Sammaan Capital Ltd · NSE:SAMMAANCAP
Sammaan Capital — Investor Presentation (September 2020)
15 slides from Sammaan Capital's investor presentation, Sep 3, 2020
Slide 1: Investor Presentation Sep 2020
Investor Presentation Sep 2020
Slide 2: Objective of Proposed Equity Capital Raise
Objective of Proposed Equity Capital Raise For Ratings Upgrade: The main concern of rating agencies has been access to funding and diversity in sources of funding. Access to both equity and debt markets is important for ratings. • IBH has already demonstrated its access to debt markets by raising $
Slide 3: Performance Metrics
Performance Metrics Particulars Q1 FY20-21 Loan Book ₹ 73,129 Cr Net Debt to Equity 3.9x Q1FY21 PAT ₹ 273 Cr FY20 PAT ₹ 2,200 Cr CRAR 27.9% Yield on Loans 11.3% Cost of Borrowings 8.7% Book Spread 2.6% Cost to Income Ratio 14.0% Gross NPA 2.2% RoA [FY20] 1.9% RoE [FY20] 17.6% Robust profitability in
Slide 4: Funding Growth: FY21
Funding Growth: FY21 FY21 Long-term Borrowings 21,000 Retail Loan Sell Down 2,000 Developer loan refinance/ securitization 5,000 Total FY21 28,000 Debt Repayment [including pre-payment] 16,000 Growth Capital [for own balance sheet] 12,000 Amount in ₹ Cr • The Company plans to grow its balance sheet
Slide 5: Asset Quality & Provision Levels
Asset Quality & Provision Levels Q1 FY21 Q1 FY20 Gross Stage 3 2,042 1,662 % Portfolio in Stage 3 2.20% 1.47% ECL Provision Stage 3 525 416 Net Stage 3 1,517 1,246 Gross Stage 1&2 90,728 1,11,527 % Portfolio in Stage 1&2 97.80% 98.53% As per IND AS Amounts in ₹ Cr • Had the Company not chosen to de-
Slide 6: Granular Asset Liability Maturity Management
Granular Asset Liability Maturity Management 92,488 92,488 83,367 80,496 76,343 71,666 65,029 60,512 54,159 49,276 25,220 13,840 15,302 12,225 12,525 13,190 12,388 7,186 3,671 - 888 1,059 1d-14d 15d-1m 1m-2m 2m-3m 3m-6m 6m-1yr 1yr-3Yr 3Yr-5Yr 5Yr-7yr 7Yr-10yr 10Yr+ Assets Liabilities The ALM above i
Slide 7: Track Record from FY10 to FY20 & Beyond FY20
Track Record from FY10 to FY20 & Beyond FY20 • After the Global Financial Crisis, Company did QIP of ₹ 10.0 Bn in 2010 and for the next decade grew its business at a CAGR of 25% and distributed total of ₹ 282 per share in dividends to its shareholders [total of $ 1.5 Bn distributed in dividends in l
Slide 8: Retail Business Model [60% HL, 40% LAP]
Retail Business Model [60% HL, 40% LAP] Proportion of Origination 40% 40% 20% 100% On-Balance Sheet Retention 8% 4% 20% 32% Co-origination Sell Down Total On-Balance Sheet Onward Lending [20% on IBH Books] [10% on IBH Books] RoA HL LAP HL LAP HL LAP HL LAP Yield 9.10% 11.50% 8.10% 11.10% 8.50% 11.50
Slide 9: Developer Loan Business Model: Co-origination with Credit Funds
Developer Loan Business Model: Co-origination with Credit Funds On Fund’s Balance Sheet 80% On IBH Balance Sheet 20% Yield 15.0% • Pari passu risk sharing Cost of Funds for IBH 8.1% • Loan processing fee to IBH Spread for IBH 6.9% • Annual loan servicing fee to IBH Processing Fees [1.0% of Disbursal
Slide 10: Retail Loan Book of Highest Quality
Retail Loan Book of Highest Quality Portfolio performance of all sold down pools of ₹ 62,963 Cr Initial Pool Details of Initial POS Average Sold Down Pool Loan Pool Number of Disbursement Ticket Size Months on 180+ dpd Principal Principal Amortisation 90+ dpd % Type Pools [₹ Cr] [at disbursement] Bo
Slide 11: Asset-Light Model: Balance Sheet Growth of 3% v/s 23% AUM Growth
Asset-Light Model: Balance Sheet Growth of 3% v/s 23% AUM Growth Amounts in ₹ Bn FY20-24 FY20 FY21 FY22 FY23 FY24 4-Yr CAGR Net Worth 155 168 177 189 206 7% Borrowings 760 823 834 847 890 3% Other Liabilities 113 75 75 75 75 Total Liabilities 1,029 1,066 1,086 1,111 1,171 3% Loan Book 731 792 813 84
Slide 12: Asset-Light Model: 17% Growth in PAT & High Dividends
Asset-Light Model: 17% Growth in PAT & High Dividends Amounts in ₹ Bn FY20-24 FY20 FY21 FY22 FY23 FY24 4-Yr CAGR Interest Income 111 90 99 108 120 Cash & Fee Income 20 16 17 19 22 Total Income 131 105 115 127 142 Interest Expenses 85 70 73 74 76 Staff & Admin Cost 10 6 7 7 8 Credit Cost 11 8 8 8 6 T
Slide 13: Loan Book Movement
Loan Book Movement Amounts in ₹ Bn FY20-24 FY20 FY21 FY22 FY23 FY24 4-Yr CAGR AUM 930 1,020 1,215 1,523 1,902 23% Loan Book 731 792 813 842 899 4% Sold Down Book 199 212 331 510 712 Book with Co-origination Partner 0 17 71 172 292 Disbursals FY21 FY22 FY23 FY24 Co-origination 23 68 135 180 On-Balanc
Slide 14: Safe Harbour Statement
Safe Harbour Statement This document contains certain forward-looking statements based on current expectations of Indiabulls Housing Finance Ltd. management (“IBH”). These forward looking statements and any other projections contained herein are predictions and involve known and unknown risks, uncer
Slide 15: Thank you
Indiabulls HOUSING FINANCE Thank you
Sammaan Capital — Investor Presentation (September 2020) on 6ix