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Business Highlights:
Assets Under Management at 11,893 Crores vs 9,615 Crores, a growth of 24% YoY.
Disbursements at 1,093 Crores in Q1 FY23 vs 462 Crores, growth of 136% YoY.
Profit After Tax at 89 Crores vs 59 Crores YoY.
Net Interest Margin at 7.67%.
The Average Amount per Active Loan Account as on Jun-22 is 8.66 Lakhs.
The Average Amount per Disbursed Loan Account in 3MFY23 is 9.7 Lakhs.
The Average tenor of outstanding borrowing in months is at 127 Months as of 30 June 2022.
The company has a total high-quality liquidity position of 2,291 Crores as of 30 June 2022.
Book Value per share at 367.9 in Q1 FY23 vs 314.4 YoY.
The company will take all the required measures and strive to control the 1+ DPD below 5 percent.
The housing penetration is at a very low level in India, which gives a large opportunity to the company and a huge runway for growth.
The company is confident of achieving a 20-25% growth in the overall business going forward. And the overall spread will be maintained in the range of 5%.
Cash flows level for the company are now getting stronger for the company.
The Total Number of Love accounts stood at 1,58,979 as of 30 June 2022.
Portfolio Yield at 12.67% in the June 2022 quarter.
Net Spreads at 5.81% in Q1 FY23.
Opex Ratio is at 3.56% in the June 2022 quarter. It is at a higher level when compared YoY and QoQ.
The Return on Assets at 3.17% while Return on Equity at 12.49% in Q1 FY23.
The company is having a strong Capital Adequacy Ratio with Tier 1 ratio of 49.80% as of 30 June 2022.
Borrowings:
Total Borrowings is at 11,893 Crores as of 30 June 2022.
Out of the total borrowings, Floating borrowings is at 7,010, while Fixed rate borrowings stand at 3,465 Crores.
Incremental Q1 FY23 borrowings at 898 Crores for 121 months at 5.65%.
The company has no exposure to commercial papers.
Total Borrowing is at 6.8% in the Q1 FY23 Quarter.
Asset Quality:
Gross stage 1,2 and 3 is at 9,656 Crores as of 30 June 2022.
ECL Provision is of 64 Crores.
Total ECL Provisions is at 0.67%.
Gross NPA at 1.08% vs 1.14% YoY.
Credit Rating:
The Long-term credit ratings continue to maintain at AA+ with a positive outlook from both the rating agency: ICRA and CARE.
The company has zero exposure to commercial paper as a prudent borrowing practice.
Branches and Employees:
The total number of Branches at 318.
34 new Branches were added in the last 12 months.
5,389 Employee count during the financial year 2022, a growth of 20% YoY.
Expenses Trend:
The company is into the expansion phase. Every year the company is opening ~30 branches during the year. This is resulting in higher expenditure. Also, digital growth will require higher investments.
The company will be scaling its digital and technical infrastructure which will result in higher investments. This transformational journey will be completed in the next 12-15 months according to the company’s guidance.
The company was able to reduce the opex by 30-35 bps during the pre-pandemic period. But due to the covid and the lockdowns the company was not able to take advantage of the operating leverage.
In this fiscal year, the company to get a 30-35bps cost-efficiency improvement in the overall OPEX ratio.
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