Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q3 FY23 Earnings Presentation
25 slides from Repco Home Finance's earnings presentation, Feb 13, 2023
Slide 1: Exchange filing cover letter for investor presentation
RHFL/SE/71/2022-23 13th February, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, 26th Floor, Dalal Street, Bandra Kurla Complex, Mumbai-400001 Bandra (E), Mumbai- 400051 BSE Security Code: 535322 NSE Symbol: REPCOHOME Kind Attn: Lis
Slide 2: Earnings Presentation Q3FY23
Repco Home Finance Limited Earnings Presentation Q3FY23 www.repcohome.com Earnings Presentation February 2023
Slide 3: Agenda
Agenda Repco Home Finance Limited Q3FY23 Performance ► Business summary ► Financial performance ► Borrowing profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation February 2023
Slide 4: Q3FY23 Performance
Repco Home Finance Limited Q3FY23 Performance Earnings Presentation February 2023
Slide 5: Business summary
Business summary Repco Home Finance Limited Loans outstanding - Net worth Total capital adequacy ratio Rs. 1,21,963 mn Rs. 22,407 mn 36.7% Average loan per unit Number of live accounts Employee strength - 958 Rs. 1.2 mn 1,03,932 GNPA – 6.2% ECL provision(%)- 4.2% Earnings Presentation February 202
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 9,000 8,295 8,000 7,455 7,450 6,909 6,962 7,000 6,520 6,422 6,012 6,000 4,943 5,000 4,439 4,000 3,000 2,000 1,000 - Q3 Q4 Q1 Q2 Q3 FY23 Sanctions Disbursements Note – The Company did not acquire any loan pool during Q3FY2
Slide 7: Key indicators – Q3FY23 vs Q3FY22
Key indicators – Q3FY23 vs Q3FY22 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net interest income Q3FY23 7,450 6,962 1,460 51% 57% 2% Q3FY22 4,943 4,439 1,492 Operating revenue PBT PAT Q3FY23 3,270 1,089 808 2% 155% 157% Q3FY22 3,219 427 315 6 Earnings Presentation Feb
Slide 8: Asset book
Asset book Repco Home Finance Limited Figures in Rs million Sanctions and disbursements Loan Book 25,000 22,653 1,40,000 1,17,857 1,21,963 20,839 1,20,000 20,000 1,00,000 15,000 12,208 11,676 80,000 10,000 60,000 5,000 40,000 0 20,000 9M FY22 9M FY23 Dec'21 Dec'22 Sanctions Disbursements Loan book c
Slide 9: Income and earnings growth
Income and earnings growth Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 12,000 5,000 4,500 9,719 4,500 4,280 10,000 9,434 4,000 8,000 3,500 3,000 6,000 2,500 4,000 2,000 1,500 2,000 1,000 - 500 9M FY22 9M FY23 9M FY22 9M FY23 Net profit Net worth 2,500
Slide 10: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee cost Other opex 700 642 500 438 450 600 556 400 500 350 317 300 400 250 300 200 200 150 100 100 50 0 0 9M FY22 9M FY23 9M FY22 9M FY23 Cost to income ratio 30.0% 24.5% 25.0% 19.0% 20.0% 15.0% 10.0% 5.0% 0.0% 9M FY22 9M FY23 9 E
Slide 11: Profitability ratios
Profitability ratios Repco Home Finance Limited Net interest margin Spread 5.5% 4.0% 3.8% 5.0% 5.0% 4.8% 3.5% 3.4% 4.5% 3.0% 4.0% 2.5% 3.5% 3.0% 2.0% 9M FY22 9M FY23 9M FY22 9M FY23 Return on equity Return on assets 16.0% 2.5% 2.4% 14.0% 13.3% 2.0% 12.0% 1.7% 10.1% 10.0% 1.5% 8.0% 6.0% 1.0% 4.0% 0.5
Slide 12: Asset quality
Asset quality Repco Home Finance Limited 8.0% 7.0% 7.0% 6.4% 6.5% 6.2% 6.0% 5.0% 4.0% 4.9% 3.4% 4.2% 3.0% 3.8% 2.0% 1.0% 0.0% Mar-22 Jun-22 Sep-22 Dec-22 GNPA NNPA 11 Earnings Presentation February 2023
Slide 13: Product mix / Occupation wise GNPA(%)
Product mix / Occupation wise GNPA(%) Repco Home Finance Limited 10.0% 8.8% 9.0% 8.0% 7.5% 6.8% 6.5% 7.0% 6.2% 6.0% 5.8% 6.0% 5.0% 4.6% 4.1% 4.0% 3.0% 2.0% 1.0% 0.0% Housing Loan LAP Overall Dec'21 Sep'22 Dec'22 12.0% 10.0% 9.6% 9.1% 8.0% 6.9% 6.5% 6.2% 6.0% 4.6% 4.0% 3.3% 3.1% 2.2% 2.0% 0.0% Salari
Slide 14: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Dec’21 Sep’22 Dec’22 Gross Stage 3 8,233 7,860 7,503 % portfolio in Stage 3 7.0% 6.5% 6.2% ECL provision - Stage 3 2,477 3,386 3,465 Net - Stage 3 5,756 4,474 4,038 Coverage ratio - Stage 3 30.1% 43.1% 46.2% Gross Stage 1 & 2 1,09,623 1,
Slide 15: Borrowing profile
Borrowing profile Repco Home Finance Limited Average cost % change Source (Rs mn) Dec'21 Sep'22 Dec'22 (Dec'22) (Y-o-Y) National Housing Bank 6.73% 18,588 16,813 15,835 -15% Repco Bank 7.65% 10,308 10,382 10,914 6% Commercial Banks 7.89% 67,222 69,159 69,206 3% Total 7.67% 96,118 96,354 95,955 72% 7
Slide 16: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 9.0% 8.0% 7.7% 7.4% 7.4% 7.1% 7.1% 7.1% 7.1% 7.1% 7.2% 7.2% 7.0% 7.0% 7.0% 7.0% 6.0% 5.0% 4.0% 7.1% 7.0% 7.0% 7.1% 7.1% 7.2% 7.2% 7.2% 7.3% 6.9% 6.9% 6.6% 3.0% 6.1% 2.0% 1.0% 0.0% Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep
Slide 17: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation February 2023
Slide 18: Network
Network Repco Home Finance Limited Present in 12 states and 1 Union Territory with Branch network 160 branches and 25 satellite centers. Additionally, we have 2 asset recovery branches. Presence beyond South: branches in West Bengal, Orissa, Maharashtra, Gujarat, Madhya Pradesh & Rajasthan. 5
Slide 19: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Gujarat, 3.3% Kerala, 2.8% Others, 4.0% Telangana, 5.0% Andhra Pradesh, 6.0% Maharashtra, Tamil Nadu, 9.5% 56.4% Karnataka, 12.9% Annualized Exposure YoY QoQ States Dec'21 Sep'22 Dec'22 growth growth Kerala 3.0% 2.9% 2.8% -3% -3% Gujarat 3.7% 3.4% 3.3
Slide 20: Annexure
Repco Home Finance Limited Annexure Earnings Presentation February 2023
Slide 21: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 mn Major non-promoter shareholders % Foreign HDFC Mutual Fund 6.7% Others, 1.3% Portfolio NRIs, 1.9% Investors, Aditya Birla Mutual Fund 5.6% 16.6% Fidelity Funds 5.0% Alternative Promoters, Investment 37.1% Gymkhana Partners
Slide 22: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million (Rs. million) Q3FY23 Q3FY22 YoY (%) Q2FY23 QOQ (%) 9M FY23 9M FY22 YoY (%) Income: Revenue from operations 3,270 3,219 2% 3,141 4% 9,434 9,719 -3% Other income 39 36 8% 35 12% 120 104 15% Total Income 3,309 3,255 2% 3,176 4%
Slide 23: Relative performance – Q3FY23
Relative performance – Q3FY23 Repco Home Finance Limited Particulars Units Q3FY22 Q3FY23 Sanctions Rs. mn 4,943 7,450 Disbursements Rs. mn 4,439 6,962 Net interest income Rs. mn 1,492 1,460 PAT Rs. mn 315 808 NIM % 5.0 4.8 Yield on assets % 10.9 10.8 Cost of funds % 7.1 7.5 Spread % 3.8 3.3 Return o
Slide 24: Relative performance – 9MFY23
Relative performance – 9MFY23 Repco Home Finance Limited Particulars Units 9MFY22 9MFY23 Sanctions Rs. mn 12,208 22,653 Disbursements Rs. mn 11,676 20,839 Net interest income Rs. mn 4,500 4,280 PAT Rs. mn 1,495 2,140 NIM % 5.0 4.8 Yield on assets % 10.8 10.5 Cost of funds % 7.0 7.1 Spread % 3.8 3.4
Slide 25: Repco Home Finance Limited – contact and safe harbor
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