Capri Global Capital Limited · NSE:CGCL
Capri Global Capital — Q1 FY2025 Earnings Presentation
44 slides from Capri Global Capital's earnings presentation, Aug 5, 2024
Slide 1: Exchange filing cover letter for Q1FY25 presentation
August 5, 2024 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Pheeroze Jeejeebhoy Towers Exchange Plaza, 5th Floor Dalal Street, Fort Plot No- 'C' Block, G Block Mumbai - 400 001 Bandra-Kurla Complex, Bandra (East) Scrip Code: 531595 Mumbai – 400 051 Scrip Code: CGC
Slide 2: Q1FY25 Earnings Presentation
Q1FY25 Earnings Presentation 5th August 2024
Slide 3: Business Performance
Business Performance CAPRIGLOBAL 2
Slide 4: Key Business Highlights
Key Business Highlights Consolidated ❑ Capri Global Capital Limited continued the strong growth momentum reaching Rs174,579mn AUM, increasing 56% YoY. Disbursals touched Rs56,197mn increasing 109% YoY during Q1FY25. Retail AUM continues to be above 80% of total AUM. ❑ Housing & Gold loan drive busin
Slide 5: Business Update: Consolidated AUM Up 56% YoY
Business Update Consolidated AUM Up 56% YoY AUM Break Up (₹ Mn) Composition of AUM (%) 1,74,579 3,439 1,56,530 4,027 28,082 2.0% 2.6% 3.4% 3.2% 2.6% 1,33,621 26,213 16.7% 16.1% 17.5% 16.6% 17.0% 1,23,585 4,300 1,12,262 4,166 40,178 22,710 2,923 20,573 23.0% 40,727 25.6% 25.9% 26.1% 26.0% 19,592 34,9
Slide 6: Retail AUM
Retail AUM Rising Share Of Co-Lending AUM Co-Lending AUM (₹ Mn) MSME AUM (₹ Mn) 35,000 16.4% 28,601 47,771 50,653 48,880 30,000 44,960 46,588 8,446 25,000 11.7% 3,548 5,518 6,195 7,110 9,347 20,000 8.9% 18,306 7.8% 3,185 15,706 15,000 6.2% 11,948 9,685 6,674 39,442 40,393 40,661 42,207 39,533 10,000
Slide 7: Disbursals
Disbursals Strong Momentum In Disbursals, Rise of ~109% YoY Segmental Disbursals (₹ Mn) Composition of Segmental Disbursals (%) 59,514 56,197 5.4% 10.6% 9,034 18.6% 17.0% 15.2% 3,043 10.9% 6,133 14.7% 3.7% 7,402 12.4% 2,058 11.6% 14.1% 38,458 11.3% 7,454 12.5% 35,267 12.3% 10.6% 6,544 6,568 26,872 5
Slide 8: MSME Loan
MSME Loan Business Update Average Ticket Size (Incr. Disbursals) (₹ Mn) Live Accounts* 1.9 1.9 31,814 31,164 29,294 30,482 28,050 1.7 1.6 1.6 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Loan to Value (%) (Incremental Disbursals) Geographical Distribution (Value-Wise)* 2% 1%
Slide 9: Gold Loan
Gold Loan Business Update Average Ticket Size (On Portfolio) (₹)* Live Accounts^ 5,05,022 110.9K 106.9K 96.4K 94.6K 100.4K 3,14,704 2,38,465 2,13,903 1,65,860 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Loan to Value (%) (Incremental Disbursals) Geographical Distribution (V
Slide 10: Housing Finance
Housing Finance Business Update Average Ticket Size (₹ Mn) (Incr. Disbursals) Live Accounts* 1.9 32,024 31,810 1.7 1.7 1.6 1.6 28,847 27,020 25,276 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Loan to Value (%) (Incremental Disbursals) Geographical Distribution (Value-Wise)*
Slide 11: Construction Finance
Construction Finance Business Update Average Ticket Size (₹ Mn) Live Accounts* ATS (outstanding) ATS (Sanc.) 258.4 261.9 261 246 226.0 233 209.7 205 209 185.2 95.6 98.4 97.5 106.6 109.0 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Geographical Distribution (Value-Wise)* Ahme
Slide 12: Car Loan Distribution
Car Loan Distribution Pan-India Presence Partner Banks Pan-India coverage through presence in 788 locations in 1 31 States & UTs 14 27 4 23 29 4 4 1 80 9 60 2 4 39 5 1 47 17 5 70 24 12 20 57 16 17 1 77 41 Total Locations (Branches + Feet-on-Street) 34 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 43 714 714 71
Slide 13: Car Loan Origination
Car Loan Origination ~36% YoY Increase In Loan Originations In Q1FY25 Consistently Rising Loan Originations (₹ Mn)^ Loan Originations Full Year Basis (₹ Mn)^ 28,302 27,510 23,804 24,277 97,415 17,799 56,939 17,020 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 FY22 FY23 FY24 Loan Originations By Volume (Nos.)^
Slide 14: Earnings Performance
Earnings Performance C A P R I G L O B A L 13
Slide 15: Performance Matrix
Performance Matrix Improvement in NII & Operating Profit Net Interest Income (₹ Mn) Operating Profit (₹ Mn) 1,452 3,013 1,299 2,493 2,450 2,552 2,373 1,083 1,091 1,096 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Credit Costs (₹ Mn) PAT (₹ Mn) 407 464 245 826 231 757 652 680
Slide 16: Non-Interest Income
Non-Interest Income Sustained Momentum in Car & Co-Lending Fees Net Non-Interest Income (₹ Mn)* Non-Interest Income / Net Income (%) Net Car Loan Fees Co-Lending Income Other Non-interest Income 1,161 1,052 1,089 30.0 31.3 805 803 549 441 25.3 26.5 470 24.3 311 404 293 342 402 178 198 316 289 271 24
Slide 17: Loan Yields
Loan Yields Improvement in Yields MSME (%) Housing Finance (%) 12.6% 12.7% 12.7% 12.7% 12.6% 15.7% 15.7% 15.7% 15.6% 15.7% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Gold Loans (%) Construction Finance (%) 19.9% 19.6% 19.5% 18.7% 18.9% 17.1% 17.2% 16.6% 16.4% 16.3% Q1FY24
Slide 18: Key Ratios
Key Ratios Improvement in Yield set off by marginal Increase in CoF Yield on Advances (Wtd. Avg.) (%) Cost of Funds (Wtd. Avg.) (%) 8.9% 9.1% 9.2% 9.3% 16.3% 8.7% 15.7% 15.6% 15.5% 15.6% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Spreads (YoA – CoF) (%) Net Interest Margin
Slide 19: Operating Expenses
Operating Expenses Improvement in Cost/AUM YoY Basis Operating Expenses (₹ Mn) Operating Expenses Composition (%) Employee Cost Other Opex Employee Cost Other Opex 798 900 30% 32% 30% 34% 34% 636 752 698 1,821 1,751 70% 66% 68% 70% 66% 1,458 1,453 1,505 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY
Slide 20: Key Ratios
Key Ratios Annualized Return on Equity (%) Annualized Return on Assets (%) 2.3% 8.7% 2.2% 2.1% 7.8% 2.0% 7.1% 7.1% 7.3% 1.9% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 EPS (Diluted) (₹) (Not Annualized) Book Value Per Share (₹)* 46.6 0.99 0.91 45.7 0.78 0.82 0.76 44.7 44.0
Slide 21: Liabilities & Liquidity Position Update
Liabilities & Liquidity Position Update C A P R I G L O B A L 20
Slide 22: Liability Mix
Liability Mix Increase Led by Bank & Market Borrowings Diversified Funding Profile (₹ Mn) Consolidated Borrowings Break-up (₹ Mn) 1,18,623 1,18,623 7,418 1,04,069 3,431 1,04,069 7,553 6,454 93,183 93,183 32,581 88,011 3,873 88,011 6,632 1,522 5,219 4,696 32,633 73,781 4,970 1,522 73,781 26,065 1,522
Slide 23: Liquidity Position
Liquidity Position ₹ Mn except stated CGCL Particulars CGHFL Consolidated (Standalone) Limits Sanctioned 143,600 50,992 194,592 Limits Availed 139,650 48,638 188,287 Un-Drawn 3,950 2,354 6,304 Repaid 58,914 16,041 74,955 Outstanding 80,736 32,597 113,333 Total no. of relationship maintained 21 17 23
Slide 24: Asset Quality
Asset Quality C A P R I G L O B A L 23
Slide 25: Asset Quality
Asset Quality Maintained Adequate PCR ₹ Mn except stated ECL Analysis As Per IndAS Q1FY25 Q4FY24 Q3FY24 Q2FY24 Q1FY24 Stage 1 & 2 - Gross 143,070 135,567 119,112 111,708 103,339 Stage 1 & 2 - ECL Provisions 1,437 1,364 1,688 1,472 1,379 Stage 1 & 2 - Net 141,633 134,202 117,424 110,236 101,959 Stage
Slide 26: Segmental NPAs
Segmental NPAs MSME* Construction Finance & IL* GNPA NNPA GNPA NNPA 4.9% 1.1% 3.8% 3.9% 3.5% 3.5% 1.0% 2.9% 0.8% 2.6% 2.6% 2.7% 0.7% 2.2% 0.5% 0.4% 0.3% 0.2% 0.1% 0.0% Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Housing Finance* GNPA NNPA 1.6% 1.5% 1.5% 1.4% 1.3% 1.0% 1.0%
Slide 27: Capital Adequacy
Capital Adequacy C A P R I G L O B A L 26
Slide 28: Well Capitalized For Medium Term Growth
Well Capitalized For Medium Term Growth Consolidated Networth (₹ Mn) Capital Adequacy (%) 38,366 39,195 48.1% 36,314 36,833 37,543 44.2% 37.2% 38.2% 32.2% 32.1% 30.5% 28.0% 29,828 30,464 31,204 26.6% 25.4% 29,258 30,925 5,250 5,250 5,250 5,250 3,250 2,138 2,325 2,465 2,652 2,741 Q1FY24 Q2FY24 Q3FY24
Slide 29: Network
Network C A P R I G L O B A L 28
Slide 30: Network: Rationalizing & Stabilizing
Network Rationalizing & Stabilizing Branch Addition Normalizing 849 917 919 935 968 ❑ Increased branch network with a net addition of 33 branches during Q1FY25. Total branch network stood at 968 branches vs. 935 branches in Q4FY24. 750 680 742 747 750 ❑ Urban Retail business (MSME and Housing) opera
Slide 31: Network: Presence In Major Growth Centres
Network Presence In Major Growth Centres Urban Retail, CF, and Car Loan Gold Loan Branches Distribution 750 Branches in 9 States & UTs 218 Branches in 12 States & UTs 99 3 22 58 2 4 166 83 89 20 117 30 48 102 3 5 7 92 4 5 8 1 Note: Political map of India not to scale Note: Political map of India not
Slide 32: Financials
Financials C A P R I G L O B A L 31
Slide 33: CGCL Consolidated Income Statement: Quarterly Comparison
CGCL Consolidated Income Statement Quarterly Comparison Particulars Q1FY25 Q1FY24 Y-o-Y (%) Q4FY24 Q-o-Q (%) ₹ Mn except stated Interest earned 5,724 4,137 38% 4,977 15% Interest expended 2,711 1,767 53% 2,425 12% Net interest income 3,013 2,370 27% 2,552 18% Non-interest income 1,089 805 35% 1,161
Slide 34: CGCL Consolidated Balance Sheet: Quarterly Comparison
CGCL Consolidated Balance Sheet Quarterly Comparison* Particulars (INR Mn) Q1FY25 Q1FY24 YoY (%) Q4FY24 QoQ (%) ₹ Mn except stated Paid-up equity 825 412 100% 825 - Reserves and surplus 38,370 35,901 7% 37,541 2% Networth 39,195 36,314 7.9% 38,366 2% Bank borrowings and refinance 112,168 72,079 56%
Slide 35: CGCL Consolidated Income Statement: Annual Comparison
CGCL Consolidated Income Statement Annual Comparison Profit and Loss A/c FY20 FY21 FY22 FY23 FY24 ₹ Mn except stated Interest income 6,700 6,735 8,396 11,678 18,228 Interest expenses 2,828 2,887 3,308 5,317 8,359 Net interest income 3,872 3,848 5,087 6,361 9,869 New businesses contributing to robust
Slide 36: CGCL Consolidated Balance Sheet: Annual Comparison
CGCL Consolidated Balance Sheet Annual Comparison* Balance Sheet FY20 FY21 FY22 FY23 FY24 ₹ Mn except stated Liabilities Paid-up equity 350 351 351 412 825 Reserves 15,042 16,822 18,873 35,242 37,541 Ample Networth 15,392 17,173 19,225 35,655 38,366 leverage room to continue Borrowings 28,366 37,689
Slide 37: CGCL Consolidated Earnings: Du Pont Analysis
CGCL Consolidated Earnings Du Pont Analysis RoA Tree (%) FY20 FY21 FY22 FY23 FY24 Interest income 15.4 13.1 13.0 13.6 13.5 Interest expenses 6.5 5.6 5.1 6.2 6.2 Net interest income 8.9 7.5 7.8 7.4 7.3 Other income 1.0 1.2 1.9 3.2 2.8 Fees 0.9 1.2 1.7 1.4 0.8 Other income 0.1 0.0 0.2 1.8 2.0 Net inco
Slide 38: Shareholding
Shareholding ❑ Market capitalization1 : ₹ 177bn | US$ 2.1bn2 ❑ Cons. Networth3 (Q1FY25) : ₹ 39.2bn Promoter Group 15.00% ❑ Paid-up Equity : ₹ 824.9mn 15.12% Institutional ❑ FV4 : ₹ 1 Shareholders Note: 69.89% Other Public 1. Market capitalization NSE on 28th June‘24. Shareholders 2. 1 US$ = ₹ 83.37
Slide 39: Leadership
Leadership C A P R I G L O B A L 38
Slide 40: Board of Directors
Board of Directors Independent Board Guides Executive Management Lingam Venkata Prabhakar, Rajesh Sharma, Chairman & Independent Director Managing Director Ex-MD & CEO Canara Bank and ex-ED Founder & Promoter with over 2.5 Punjab National Bank; rich experience in decades of experience; Chartered ban
Slide 41: Leadership Team (1/2)
Leadership Team (1/2) Experienced Senior Management Retail Business Risk Management Ravish Gupta Magesh Iyer Sanjeev Srivastava (Business Head – Gold Loans) (Chief operating Officer) (Chief Risk Officer) Ex-IIFL Finance, GE Money, HDFC Ex-Incred Finance, Reliance Ex-IIFL Finance, GE Money, ICICI Ban
Slide 42: Leadership Team (2/2)
Leadership Team (2/2) Experienced Senior Management Corporate Functions Technology & Data Analytics Divya Tarun Aggarwal Vivek Jain (Director – Business Strategy) (Group Chief Technology Officer) (Chief Human Resources Officer) Ex-Viteos Capital Market and XL Ex-Paytm, spearheaded many Ex- Kotak Mah
Slide 43: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Capri Global Capital Limited (the “Company”), have been prepared solely for information purposes only and does not constitute any offer or invitation, directly or indirectly, in any manner, or
Slide 44: Thank You
Thank You For Further information, please contact : For Further information, please contact : Ravikant Hardik Bhat Doshi Sheetal Khanduja Rajat Gupta Sheetal Khanduja Rajat Gupta ravikant.bhat@capriglobal.in investor.relation@capriglobal.in sheetal@GoIndiaAdvisors.com rajat@GoIndiaAdvisors.com sheet
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