Mero Microfinance Issuing 100% Right Share From Today

January 28, 2019 | Investopaper

Mero Microfinance is issuing 100% or 1:1 right share from today (Falgun 19, 2075).  Global Ime Capital is the issue manager for the right of Mero microfinance. Shareholders purchasing shares until the book close date i.e. Magh 23, will be eligible for the right shares.

The company will issue 32,89,000 units of the right share. After the issue of the right, the paid-up capital will rise to Rs. 65.78 crores. The applicants can apply for right share until Chaitra 24, 2075.

As of the unaudited second-quarter report of F.Y. 2075/76, the paid-up capital stands at Rs. 32.89 crores. Similarly, reserve & surplus is at Rs. 13.86 crores. The microfinance has loans and advances of  Rs. 3.99 Arab. Also, The company reported a net interest income of Rs. 15.08 crores in this period which is 46.55% more than previous year’s 2nd quarter.

The nonperforming loan stands at 1.87%. Annualized EPS is at Rs. 37.62 as per the 2nd quarter. The cost of the fund has increased slightly to 9.86%. All the financial indicators show good improvement in the second quarter.

The performance of Mero Microfinance till the second quarter is shown in the table below:

Headings 2nd Qtr, F.Y. 2075/76 2nd Qtr, F.Y. 2074/75 % change
Paid up capital(Rs.’crores’) 32.89 26.80 22.72
Reserve and Surplus(Rs.’crores’) 13.86 9.84 40.85
Deposits(Rs.’crores’) 96.00 62.30 54.09
Loans & Advances(Rs.’Arab’) 3.99 2.66 50.00
Net Interest Income(Rs.’crores’) 15.08 10.29 46.55
Net Profit(Rs.’crores’) 6.19 3.45 79.42
Earnings Per Share,EPS(Rs.) 37.62 25.78 45.93
Non Performing Loans,NPL(%) 1.87 1.28 46.09
Cost of fund(%) 9.86 9.59 2.82




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