MAS Financial Services surged 9.39% to Rs 326.20 after the company's net profit jumped 22.5% to Rs 68.05 crore in Q4 FY24 as compared with Rs 55.55 crore posted in corresponding quarter last year.
Revenue from operations increased 23% YoY to Rs 328.10 crore during the quarter.Profit before tax increased 29.37% to Rs 91.09 crore in quarter ended 31 March 2024 as compared with Rs 70.41 crore posted in Q4 FY23.
Net interest income (NII) stood at Rs 168 crore in Q4 FY24, registering the growth of 35.14% as compared with Rs 124 crore posted in same quarter last year.
Asset under management (AUM) jumped 25.12% to Rs 10,125.61 crore during the quarter as compared with Rs 8092.56 crore in corresponding quarter last year. Out of the total AUM, maximum growth was recorded in the commercial vehicle loans (up 100% YoY ) followed by salaried personal loans (up 93.13% YoY), SME Loans (up 25.02% YoY), 2 wheeler loans (up 20.88% YoY), Micro enterprises loans (up 13.19% YoY).
Capital Adequacy Ratio (including Tier ll capital) as of 31st March 2024 stood at 24.05%, The Tier-l capital stood at 20.13%.
The company continues to carry a management overlay of (Rs 18.79 crore as on 31st March 2024, O.24% of the on book assets.
The MSME segment contributed around 60% in the YoY AUM growth of the company while other products also contributed meaningfully.
During the quarter, the company's long term bank facilities and non-convertible debentures rating has been upgraded to CARE AA- (Outlook: Stable) from CARE A+ (Outlook: Positive) by CARE Ratings (CARE).
Meanwhile, the companys board declared a dividend of Rs 0.51 per equity share for FY24.
Further, the board has approved the borrowings of funds by way of issuance of secured/unsecured non convertible debentures and commercial papers upto an aggregate amount of Rs 1,500 crore and Rs 500 crore respectively, in one or more tranches through private placement basis .
Kamlesh Gandhi - founder, chairman & managing director, said, As we usher in to the next phase, post reaching an important milestone of (10,000 crore 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.
MAS Financial Services is a non-deposit accepting NBFC. While the company initially provided consumer durable financing, it currently provides corporate loans to NBFC-MFIs and other NBFCs engaged in retail finance, small ticket business loans, small commercial vehicle loans, two-wheeler loans and machinery finance.
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