SKS Microfinance is currently trading at Rs. 182.75, up by 4.20 points or 2.35 % from its previous closing of Rs. 178.55 on the BSE.
The scrip opened at Rs. 180.40 and has touched a high and low of Rs. 186.15 and Rs. 180.40 respectively. So far 107442 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 209.85 on 24-Dec-2013 and a 52 week low of Rs. 95.60 on 24-May-2013.
Last one week high and low of the scrip stood at Rs. 189.00 and Rs. 169.30 respectively. The current market cap of the company is Rs. 1979.75 crore.
The promoters holding in the company stood at 27.90 % while Institutions and Non-Institutions held 43.38 % and 28.72 % respectively.
SKS Microfinance is planning to raise growth capital of up to Rs 400 crore in FY15 with a maximum dilution of 20% as it sets out to create SKS Microfinance 3.0 to tap into the opportunities presented by the transformation of Indian villages into signposts of future in view of rural buoyancy. The proposed capital raise of up to Rs 400 crore will fund such growth opportunities besides reinforcing the capital position of SKS Microfinance which had a net worth of Rs 432 crore and a capital adequacy of 28.1% (21.6% without taking RBI dispensation on provisioning for the Andhra Pradesh portfolio) as of December 31, 2013. The company’s cash and bank balances stood at Rs 309 crore.
SKS Microfinance 3.0 plans to address the growing demand among its customers for an entire range of products and services including insurance, mobile loans, loans for solar lights, etc. in addition to micro credit, which will remain the company’s core business. Pre- Andhra Pradesh microfinance crisis, the non-Andhra Pradesh portfolio outstanding of the microfinance sector was Rs 28,300 crore, which stood at Rs 18,596 crore as of September 2013 with a huge gap of Rs 9,704 crore. The company plans to increase its non-Andhra Pradesh portfolio outstanding from Rs 2,364 crore as of December 2013 to Rs 3,800 crore - Rs 4,000 crore by the end of FY 15.
The company has also issued a profit guidance of Rs 125 crore for FY15. The profit guidance comes close on the heels of its recent announcement that there could be a positive surprise in its guided net profit of Rs 55-Rs 60 crore for FY14.
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