Fino Payments Bank Ltd. · NSE:FINOPB
Fino Payments Bank — Q1 FY2025 Earnings Presentation
34 slides from Fino Payments Bank's earnings presentation, Jul 31, 2024
Slide 1: Regulation 30 filing cover letter to BSE and NSE
July 31, 2024 BSE Limited National Stock Exchange of India Limited P.J. Towers, Exchange Plaza, 5th Floor, Plot No. C/1, G Dalal Street, Block, Bandra - Kurla Complex, Mumbai- 400 001 Bandra (E), Mumbai - 400 051 (Scrip Code: 543386) (Symbol: FINOPB) Dear Sir/Madam, Sub: Investor Presentation under
Slide 2: Investor Presentation Q1'25
Classification: Confidential Investor Presentation Q1’25 Classification: Confidential
Slide 3: Table of Content
Classification: Confidential Table of Content 01 Strategic Update 02 Financial Highlights 03 Digital Update 04 Product Performance #HarDinFino… Classification: Confidential 2
Slide 4: Strategic Update
Classification: Confidential Strategic Update Scan to open bank account Classification: Confidential 3
Slide 5: Key Highlights – Q1'25
Classification: Confidential Key Highlights – Q1’25 Sustainable Business Model – 25%+ YoY revenue growth; 5% above the earlier guidance Expanding Ownership Business – customer base of ~1.2 crores including 3.5+ lakh accounts opened digitally (~42 lakh digitally active) Building Liability Franchise –
Slide 6: Robust Business Model – Q1FY'25
Classification: Confidential Robust Business Model – Q1FY’25 (% Growth YoY) UPI Throughput Digital ₹ 44k Crs Advancement +139% Transaction Count Business 70.5 Crs Volume +73% Highest Ever Revenue Financial ₹ 436.9 Crs Strength +25% Merchant Count Strong 18.1 Lakhs Distribution +25% Return on Equity
Slide 7: Three Phases of our Business – Q1'25 Update
Classification: Confidential Three Phases of our Business – Q1’25 Update Phase 3: Monetization Phase 2: Acquisition Fino 2.0+ : Simplified digital solutions for customer friendly experience Technology ready for opportunities Phase 1: Transaction Customer Base at ~12 million 54% YoY growth in
Slide 8: Q1'25 Key Business Highlights (YoY)
Classification: Confidential Q1’25 Key Business Highlights (YoY) Revenue EBITDA PBT Cash Profit ₹ 436.9 Crs ₹ 53.2 Crs ₹ 24.3 Crs ₹ 41.8 Crs 25.4% 31.4% 30.2% 26.4% Digital Average Txn. Count Throughput Throughput Deposits 70.5 Crs ₹ 105.6k Crs ₹ 44.2k Crs ₹ 1,699 Crs 73.7% 39.3% 140.8% 36.7% Capita
Slide 9: Q1'25 Key Business Highlights (QoQ)
Classification: Confidential Q1’25 Key Business Highlights (QoQ) Revenue EBITDA PBT Cash Profit ₹ 436.9 Crs ₹ 53.2 Crs ₹ 24.3 Crs ₹ 41.8 Crs 8.9% (1.8%) (3.7%) (2.5%) Digital Average Txn. Count Throughput Throughput Deposits 70.5 Crs ₹ 105.6k Crs ₹ 44.2k Crs ₹ 1,699 Crs 13.9% 2.7% 3.0% 10.4% Capital
Slide 10: Revenue & PBT 4 years Trend
Classification: Confidential Revenue & PBT 4 years Trend QoQ Growth Revenue PBT Q1'22 (11%) (59%) Q1'23 1% (43%) • Q1’25 – Best ever QoQ performance till date Q1'24 8% (15%) • Digital momentum key impetus to growth • Shift from transaction to ownership business Q1'25 9% (4%) • Business seasonality g
Slide 11: Geographical Presence
Classification: Confidential Geographical Presence (in 000’s) Jammu & Kashmir 4.2 Himachal Pradesh 5.8 Punjab 47.0 Meghalaya 2.4 Uttarakhand 10.0 Haryana 46.7 Sikkim 2.9 Assam 32.8 Merchants* Branches & Delhi 36.6 Uttar Pradesh 307.3 (‘000) CSPs Tripura 6.2 Merchant / Mix Count / Mix Rajasthan 126.3
Slide 12: Financial Highlights
Classification: Confidential Financial Highlights Scan to open bank account Classification: Confidential 11
Slide 13: Bank Level Profit & Loss
Classification: Confidential Bank Level Profit & Loss Particulars (₹ Crs) Q1’25 Q4’24 Q1’24 QoQ (%) YoY (%) FY’24 Revenue 436.9 401.3 348.3 8.9% 25.4% 1,478.4 Product Cost 301.5 273.3 238.2 10.3% 26.5% 999.8 Net Revenue 135.4 128.0 110.1 5.8% 23.0% 478.6 Net Revenue Margin % 31.0% 31.9% 31.6% - - 32
Slide 14: Financial Highlights
Classification: Confidential Financial Highlights Revenue (₹ Crs) PBT (₹ Crs) 28% CAGR 436.9 99% CAGR 24.3 348.3 18.7 289.1 10.1 206.2 3.1 1.5% 3.5% 5.4% 5.6% Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'24 Q1'25 EBITDA (₹ Crs) Cost to Income (%) 68% CAGR 53.2 32.8% (7.4%) 40.5 26.8% 26.2% 23.6 25.4% 11.2
Slide 15: Product Revenue Mix
Classification: Confidential Product Revenue Mix ( ₹ Crs) QoQ YoY 436.9 436.9 401.3 11%, 46.6 11%, 46.6 11%, 44.2 348.3 15%, 66.8 9%, 36.8 15%, 66.8 10%, 33.9 8%, 32.5 7%, 32.0 2%, 7.7 7%, 32.0 9%, 32.1 29%, 117.7 26%, 112.5 26%, 112.5 33%, 116.1 6%, 25.6 7%, 29.3 7%, 29.3 4%, 15.6 4%, 16.7 9%, 32.1
Slide 16: Product Portfolio – Growth & Margins
Classification: Confidential Product Portfolio – Growth & Margins Q1’25 Revenue QoQ YoY Q1’25 Product Drivers (₹ Crs) Growth Growth Margins Customer ownership; Path to CASA 93.6 3% 40% 50% annuity High growth high margin CMS 39.4 4% 10% 37% business Digital Payment UPI payments stack 66.8 82% 7.6x 2
Slide 17: Overall PBT & ROE
Classification: Confidential Overall PBT & ROE Profit Before Tax (₹ Crs) PBT for Q1’25 at ₹ 24.3 Cr 13.8 19.1 22.1 18.7 19.5 22.8 25.3 24.3 10.1 30% growth over Q1’24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Return on Equity Annualized ROE of Q1’25 16.7% 16.4% 15.0% 15.4% 15.2% 15.2% 13
Slide 18: Revenue Mix - Guidance
Classification: Confidential Revenue Mix - Guidance FY’24 FY’25 (Guidance) 19% 17% 21% 23% 6% 10% 25% 16% 10% 34% 44% CASA CMS Transaction Digital Payment Services Treasury & Others Accelerated Digital Impetus on Business #HarDinFino… Classification: Confidential 17
Slide 19: Fino 2.0 Digital Update
Classification: Confidential Fino 2.0 Digital Update Scan to open bank account Classification: Confidential 18
Slide 20: Digital – Building Momentum (1/3)
Classification: Confidential Digital – Building Momentum (1/3) (YoY Growth) 68k digital accounts ~57 Cr UPI transactions opened in in Q1’25 ( 102%) Q1’25 ( 99%) Contributing 1.42% of overall UPI ecosystem volume 5 million+ App downloads on Android ~42 lakh average digitally active ₹ 775 Average UPI
Slide 21: Digital – Building Momentum (2/3)
Classification: Confidential Digital – Building Momentum (2/3) QR based Merchant Acquiring Model* Sound-box ^ 17,000+ QRs deployed! Phase -1 Deployed for ~60% 50 Merchants Monthly Active QR Codes! ₹ 105 Cr+ Throughput Recorded! ₹ 4.8 Lakh ~14 Lakh Throughput Transactions! Recorded! ( !Till 29th July
Slide 22: Digital – Building Momentum (3/3)
Classification: Confidential Digital – Building Momentum (3/3) Avg. Digitally Active Customers (in lakhs) Digital Throughput (QoQ) Revenue ( ₹ Crs) 50,0 00 44. 0 1.4x Times 41.6 45,0 00 2.4x Times 44,197 ~9x Times 66.8 42,915 39.2 40,0 00 38,187 39. 0 35.6 35,0 00 33,123 30,0 00 34. 0 32.2 25,0 00 3
Slide 23: Digital – Evolution
Classification: Confidential Digital – Evolution Q1’24 Q3’24 Q1’25 First savings account open banking 6 new partners added to our UPI Launch of Loyalty rewards partner merchant stack program – Fino Pay App More partners integrate with our UPI Introduction of UPI Lite and Credit 5 new par
Slide 24: Fino UPI – Universe
Classification: Confidential Fino UPI – Universe Fino’s Contribution to CC on UPI UPI Ecosystem 1.42% Scan & Pay Static & Dynamic QR 1.27% 1.25% Account + IFSC Transfer 1.23% Features One VPA multiple A/C linking 20 of UPI PIN set through Aadhaar OTP Payments 22 1.01% Transfer to UPI ID 23 24 UPI Be
Slide 25: Product Performance
Classification: Confidential Product Performance Scan to open bank account Classification: Confidential 24
Slide 26: Ownership Momentum Continues (YoY)
Classification: Confidential Ownership Momentum Continues (YoY) No. of CASA Accounts Average Deposits Accounts Opened per Day (in Lakhs) (₹ Crs) 55% CAGR 33% CAGR 8,894 53% CAGR 1,699 117.9 8,371 1,243 85.6 6,842 810 54.5 475 31.5 3,739 Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'
Slide 27: Customer Stickiness (YoY)
Classification: Confidential Customer Stickiness (YoY) Renewal Income (₹ Crs) Customer Balance (₹) 40.4 14% CAGR 143% CAGR 1,188 1,066 1,102 26.2 798 13.4 2.8 Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'24 Q1'25 Debit Card Spends (₹ Crs) Debit Card Spends Per Transaction (₹) 40% CAGR 5% CAGR 2,280 2,208
Slide 28: CMS – High Margin Product (YoY)
Classification: Confidential CMS – High Margin Product (YoY) CMS Clients Throughput (₹ Crs) Avg. Revenue per Txn (₹) 31% CAGR 217 63% CAGR 19,796 17% CAGR 154 154 189 15,668 152 109 96 97 9,171 4,558 Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'24 Q1'25 Q1'22 Q1'23 Q1'24 Q1'25 Diversified clientele across
Slide 29: CMS: Sector Diversification (YoY)
Classification: Confidential CMS: Sector Diversification (YoY) 15% 13% 13% 16% 16% 18% 8% 3% 2% 5% 5% 5% Q1’23 Q1’24 1% Q1’25 60% 56% 62% Throughput ₹ 9,171 Cr ₹ 15,668 Cr ₹ 19,796 Cr NBFC & MFI E-com (Logistic) CRA Retail Banks Others Accelerated growth path helped by 5 states with average monthly
Slide 30: Remittance
Classification: Confidential Remittance QoQ Revenue (₹ Crs) YoY Take Rate (%) 117.7 116.1 112.5 112.5 0.86 0.86 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 Throughput (₹ Crs) Average Ticket Size (₹) 13,668 13,088 13,445 13,088 2,934 2,748 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 One of the pioneers in the remitt
Slide 31: AEPS
Classification: Confidential AEPS QoQ Revenue (₹ Crs) YoY Take Rate (%) 32.1 29.3 29.3 25.6 0.31 0.31 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 Throughput (₹ Crs) Average Ticket Size (₹) 10,219 2,816 7,800 2,563 7,372 7,800 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 Decline in YoY revenue contributed by ecosyste
Slide 32: Micro-ATM
Classification: Confidential Micro-ATM QoQ Revenue (₹ Crs) YoY Take Rate (%) 23.7 16.7 15.6 16.7 0.35 0.31 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 Throughput (₹ Crs) Average Ticket Size (₹) 2,899 2,593 3,939 3,761 3,568 2,593 Q4'24 Q1'25 Q1'24 Q1'25 Q1'24 Q1'25 Continue to be the one of the dominant pla
Slide 33: Key Business Partners
Classification: Confidential Key Business Partners #HarDinFino… Classification: Confidential 32
Slide 34: Thank You
Classification: Confidential Scan to locate Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1, 8th Floor, TTC Industrial Area, MIDC Shirwane, Juinagar, Navi Mumbai - 400 706 Email: investor_relations@finobank.com Tel: 022-7104 7000 Thank You Classification: Confidential 33