Muthoot Capital Services Ltd. · NSE:MUTHOOTCAP

Muthoot Capital Services — Q1 FY2024 Earnings Presentation

34 slides from Muthoot Capital Services's earnings presentation, Aug 8, 2023

  1. Slide 1: Cover letter to stock exchanges: Investor Presentation Q1 FY24

    MCSL/SEC/23-24/125 August 08, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code – 511766 Trading Symbol - MUTHOOTCAP Scrip Code (Debenture) – 9

  2. Slide 2: Investors Presentation for the quarter ended 30th June 2023

    Click to edit title Investors Presentation For the quarter ended 30th June 2023

  3. Slide 3: Contents

    Contents 1 Operational Highlights 03-08 2 Performance Analysis 09-18 4 Asset Analysis 19-29 5 Liability Analysis 30-32 2

  4. Slide 4: Operational Highlights

    Operational Highlights CAPITAL

  5. Slide 5: Operational Highlights

    Operational Highlights AUM PAT Total Income Total Expense Q1 FY 24: ₹ 1996 Cr Q1 24 : ₹ 18.03 Crs Q1 24 : ₹ 107 Crs Q1 24 : ₹ 83 Crs Disbursement Q1 FY 24: ₹ 201 Cr Shareholders Fund New customer Net Interest Income Q1 24: ₹ 507 Crs Q1 24: 24,491 Q1 24 : ₹ 63 Crs Balance sheet Size Q1 FY 24: ₹ 2236

  6. Slide 6: Geographically spread across States

    Geographically spread across 20 States 5

  7. Slide 7: Hawk Eye View of Operations

    Hawk Eye View of Operations Debt Equity Ratio CRAR ROE 3.32 Times 29.89% 14.48% Attrition Rate EPS ROA 4.8% 10.79 3.56 % A+ Average LTV Cost of Borrowing Rating A+ CRISIL Rating 77.19% 9.7% Stable by “A+” Stable Rated CRISIL 6

  8. Slide 8: Revenue, CRAR, NNPA and GNPA trends

    Revenue CRAR Q4 FY 23: ₹ 115.6 Cr -7.49% Q4 FY 23 : ₹ 27.89 % Cr 7.17% Q1 FY 24: ₹ 106.9 Cr Q1 FY 24 : ₹ 29.89 % Cr Q1 FY 23: ₹ 106.4 Cr 0.49% Q1 FY 23 : ₹ 20.30 % Cr Q1 FY 24: ₹ 106.9 Cr 47.24% Q1 FY 24 : ₹ 29.89 % Cr NNPA Stage 3-Own book- GNPA Q4 FY 23 : 2.58% -0.39% Q4 FY 23 : ₹ 431.2 Cr Q1 FY 2

  9. Slide 9: PAT, ROE, ROA and Debt Equity Ratio

    PAT ROE Q4 FY 23 : ₹ 25.6 Cr 29.95% Q1 FY 24 : ₹ 18.03 Cr Q4 FY 23 : 22.08 % -34.42% Q1 FY 24 : 14.48 % Q1 FY 23 : ₹ 14.30 Cr 26.08% Q1 FY 23 : 14.50 % -0.14% Q1 FY 24 : ₹ 18.03 Cr Q1 FY 24 : 14.48 % -0.39% ROA Debt Equity Ratio Q4 FY 23 : 4.88% Q4 FY 23 : 3.8 -27.05% -13.16% Q1 FY 24 : 3.56% Q1 FY

  10. Slide 10: Performance Analysis

    Performance Analysis CAPITAL

  11. Slide 11: Financial Performance – Quarterly & Yearly

    FINANCIAL PERFORMANCE – QUARTERLY & YEARLY Quarterly Trend ₹. In Crores Financial Statement Metrics Q1FY24 Q1FY23 Y-o-Y Q4FY23 Disbursement : *** Retail Loans 177.51 326.10 -46% 206.29 Other Loans 23.00 1.70 1253% 73.48 Total Disbursements 200.51 327.80 -39% 279.77 AUM at the end of the period * 199

  12. Slide 12: Statement of Sources and Application of Funds

    STATEMENT OF SOURCES AND APPLICATION OF FUNDS ₹. In Crores Sources 30-Jun-23 31-Mar-23 30-Jun-22 Application 30-Jun-23 31-Mar-23 30-Jun-22 Share Capital 16.4 16.4 16.4 Fixed Assets 2.0 2.1 1.9 Reserve & Surplus 490.8 472.8 409.2 Investments 118.9 118.0 73.7 Shareholders' Funds 507.3 489.25 425.60 De

  13. Slide 13: Disbursements, Average LTV and AUM

    Disbursements (in ₹ crores) Average LTV 327.7 279.8 81.20% 200.7 80.5% 80.1% 80.00% 79.4% 78.40% 77.8% 77.20% 76.8% Q1 FY23 Q4 FY23 Q1 FY24 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 2650.0 2088.0 2088.0 2102.0 1996.0 AUM FY 20 FY 21 FY 22 FY 23 Q1 24 12

  14. Slide 14: Revenue, Capital Adequacy, Cost to NII, Loan Loss Provisions

    Revenue (in ₹ crores) Capital Adequacy Ratio (%) 29.9% 27.9% 115.6 23.8% 23.9% 112.8 20.3% 109.7 106.4 106.9 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Cost to NII Loan Loss Provision & Write-Offs (in ₹ crores) 15.0 63.1% 61.2% 9.4 8.9 60.4% 10.0 59.3% 55.4% 5.0 1.6 .0 Q1 23 Q2 23 Q

  15. Slide 15: PAT, EPS, ROA and ROE

    Profit after Tax (in ₹ crores) Earnings per Share (in ₹ ) 25.6 15.8 18.3 19.7 18.0 11.1 12.0 14.3 10.8 9.0 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 ROA (%) ROE (%) 4.9 5.0 25.0 22.1 3.5 3.7 3.6 17.8 18.3 4.0 20.0 2.8 14.5 14.5 3.0 15.0 2.0 10.0 1.0 5.0 0.0 0.0 Q1 23 Q2 23 Q3 23 Q4

  16. Slide 16: Debt Equity Ratio and Net Worth

    Net Worth (in ₹ Crore ) Debt Equity Ratio 600. 507. 2 4.50 489. 3 463.60 3.94 443.94 3.87 500. 425.66 4.00 3.71 3.65 400. 3.32 3.50 300. 3.00 200. 100. 2.50 . 2.00 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Quarter Q1 FY 22 Q2 FY 22 Q3 FY 22 Q4 FY 22 Q1 FY 23 Q2 FY 23 Q3 FY 23 Q4 FY

  17. Slide 17: Spread Analysis

    Spread Analysis 60.00% 23.00% 50.00% 22.00% 40.00% 30.00% 21.00% 20.00% 20.00% 10.00% 0.00% 19.00% -10.00% -20.00% 18.00% -30.00% 17.00% -40.00% -50.00% 16.00% Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Direct exp 8.35% 9.68% 8.49% 7.94% 7.76% 8.01% 7.78% 8.50% 9.15% Other opex 4

  18. Slide 18: Analysis of Cost & Yield

    Analysis of Cost & Yield Cost of Funds Yield 25.00% 19.85% 19.44% 19.53% 20.00% 18.88% 19.17% 19.28% 17.50% 17.30% 17.35% 16.30% 16.50% 15.11% 15.00% 9.54% 9.48% 9.70% 10.00% 8.83% 9.10% 9.00% 8.90% 8.70% 8.69% 8.74% 9.00% 9.18% 5.00% 0.00% F Y 21 F Y 22 F Y 23 Q1 F Y Q2 F Y Q3 F Y Q4 F Y Q1 F Y Q2

  19. Slide 19: NPA Movement (Excluding DA) June-23

    NPA Movement (Excluding DA) June -23 ₹. In Crores Balance Particulars Stock ₹. In Crores Opening Balance 431.20 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 GNPA 526.12 480.58 467.04 431.2 419.88 Add: New slippage during the Quarter 35.95 ECL Provision 439.53 407.27 404.24 387.12 378.34 Add: Addition due to n

  20. Slide 20: Asset Analysis

    Asset Analysis fri muthoot CAPITAL

  21. Slide 21: Liquidity Projections

    Liquidity Projections ₹. In Crores Particulars Jul-23 Aug-23 Sep-23 Q2 FY 2023 Opening Balance 382.40 339.28 404.34 382.40 Inflows New Funding / Borrowings 0.23 153.50 154.00 307.73 New funding through PTC / DA /CP / MLD - - 75.00 75.00 WCDL/CC Rollover 61.00 165.00 125.00 351.00 EMI Repayments incl

  22. Slide 22: MCSL Geographic Overview – Retail Loans

    MCSL GEOGRAPHIC OVERVIEW – RETAIL LOANS 100% 1200.00 90% 0.00% 22.11% 992.46 34.27% 1000.00 Zone Zone 80% 40.25% 40.72% Active Total Zone wise wise Clients AUM (crs) 70% AUM % NPA % 800.00 60% South 2,52,772 992.46 56% 52% 50% 100.00% 600.00 West 34,422 128.11 7% 12% North 57,188 202.59 11% 19% 40%

  23. Slide 23: Retail Portfolio Split as on 30th June 2023

    Retail Portfolio Split as on 30th June 2023 Segment No: of loans Amount No of Transaction Type Amount 2W 1,766.60 Transactions 4,53,292 4W 959 13.03 Securitized (part of own book) 9 413.07 Others 1,841 2.63 Overall Direct Assignment 9 4.60 4,56,092 1,782.26 Own Portfolio excl securitized 1,364.59 AU

  24. Slide 24: Portfolio Analysis (Retail Loans)

    PORTFOLIO ANALYSIS (RETAIL LOANS) ₹. In Crores Portfolio Analysis Segment – wise Analysis 150.00% 23.79% 1766.60 15.66 424..02 100.00% NPA 76.25% 71.29% 50.00% Regular 23.75% 28.71% 1358.24 0.00% Two Wheeler Four Wheeler & Others 76.21% NPA Regular Source - wise Analysis Bucket – wise Analysis 23.79

  25. Slide 25: Zonewise Disbursement

    ZONEWISE DISBURSEMENT Q4 FY23 Q1 FY24 ₹ Cr 206.27 ₹ Cr 177.51 Share of Branch and Dealer of zone-wise disbursement 12% 12% Branch Branch 51% Co Lending Co Lending 38% 59% 29% Dealer Dealer 24

  26. Slide 26: Collection Performance Monitoring; Corporate Loan

    Collection Performance Monitoring Corporate Loan ₹. In Crores ₹. In Crores Month Monthly Collections Monthly Billing % of collection Jul-22 8.91 10.03 89% Aug-22 8.31 8.52 98% Sep-22 7.62 7.81 98% Oct-22 7.04 7.03 100% Nov-22 7.26 7.26 100% Dec-22 9.44 9.43 100% Jan-23 11.74 11.74 100% Feb-23 16.04

  27. Slide 27: Co-Lending Partners

    Co-Lending Partners ₹. In Crores Co Lending Partners Grand Total 216 Wheels EMI 25.93 UP Money 11.41 Credit Wise Capital Grand Total 253.34

  28. Slide 28: Asset Quality and Provision Coverage

    Asset Quality and Provision Coverage ₹. In Crores 25.00% 30.00% 22.99% 22.70% 21.28% 21.30% As on As on As on 20.06% As Per IND AS 20.00% 25.27% 19.47% 25.00% 30.06.2023 31.03.2023 30.06.2022 25.90% 23.60% 21.86% 21.08% 20.00% Own Book Portfolio 1992.29 2097.98 2113.46 20.55% 15.00% Own book NPA 21.

  29. Slide 29: ALM as on 30/06/2023

    ALM as on 30/06/2023 ₹. In Crores 7M to Above 5 Particulars 1M 2M 3M 4M to 6M 1 to 3 Yrs 3 to 5 Yrs Total 12M Yrs A. OUTFLOWS Capital and Reserves & Surplus 0.00 0.00 0.00 0.00 0.00 0.00 0.00 507.29 507.29 Deposits 4.96 1.99 2.71 2.66 3.60 9.36 8.40 0.00 33.68 Bank Borrowings 58.74 153.32 190.55 288

  30. Slide 30: Shareholding Pattern as on June 30th 2023

    Shareholding Pattern as on June 30th 2023 FII & FPI Banks/ Financial 1% NRI Institutions 1% 1% Other Corporate Body 5% Public 29% Promoter & Promoter Group 63% Banks/ Financial Institutions FII & FPI NRI Other Corporate Body Promoter & Promoter Group Public

  31. Slide 31: Liability Analysis

    Liability Analysis CAPITAL

  32. Slide 32: Sources of Borrowing

    Sources of Borrowing ₹ 129 Cr ₹ 1.14Cr Additional Facilities sanctioned in June-23 Additional Facilities received Collections of Public during the quarter Deposit/Sub debts ESAF Bank - ₹ 20 Crs 9.70% NCD – ₹ 49 Cr Commercial Paper - ₹ 60 Cr In Q4FY23 Public Deposits collected ₹ 1.14 Cr of which ₹ 0.

  33. Slide 33: Borrowing Profile – by instrument

    Borrowing Profile – by instrument ₹. In Crores Q1 FY ’23 Q4 FY ’23 Q1 FY ’24 Particulars Amount Cost* Amount Cost* Amount Cost* Bank Loan 1067.2 8.51% 986.8 9.24% 1,000.05 9.98% Sub debt 29.2 12.05% 14.7 9.96% 7.21 9.96% Public Deposit 52.99 7.51% 42.0 7.07% 32.02 6.78% NCD 0.0 9.47% 50.0 10.07% 84.

  34. Slide 34: Thank You!

    Thank You ! 33

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