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MAS Financial Services Consolidated AUM Crosses 9500 Crore During the Quarter; PAT up by 20.98% to 61.94 in Q2FY24

114 Quarters of Consistent Financial Performance

Strong growth of 27% in AUM

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 2023.

The consistent financial performance 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 2558.22 Crore during the quarter ended 30th September 2023.

Performance Highlights – (Consolidated)

MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of Rs. 9547.07 Crore and profit after tax (PAT) of Rs. 61.94 Crore for the quarter ended 30th September 2023 from Rs. 7518.04 Crore and Rs. 51.20 Crore respectively for the quarter ended 30th September 2022.

A Growth of 26.99% in AUM and 20.98% 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. 9046.19 Crore and profit after tax (PAT) of Rs. 60.01 Crore for the quarter ended 30th September 2023 from Rs. 7138.11 Crore and Rs. 48.75 Crore respectively for the quarter ended 30th September 2022. The AUM as on 31st March 2023 was Rs. 8092.56 Crore.

A Growth of 26.73% in AUM and 23.10% in PAT over the corresponding period of the previous year.

Capital Adequacy Ratio (including Tier II capital) as of 30th September 2023 stood at 25.17%. The Tier-I capital stood at 21.17%.

The portfolio quality remained stable and strong at 2.17% gross stage 3 assets and 1.47% net stage 3 assets of AUM as compared to 2.13% gross stage 3 assets and 1.47% net stage 3 assets of AUM as on 30th June 2023.

The company continues to carry a management overlay of Rs. 18.79 crore as on 30th September, 2023, 0.27% of the total on book assets.

( in Crore)

Particulars

Q224

Q223

YoY

H124

H123

YoY

FY 23

Assets Under Management

9046.19

7138.11

26.73%

9046.19

7138.11

26.73%

8092.56

Total Income

298.16

229.58

29.87%

578.23

427.37

35.30%

949.09

Profit Before Tax

80.02

65.00

23.11%

155.82

126.71

22.97%

264.70

Profit After Tax

60.01

48.75

23.10%

117.26

94.86

23.61%

200.96

( in Crore)

Asset Under Management (AUM)*

September-23

September-22

YoY

Micro-Enterprise loans

4260.43

3589.71

18.68%

SME loans

3232.86

2671.58

21.01%

2-Wheeler loans

623.93

469.83

32.80%

Commercial Vehicle loans

556.53

273.56

103.44%

Salaried Personal Loans**

372.44

133.43

179.13%

TOTAL AUM

9046.19

7138.11

26.73%

*Represents underlying assets in each of the categories. As on 30th September 2023 36.55% of the total underlying assets is through various NBFCs.

New Product Segment

Performance Highlights – MAS Rural Housing and Mortgage Finance Limited (Standalone)

MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of Rs. 500.87 Crore and profit after tax of Rs. 1.90 Crore for the quarter ended 30th September 2023 from Rs. 379.93 Crore and Rs. 2.53 Crore respectively for the quarter ended 30th September 2022.

A growth of 31.83% in AUM over the corresponding period of the previous year.

Capital Adequacy Ratio (including Tier II capital) as of 30th September, 2023 stood at 35.24%. The Tier-I capital stood at 26.24%.

The portfolio quality remained stable and strong at 0.79% gross stage 3 assets and 0.55% net stage 3 assets of AUM as compared to 0.71% gross stage 3 assets and 0.50% net stage 3 assets of AUM as on 30th June 2023.

The company continues to carry a management overlay of Rs. 3.00 crore as on 30th September 2023, 0.76% of the total on book assets.

( in Crore)

Particulars

Q224

Q223

YoY

H124

H123

YoY

FY 23

Assets Under Management

500.87

379.93

31.83%

500.87

379.93

31.83%

413.34

Total Income

14.74

11.67

26.36%

28.35

20.44

38.69%

43.75

Profit Before Tax*

2.47

3.26

24.44%

4.48

4.59

2.33%

8.09

Profit After Tax*

1.90

2.53

24.78%

3.49

3.54

1.22%

6.34

*- Contraction in profit by 0.63 Crores due to higher operating expenditure YoY on account of expansion in branch network & increase in employee count

Commenting on the performance, Mr. Kamlesh Gandhi – Founder, Chairman & Managing Director, MAS Financial said, “The strong and consistent compounding performance demonstrated across cycles over two and half decades, with very strong fundamentals forms the base for the robust and large scale growth of the company thus creating value for all its stake holders going forward. Team MAS remains committed to its mission of excellence through endeavors.”

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