Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q2 FY23 Earnings Presentation
27 slides from Repco Home Finance's earnings presentation, Nov 11, 2022
Slide 1: Exchange filing cover letter for investor presentation
RHFL/SE/56/2022-23 11th November, 2022 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 Q2FY23
Repco Home Finance Limited Earnings Presentation Q2FY23 www.repcohome.com Earnings Presentation November 2022
Slide 3: Agenda
Agenda Repco Home Finance Limited Q2FY23 Performance ► Business summary ► Financial performance ► Borrowing profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation November 2022
Slide 4: Q2FY23 Performance
Repco Home Finance Limited Q2FY23 Performance Earnings Presentation November 2022
Slide 5: Business summary
Business summary Repco Home Finance Limited Loans outstanding - Net worth Total capital adequacy ratio Rs. 1,20,677 mn Rs. 21,604 mn 34.1% Average loan per unit Number of live accounts Employee strength - 940 Rs. 1.5 mn 1,02,913 GNPA – 6.5% ECL provision(%)- 4.3% Earnings Presentation November 202
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 8,295 7,455 6,909 6,520 6,422 6,012 5,239 4,981 4,839 4,439 Q2 Q3 Q4 Q1 Q2 FY22 FY23 Sanctions Disbursements Note – The Company did not acquire any loan pool during Q2FY23. 5 Earnings Presentation November 2022
Slide 7: Key indicators – Q2 vs Q1
Key indicators – Q2 vs Q1 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net interest income Q2FY23 8,295 7,455 1,449 20% 16% 6% Q1FY23 6,909 6,422 1,370 Operating revenue PBT PAT Q2FY23 3,141 954 712 4% 13% 15% Q1FY23 3,023 841 621 6 Earnings Presentation November 2022
Slide 8: Asset book
Asset book Repco Home Finance Limited Figures in Rs million Sanctions and disbursements Loan Book 16,000 15,204 13,877 1,40,000 14,000 1,18,894 1,20,677 12,000 1,20,000 10,000 7,298 1,00,000 8,000 7,237 6,000 80,000 4,000 60,000 2,000 0 40,000 H1FY22 H1FY23 20,000 Sanctions Disbursements Sep'21 Sep'
Slide 9: Income and earnings growth
Income and earnings growth Repco Home Finance Limited Figures in Rs million Total income Net interest income 7,000 6,569 3,500 6,246 3,008 6,000 3,000 2,820 5,000 2,500 4,000 2,000 3,000 1,500 2,000 1,000 1,000 - 500 H1FY22 H1FY23 H1FY22 H1FY23 Net profit Net worth 1,400 1,332 23,000 21,604 1,180 21
Slide 10: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee cost Other opex 450 300 268 414 400 250 345 350 200 184 300 250 150 200 150 100 100 50 50 0 0 H1FY22 H1FY23 H1FY22 H1FY23 Cost to income ratio 25.0% 23.5% 20.0% 17.2% 15.0% 10.0% 5.0% 0.0% H1FY22 H1FY23 9 Earnings Presentation
Slide 11: Profitability ratios
Profitability ratios Repco Home Finance Limited Net interest margin Spread 5.5% 4.0% 3.9% 5.0% 3.8% 5.0% 3.6% 4.7% 3.4% 3.4% 4.5% 3.2% 3.0% 4.0% 2.8% 2.6% 3.5% 2.4% 2.2% 3.0% 2.0% H1FY22 H1FY23 H1FY22 H1FY23 Return on equity Return on assets 14.0% 12.6% 2.5% 12.0% 2.2% 12.0% 2.0% 2.0% 10.0% 8.0% 1.5
Slide 12: Asset quality
Asset quality Repco Home Finance Limited 7.5% 7.0% 7.0% 7.0% 6.5% 6.4% 6.5% 6.0% 5.5% 5.0% 5.0% 4.9% 4.5% 4.2% 4.0% 3.8% 3.5% 3.0% Dec'21 Mar'22 June'22 Sep'22 GNPA NNPA 11 Earnings Presentation November 2022
Slide 13: Movement in Restructured assets (OTR)
Movement in Restructured assets (OTR) Repco Home Finance Limited OTR assets 6.0% 6.0% 7.0% 6.4% 6.5% March'22 June'22 Sep'22 GNPA OTR assets Note – Sep'22 GNPA includes about 1.5% of OTR assets that slipped. 12 Earnings Presentation November 2022
Slide 14: Product mix / Occupation wise GNPA(%)
Product mix / Occupation wise GNPA(%) Repco Home Finance Limited 10.0% 9.0% 8.5% 8.8% 8.0% 7.0% 6.5% 6.4% 6.5% 5.9% 6.0% 6.0% 5.0% 4.3% 3.8% 4.0% 3.0% 2.0% 1.0% 0.0% Housing Loan LAP Overall Sep'21 (Pre RBI circular ) June'22 Sep'22 12.0% 10.0% 9.3% 9.6% 8.0% 6.5% 6.4% 6.5% 6.0% 4.3% 4.0% 3.5% 3.3%
Slide 15: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Sep’21 June’22 Sep’22 Gross Stage 3 5,087 7,632 7,860 % portfolio in Stage 3 4.3% 6.4% 6.5% ECL provision - Stage 3 2,204 2,808 3,386 Net - Stage 3 2,883 4,824 4,474 Coverage ratio - Stage 3 43% 37% 43% Gross Stage 1 & 2 1,13,807 1,109,8
Slide 16: Borrowing profile
Borrowing profile Repco Home Finance Limited Average % 100% Source (Rs mn) Sep’21 June’22 Sep’22 cost change 80% National Housing Bank 6.42% 18,936 17,939 16,813 -11% 70% 72% 60% Repco Bank 7.65% 10,827 9,090 10,382 -4% 40% Commercial Banks 7.32% 69,188 66,090 69,159 0% 20% 11% 11% 19% 17% Total 7.2
Slide 17: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.00% 7.12% 7.09% 7.10% 7.10% 7.10% 7.08% 7.00% 7.09% 7.10% 7.16% 7.20% 6.97% 6.97% 7.00% 6.00% 5.00% 4.00% 7.48% 7.29% 7.08% 7.11% 7.13% 7.24% 6.60% 7.01% 7.00% 6.85% 6.93% 3.00% 6.14% 2.00% 1.00% 0.00% Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22
Slide 18: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation November 2022
Slide 19: 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 20: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Gujarat, 3.4% Kerala, 2.9% Others, 3.2% Telangana, 4.9% Andhra Pradesh, 5.9% Maharashtra, 9.6% Tamil Nadu, 57.2% Karnataka, 12.9% Annualized Exposure YoY QoQ States Sep'21 June'22 Sep'22 growth growth Kerala 3.1% 2.9% 2.9% -6% -2% Gujarat 3.7% 3.6% 3.
Slide 21: Annexure
Repco Home Finance Limited Annexure Earnings Presentation November 2022
Slide 22: Shareholding pattern
Shareholding pattern Repco Home Finance Limited % Outstanding shares – 62.6 mn Major non-promoter shareholders shareholding HDFC Mutual Fund 6.7% Foreign Others, 1.2% NRIs, 1.8% Aditya Birla Mutual Fund 5.6% Portfolio Investors, Fidelity Funds 5.0% 18.8% Omnis Portfolio Investments 3.1% Apax Global
Slide 23: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million QOQ (Rs. million) Q2FY23 Q2FY22 YoY (%) Q1FY23 H1FY23 H1FY22 YoY (%) (%) Income: Revenue from operations 3,141 3,299 -5% 3,023 4% 6,164 6,500 -5% Other income 35 46 -24% 47 -26% 81 69 19% Total Income 3,176 3,345 -5% 3,070 3%
Slide 24: Balance Sheet
Balance Sheet Repco Home Finance Limited Figures in Rs million (Rs. million) As on Sep 30, 2022 As on Sep 30, 2021 EQUITY AND LIABILITIES: Shareholder's Funds 23,535 21,619 Share Capital 626 626 Reserves and Surplus 22,909 20,994 Financial liabilities 97,182 99,957 Creditors 10 69 Debt securities 0
Slide 25: Relative performance – Q2FY23
Relative performance – Q2FY23 Repco Home Finance Limited Particulars Units Q2FY22 Q2FY23 Sanctions Rs. mn 5,239 8,295 Disbursements Rs. mn 4,839 7,455 Net interest income Rs. mn 1,560 1,449 PAT Rs. mn 859 712 NIM % 5.2 4.8 Yield on assets % 11.1 10.5 Cost of funds % 7.0 7.1 Spread % 4.0 3.4 Return o
Slide 26: Relative performance – H1FY23
Relative performance – H1FY23 Repco Home Finance Limited Particulars Units H1FY22 H1FY23 Sanctions Rs. mn 7,298 15,204 Disbursements Rs. mn 7,237 13,877 Net interest income Rs. mn 3,008 2,820 PAT Rs. mn 1,180 1,332 NIM % 5.0 4.7 Yield on assets % 10.8 10.3 Cost of funds % 7.0 7.0 Spread % 3.9 3.4 Re
Slide 27: For any queries, please contact
Repco Home Finance Limited For any queries, please contact: Subramanian Balaganapathy Repco Home Finance Limited Phone: +91 44 42106650 Email: bala@repcohome.com Safe Harbor: This presentation may have certain statements that may be “forward looking” including those relating to general business plan