SKS Microfinance gains on getting nod for its proposal to apply for a Small Finance Bank

Bharat Financial Inclusion Ltd. - (Amalgamated) | Finance - NBFC | BFSI | BSE: 533228 | NSE: BHARATFIN

02 Feb 2015 Evaluate

SKS Microfinance is currently trading at Rs. 439.00, up by 2.85 points or 0.65 % from its previous closing of Rs. 436.15 on the BSE.

The scrip opened at Rs. 437.20 and has touched a high and low of Rs. 444.50 and Rs. 435.45 respectively. So far 149921 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 475.75 on 19-Jan-2015 and a 52 week low of Rs. 169.30 on 04-Feb-2014.

Last one week high and low of the scrip stood at Rs. 457.20 and Rs. 423.20 respectively. The current market cap of the company is Rs. 5564.40 crore.

The promoters holding in the company stood at 9.27 % while Institutions and Non-Institutions held 63.26 % and 27.47 % respectively.

The Board of Directors of SKS Microfinance has approved its proposal for making an application to the Reserve Bank of India (RBI) for grant of a Small Finance Bank licence.

Meanwhile, the company’s portfolio excluding the states of Andhra Pradesh and Telangana registered a 35% year-on-year increase to Rs 3,195 crore from Rs 2,364 crore in Q3-FY14 (5% quarter-on-quarter growth -- Rs. 3,043 crore in Q2-FY15).

In Q3-FY15, loan disbursements stood at Rs 1,544 crore as against Rs 1,693 crore in Q2-FY15 (Rs 1,399 crore in Q3-FY14) while net interest income was at Rs 96 crore (Rs 110 crore in Q2-FY15, Rs 68 crore in Q3-FY14). The Company’s PAT stood at Rs 41.1 crore in Q3-FY15 (Rs 21.4 crore in Q3-FY14, Rs 56.8 crore in Q2-FY15).

The company had incremental draw-downs of Rs. 931 crore in Q3-FY15 (Rs 1,100 crore Q2 FY15) besides issuing Commercial Paper of Rs. 175 crore and completing securitization transactions of Rs. 391 crore rated as A1+ and AA (SO). As of December 31, 2014, SKS Microfinance had a net worth of Rs 998 crore and capital adequacy of 34.6% (without the Reserve Bank of India dispensation on the Andhra Pradesh and Telangana provisioning). Cash and cash equivalents stood at Rs 746 crore.

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Peers

Company Name	CMP
Bajaj Finance	955.05
Shriram Finance	1007.95
Aditya Birla Capital	363.05
Chola Invest & Fin.	1676.05
Tata Capital	321.70
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