MAS Financial Services Ltd IPO – Company Profile, Price, Analysis, Update
Update
Q1 FY 2022-23 Earnings
MAS Financial Services Limited – specialized in MSME financing, announced today its financial results for the quarter ended 30th June, 2022.
The Company reports Assets under Management (AUM) of INR 6683.92 Cr and PAT of INR 46.52 Cr for the quarter ended 30th June 2O22 from INR 5161.63 Cr and INR 36.83 Cr respectively for the quarter ended 30th June 2021, registering a Growth of 29.49% in AUM and 26.33% in PAT over the corresponding period of the previous year. The AUM of the company as on 31st March 2022 was at INR 6246.80 Cr.
Capital Adequacy Ratio of MAS financial (including Tier-ll capital) as of 30th June, 2022 stood at 25.28%, while the Tier-l capital stood at 22.49%
Must Read: Nifty prediction for August 2022
The portfolio quality remained stable and strong despite of the prolonged on-going crisis followed by the unprecedented pandemic situation at 2.27% gross stage 3 assets and 1.63 % net stage 3 assets of AUM as compared to 2.28% gross stage 3 assets and 1.70 % net stage 3 assets of AUM as on 31 March 2022.
The Company continues to carry buffer provision (COVID provision) of INR 33.95 Cr as on 3Oth June 2022 which is 0.62% of the total on book assets.
Subsidiary Company’s Performance
MAS Rural Housing and Mortgage Finance Limited, reports AUM of INR 343.2 Cr and profit after tax of INR 1.07 Cr for the quarter ended 30th June 2022 from INR 294.70 Cr and INR 0.82 Cr respectively for quarter ended 30th June ’21, a growth of 16.46% and 46.43% in AUM and PAT.
Chariman & MD’s Speech –
Commenting on the performance, Kamlesh Gandhi said, we have over two & half decade demonstrated that “CONSISTENTLY AND STEADILY lS THE FASTEST WAY TO REACH WHERE YOU WANT TO”
As shared earlier we have the strong conviction that the company has excellent enablers to grow at a consistent CAGR of 20-25%, the same was very aptly demonstrated in the working of this quarter and are confident for the same going forward.
ln consonance with our mission and vision to constantly endeavor to create value for stakeholders on a very large scale through efficient last mile delivery of credit, the main focus of the company continues to remain on maintaining strong capital base, adequate liquidity and quality of assets.
Daily Chart –
mas financial services ltd share price ends at INR 569 at the National Stock Exchange with a volume of 42,966 shares.
Final Comment: The Company has posted solid set of numbers for the Q1 FY23. The top-line and bottom-line of MAS financial has shown healthy growth on the back of strong demand. Though the company is posting good earnings the same is not reflected in the share price. Finblab has a neutral view on the company.
Also Read: A list Q1 Earnings for the week
29 September 2017
MAS Financial Services Limited – a Gujarat-headquartered NBFC (Non-Banking Financial Company) with more than 2 decades of business operations, is planning to raise INR 460.04 crore (233 crores of Fresh Issue + 227.04 crores of OFS) via initial public offer (IPO)
MAS Financial Services Limited – Company Profile
MAS Financial Services Limited is a specialized retail financing organization engaged in financial services since 1995, registered with RBI (Reserve Bank of India) as an NBFC.
Working Area
- Company Focus: MAS Financial Services is focused on fulfilling the requirements of lower and middle-income groups of the society spread across urban, semi-urban and rural areas, and including formal and informal sector.
- Product and Services: The Company offer Financial Services for (1) Micro Enterprises Loans, (2) SME Loans – Machinery Loan, Industrial Shed Loan, Working Capital Loan and Loans Against Property, (3) Home Loans, (4) Two Wheeler Loans, (5) Used Car Loans, and (6) Commercial Vehicle Loans to satisfy customers varied needs.
- Network: The Company operated across six states (Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Tamilnadu & Karnataka) and in Delhi through 119 branches.
- Loan Account and Customer Base: As of September 30, 2016, The Company had more than 530,000 active loan accounts and 3,200 Customer.
- The Company also has commission based direct sales agents and revenue sharing arrangements with various dealers and distributors where part of loan default is guaranteed by such sourcing partners.
Company Promoters
- Kamlesh Chimanlal Gandhi
- Mukesh Chimanlal Gandhi
- Shweta Kamlesh Gandhi and
- Prarthna Marketing Private Limited
IPO Opening / Closing Dates & Listing
IPO Details – Issue Price, Minimum Bid and Other
Financial Performance
Revenues
The Company shows steady revenue growth in recent years. Top-line has been increasing regularly for the last 5 years and jumped from INR 138.85 crore in FY 2013 to INR 341.52 crore for the period ended FY 2017.
Profits
Though the company has shown superb growth in revenue, the company has also registered impressive profits in these 5 years. Starting from INR 26.84 crore of profits in FY2013, the company’s earnings improved to INR 67.42 crore for the period ended FY 2017.
CONCLUSION –
Considering company’s valuation and financial parameters, FinBlab recommends SUBSCRIBE ratings on MAS Financial IPO.
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