Q4 2024 MAS Financial Services Ltd Earnings Call Transcript
Key Points
- MAS Financial Services Ltd (BOM:540749) reported a consolidated AUM growth of over 25% and PAT growth of 26.06% for Q1 FY24.
- The company successfully raised INR 500 crores through a QIP, which was oversubscribed multiple times.
- The housing finance segment showed a strong CAGR of 38%, with expectations of 35% growth in the foreseeable future.
- The company maintains a strong capital adequacy ratio of 28.59% with Tier 1 capital at 25.39%.
- MAS Financial Services Ltd plans to double its AUM every three to four years, leveraging its strong fundamentals and diversified product portfolio.
- The company's cost of borrowing remains high at 9.80%, with limited immediate prospects for significant reduction.
- There was a slight decline in the current portfolio quality due to external factors like elections and heatwaves, affecting collection efforts.
- The growth in AUM for Q1 FY24 was relatively muted at 2.5% QoQ, compared to the usual 3.5% to 4% expected growth.
- The company's direct retail distribution is expected to increase, which may lead to higher operational costs.
- There are concerns about the impact of government measures on MSMEs potentially creating a negative credit culture.
Ladies and gentlemen, good day, and welcome to the MAS financial services Q4 FY24 earnings conference call hosted by DAM Capital Advisors. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sanket Chheda from DAM Capital Advisors. Thank you, and over to you, sir.
Thank you, Sejal. Good afternoon, everyone. I, Shreepal Doshi from Equirus Securities, welcome you all to the earnings conference call of MAS Financial Services to discuss the Q1 performance of the company, discuss industry trends and outlook going ahead.
We have the senior management team of MAS Financial Services with us represented by Mr. Kamlesh Gandhi, Chairman and Managing Director; Ms. Darshana Pandya, Director and CEO; Mr. Dhvanil Gandhi, Executive Vice President; and Mr. Ankit Jain, the Chief Financial Officer. I would now like to hand over the call to Mr. Kamlesh for his opening comments, post which we can open the floor for question and answer.
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