Incorporated in 2006, Madura Micro Finance Ltd (Madura) commenced its microfinance business in late 2006 by extending loans to self-help groups promoted by Micro Credit Foundation of India.
The company operates in the rural areas of Tamil Nadu and Puducherry; Madura had nearly 2 lakh borrowers and a loan portfolio of Rs.175 crore as on September 30, 2013.
Performance on key parameters
- Loan portfolio grew to Rs.151 crore as on March 31, 2013 from Rs.106 crore as on March 31, 2012, a year-on-year growth of around 42 per cent, after a brief period of consolidation. The company’s ability to maintain growth rate and market share over the medium term will be critical
- 30+ dpd has stabilised at less than 1 per cent after increasing following the Andhra Pradesh crisis
- Has relationships with more than 15 lenders as on March 31, 2013; also raises funds through securitisation on a regular basis
- Adequately capitalised for current and planned scale of operations, with net worth of Rs.61 crore and gearing of 1.9 times as on March 31, 2013
- Profitability is above industry average, with return on managed assets of 3.5 per cent during 2012-13. Profitability is supported by low operating expense
Madura Microfinance Data
Capitlisation, Profitability, Portfolio size and growth of Madura Microfinance over the last three years.