*MAS Financial Services - S* | *CMP* Rs. 749 | *M Cap* Rs. 4094 Cr | *52 W H/L* 1111/716
(Nirmal Bang Retail Research)
*Result is ok* Slight deterioration in asset quality (although this trend is visible in MFI portfolios of banks as well)
NII came at Rs. 59 Cr vs YoY Rs. 51 Cr, QoQ Rs. 58 Cr
Non-Interest Income came at Rs. 22 Cr vs YoY Rs. 32 Cr, QoQ Rs. 20 Cr
PBP came at Rs. 60 Cr vs YoY Rs. 70 Cr, QoQ Rs. 64 Cr
Provision came at Rs. 8 Cr vs YoY Rs. 25 Cr, QoQ Rs. 14 Cr
PAT came at Rs. 38 Cr vs YoY Rs. 34 Cr, QoQ Rs. 37 Cr
AUM came at Rs. 5485 Cr vs YoY Rs. 5301 Cr, QoQ Rs. 5162 Cr
The collection efficiency for the Sept qtr was around 97% vs 93% in June qtr.
Gross NPA (%) came at 2.3% vs QoQ 2.21%
Net NPA (%) came at 1.8% vs QoQ 1.74%
Restructured book is at Rs. 29.6 Cr (0.54%) from nil QoQ.
COVID provision stands at Rs. 49 Cr i.e. 1.1% of on book assets of Rs. 4416 Cr.
Quarter EPS is Rs. 7
Share is trading at P/E of 19.8x FY23E EPS & 3.3x trailing P/BV