Arman Financial Services Ltd share Price Today

Non-banking Financial company Arman Financial Services announced Q1FY24 results:

• Company recorded the highest ever AUM of Rs 2,143 crore registering a healthy growth of 54.5% YoY and 10.3% QoQ
• Company experienced strong demand across all business segments, attributed to a robust credit need in rural India, combined with our technology-driven processes and rigorous underwriting practices.
• Consolidated disbursements for the quarter stood at Rs 537 crore as compared to Rs 380 crore for Q1FY23 increasing by 41.6% YoY
• Net Total Income for the Q1FY24 stood at Rs 86 crore registering a strong growth of 70.0% YoY
• PPoP grew by a healthy 98.8% over Q1FY23 to Rs 63 crore
• Profit After Tax stood at Rs 40 crore registering a robust growth of 154.2% YoY
• Shareholders' Equity stood at Rs 406 crore as on June 30, 2023
• Total borrowings stood at Rs 2,161 crore. (Including the debt component of OCRPS and CCDs as per IND AS Rs 48 crore)
• Of the total borrowings, 33.2% is through Banks, 19.3% is through NBFCs, 13.4% is through debt and NCDs, 11.3% is through PTC, 19.2% is through direct assignments (off-balance-sheet liabilities) and the rest is borrowed from DFIs (i.e., NABARD & SIDBI) and others.
• The company has successfully been diversifying its funding sources. It raised Rs 45 crore through Market linked debentures (MLDs) last year and raised another Rs 49 crore through listed nonconvertible debentures (NCDs) in Q1 FY24.
• As on June 30, 2023, the Company has a healthy liquidity position with Rs 294 crore in cash/bank balance, liquid investments, and undrawn CC limits.
• Collection efficiency stood at 98.2% for Q1FY24
• Segment-wise collection efficiency in June 2023 stood at:
  • Microfinance segment – 98.3%
  • MSME segment – 98.4%
  • 2W segment – 96.6%
• GNPA stood at 2.49%; NNPA stood at 0.14%
• Cumulative Provisions stood at Rs 72 crore as on June 30, 2023 (covering 4.1% on-book POS), of this, provisions for Arman standalone stood at Rs 15.5 crore, and for Namra stood at Rs 56.5 crore
• The additional management overlay, over the regular ECL provisions is included in the Rs 72 crore, of which Rs 7.7 crore is for Arman and Rs 19.9 crore is for Namra.

Result PDF