MAS Financial Services Q1FY23 PAT up 26.33 per cent to Rs 46.52 Cr

Ahmedabad (Gujarat) [India], August 4 (ANI/NewsVoir): 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 June 30, 2022.
The consistent financial performance during all the past turbulent period is the testimony of the strong fundamentals of the company; which is being followed over two decades. We witnessed a healthy growth in business activities across the segment which we serve during the quarter. The same was reflected in disbursement which stood at ` 2153.73 Crore during the quarter ended 30th June 2022 as compared to ` 1041.37 Crore during the corresponding period. Disbursement during March 22 quarter was ` 1962.33 Crore.
Performance Highlights

MAS Financial Services Limited reports Assets under Management (AUM) of ` 6683.92 Crore and profit after tax of ` 46.52 Crore for the quarter ended 30th June 2022 from ` 5161.63 Crore and ` 36.83 Crore respectively for the quarter ended 30th June 2021. The AUM as on 31st March 2022 was ` 6246.80 Crore.
- A Growth of 29.49 per cent in AUM and 26.33 per cent in PAT over the corresponding period of the previous year.
- The Capital Adequacy Ratio (including Tier II capital) as of June 30, 2022, stood at 25.28 per cent. The Tier-I capital stood at 22.49 per cent.
- The NPA and Stage 3 classification criteria followed by the Company was in compliance with RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021.
- The portfolio quality remained stable and strong despite of the prolonged ongoing crisis followed by the unprecedented pandemic situation at 2.27 per cent gross stage 3 assets and 1.63 per cent net stage 3 assets of AUM as compared to 2.28 per cent gross stage 3 assets and 1.70 per cent net stage 3 assets of AUM as on March 31, 2022.
- The company continues to carry buffer provision (COVID provision) of ` 33.95 Crore as on June 30, 2022, which is 0.62 per cent of the total on book assets.

*Represents underlying assets in each of the category. As on June 30, 2022 45.32 per cent of the total underlying assets is through various NBFCs.
*June-22 AUM includes ` 59.34 Crore of personal loans.
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 today took on record the unaudited Financial Results of the company for the quarter ended June 30, 2022.
Performance Highlights
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of ` 343.21 Crore and profit after tax of ` 1.07 Crore for the quarter ended June 30, 2022, from ` 294.70 Crore and ` 0.82 Crore respectively for the quarter ended June 30, 2021.
- A growth of 16.46 per cent in AUM and 29.86 per cent in PAT over the corresponding period of the previous year.
- Capital Adequacy Ratio (including Tier II capital) as of 30th June 2022 stood at 46.43%. The Tier-I capital stood at 33.43 per cent.
- The NPA and Stage 3 classification criteria followed by the Company was in compliance with RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021.
- The portfolio quality remained stable and strong despite of the prolonged ongoing crisis followed by the unprecedented pandemic situation at 0.54 per cent gross stage 3 assets and 0.38% net stage 3 assets of AUM as compared to 0.53 per cent gross stage 3 assets and 0.38 per cent net stage 3 assets of AUM as on March 31, 2022.
- The company continues to carry buffer provision (COVID provision) of ` 3.00 Crore as on 30th June 2022 which is 1.06 per cent of the total on book assets.

Commenting on the performance, Kamlesh Gandhi - Founder, Chairman and Managing Director, MAS Financial said, We have over two and half decade demonstrated that "Consistently and steadily is 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 per cent, the same was very aptly demonstrated in the working of this quarter and are confident for the same going forward. In 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.
Team MAS remains committed to its mission of excellence through endeavours.
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