Muthoot Capital Services Ltd. · NSE:MUTHOOTCAP
Muthoot Capital Services — Q3 FY2023 Earnings Presentation
32 slides from Muthoot Capital Services's earnings presentation, Feb 9, 2023
Slide 1: Filing cover letter to stock exchanges
MCSL/SEC/22-23/199 February 09, 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 Dear Sir/Madam, Sub: Inv
Slide 2: Investors Presentation for the Quarter ended 31st December 2022
Investors Presentation for the Quarter ended 31st December 2022 1
Slide 3: Contents
CONTENTS 1. Operational Highlights 03 – 06 2. Performance Analysis 07 – 14 3. Sales and Collection Analysis 15 – 19 4. Asset Analysis 20 – 27 5. Liability Analysis 28 – 30
Slide 4: Operational Highlights Q3 FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Total Income Total Expense PAT Q3 FY 23: ₹ 112.82 AUM Q3 FY 23: ₹ 85.28 Crs Q3 FY 23: ₹ 19.66 Crs Crs Q3 FY 23: ₹ 2141 Cr 9M FY 23: ₹ 257.29 9M FY 23: ₹ 52.27 Crs 9M FY 23: ₹ 329.01 Q2 FY 23: ₹
Slide 5: Our geographical presence is spread across 20 states
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis OUR GEOGRAPHICAL PRESENCE IS SPREAD ACROSS 20 STATES 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 23.89% 3.94 times Upgraded to A+ Attrition Rate Q3 4% EPS 32.05 Stable by CRISIL Average LTV 80% ROA-3.70% Cost of Borrowing Q3 ROE 18.3% 9.18%
Slide 7: Operational Highlights Performance
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Disbursement Gross AUM Revenue Q2 FY 23 : ₹ 298.4 Cr Q2 FY 23: ₹ 2041.7 Cr Q2 FY 23: ₹ 109.7 Cr 2.8% 38.2% 4.9% Q3 FY 23 : ₹ 412.3 Cr Q3 FY 23: ₹ 2141.0 Cr Q3 FY 23: ₹ 112.8 Cr Q3 FY 22: ₹ 2019.
Slide 8: Financial Performance – Quarterly & Yearly
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis FINANCIAL PERFORMANCE – QUARTERLY & YEARLY ₹. In Crores Quarterly Trend Yearly Trend Financial Statement Metrics Q3 FY 23 Q3 FY 22 Y-o-Y Q2 FY 23 9M FY23 9M FY22 Y-o-Y Disbursement : Retail Loan
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-Dec-22 30-Sep-22 31-Dec-21 Application 31-Dec-22 30-Sep-22 31-Dec-21 Share Capital 16.4 16.4 16.4 Fixed Assets 1.7 1.7 2.2 R
Slide 10: Disbursements, AUM and Average LTV
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis DISBURSEMENTS AUM 2141 100% 0% 0% 2150 412.39 80% 2100 60% 100%2042 100% 2050 325.46 40% 291.36 2000 20% 0% 1950 Q2FY23 Q3FY23 On book Off book AUM Average LTV Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2
Slide 11: Revenue, Net Interest Income, Opex and Loan Loss Provisions
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Revenue (in ₹ crores) Net interest income (in Crores) 73.7 74.7 75.1 67.7 73.7 57.7 60.0 56.7 109.7 112.8 109.6 107.8 106.4 97.9 99.3 93.0 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 21 Q
Slide 12: Profit after Tax, EPS, ROA/ROE and Capital Adequacy
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Profit after tax (in Crores) Earning per Share (in ₹) 11.1 12.0 19.7 9.0 8.0 18.3 5.5 2.7 14.3 8.9 4.5 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q
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 3.9 440.0 559. 6 4.2 550. 7 544. 8 541. 3 536. 7 536. 6 500.0 4.0 520.9 3.8 3.8 3.7 3.6 3.5 3.5 3.4 400.0 420. 4 3.2 402. 1 387. 7 300.0 200.0 100.0
Slide 14: Spread Analysis
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis SPREAD ANALYSIS 60.00% 21.50% 50.00% 21.00% 40.00% 20.50% 30.00% 20.00% 20.00% 10.00% 19.50% 0.00% 19.00% -10.00% 18.50% -20.00% 18.00% -30.00% -40.00% 17.50% -50.00% 17.00% Q4FY21 Q1FY22 Q2FY22
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% 19.53% 20.00% 19.20% 17.50% 17.30% 16.30% 16.50% 15.00% 10.30% 9.54% 9.00% 9.00% 9.18% 10.00% 8.90% 8.70% 8.69% 8.74% 5.0
Slide 16: Business Update
Business Update fri muthoot CAPITAL
Slide 17: Quarterly Disbursement Trend
Quarterly Disbursement Trend | Overall Business (Value in ₹ Cr) Overall Business (Value in ₹ Cr) Overall Business (units) 400.0 361.4 325.5 291.4 350.0 310.2 308.6 304.4 178.5 293.2 39.1 50.8 8.4 300.0 267.9 41.2 39.3 35.3 41.7 31.4 250.0 282.9 200.0 182.9 106.1 135.6 35.7 286.4 150.0 269.3 269.1 26
Slide 18: Collections
Collections fri muthoot CAPITAL
Slide 19: 90+ NPA Trend (POS) Quarterly
90+ - NPA Trend (POS) | Quarterly 90+ - NPA Trend (POS ₹ in Cr) 520 30.00% -9.51 Rs. Crs 510 25.93% 25.27% 25.00% 23.60% 500 21.86% 20.00% -9.61 Rs. Crs 490 480 15.00% 515.43 509.32 -12.17 Rs. Crs 470 10.00% 486.14 460 5.82% 471.96 466.67 5.00% 450 5.27% 4.50% 3.64% 440 0.00% FY'22 Q4 FY'23 Q1 FY'23
Slide 20: Collection Performance Monitoring
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis COLLECTION PERFORMANCE MONITORING- TOTAL MONTHLY COLLECTION AGAINST MONTHLY BILLING 120.0% 100.0% 80.0% 60.0% 40.0% 20.0% 0.0% Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-
Slide 21: MCSL Geographic Overview – Retail Loans
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis MCSL GEOGRAPHIC OVERVIEW – RETAIL LOANS INCLUDING LOAN BUYOUTS 100% 0% 1400 Total Zone Zone 90% 21% Active 1201.7 1200 Zone AUM wise wise 32% Clients 80% 37% 41% (Crs) AUM % NPA % 70% 1000 South
Slide 22: Retail Portfolio Split as on 31st December 2022
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis RETAIL PORTFOLIO SPLIT AS ON 31st DECEMBER 2022 Segment wise No . of loans Amount Transaction Type No of Transactions Amount 2W 4,69,155.00 2,001.85 Securitized (part of own 9 549.77 book) 4W 2,
Slide 23: 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 23.0% Segment – wise Analysis 467 1999 36 77.0% 77.0% 86.0% 23.0% 14.0% 1568 Two Wheeler Four Wheeler & O
Slide 24: Zonewise Disbursement
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ZONEWISE DISBURSEMENT (RETAIL LOANS INCLUDES CO LENDING) Q3FY 22 Q3FY 23 ₹ 325.46 Cr ₹ Cr 412.39 41 % Share of Branch and Dealer of zone-wise disbursement 35.7% 8.6% 12.0% Branch Branch HO Deale
Slide 25: Corporate Loan Movement – Q3FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis CORPORATE LOAN MOVEMENT – Q3FY23 ₹. In Crores Particulars Corp loan Nos Balance Balance as on 30.09.2022 27 96.53 Add: Addition during Q3FY23 4 50.5 31 147.03 Less: Loans closed during Q3FY 23 3
Slide 26: 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 31.12.2022 31.12.2021 30.09.2022 25.00% Own Book 21.30% 2,136.20 2011.31 2036.3 21.28% Portfolio 20.00% O
Slide 27: Liquidity Position
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis LIQUIDITY POSITION ₹. In Crores Particulars Jan-23 Feb-23 Mar-23 Q4 FY 2023 Opening Balance 258 82 303 97 284 22 258 82 Inflows New Funding / Borrowings 50 40 40 40 51 20 New funding through PTC
Slide 28: ALM as on 31.12.2022
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis ALM AS ON 31.12.2022 ₹. In Crores 7M to 1 to 3 3 to 5 Particulars 1M 2M 3M 4M to 6M Over 5 years Total 12M Years Years A. OUTFLOWS Capital Reserves & Surplus - - - - - - 446.67 446.67 Deposits 3
Slide 29: Shareholding Pattern as on Q3 FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis Shareholding Pattern as on Q3 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 30: Sources of Borrowing
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis SOURCES OF BORROWING Additional Facilities sanction – ₹ 2.62Cr ₹ 147 Crs PTC from DCB and ₹ 377Cr Collections of Public HDFC in Dec ’22 IDFC First Bank Sanctioned 70Crs Additional Facilities rec
Slide 31: Borrowing Profile – By Instrument Q3 FY23
Operational Performance Sales & Collection Asset Liability Highlights Analysis Analysis Analysis Analysis BORROWING PROFILE – BY INSTRUMENT Particulars Q3 FY ’22 Q2 FY ’23 Q3 FY ’23 Amount Cost* Amount Cost* Amount Cost* Bank Loan 1490.3 8.52% 961.4 9.00% 986.8 9.24% Sub debt 43.9 11.13% 13.6 11.00%
Slide 32: Thank You
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Muthoot Capital Services — Q3 FY2023 Earnings Presentation on 6ix