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Repco Home Finance Limited
Earnings Presentation May 2018
www.repcohome.com
Earnings Presentation
Q4FY18
Repco Home Finance Limited
Earnings Presentation May 2018
Agenda
Q4FY18 Performance
► Business summary…………………………………………….…….
► Financial performance for Q4FY18 ……… ……………………
► Borrowing profile………………..……………….………………….
Geographic Presence
► Footprint.………………………………………………..
► Region-wise loan book.………………………………………….…
Annexure
Repco Home Finance Limited
Earnings Presentation May 2018
Q4FY18 & FY18 Performance
Repco Home Finance Limited
Earnings Presentation May 2018
• Loans outstanding (Mar 31, 2018) Rs. 98,568 mn
• Net worth (Mar 31, 2018) Rs. 12,535 mn
• Tier 1 capital adequacy ratio 23.04%
• Average loan per unit Rs. 1.4 mn
• Number of live accounts 82,948
• Current Employee Strength 785
• Gross NPA (%) (Mar 31, 2018) 2.87%
• Net NPA (%) (Mar 31, 2018) 1.29%
Business Summary
4
Repco Home Finance Limited
Earnings Presentation May 2018
Q4FY18 Performance
4%
2,735
2,832
13%
1,029
1,164
12%
506
566
13%
71,340
80,264
32%
6,976
9,225
28%
6,645
8,487
Income from operations Net Interest Income Profit after Tax
Home Loans Sanctions Disbursements
Figures in Rs million
Q4FY17
Q4FY18
Q4FY17
Q4FY18
5
Repco Home Finance Limited
Earnings Presentation May 2018
FY18 performance
6%
10,442
11,054
17%
3,678
4,286
13%
1,823
2,061
10%
89,399
98,568
7%
28,758
30,793
6%
26,424
28,065
Income from Operations Net Interest Income Net Profit
Loan Book Sanctions Disbursements
Figures in Rs million
FY17
FY18
FY17
FY18
6
Repco Home Finance Limited
Earnings Presentation May 2018
Relative performance – Q4FY18
7
Particulars Units Q4FY17 Q3FY18 Q4FY18
Sanctions Rs. Mn 6,976 7,725 9,225
Disbursements Rs. Mn 6,645 6,571 8,487
Net interest income Rs. Mn 1,029 1,071 1,164
PAT Rs. Mn 506 485 566
NIM % 4.7 4.6 4.8
Yield on assets % 12.1 11.5 11.5
Cost of funds % 8.7 8.3 8.0
Spread % 3.4 3.2 3.4
Cost to income ratio % 18.2 18.9 17.5
Return on assets % 2.3 2.1 2.3
Return on equity % 19.1 16.5 18.5
Repco Home Finance Limited
Earnings Presentation May 2018
Asset book
Loan BookSanctions and disbursements
Mix of loan portfolioLoan book composition
Figures in Rs million
8
28,75830,793
26,424 28,065
3,000
8,000
13,000
18,000
23,000
28,000
33,000
FY17 FY18Sanctions Disbursements
89,399
98,568
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
1,00,000
Mar'17 Mar'18
39.8% 42.9%
60.2% 57.1%
0%
20%
40%
60%
80%
100%
Mar'17 Mar'18
Salaried Non Salaried
79.8% 81.4%
20.2% 18.6%
0%
20%
40%
60%
80%
100%
Mar'17 Mar'18
Home loans Loans against property
Repco Home Finance Limited
Earnings Presentation May 2018
Net interest incomeTotal income
Net worthNet profit
Figures in Rs million
Income and earnings growth
9
10,459 11,077
-
2,000
4,000
6,000
8,000
10,000
12,000
FY17 FY18
3,678
4,286
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
FY17 FY18
1,823
2,061
500
700
900
1,100
1,300
1,500
1,700
1,900
2,100
2,300
FY17 FY18
10,833
12,535
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
Mar'17 Mar'18
Repco Home Finance Limited
Earnings Presentation May 2018
Other opexEmployee cost
Cost to income ratio
Figures in Rs million
Operating cost
10
431
488
0
100
200
300
400
500
600
FY17 FY18
245
293
0
50
100
150
200
250
300
350
FY17 FY18
16.9% 17.0%
0.0%
5.0%
10.0%
15.0%
20.0%
FY17 FY18
Repco Home Finance Limited
Earnings Presentation May 2018
Net interest margin
Return on equity Return on assets
Profitability ratios
11
Spread
4.4%
4.6%
3.0%
3.2%
3.4%
3.6%
3.8%
4.0%
4.2%
4.4%
4.6%
4.8%
FY17 FY18
3.1%
3.2%
2.0%
2.2%
2.4%
2.6%
2.8%
3.0%
3.2%
3.4%
FY17 FY18
2.2% 2.2%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
FY17 FY18
18.2% 17.6%
0.0%
5.0%
10.0%
15.0%
20.0%
FY17 FY18
Repco Home Finance Limited
Earnings Presentation May 2018
Gross NPA Net NPA
Asset quality & provisioning
12
Provision coverage ratio
Figures in Rs million
2,328 2,827
2.60% 2.87%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
-
500
1,000
1,500
2,000
2,500
3,000
Mar'17 Mar'18
Gross NPA Gross NPA %
1,227 1,255
1.39%
1.29%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
-
200
400
600
800
1,000
1,200
1,400
Mar'17 Mar'18
Net NPA Net NPA %
47.3%
55.6%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
60.0%
Mar'17 Mar'18
Note – Rs. 340 Mn of loans outstanding backed by repossessed
collateral assets is included in the aforementioned Mar’18
GNPA amount. Details of the pool –
Average ticket size – Rs. 2.2 mn
LTV – 56%
Provision carried in BS – 100%
The aforementioned amount EXCLUDES loans outstanding
backed by repossessed collateral assets but part of the pool
technically written off during Q4FY18.
Repco Home Finance Limited
Earnings Presentation May 2018
Asset quality
90+ dpd(%)
13
1.3%
2.2%2.4%
4.2%
2.6%
4.0%
3.4%3.7%
2.9%
0.5%
1.2% 1.3%
3.1%
1.4%
2.6%
1.9%2.1%
1.3%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep'17 Dec'17 Mar'18
Gross NPA Net NPA
Repco Home Finance Limited
Earnings Presentation May 2018
Mix/Product-wise GNPA (%)
14
1.2%
4.1%
2.9%
1.7%
5.1%
3.7%
1.3%
3.4%
2.6%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Salaried Non-Salaried Overall
Mar'18 Dec'17 Mar'17
2.4%
4.9%
2.9%3.2%
5.9%
3.7%
2.3%
3.9%
2.6%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
Housing Loan LAP Overall
Mar'18 Dec'17 Mar'17
Repco Home Finance Limited
Earnings Presentation May 2018
Diversified borrowing profile
15
Source (Rs mn) Cost* Mar'17 Mar'18 % change
National Housing Bank 7.6% 11,701 9,423 -19%
Repco Bank 8.2% 4,981 6,227 25%
Commercial Banks 8.3% 47,572 44,350 -7%
NCDs 8.5% 7,850 13,370 70%
CPs 7.9% 3,500 8,000 129%
Total 8.18% 75,604 81,370 8%
*Weighted average cost as on the Balance Sheet date
15% 12%
7% 8%
63%55%
10%16%
5% 10%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Mar'17 Mar'18
National Housing Bank Repco Bank
Commercial Banks NCDs
CPs
Repco Home Finance Limited
Earnings Presentation May 2018
Geographic Presence
Repco Home Finance Limited
Earnings Presentation May 2018
Footprint
17
Significant presence
Strong presence
Recent expansion
Presence in 11 states and 1 Union Territory
with 131 branches and 29 satellite centers.
Presence beyond South: branches in West
Bengal, Orissa, Maharashtra, Gujarat,
Madhya Pradesh and Jharkhand.
Network Expansion
Strong Presence
Significant Presence
Recent Expansion
Not present yet
54
72
88 92
122
142150 156 160
30
50
70
90
110
130
150
Ma
r'10
Ma
r'11
Ma
r'12
Ma
r'13
Ma
r'14
Ma
r'15
Ma
r'16
Ma
r'17
Ma
r'1
8
Repco Home Finance Limited
Earnings Presentation May 2018
Region-wise loan book
18
Annualized
Exposure
States Mar'18 Dec'17 Mar'17YoY
growth
QoQ
growth
Andhra Pradesh 6.8% 6.8% 7.0% 7% 14%
Telangana 4.1% 4.0% 3.7% 24% 28%
Gujarat 2.5% 2.4% 2.1% 30% 37%
Karnataka 12.7% 12.2% 12.2% 14% 29%
Kerala 4.0% 3.9% 3.8% 15% 17%
Maharashtra 7.5% 7.2% 6.4% 29% 28%
Tamil Nadu 59.8% 60.7% 62.2% 6% 9%
Others 2.7% 2.6% 2.6% 13% 25%
Total 100% 100% 100% 10% 15%
Andhra
Pradesh, 6.8% Telangana,
4.1%
Gujarat, 2.5%
Karnataka,
12.7%
Kerala, 4.0%
Maharashtra,
7.5%
Tamil Nadu,
59.8%
Others, 2.7%
Repco Home Finance Limited
Earnings Presentation May 2018
Annexure
Repco Home Finance Limited
Earnings Presentation May 2018
Shareholding pattern
Outstanding shares – 62.56 mn
20
Major non-promoter shareholders
%
shareholdin
g
Aditya Birla Sun Life Mutual Fund 7.2%
Franklin Templeton Mutual Fund 7.2%
DSP Blackrock Mutual Fund 6.2%
India Capital Fund Limited 3.4%
Parvest Equity India 1.2%
HSBC Global Investment Funds - Asia Ex Japan 2.1%
Alliance Bernstein India Growth (Mauritius) Limited 1.8%
Apax Global Alpha Fund 2.1%
Sundaram Mutual Fund 1.4%
DSP Blackrock Core Fund 1.1%
Promoters,
37.1%
Mutual
Funds,
24.2%
Bodies
Corporates,
1.9%
Resident
Individuals,
10.0%
Foreign
Portfolio
Investors,
23.1%
NRIs, 1.6%
Others,
2.1%
Repco Home Finance Limited
Earnings Presentation May 2018
Profit and loss statement
(Rs. million) Q4 FY18 Q4 FY17 YoY (%) Q3
FY18QOQ (%) FY18 FY17 YoY (%)
Income:
Revenue from operations 2,832 2,735 4% 2,775 2% 11,054 10,442 6%
Other income 1 1 -41% 1 -35% 23 17 35%
Total Income 2,833 2,737 4% 2,776 2% 11,077 10,459 6%
Expenses:
Interest and other financial charges 1,610 1,635 -2% 1,623 -1% 6,483 6,463 0%
Employee benefit expense 120 129 -7% 138 -13% 488 431 13%
Depreciation and amortization expense 8 11 -31% 7 6% 31 36 -13%
Other expenses 87 60 45% 72 20% 262 209 26%
Provision for non-performing assets -28 103 -128% 189 -115% 471 460 2%
Contingency provisions against standard assets
21 13 55% 3 671% 42 53 -22%
Bad-debts written off 151 0 100% 2 158 5
Total Expenses 1,967 1,951 1% 2,035 -3% 7,934 7,657 4%
Profit before tax 866 786 10% 741 17% 3,143 2,802 12%
Tax expense:
Current tax 249 235 6% 260 -4% 1,024 940 9%
Deferred Tax 51 45 12% -3 58 39 48%
Net Profit/(Loss) 566 506 12% 485 17% 2,061 1,823 13%
Note – Amount written-off in Q4FY18 includes technically written-off accounts amounting to Rs. 148 mn (100% provided for)
21
Repco Home Finance Limited
Earnings Presentation May 2018
Balance sheet
(Rs. million) As on Mar 31, 2018 As on Mar 31, 2017
EQUITY AND LIABILITIES:
Shareholder's Funds 13,283 11,372
Share Capital 626 626
Reserves and Surplus 12,657 10,747
Non-Current Liabilities 53,514 57,612
Long-term borrowings 50,901 55,316
Deferred Tax Liabilities (Net) 497 439
Other long term liablities 89 345
Long term provisions 2,027 1,511
Current Liabilities 32,950 21,445
Short-term borrowings 15,263 9,217
Other current liabilities 17,591 12,092
Short-term provisions 96 136
Total 99,747 90,429
ASSETS:
Non-current assets 92,592 84,063
Fixed assets
Tangible assets 123 71
Intangible assets 12 20
Non-current investments 156 156
Long term loans and advances 92,281 83,816
Other non current assets 21 0
Current assets 7,154 6,366
Cash and Bank Balances 259 225
Short-term loans and advances 6,378 5,724
Other current assets 517 417
Total 99,747 90,429
22
Repco Home Finance Limited
Earnings Presentation May 201823
Particulars Units FY17 FY18
Outstanding Loan Book Rs. Mn 89,399 98,568
Sanctions Rs. Mn 28,758 30,793
Disbursements Rs. Mn 26,424 28,065
Net Interest Income Rs. Mn 3,678 4,286
PAT Rs. Mn 1,823 2,061
Yield on assets % 12.2 11.6
Cost of funds % 9.1 8.4
Spread % 3.1 3.2
Net interest margin % 4.4 4.6
Cost to income ratio % 16.9 17.0
Return on assets % 2.2 2.2
Return on equity % 18.2 17.6
Key metrics and relative performance – FY18
Repco Home Finance Limited
Earnings Presentation May 2018
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
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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
24
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