Mix All India Benchmark Tables Fy 2013-14

8/17/2019 Mix All India Benchmark Tables Fy 2013-14

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All India

Benchmark Tables

India Microfinance Sector:

FY 2013-14


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All IndiaBenchmark TablesIndia Microfinance Sector:

FY 2013-14

Disclaimer : This publication is available for use in research and analysis. Data and content may only be used for non-commercial purposes.If the material is published or distributed, it should be attributed to MIX with the appropriate citation.


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Contents

Acknowledgement i

Foreword ii

About MIX iii

Introduction iv

Data & Methodology v

Summary vi

Brief Analysis vii

Benchmark Indicators viii

Institutional Characteristics 1

Financing Structure 9

Outreach Indicators 15

Financial Performance 23

Revenues 29

Expenses 35

Productivity 45

Risk and Liquidity 53

Glossary ix

List of Institutions x




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Acknowledgement

MIX would like to thank the Small Industries Development Bank of India (SIDBI) for supporting the Indian

Microfinance Platform (www.indianmicrofinanceplatform.in), which displays the data of Indian

Microfinance Institutions and provides additional sector analysis. MIX’s collaboration with SIDBI facilitates

data collection of the sector, standardizes the data collected and provides analytical tools that present an

in-depth analysis of the financial and operating trends in the industry.

MIX is privileged to take this opportunity to showcase the result of this collaboration in the form of the All India Benchmark Tables . The report presents the financial and operating data of those institutions for

which SIDBI has helped to facilitate the annual data collection for FY 2012-13 and FY 2013-14.

MIX is also grateful to all the institutions in the sector that have provided the comprehensive data in a

timely manner. MIX would not have been able to provide access to this data and create the analytical report,

without the strong support and dedication from all the institutions that helped in building transparency in

the industry.

i Disclaimer : This publication is available for use in research and analysis. Data and content may only be used for non-commercial purposes.

If the material is published or distributed, it should be attributed to MIX with the appropriate citation.


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Foreword-SIDBI

On behalf of Small Industries Development Bank of India (SIDBI), I am pleased

to present the All India Benchmark Tables (AIBT) as part of the ongoing India

Microfinance Platform (IMFP) initiative of the Bank in collaboration with the World

Bank and the MIX. IMFP has been designed to promote greater transparency in the

microfinance sector as a part of the overarching architecture of furtherance of

responsible lending practices in the microfinance space in India.

SIDBI has over the years played the market maker role in the MFI space. Various

initiatives, like, Capacity Assessment Rating- a holistic assessment of MFIs, Code of

Conduct Assessment (COCA), creating awareness about responsible finance, developing and disseminating

best practices, assisting MFIs in implementing best practices and creating processes to certify MFIs as

pro-client etc. IMFP is another such enabling initiative by SIDBI for the orderly, regulated and responsible

growth of the sector.

IMFP aims to promote greater transparency and responsible microfinance through the development

of a common information platform and move the sector towards better governance through formalized

monitoring of the microfinance code of conduct by independent organizations. AIBT is one of the sub-parts

of the overall IMFP framework.

I take this opportunity to compliment the MIX team for their dedicated efforts in developing and executing

the IMFP intervention successfully, including AIBT, helping the cause of responsible finance.

I would also like to thank the MFIs for sharing the information timely with MIX and making IMFP a reality

without which this would not have been possible.

World Bank has been a long standing partner of SIDBI and supporting the various responsible lending

initiatives undertaken by SIDBI for the progress of the sector and this initiative has been covered under

World Bank funding.

The AIBT have been modelled after the regional benchmarking tables produced by MIX and include various

performance metrics. These provide key performance reference points for tracking the development of

sector performance. MIX’s global benchmarking tables are one of the authoritative references for tracking

the performance of the microfinance sector and its institutions globally. Performance benchmarks serve

the needs of a range of actors, from MFIs and lenders, to donors and policy makers. I sincerely hope that this

effort adds greater value to the sector.

Pradeep Malgaonkar

Chief General ManagerSIDBI

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Foreword-MIX

Since its inception in 2002, MIX provides the global reference on the performance

of microfinance institutions (MFIs) through its online MIX Market platform

(www.mixmarket.org), published MFI benchmarks, and market reports. As

of 2015, MIX Market profiles, thousands of microfinance institutions, their

products, operations, financial and social highlights and provides robust industry

benchmarks for both financial and social performance. These benchmarks

provide important reference points for MFI managers and board members asthey set company strategy and track progress in rapidly changing markets. They

help lenders, regulators and other stakeholders set appropriate expectations of their MFI partners and

continually evaluate market development.

Local market partnerships are essential to making these data, benchmarks and analysis relevant to

actors in their local environments. These partnerships ensure MIX understands how global industry

reporting standards combine with local market needs in data and analysis.

MIX’s partnership with SIDBI under the India Microfinance Platform (IMFP) exemplifies this approach

to combining global practices with relevant local market context. Launched in 2013, IMPF has improved

transparency in the Indian microfinance sector through greater coverage of MFIs in the market and

through new, quarterly information on the outreach of microfinance at the state and district levels across

the country. These All India Benchmark Tables form part of that collaboration and provide the most

comprehensive look ever at the evolving performance of Indian microfinance over the last couple years.

MIX would like to thank SIDBI for its support and all participating MFIs for their continued collaboration

in providing timely, complete data on their outreach and performance. The resulting information and

analysis will help guide Indian MFIs and lenders in strengthening responsible finance in the sector.

Blaine Stephens

Chief Operating Offi cer

MIX



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In 2012, MIX celebrated 10 years of collecting data and producing analysis on the Indian microfinance

sector. Indian MFIs were then, as they remain now, the largest share of the global market, and the single

largest country contributing to MIX’s global industry benchmarks. As of the 31st March, 2014, MIX hosts

the data of 88 Indian MFIs, covering 98% of the Indian market. Many of these MFIs have partnered with

MIX since their inception, or MIX’s inception. MIX is a featured speaker or participant in several industry

events, and a regular contributor to key industry reports like the annual State of the Sector and Social

Performance reports.

MIX is the leading provider of business information and data services in the global microfinance industry.

MIX (www.mixmarket.org) is dedicated to strengthening the microfinance sector and is a public data hub

where microfinance institutions (MFIs) and supporting organizations share institutional data to create

transparency and market insight. This exchange enables users to establish reporting standards, reduce

reporting burden, and promote responsible investment. Supported by validated social and financial

performance data, MIX provides analysis on risk and opportunities in the market where MFIs operate.

Through this it aims to promote responsible financial services for underserved communities through data

analytics and market insight.

Since 2002, MIX has spearheaded the development of industry standards and transparency in the

microfinance sector across the globe. Now, as hosts to deep datasets on over 2,100 MFIs worldwide, MIX

has grown with the sector, developing online benchmarking tools, a financial inclusion platform, social

performance profiles, a suite of fresh market intelligence products as well as a new set of common reporting

solutions for MFIs and funders.

Fast innovation on new data products and tools is the cornerstone of MIX’s strategy to both keeping pace

with and influencing the direction of a quickly changing sector like microfinance. Globally renowned for

quality, MIX’s database calculates over 50 ratios for each MFI in addition to hosting full balance sheets and

income statements, portfolio reports, aging reports and institutional profiles.

This report is the product of the MIX’s Enhanced Market Intelligence analytics.

About-MIX

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MIX has collaborated with SIDBI to build the Indian Microfinance Platform (IMFP / www.

indianmicrofinanceplatform.in) that showcases the richness of data and insight on Indian microfinance

available on the platform. The aim of this collaboration is to expand the scope of data available in the

industry and analyze the given information. MIX has an objective to increase the usage and understanding

of the data amongst all stakeholders across the industry and provide transparency of the data.

MIX and SIDBI are pleased to present the “ All India Benchmark Tables for FY 2013-14”. This report captures

operational and financial trends of the microfinance industry for FY 2012-13 and FY 2013-14. The analysis

is based on the annual financial and operational data provided to MIX and based on the Audited Financials

Statements submitted by 88 institutions associated with MIX.

The Benchmark report is the most authoritative reference for tracking the performance of the microfinance

sector and Indian institutions. These benchmarks include a range of performance variables, from growth

and revenues, to risk and effi ciency. MIX has produced an all India version of these benchmark values on

a set of metrics agreed upon with SIDBI and published on the IMFP. This al l India report includes the peer

groups that are relevant to the Indian context. This report provides the users a tool with which they can

understand an institution’s performance and progress within a rapidly evolving industry, standardized

in accordance with internationally accepted terms, and benchmarked with the performance data of other,

similar institutions.

The All India Benchmark Tables allows a range of actors to track the development of sector performance

and highlight key issues as they emerge. From MFIs and lenders, to donors and policy makers, al l actors can

use this fundamental information in some aspect of decision-making.

Introduction

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l The data and analysis is based on financial and operating numbers for FY 2012-13 and FY 2013-14, for a

total of 88 MFIs in the country.

l The financial analysis is based on the audited financial statements of MFIs for FY 2012-13 and FY 2013-14.

l Operational and portfolio quality data are a self-reported.

l The data has been balanced over the time periods stated above for all metrics individually to provide a

comparable base. To balance the data, report includes only those institutions that have reported for bothtime periods for each of the indicator.

l A footnote is provided for all the indicators that explains the number of institutions included in the

balance panel (n).

l Ratios across various indicators have been derived based on simple averages and weighted averages,

which have been stated in the footnote of each indicator page as applicable.

l The benchmark values have been presented at four different levels, i.e. Minimum, Maximum, Median and

Averages (simple and weighted averages as stated ) across all the indicators and different peer groups.

l

Peer grouping information of the 88 institutions reported for FY 2012-13 and FY 2013-14 is explained inthe peer grouping section on the following page.

l The classification of the financial statements is based on IFRS Standards.

l MIX follows global industry standard definitions and formulae that are used for all analyses in the

report. (Refer the glossary for the details of all the definitions and ratios used in the publication)

l Fiscal year runs from 1st April to 31st March.

Peer grouping

The All India Benchmark Tables has three peer group category displayed across all the indicators. These

peer groups are Age, Legal status and Scale by GLP, (please refer the table below for its explanation) of

88 institutions reported for FY 2012-13 and FY 2013-14. The peer group distribution widens the scope of

comparison of individual institutions and a group of institutions. It differentiates the MFIs positioning and

thus helps to draw a comparison across the others.

Peer distribution

Data & Methodology

New Young Mature NBFI NGO Other < 100 Crore 100-500 Crore

500-1,000 Crore > 1,000 Crore

525525

84

27

5721

6

9

Data & MethodologyData & Methodology

AgeScale

byGLP

Legal

Status

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Peer group Subgroups Description

AGE

NewMFIs that have been in operation from 0 to 4 Years. Number of years, cal-

culated from the date of establishment of the MFI till 31st March 2014.

YoungMFIs that have been in operation from 5 to 8 Years. Number of years, cal-

culated from the date of establishment of the MFI till 31st March 2014.

MatureMFIs that have been in operation for more than 8 Years. Number of years,

calculated from the date of establishment of the MFI till 31st March 2014.

LEGAL

STATUS

NBFI

All the Non-banking financial company (NBFC) & NBFC- MFIs are catego-

rised as NBFI.

A Non-Banking Financial Company (NBFC) is a company registered under

the Companies Act, 1956 engaged in non-banking activity.

NBFC-MFI is defined as a non-deposit taking NBFC (other than a company

licensed under Section 25 of the Indian Companies Act, 1956) with

Minimum Net Owned Funds of Rs.5 crore (for NBFC-MFIs registered in

the North Eastern Region of the country, it will be Rs. 2 crore) and having

not less than 85% of its net assets as “qualifying assets”.

NGO

An organization registered as a nonprofit for tax purposes or some other

legal charter. Its financial services are usually more restricted, usually not

including deposit taking. These institutions are typically not regulated by

a banking supervisory agency.

OthersOthers include : Banks, Rural Banks, Credit Union/Cooperative banks and

Private Trust.

SCALE BY

GLP

1000 Crore MFIs that have Gross Loan Portfolio greater than 1000 Crore.

*Complete list of MFIs under different peergroups can be seen at the end of the document.



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Institutional Characteristics Snap shot - FY 2013-014*

1 Assets (Amount in Crore) (Σ) `31,400.81

2 Equity (Amount in Crore) (Σ) `4,490.99

3 Borrowings (Amount in Crore) (Σ) `24,228.71

4 Number of Branches (Σ) 11,5605 Personnel (Σ) 81,491

Financing Structure

6 Capital to Assets Ratio (WAV) 14.30%

7 Debt to Equity Ratio (WAV) 2.64

8 Gross Loan Portfolio to Total Assets (WAV) 102.77%

Outreach Indicators

9 Number of Active Borrowers (Units in Thousands) (Σ) 32,359

10 Number of Loans Outstanding (Units in Thousands) (Σ) 30,764

11 Gross Loan Portfolio (Amount in Crore) (Σ) `32,606.0612 Average Loan Balance per Borrower (A) `10,140.91

13 Average Outstanding Balance (A) `9,610.37

Financial Performance

14 Return on Assets (WAV) 2.38%

15 Return on Equity (WAV) 18.30%

16 Operational Self Sufficiency (A) 114.49%

Revenues

17 Financial Revenue / Assets (WAV) 20.31%

18 Profit Margin (A) 6.88%19 Yield on Gross Loan Portfolio (WAV) 19.75%

Expenses

20 Total Expense / Loan Portfolio (WAV) 18.12%

21 Financial Expense / Loan Portfolio (WAV) 10.40%

22 Provision for Loan Impairment / Assets (WAV) -0.01%

23 Operating Expense / Loan Portfolio (WAV) 8.43%

24 Personnel Expense / Loan Portfolio (WAV) 6.88%

25 Administrative Expense / Loan Portfolio (WAV) 3.39%

26 Cost per Borrower (A) `1,046.15

27 Cost per Loan (A) `1,021.00

Productivity

28 Borrowers per Staff Member (A) 294

29 Loans per Staff Member (A) 310

30 Borrowers per Loan Officer (A) 648

31 Loans per Loan Officer (A) 683

32 Personnel Allocation Ratio (A) 58.09%

Risk and Liquidity

33 Portfolio at Risk > 30 Days (WAV) 13.66%

34 Portfolio at Risk > 90 Days (WAV) 13.43%

35 Write-off Ratio (WAV) 1.33%

36 Loan Loss Rate (WAV) 1.23%

37 Non-Earning Liquid Assets / Assets (WAV) 16.30%

Summary

*Note: (i) Gross loan portfolio includes On and Off balance sheet (ii) Total = /Average = (A) / Weighted Average Value = (WAV) vi


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Institutional Characteristics

Over the last two years, FY 2012-13 and FY 2013-14 the microfinance industry in India has shown signs

of revival as institutions have diversified their portfolios away from Andhra Pradesh. The total asset

size of the industry grew by 29.7%, to Rs 31,400.8 crore in FY 2013-14 as compared to growth of 14.2% to

Rs. 24,202.8 crore in FY 2012-13. While comparing the average assets of the institutions by scale, it is seen

that institutions with loan portfolios greater than 500 crore are above the aggregated average assets in the

industry. (See the average benchmark values by peer group graph for assets).

In FY 2012-13, the aggregate equity value saw a decline of 32.7%, though there was a positive turnaround in

FY 2013-14 when the equity grew by 35.0%. Bandhan, Janalakshmi and SKS held the highest equity sizes

of Rs. 1,173.9 Crore, Rs. 513.9 Crore and Rs. 459.2 Crore, respectively. Most of the institutions with a major

share of portfolio in AP had to take a hit by providing for or writing off that portfolio which resulted in losses

and hence they reported negative equity. At a pan-India level, outstanding borrowing registered a slower

growth during FY 2013-14 of 29.2% as compared to the growth of 31.5% in FY 2012-13. Mature institutions

under the Age peer group have reported outstanding borrowing of Rs. 419.9 which is slightly above the

benchmark value of Rs. 318.8. The effect of the AP crisis had also impacted the number of branches and

personnel of the institutions during FY 2012-13. However, in FY 2013-14 the institutions are on the recovery

path and expanded their scope of business. Thus, the number of branches increased by 11.8% and total

personnel increased by 10.2%.

Financing Structure

The rise in the capital to asset ratio to 14.3% in FY 2013-14 from 13.7% in FY 2012-13 can be attributed to

various factors such as capital infusions, an increase in profits, and a constant gross loan portfolio as

the GLP growth was negated by write-offs (AP portfolio). The stabilization in the industry with the help

of regulations has brought back the confidence of the banks in the sector and thus has brought in more borrowing which results in an increase in the debt to equity ratio.

Outreach Indicators

Despite facing the AP crisis, the focus of the institutions has been on growth. This can be seen in all outreach

indicators. In FY 2013-14, the total number of borrowers increased by 20.1%, to 323.6 million from 269.5

million in FY 2012-13. However, the borrower growth in FY 2012-13 was only 9.4%.

The total gross loan portfolio of the institutions has grown 35.6% in FY 2013-14 as compared to 21.2% in FY

2012-13. The Average outstanding balance has increased to Rs 10,141 in FY 2013-14 from Rs. 8,991 in FY 2012-13. It is observed that in FY 2013-14, under the peer group category of Age, all of the sub-groups have an

almost similar average loan outstanding size.

Data & MethodologyData & MethodologyBrief Analysis

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Bandhan and Shri Kshethra Dharmsthala Rural Development Project (SKDRDP) reported the highest in all

three main outreach indicators of the number of active borrowers, the number of loans outstanding and

gross loan portfolio.

Financial Performance

The aggregated weighted average return on assets decreased to -12.1% in FY 2012-13. In FY 2013-14 however,

the sector had revived and registered a positive weighted average return on assets of 2.4%. Average return

on equity has a clear shift from -77.2% in FY 2012-13 to a positive value of 18.3% in FY 2013-14. This turnaround

can be attributed to the institutions with the GLP size of greater than 500 crore, which reported higher

return on assets in FY 2013-14.

Even with negative profit margins, the institutions are self-sufficient with an average operation self-

sufficiency of over 114.5% in FY 2013-14 and 106.5% in FY 2012-13.

Revenues

The below chart gives a relation between various expenses with respect to financial revenue earned by the

institutions in the year 2012-13 and 2013-14. Except for instituitions with GLP above 1000 crore in FY 2013-14,

the revenue is less than total expenses for all other peer groups in both the years.

0%

5%

-5%

Finance Expense Operating Expense

Breakdown of Revenues & Expenses

Finance RevenueProvision for LoanImpairment Assets

10%

15%

20%

25%

30%

35%

40%

FY 13

< 100 Crore 100 - 500 Crore 500 - 1000 Crore > 1000 Crore

FY 14 FY 13 FY 14 FY 13 FY 14 FY 13 FY 14

FY 2013-14 has witnessed the sector returning to profits. The average profit margin has increased to 6.9%

from -40.6% in FY 2012-13. Of the 88 total number of institutions reporting during the year, 80 institutions

have a positive profit margin. The 8 institutions which have negative profit margins are all AP-based

institutions and have undertaken the Corporate Debt Restructuring (CDR).

Institutions have to follow the pricing guidelines set by the RBI and thus it is seen that across all the peer

groups the yield on the gross loan portfolio has only a marginal movement. The institutions with the GLP of

less than 500 crore have a yield above the aggregated weighted average of 19.7%, whereas the institutions

with GLP above 500 crore have slightly lower yield than the aggregated average.

Expenses

Over the last couple of years, institutions have been watchful about their expense activity as the average

total expenses as a percentage of loan portfolio reduced to 18.1% in FY 2013-14 from an average of 32.2%

in FY 2012-13. The provision for loan impairment to asset ratio of 14.8% was the major contributor of the

total expenses in FY 2012-13. In FY 2013-14 the decline in the total expense was driven by a decline in the

provision for loan impairment to (-0.01%) from 14.9% in FY 2012-13.

Note: The above chart represent weighted average value used in the benchmark table for the period under review



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All IndiaBenchmark TablesIndia Microfinance Sector:

FY 2013-14


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InstitutionalCharacteristics


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I n s t i t u t i o n a

l

C h a r a c t e r i s t i c s

M F I L i s t i n g b y G L P S c a l e

Benchmark values by peer group

Amount in Crore (INR)

List of Institutions by Assets for FY 2013-14

0 0%

5,000 5%

10,000 10%

`24,024.86

14.18%

`31,400.8129.74%

15,000 15%

20,000 20%

25,000 25%

30,000 30%

35,000 35%

A m o u n t i n C r o r e ( I N R )

% G r o w t h

FY 2012-13 FY 2012-13FY 2013-14 FY 2013-14

Growth in Total Assets

Balanced Panel Information: Data balanced for FY 2011-12 to FY 2013-14; n = 82

Fiscal Year Total Assets Minimum Maximum Median Average

FY 2012 -13 `24,202.86 `0.40 `5,333.55 `58.73 `295.16

FY 2013 -14 `31,400.81 `1.71 `6,706.15 `65.53 `382.94

Year-on-Year


Average - Benchmark values by peer group for FY 2013-14

Assets

Average values of Peer Groups Average of Total Assets (Benchmark line)


`37.72

New

0

500

1,000

1,500

2000

2,500

Young Mature NBFI NGO 1000 cr

`487.10 `511.69

`33.28`43.80

`724.70

`174.71

Legal Status

Total Assets Growth in Total Assets

Age Scale by GLP`2,331.38

Scale Order # Name of the MFI Age Legal Status Assets

>1000 Crores1 Bandhan Financial Services Pvt Ltd. Mature NBFI `6,706.152 Shri Kshethra Dharmasthala Rural Development Project Mature NGO `2,807.633 Janalakshmi Financial Services Pvt Ltd Mature NBFI `2,489.86

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI `1,055.182 Muthoot Fincorp Ltd Young NBFI `812.86

3 Grama Vidiyal Microfinance Ltd. Mature NBFI `750.53

100 - 500 Crores1 Utkarsh Micro Finance Pvt. Ltd. Young NBFI `462.792 Sonata Finance Private Ltd Mature NBFI `451.113 Suryoday Micro Finance Pvt Ltd Young NBFI `396.75

< 100 Crores

1 Shri Mahila Sewa Sahakari Bank Ltd Mature Other `187.06

2 Village Financial Services Private Ltd. Mature NBFI `109.813 Mahasemam Mature NGO `83.85


F Y 2 0 1 3 - 1 4

Range

Peer group Sub-group # of MFI Total Minimum Maximum Median Average

Assets 82 `31,400.81 `1.71 `6,706.15 `65.53 `382.94

Age

New 3 `113.15 `3.31 `66.51 `43.33 `37.72

Young 25 `4,984.03 `1.71 `1,734.99 `60.77 `199.36

Mature 54 `26,303.64 `3.26 `6,706.15 `78.28 `487.10

Legal Status

NBFI 53 `27,119.73 `5.30 `6,706.15 `143.80 `511.69

NGO 23 `4,018.28 `1.71 `2,807.63 `14.10 `174.71

Other 6 `262.80 `3.26 `187.06 `9.42 `43.80

Scale(by GLP)

1000 Crore 9 `20,982.41 `819.75 `6,706.15 `2,062.53 `2,331.38

`235.41`199.36 `382.94

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List of Institutions by Equity for FY 2013-14

0

-30%

-40%

-20%1,000

-10%

`3,325.90

-32.75%

`4,490.99 35.03%

0%

2,000

10%

20%

3,000

30%4,000

5,000 40%


% G r o w t h

FY 2012-13

FY 2012-13

FY 2013-14

FY 2013-14

Growth in Total Equity

Balanced Panel Information: Data balanced for FY 2011-12 to FY 2013-14; n = 82; Market share of FY 2013-14 data = 97%

Fiscal Year Total Equity Minimum Maximum Median Average

FY 2012 -13 `3325.90 -`209.11 `899.58 `11.60 `40.56

FY 2013 -14 `4490.99 -`286.31 `1,173.97 `12.92 `54.77

Year-on-Year



Equity

Average values of Peer Groups Average of Total Equity (Benchmark line)


`18.95

New

0

50

100

150

200

250

300

350


`64.85`77.99

`9.74`9.25

`63.96

`13.13

Legal Status

Total Equity Growth in Total Equity

Age Scale by GLP

`314.87


F Y 2 0 1 3 - 1 4

Range


Equity 82 `4,490.99 -`286.31 `1,173.97 `12.92 `54.77

Age

New 3 `56.85 `0.05 `44.70 `12.10 `18.95

Young 25 `932.05 `0.36 `311.45 `14.49 `37.28

Mature 54 `3,502.09 -`286.31 `1,173.97 `11.62 `64.85

Legal Status

NBFI 53 `4,133.52 -`286.31 `1,173.97 `32.11 `77.99

NGO 23 `301.99 `0.05 `155.32 `2.09 `13.13

Other 6 `55.48 `0.50 `44.95 `2.13 `9.25

Scale(by GLP)

1000 Crore 9 `2,833.86 -`286.31 `1,173.97 `311.45 `314.87

`42.42 `54.77`37.28

Institutional

C

h a r a c t e r i s t i c s

M F I

L i s t i n g b y G L P S c a l e



>1000 Crores1 Bandhan Financial Services Pvt Ltd. Mature NBFI `1,173.972 Janalakshmi Financial Services Pvt Ltd Mature NBFI `513.963 SKS Microfinance Limited Mature NBFI `459.21

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI `211.062 Muthoot Fincorp Ltd Young NBFI `130.57

3 ESAF Microfinance and Investments Pvt Ltd Mature NBFI `130.04

100 - 500 Crores1 Suryoday Micro Finance Pvt Ltd Young NBFI `87.492 Sonata Finance Private Ltd Mature NBFI `84.47

3 Semam Microfinance Investment Literacy & Empower Ltd Mature NBFI `81.51

< 100 Crores

1 Shri Mahila Sewa Sahakari Bank Ltd Mature Other `44.95

2 Jagaran Microfin Private Ltd. New NBFI `44.703 Asa International India Microfinance Pvt. Ltd Young NBFI `41.13

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List of Institutions by Borrowings for FY 2013-14

0 28%

5,00029%

10,000

`18,753.25

31.54%`24,228.71

29.20%

15,000 30%

20,000

25,00031%

30,000 32%


% G r o w t h

FY 2012-13 FY 2012-13FY 2013-14 FY 2013-14

Growth in Total Borrowings


Fiscal Year Total Borrowings Minimum Maximum Median Average

FY 2012 -13 `18,753.25 `1.06 `4,354.36 `36.32 `246.75

FY 2013 -14 `24,228.71 `0.15 `5,424.66 `43.17 `318.80

Year-on-Year



Borrowings

Average values of Peer Groups Average of Total Borrowings (Benchmark line)


`16.76

New

0

400

600

200

800

1,000

1,200

1,400

1,600

1,800

2,000


`419.88 `437.45

`16.94`8.39

`609.88

`174.79`138.65`144.84

Legal Status

Total Borrowings Growth in Total Borrowings

Age Scale by GLP`1,837.42


>1000 Crores1 Bandhan Financial Services Pvt Ltd. Mature NBFI `5,424.662 Shri Kshethra Dharmasthala Rural Development Project Mature NGO `2,366.18

3 Janalakshmi Financial Services Pvt Ltd Mature NBFI `1,870.75

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI `783.322 Muthoot Fincorp Ltd Young NBFI `679.73

3 Asmitha Microfin Ltd Mature NBFI `572.87

100 - 500 Crores1 Utkarsh Micro Finance Pvt. Ltd Young NBFI `374.622 Sonata Finance Private Ltd Mature NBFI `332.753 Suryoday Micro Finance Pvt Ltd Young NBFI `296.30

< 100 Crores

1 Village Financial Services Private Ltd Mature NBFI `68.11

2 Samasta Microfinance Ltd Young NBFI `50.643 Chaitanya India Fin Credit Private Limited Young NBFI `47.74


F Y 2 0 1 3 - 1 4

Range


Borrowings 76 `24,228.71 `0.15 `5,424.66 `43.17 `318.80

Age

New 2 `33.53 `3.25 `30.28 `16.76 `16.76

Young 25 `3,620.89 `0.15 `1,258.68 `32.82 `144.84

Mature 49 `20,574.29 `2.16 `5,424.66 `68.11 `419.88

Legal Status

NBFI 48 `20,997.83 `4.51 `5,424.66 `145.19 `437.45

NGO 23 `3,188.90 `0.15 `2,366.18 `7.53 `138.65

Other 5 `41.97 `2.16 `21.96 `6.46 `8.39

Scale(by GLP)

1000 Crore 9 `16,536.75 `702.64 `5,424.66 `1,434.23 `1,837.42

`318.80


l





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Benchmark values by peer groups

List of Institutions by Number of Branches for FY 2013-14

0

4,000

2,000

6,000

10,343 11,560

8,000

10,000

12,000

14,000

N u m b e r o f B r a n c h e s

% G r o w t h

FY 2012-13 FY 2013-14

Growth in Total Number of Branches


Fiscal Year Branches Minimum Maximum Median Average

FY 2012 -13 10,343 1 1,803 41 131

FY 2013 -14 11,560 1 2,016 54 146

Year-on-Year

Average - Benchmark value by peer group for FY 2013-14

Number of Branches

Average values of Peer Groups Average of Total Number of Branches (Benchmark line)

N u m b e r o f B r a n c h e s

77

New

0

200

300

100

400

500

600

700

800


193 202

2939

332

4864

Legal Status

Total Number of Branches

Age Scale by GLP

697

Scale Order # Name of the MFI Age Legal Status No.of Branches

>1000 Crores1 Bandhan Financial Services Pvt Ltd. Mature NBFI 2,0162 SKS Microfinance Limited Mature NBFI 1,2553 Spandana Sphoorty Financial Limited Mature NBFI 1,061

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI 5502 Asmitha Microfin Ltd Mature NBFI 4293 Cashpor Micro Credit Mature NGO 341

100 - 500 Crores1 IFMR Rural Channels New Other 2162 Madura Micro Finance Ltd Mature NBFI 2023 Sonata Finance Private Ltd Mature NBFI 168

< 100 Crores

1 ASA International India Microfinance Pvt. Ltd Young NBFI 102

2 Village Financial Services Private Ltd Mature NBFI 1013 Sarvodaya Nano Finance Limited Mature NBFI 91

F Y 2 0 1 3 - 1 4

Range


Number of Branches 79 11,560 1 2,016 54 146

Age

New 4 307 4 216 44 77

Young 25 1,607 1 323 47 64

Mature 50 9,646 4 2,016 70 193

Legal Status

NBFI 51 10,286 5 2,016 70 202

NGO 21 1,001 1 341 14 48

Other 7 273 4 216 10 39

Scale(by GLP)

1000 Crore 9 6,274 122 2,016 354 697

0%-2%-4%

2%4%

-3.06%

11.77%

6%8%

10%12%14%

FY 2012-13 FY 2013-14

Growth in Total Number of Branches

102 146

Institutional

C

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21/66



List of Institutions by Personnel for FY 2013-14

0 -15%

-10%

-5%

73,940

-10.54%

81,491 10.21%

20,000

40,000 0%

60,000

80,000

5%

10%

15%

P e r s o n n e l

% G r o w t h

FY 2012-13

FY 2012-13

FY 2013-14

FY 2013-14

Growth in Total Personnel


Fiscal Year Personnel Minimum Maximum Median Average

FY 2012 -13 73,940 16 11,450 230 924

FY 2013 -14 81,491 15 13,010 298 1,019

Year-on-Year


Personnel

Average values of Peer Groups Average of Total Personnel (Benchmark line)

P e r s o n n e l

342

New

0

2,000

3,000

1,000

4.000

5,000

6,000


1,346

159189

1,984

617474

Legal Status

Total Personnel Growth in Total Personnel

Age Scale by GLP5,569

Scale Order # Name of the MFI Age Legal Status Personnel

>1000 Crores1 Bandhan Financial Services Pvt Ltd. Mature NBFI 13,0102 SKS Microfinance Limited Mature NBFI 8,9323 Shri Kshethra Dharmasthala Rural Development Project Mature NGO 6,814

500 -1000 Crores1 Cashpor Micro Credit Mature NGO 2,2942 Muthoot Fincorp Ltd Young NBFI 2,269

3 Grama Vidiyal Microfinance Ltd Mature NBFI 2,220

100 - 500 Crores1 Bharatiya Samruddhi Finance Ltd Mature NBFI 1,2762 Sonata Finance Private Ltd Mature NBFI 1,1143 Semam Microfinance Investment Literacy & Empower Ltd Mature NBFI 1,036

< 100 Crores

1 Village Financial Services Private Ltd Mature NBFI 679

2 Sarvodaya Nano Finance Limited Mature NBFI 5573 Sahara Utsarga Welfare Society Mature NGO 461

F Y 2 0 1 3 - 1 4

Range


Personnel 80 81,491 15 13,010 298 1,019

Age

New 4 1,367 30 864 237 342

Young 25 11,841 15 3,054 294 474

Mature 51 68,283 16 13,010 407 1,339

Legal Status

NBFI 51 68,632 35 13,010 468 1,346

NGO 22 11,536 15 6,814 90 524

Other 7 1, 323 16 864 51 189

Scale(by GLP)

1000 Crore 9 50,117 1,958 13.010 4,388 5,569

1,339

1,019


l


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FinancingStructure


23/66



List of Institutions by Capital to Assets Ratio for FY 2013-14

0%

5%

10%

22.05% 21.52%

13.74% 14.30%15%

20%

25%

C a p i t a l t o A s s e t s R a t i o

FY 2012-13 FY 2013-14

Median and Weighted Average of Capital to Assets Ratio

Balanced Panel Information: Data balanced for FY 2011-12 to FY 2013-14; n = 82Note: WAV = Weighted average value for the period under review

Fiscal Year Minimum Maximum Median Weighted Average

FY 2012 -13 -72.17% 97.75% 22.05% 13.74%

FY 2013 -14 -67.28% 96.63% 21.52% 14.30%

Year-on-Year

Weighted Average - Benchmark value by peer group for FY 2013-14

Capital to Assets Ratio

Median Weighted Average

C a p i t a l t o A s s e t s R a t i o

50.24%

New

0

10%

20%

30%

40%

50%

60%


15.24%

29.25%

21.11%

14.30%7.51%

Legal Status Age Scale by GLP

13.51%


>1000 Crores1 Janalakshmi Financial Services Pvt Ltd Mature NBFI 20.64%2 SKS Microfinance Limited Mature NBFI 20.06%3 Ujjivan Financial Services Pvt. Ltd Mature NBFI 18.06%

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI 20.00%2 EASF Microfinance and Investments Pvt Ltd Mature NBFI 19.52%3 Muthoot Fincorp Ltd Young NBFI 16.06%

100 - 500 Crores1 Arohan Financial Services Private Ltd Mature NBFI 29.58%2 Madura Micro Finance Ltd Mature NBFI 27.45%3 Semam Microfinance Investment Literacy & Empower Ltd Mature NBFI 27.03%

< 100 Crores1 Nirantara Finaccess Private Limited Mature NBFI 96.63%

2 Agora Microfinance India Ltd Mature NBFI 85.23%3 ASA International India Microfinance Pvt. Ltd Young NBFI 75.16%

F Y 2 0 1 3 - 1 4

Range

Peer group Sub-group # of MFI Minimum Maximum Median Weighted Average

Capital to Assets Ratio 82 -67.28% 96.63% 21 .52% 14.30 %

Age

New 3 1.40% 67.21% 27.93% 50.24%

Young 25 1.56% 75.16% 19.78% 18.70%

Mature 54 -67.28% 96.63% 22.44% 13.31%

Legal Status

NBFI 53 -67.28% 96.63% 21.43% 15.24%

NGO 23 1.40 % 43.46% 17.89% 7.51 %

Other 6 6.42% 33.70% 22.82% 21.11%

Scale(by GLP)

1000 Crore 9 -34.93% 20.64% 17.51% 13.51%

18.02%18.70%

13.31%8.82%

WAV of Peer Groups WAV of Capital Assets Ratio (Benchmark line)

F i n a n c i n g

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List of Institutions by Debt to Equity Ratio for FY 2013-14

Median and Weighted Average of Debt to Equity Ratio

Balanced Panel Information: Data balanced for FY 2011-12 to FY 2013-14; n = 82Note : WAV = weighted average value for the period under review


FY 2012 -13 -122.65 364.67 3.15 -0.10

FY 2013 -14 -90.49 70.33 3.42 2.64

Year-on-Year

Weighted Average - Benchmark value by peer group for 2013-14

Debt to Equity Ratio

WAV of Peer Group WAV of Debt to Equity Ratio (Benchmark line)

D e b t t o E q u i t y R a t i o

0.99

New

0

2

4

6

8

10

12

14


6.51

5.56

3.74

10.33

12.31

4.35


6.40

Scale Order # Name of the MFI Age Legal Status Debt to Equity Ratio

>1000 Crores1 Shri Kshethra Dharmasthala Rural Development Project Mature NGO 17.082 Satin Creditcare Network Limited Mature NBFI 6.713 Bandhan Financial Services Pvt Ltd Mature NBFI 4.71

500 -1000 Crores1 Cashpor Micro Credit Mature NGO 11.452 Grama Vidiyal Microfinance Ltd Mature NBFI 6.783 Muthoot Fincorp Ltd Young NBFI 5.23

100 - 500 Crores

1 SV Creditline (P) Ltd Young NBFI 5.67

2 Asirvad Microfinance Private Limited Young NBFI 5.653 Annapurna Microfinance Pvt. Ltd Young NBFI 5.31

< 100 Crores1 Gramalaya Microfin Foundation New NGO 70.33

2 Samhita Community Development Services Young NGO 63.033 Grameen Sahara Matia Goalpara Mature NGO 40.52

F Y 2 0 1 3 - 1 4

Range


Debt to Equity Ratio 82 -90.49 70.33 3.42 2.64

Age

New 3 0.49 70.33 2.58 0.99

Young 25 0.33 63.03 4.06 4.35

Mature 54 -90.49 40.52 3.10 6.51

Legal Status

NBFI 53 -90.49 6.78 3.03 5.56

NGO 23 1.30 70.33 4.59 12.31

Other 6 1.97 14.57 3.40 3.74

Scale(by GLP)

1000 Crore 9 -90.49 17.08 4.54 6.40

4.55

0

-1

1

2 3.15 3.42

-0.10

2.64

3

4

D e b t t o E q u i t y R a t i o

FY 2012-13 FY 2013-14


2.42 2.64

Financing

S t r u c t u r e




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M F

I L i s t i n g b y G L P S c a l e


List of Institutions by Gross Loan Portfolio to Total Assets for FY 2013-14

Median and Weighted Average of Gross Loan Portfolio to Total Assets

Balanced Panel Information: Data balanced for FY 2012-13 to FY 2013-14; n = 82Note : (i) Gross loan portoflio inclludes On Balance sheet and Off Balance sheet loan portfolio.(ii) WAV = weighted average value for the period under review

Year-on-Year


Gross Loan Portfolio to Total Assets

WAV of Peer Groups WAV of Gross Loan Portfolio to Total Assets (Benchmark line)

G r o s s L o a n P o r t f o l i o t o T o t a l A s s e t s

88.43%

New

0%

20%

40%

60%

80%

100%

120%


105.48% 102.47%

80.28%

55.25%

104.53%107.87%

88.76%


107.30%

Scale Order # Name of the MFI Age Legal Status Gross Loan Portfolio to Total Assets

>1000 Crores1 Spandana Sphoorty Financial Limited Mature NBFI 219.85%2 Share Microfin Ltd Mature NBFI 214.42%

3 SKS Microfinance Limited Mature NBFI 135.98%

500 -1000 Crores

1 Asmitha Microfin Ltd Mature NBFI 251.85%2 Muthoot Fincorp Ltd Young NBFI 100.60%

3 Grama Vidiyal Microfinance Ltd Mature NBFI 96.67%

100 - 500 Crores1 Bharatiya Samruddhi Finance Ltd Mature NBFI 165.79%2 Disha Microfin Private Limited Young NBFI 105.46%

3 Future Financial Services Limited Mature NBFI 104.56%

< 100 Crores1 Gramalaya Microfin Foundation New NGO 345.74%

2 Humana People To People India Young NGO 202.16%3 Samhita Community Development Services Young NGO 174.27%

F Y 2 0 1 3 - 1 4

Range


Gross Loan Portfolio to Total Assets 82 44.58% 354.74% 85.80% 102.77%

Age

New 3 77.00% 345.74% 86.31% 88.43%

Young 25 44.89% 202.16% 85.75% 88.76%

Mature 54 44.58% 251.85% 85.69% 105.48%

Legal Status

NBFI 53 51.83% 251.85% 86.31% 102.47%

NGO 23 44.89% 345.74% 85.47% 107.87%

Other 6 44.58% 90.98% 80.47% 55.25%

Scale(by GLP)

1000 Crore 9 78.41% 219.85% 94.82% 107.30%

87.82%

0%

20%

40%

84.38% 85.80%98.93%

102.77%

60%

80%

100%

120%

G r o s s L o a n P o r t f o l i o t o

T o t a l A s s e t s

FY 2012-13 FY 2013-14



FY 2012 -13 15.87% 275.38% 84.38% 98.93%

FY 2013 -14 44.58% 345.74% 85.80% 102.77%

102.77%

F i n a n c i n g

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OutreachIndicators


27/66



Units in Thousands

List of Institutions by Borrowers for FY 2013-14

Growth in Total Number of Active Borrowers


Year-on-Year


Number of Active Borrowers

Average values of Peer Groups Average of Total Number of Active Borrowers (Benchmark line)

U n i t s i n t h o u s a n d s

77

New

0

500

1,000

1,500

2,000

2,500

3,000


539 555

35

640


2,559

GLP Scale Order # Name of the MFI Age Legal Status Active Borrowers

>1000 Crores1 Bandhan Financial Services Pvt Ltd Mature NBFI 5,4102 SKS Microfinance Limited Mature NBFI 4,9633 Shri Kshethra Dharmasthala Rural Development Project Mature NGO 3,049

500 -1000 Crores1 Asmitha Microfin Ltd Mature NBFI 8622 Muthoot Fincorp Ltd Young NBFI 7183 Cashpor Micro Credit Mature NGO 656

100 - 500 Crores

1 Semam Microfinance Investment Literacy & Empower Ltd Mature NBFI 328

2 Bharatiya Samruddhi Finance Ltd Mature NBFI 3273 Utkarsh Micro Finance Pvt. Ltd Young NBFI 320

< 100 Crores1 Village Financial Services Private Ltd Mature NBFI 136

2 Mahasemam Mature NGO 1093 BWDA Finance Ltd Mature NBFI 97

196

Fiscal Year Active Borrowers Minimum Maximum Median Average

FY 2012 -13 26,949 1 4,434 68 337

FY 2013 -14 32,359 1 5,410 73 404

0 0%5,000

5%10,000

26,949

9.42%

32,35920.07%

15,000 10%

20,000

25,00015%

30,000

35,000

20%

25%


% G r o w t h

FY 2012-13 FY 2012-13FY 2013-14 FY 2013-14

Total Number of Active Borrowers Growth in Total Number of Active Borrowers

Units in Thousands

Units in Thousands

F Y 2 0 1 3 - 1 4

Range


Number of Active Borrowers 80 32,359 1 5,410 73 404

Age

New 4 309 1 8 166 62 77

Young 25 4,565 1 1,821 58 183

Mature 51 27,485 2 5,410 109 539

Legal Status

NBFI 50 27,740 5 5,410 158 555

NGO 23 4,365 1 3.049 17 190

Other 7 254 2 166 10 36

Scale(by GLP)

1000 Crore 9 23,030 800 5,410 2,036 2,559

36190183 404

O u

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Units in thousands

List of Institutions by Number of Loans Outstan ding for FY 2013-14

Year-on-Year


Number of Loans Outstanding

Average values of Peer Groups Average of Total Number of Loans Outstanding (Benchmark line)


New

0

500

1,000

1,500

2,000

2,500

3,000


525 508

36

829


2,517

GLP Scale Order# Name of the MFI Age Legal Status No. of Loans Outstanding

>1000 Crores1 Bandhan Financial Services Pvt Ltd Mature NBFI 5,4102 Shri Kshethra Dharmasthala Rural Development Project Mature NGO 4,3093 Spandana Sphoorty Financial Limited Mature NBFI 2,765

500 -1000 Crores1 Asmitha Microfin Ltd Mature NBFI 1,2122 Grameen Koota Financial Services Pvt Ltd Mature NBFI 1.0373 Grama Vidiyal Microfinance Ltd Mature NBFI 739

100 - 500 Crores

1 Semam Microfinance Investment Literacy & Empower Ltd Mature NBFI 332

2 Bharatiya Samruddhi Finance Ltd Mature NBFI 3273 Utkarsh Micro Finance Pvt. Ltd Young NBFI 320

< 100 Crores1 Village Financial Services Private Ltd Mature NBFI 136

2 Mahasemam Mature NGO 1093 BWDA Finance Ltd Mature NBFI 97

203

Units in thousands

Fiscal Year Total Minimum Maximum Median Average

FY 2012 -13 25,278 1 4,434 68 324

FY 2013 -14 30,764 1 5,410 73 394

0 0%5,000

5%10,000

25,278

7.74%

30,764 21.70%

15,000 10%

20,000

25,00015%

30,000

35,000

20%

25%


% G r o w t h

FY 2012-13 FY 2012-13FY 2013-14 FY 2013-14

Total Number of Loans Outstanding Growth in Total Number of Loans Outstanding

Units in thousands

F Y 2 0 1 3 - 1 4

Range


Number of Loans Outstanding 78 30,764 1 5,410 73 394

Age

New 4 319 1 8 176 62 80

Young 25 4,743 1 1,935 58 190

Mature 49 25,702 2 5,410 109 525

Legal Status

NBFI 49 24,868 5 5,410 164 508

NGO 23 5,638 1 4.309 17 245

Other 6 258 2 176 15 43

Scale(by GLP)

1000 Crore 8 20,139 800 5,410 2,066 2,517

43245190

Growth in Total Number of Loans Outstanding

80 394

Outre

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List of Institutions by Gross Loan Portfolio for FY 2013-14

Balanced Panel Information: Data balanced for FY 2012-13 to FY 2013-14; n = 84Note: Gross loan portfolio includes On and of balancesheet portfolio.

Year-on-Year


Gross Loan Portfolio

Average of Peer Groups Average of Total Gross Loan Portfolio (Benchmark line)


`97.71

New

0

500

1,000

1,500

2,000

2,500

3,000


`505.30 `515.48

`27.10

`757.71


`2,501.58

GLP Scale Order # Name of the MFI Age Legal Status Gross Loan Portfolio

>1000 Crores1 Bandhan Financial Services Pvt Ltd Mature NBFI `6,106.972 Shri Kshethra Dharmasthala Rural Development Project Mature NGO `3,200.293 SKS Microfinance Limited Mature NBFI `3,112.84

500 -1000 Crores1 Asmitha Microfin Ltd Mature NBFI `947.122 Grameen Koota Financial Services Pvt Ltd Mature NBFI `819.523 Muthoot Fincorp Ltd Young NBFI `817.76

100 - 500 Crores

1 Utkarsh Micro Finance Pvt. Ltd Young NBFI `355.65

2 Sonata Finance Private Ltd Mature NBFI `

346.513 Suryoday Micro Finance Pvt Ltd Young NBFI `326.75

< 100 Crores1 Village Financial Services Private Ltd Mature NBFI `89.72

2 Shri Mahila Sewa Sahakari Bank Ltd Mature Other `83.393 Mahasemam Mature NGO `69.00

`210.95


Fiscal Year Total Minimum Maximum Median Average

FY 2012 -13 `24,038.70 `0.06 `4,420.88 `46.97 `286.17

FY 2013 -14 `32,606.06 `0.77 `6,106.97 `51.34 `388.17

0 0%5,000 5%

10,000

`24,038.7021.21%

`32.606.06 35.64%

15,000

10%

20,000

25,000

15%

30,000

35,000

20%

25%30%35%40%


% G r o w t h

FY 2012-13 FY 2012-13FY 2013-14 FY 2013-14

Total Gross Loan Portfolio Growth in Total Gross Loan Portfolio


F Y 2 0 1 3 - 1 4

Range


Gross Loan Portfolio 84 `32,606.06 `0.77 `6,106.97 `51.34 `388.17

Age

New 4 `390.83 `11.44 `290.78 `44.30 `97.71

Young 25 `4,423.99 `0.77 `1,503.00 `49.13 `176.96

Mature 55 `27,791.23 `2.64 `6,106.97 `59.65 `505.30

Legal Status

NBFI 54 `27,835.79 `5.11 `6,106.97 `152.21 `515.48

NGO 23 `4,334.29 `0.77 `3,200.29 `13.42 `188.45

Other 7 `435.98 `2 .64 `290.78 `8.55 `62.28

Scale(by GLP)

1000 Crore 9 `22,514.26 `1,056.06 `6,106.97 `2,052.94 `2,501.58

`62.28`188.45

`176.96 `388.17

Growth in Total Gross Loan Portfolio

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List of Institutions by Average Loan Balance Per Borrower for FY 2013-14


Year-on-Year


Average Loan Balance Per Borrower

Average values of Peer Groups Average of Average Loan Blance per Borrower (Benchmark line)

A v e r a g e L o a n B a l a n c e p e r B o r r o w e r

New

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000


`10,391

`8,105

`16,870

`11,292

`12,138

`10,505


GLP Scale Order # Name of the MFI Age Legal Status Average Loan Balance per Borrower

>1000 Crores1 Janalakshmi Financial Services Pvt Ltd Mature NBFI `14,5322 Satin Creditcare Network Limited Mature NBFI `13,2003 Ujjivan Financial Services Pvt. Ltd Mature NBFI `12,468

500 -1000 Crores1 Grameen Koota Financial Services Pvt Ltd Mature NBFI `16,2382 EASF Microfinance and Investments Pvt Ltd Mature NBFI `13,4693 Muthoot Fincorp Ltd Young NBFI `11,382

100 - 500 Crores

1 IFMR Rural Channels New Other `17,502

2 BSS Microfinance Pvt. Ltd Mature NBFI `

16,1693 Sahayog Microfinance Ltd Young NBFI `14,344

< 100 Crores1 Shri Mahila Sewa Sahakari Bank Ltd Mature Other `50,120

2 YVU Microfin - YMF Young Other `15,0563 Chaitanya India Fin Credit Privated Limited Young NBFI `12,190

Fiscal Year Minimum Maximum Median Average

FY 2012 -13 `3,506 `23,499 `8.769 `8,991

FY 2013 -14 `3,607 `50,120 `9,347 `10,141

F Y 2 0 1 3 - 1 4

Range

Peer group Sub-group # of MFI Minimum Maximum Median Average

Average Loan Balance per Borrower 78 `3,607 `50,120 `9,347 `10,141

Age

New 4 `6,137 `17,502 `7,657 `9,738

Young 25 `4,208 `15,056 `10,778 `9,715

Mature 49 `3,607 `50,120 `9,291 `10,391

Legal Status

NBFI 50 `3,607 `16,238 `10,758 `10,054

NGO 21 `4,208 `11,762 `7,423 `8,105

Other 7 `6,132 `50,120 `11,707 `16,870

Scale(by GLP)

1000 Crore 9 `6,272 `14,532 `10,496 `10,505

`10,141

Median and Average of Average Loan Balance per Borrower

`9,738 `9,715

2,000

4,000

6,000

8,000

10,000

12,000

0

`8,769`9,347

`8.991`10,141

A v e r a g e L o a n B a l a n c e

p e r B o r r o w e r

FY 2012-13 FY 2013-14

Median Average

`10,054 `9,297

Outre

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List of Institutions by Average Outstanding Balance for FY 2013-14


Year-on-Year


Average Outstanding Balance

Average values of Peer Groups Average of Average Loan Blance per Borrower (Benchmark line)

A v e r a g e O u t s t a n d i n g B a l a n c e

New

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000


`7,875

`16,722

`10,831`19,405 `10,271


GLP Scale Order # Name of the MFI Age Legal Status Average Outstanding Balance

>1000 Crores1 Janalakshmi Financial Services Pvt Ltd Mature NBFI `14,5322 Satin Creditcare Network Limited Mature NBFI `13,2003 Ujjivan Financial Services Pvt. Ltd Mature NBFI `12,333

500 -1000 Crores1 Muthoot Fincorp Ltd Young NBFI `11,3822 EASF Microfinance and Investments Pvt Ltd Mature NBFI `10,0013 Grama Vidiyal Microfinance Ltd Mature NBFI `9,814

100 - 500 Crores

1 IFMR Rural Channel New Other `16,564

2 Sahayog Microfinance Ltd Young NBFI `

14,2813 Swadhaar Finserve Pvt. Ltd Mature NBFI `12,422

< 100 Crores1 Shri Mahila Sewa Sahakari Bank Ltd Mature Other `42,589

2 YVUMicrofin - YMF Young Other `15,0563 Chaitanya India Fin Credit Privated Limited Young NBFI `12,190


FY 2012 -13 `3,506 `23,499 `8,420 `8.670

FY 2013 -14 `3,233 `42,589 `8,975 `9,610

F Y 2 0 1 3 - 1 4

Range


Average Outstanding Balance 76 `3.233 `42,589 `8,975 `9,610

Age

New 4 `6,137 `16,564 `7,657 `9,504

Young 25 `4,208 `15,056 `10,738 `9,544

Mature 47 `3,233 `42,589 `8,660 `9,655

Legal Status

NBFI 49 `3,233 `14,532 `9,814 `9,483

NGO 21 `4,208 `11,762 `7,423 `7,875

Other 6 `6,132 `42,589 `13,381 `16,722

Scale(by GLP)

1000 Crore 8 `7,427 `14,532 `9,645 `10,271

`9,610`9,504 `9,544

Median and Average of Average Outstanding Balance

2,000

4,000

6,000

8,000

10,000

0

`8,420`8,975

`8,670 `9,610

A v e r a g e O u t s t a n d i n g

B a l a n c e

FY 2012-13 FY 2013-14

Median Average

`9,483 `8,977`9,655

O u

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FinancialPerformance


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List of Institutions by Return on Assets for FY 2013-14


Year-on-Year


Return on Assets

WAV of Peer Groups WAV of Return on Assets (Benchmark line)

R e t u r n o n A s s e t s

New

-1%

0%

1%

2%

3%

4%

5%

6%


-0.12%

3.10%


GLP Scale Order # Name of the MFI Age Legal Status Return on Assets

>1000 Crores1 Bandhan Financial Services Pvt Ltd Mature NBFI 5.14%2 Equitas Micro Finance India Pvt Ltd Young NBFI 3.70%3 Ujjivan Financial Services Pvt. Ltd Mature NBFI 3.55%

500 -1000 Crores1 Muthoot Fincorp Ltd Young NBFI 11.36%2 Cashpor Micro Credit Mature NGO 3.30%3 Grameen Koota Financial Services Pvt Ltd Mature NBFI 2.69%

100 - 500 Crores

1 Madura Micro Finance Ltd Mature NBFI 5.00%

2 SV Creditline (P) Ltd Young NBFI 4.95%3 Future Financial Services Limited Mature NBFI 4.27%

< 100 Crores1 Humana People To People India Young NGO 8.85%

2 Jagaran Microfin Private Ltd New NBFI 7.54%3 Sarala Women Welfare Society Young NGO 5.76%


FY 2012 -13 -74.34% 10.47% 1.16% -12.15%

FY 2013 -14 -40.94% 11.36% 2.22% 2.38%

F Y 2 0 1 3 - 1 4

Range


Return on Assets 78 -40.94% 11.36% 2.22% 2.38%

Age

New 3 1.31% 7.54% 1.52% 5.07%

Young 24 0.06% 11.36% 2.35% 4.26%

Mature 51 -40.94% 5.15% 2.22% 2.08%

Legal Status

NBFI 50 -40.94% 11.36% 2.21% 2.38%

NGO 22 -2.87% 8.85% 2.52% 2.47%

Other 6 0.38% 5.15% 0.81% 0.86%

Scale(by GLP)

1000 Crore 9 -2.79% 5.14% 2.95% 3.10%

2.38%

5.07%

4.26%

Median and Weighted Average of Return on Assets

-10%

-5%

0%

5%

-15%

1.16% 2.22%

-12.15%

2.38%

R e t u r n o n A s s e t s

FY 2012-13 FY 2013-14


2.38% 2.47%

0.86%1.05% 1.48%

2.08%

F i n a n c i a l

P e r f o r m a n c e




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M F I L

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List of Institutions by Return on Equity for FY 2013-14


Year-on-Year


Return on Equity

WAV of Peer Groups WAV of Return on Equity (Benchmark line)

R e t u r n o n E q u i t y

New

-10%

-20%

0%

10%

20%

30%

40%

Young Mature NBFI NGO 10 00 cr

-2.78%

27.23%


GLP Scale Order # Name of the MFI Age Legal Status Return on Assets

>1000 Crores1 Shri Kshethra Dharmasthala Rural Development Project Mature NGO 46.97%2 Bandhan Financial Services Pvt Ltd Mature NBFI 28.90%3 Equitas Micro Finance India Pvt Ltd Young NBFI 19.77%

500 -1000 Crores1 Muthoot Fincorp Ltd Young NBFI 64.86%2 Cashpor Micro Credit Mature NGO 38.11%3 Asmitha Microfin Ltd Mature NBFI 23.27%

100 - 500 Crores

1 Bharatiya Samruddhi Finance Ltd Mature NBFI 143.73%

2 SV Creditline (P) Ltd Young NBFI 28.65%3 Madura Micro Finance Ltd Mature NBFI 26.26%

< 100 Crores1 Gramalaya Microfin Foundation New NGO 135.87%2 Grameen Sahara Matia Goalpara Mature NGO 69.16%3 Samhita Community Development Services Young NGO 48.42%


FY 2012 -13 -1120.47% 131.82% 4.69% -77.16%

FY 2013 -14 -45.43% 143.73% 11.61% 18.30%

F Y 2 0 1 3 - 1 4

Range


Return on Equity 79 -45.43% 143.73% 11.61% 18.30%

Age

New 4 -45.43% 135.87% 7.02% -13.42%

Young 24 0.17% 64.86% 8.78% 19.54%

Mature 51 -35.70% 143.73% 13.40% 18.98%

Legal Status

NBFI 50 -35.70% 143.73% 8.98% 18.02%

NGO 22 -9.83% 135.87% 21.20% 34.24%

Other 7 -45.43% 26.42% 4.09% -16.23%

Scale(by GLP)

1000 Crore 9 -35.70% 46.97% 16.73% 27.23%

18.30%

-13.42%

19.54%

Median and Weighted Average of Return on Equity

-80%

-100%

-20%

-40%

-60%

20%

0%

40%

4.96% 11.61%

-77.16%

18.30%

R e t u r n o n E q u i t y

FY 2012-13 FY 2013-14


34.24%

18.02%

-16.23%

3.96%

24.24%

18.98%

Financial





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List of Institutions by Operational Self Suffi ciency for FY 2013-14


Year-on-Year


Operational Self Suffi ciency

Average values of Peer Groups Average of Operational Self Suffi ciency (Benchmark line)

O p e r a t i o n a l S e l f S u ffi c i e n c y

New

0%

20%

40%

60%

80%

100%

120%

140%

160%


114.38% 111.53% 117.53% 116.83%

121.66%


GLP Scale Order # Name of the MFI Age Legal Status Operational Self Suffi ciency

>1000 Crores1 Bandhan Financial Services Pvt Ltd Mature NBFI 151.43%2 Equitas Micro Finance India Pvt Ltd Young NBFI 133.34%3 Ujjivan Financial Services Pvt. Ltd Mature NBFI 130.64%

500 -1000 Crores1 Muthoot Fincorp Ltd Young NBFI 172.34%2 Grameen Koota Financial Services Pvt Ltd Mature NBFI 123.24%3 Cashpor Micro Credit Mature NGO 116.59%

100 - 500 Crores

1 Madura Micro Finance Ltd Mature NBFI 151.17%

2 Annapurna Microfinance Pvt. Lt Young NBFI 131.56%3 SV Creditline (P) Ltd Young NBFI 127.78%

< 100 Crores1 Jagaran Microfin Private Ltd New NBFI 213.57%

2 Humana People To People India Young NGO 154.41%3 Sarala Women Welfare Society Young NGO 147.69%


FY 2012 -13 4.15% 258.23% 108.47% 106.49%

FY 2013 -14 30.27% 213.57% 114.60% 114.49%

F Y 2 0 1 3 - 1 4

Range


Operational Self Suffi ciency 82 30.27% 213.57% 114.60% 114.49%

Age

New 3 104.54% 213.57% 110.45% 142.85%

Young 25 100.44% 172.34% 116.21% 120.02%

Mature 54 30.27% 151.43% 114.25% 110.35%

Legal Status

NBFI 53 30.27% 213.57% 115.57% 114.87%

NGO 23 88.31% 154.41% 114.57% 114.38%

Other 6 103.25% 134.76% 107.83% 111.53%

Scale(by GLP)

1000 Crore 9 83.22% 151.43% 122.01% 121.66%

114.49%

142.85%

120.2%

Median and Average of Operational Self Suffi ciency

50%

100%

150%

0

108.47% 114.60%106.49%

114.49%

O p e r a t i o n a l S e l f

S u ffi c i e n c y

FY 2012-13 FY 2013-14

Median Average

114.87% 111.64%110.35%

F i n a n c i a l





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Revenues


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Year-on-Year


Financial Revenue / Assets

WAV of Peer Groups WAV of Financial Revenue / Assets (Benchmark line)

F i n a n c i a l R e v e n u e / A s s e t s

New

0%

5%

10%

15%

20%

25%


13.56%

21.84% 20.79%


GLP Scale Order # Name of the MFI Age Legal Status Financial Revenue / Assets

>1000 Crores1 Janalakshmi Financia

Mix All India Benchmark Tables Fy 2013-14

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