Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q2 FY25 Earnings Presentation
27 slides from Repco Home Finance's earnings presentation, Nov 12, 2024
Slide 1: Stock exchange cover letter
RHFL/SE/61/2024-25 12th November, 2024 National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai-400 051 Mumbai- 400001 NSE Symbol: REPCOHOME BSE Security Code: 535322 Kind Attn: Listing Department Dear Sir/Ma
Slide 2: Earnings Presentation Q2FY25
Repco Home Finance Limited Earnings Presentation Q2FY25 www.repcohome.com Earnings Presentation November 2024
Slide 3: Agenda
Agenda Repco Home Finance Limited Q2FY25 Performance ► Business summary ► Financial performance ► Borrowing Profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation November 2024 2
Slide 4: Q2FY25 Performance
Repco Home Finance Limited Q2FY25 Performance Earnings Presentation November 2024 3
Slide 5: Business Summary
Business Summary Repco Home Finance Limited Loans Outstanding Net Worth Total Capital Adequacy Rs. 139,644 Mn Rs. 28,679 Mn Ratio 33.98% Average loan per unit Number of live accounts Employee strength Rs. 1.27Mn 109,898 1325 GNPA – 3.96% ECL provision – 3.5% Earnings Presentation November 2024 4
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 12,000 10,000 9,777 8,946 9,264 8,597 8,672 7,971 7,768 7,589 8,000 7,258 6,843 7,272 6,804 6,000 4,000 2,000 - Q1 Q2 Q3 Q4 Q1 Q2 FY24 FY25 Sanctions Disbursements Earnings Presentation November 2024 5
Slide 7: Key Indicators – Q2FY25 vs Q2FY24
Key Indicators – Q2FY25 vs Q2FY24 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q2FY25 9,264 8,672 1,757 8% 9% 2% Q2FY24 8,597 1,727 7,971 Operating Revenue PBT PAT Q2FY25 4,153 1,528 1,125 9% 16% 15% Q2FY24 3,802 1,322 981 Earnings Presentation Novem
Slide 8: Key Indicators – Q2FY25 vs Q1FY25
Key Indicators – Q2FY25 vs Q1FY25 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q2FY25 9,264 8,672 1,757 18% 16% 7% Q1FY25 7,272 6,804 1,749 Operating Revenue PBT PAT Q2FY25 4,153 1,528 1,125 4% 10% 10% Q1FY25 4,078 1,366 1,054 Earnings Presentation N
Slide 9: Asset Book
Asset Book Repco Home Finance Limited Figures in Rs million Sanctions and Disbursements Loan Book 160,000 137,011 139,644 10,000 9,264 140,000 129,215 8,597 8,672 7,971 8,000 7,272 6,804 120,000 6,000 100,000 4,000 80,000 2,000 60,000 - 40,000 Q2FY24 Q1FY25 Q2FY25 20,000 Sanctions Disbursements Q2FY
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 4,078 4,153 1,900 3,802 1,727 1,749 1,757 4,000 1,700 3,500 3,000 1,500 2,500 1,300 2,000 1,100 1,500 900 1,000 500 700 - 500 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Net pro
Slide 11: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee Cost Other Opex 350 250 233 291 284 300 255 200 172 250 162 200 150 150 100 100 50 50 0 0 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Cost to Income Ratio 30.0% 26.4% 25.0% 23.2% 23.6% 20.0% 15.0% 10.0% 5.0% 0.0% Q2FY24 Q1FY25 Q2
Slide 12: Quarterly Profitability ratios
Quarterly Profitability ratios Repco Home Finance Limited Net Interest Margin Spread 6.0% 3.6% 3.4% 3.4% 3.4% 5.4% 3.4% 5.5% 5.1% 5.1% 3.2% 5.0% 3.0% 4.5% 2.8% 2.6% 4.0% 2.4% 3.5% 2.2% 3.0% 2.0% Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Return on Equity Return on Assets 18.0% 3.5% 3.3% 16.1% 16.3% 1
Slide 13: Asset Quality
Asset Quality Repco Home Finance Limited 6.0% 4.9% 4.7% 5.0% 4.3% 4.1% 4.0% 4.0% 3.0% 2.0% 1.7% 2.2% 1.6% 1.9% 1.0% 1.5% 0.0% Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 GNPA NNPA Earnings Presentation November 2024 12
Slide 14: Product / Occupation mix wise GNPA(%)
Product / Occupation mix wise GNPA(%) Repco Home Finance Limited 7.0% 6.0% 6.0% 4.9% 5.0% 4.6% 4.4% 4.2% 4.3% 4.0% 3.8% 4.0% 4.0% 3.0% 2.0% 1.0% 0.0% Home Loan Home Equity Overall Q2FY24 Q1FY25 Q2FY25 8.0% 7.2% 7.0% 6.1% 6.0% 5.7% 4.9% 5.0% 4.3% 4.0% 4.0% 3.0% 2.6% 2.3% 2.1% 2.0% 1.0% 0.0% Salaried
Slide 15: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Q2FY24 Q1FY25 Q2FY25 Gross Stage 3* 6,371 5,826 5,524 % portfolio in Stage 3 4.9% 4.3% 3.9% ECL provision - Stage 3 3,655 3,600 3,354 Net - Stage 3* 2,716 2,226 2,170 Coverage ratio - Stage 3 57.4% 61.8% 60.7% Gross Stage 1 & 2* 1,22,844
Slide 16: Stage-wise Movement
Stage-wise Movement Repco Home Finance Limited Figures in Rs. million Sep’23 June'24 Sep’24 Particulars AUM % AUM % AUM % Stage-1 1,06,503 82.42% 1,15,222 84.10% 1,18,812 85.08% Stage-2 16,341 12.65% 15,963 11.65% 15,308 10.96% Stage-3 6,371 4.93% 5,826 4.25% 5,524 3.96% Grand Total 1,29,215 100.00%
Slide 17: Borrowing profile
Borrowing profile Repco Home Finance Limited % change Source (Rs Mn) Average cost Q2FY24 Q1FY25 Q2FY25 (Y-o-Y) National Housing Bank 8.06% 13,152 11,602 10,874 -17% Commercial Banks 8.81% 75,905 87,055 93,280 23% Repco Bank 8.40% 11,412 10,482 10,473 -8% Total 8.70% 1,00,470 1,09,140 1,14,627 75.6%
Slide 18: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.8% 8.7% 8.6% 8.6% 8.6% 8.6% 8.6% 8.6% 8.5% 8.5% 8.5% 8.6% 8.6% 8.5% 8.5% 8.4% 8.4% 8.4% 8.4% 8.4% 8.4% 8.4% 8.3% 8.3% 8.3% 8.3% 8.2% 8.2% 8.2% 8.1% 8.0% 7.8% 7.6% Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-
Slide 19: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation November 2024 17
Slide 20: Network
Network Repco Home Finance Limited Branch Network Present in 12 states and 1 Union Territory with 184 branches and 43 satellite centers. Additionally, we have 2 asset recovery branches. Presence beyond South: branches in West Bengal, Odisha, Maharashtra, Jharkhand, 7 Gujarat, Madhya Pradesh &
Slide 21: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Kerala, 2% Others, 4% Gujarat, 3% Telangana, 5% Andhra Pradesh, 6% Maharashtra, 10% Tamil Nadu, 56% Karnataka, 13% Exposure Annualised Growth States Q2FY24 Q1FY25 Q2FY25 Y-o-Y Q-o-Q Tamil Nadu 56.9% 56.4% 56.4% 7% 8% Karnataka 13.0% 12.9% 12.9% 8% 8%
Slide 22: Annexure
Repco Home Finance Limited Annexure Earnings Presentation November 2024 20
Slide 23: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 Mn Foreign Major Non-Promoter Shareholders % Portfolio NRIs, 1.6% Others, 2.3% Investors, 12.9% HDFC Mutual Fund 6.0% Alternative Investment Promoters, Aditya Birla Sun Life Mutual Fund 5.0% Funds, 1.6% 37.1% Evli Emerging Fro
Slide 24: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million (Rs. Million) Q2FY25 Q1FY25 QOQ (%) Q2FY24 YoY (%) Income: Revenue from operations 4,153 4,078 2% 3,802 9% Other income 127 84 51% 38 239% Total Income 4,280 4,163 3% 3,839 11% Expenses: Interest and other financial charges 2
Slide 25: Relative performance – Y-o-Y
Relative performance – Y-o-Y Repco Home Finance Limited Particulars Units Q2FY24 Q2FY25 Sanctions Rs. Mn 8,597 9,264 Disbursements Rs. Mn 7,971 8,672 Net interest income Rs. Mn 1,727 1,757 PAT Rs. Mn 981 1,125 NIM % 5.4 5.1 Yield on assets % 11.8 12.1 Cost of funds % 8.4 8.8 Spread % 3.4 3.4 Return
Slide 26: Relative performance – Q-o-Q
Relative performance – Q-o-Q Repco Home Finance Limited Particulars Units Q1FY25 Q2FY25 Sanctions Rs. Mn 7,272 9,264 Disbursements Rs. Mn 6,804 8,672 Net interest income Rs. Mn 1,749 1,757 PAT Rs. Mn 1,054 1,125 NIM % 5.1 5.1 Yield on assets % 12.0 12.1 Cost of funds % 8.6 8.8 Spread % 3.4 3.4 Retur
Slide 27: For any queries, please contact
Repco Home Finance Limited For any queries, please contact: Mr. T. Karunakaran Chief Operating Officer Repco Home Finance Limited Phone: +91 44 42106650 Email: coo@repcohome.com Safe Harbor: This presentation may have certain statements that may be “forward looking” including those relating to gener