Repco Home Finance Ltd. · NSE:REPCOHOME
Repco Home Finance — Q1 FY2024 Earnings Presentation
26 slides from Repco Home Finance's earnings presentation, Aug 4, 2023
Slide 1: Stock exchange cover letter for investor presentation
RHFL/SE/26/2023-24 4th August, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai-400001 Bandra (E), Mumbai- 400051 BSE Security Code: 535322 NSE Symbol: REPCOHOME Kind Attn: Listing Department
Slide 2: Earnings Presentation Q1FY24
Repco Home Finance Limited Earnings Presentation Q1FY24 www.repcohome.com Earnings Presentation August 2023
Slide 3: Agenda
Agenda Repco Home Finance Limited Q1FY24 Performance ► Business summary ► Financial performance ► Borrowing Profile Geographic Presence ► Footprint ► Region-wise loan book Annexure Earnings Presentation August 2023 2
Slide 4: Q1FY24 Performance
Repco Home Finance Limited Q1FY24 Performance Earnings Presentation August 2023 3
Slide 5: Business Summary
Business Summary Repco Home Finance Limited Loans Outstanding Net Worth Total Capital Adequacy Rs. 126,554 Mn Rs. 24,050 Mn Ratio 36.1% Average loan per unit Number of live accounts Employee strength Rs. 1.2 Mn 105,503 954 GNPA – 5.5% ECL provision – 4.2% Earnings Presentation August 2023 4
Slide 6: Business performance momentum
Business performance momentum Repco Home Finance Limited Figures in Rs million 12,000 ^ 9,662 10,000 ^ 8,295 8,352 8,000 * * 7,455 7,450 7,258 6,909 6,962 6,843 6,422 6,000 4,000 2,000 - Q1 Q2 Q3 Q4 Q1 FY23 FY24 Sanctions Disbursements * Includes DA pool purchase of Rs. 706.8 Mn. ^ Includes DA pool
Slide 7: Key Indicators – Q1FY24 vs Q1FY23
Key Indicators – Q1FY24 vs Q1FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q1FY24 7,258 6,843 1,619 5% 7% 18% Q1FY23 6,909 * 6,422* 1,370 * Includes DA pool purchase of Rs. 706.8 Mn. Operating Revenue PBT PAT Q1FY24 3,645 1,198 891 21% 42% 44% Q1FY
Slide 8: Key Indicators – Q1FY24 vs Q4FY23
Key Indicators – Q1FY24 vs Q4FY23 Repco Home Finance Limited Figures in Rs million Sanctions Disbursements Net Interest Income Q1FY24 7,258 6,843 1,619 25% 18% 5% ^ ^ Q4FY23 9,662 8,352 1,547 ^ Includes DA pool purchase of Rs. 665.6 Mn. Operating Revenue PBT PAT Q1FY24 3,645 1,198 891 7% 7% 9% Q4FY2
Slide 9: Asset Book
Asset Book Repco Home Finance Limited Figures in Rs million Sanctions and Disbursements Loan Book 12,000 140,000 124,492 126,554 9,662 118,619 10,000 120,000 8,352 8,000 6,9096,422 7,2586,843 100,000 6,000 80,000 4,000 2,000 60,000 - 40,000 Q1FY23 Q4FY23 Q1FY24 20,000 Sanctions Disbursements Q1FY23
Slide 10: Income and earnings growth
Income and earnings growth Repco Home Finance Limited Figures in Rs million Income from Operations Net interest income 4,000 3,645 1,700 1,619 3,403 1,547 3,500 3,023 1,500 1,370 3,000 2,500 1,300 2,000 1,100 1,500 900 1,000 500 700 - 500 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Net profit Net wort
Slide 11: Operating cost
Operating cost Repco Home Finance Limited Figures in Rs million Employee Cost Other Opex 237 237 180 250 155 160 141 203 136 200 140 120 150 100 80 100 60 40 50 20 0 0 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Cost to Income Ratio 25.00% 22.73% 22.85% 22.85% 20.00% 15.00% 10.00% 5.00% 0.00% Q1FY23 Q
Slide 12: Profitability ratios
Profitability ratios Repco Home Finance Limited Net Interest Margin Spread 5.5% 3.3% 5.1% 3.4% 3.3% 5.0% 5.0% 3.2% 4.6% 3.0% 3.0% 4.5% 2.8% 4.0% 2.6% 2.4% 3.5% 2.2% 3.0% 2.0% Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Return on Equity Return on Assets 18.0% 3.0% 2.8% 15.8% 2.7% 16.0% 14.4% 2.5% 14.0%
Slide 13: Asset Quality
Asset Quality Repco Home Finance Limited 7.0% 6.4% 6.5% 6.2% 5.8% 6.0% 5.5% 5.0% 4.0% 4.2% 3.8% 3.0% 3.0% 3.4% 2.8% 2.0% 1.0% 0.0% Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 GNPA NNPA Earnings Presentation August 2023 12
Slide 14: Product mix / Occupation wise GNPA(%)
Product mix / Occupation wise GNPA(%) Repco Home Finance Limited 9.0% 8.5% 8.0% 7.1% 7.0% 7.0% 6.4% 5.9% 5.8% 5.5% 6.0% 5.4% 5.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Home Loan Home Equity Overall Q1FY23 Q4FY23 Q1FY24 10.0% 9.3% 9.0% 8.4% 7.9% 8.0% 7.0% 6.4% 5.8% 5.5% 6.0% 5.0% 4.0% 3.5% 3.0% 2.8% 3.0% 2.0
Slide 15: ECL provision
ECL provision Repco Home Finance Limited Figures in Rs million Q1FY23 Q4FY23 Q1FY24 Gross Stage 3 7,631 7,187 6,947 % portfolio in Stage 3 6.4% 5.8% 5.5% ECL provision - Stage 3 2,804 3,566 3,571 Net - Stage 3 4,827 3,621 3,376 Coverage ratio - Stage 3 36.7% 49.6% 51.4% Gross Stage 1 & 2 110,988 117
Slide 16: Borrowing profile
Borrowing profile Repco Home Finance Limited % change Source (Rs Mn) Average cost Q1FY23 Q4FY23 Q1FY24 (Y-o-Y) National Housing Bank 7.38% 17,939 14,870 14,736 -18% Repco Bank 8.15% 9,090 10,905 10,920 20% Commercial Banks 8.38% 66,090 73,371 73,046 11% Total 8.21% 93,119 99,146 99,062 71% 74% 74% 1
Slide 17: Movement in borrowing cost
Movement in borrowing cost Repco Home Finance Limited 8.4% 8.2% 8.2% 8.1% 8.2% 8.1% 8.0% 7.8% 7.8% 7.8% 7.7% 7.6% 7.4% 7.4% 7.4% 7.2% 7.2% 8.2% 7.2% 7.1% 8.0% 7.0% 7.7% 7.3% 7.3% 7.4% 6.8% 7.2% 7.2% 7.2% 7.3% 7.1% 7.1% 6.6% 6.4% Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 M
Slide 18: Geographic Presence
Repco Home Finance Limited Geographic Presence Earnings Presentation August 2023 17
Slide 19: Network
Network Repco Home Finance Limited Present in 12 states and 1 Union Territory with 159 branches and 34 satellite centers. Additionally, we have 2 asset recovery branches. Presence beyond South: branches in West Bengal, Orissa, Maharashtra, Gujarat, Madhya Pradesh & Rajasthan. Network 179 180 1
Slide 20: Region-wise loan book
Region-wise loan book Repco Home Finance Limited Kerala, 3% Others, 4% Gujarat, 3% Telangana, 5% Andhra Pradesh, 6% Tamil Nadu, 57% Maharastra, 9% Karnataka, 13% Exposure Annualised Growth States Q1FY23 Q4FY23 Q1FY24 Y-o-Y Q-o-Q Tamil Nadu 56% 57% 57% 8% 6% Karnataka 13% 13% 13% 5% 8% Maharastra 10%
Slide 21: Annexure
Repco Home Finance Limited Annexure Earnings Presentation August 2023 20
Slide 22: Shareholding pattern
Shareholding pattern Repco Home Finance Limited Outstanding shares – 62.6 Mn Foreign Portfolio NRIs, 1.5% Others, 1.8% Major Non-Promoter Shareholders % Investors, 13.3% Alternative HDFC Mutual Fund 8.7% Investment Promoters, Funds, 0.9% Aditya Birla Sun Life Mutual Fund 5.6% 37.1% Fidelity Asian Va
Slide 23: Profit and loss statement
Profit and loss statement Repco Home Finance Limited Figures in Rs million (Rs. Million) Q1FY24 Q1FY23 YoY (%) Q4FY23 QOQ (%) Income: Revenue from operations 3,645 3,023 21% 3,403 7% Other income 20 47 -57% 34 -41% Total Income 3,665 3,070 19% 3,437 7% Expenses: Interest and other financial charges
Slide 24: Relative performance – Y-o-Y
Relative performance – Y-o-Y Repco Home Finance Limited Particulars Units Q1FY23 Q1FY24 Sanctions Rs. Mn 6,909 7,258 Disbursements Rs. Mn 6,422 6,843 Net interest income Rs. Mn 1,370 1,619 PAT Rs. Mn 621 891 NIM % 4.6 5.1 Yield on assets % 10.2 11.6 Cost of funds % 7.0 8.2 Spread % 3.3 3.3 Return on
Slide 25: Relative performance – Q-o-Q
Relative performance – Q-o-Q Repco Home Finance Limited Particulars Units Q4FY23 Q1FY24 Sanctions Rs. Mn 9,662 7,258 Disbursements Rs. Mn 8,352 6,843 Net interest income Rs. Mn 1,547 1,619 PAT Rs. Mn 821 891 NIM % 5.0 5.1 Yield on assets % 11.1 11.6 Cost of funds % 8.1 8.2 Spread % 3.0 3.3 Return on
Slide 26: 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