SKS Microfinance focuses on completion of sixth securitisation
DSIJ Intelligence / 17 Mar 2016
SKS Microfinance completed the sixth securitisation transaction during FY16 for a pool value of Rs 214.61 crore. After the securitisation transaction, the company's total securitisation amount stands at Rs 1781.82 crore during year to date (YTD) of FY16.
SKS Microfinance completed the sixth securitisation transaction during FY16 for a pool value of Rs 214.61 crore. After the securitisation transaction, the company's total securitisation amount stands at Rs 1781.82 crore during year to date (YTD) of FY16.
SKS Microfinance’s entire securitisation pool qualifies for Priority Sector treatment as per the Reserve Bank of India's Priority Sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency. The high rating signifies a high degree of safety regarding timely servicing of financial obligations. These instruments carry a very low credit risk.
On March 2, SKS Microfinance has completed the fifth securitisation transaction during FY16 for a pool value of Rs 216.21 crore. With this transaction, the total sum of securitisation during FY16 (YTD) stands at Rs 1567.21 crore. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India’s Priority Sector lending guidelines.
On financial front, SKS Microfinance’s total income increased by 66.61 per cent to Rs 307 crore in Q3FY16 as compared to same period in previous fiscal year. The company’s EBITDA was boosted by more than double to Rs 202 crore in Q3FY16 on a yearly basis. Its net profit also rose almost double to Rs 79.5 crore in Q3FY16 as compared to same period in previous financial year.
The share price of SKS Microfinance increased by 2.10 per cent on bourses in early trades; and is trading at Rs 526.50.
SKS Microfinance is engaged primarily in providing microfinance services to women in the rural areas of India who are enrolled as members and organised as Joint Liability Groups (JLGs). The company's operations are spread across 15 states. Its methodology involves lending to individual women. SKS Microfinance’s products are categorised into proprietary products and distributor products which includes: Income Generation Loans (IGL) - Aarambh; Mid-Term Loan (MTL); Long Term Loan (LTL)- Vriddhi ; Solar Loan; Mobile Loans; Housing Loans; Swarna - pushpam Gold Loan; and Life Insurance.
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