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SKS Micro Finance earned a profit before tax of Rs 267.70 crore on its total income of Rs 958.92cr for the FY 2010.The basic Earnings Per Share(EPS) of the company is Rs 33 as per the financial information provided by it.
India’s central bank, the Reserve Bank of India, specifies that non-deposit-taking NBFCs have to have a Capital adequacy Ratio of 12%. SKS maintains a healthy Capital adequacy Ratio of 24.8%. Ever since it transformed into a for-profit NBFC in 2005, SKS has established a reputation for raising equity and debt to keep pace with its ambitious growth plans. It has set new standards for the sector repeatedly on the amount of equity and debt raised. It has also been instrumental in introducing mainstream financial instruments into microfinance sector.
While funding its growth, SKS has given top priority to maintaining the highest standards in financial transparency. It recently converted from a Private limited Company in order to comply with
even more stringent accounting standards. It has won the CGAP award for Financial transparency thrice – in 2004, 2005 and again in 2006. Apart from financial audit conducted by external agencies, SKS also has a strong internal audit team of over 350 members who monitor operations on an on-going basis.
Given below are some of it’s operational and financial highlights
For more detailed financial info you can download the audited financial statements of SKS Microfinance at the link below
SKS Microfinance Annual Report 2009-2010 can be downloaded at the link below
From the Annual Report
Robust growth and strong foundation of SKS Microfinance
SKS Microfinance provides financial services to the poor in order to help them become financially self-reliant. As of March 31, 2010, SKS Microfinance had 6,780,000 women borrowers and total disbursments worth more than Rs.14,000 crore ($3 billion). These small, income generating loans have had a tremendous impact on the lives of our women borrowers and their families.
Category: Payday loans