Shares of FINO Payments Bank Limited, a Private sector player, witnessed its shares jumping nearly 2 percent and currently trade at Rs 221.65. In the past month, the stock has delivered returns of around 6.5 percent to its stakeholders ranging from Rs 208 to the current levels.
The company recently announced its results for FY22-23 through a regulatory filing with the exchange. Details of the same are mentioned later in the report.
FINO Payments Bank Limited, incorporated on 4th April 2017, is the Digital Banking Partner providing various types of financial services in India. It operates through four segments which include Corporate & Retail Banking, Treasury, and other Banking Operations. It is present in present in 90% of districts in the country with over 7 Lakh Banking Outlets, 130 Customer Service Points, and 54 Bank Branches.
Evaluating the financials reported by the company, the total revenues as well as PAT figures have gone up in recent quarters with the former moving from Rs 314 crores in Q3 v/s Rs 323 crores in Q4 and the latter moving from Rs 19 crores to Rs 22 crores during the same period.
Having a yearly comparison, the company has been successful in reporting decent growth in both of the metrics mentioned above. Total revenues jumped from Rs 1,009 crores during FY21-22 to Rs 1,230 crores in FY22-23 and the PAT numbers went up from Rs 43 crores to Rs 65 crores exhibiting an increase of approximately 51 percent.
The capital adequacy ratio of the company has marginally declined from 86.95 percent during the December quarter v/s 86.05 percent in the March quarter. Something on a good note is pertaining to the debt-to-equity ratio which has reduced from 1.33 in Q3 to 0.80 in Q4.
As per the shareholding data available for the quarter ending March 2023, promoters of the company hold a 75 percent stake, and Foreign Institutional Investors (FIIs), constantly reducing their stake in the past couple of quarters, holds a 7.2 percent stake in the company.
Written by Amit Madnani
