- Consolidated revenue for Q4FY21 was Rs 4,481 Cr
- Consolidated PAT in Q4FY21 was Rs 637 Cr; Ex-Insurance PAT was Rs 702 Cr
- Fee Income in Q4 FY21 was Rs 543 cr; above pre-Covid levels.
- Total retail credit collection in Q4 FY21 was Rs 1,120 cr which increase from Rs 1,078 cr in Q3 FY21
- Increased digital customer engagement has improved total retail collection efficiency to 96% in Mar’21
- Net worth at the end of FY21 is at Rs 8,542 Cr.
- Customer Assets up 35% YoY to INR 2,80,800 Cr in FY21
- Liquidity at the end of FY21 is around Rs 6800 cr
- Scaled down wholesale credit assets in ECL Finance - Wholesale Book down 35% from FY19 levels. Expected to reduce by ~ 50% by March’23; Successful workouts of INR 1,500 Cr in FY21
- Successfully closed PAG Partnership at a valuation of INR 4,400 Cr; Edelweiss will hold 38.5% stake in EWM with an option to increase it to ~44%
- Borrowings Declined By 41% YoY; borrowings in FY20 was Rs 33,754 cr which declined to Rs 25,695 cr in FY21
- Fixed cost in FY20 was around Rs 2,200 cr which declined to Rs 1,700 cr in FY21; YoY decline was 23%.
- Key saving drivers in FY21 - Fixed people cost which decreased by ~18% driven by process efficiencies; Premises Cost which is lower by ~40%, driven by branch and office space rationalisation
Edelweiss Group is diversified across 10 key entities
1. NBFC (ECL Finance Ltd. & Edelweiss Retail Finance Ltd.):
- Retail collection efficiency improved to 94% in Mar’21.
- Workouts on-going in wholesale book for recoveries and resolution.
- Total collections were at ~INR 650 Cr in Q4 FY21 and ~INR 2,050 Cr in FY21
- Disbursed ~INR 160 Cr in Q4 FY21 and ~INR 350 Cr in FY21.
- AUM in FY21 was around Rs 10,526 cr.
- Liquidity in FY21 was around Rs 2,300 cr.
- Capital Adequacy in FY21 was around 27.5%.
- Equity in FY21 was around Rs 3,837 cr.
- Credit Assets in FY21 were around Rs 15,238 cr.
- PAT in Q4 FY21 was Rs 132 cr and in FY21 was Rs 29 cr.
2. Housing Finance (EHFL):
- Maintained collection efficiency of 99% in Mar’21; Collections of ~INR 450 Cr in Q4FY21 and ~INR 1,500 Cr in FY21
- Disbursed ~INR 250 Cr in Q4FY21 and ~INR 450 Cr in FY21
- Raised ~INR 1,350 Cr in FY21: Raised ~INR 450 Cr from PCG and other schemes; Securitized book of ~INR 900 Cr
- Capital Adequacy in FY21 was around 26.5%.
- AUM in FY21 was around Rs 4,385 cr.
- PAT in Q4 FY21 was negative while in FY21 it was Rs 4 cr.
- Net worth in FY21 was around Rs 763 cr.
3. Asset Management (Mutual Fund and Alternative Asset Management):
- Crossed INR 10,000 Cr of equity assets
- Net equity inflows in Q4FY21 of ~INR 2,000 Cr against industry outflows of ~INR 4,500 Cr.
- MF equity gross sales in Q4 FY21 was around Rs 2,719 cr which grew from Rs 1,522 cr in Q3 FY21.
- AUM has nearly doubled in FY21; AUM in FY21 was around Rs 55,000 cr.
- Launched India’s first passively managed low-cost debt index fund
- Steady annuity income flows from long term asset base; 80% of AUM has tenor of more than 3 years
- Net revenue in Q4 FY21 was Rs 39 cr and in FY21 was Rs 120 cr.
- PAT in FY21 was Rs 5 cr.
Alternative Asset Management:
- FY21 is the largest fund raise year for Alternatives – Raised ~INR 6,600 Cr
- Closed Infrastructure Yield fund at ~INR 3,300 Cc.
- Deployed ~INR 2,800 Cr in Q4 FY21 with total deployment of ~INR 4,100 Cr in FY21.
4. Asset Reconstruction (EARC):
- Robust recoveries of ~INR 5,400 Cr in FY21 from 179 borrowers; Q4 FY21 recoveries at Rs 1,800 cr.
- Liquidity position of ~INR 540 Cr as on March 31, 2021
- AUM in FY21 was around Rs 40,800 cr.
- PAT in Q4 FY21 was Rs 45 cr and in FY21 was Rs 186 cr.
- Net revenue in Q4 FY21 was Rs 79 cr and in FY21 was Rs 340 cr
- Net worth in FY21 was around Rs 2,222 cr.
- Capital Adequacy in FY21 was around 37.4%.
5. Life Insurance:
- Crossed INR 400 Cr APE milestone for the first time; 25% YoY growth in Individual APE in FY21.
- Embedded Value as on March ‘21 at INR 1,256 Cr.
- Solvency ratio in FY21 was 215%.
- Policies issued in FY21 were 80,200.
- Policy holder’s AUM in FY21 was around Rs 3,981 cr.
- Individual Claims settlement ratio at 97%
- Total business in Q4 FY21 was around Rs 570 cr and in FY21 was Rs 1,866 cr.
- PAT was negative in FY21 i.e. -Rs 207 cr.
6. General Insurance:
- 49% YoY Gross Direct Premium Income (GDPI) growth in FY21 against Industry growth of 5%; taking the overall premium growth for FY21 to ~49% YoY.
- Solvency ratio in FY21 was 209%.
- Policies issued in FY21 were around 1,88,200.
- GWP in FY21 was Rs 226 cr.
- Equity was around Rs 119 cr.
- First within the industry to rollout open API gateway for the ecosystem of business partners & developers enabling Plug & Play integration
- Adoption of video-based remote survey app (BOLT) for motors claims stands at 47% in Q4FY21
7. Wealth management:
- AUA grew 36%YoY; Clients grew 22% YoY.
- Net revenue in Q4 FY21 was Rs 320 cr and in FY21 was Rs 1,043 cr.
- PAT in Q4 FY21 was Rs 65 cr and in FY21 was Rs 245 cr.
- Net worth in FY21 was around Rs 1,563 cr.
- 63 deals closed across ECM, DCM, and M&A in FY21.
- Maintained revenue yields within the range of 70-80 bps.
- Net new money in FY21 was around Rs 8,500 cr.
- 93% of revenue came from fee income in FY21.
7. Insurance Broking (Edelweiss Gallagher Insurance Brokers Ltd.): Insurance Broking partnered with Corporates and Insurance Companies to facilitate insurance products for the informal sector and frontline workers during the pandemic, placed premiums of ~INR 800 Cr in FY21.