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 percent, 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 stabilized at less than 1 percent after increasing following the Andhra Pradesh crisis
- Has relationships with more than 15 lenders as on March 31, 2013; also raises funds through securitization on a regular basis
- Adequately capitalized for the current and planned scale of operations, with a net worth of Rs.61 crore and gearing of 1.9 times as on March 31, 2013
- Profitability is above the industry average, with a return on managed assets of 3.5 percent during 2012-13. Profitability is supported by low operating expense
MADURA MICROFINANCE DATA
Capitalization, Profitability, Portfolio size and growth of Madura Microfinance over the last three years.