Earnings Presentation Q3FY19 - Repco Home Earnings...Earnings Presentation February 2019 For any Investor Relations queries, please contact: This presentation may have certain statements
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Repco Home Finance Limited
Earnings Presentation February 2019
www.repcohome.com
Earnings Presentation
Q3FY19
Repco Home Finance Limited
Earnings Presentation February 2019
Agenda
Q3FY19 Performance
► Business summary…………………………………………….…….
► Financial performance for Q3FY19 ……………………………
► Borrowing profile………………..……………….………………….
Geographic Presence
► Footprint.………………………………………………..
► Region-wise loan book.………………………………………….…
Annexure
Repco Home Finance Limited
Earnings Presentation February 2019
Q3FY19 Performance
Repco Home Finance Limited
Earnings Presentation February 2019
• Loans outstanding (Dec 31, 2019) Rs. 1,06,668 mn
• Net worth (Dec 31, 2019) Rs. 14,687 mn
• Tier 1 capital adequacy ratio 24.2% (Provisional)
• Average loan per unit Rs. 1.4 mn
• Number of live accounts 89,212
• Current Employee Strength 925
• Gross NPA (%) (Dec 31, 2019) 3.9%
• Expected credit loss (%) (Dec 31, 2019) 0.8%
Business Summary
4
Repco Home Finance Limited
Earnings Presentation February 2019
Q3FY19 performance
4%
7,725
8,052
12%
6,571
7,332
31%
424
556
6% 23%
35,11358,715
12%
94,904
1,06,668
Sanctions Disbursements Profit after tax
TN & Pondicherry book Rest of India book Overall loan book
Figures in Rs million
Q3FY18
Q3FY19
Q3FY18
Q3FY19 43,02362,508
5
Repco Home Finance Limited
Earnings Presentation February 2019
9MFY19 performance
6%
8,324
8,815
4%
3,285
3,410
9%
1,684
1,831
11% 13%
19,57921,567
12%
94,904
1,06,668
Operating Income Net Interest Income Profit after Tax
Sanctions Disbursements Loan book
Figures in Rs million
9MFY18
9MFY19
9MFY18
9MFY19 22,13723,972
6
Repco Home Finance Limited
Earnings Presentation February 2019
Trends in sanctions and disbursements
Figures in Rs million
7
4,403
5,243
6,290
4,537
7,7258,052
4,427 4,750
5,974
5,018
6,571
7,332
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
Q3FY14 Q3FY15 Q3FY16 Q3FY17 Q3FY18 Q3FY19
Sanctions Disbursements
Business performance strong even amid sticky State specific factors and pervasive liquidity
crisis.
Repco Home Finance Limited
Earnings Presentation February 2019
Asset book
Loan BookSanctions and disbursements
Mix of loan portfolioLoan book composition
Figures in Rs million
8
21,56723,972
19,57922,137
3,000
8,000
13,000
18,000
23,000
28,000
9MFY18 9MFY19
Sanctions Disbursements
94,904
1,06,668
20,000
40,000
60,000
80,000
1,00,000
Dec'17 Dec'18
40.8% 44.9%
59.2% 55.1%
0%
20%
40%
60%
80%
100%
Dec'17 Dec'18
Salaried Non Salaried
81.1% 81.6%
18.9% 18.4%
0%
20%
40%
60%
80%
100%
Dec'17 Dec'18
Home loans Loans against property
Repco Home Finance Limited
Earnings Presentation February 2019
Net interest incomeTotal income
Net worthNet profit
Figures in Rs million
Income and earnings growth
9
8,351 8,871
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
9MFY18 9MFY19
3,285 3,410
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
9MFY18 9MFY19
1,684
1,831
500
700
900
1,100
1,300
1,500
1,700
1,900
9MFY18 9MFY19
11,448
14,687
5,000
7,000
9,000
11,000
13,000
15,000
17,000
Dec'17 Dec'18
Net worth
amount is per
IND AS and
provisional in
nature
Repco Home Finance Limited
Earnings Presentation February 2019
Other opexEmployee cost
Cost to income ratio
Figures in Rs million
Operating cost
10
373
415
0
50
100
150
200
250
300
350
400
450
9MFY18 9MFY19
200
293
0
50
100
150
200
250
300
350
9MFY18 9MFY19
16.5%
19.7%
0.0%
5.0%
10.0%
15.0%
20.0%
9MFY18 9MFY19
Repco Home Finance Limited
Earnings Presentation February 2019
Net interest margin
Return on equity Return on assets
Profitability ratios
11
Spread
4.7%
4.4%
3.0%
3.2%
3.4%
3.6%
3.8%
4.0%
4.2%
4.4%
4.6%
4.8%
9MFY18 9MFY19
3.3%
3.0%
2.0%
2.2%
2.4%
2.6%
2.8%
3.0%
3.2%
3.4%
9MFY18 9MFY19
2.4% 2.4%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
9MFY18 9MFY19
18.7% 18.7%
0.0%
5.0%
10.0%
15.0%
20.0%
9MFY18 9MFY19
Repco Home Finance Limited
Earnings Presentation February 2019
Asset quality
90+ dpd(%)
12
4.2%
2.6%
4.0%
3.4%
3.7%
2.9%
4.0%
3.6%
3.9%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
Dec-16 Mar-17 Jun-17 Sep'17 Dec'17 Mar'18 June'18 Sep'18 Dec'18
Gross NPA
Repco Home Finance Limited
Earnings Presentation February 2019
Mix/Product-wise GNPA (%)
13
1.5%
5.8%
3.9%
1.4%
5.3%
3.6%
1.7%
5.1%
3.7%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
Salaried Non-Salaried Overall
Dec'18 Sep'18 Dec'17
3.2%
6.8%
3.9%
2.9%
6.2%
3.6%3.2%
5.9%
3.7%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Housing Loan LAP Overall
Dec'18 Sep'18 Dec'17
Repco Home Finance Limited
Earnings Presentation February 2019
Diversified borrowing profile
Source (Rs mn)Average
cost*Dec'17 Dec'18
%
change
National Housing Bank 7.5% 9,979 6,471 -35%
Repco Bank 8.2% 6,199 7,015 13%
Commercial Banks 8.6% 42,903 66,906 56%
NCDs 8.3% 14,370 8,870 -38%
CPs N.A 5,500 0 -100%
Total 8.5% 78,952 89,261 13%
Note –
1.The company has executed necessary documents with NHB earlier this month pertaining to the refinance line of Rs. 5,000 mnsanctioned by the latter during Q2FY19 and should be in a position to make a drawdown on the aforementioned line in Q4FY19.
2. *Weighted average cost as at the BS date.
14
13% 7%
8%8%
54%75%
18%
10%7%
0%
20%
40%
60%
80%
100%
Dec'17 Dec'18
National Housing Bank Repco Bank
Commercial Banks NCDs
CPs
Repco Home Finance Limited
Earnings Presentation February 2019
Geographic Presence
Repco Home Finance Limited
Earnings Presentation February 2019
Footprint
16
Significant presence
Strong presence
Recent expansion
Presence in 11 states and 1 Union Territory
with 143 branches and 24 satellite centers.
Presence beyond South: branches in West
Bengal, Orissa, Maharashtra, Gujarat and
Madhya Pradesh.
Network Expansion
Strong Presence
Significant Presence
Recent Expansion
Not present yet
Repco Home Finance Limited
Earnings Presentation February 2019
Region-wise loan book
Annualized
Andhra Pradesh, 6.6%Telangana, 4.5%
Gujarat, 3.0%
Karnataka,
13.5%
Kerala, 3.8%
Maharashtra, 8.1%
Tamil Nadu,
57.6%
Others,
2.9%
7
Exposure
States Dec'18 Sep'18 Dec'17YoY growth
QoQgrowth
Andhra Pradesh 6.6% 6.7% 6.8% 9% 4%
Telangana 4.5% 4.4% 4.0% 27% 22%
Gujarat 3.0% 2.8% 2.4% 45% 42%
Karnataka 13.5% 13.3% 12.2% 24% 17%
Kerala 3.8% 3.8% 3.9% 7% 3%
Maharashtra 8.1% 7.8% 7.2% 25% 23%
Tamil Nadu 57.6% 58.4% 60.7% 6% 5%
Others 2.9% 2.6% 2.6% 24% 58%
Total 100% 100% 100% 12% 11%
Repco Home Finance Limited
Earnings Presentation February 2019
Annexure
Repco Home Finance Limited
Earnings Presentation February 2019
Shareholding pattern
Outstanding shares – 62.56 mn
19
Major non-promoter shareholders %
shareholding
Aditya Birla Mutual Fund 7.1%
Franklin Templeton Mutual Fund 6.8%
India Capital Fund Limited 5.5%
DSP Mutual Fund 5.0%
HDFC Mutual Fund 4.2%
Apax Global Fund 2.1%
Alliance Bernstein Holding 3.1%
DSP Core Fund 1.1%
Promoters,
37.1%
Mutual
Funds,
24.9%
Bodies
Corporate
s, 1.7%
Resident
Individuals,
10.4%
Foreign
Portfolio
Investors,
21.4%
NRIs, 1.6%
Others,
2.9%
Repco Home Finance Limited
Earnings Presentation February 2019
Profit and loss statement
20
Particulars Q3FY19 Q3FY18YoY (%) Q2FY19 QOQ (%) 9MFY19 9MFY18 YoY (%)
Income:
Revenue from operations 3,037 2,743 11% 2,909 4% 8,815 8,324 6%
Other income 2 3 -39% 51 -97% 56 26 111%
Total Income 3,039 2,746 11% 2,960 3% 8,871 8,351 6%
Expenses:
Interest and other financial charges 1,848 1,621 14% 1,755 5% 5,286 4,877 8%
Employee benefit expense 147 138 7% 138 7% 415 373 11%
Depreciation and amortization expense 12 7 63% 15 -17% 37 23 61%
Other expenses 94 72 29% 83 12% 256 177 44%
Provisions & write-offs 182 265 -31% -35 -627% 194 345 -44%
Total Expenses 2,282 2,103 9% 1,956 17% 6,187 5,795 7%
Profit before tax 757 642 18% 1,004 -25% 2,684 2,556 5%
Tax expense:
Current tax 247 261 -5% 268 -8% 789 774 2%
Deferred Tax -46 -43 9% 70 -166% 63 98 -35%
Net Profit/(Loss) 556 424 31% 666 -16% 1,831 1,684 9%
Other Comprehensive Income 2 -1 -381% 4 -52% 5 2 206%
Total Comprehensive Income 558 423 32% 670 -17% 1,836 1,686 9%
Figures in Rs million
Repco Home Finance Limited
Earnings Presentation February 2019
Relative performance – Q3FY19
21
Particulars Units Q3FY18 Q3FY19
Sanctions Rs. Mn 7,725 8,052
Disbursements Rs. Mn 6,571 7,332
Net interest income Rs. Mn 1,115 1,065
PAT Rs. Mn 424 556
NIM % 4.5 4.4
Yield on assets % 11.4 11.4
Cost of funds % 8.3 8.4
Spread % 3.2 3.0
Return on assets % 1.8 2.1
Return on equity % 13.9 15.4
Repco Home Finance Limited
Earnings Presentation February 2019
Relative performance – 9MFY19
22
Particulars Units 9MFY18 9MFY19
Sanctions Rs. Mn 21,567 23,972
Disbursements Rs. Mn 19,579 22,137
Net interest income Rs. Mn 3,285 3,410
PAT Rs. Mn 1,684 1,831
NIM % 4.7 4.4
Yield on assets % 11.8 11.3
Cost of funds % 8.5 8.3
Spread % 3.3 3.0
Return on assets % 2.4 2.4
Return on equity % 18.7 18.7
Repco Home Finance Limited
Earnings Presentation February 2019
For any Investor Relations queries, please contact:
This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of Repco
Home Finance Ltd., (RHFL), its future outlook and growth prospects. The actual results may differ materially from these forward looking statements due
to a number of risks and uncertainties which could include future changes or developments in RHFL, the competitive environment, the company’s
ability to implement its strategies and initiatives, respond to technological changes as well as sociopolitical, economic and regulatory conditions in
India.
All financial data in this presentation is obtained from the audited financial statements and the various ratios are calculated based on these data. This
presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, invitation or a solicitation of any offer, to
purchase or sell, any shares of RHFL and should not be considered or construed in any manner whatsoever as a recommendation that any person
should subscribe for or purchase any of RHFL’s shares. None of the projection, expectations, estimates or prospects in this presentation should be
construed as a forecast implying any indicative assurance or guarantee of future performance, nor that the assumptions on which such future
projects, expectations, estimates or prospects have been prepared are complete or comprehensive .
This presentation is for information purposes only. This document and its contents should not forwarded or delivered or transmitted in any manner to
any person other than its intended recipients, and should not be reproduced in any manner whatsoever. The recipients further represents and
warrants that : (i) It is lawfully able to receive this presentation under the laws of the jurisdiction in which it is located, and / or any other applicable
laws, (ii) It is not a U.S. person, (iii) This presentation is furnished to it, and has been received, outside of the United States, and (iv) It will not reproduce,
publish, disclose, redistribute or transmit this presentation, directly or indirectly, into the United States or to any U.S. person either within or outside of
recipient’s organisation.
Safe Harbor:
Bala S , Investor RelationsRepco Home Finance LimitedPhone: +91 44 42106650 Email: bala@repcohome.com
23
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