Asirvad Micro Finance Limited (Asirvad) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Asirvad Micro Finance Limited

Asirvad Micro Finance Limited Standalone Balance Sheet (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Financial Assets
Cash and cash equivalents	25,627.98	96,254.64
Bank balance other than those disclosed above	39,607.62	37,196.96
Loans	7,01,609.22	10,29,534.74
Loans given to staff	-	153.07
Investments	40,877.14	38,326.13
Derivative financial instruments	1,118.24	1,356.72
Other financial assets	7,864.63	13,826.85
Non- Financial Assets
Current tax assets (net)	8,194.08	2,002.91
Deferred tax assets (net)	27,633.81	10,557.81
Investment Property	8.64	8.64
Property, plant and equipment	8,601.71	7,670.26
Right of use asset	10,649.89	10,858.93
Other intangible assets	3,062.81	1,918.31
Other Non-Financial assets	1,938.66	1,381.94
Total Assets	8,76,794.43	12,51,047.91
Financial Liabilities
Trade Payables
Total outstanding dues of creditors other than micro enterprises and small enterprises	2,813.10	2,121.53
Debt Securities	2,486.87	61,989.07
Borrowings (other than debt securities)	6,26,374.72	8,73,570.67
Subordinated liabilities	64,959.13	65,130.40
Other financial liabilities	26,502.02	30,677.78
Non-Financial liabilities
Provisions	1,164.87	1,179.90
Other Non-Financial Liabilities	1,017.93	1,468.62
Equity
Equity Share capital	20,028.34	20,028.34
Other Equity	1,31,447.45	1,94,881.60
Total Equity and Liabilities	8,76,794.43	12,51,047.91

Asirvad Micro Finance Limited Standalone Profit and Loss Account (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Revenue from Operation
Interest Income	2,59,886.89	2,51,408.75
Net Gain on derecognition of financial instruments under amortised cost category	9,140.47	14,250.01
Dividend income and gain on sale of mutual fund	12.50	-
Other Operating Income	1,502.94	2,472.68
Other Income	2,896.18	5,062.75
Total Income	2,73,438.98	2,73,194.19
Expenses
Finance Cost	1,03,426.01	94,741.32
Impairment of financial instruments	1,69,678.42	46,372.95
Employee Benefit Expense	56,280.29	48,838.71
Depreciation and Amortisation Expense	5,720.06	5,076.24
Other Expenses	19,434.74	16,001.49
Total Expense	3,54,539.52	2,11,030.71
Profit/Loss before tax	(81,100.54)	62,163.48
Current Tax	-	19,448.50
Deferred tax charge/(credit)	(17,228.85)	(3,287.96)
Tax relating to earlier years	-	172.57
Net Profit/ Loss for the period	(63,871.69)	45,830.11
Other comprehensive income
Items that will not be reclassified to profit or loss:
Re-measurement gains and (losses) on defined benefit obligations (net)	(11.84)	(247.61)
Fair value changes in equity instrument	-	(0.10)
Income tax relating to items that will not be reclassified to profit or loss	2.98	62.35
Items that will be reclassified to profit or loss:
Fair value changes on derivatives designated as cash flow hedge (net)	(158.94)	(411.51)
Fair value changes on Investment held as FVOCI	761.18	241.86
Income tax relating to items that will be reclassified to profit or loss	(151.57)	42.70
Other comprehensive Income/(Loss) for the year	441.81	(312.31)
Total comprehensive Income/(Loss) for the year	(63,429.88)	45,518.06
Earnings per Equity Share
Basic	-31.89	23.24
Diluted	-31.89	23.24

Asirvad Micro Finance Limited Standalone Cash flow statement (Rs. in Lakhs)

Particulars	31-03-2025	31-03-2024
Cash Flow from Operating Activities
Net Profit before Tax	(81,100.54)	62,163.48
Adjustments for:
Depreciation and Amortisation expenses	5,720.06	5,076.24
Impairment of financial instruments Amortisation of assets & Loss on derecognition of financial assets	1,69,678.42	46,372.95
Provision for insurance claim receivable	(229.93)	(82.67)
Loss/(Profit) on sale of fixed assets (net)	(0.20)	0.34
Dividend income	(12.50)	-
Finance cost	1,03,426.01	94,741.32
Interest on deposits	(9,411.16)	(5,838.77)
Provision for Resigned staff	4,626.35	-
Share based payments to employees	-	0.64
Operating Profit before Working Capital Charges	1,92,696.51	2,02,433.53
Working/ Operating Capital Changes
Loans	1,65,167.08	(2,06,513.79)
Loans given to staff	153.07	(132.95)
Other financial assets	1,565.80	(1,866.52)
Other non-financial assets	(556.72)	(103.76)
Trade payables	691.57	334.71
Other financial liabilities	(10,451.17)	4,675.21
Other non-financial liabilities	(450.69)	(431.55)
Other provisions	(26.87)	(115.71)
Cash Generated from Operations	3,48,788.58	(1,720.83)
Net Income tax paid	(6,186.91)	(18,172.06)
Net Cash Flow (Used in)/ Generated from Operating Activates	3,42,601.67	(19,892.89)
Cash Flow from Investing Activities
Proceeds from sale of property, plant and equipment	1,008.22	5.70
Purchase of property, plant and equipment	(3,091.20)	(2,311.06)
Purchase of other intangible assets	(2,415.45)	(1,777.72)
Net movement in bank deposits	(1,763.21)	(3,518.08)
Dividend received	12.50	-
Investments	(8,709.81)	(20,476.10)
Interest income on deposits	8,763.71	5,838.66
Net Cash Flow (Used in)/ Generated from Investing Activities	(6,195.24)	(22,238.60)
Cash flow from financing activities
Increase in Share Capital	-	412.11
Increase in Security Premium	-	14,587.89
Proceeds from long term borrowings - term loans	4,11,887.81	6,13,687.50
Repayment of long-term borrowings - term loans	(6,41,143.53)	(4,09,528.75)
Interest paid on term loans	(83,816.96)	(67,891.73)
Proceeds from long term borrowings - debentures	-	27,500.00
Repayment of long-term borrowings - debentures	(55,716.67)	(54,468.50)
Interest paid on debentures	(15,047.18)	(17,250.24)
Interest paid on securitisation	(1,755.14)	(3,931.84)
Repayment of Over Draft	-	(10,018.62)
Interest paid on OD	(1.81)	(127.20)
Repayment of securitisation borrowings	(18,300.17)	(6,673.08)
Proceeds from short term borrowings - commercial paper	-	8,355.00
Repayment of short-term borrowings - commercial paper	-	(8,355.00)
Interest paid on Commercial Borrowing	-	(145.01)
Processing and arranger Fee paid	(335.92)	(773.88)
Other interest and charges paid	(2,803.52)	(1,984.67)
Net cash flow generated/ (used in) from financing activities	(4,07,033.09)	83,393.98
Net Increase /(Decrease) In Cash and Cash Equivalents	(70,626.66)	41,262.49
Cash & Cash Equivalents at the Beginning of the Year	96,254.64	54,992.15
Cash & Cash Equivalents at the End of the Year	25,627.98	96,254.64

Summary of the Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities

In FY 2024-25, the company reported a net loss before tax of ₹81,100.54 lakhs, compared to a profit of ₹62,163.48 lakhs in the previous year. Despite this, the adjustments for non-cash items like depreciation (₹5,720.06 lakhs), impairment of financial instruments (₹1,69,678.42 lakhs), and finance costs (₹1,03,426.01 lakhs) significantly boosted operating cash flows. The impact of working capital changes was positive, primarily due to an increase in loans given to customers (₹1,65,167.08 lakhs) and slight increases/decreases in other financial and non-financial assets and liabilities. Overall, the company generated ₹3,42,601.67 lakhs in cash from operations, which is a sharp turnaround from the cash outflow of ₹19,892.89 lakhs in FY 2023-24. This indicates that despite the accounting loss, operational activities are generating substantial liquidity, driven mainly by adjustments and working capital movements.

Cash Flow from Investing Activities

Investing activities in FY 2024-25 show a net outflow of ₹6,195.24 lakhs, slightly lower than the ₹22,238.60 lakhs outflow in the previous year. The company invested in property, plant, and equipment (₹3,091.20 lakhs) and other intangible assets (₹2,415.45 lakhs), while also making significant investments in financial instruments (₹8,709.81 lakhs). These outflows were partly offset by proceeds from sales of assets (₹1,008.22 lakhs) and interest/dividends received on deposits. The trend indicates continued investment in growth and operational infrastructure, but the cash outflow is manageable compared to the operating cash inflow.

Cash Flow from Financing Activities

The financing activities show a net cash outflow of ₹4,07,033.09 lakhs in FY 2024-25, compared to a net inflow of ₹83,393.98 lakhs in FY 2023-24. This is mainly due to repayment of long-term borrowings (term loans ₹6,41,143.53 lakhs and debentures ₹55,716.67 lakhs), coupled with interest payments on term loans, debentures, and other borrowings totaling significant amounts. While the company did raise some term loans of ₹4,11,887.81 lakhs, it was insufficient to cover the repayments and interest obligations. This reflects the company’s high leverage and reliance on external borrowings, which creates a significant financing outflow despite strong operational cash generation.

Net Increase/(Decrease) in Cash and Cash Equivalents

Due to the combination of strong operating inflows (+₹3,42,601.67 lakhs), moderate investing outflows (-₹6,195.24 lakhs), and large financing outflows (-₹4,07,033.09 lakhs), the company experienced a net decrease in cash of ₹70,626.66 lakhs for the year. The closing cash balance stands at ₹25,627.98 lakhs, down from ₹96,254.64 lakhs in FY 2023-24. This indicates that while operations are cash-positive, the heavy debt repayments and interest burden significantly reduce liquidity.