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 2024.
118 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. 3082.53 Crores during the quarter ended 30th September 2024.
Performance Highlights – (Consolidated)
MAS Financial Services Limited on a consolidated basis reports Assets under Management (AUM) of Rs. 11681.18 Crores and Profit after Tax (PAT) of Rs. 77.62 Crores for the quarter ended 30th September 2024 from Rs. 9547.07 Crores and Rs. 61.94 Crores respectively for the quarter ended 30th September 2023.
A Growth of 22.35 % in AUM and 25.31 % 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. 11016.65 Crores and Profit after Tax (PAT) of Rs. 76.57 Crores for the quarter ended 30th September 2024 from Rs. 9046.19 Crores and Rs. 60.01 Crores respectively for the quarter ended 30th September 2023. The AUM as on 30th June 2024 was Rs. 10383.59 Crores. The standalone disbursement was Rs. 3022.13 Crores during the quarter ended 30th September 2024.
A Growth of 21.78 % in AUM and 27.60 % in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as of 30th September 2024 stood at 26.52%. The Tier-I capital stood at 23.76%.
The portfolio quality remained stable and strong at 2.36% gross stage 3 assets and 1.57% net stage 3 assets of AUM as compared to 2.29% gross stage 3 assets and 1.52% net stage 3 assets of AUM as on 30th June 2024.
The company continues to carry a management overlay of Rs. 17.60Crores as on 30th September 2024, 0.20% of the on book assets.
(in Crores)
Particulars
Q225
Q224
YoY
FY24
Assets Under Management
11016.65
9046.19
21.78%↑
10125.61
Total Income
366.95
296.52
23.75%↑
1,229.28
Profit Before Tax
102.07
80.02
27.56%↑
331.42
Profit After Tax
76.57
60.01
27.60%↑
247.75
(in Crores)
Asset Under Management (AUM)*
September-24
September -23
YoY
Micro-Enterprise Loans
4745.79
4260.43
11.39%↑
SME Loans
3973.97
3232.86
22.92%↑
2-Wheeler Loans
711.73
623.93
14.07%↑
Commercial Vehicle Loans
900.28
556.53
61.77%↑
Salaried Personal Loans
684.88
372.44
83.89%↑
TOTAL AUM
11016.65
9046.19
21.78%↑
*Represents underlying assets in each of the categories. As on 30th September 2024, 33.91% of the total underlying assets are through various NBFCs.
The MSMEsegment 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. 664.53 Crores and Profit after Tax of Rs. 2.37 Crores for the quarter ended 30th September 2024 from Rs. 500.87 Crores and Rs. 1.90 Crores respectively for the quarter ended 30th September 2023.
A very strong growth of 32.67% in AUM and 24.63% in PAT over the corresponding period of the previous year.
Capital Adequacy Ratio (including Tier II capital) as on 30th September 2024 stood at 33.68 %. The Tier-I capital stood at 28.19 %.
The portfolio quality remained stable and strong at 0.93% gross stage 3 assets and 0.68% net stage 3 assets of AUM as compared to 0.90% gross stage 3 assets and 0.65% net stage 3 assets of AUM as on 30th June 2024.
The company continues to carry a management overlay of Rs. 3.00 Crores as on 30th September 2024, 0.61% of the on book assets.
(in Crores)
Particulars
Q225
Q224
YoY
FY24
Assets Under Management
664.53
500.87
32.67%↑
596.29
Total Income
19.87
14.74
34.83%↑
62.46
Profit Before Tax
3.04
2.47
23.49%↑
9.58
Profit After Tax
2.37
1.90
24.63%↑
7.58
Commenting on the performance, Mr. Kamlesh Gandhi – Founder, Chairman & Managing Director, MAS Financial said, “We remain focused and committed to our basics of extending credit where it is due while demonstrating over all robust performance. We are confident to maintain a fundamentally strong and consistent growth. 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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