Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q4 FY2024 Earnings Presentation
30 slides from Repco Home Finance's earnings presentation, May 14, 2024
Slide 1: Exchange filing cover letter
RHFL/SE/10/2024-25 14th May, 2024 National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai-400 051 Mumbai- 400001 NSE Symbol: REPCOHOME BSE Security Code: 535322 Kind Attn: Listing Department Dear Sir/Madam,
Slide 2: Earnings Presentation Q4FY24
Repco Home Finance Limited Earnings Presentation Q4FY24 www.repcohome.com Earnings Presentation May 2024
Slide 3: Agenda
Agenda Repco Home Finance Limited Q4FY24 Performance ► Business summary ► Financial performance ► Borrowing Profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation May 2024 2
Slide 4: Q4FY24 Performance
Repco Home Finance Limited Q4FY24 Performance Earnings Presentation May 2024 3
Slide 5: Business Summary
Business Summary Repco Home Finance Limited Loans Outstanding Net Worth Total Capital Adequacy Rs. 135,134 Mn Rs. 26,771 Mn Ratio 32% Average loan per unit Number of live accounts Employee strength Rs. 1.24 Mn 108,562 1,087 GNPA – 4.1% ECL provision – 4.0% Earnings Presentation May 2024 4
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 12,000 9,662 ^ 9,777 10,000 8,946 8,352 ^ 8,597 7,971 7,768 7,589 8,000 7,450 7,258 6,962 6,843 6,000 4,000 2,000 - Q3 Q4 Q1 Q2 Q3 Q4 FY23 FY24 Sanctions Disbursements ^ Includes DA pool purchase of Rs. 665.6 Mn. Earnings
Slide 7: Key Indicators – Q4FY24 vs Q4FY23
Key Indicators – Q4FY24 vs Q4FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income 9,777 8,946 1,723 Q4FY24 1% 7% 11% 9,662^ 8,352^ 1,547 Q4FY23 Operating Revenue PBT PAT 3,926 1,387 1,081 Q4FY24 15% 23% 32% Q4FY23 3,403 1,124 821 ^ Includes DA pool purcha
Slide 8: Key Indicators – Q4FY24 vs Q3FY24
Key Indicators – Q4FY24 vs Q3FY24 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q4FY24 9,777 8,946 1,723 26% 18% 0% Q3FY24 7,768 7,589 1,720 Operating Revenue PBT PAT 3,926 1,387 1,081 Q4FY24 1% 3% 9% Q3FY24 3,403 1,341 994 Earnings Presentation May 2
Slide 9: Key Indicators – FY24 vs FY23
Key Indicators –FY24 vs FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income 33,400 31,349 6,789 FY24 3% 7% 17% 32,315^ 29,190^ 5,827 FY23 Operating Revenue PBT PAT 15,245 5,247 3,947 FY24 19% 31% 33% 12,837 4,008 FY23 2,961 ^ Includes DA pool purchase of
Slide 10: Asset Book
Asset Book Repco Home Finance Limited Figures in Rs million Sanctions and Disbursements Loan Book 160,000 50,000 135,134 140,000 124,492 131,855 40,000 32,315 ^ 33,400 120,000 29,190^ 31,349 30,000 23,622 22,403 100,000 20,000 80,000 10,000 60,000 - 40,000 FY 23 9M FY 24 FY 24 20,000 Sanctions Disbu
Slide 11: Income and earnings growth Y-o-Y
Income and earnings growth Y-o-Y Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 18,000 7,500 6,789 16,000 15,245 6,500 5,827 14,000 12,837 5,500 12,000 10,000 4,500 8,000 3,500 6,000 2,500 4,000 1,500 2,000 - 500 FY 23 FY 24 FY 23 FY 24 Net profit Net wor
Slide 12: Income and earnings growth Q-o-Q
Income and earnings growth Q-o-Q Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 5,000 1,900 1,720 1,723 3,873 3,926 1,700 1,547 4,000 3,403 1,500 3,000 1,300 2,000 1,100 900 1,000 700 - 500 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Net profit Net worth 1,
Slide 13: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee Cost Other Opex 350 250 288 300 194 237 242 200 250 167 200 150 141 150 100 100 50 50 0 Q4FY23 Q3FY24 Q4FY24 0 Q4FY23 Q3FY24 Q4FY24 Cost to Income Ratio 30.0% 26.3% 25.0% 22.8% 22.0% 20.0% 15.0% 10.0% 5.0% 0.0% * Employee Cost
Slide 14: Profitability ratios Y-o-Y
Profitability ratios Y-o-Y Repco Home Finance Limited Net Interest Margin Spread 5.5% 3.6% 5.2% 3.4% 3.4% 3.3% 5.0% 4.8% 3.2% 3.0% 4.5% 2.8% 4.0% 2.6% 2.4% 3.5% 2.2% 2.0% 3.0% FY 23 FY 24 FY 23 FY 24 Return on Equity Return on Assets 18.0% 3.5% 15.8% 3.0% 16.0% 3.0% 13.5% 14.0% 2.5% 2.5% 12.0% 10.0%
Slide 15: Profitability ratios Q-o-Q
Profitability ratios Q-o-Q Repco Home Finance Limited Net Interest Margin Spread 5.5% 5.3% 3.6% 3.4% 5.1% 5.1% 3.3% 3.4% 5.0% 3.2% 3.0% 4.5% 3.0% 2.8% 4.0% 2.6% 2.4% 3.5% 2.2% 3.0% 2.0% Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Return on Equity Return on Assets 18.0% 16.5% 3.5% 3.2% 15.8% 3.1% 16.0%
Slide 16: Asset Quality
Asset Quality Repco Home Finance Limited 7.0% 5.8% 5.5% 6.0% 4.9% 4.7% 5.0% 4.1% 4.0% 3.0% 1.9% 2.0% 3.0% 2.8% 2.2% 1.5% 1.0% 0.0% Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 GNPA NNPA Earnings Presentation May 2024 15
Slide 17: Product / Occupation mix wise GNPA(%)
Product / Occupation mix wise GNPA(%) Repco Home Finance Limited 8.0% 7.1% 7.0% 5.8% 6.0% 5.4% 5.2% 5.0% 4.5% 4.7% 4.3% 4.1% 4.0% 4.0% 3.0% 2.0% 1.0% 0.0% Home Loan Home Equity Overall Q4FY23 Q3FY24 Q4FY24 9.0% 8.4% 8.0% 6.8% 7.0% 5.9% 5.8% 6.0% 5.0% 4.7% 4.1% 4.0% 3.0% 3.0% 2.5% 2.2% 2.0% 1.0% 0.0%
Slide 18: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Q4FY23 Q3FY24 Q4FY24 Gross Stage 3 7,187 6,182 5,516 % portfolio in Stage 3 5.8% 4.7% 4.1% ECL provision - Stage 3 3,566 3,714 3,597 Net - Stage 3 3,621 2,467 1,918 Coverage ratio - Stage 3 49.6% 60.1% 65.2% Gross Stage 1 & 2 1,17,305 1,
Slide 19: Stage wise Movement
Stage wise Movement Repco Home Finance Limited Figures in Rs million Mar'24 Mar'23 Particulars AUM % AUM % Stage-1 1,14,006 84.4% 1,00,404 80.7% Stage-2 15,612 11.6% 16,901 13.6% Stage-3 5,516 4.1% 7,187 5.8% Grand Total 1,35,134 100.0% 1,24,492 100.0% Earnings Presentation May 2024 18
Slide 20: Borrowing profile
Borrowing profile Repco Home Finance Limited % change Source (Rs Mn) Average cost Q4FY23 Q3FY24 Q4FY24 (Y-o-Y) National Housing Bank 7.85% 14,870 12,379 11,606 -22% Commercial Banks 8.68% 73,371 80,502 84,681 15% Repco Bank 8.15% 10,905 10,702 10,693 -2% Total 8.54% 99,146 1,03,582 1,06,980 74% 78%
Slide 21: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.8% 8.5% 8.6% 8.4% 8.4% 8.5% 8.4% 8.4% 8.4% 8.3% 8.4% 8.3% 8.3% 8.3% 8.3% 8.2% 8.3% 8.2% 8.2% 8.2% 8.2% 8.2% 8.1% 8.2% 8.2% 8.1% 8.1% 8.0% 8.0% 7.8% 7.7% 7.6% 7.4% 7.4% 7.2% 7.0% 6.8% 6.6% Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23
Slide 22: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation May 2024 17
Slide 23: Network
Network Repco Home Finance Limited Present in 12 states and 1 Union Territory with Branch Network 168 branches and 44 satellite centers. During the year, we opened 18 new Satellite Centers, 2 new branches and upgraded 7 Satellite centers to branches. We shall be opening another 40 centers during F
Slide 24: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Others, 4% Kerala, 3% Gujarat, 3% Telangana, 5% Andhra Pradesh, 6% Maharashtra, 10% Tamil Nadu, 56% Karnataka, 13% Exposure Annualised Growth States Q4FY23 Q3FY24 Q4FY24 Y-o-Y Q-o-Q Tamil Nadu 57% 57% 56% 8% 8% Karnataka 13% 13% 13% 9% 13% Maharashtra
Slide 25: Annexure
Repco Home Finance Limited Annexure Earnings Presentation May 2024 20
Slide 26: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 Mn Major non-promoter shareholders % Others, 2.28% NRIs, 1.72% Foreign Portfolio HDFC Mutual Fund 7.2% Investors, 13.95% Promoters, 37.13% Aditya Birla Sun Life Mutual Fund 5.0% Alternative Investment Funds, 1.51% Fidelity Asi
Slide 27: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million Quarter Ended Year Ended Growth (%) Particulars Mar-24 Dec-23 Mar-23 Mar-24 Mar-23 Q-o-Q Y-o-Y 1 Revenue from operations (a) Interest income 3,831 3,787 3,330 14,960 12,570 1 15 (b) Other loan related income 95 86 74 285 267
Slide 28: Relative performance – Q4 FY24
Relative performance – Q4 FY24 Repco Home Finance Limited Particulars Units Q4FY23 Q4FY24 Sanctions Rs. mn 9,662 9,777 Disbursements Rs. mn 8,352 8,946 Net interest income Rs. mn 1,547 1,723 PAT Rs. mn 821 1,081 NIM % 5.1 5.1 Yield on assets % 11.1 11.7 Cost of funds % 8.1 8.3 Spread % 3.0 3.3 Retur
Slide 29: Relative performance – FY24
Relative performance – FY24 Repco Home Finance Limited Particulars Units FY23 FY24 Sanctions Rs. mn 32,315 33,400 Disbursements Rs. mn 29,190 31,349 Net interest income Rs. mn 5,827 6,789 PAT Rs. mn 2,961 3,947 NIM % 4.8 5.2 Yield on assets % 10.7 11.7 Cost of funds % 7.4 8.3 Spread % 3.3 3.4 Return
Slide 30: For any queries, please contact
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