Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q3 FY24 Earnings Presentation
26 slides from Repco Home Finance's earnings presentation, Feb 12, 2024
Slide 1: Cover letter to stock exchanges
RHFL/SE/75/2023-24 12th February, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai-400001 Bandra (E), Mumbai- 400051 BSE Security Code: 535322 NSE Symbol: REPCOHOME Kind Attn: Listing Departm
Slide 2: Earnings Presentation Q3FY24
Repco Home Finance Limited Earnings Presentation Q3FY24 www.repcohome.com Earnings Presentation February 2024
Slide 3: Agenda
Agenda Repco Home Finance Limited Q3FY24 Performance ► Business summary ► Financial performance ► Borrowing Profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation February 2024 2
Slide 4: Q3FY24 Performance
Repco Home Finance Limited Q3FY24 Performance Earnings Presentation February 2024 3
Slide 5: Business Summary
Business Summary Repco Home Finance Limited Loans Outstanding Net Worth Total Capital Adequacy Rs. 131,855 Mn Rs. 25,699 Mn Ratio 34.7% Average loan per unit Number of live accounts Employee strength Rs. 1.2 Mn 107,191 1,050 GNPA – 4.7% ECL provision – 4.1% Earnings Presentation February 2024 4
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 12,000 ^ 9,662 10,000 ^ 8,597 8,295 8,352 7,971 7,455 7,450 7,768 7,589 8,000 6,962 7,258 6,843 6,000 4,000 2,000 - Q2 Q3 Q4 Q1 Q2 Q3 FY23 FY24 Sanctions Disbursements ^ Includes DA pool purchase of Rs. 665.6 Mn. Earnings
Slide 7: Key Indicators – Q3FY24 vs Q3FY23
Key Indicators – Q3FY24 vs Q3FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q3FY24 7,768 7,589 1,720 4% 9% 18% Q3FY23 7,450 6,962 1,460 Operating Revenue PBT PAT Q3FY24 3,873 1,341 994 18% 23% 23% Q3FY23 3,270 1,089 808 Earnings Presentation Febru
Slide 8: Key Indicators – Q3FY24 vs Q2FY24
Key Indicators – Q3FY24 vs Q2FY24 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q3FY24 7,768 7,589 1,720 -10% -5% 0% Q2FY24 8,597 7,971 1,727 Operating Revenue PBT PAT 3,873 1,341 994 Q3FY24 2% 1% 1% Q2FY24 3,802 1,322 981 Earnings Presentation Februa
Slide 9: Asset Book
Asset Book Repco Home Finance Limited Figures in Rs million Sanctions and Disbursements Loan Book 140,000 129,215 131,855 10,000 121,963 8,597 7,971 7,768 120,000 8,000 7,450 7,589 6,962 100,000 6,000 80,000 4,000 2,000 60,000 - 40,000 Q3FY23 Q2FY24 Q3FY24 20,000 Sanctions Disbursements Q3FY23 Q2FY2
Slide 10: Income and earnings growth
Income and earnings growth Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 4,500 1,900 3,802 3,873 1,727 1,720 4,000 1,700 3,500 3,270 1,460 1,500 3,000 2,500 1,300 2,000 1,100 1,500 900 1,000 500 700 - 500 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Net pro
Slide 11: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee Cost Other Opex 300 200 255 180 170 172 167 242 250 228 160 200 140 120 150 100 80 100 60 50 40 20 0 0 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Cost to Income Ratio 30.0% 25.4% 25.0% 23.2% 22.0% 20.0% 15.0% 10.0% 5.0% 0.0% Q3F
Slide 12: Quarterly Profitability ratios
Quarterly Profitability ratios Repco Home Finance Limited Net Interest Margin Spread 5.5% 5.4% 5.3% 3.6% 3.4% 3.4% 3.4% 3.3% 5.0% 4.8% 3.2% 4.5% 3.0% 2.8% 4.0% 2.6% 3.5% 2.4% 2.2% 3.0% 2.0% Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Return on Equity Return on Assets 18.0% 16.1% 3.5% 15.8% 3.1% 3.1% 1
Slide 13: Asset Quality
Asset Quality Repco Home Finance Limited 7.0% 6.2% 5.8% 5.5% 6.0% 4.9% 4.7% 5.0% 4.0% 3.0% 3.4% 2.2% 2.0% 3.0% 2.8% 1.9% 1.0% 0.0% Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 GNPA NNPA Earnings Presentation February 2024 12
Slide 14: Product / Occupation mix wise GNPA(%)
Product / Occupation mix wise GNPA(%) Repco Home Finance Limited 8.0% 7.5% 7.0% 6.2% 5.8% 6.0% 6.0% 5.2% 4.9% 4.7% 5.0% 4.6% 4.5% 4.0% 3.0% 2.0% 1.0% 0.0% Home Loan Home Equity Overall Q3FY23 Q2FY24 Q3FY24 10.0% 9.1% 9.0% 8.0% 7.2% 6.8% 7.0% 6.2% 6.0% 4.9% 4.7% 5.0% 4.0% 3.1% 3.0% 2.6% 2.5% 2.0% 1.0
Slide 15: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Q3FY23 Q2FY24 Q3FY24 Gross Stage 3 7,503 6,371 6,182 % portfolio in Stage 3 6.2% 4.9% 4.7% ECL provision - Stage 3 3,465 3,655 3,714 Net - Stage 3 4,038 2,716 2,467 Coverage ratio - Stage 3 46.2% 57.4% 60.1% Gross Stage 1 & 2 1,14,460 1,
Slide 16: Borrowing profile
Borrowing profile Repco Home Finance Limited % change Source (Rs Mn) Average cost Q3FY23 Q2FY24 Q3FY24 (Y-o-Y) National Housing Bank 7.59% 15,835 13,152 12,379 -22% Commercial Banks 8.58% 69,207 75,905 80,502 16% Repco Bank 8.15% 10,914 11,412 10,702 -2% Total 8.41% 95,955 1,00,470 1,03,582 72% 76%
Slide 17: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.6% 8.4% 8.4% 8.4% 8.4% 8.4% 8.3% 8.3% 8.3% 8.3% 8.2% 8.2% 8.2% 8.2% 8.2% 8.1% 8.2% 8.2% 8.1% 8.1% 8.0% 8.0% 7.8% 7.8% 7.8% 7.7% 7.6% 7.4% 7.3% 7.3% 7.4% 7.2% 7.0% 6.8% 6.6% Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 N
Slide 18: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation February 2024 17
Slide 19: Network
Network Repco Home Finance Limited Branch Network Present in 12 states and 1 Union Territory with 166 branches and 34 satellite centers. Additionally, we have 2 asset recovery branches. Presence beyond South: branches in West Bengal, Orissa, Maharashtra, Gujarat, Madhya Pradesh & Rajasthan. 5
Slide 20: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Others, 4% Kerala, 3% Gujarat, 3% Telangana, 5% Andhra Pradesh, 6% Maharashtra, 9% Tamil Nadu, 57% Karnataka, 13% Exposure Annualised Growth States Q3FY23 Q2FY24 Q3FY24 Y-o-Y Q-o-Q Tamil Nadu 57% 57% 57% 9% 7% Karnataka 13% 13% 13% 8% 6% Maharashtra 9
Slide 21: Annexure
Repco Home Finance Limited Annexure Earnings Presentation February 2024 20
Slide 22: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 Mn Foreign Major Non-Promoter Shareholders % Portfolio NRIs, 1.6% Others, 1.9% Investors, 13.8% HDFC Mutual Fund 7.2% Alternative Promoters, Aditya Birla Sun Life Mutual Fund 5.1% Investment 37.1% Funds, 1.5% Fidelity Asian Va
Slide 23: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million (Rs. Million) Q3FY24 Q2FY24 QoQ (%) Q3FY23 YoY (%) Income: Revenue from operations 3,873 3,802 2% 3,270 18% Other income 59 38 57% 39 53% Total Income 3,932 3,839 2% 3,309 19% Expenses: Interest and other financial charges 2,
Slide 24: Relative performance – Y-o-Y
Relative performance – Y-o-Y Repco Home Finance Limited Particulars Units Q3FY23 Q3FY24 Sanctions Rs. Mn 7,450 7,768 Disbursements Rs. Mn 6,962 7,589 Net interest income Rs. Mn 1,460 1,720 PAT Rs. Mn 808 994 NIM % 4.8 5.3 Yield on assets % 10.8 11.9 Cost of funds % 7.5 8.4 Spread % 3.3 3.4 Return on
Slide 25: Relative performance – Q-o-Q
Relative performance – Q-o-Q Repco Home Finance Limited Particulars Units Q2FY24 Q3FY24 Sanctions Rs. Mn 8,597 7,768 Disbursements Rs. Mn 7,971 7,589 Net interest income Rs. Mn 1,727 1,720 PAT Rs. Mn 981 994 NIM % 5.4 5.3 Yield on assets % 11.8 11.9 Cost of funds % 8.4 8.4 Spread % 3.4 3.4 Return on
Slide 26: For any queries, please contact
Repco Home Finance Limited For any queries, please contact: Ms.Lakshmi K Chief Financial Officer Repco Home Finance Limited Phone: +91 44 42106650 Email: cfo@repcohome.com Safe Harbor: This presentation may have certain statements that may be “forward looking” including those relating to general bus