Hot Pursuit     10-May-23
Five-Star Business Q4 PAT jumps 43% YoY to Rs 169 cr
Five-Star Business Finance reported 43.3% jump in consolidated net profit of Rs 168.88 crore on 34.3% rise in total income to Rs 439.29 crore in Q4 FY23 over Q4 FY22.
Net Interest Income (NII) for the period under review was Rs 361.9 crore, up 37% YoY. Net Interest Margin was 18.47% in Q4 FY23 as compared with 16.81% in Q4 FY22.

Loan losses & Provisions amounted to Rs 74 crore in Q4 FY23 as against Rs 83 crore in Q4 FY22.

Profit before tax in Q4 FY23 stood at Rs 224.2 crore, up by 41% from Rs 201.5 crore in Q4 FY22.

Overall Stage 2 assets stood at Rs 632.5 crore (9.15%) as of 31 March 2023 as against Rs 797.1 crore (15.73%) as of 31 March 2022 and Rs 664.8 crore (10.65%) as of 31 December 2022.

Concurrently, stage-3 assets amounted to Rs 93.9 crore (1.36%) as of 31 March 2023 as against Rs 53 crore (1.05%) as of 31 March 2022 and Rs 90.7 crore (1.45%) as of 31 December 2022.

The Provision coverage on Stage-3 assets stood at 49.33 % and the provision coverage on the overall portfolio stood at 1.61%.

The company recorded net QoQ AUM growth of Rs 672.4 crore in Q4FY23 as against Rs 299.5 crore in Q4 FY22. AUM was up 37% YoY at Rs 6,914.8 crore as against Rs 5,067.1 crore as of 31March 2023.

During the quarter disbursements was at Rs 1,110 crore as against Rs 643.8 crore during Q4FY22.

Active loans was at almost 0.29 million as against 0.22 million as of 31 March 2022. The company continued to have a robust collection efficiency of 100.5% during the quarter.

On full year basis, the company's net profit jumped 33.1% to Rs 603.50 on 21.7% rise in total income to Rs 1,528.93 crore in FY23 over FY22.

During FY2023, the company has raised incremental debt of Rs 3,103.6 crore, at a weighted average rate of interest of 8.95% (all inclusive cost of 9.21% on fresh borrowings raised during this period). Liquidity buffer as of 31 December 2022 stood at about Rs 1,637.4 crore.

Capital adequacy remained high at 67.17% as on 31 March 2023.

Lakshmipathy Deenadayalan, chairman & managing director, Five-Star Business Finance, said, "We added 73 branches during FY2023 resulting in a strong branch network of 373 branches to deliver quality service to our customers. We had a collection efficiency of 100.5% for the quarter and the strong growth in disbursements and collection efficiencies pave the way for a strong trajectory across growth, quality and profitability.

During the year, the company has been assigned a rating of AA- by ICRA and India Ratings, which is also a testimony to the company's strength."

Five-Star Business Finance is a non-banking finance company. It has a network of 373 branches catering to around 294,000 active live accounts in Tamil Nadu (including the Union Territory of Puducherry), Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Maharashtra, Uttar Pradesh and Chattisgarh. The company primarily offers small loans for business purposes, asset creation and other economic purposes to micro-entrepreneurs and self employed individuals after due underwriting of their cashflows and backed by the collateral of their house property.

The scrip was down 0.30% to Rs 537.85 on the BSE.

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