Fusion Micro Finance Ltd

Fusion Micro Finance Ltd

₹ 468 -1.90%
19 Apr - close price
About

Incorporated in 1994, Fusion Micro Finance Ltd is engaged in providing financial services to women entrepreneurs belonging to the economically and socially deprived section of society[1]

Key Points

Leading NBFC (MFI) in India[1][2] Fusion Micro Finance Ltd is one of the youngest companies among the top 10 NBFC-MFIs in India in terms of AUM as of June 30, 2022, and has the fastest gross loan portfolio CAGR of 37% between FY20-22 among listed NBFC-MFIs in India. Co. was incorporated with the core idea of creating opportunities at the bottom of the pyramid. It provides financial services to unserved and underserved women in rural and peri-rural areas across India.

  • Market Cap 4,705 Cr.
  • Current Price 468
  • High / Low 691 / 396
  • Stock P/E 9.66
  • Book Value 256
  • Dividend Yield 0.00 %
  • ROCE 14.2 %
  • ROE 21.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 63.9% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 10.4% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Figures in Rs. Crores

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Revenue 282 350 343 440 459 501 531 547 593
Interest 118 137 143 157 168 174 183 191 201
177 219 116 167 163 192 208 213 243
Financing Profit -13 -5 84 115 128 134 140 143 149
Financing Margin % -5% -1% 24% 26% 28% 27% 26% 26% 25%
15 22 18 13 8 20 22 25 20
Depreciation 1 2 1 2 2 2 2 2 2
Profit before tax 0 16 100 126 134 152 159 166 166
Tax % -1,760% 16% 25% 25% 23% 25% 24% 24% 24%
1 13 75 95 102 115 120 126 126
EPS in Rs 0.11 1.57 8.91 11.27 10.18 11.38 11.97 12.49 12.57
Gross NPA % 3.83% 3.69% 3.20% 2.68% 3.04%
Net NPA % 1.12% 0.78% 0.65% 0.77%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 266 494 720 856 1,151 1,742 2,172
Interest 137 254 338 375 496 643 750
182 172 290 437 676 638 856
Financing Profit -53 68 93 43 -20 461 566
Financing Margin % -20% 14% 13% 5% -2% 26% 26%
1 3 10 17 50 58 86
Depreciation 2 2 3 4 5 7 9
Profit before tax -54 68 100 57 24 512 643
Tax % 26% 26% 30% 23% 11% 24%
-39 51 70 44 22 387 487
EPS in Rs -9.15 7.71 8.25 5.21 2.58 38.47 48.41
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 46%
3 Years: 34%
TTM: 36%
Compounded Profit Growth
10 Years: %
5 Years: 64%
3 Years: 77%
TTM: 70%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 10%
Last Year: 21%

Balance Sheet

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 41 62 79 79 83 100 100
Reserves 214 564 1,120 1,167 1,255 2,222 2,476
Preference Capital 3 0 0 0 0 0
1,605 2,929 2,974 4,432 5,776 6,778 7,528
109 56 67 159 177 263 327
Total Liabilities 1,968 3,611 4,240 5,838 7,290 9,364 10,432
5 6 6 18 19 21 24
CWIP 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 2
1,963 3,604 4,233 5,820 7,271 9,342 10,406
Total Assets 1,968 3,611 4,240 5,838 7,290 9,364 10,432

Cash Flows

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-597 -1,418 -749 -793 -1,641 -1,663
184 15 20 10 18 18
741 1,631 545 1,459 1,418 1,584
Net Cash Flow 329 229 -184 676 -204 -61

Ratios

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 12% 8% 4% 2% 21%

Shareholding Pattern

Numbers in percentages

11 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
68.18% 68.18% 68.18% 67.92% 57.70% 57.71%
5.32% 5.98% 5.43% 5.15% 6.74% 5.97%
12.77% 13.56% 16.51% 15.37% 22.81% 23.28%
13.39% 12.00% 9.62% 11.02% 12.26% 12.65%
0.34% 0.28% 0.25% 0.54% 0.48% 0.40%
No. of Shareholders 45,13135,52242,47859,39456,82456,759

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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