59 Crores and Profit after Tax (PAT) of Rs. 70.43 Crores for the quarter ended 30th June 2024 from Rs. 8417.85 Crores and Rs. 57.25 Crores respectively for the quarter ended 30th June 2023. The AUM as on 31st March 2024 was Rs. 10125.61 Crores.
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A Growth of 23.35% in AUM and 23.02% in PAT over the corresponding period of the previous year.
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Capital Adequacy Ratio (including Tier II capital) as of 30th June 2024 stood at 28.59%. The Tier-I capital stood at 25.39%.
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The portfolio quality remained stable and strong at 2.29% gross stage 3 assets and 1.52% net stage 3 assets of AUM as compared to 2.25% gross stage 3 assets and 1.51% net stage 3 assets of AUM as on 31st March 2024.
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The company continues to carry a management overlay of Rs. 17.60 Crores as on 30th June 2024, 0.22% of the on book assets.
( in Crores)
|
Particulars |
Q125 |
Q124 |
YoY |
FY24 |
|
Assets Under Management |
10383.59 |
8417.85 |
23.35%↑ |
10125.61 |
|
Total Income |
346.50 |
280.10 |
23.71%↑ |
1,229.28 |
|
Profit Before Tax |
94.39 |
75.80 |
24.53%↑ |
331.42 |
|
Profit After Tax |
70.43 |
57.25 |
23.02%↑ |
247.75 |
( in Crores)
|
Asset Under Management (AUM)* |
June-24 |
June-23 |
YoY |
|
Micro-Enterprise Loans |
4523.37 |
4021.20 |
12.49%↑ |
|
SME Loans |
3783.88 |
3074.80 |
23.06%↑ |
|
2-Wheeler Loans |
668.63 |
570.86 |
17.13%↑ |
|
Commercial Vehicle Loans |
817.30 |
448.39 |
82.28%↑ |
|
Salaried Personal Loans |
590.40 |
302.60 |
95.11%↑ |
|
TOTAL AUM |
10383.59 |
8417.85 |
23.35%↑ |
*Represents underlying assets in each of the categories. As on 30th June 2024, 34.20% of the total underlying assets are through various NBFCs.
The MSME segment contributed ~62% 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. 623.13 Crores and Profit after Tax of Rs. 2.17 Crores for the quarter ended 30th June 2024 from Rs. 450.10 Crores and Rs. 1.59 Crores respectively for the quarter ended 30th June 2023.
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A very strong growth of 38.44% in AUM and 36.41% in PAT over the corresponding period of the previous year.
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Capital Adequacy Ratio (including Tier II capital) as on 30th June 2024 stood at 35.96%. The Tier-I capital stood at 29.05%.
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The portfolio quality remained stable and strong at 0.90% gross stage 3 assets and 0.65% net stage 3 assets of AUM as compared to 0.90% gross stage 3 assets and 0.66% net stage 3 assets of AUM as on 31st March 2024.
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The company continues to carry a management overlay of Rs. 3.00 Crores as on 30th June 2024, 0.63% of the on book assets.
( in Crores)
|
Particulars |
Q125 |
Q124 |
YoY |
FY24 |
|
Assets Under Management |
623.13 |
450.10 |
38.44%↑ |
596.29 |
|
Total Income |
18.63 |
13.61 |
36.91%↑ |
62.46 |
|
Profit Before Tax |
2.80 |
2.02 |
38.46%↑ |
9.58 |
|
Profit After Tax |
2.17 |
1.59 |
36.41%↑ |
7.58 |
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.“
