Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q2 FY2024 Earnings Presentation
26 slides from Repco Home Finance's earnings presentation, Nov 6, 2023
Slide 1: Exchange submission letter for investor presentation
RHFL/SE/53/2023-24 6th November, 2023 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 Departme
Slide 2: Earnings Presentation Q2FY24
Repco Home Finance Limited Earnings Presentation Q2FY24 www.repcohome.com Earnings Presentation November 2023
Slide 3: Agenda
Agenda Repco Home Finance Limited Q2FY24 Performance ► Business summary ► Financial performance ► Borrowing Profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation November 2023 2
Slide 4: Q2FY24 Performance
Repco Home Finance Limited Q2FY24 Performance Earnings Presentation November 2023 3
Slide 5: Business Summary
Business Summary Repco Home Finance Limited Loans Outstanding Net Worth Total Capital Adequacy Rs. 129,215 Mn Rs. 24,774 Mn Ratio 35.8% Average loan per unit Number of live accounts Employee strength Rs. 1.2 Mn 106,442 967 GNPA – 4.9% ECL provision – 4.1% Earnings Presentation November 2023 4
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 12,000 ^ 9,662 10,000 ^ 8,295 8,352 8,597 7,971 8,000 7,455 7,450 7,258 6,962 6,843 6,000 4,000 2,000 - Q2 Q3 Q4 Q1 Q2 FY23 FY24 Sanctions Disbursements ^ Includes DA pool purchase of Rs. 665.6 Mn. Earnings Presentation
Slide 7: Key Indicators – Q2FY24 vs Q2FY23
Key Indicators – Q2FY24 vs Q2FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q2FY24 8,597 7,971 1,727 4% 7% 19% Q2FY23 8,295 7,455 1,449 Operating Revenue PBT PAT Q2FY24 3,802 1,322 981 19% 39% 38% Q2FY23 3,141 954 712 Earnings Presentation Novembe
Slide 8: Key Indicators – Q2FY24 vs Q1FY24
Key Indicators – Q2FY24 vs Q1FY24 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q2FY24 8,597 7,971 1,727 18% 16% 7% Q1FY24 7,258 6,843 1,619 Operating Revenue PBT PAT 3,802 1,322 981 Q2FY24 4% 10% 10% Q1FY24 3,645 1,198 891 Earnings Presentation Novem
Slide 9: Asset Book
Asset Book Repco Home Finance Limited Figures in Rs million Sanctions and Disbursements Loan Book 1,40,000 1,29,215 10,000 1,26,554 8,295 8,597 1,20,677 7,971 1,20,000 8,000 7,455 7,258 6,843 1,00,000 6,000 80,000 4,000 2,000 60,000 - 40,000 Q2FY23 Q1FY24 Q2FY24 20,000 Sanctions Disbursements Q2FY23
Slide 10: Income and earnings growth
Income and earnings growth Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 4,000 3,645 3,802 1,900 1,727 3,500 3,141 1,700 1,619 3,000 1,500 1,449 2,500 1,300 2,000 1,100 1,500 1,000 900 500 700 - 500 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Net profit Ne
Slide 11: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee Cost Other Opex 300 200 255 180 172 250 237 155 211 160 140 132 200 120 150 100 80 100 60 50 40 20 0 0 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Cost to Income Ratio 25.0% 22.8% 23.2% 22.0% 20.0% 15.0% 10.0% 5.0% 0.0% Q2FY23 Q1
Slide 12: Quarterly Profitability ratios
Quarterly Profitability ratios Repco Home Finance Limited Net Interest Margin Spread 5.5% 5.4% 3.6% 3.4% 5.1% 3.4% 3.3% 3.3% 5.0% 4.9% 3.2% 4.5% 3.0% 2.8% 4.0% 2.6% 2.4% 3.5% 2.2% 3.0% 2.0% Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24 Q2FY24 Return on Equity Return on Assets 18.0% 16.1% 3.5% 15.8% 3.1% 16.0%
Slide 13: Asset Quality
Asset Quality Repco Home Finance Limited 7.0% 6.5% 6.2% 5.8% 5.5% 6.0% 4.9% 5.0% 4.0% 3.0% 3.8% 2.8% 3.4% 2.2% 2.0% 3.0% 1.0% 0.0% Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 GNPA NNPA Earnings Presentation November 2023 12
Slide 14: Product / Occupation mix wise GNPA(%)
Product / Occupation mix wise GNPA(%) Repco Home Finance Limited 10.0% 8.8% 9.0% 8.0% 7.0% 7.0% 6.5% 6.0% 6.0% 6.0% 5.5% 5.0% 4.9% 5.0% 4.6% 4.0% 3.0% 2.0% 1.0% 0.0% Home Loan Home Equity Overall Q2FY23 Q1FY24 Q2FY24 12.0% 10.0% 9.6% 7.9% 8.0% 7.2% 6.5% 6.0% 5.5% 4.9% 4.0% 3.3% 2.8% 2.6% 2.0% 0.0% S
Slide 15: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Q2FY23 Q1FY24 Q2FY24 Gross Stage 3 7,860 6,947 6,371 % portfolio in Stage 3 6.5% 5.5% 4.9% ECL provision - Stage 3 3,386 3,571 3,655 Net - Stage 3 4,474 3,376 2,716 Coverage ratio - Stage 3 43.1% 51.4% 57.4% Gross Stage 1 & 2 1,12,817 1,
Slide 16: Borrowing profile
Borrowing profile Repco Home Finance Limited % change Source (Rs Mn) Average cost Q2FY23 Q1FY24 Q2FY24 (Y-o-Y) National Housing Bank 7.52% 16,813 14,736 13,152 -22% Repco Bank 8.17% 10,382 10,920 11,412 10% Commercial Banks 8.53% 69,159 73,406 75,905 10% Total 8.35% 96,354 99,062 1,00,470 72% 74% 76
Slide 17: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.6% 8.4% 8.4% 8.2% 8.3% 8.2% 8.2% 8.2% 8.3% 8.3% 8.2% 8.1% 8.2% 8.1% 8.0% 8.0% 7.8% 7.8% 7.8% 7.7% 7.7% 7.6% 7.4% 7.4% 7.4% 7.3% 7.3% 7.4% 7.2% 7.3% 7.2% 7.2% 7.0% 6.8% 6.6% 6.4% Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul
Slide 18: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation November 2023 17
Slide 19: Branch Network
Network Repco Home Finance Limited Branch Network Present in 12 states and 1 Union Territory with 166 branches and 33 satellite centers. Additionally, we have 2 asset recovery branches. Presence beyond South: branches in West Bengal, Orissa, Maharashtra, Gujarat, 5 Madhya Pradesh & Rajasthan.
Slide 20: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Kerala, 3% Others, 4% Gujarat, 3% Telangana, 5% Andhra Pradesh, 6% Maharashtra, 9% Tamil Nadu, 57% Karnataka, 13% Exposure Annualised Growth States Q2FY23 Q1FY24 Q2FY24 Y-o-Y Q-o-Q Tamil Nadu 56% 57% 57% 8% 9% Karnataka 13% 13% 13% 8% 7% Maharashtra 1
Slide 21: Annexure
Repco Home Finance Limited Annexure Earnings Presentation November 2023 20
Slide 22: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 Mn Foreign Major Non-Promoter Shareholders % Portfolio NRIs, 1.4% Others, 1.8% Investors, HDFC Mutual Fund 8.7% 15.3% Alternative Investment Promoters, Aditya Birla Sun Life Mutual Fund 5.6% 37.1% Funds, 1.4% Fidelity Asian Va
Slide 23: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million (Rs. Million) Q2FY24 Q2FY23 YoY (%) Q1FY24 QOQ (%) Income: Revenue from operations 3,802 3,141 21% 3,645 4% Other income 38 35 8% 20 86% Total Income 3,839 3,176 21% 3,665 5% Expenses: Interest and other financial charges 2,0
Slide 24: Relative performance – Y-o-Y
Relative performance – Y-o-Y Repco Home Finance Limited Particulars Units Q2FY23 Q2FY24 Sanctions Rs. Mn 8,295 8,597 Disbursements Rs. Mn 7,455 7,971 Net interest income Rs. Mn 1,449 1,727 PAT Rs. Mn 711 981 NIM % 4.9 5.4 Yield on assets % 10.5 11.8 Cost of funds % 7.2 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 Q1FY24 Q2FY24 Sanctions Rs. Mn 7,258 8,597 Disbursements Rs. Mn 6,843 7,971 Net interest income Rs. Mn 1,619 1,727 PAT Rs. Mn 891 981 NIM % 5.1 5.4 Yield on assets % 11.6 11.8 Cost of funds % 8.2 8.4 Spread % 3.3 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