MAS Financial Services Limited Results - 4th Quarter FY 18: A Robust Financial Performance

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MAS Financial Services Limited

10 May, 2018, 17:54 IST

AHMEDABAD, India, May 10, 2018 /PRNewswire/ --

MAS Financial Services Limited PAT zooms up by 100.63% in FY2018 

MAS Financial Services Limited reports Assets under Management (AUM) of Rs. 4,114.45 crore and profit after tax of Rs. 103.37 crore for the year ended 31 March 2018 - A Growth of 30.36% and 53.44% over corresponding period of previous year respectively.

The profit after tax for Q4 is Rs. 29.91 crore - A growth of 100.63% over corresponding period of the previous year.

The Board of Directors of MAS Financial Services Limited, in their meeting held today, took on record the Audited Financial Results of the company for the year ended 31 March 2018.

Performance Highlights: 

  • Disbursement (Net) made during year ended 31 March 2018 - 24.75 % to Rs. 3,891.40 crore from Rs. 3,119.24 crore in year ended 31 March 2017.
  • Disbursement (Net) made during Q4 FY 18 - 18.43% to Rs. 1,260.29 crore from Rs. 1,064.17 crore in Q4 FY 17.
  • Assets under Management (AUM) as of 31 Mar 2018 - 30.36% to Rs. 4,114.45 crore from Rs. 3,156.14 crore as on 31 March 2017 with Gross NPA and Net NPA as of 31 Mar 2018 at 1.15 % and 0.91% respectively. The Gross and Net NPA on 4 months overdue stood at 1.09 % and 0.95% as of 31 March 2017.

As required by RBI Guidelines, the Company has moved its NPA recognition policy from 4 months overdue to 3 months overdue in this financial year. The Company continues to provide for loan losses in excess of RBI requirements.

  • Total Income for year ended 31 March 2018 - 25.29 % to Rs. 427.87 crore from Rs. 341.52 crore in year ended 31 March 2017.
  • Total Income for Q4 FY 18 - 35.12% to Rs 113.53 crore from Rs. 84.03 crore in Q4 FY 17.
  • Profit After Tax for year ended 31 March 2018 - 53.44 % to Rs. 103.37 crore from Rs. 67.37 crore in year ended 31 March 2017.
  • Profit After Tax for Q4 FY 18 - 100.63 % to Rs. 29.91 crore from Rs. 14.91 crore in Q4 FY 17.
  • Capital Adequacy Ratio (including Tier II capital) as of 31 March 2018 stood at 31.29%. The Tier-I capital stood at 29.06%.
  • Dividend : In consonance to their policy of rewarding the share holders, the Board of Directors of the Company has recommended final dividend of Rs. 2.16 per equity share of face value of Rs. 10 each, which is subject to approval by shareholders of the Company.

Note on MAS Rural Housing and Mortgage Finance Limited (Subsidiary): 

The Board of Directors of MAS Rural Housing and Mortgage Finance Limited in their meeting held on 2nd May 2018 took on record the Audited Financial Results of the company for the year ended 31 March 2018.

MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of Rs. 203.95 crore and profit after tax of Rs. 2.50 crore for year ended 31 March 2018 - A Growth of 15.60% and 28.34% over corresponding period of previous year respectively. 

The profit after tax for Q4 is Rs. 0.69 crore - A growth of 8.12% over corresponding period of the previous year. 

  • Gross NPA and Net NPA as of 31 March 2018 stood at 0.36 % and 0.27% respectively. The Gross and Net NPA stood at 0.41% and 0.34% as of 31 March 2017.
  • Capital Adequacy Ratio (including Tier II capital) as of 31 March 2018 stood at 31.82%. The Tier-I capital stood at 26.81%.

About MAS Financial Servies Limited 

MAS Financial Services Limited ("MAS") is a Gujarat-headquartered NBFC with more than two decades of business operations and as of June 30, 2017. MAS operate across six states and the NCT of Delhi. Their business and financing products are primarily focused on middle and low income customer segments, and include five principal categories: (i) micro-enterprise loans; (ii) SME loans; (iii) two-wheeler loans; (iv) Commercial Vehicle loans (which include new and used commercial vehicle loans, used car loans and tractor loans); and (v) housing loans. The Promoters of MAS have significant operational experience in the financial services sector in India.

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