Mas Financial Services Ltd. share price target

PAT grew 34% YoY to INR407m (in-line) in 1QFY20, driven by healthy AUM growth and stable asset quality, partly offset by margin compression. While operating profit missed our estimate by ~5%, lower credit costs led to inline PAT. Disbursements (standalone) increased 21% YoY to INR12b. AUM grew 4.5% QoQ (+29% YoY) to INR55.8b (in-line). MEL and SME lending continued driving loan growth (+30% YoY). 2W and CV loan book declined by 2-4% QoQ, as disbursements in these segments were calibrated. NIM compression of 50bp YoY (calc.) restricted net income growth to 21%...

4 September 2018 MAS Financial Services (MASFIN) PAT (Ind-AS) rose 80% YoY to INR313m, driven by higher operating profit (+64% YoY) and stable asset quality. With disbursement growth of 24% YoY, AUM rose 30% YoY to INR42.5b. Growth was broad-based across segments (in the range of 20-35% YoY). Margin expanded 100bp YoY, driven by a 25bp YoY decline in CoF. Margin improvement, operating efficiency and controlled credit cost are expected to lead to RoA improvement of 60bp+ and consistent RoE of small base and presence in well-developed states for strong growth, (b) relentless management focus on generating sustainable, high return ratios, (c) healthy capitalization and d) consistent and healthy asset quality, despite catering to the lower end of the socio-economic customer segment. Housing finance) grew 3% QoQ and 30% YoY to INR42.5b, driven by 24% YoY growth in disbursements to INR10.

MAS Financial Services (MASFIN) reported PAT of INR299m (up 2x YoY),driven by higher operating profit (+85% YoY) and stable asset quality. With disbursement growth of 18% YoY, AUM rose 30% YoY to INR41b.Growth was broad-based across segments (in the range of 20-35% YoY). The share of various products in total AUM is as follows: MEL: 63%, SME finance: 25%, 2W finance: 9% and CV finance: 4%. Over the past year, the share of MEL + SME finance has increased by ~500bp

MAS Financial Services (MASFIN) reported PAT of INR253m (+37% YoY), driven by operating profit growth (+55% YoY). Net income grew 50% YoY and 10% QoQ to INR735m, led by a) strong AUM growth of 5% QoQ and 33% YoY to INR36.6b (ex-housing finance portfolio) and b) NIM (calculated) improvement of 50bp/110bp QoQ/YoY to 8.2%, partially helped by capital raise. Micro enterprises lending (MEL), which constitutes ~62% of overall AUM, was the key driver of growth QoQ (+8%). SME growth remained flat QoQ.On a YoY basis, MEL (25%) and SME (62%) loans were the key drivers.

Proceeds will go to the Selling Shareholders. Business Overview: MAS Financial Services Ltd (MAS) is a NBFC with more than two decades of business operations. As of June 30, 2017, they operated across 6 States and the NCT of Delhi. The Company's 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...

MAS Financial Services Limited IPO Issue Open: Oct 06 - Oct 10, 2017, Price Band: Rs. 456 - 459 (A discount of Rs 45 is offered to eligible Employees) Issue Size: *100,22,702 Equity Shares (including *Fresh issue of 50,76,253 Equity Shares + Offer for sale 49,46,449 equity shares including Employee Reservation)

MAS Financial Services (MASFS) is a Gujarat-headquartered NBFC with more than two decades of operations. As of Q1FY18, it operated across six states and the NCT of Delhi. The company's business and financing products are primarily focused on middle and low income customer segments, and include five segments - micro-enterprise loans, SME loans, two-wheeler loans, commercial vehicle loans and housing loans. As of Q1FY18, AUM was at | 3452 crore and has increased at a robust pace of 33.4% CAGR from | 1053 crore as of FY13 to | 3332 crore in...

MAS Financial Services Limited is a Gujarat-based NBFC with more than two decades of business operations and as of June 30, 2017, the company operates across six States and the NCT of Delhi. The company's business and financing products are primarily focused on middle and low income customer segments, and include five principal categories: (i) microenterprise loans; (ii) SME loans; (iii) two-wheeler loans; (iv) Commercial Vehicle loans...

MAS Financial Services Ltd. (MFSL) is a Gujarat-headquartered NBFC with more than two decades of business operations and as of June 30, 2017, it operated across six States and the NCT of Delhi. Its 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. MFSL's shareholders...