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×

arohan financial services Limited

197.00
-3.90 %
Scrip Name
AROHAN
ISIN No.
INE808K01017
PAN No.
AAECA6121D
Face Value
10
No. of Outstanding Shares
120,177,303
Market Capitalization
2,367.49 Crore

AROHAN FINANCIAL SERVICES LIMITED is an NBFC-MFI (Non-Banking Finance Company) operating mainly in financially under-penetrated and low-income states of India. The company provides financing opportunities to people who are generally neglected by traditional banks and financial institutions. The company mainly targets women having annual household income less than or equal to              Rs. 2,00,000 in urban areas and Rs. 1,25,000 in non-urban areas. On the basis of Gross Loan Portfolio, Arohan Financial Services Limited is the 5th largest NBFC-MFI in India.


Arohan Financial Services Limited classifies its products into two broad categories, Credit products, and Insurance Products. Credit products include income-generating loans and different loan products for various purposes. Insurance products of the company include life insurance and health insurance which are issued and underwritten by different Indian insurance companies. The company is also engaged in providing term loans to microfinance institutions. 


Arohan Financial Services Limited has 737 branches in total spread across 229 Districts in 11 States of India. The company’s MSME lending business is operated from 10 branches in 8 states of India.


INCORPORATION DETAILS


CIN

U74140WB1991PLC053189

Registration Date

27 September 1991

Category/Sub-category of the Company

NBFC-MFI

Address of the Registered office and contact details

PTI Building, 4th Floor,DP-9, Sector-5, Salt Lake, Kolkata-700091

Ph no- 03340156000

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Link Intime India Private Limited, Vaishno Chambers, 5th Floor, Flat Nos. 502 & 503, 6 Brabourne Road, Kolkata- 700001 

T: 033 4004 9728

Email: kolkata@linkintime.co.in


PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

NBFC- MFI

64990

100%


BOARD OF DIRECTORS

Mr. Dinesh Kumar Mittal (Chairman, Non-executive, Independent Director)

Mr. Rajat Mohan Nag (Non-executive, Independent Director)

Mr. Sumantra Banerjee (Non-executive, Independent Director)

Ms. Matangi Gowrishankar (Non-executive, Independent Director)

Mr. Vineet Chandra Rai (Promoter Director)

Mr. Anurag Agrawal (Promoter Director)

Mr. Piyush Goenka (Investor, Nominee Director)

Mr. Wilhelmus Marthinus Maria Van Der Beek (Investor, Nominee Director)

Mr. Shri Ram Meena (Lender, Nominee Director)

Mr. Kasper Svarrer (Investor, Nominee Director)

Mr. Paul Gratien Robine (Investor, Nominee Director)

Mr. Manoj Kumar Narayan Nambiar (Managing Director)


PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

AROHAN FINANCIAL SERVICES LIMITED does not have any subsidiary or associate company.


AROHAN FINANCIAL SERVICES LIMITEDUNLISTED SHARE DETAILS


Total Available Shares:

12,01,77,303

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE808K01017

Lot Size:

100

Current Unlisted Share Price:

Best in Industry Per Equity share


SHAREHOLDING PATTERN

(As on 31-03-2021)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1

Aavishkaar Venture Management Services Private Limited

2,47,63,774

20.61%

2

Intellectual Capital Advisory Services Private Limited

1,64,72,146

13.71%

3

Public Shareholding

7,89,41,383

65.69%

 

Total

12,01,77,303

100.00%


INDUSTRY OUTLOOK


The FY 2020 has been one of the most eventful and challenging years that the financial services industry has experienced. Even more, so is the case with microfinance with its spread of customers residing in areas most vulnerable to macro environment challenges with natural and political unrests alike. The Outbreak of the COVID 19 pandemic across the globe and in India has contributed to a significant decline and volatility in the global and Indian Financial markets and a slowdown in economic activities. Since the duration and magnitude of COVID 19 are still uncertain, it will affect the plans of this industry for FY 2021.


In FY 2020, the microfinance industry grew by 29% year on year from Rs. 1,79,314 Crore to Rs. 2,31,788 Crore serving 10.54 Crore micro-loan accounts through a network of 170 financial institutions, spanning Banks, Small Finance Banks, NBFCs, NBFC-MFIs, etc. Banks contribute 40% of the total Microfinance portfolio, closely followed by NBFC-MFIs with a contribution of 32% and SFBs with a contribution of 17%. In FY 2020, the Eastern and North-Eastern parts of the country contributed to the largest portion of the overall microfinance portfolio of the country at 40% market share, followed by Southern India at 27%.


With technology penetrating the industry, the microfinance industries are expanding their services in innovative ways. The microfinance industry has huge potential in India. At the pan India level, micro-credit reached not more than 20% of total deserving households through a variety of channels including Banks, small finance banks, and microfinance institutes.


The threat of industry includes a high level of competition. As Small finance banks mainly focusing on this segment, and nowadays commercial banks are also showing active interest in the microcredit industry, the competition has become very intense. Moreover, there are lots of players present in the microfinance landscape and mature models of micro lending, with a significant portion of its population in the low-income band, India represents a huge opportunity for the microfinance sector.


According to ICRA, Micro Finance Industry might face asset quality pressure in the near term due to recent lockdowns in 2021. However majority of Micro Finance Institutions will be able to withstand any stress due to their improving collection efficiency and better liquidity management.


PROFIT & LOSS STATEMENT OF AROHAN FINANCIAL SERVICES LIMITED (In Rs. Lakhs)


PARTICULARS

2021

2020

2019

2018

Total Revenue from Operations

98,619.21

92,566.16

65,251.04

32,168.94

EBITDA

22,939.55

54,377.62

43,446.25

16,671.29

EBITDA margin

23.26%

58.74%

66.58%

51.82%

Finance Cost

46,798.67

38,220.08

25,478.45

12,357.44

Depreciation

668.52

669.61

527.25

304.84

Other Income

2,748.31

1,270.61

273.12

532.82

Profit Before Tax

-21,779.33

16,758.54

17,713.67

4,541.83

Total Tax

-5,784.39

4,078.49

4,949.64

1,575.21

Profit After Tax (PAT)

-15,994.94

12,680.05

12,764.03

2,966.62

EPS

-14.56

12.07

14.05

3.35


BALANCE SHEET OF AROHAN FINANCIAL SERVICES LIMITED                     (In Rs. Lakhs)

PARTICULARS

31st March 2021

31st March 2020

31st March 2019

ASSETS




FINANCIAL ASSETS




Cash and Cash Equivalents

1,35,051.17

84,023.90

26,219.33

Trade Receivables

113.67

532.01

566.33

Loans

3,92,590.53

4,34,719.10

3,51,521.64

Investments

0.00

0

3.32

Other financial assets

1,051.46

2,122.62

3,613.17

TOTAL FINANCIAL ASSETS

5,28,806.83

5,21,397.63

3,81,923.79

NON FINANCIAL ASSETS




Tax assets

16,532.70

3,894.06

688.61

Tangible assets

1,009.04

1389.36

1246.73

Intangible assets

438.01

543.62

575.66

Other non-financial assets

1,332.10

813.05

874.82

TOTAL NON FINANCIAL ASSETS

19,311.85

6,640.09

3,385.82

TOTAL ASSETS

5,48,118.68

5,28,037.72

3,85,309.61

EQUITY AND LIABILITIES




EQUITY




Equity Share capital

12,017.73

11,032.10

10,267.39

Other Equity

83,845.8

85,230.94

59,448.21

TOTAL EQUITY

95,863.53

96,263.04

69,715.60

LIABILITIES




FINANCIAL LIABILITIES




Debt securities

1,00,735.92

0

6245.89

Borrowings (Other than debt)

3,19,775.64

3,98,340.94

2,77,587.83

Subordinated liabilities

21,008.31

20,970.29

18,515.22

Other financial liabilities

6,701.39

8,992.46

10,426.52

TOTAL FINANCIAL LIABILITIES

4,48,221.26

4,28,303.69

3,12,775.46

NON FINANCIAL LIABILITIES




Provisions

1,788.51

1,422.95

523.69

Other non-financial liabilities

2,245.38

2,048.04

2,294.86

TOTAL NON FINANCIAL LIABILITIES

4,033.89

3,470.99

2,818.55

TOTAL LIABILITIES

4,52,255.15

4,31,774.68

3,15,594.01

TOTAL EQUITY AND LIABILITIES

5,48,118.68

5,28,037.72

3,85,309.61


DIVIDEND HISTORY

Particulars

2021

2020

2019

2018

Dividend (final + interim) (In Rs.)

Nil

Nil

Nil

Nil

Retained Earnings (Consolidated) (In Rs. Lakhs)

10,831.32

26,950.60

17,237.68

6,790.67


PERFORMANCE OF THE COMPANY

The overall AUM of the company as of 31st March 2021 was Rs. 4,64,800 Lakhs.

In FY 2021, the Company has preferentially allotted 18,50,000 Equity Shares to Arohan ESOP Trust, 55,30,329 Equity Shares to ASK Financial Holding Private Limited, 4,76,190 Equity Shares to Kiran Vyapar Limited, 9,52,380 Equity Shares to Aavishkaar Venture Management Services Private Limited, and 10,47,430 Equity Shares to Mr. Rajesh Sachdeva on a private placement basis.

Interest Income of the company increased by 9.79% from Rs. 86,146.25 lakhs in FY 2020 to Rs. 94,582.42 lakhs in FY 2021.

EBITDA of the company decreased by 57.81% from Rs. 54,377.62 lakhs in FY 2020 to Rs. 22,939.55 lakhs in FY 2021. EBITDA margins of the company fell from 58.74% in FY 2020 to 23.26% in FY 2021.

Profit after Tax of the company slightly turned from a profit of Rs. 12,680.05 lakhs in FY 2020 to a loss of Rs. 15,994.94 lakhs in FY 2021.

The Capital Adequacy Ratio was well within the limit as specified by the RBI and was 24.27% in FY 2021.

Net NPA of the company as of 31st March 2020 was 3.96%.

Debt to Equity ratio of the company as of 31st March 2020 was 4.61.

Arohan Financial Services Limited has not given dividend from the past four years.

The book value of the company as of 31st March 2021 was Rs. 79.76.

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