The business continuity planning program of the Company was used effectively to manage its operations through this crisis.
![aptus financial reviews aptus financial reviews](https://www.americanbankingnews.com/wp-content/timthumb/timthumb.php?src=https://www.marketbeat.com/logos/copart-inc-logo.png)
The primary focus of your Company was to ensure safety and well being of all its employees. To contain the spread of Covid-19 virus, Government enforced lock down of all economic activities in the months of April to June 2020.
![aptus financial reviews aptus financial reviews](http://www.aptusbenefits.ca/wp-content/uploads/2018/01/MeetTheTeam.jpg)
![aptus financial reviews aptus financial reviews](https://ipohub.in/wp-content/uploads/2021/08/WhatsApp-Image-2021-08-04-at-1.42.48-PM-2.jpeg)
In order to conserve resources for growth, your Directors do not recommend any dividend for the financial year 2020-21.Ħ. Accordingly, your Company has transferred ''43.55 crores to special reserve in accordance with Section 29C(i) of National Housing Bank Act, 1987 read along with Section 36(1)(viii) of the Income Tax Act, 1961. As on March 31, 2020, 54% of borrowings were from banks and 23% were from NHB and the balance 23% were from debt capital market, majority from DFIs like IFC and mutual funds.Ĭapital Adequacy Ratio of Aptus stood at 73.63% as on March 31, 2021, as against the minimum requirement of 14% stipulated by regulators.ĭuring the year 2020 - 21, the credit rating of your company by both ICRA and CARE was maintained at A (Stable).Īs per Section 29C (i) of National Housing Bank Act, 1987, your Company is required to transfer atleast 20% of its net profit every year to a reserve before any dividend is declared. During the year, the funding from NHB was increased by ''332 crores making the borrowings from NHB 23% of total borrowings as on Maas compared with 13% as on March 31, 2020.Ĭurrently funding mix of Aptus comprises of Loans from Banks, NHB, Multilateral funding agencies like IFC and Mutual Funds. All these loans were long term loans with tenor of 6 to 7 years. During the year 2020 - 21, resources were mobilized in the form of Loans to the extent of ''952 crores which was raised from various banks and NHB. The positive attributes of Aptus in terms of quality loan book, networth, consistent profitability etc., enabled Aptus to raise funds from various banks and financial institutions. There were no short tenor borrowings including commercial papers. With this in the back ground, Aptus''s borrowing strategy has always been prudent to secure long term funding ranging between 5-7 years. The above organization strengths coupled with good quality of portfolio gives us confidence to aspire for consistent profitable growth in the years to come.Īptus understands that it is in the business of long term funding which are in the range of 10-15 years. This would not have been possible but for the excellent systems and processes in originating loan proposals from customers and strong adherence to laid down policies in terms of credit, Legal, technical and collections. These levels, one of the best in the industry, have been maintained by Aptus since inception. This GNPA level was on the same levels as that of the previous year level despite impact of COVID 19 pandemic. Your Company closed the financial year 2020 - 21 with a Gross NPA of 0.68%.
![aptus financial reviews aptus financial reviews](https://www.mymoneysage.in/blog/wp-content/uploads/2021/08/Market-outlook-2-720x404.png)
This combined with fresh borrowings (other than from NHB) that were raised at lower interest rate during the year, helped us reduce the cost of borrowings to 8.43% as compared with 9.80% as on March 31,2020. The Profit After Tax (PAT) stood at ''267 crores for the year ended Mawhich was 40% higher over the PAT of ''190 crores (without considering the one time benefit of reversal of Deferred Tax Liability on special reserve in FY20) in the previous financial year.įurther during the year 2020-21, high cost funding from various banks/mutual funds was prepaid in order to reduce the cost of borrowings. The Profit Before Tax for the year ended Mastood at ''345 crores with an increase of 40% over ''247 crores in the corresponding period of the previous year. The total Assets Under Management of Aptus stood at ''4068 crores as at Maas against ''3179 crores as at March 31, 2020, thereby registering a growth of 28%.ĭuring the year under review, your Company''s Gross Income grew by 25% to ''655 crores as at Maas against ''523 crores as at March 31, 2020. Aptus continued its focus on Low and Middle Income families in Tier II and III cities and the disbursement of ''1298 crores benefitted more than 20000 families. The growth during the year was subdued due to the impact of Covid 19 pandemic. Your Company disbursed loans worth ''1298 crores during the year under review which was about the same as compared to the disbursements made during the previous year in spite of Covid-19 outbreak. The distribution network stood at 190 branches as at the end of Maas compared to 175 branches in the previous year.ĭuring the year under review, your Company sanctioned loans worth ''1404 crores as compared with the sanctions of ''1492 crores during the previous year. During the year under review, your Company expanded its distribution network in the states of Tamil Nadu, Andhra Pradesh and Telangana.