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Arman Financial Services Ltd reports consolidated Q3 PAT of Rs. 5.83 crores

Posted On: 2019-02-10 10:46:22

ARMAN FINANCIAL SERVICES LTD. has reported financial results for the period ended December 31, 2018.

The company has reported net sales of Rs.38.04 crores during the period ended December 31, 2018 as compared to Rs.32.94 crores during the period ended September 30, 2018.

The company has posted net profit of Rs.5.83 crores for the period ended December 31, 2018 as against Rs.5.40 crores for the period ended September 30, 2018.

The company has reported EPS of Rs.7.63 for the period ended December 31, 2018 as compared to Rs.7.16 for the period ended September 30, 2018.

FinancialsQ3 FY18-19Q2 FY18-19% Change
Total Income₹ 38.04 crs₹ 32.94 crsUp Tick 15.48%
Net Profit₹ 5.83 crs₹ 5.40 crsUp Tick 7.96%
EPS₹ 7.63₹ 7.16Up Tick 6.56%


The company has reported net sales of Rs.38.04 crores during the period ended December 31, 2018 as compared to Rs.22.53 crores during the period ended December 31, 2017.

The company has posted net profit of Rs.5.83 crores for the period ended December 31, 2018 as against Rs.3.13 crores for the period ended December 31, 2017.

The company has reported EPS of Rs.7.63 for the period ended December 31, 2018 as compared to Rs.4.53 for the period ended December 31, 2017.

FinancialsQ3 FY18-19Q3 FY17-18% Change
Total Income₹ 38.04 crs₹ 22.53 crsUp Tick 68.84%
Net Profit₹ 5.83 crs₹ 3.13 crsUp Tick 86.26%
EPS₹ 7.63₹ 4.53Up Tick 68.43%


The company has reported net sales of Rs.100.14 crores during the 9 months period ended December 31, 2018 as compared to Rs.54.22 crores during the 9 months period ended December 31, 2017.

The company has posted net profit of Rs.15.84 crores for the 9 months period ended December 31, 2018 as against Rs.4.87 crores for the 9 months period ended December 31, 2017.

The company has reported EPS of Rs.20.92 for the 9 months period ended December 31, 2018 as compared to Rs.7.03 for the 9 months period ended December 31, 2017.
Financials9 months FY18-199 months FY17-18% Change
Total Income₹ 100.14 crs₹ 54.22 crsUp Tick 84.69%
Net Profit₹ 15.84 crs₹ 4.87 crsUp Tick 225.26%
EPS₹ 20.92₹7.03Up Tick 197.58%

Commenting on the Company's performance for Q3 FY2018-19, Mr. Jayendra Patel, Vice Chairman & Managing Director, Arman Financial Services said, "The total AUM of the company has grown from Rs 362.46 Cr on 31 Dec 2017 to Rs.585.96 Cr as on 31 Dec 2018, a growth of 61.66%. The growth on a QoQ basis is 12.90 % from Rs. 519.07 Cr as on 30 September 2018 to Rs. 585.96 Cr on 31 December 2018. We are pleased to announce that CARE Ratings have upgraded the ratings for both Arman & Namra from BBB to BBB+. In addition, the MFI grading for Namra has been upgraded from MFI-2 to MFI-2+, which is one step below the highest possible grading.

The performance of the company has been stable inspite of liquidity challenge being faced by NBFCs in the previous quarter. While there has been a significant improvement with liquidity in January, including some improvement in the short-term debt instrument market, there continues to be significant negative publicity surrounding NBFCs, and an overall increase in interest rates.

It continues to remain challenging for the sector to borrow from banks and other financial institutions. However, we have been quite successful in leveraging our existing debt relationships, with disbursements totaling Rs.90 Cr in the past quarter, including private and PSU banks. Borrowing costs have increased due to rate resets and new borrowings coming in at higher costs. Very recently, we have achieved a significant milestone by closing a refinancing deal with NABARD, and also finished a multioriginator securitization transaction with Kotak-Mahindra bank. At the end of Q2, we closed a 2nd foreign NCD transaction with Symbiotics. In short, we are constantly diversifying our debt portfolio, and we hope that will help us avoiding liquidity shortages in the future, and allow us to reduce our overall cost of borrowings.

Operationally we have done well and have been able to grow and maintain our profitability despite significant headwinds. However, due to the unpredictability of future fund availability, the company took a conservative view during Q3 and reduced planned branch openings in the Microfinance and MSME segments. This resulted in a very slight variation in our year-end projections for AUM growth, although our profitability projections remain better than anticipated. The branches openings that were skipped in Q3 are being opened in Q4.

We are in the process of implementing a new ERP software for Microfinance. This will substantially increase our collection efficiency and generate better MIS for the management team. With an integrated mobile interface, field staff will now manage going completely paperless (except where a paper documents are statutorily required) for both loan application and loan servicing. We have already implemented the pilot in 25 branches and plan to cover rest of the branches by the fourth quarter end."


Source: Equity Bulls

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