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Analyst Meet / AGM
10-May-18
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Conference Call
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Mas Financial Services
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Expects to sustain AUM growth of 25-30%, record 25% growth in PBT for FY2019
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Mas Financial Services conducted a conference call on 09 May 2018 to discuss the financial results for the quarter March 2018. Kamlesh Gandhi, Chairman and Managing Director of the company addressed the call:
Highlights:
- The company has posted strong 30% growth in the asset under management to Rs 4114.5 crore end March 2018, while the company has recorded strong 53% growth in net profit to Rs 103.37 crore in FY2018 supported by funds raised in IPO.
- The disbursements increased 25% to Rs 3891 crore in FY2018 from Rs 3119 crore in FY2017.
- The company expects AUM growth of 25% for FY2019 to reach raise it to Rs 5200-5300 crore including housing finance by end March 2019.
- The company has been able to grow AUM in the range of 25-30% and double profit every three year, while it expects to continue similar performance in future.
- The company has maintained strong asset quality with GNPA ratio at 1.15% and NNPA at 0.91% end March 2018.
- The housing loan book of the subsidiary company increased 15.6% to Rs 204 crore, while GNPA improved to 0.36% and NNPA to 0.27% end March 2018. The company posted 28% growth in the net profit to Rs 2.5 crore in FY2018.
- The company has reduced cost of borrowings to 8.67% and cost of funds to 7.74% in FY2018
- The company has been focusing on portfolio assignment which account for 35-40% of AUM, supporting to derisk balance sheet and control cost of borrowings. The company has conducted assignment transactions of Rs 1800 crore in FY2018.
- The segment wise incremental yields were micro-enterprise loans at 15.4%, SME at 15.4%, 2 Wheelers at 18.2% and commercial vehicle loans at 17.5%.
- The company has recorded RoE of 19% on expanded capital base, while expects to continue to maintain RoE at 19-20%.
- The company expects to post 25% growth in PBT for FY2019, while targets to increase number of locations to above 3600 from existing 3300 end March 2018.
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