SKS Microfinance Limited has announced a 41% year-on-year increase in the non-Andhra Pradesh portfolio to Rs. 2,837crore in Q4
FY14 from Rs. 2,016 crore in Q4-FY13(Rs. 2,364 crore in Q3-FY14). SKS Microfinance Limited also registered a 27% increase in PAT to Rs. 27.1crore in Q4-FY14 from Rs.21.4crore in Q3-FY14. This is the Company’s sixth consecutive quarter of profit post its turnaround in Q3-FY13. Loan disbursements grew to Rs.1,580 crore in Q4-FY14 from Rs. 1,399 crore in Q3-FY14(Rs.1,295 crore in Q4-FY13).
The Company had incremental draw-downs ofRs.1,713 crore in Q4-FY14. SKS Microfinance Limited had a net worth of Rs.459 crore and capital adequacy of 27.2%(20.7% without taking RBI dispensation on provision for the Andhra Pradesh portfolio) as of March 31, 2014. Cash and bank balances stood at Rs. 671 crore.
Thankfully, the stock has corrected from its recent highs and is stabilizing at around 230rs levels. If one wishes to accumulate, these are good levels and one should keep on adding it on declines. The growth is expected to continue at the same pace in this FY also.