Muthoot Capital Services Ltd. · NSE:MUTHOOTCAP
Muthoot Capital Services — FY2023 Earnings Presentation
29 slides from Muthoot Capital Services's earnings presentation, May 20, 2023
Slide 1: Investor Presentation for Quarter and year ended March 31, 2023
MCSL/SEC/23-24/53 May 20, 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) – 72459
Slide 2: Investors Presentation for the year ended 31st March 2023
Investors Presentation for the year ended 31st March 2023
Slide 3: Contents
Contents 1. Operational Highlights 03 – 06 2. Performance Analysis 07 – 14 3. Collection Analysis 15 – 16 4. Asset Analysis 17 – 24 5. Liability Analysis 25 – 27
Slide 4: Operational Highlights
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis AUM PAT Total Income Total Expense FY 23: ₹ 2102 Cr FY 23: ₹ 77.92Crs FY 23: ₹ 444.62 Crs FY 23: ₹ 335.82 Crs FY 22: ₹ 2088 Cr FY 22: ₹ -161.82 Crs FY 22: ₹ 411.30 Crs FY 22: ₹ 627.01 Crs Disbur
Slide 5: Our Geographical Reach Is Spread Across States
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis OUR GEOGRAPHICAL REACH IS SPREAD ACROSS S TAT E S 4
Slide 6: Hawk-Eye View of Operations
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis HAWK-EYE VIEW OF OPERATIONS Debt-Equity Ratio CRAR 27.89% 3.87 times Upgraded Attrition Rate to A+ EPS 47.84 Stable by 3.63% CRISIL Average LTV ROA 3.7% 78.35% Cost of Borrowing ROE 17.96% 9.10%
Slide 7: Operational Highlights Performance
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis CRAR Revenue GNPA Q3 FY 23 : ₹ 23.89% Cr 16.74% Q3 FY 23: 21.86.0% Q3 FY 23: ₹ 112.8 Cr 2.49% -4.53% Q4 FY 23 : ₹ 27.89 % Cr Q4 FY 23: 20.55% Q4 FY 23: ₹ 115.6 Cr Q4 FY 22: ₹ 108.8 Cr 7.24% Q4 F
Slide 8: Financial Performance – Quarterly & Yearly
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis FINANCIAL PERFORMANCE – QUARTERLY & YEARLY ₹. In Crores Y-o-Y Vs Quarterly Trend Yearly Trend Financial Statement Metrics Q4FY23 Q4FY22 Q3FY 22 Q3FY23 FY23 FY22 Y-o-Y Disbursement : Retail Loans
Slide 9: Statement of Sources and Application of Funds
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ₹. In Crores STATEMENT OF SOURCES AND APPLICATION OF FUNDS Sources 31-Mar-23 31-Mar-22 Application 31-Mar-23 31-Mar-22 Share Capital 16.4 16.4 Fixed Assets 2.1 2.0 Reserve & Surplus 472.8 394.9
Slide 10: Disbursements, AUM and Average LTV
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis DISBURSEMENTS AUM 412.41 2650 2088 2088 2102 1 308.78 279.77 1 0 FY 20 FY 21 FY 22 FY 23 Average LTV Q4 FY22 Q3 FY23 Q4 FY23 Q4 FY22 Q3 FY23 Q4 FY23 80.5% 81.2% 79.4% 80.1% 80.0% 77.8% 78.4% 76.
Slide 11: Revenue, Capital Adequacy Ratio, OPEX and Loan Loss Provisions
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Revenue (in ₹ crores) Capital Adequacy Ratio (%) 30.6% 27.9% 32.2% 29.0% 23.9% 19.8% 20.3% 23.8% 109.7 112.8 115.6 108.9 106.4 97.9 99.3 93.0 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 2
Slide 12: Profit after Tax, EPS, ROA and ROE
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Profit after tax (in Crores) Earning per Share (in ₹) 11.1 12.0 15.8 19.7 25.6 9.0 8.0 18.3 14.3 2.7 4.5 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Slide 13: Net Worth and Debt Equity Ratio
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Net worth (in Crores) Debt Equity Ratio 600.0 489. 3 3.9 559. 6 550. 7 541. 3 554.9 536. 6 500.0 563.0 520.9 4.0 4.0 3.9 3.8 3.8 3.7 3.6 3.5 3.5 463.60 3.4 400.0 443.94 411. 3 3.2 425.66 300.0 2
Slide 14: Spread Analysis
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis SPREAD ANALYSIS 60.00% 23.00% 50.00% 22.00% 40.00% 30.00% 21.00% 20.00% 10.00% 20.00% 0.00% 19.00% -10.00% -20.00% 18.00% -30.00% 17.00% -40.00% -50.00% 16.00% Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22
Slide 15: Analysis of Cost & Yield
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ANALYSIS OF COST & YIELD Cost of Funds Yield 25.00% 20.60% 19.85% 19.44% 19.17% 19.53% 19.28% 20.00% 18.88% 17.50% 17.30% 16.30% 16.50% 15.11% 15.00% 10.30% 9.54% 9.10% 9.00% 9.00% 9.18% 9.48% 1
Slide 16: Collections
Collections fri muthoot CAPITAL
Slide 17: 60+ NPA Trend (POS) Quarterly
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis 60+ - NPA Trend (POS) | Quarterly 540 30.00% 520 25.93% -9.51 25.27% 25.00% 23.60% 500 -9.61 21.86% 20.87% 20.00% 480 460 -12.17 15.00% 515.43 509.32 440 -20.11 10.00% 486.14 471.96 420 5.82% 43
Slide 18: MCSL Geographic Overview – Retail Loans Including Loan Buyouts
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis MCSL GEOGRAPHIC OVERVIEW – RETAIL LOANS INCLUDING LOAN BUYOUTS 100% 0% 1200 Total Zone Active Zone wise 90% 21% 1086 Zone Clients AUM AUM % wise 33% 1000 (crs) NPA % 80% 38% 41% 70% South 800 In
Slide 19: Retail Portfolio Split as on 31st March 2023
Retail Portfolio Split as on 31st March 2023 Segment No: of loans Amount Transaction Type No of Transactions Amount 2W Securitized (part of own 4,31,503 1,643.42 9 518.27 book) 4W 7,907 57.78 Direct Assignment 9 4.91 Others Own Portfolio excl 47,006 238.00 1,416.03 securitized Overall 4,86,416 1,939
Slide 20: Portfolio Analysis – Retail Loans Including Loan Buyouts
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis PORTFOLIO ANALYSIS – RETAIL LOANS INCLUDING LOAN BUYOUTS ₹. In Crores Portfolio Analysis 22.5% Segment – wise Analysis 435 1644 291 77.5% 74.0% 98.0% 26% 2.0% 1500 Two Wheeler Four Wheeler & Oth
Slide 21: Zonewise Disbursement (Retail Loans Includes Co Lending)
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ZONEWISE DISBURSEMENT (RETAIL LOANS INCLUDES CO LENDING) Q3FY 23 Q4FY 23 ₹ Cr 412.39 ₹ Cr 279.77 Share of Branch and Dealer of zone-wise disbursement 38% 9% 35.7% 8.6% Branch Branch HO HO Dealer
Slide 22: Collection Performance Monitoring Corporate Loan
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis COLLECTION PERFORMANCE MONITORING CORPORATE LOAN ₹. In Crores Month Monthly Collections Monthly Billing % of collection Apr-22 6.34 6.87 92.28% May-22 6.55 7.08 92.56% Jun-22 6.44 6.89 93.49% Ju
Slide 23: Asset Quality and Provision Coverage
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ASSET QUALITY AND PROVISION COVERAGE ₹. In Crores 30.00% As on As on As on As Per IND AS 31.03.2023 31.03.2022 31.12.2022 25.00% Own Book 2097.98 2081.09 2,136.20 21.30% Portfolio 21.28% 20.00%
Slide 24: Liquidity Position
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis LIQUIDITY POSITION ₹. In Crores Particulars Apr-23 May-23 Jun-23 Q1 FY 2024 Opening Balance 513.41 484.74 503.55 513.41 Inflows New Funding / Borrowings 0.26 21.50 2.00 23.76 New funding through
Slide 25: ALM as on 31.03.2023
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ALM AS ON 31.03.2023 ₹. In Crores Over one Over two Over 3 Over 6 Over 1 year Over 3 years Particulars One Month Over 5 years Total month and months and months and months and and upto 3 and upto
Slide 26: Shareholding Pattern as on Q4 FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Shareholding Pattern as on Q4 FY23 Banks/ Financial Institutions, 7.2% Public, 18.0% FII & FPI, 9.6% There has not been any change in Share Holding NRI , 0.5% Pattern. Other Corporate Body, 2.0%
Slide 27: Sources of Borrowing
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis SOURCES OF BORROWING Additional Facilities sanction in Mar-23 ₹ 312 Cr ₹ 1.02Cr ₹ 10 Crs from IDFC, ₹ 87 Crs PTC from HDFC MF , ₹ 45 Crs Oxyzo Fin Serv & Additional Facilities Collections of Pub
Slide 28: Borrowing Profile – By Instrument Q4 FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis BORROWING PROFILE – BY INSTRUMENT Q4 FY ’22 Q3 FY ’23 Q4 FY ’23 Particulars Amount Cost* Amount Cost* Amount Cost* Bank Loan 1108.2 8.51% 986.8 9.24% 1094.7 9.56% Sub debt 35.7 12.05% 14.7 9.96%
Slide 29: Thank You
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Muthoot Capital Services — FY2023 Earnings Presentation on 6ix