Fincare SFBL Annual Report

Fincare Small Finance Bank Limited (Fincare SFBL) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Fincare Small Finance Bank Limited

Fincare Small Finance Bank Limited Balance Sheet (In Rs. Lakhs)

Particulars	31st March 2023	31st March 2022	31st March 2021
Assets
Cash and balances with RBI	65,438	1,11,679	1,03,650
Balances with banks and money at call and short notice	11,781	11,917	11,913
Investments	2,52,284	2,15,163	1,27,936
Advances	8,70,242	7,03,637	5,30,112
Fixed assets	5631	4,234	3,619
Other Assets	41,393	43,960	19,557
Total Assets	12,46,769	10,90,590	7,96,787
Capital and Liabilities
Capital	22,078	22,078	6,361
Employees stock options outstanding	1458	638	100
Reserves and surplus	1,07,835	97,470	95,330
Deposits	8,03,319	6,45,558	5,31,850
Borrowings	2,78,400	2,94,354	1,40,043
Other liabilities and provisions	33,679	30,492	23,103
Total Capital & Liabilities	12,46,769	10,90,590	7,96,787

Fincare Small Finance Bank Limited Profit & Loss Statement (In Rs. Lakhs)

Particulars	2023	2022	2021
Revenue from Operations	1,74,412	1,44,587	1,25,103
EBITDA	78,675	62,216	73,980
EBITDA margins	45.10%	43.03%	59.13%
Finance Cost	65,368	56,978	55,005
Depreciation	2,140	2,012	1,701
Other Income	22,668	20,178	12,568
Exceptional items	-	-	-
Total Tax	803	2,339	5,960
Profit After Tax	10,364	887	11,314
PAT Margin	5.94%	0.61%	9.04%
EPS (Basic & Diluted)	4.68	0.38	5.55

Fincare Small Finance Bank Limited Cash Flow Statement for the last three years (In Rs. Lakhs)

Particulars	Year ended 31, March 2023	Year ended 31, March 2022	Year ended March 31, 2021
A. Cash flows from operating activities:
Net Profit before tax	12,997	575	14,642
Adjustments for :
Depreciation and amortisation expenses	2,140	2,012	1,701
Employee Stock Option Compensation	819	538	100
Amortisation of premium on SLR1 investments in HTM2 category	1,081	1,032	685
(Profit)/loss on disposal of fixed assets	(2)	3	(1)
Loan portfolio written off	55,159	36,951	3,393
Provision for Advances	(16,268)	6,002	18,572
Provision for other contingencies	364	22	(267)
Provision for Investments	451	561	(5)
(Profit) on sale of investment in SLR1 securities	(29)	(540)	(122)
Loss on sale of investment in SLR1 securities	642	284	99
(Profit) on sale of investment in mutual funds	-	(19)	(29)
Operating profit before working capital changes	57,354	47,421	38,768
Adjustments for :
Increase in deposits	157,702	113,708	66,457
Increase/(decrease) in other liabilities	4,926	13,186	4,090
(Increase) in investments (net)	(20,442)	(63,049)	(27,897)
(Increase) in advances	(206,909)	(222,298)	(69,968)
(Increase)/decrease in fixed deposits	2,456	(3,752)	(516)
(Increase) in other assets	5,422	(20,138)	(21)
Cash Flows from/(used in) operating activities	509	(134,922)	10,913
Refund/(Payment) of direct taxes(Including Tax Deducted at Source)	(6,115)	(3,954)	(6,129)
Net cash flows from/(used in) operating activities	(5,606)	(138,876)	4,784
B. Cash flows from / (used in) investing activities:
Purchase of fixed assets	(3,547)	(2,636)	(1,292)
Proceeds from sale of fixed assets	12	7	9
Purchase of investments in mutual funds	-	(5,000)	(18,000)
Purchase of investments in Govt Securities (HTM2)	(24,524)	(34,673)	-
Proceeds from maturity of investments in Govt Securities (HTM2)	5,700	9,158	-
Proceeds from sale of investments in mutual funds	-	5,019	18,029
Proceeds from term money lending	-	-	(3,999)
Net cash flows from/(used in) investing activities	(22,359)	(28,125)	(5,253)
C. Cash flows from / (used in) financing activities:
Proceeds from issue of equity shares	-	16,971	-
Proceeds from borrowing under the LAF3 segment	-	54,000	-
Proceeds from loans availed from banks and financial institutions	100,000	135,804	47,000
Repayment of loans non-convertible debenture	(2,500)	-	-
Repayment of loans availed from banks and financial institutions	(107,855)	(35,493)	(39,073)
Repayment of borrowing under the LAF3 segment	(5,600)	-	(4,700)
Net cash flows from/(used in) financing activities	(15,955)	171,282	3,227
Net increase in cash and cash equivalents during the year ended (A+B+C)	(43,920)	4,281	2,758
Cash and cash equivalents at the beginning of the year	118,564	114,283	1,07,526
Cash and cash equivalents at the end of the year*	74,644	118,564	1,10,284

Summary of cash flows for Fincare Small Finance Bank Limited:

Cash Flows from Operating Activities:

- Year ended March 31, 2023: The bank had a net cash outflow of Rs. 5,606 lakhs from operating activities. This includes adjustments for various items such as depreciation, employee stock option compensation, provisions for advances and contingencies, and profit/loss on the disposal of fixed assets and investments.

- Year ended March 31, 2022: The bank had a significant net cash outflow of Rs. 138,876 lakhs from operating activities. This was mainly due to provisions for advances, an increase in deposits, and a decrease in investments and advances.

Cash Flows from Investing Activities:

- Year ended March 31, 2023: The bank had a net cash outflow of Rs. 22,359 lakhs from investing activities. This includes the purchase and sale of fixed assets, investments in mutual funds and government securities, and proceeds from term money lending.

- Year ended March 31, 2022: The bank had a net cash outflow of Rs. 28,125 lakhs from investing activities. This was primarily due to the purchase and sale of fixed assets, investments in mutual funds and government securities.

Cash Flows from Financing Activities:

- Year ended March 31, 2023: The bank had a net cash outflow of Rs. 15,955 lakhs from financing activities. This includes proceeds from loans availed, repayment of loans, and borrowing under the LAF segment.

- Year ended March 31, 2022: The bank had a significant net cash inflow of Rs. 171,282 lakhs from financing activities. This was mainly due to proceeds from the issue of equity shares and borrowing under the LAF segment.

Net Increase in Cash and Cash Equivalents:

- Year ended March 31, 2023: The bank experienced a net decrease of Rs. 43,920 lakhs in cash and cash equivalents during the year.

- Year ended March 31, 2022: The bank had a net increase of Rs. 4,281 lakhs in cash and cash equivalents during the year.

Fincare Small Finance Bank Share Dividend History

Particulars	2023	2022	2021	2020
Dividend per Share	Nil	Nil	Nil	Nil

Fincare Small Finance Bank Limited Recent Financial Performance

Revenue from Operations of the company increased by 20.62% from Rs. 1,44,587 Lakhs in FY 2022 to Rs. 1,74,412 Lakhs in FY 2023.
Profit after tax of the company increased by 1068% from Rs. 887 Lakhs in FY 2022 to Rs. 10,364 Lakhs in FY 2023.
EBITDA of the company increased by 26.45% from Rs. 62,216 Lakhs in FY 2022 to Rs. 78,675 Lakhs in FY 2023. EBITDA margin inclined from 43.03% to 45.10%.
The book value per share of the company as of 31st March, 2023 is Rs. 58.84.
The return on equity ratio of the company for the year ended 2023 and 2022 is 8.60% and 0.72% respectively.
The Net Interest margin of the company for the year ended 2023 and 2022 is 10.80% and 10.21 % respectively.

Fincare Small Finance Bank Annual Report 2022-23

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Recent News

An IPO for Fincare Small Finance Bank was approved by the Securities and Exchange Board of India (Sebi)

Created at 02 Aug 2021 05:08

Fincare Small Finance Bank files for IPO, plans to raise Rs 1,330 crore