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Repco Home Finance Limited
Earnings Presentation August 2018
www.repcohome.com
Earnings Presentation
Q1FY19
Repco Home Finance Limited
Earnings Presentation August 2018
Agenda
Q1FY19 Performance
► Business summary…………………………………………….…….
► Financial performance for Q1FY19 ……… ……………………
► Borrowing profile………………..……………….………………….
Geographic Presence
► Footprint.………………………………………………..
► Region-wise loan book.………………………………………….…
Annexure
Repco Home Finance Limited
Earnings Presentation August 2018
Q1FY19 Performance
Repco Home Finance Limited
Earnings Presentation August 2018
• Loans outstanding (June 30, 2018) Rs. 1,00,745 mn
• Net worth (June 30, 2018) Rs. 13,184 mn
• Tier 1 capital adequacy ratio 23.24% (Provisional)
• Average loan per unit Rs. 1.4 mn
• Number of live accounts 84,741
• Current Employee Strength 843
• Gross NPA (%) (June 30, 2018) 3.96%
• Net NPA (%) (June 30, 2018) 2.39%
• Expected credit loss (%) (June 30, 2018) 0.66%
Business Summary
4
Repco Home Finance Limited
Earnings Presentation August 2018
Q1FY19 performance
5%
2,739
2,869
8%
1,056
1,143
9%
560
609
22% 28%
5,4846,198
14%
72,427
82,362
Income from operations Net Interest Income Profit after Tax
Sanctions Disbursements Home loan book
Figures in Rs million
Q1FY18
Q1FY19
Q1FY18
Q1FY19 7,0397,580
5
Repco Home Finance Limited
Earnings Presentation August 2018
Asset book
Loan BookSanctions and disbursements
Mix of loan portfolioLoan book composition
Figures in Rs million
6
6,198
7,580
5,484
7,039
3,000
4,000
5,000
6,000
7,000
8,000
Q1FY18 Q1FY19
Sanctions Disbursements
90,093
1,00,745
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
1,00,000
June'17 June'18
40.0% 42.7%
60.0% 57.3%
0%
20%
40%
60%
80%
100%
June'17 June'18
Salaried Non Salaried
80.4% 81.8%
19.6% 18.2%
0%
20%
40%
60%
80%
100%
June'17 June'18
Home loans Loans against property
Repco Home Finance Limited
Earnings Presentation August 2018
Net interest incomeTotal income
Net worthNet profit
Figures in Rs million
Income and earnings growth
7
2,741 2,872
-
500
1,000
1,500
2,000
2,500
3,000
3,500
Q1FY18 Q1FY19
1,056
1,143
500
600
700
800
900
1,000
1,100
1,200
Q1FY18 Q1FY19
560
609
500
520
540
560
580
600
620
Q1FY18 Q1FY19
11,373
13,184
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
June'17 June'18
Repco Home Finance Limited
Earnings Presentation August 2018
Other opexEmployee cost
Cost to income ratio
Figures in Rs million
Operating cost
8
109
130
0
20
40
60
80
100
120
140
Q1FY18 Q1FY19
59
89
0
20
40
60
80
100
Q1FY18 Q1FY19
15.1%
18.4%
0.0%
5.0%
10.0%
15.0%
20.0%
Q1FY18 Q1FY19
Repco Home Finance Limited
Earnings Presentation August 2018
Net interest margin
Return on equity Return on assets
Profitability ratios
9
Spread
4.7%4.6%
3.0%
3.2%
3.4%
3.6%
3.8%
4.0%
4.2%
4.4%
4.6%
4.8%
Q1FY18 Q1FY19
3.3%3.2%
2.0%
2.2%
2.4%
2.6%
2.8%
3.0%
3.2%
3.4%
Q1FY18 Q1FY19
2.5% 2.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
Q1FY18 Q1FY19
17.4%
19.8%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Q1FY18 Q1FY19
Repco Home Finance Limited
Earnings Presentation August 2018
Gross NPA Net NPA
Asset quality & provisioning
10
Provision coverage ratio
Figures in Rs million
3,571 3,987
3.97% 3.96%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
-
1,000
2,000
3,000
4,000
5,000
June'17 June'18
Gross NPA Gross NPA %
2,396
2,371
2.69%
2.39%
0.40%
0.90%
1.40%
1.90%
2.40%
2.90%
-
500
1,000
1,500
2,000
2,500
3,000
June'17 June'18
Net NPA Net NPA %
32.9%
40.5%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
June'17 June'18
Repco Home Finance Limited
Earnings Presentation August 2018
Asset quality
90+ dpd(%)
11
2.2%2.4%
4.2%
2.6%
4.0%
3.4%3.7%
2.9%
4.0%
1.2% 1.3%
3.1%
1.4%
2.6%
1.9%2.1%
1.3%
2.4%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep'17 Dec'17 Mar'18 June'18
Gross NPA Net NPA
Repco Home Finance Limited
Earnings Presentation August 2018
Mix/Product-wise GNPA (%)
12
1.5%
5.6%
4.0%
1.2%
4.1%
2.9%
1.8%
5.4%
4.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Salaried Non-Salaried Overall
June'18 Mar'18 June'17
3.0%
6.8%
4.0%
2.4%
4.9%
2.9%3.4%
6.4%
4.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Housing Loan LAP Overall
June'18 Mar'18 June'17
Repco Home Finance Limited
Earnings Presentation August 2018
Diversified borrowing profile
Source (Rs mn)Average
costJun'17 Jun'18
% change
National Housing Bank
7.6% 10,536 7,292 -31%
Repco Bank 8.1% 4,946 6,253 26%
Commercial Banks 8.2% 45,089 53,321 18%
NCDs 8.5% 11,570 12,370 7%
CPs 7.9% 3,500 4,000 14%
Total 8.2% 75,641 83,236 10%
*Weighted average cost
13
14% 9%
7%8%
60% 64%
15% 15%
5% 5%
0%
20%
40%
60%
80%
100%
Jun'17 Jun'18
National Housing Bank Repco Bank
Commercial Banks NCDs
CPs
Repco Home Finance Limited
Earnings Presentation August 2018
Geographic Presence
Repco Home Finance Limited
Earnings Presentation August 2018
Footprint
15
Significant presence
Strong presence
Recent expansion
Presence in 11 states and 1 Union Territory
with 140 branches and 23 satellite centers.
Presence beyond South: branches in West
Bengal, Orissa, Maharashtra, Gujarat,
Network Expansion
Strong Presence
Significant Presence
Recent Expansion
Not present yet 5472
88 92
122
142150 156 160 163
30
50
70
90
110
130
150
170
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'18
Ju
n'1
8
Repco Home Finance Limited
Earnings Presentation August 2018
Region-wise loan book
16
Annualized
Exposure
States June'18 Mar'18 June'17YoY
growth
QoQ
growth
Andhra Pradesh 6.8% 6.8% 6.9% 10% 9%
Telangana 4.3% 4.1% 3.8% 26% 27%
Gujarat 2.6% 2.5% 2.2% 37% 37%
Karnataka 13.1% 12.7% 12.2% 20% 23%
Kerala 3.9% 4.0% 3.9% 13% 7%
Maharashtra 7.6% 7.5% 6.7% 28% 20%
Tamil Nadu 58.9% 59.8% 61.8% 7% 4%
Others 2.8% 2.7% 2.5% 23% 20%
Total 100% 100% 100% 12% 10%
Andhra
Pradesh, 6.8%Telangana,
4.3%
Gujarat, 2.6%
Karnataka,
13.1%
Kerala, 3.9%
Maharashtra,
7.6%
Tamil Nadu,
58.9%
Others, 2.8%
Repco Home Finance Limited
Earnings Presentation August 2018
Annexure
Repco Home Finance Limited
Earnings Presentation August 2018
Shareholding pattern
Outstanding shares – 62.56 mn
18
Major non-promoter shareholders %
shareholding
Aditya Birla Sun Life Mutual Fund 7.0%
Franklin Templeton Mutual Fund 6.4%
DSP Blackrock Small Cap Fund 6.2%
Pabrai Investment Funds 5.9%
India Capital Fund Limited 3.4%
Apax Global Alpha Limited 2.1%
HSBC Global Investment Funds 2.1%
Alliance Bernstein India Growth (Mauritius) Limited 1.8%
DSP Blackrock Core Fund 1.1%
Promoter
s, 37.1%
Mutual
Funds,
20.1%
Bodies
Corporat
es, 1.5%
Resident
Individua
ls, 9.8%
Foreign
Portfolio
Investors,
27.5%
NRIs,
1.2%
Others,
2.8%
Repco Home Finance Limited
Earnings Presentation August 2018
Profit and loss statement
(Rs. million) IND AS –Q1
FY19IND AS –Q1
FY18YoY (%)
IGAAP -Q4 FY18
IGAAP -FY18
Income:
Revenue from operations 2,869 2,739 5% 2,832 11,054
Other income 3 2 24% 1 23
Total Income 2,872 2,741 5% 2,833 11,077
Expenses:
Interest and other financial charges 1,684 1,630 3% 1,610 6,483
Employee benefit expense 130 109 19% 120 488
Depreciation and amortization expense 10 8 35% 8 31
Other expenses 79 52 53% 87 262
Provisions & write offs 47 88 -47% 143 670
Total Expenses 1,949 1,885 3% 1,967 7,934
Profit before tax 923 855 8% 866 3,143
Tax expense:
Current tax 274 240 14% 249 1,024
Deferred Tax 39 55 -29% 51 58
Net profit/(loss) 609 560 9% 566 2,061
Other comprehensive income 0 -4 -92% - -
Total comprehensive income609 556 9% 566 2,061
19
Repco Home Finance Limited
Earnings Presentation August 2018
Relative performance – Q1FY19
20
Particulars Units Q1FY18 Q1FY19
Sanctions Rs. Mn 6,198 7,580
Disbursements Rs. Mn 5,484 7,039
Net interest income Rs. Mn 1056 1,143
PAT Rs. Mn 560 609
NIM % 4.7 4.6
Yield on assets % 12.0 11.4
Cost of funds % 8.7 8.2
Spread % 3.3 3.2
Return on assets % 2.5 2.5
Return on equity % 17.4 19.8
Repco Home Finance Limited
Earnings Presentation August 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
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: [email protected]
21