MAS Financial Services Q2FY23 PAT up 28.04 per cent to Rs 49.07 Cr., Y-o-Y

Ahmedabad (Gujarat) [India], November 3 (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 September 30, 2022.
The consistent financial performance during all the past turbulent period is a testimony of the strong fundamentals of the company; which is being followed over two decades. We witnessed healthy growth in business activities across the segment which we serve during the quarter. The same was reflected in disbursement which stood at `2261.81 Crore during the quarter that ended 30th September 2022 as compared to `1476.70 Crore during the corresponding period.
Performance Highlights
MAS Financial Services Limited reports Assets under Management (AUM) of `7138.11 Crore and profit after tax of '49.07 Crore for the quarter ended 30th September 2022 from `5485.18 Crore and `38.32 Crore respectively for the quarter ended 30th September 2021. The AUM as on 30th June 2022 was `6683.92 Crore.
- A Growth of 30.13 per cent in AUM and 28.04 per cent in PAT over the corresponding period of the previous year.
- Capital Adequacy Ratio (including Tier II capital) as of 30th September, 2022 stood at 24.14 per cent. The Tier-I capital stood at 21.24 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 2.26 per cent gross stage 3 assets and 1.60 per cent net stage 3 assets of AUM as compared to 2.27 per cent gross stage 3 assets and 1.63 per cent net stage 3 assets of AUM as on 30th June 2022.
- The company continues to carry buffer provision (COVID provision) as of 30th September 2022 of 0.37 per cent of the total on-book assets.


*Represents underlying assets in each of the category. As on 30th September, 2022 40.96 per cent of the total underlying assets is through various NBFCs.
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 quarter ended 30th September, 2022.
Performance Highlights
MAS Rural Housing and Mortgage Finance Limited reports Assets under Management (AUM) of ` 382.46 Crore and profit after tax of `1.68 Crore for the quarter ended 30th September 2022 from `300.26 Crore and `1.48 Crore respectively for quarter ended 30th September 2021.
- A growth of 27.38 per cent in AUM and 13.47 per cent in PAT over the corresponding period of the previous year.
- Capital Adequacy Ratio (including Tier II capital) as of 30th September 2022 stood at 44.38%. The Tier-I capital stood at 32.30 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 0.59 per cent gross stage 3 assets and 0.42 per cent net stage 3 assets of AUM as compared to 0.54 per cent gross stage 3 assets and 0.38 per cent net stage 3 assets of AUM as on 30th June 2022.
- The company continues to carry buffer provision (COVID provision) as on 30th September 2022 of 0.98 per cent of the total on book assets.

Commenting on the performance, Kamlesh Gandhi - Founder, Chairman & Managing Director, MAS Financial said, "We have over two & half decade demonstrated that "CONSISTENTLY AND STEADILY IS THE FASTEST WAY TO REACH WHERE YOU WANT TO."
"Our conviction to grow at a consistent CAGR of 20-25 per cent is based on the strong enablers' namely high capital adequacy, excellent asset quality accompanied by strong liability management and the niche expertise to serve the huge MSME market. 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 endeavors.
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