EQUITAS HOLDINGS LIMITE
Q1 FY20results
Equitas
Holdings Limited [EHL] announcedUnauditedConsolidated
resultsfor the quarter ended June 30, 2019:
Highlights:
·
The Board
constituted committee has submitted the scheme of arrangement with the stock
exchanges and SEBI and we are awaiting regulatory approvals for filing the Scheme
of Arrangement with NCLT for their approval for the listing of the Bank.
·
Equitas
Small Finance Bank has appointed Mr. NavinPuri as an Independent Director. Mr.
NavinPurirecently retired as the Country Head Branch Banking from HDFC Bank.
The addition of Mr. Puri will further strengthen the Bank’s board as he comes
with immense experience in Banking having spent over 2 decades at HDFC Bank.
Quarterly Highlights (iGAAP):
1.
Key
Highlights for Q1FY20:
·
NII grew 35% YoY to Rs. 344cr, NIM*at 8.62%
·
Profit before Provision grew66% to Rs. 126cr, cost
to income at 68.62% as compared to 75.89% in Q1FY19
·
PAT grew 75% YoY to Rs. 61.92cr as compared to Rs. 35.38cr
in Q1FY19
·
Advances grew 38% YoY to Rs. 12,355cr
·
Unsecured lending constituted 30% of total
portfolio
·
Deposits* grew by 52% YoY to Rs. 8,670cr. CASA
ratio at 26%
·
Customer Deposits as a % of Total Borrowings stands
at a healthy 63.30%
·
Capital Adequacy at 21.49% with Tier I ratio at 20.11%
*Deposits excluding CD’s | NIM = Net interest
income as a % of avg. income earning assets | Customer Deposits = Deposits
excluding CD
2. Profit & Loss:
·
Net Interest Income grew by 35% YoY to Rs. 344cr,
NIM*at 8.62%
·
Liability Fee Income grew 29% YoY to Rs. 17
cr.
·
Cost to Income ratio at 68.62% as compared to 75.89%
in Q1FY19
·
Cost to Assets stood at 6.68%.
·
Provisions and loan loss charges at Rs. 30.57cr. PCR
stood at 44.0%.
·
PAT at Rs. 61.92cr as compared to Rs. 35.38cr in Q1FY19,
a growth of 75%.
·
Return ratios for Q1FY20: ROAat 1.50%. ROEat9.79%
3.
Balance
Sheet:
Advances:
·
Advances grew 38% YoY to Rs. 12,355 cr
o
Micro Finance grew 29% YoY to Rs. 3,124 cr
o
Small Business Loans (Incl. HF) grew 53% YoY to Rs.
5,025cr
o
Vehicle Finance grew 28% YoY to Rs. 3,042 cr
o
Working Capital loans for MSEsgrew 324% YoY to Rs. 280cr
o
Unsecured Business Loans consciously reduced to Rs.
292 cr
o
Financial Institution &Corporate Loans grew 118%
YoY to Rs. 555cr
·
Disbursements grew 5% YoY to Rs. 2,018cr
4.
Liabilities
& Branch Banking:
·
Deposits* grew by 52% YoY to Rs. 8,670 cr. CASA
ratio at 26%
·
Customer Deposits as a % of Total Borrowings stands
at a healthy 63.30%
·
Retail momentum picks up
o
No of Retail Term deposits accounts stood at 1,43,040as
compared to 1,06,955in Q4FY19
o
Retail Term deposits#grew by Rs. 619 Cr
to Rs. 3,027cr vs. Rs. 2,408crin Q4FY19
o
No of Retail CASA$ customers stood at 4,95,355as
compared to 4,77,053 in Q4FY19
o
CASA stood at Rs. 2,235cr representing 16.32% of
total borrowing
·
Bank mobilised over Rs. 42.84crin Insurance premium.
Mutual Fund Assets under management crosses Rs. 113cr.
5.
Asset
Quality:
·
GNPA at 2.75% as compared to 2.52% in Q4FY19 and
2.84% in Q1FY19
·
NNPA at 1.54% as compared to 1.43% in Q4FY19 and
1.51% in Q1FY19
*Deposits
excluding CD’s | NIM = Net interest income as a % of avg. income earning assets
| Customer Deposits = Deposits excluding CD | #Retail TD < Rs. 10
Cr | $ Retail CASA < Rs. 1 Cr
Results
Conference Call Details
We will hold an earnings conference call on 05th
August 2019, Monday at 04:00 pm IST to discuss quarterly performance.
Transcript of the call will be available later in the Investor Relations
section of our website https://www.equitas.in/
Please dial the numbers at least 5-10 minutes
prior to the conference schedule to ensure that you are connected on time.
Conference Call Primary Number: +91 22 6280
1102/ +91 70456 71221
About Equitas Holdings Limited [EHL]
Equitas
Holdings Limited (‘the Company’) is a Non-Deposit Taking Systemically Important
- Core Investment Company – (CIC-ND-SI) registered with The Reserve Bank of
India. The activity of the Company is making investment in subsidiary
companies and providing loans to them. It has no other operations.
The Company has the
following Wholly Owned Subsidiaries:
·
Equitas
Small Finance Bank Limited, licensed under Section 22 of the Banking
Regulations Act, 1949 to carry on the business of small finance bank;
·
Equitas
Technologies Private Limited [ETPL], a Company registered under the Companies
Act, 2013 engaged in the business of freight aggregation.
About Equitas Small
Finance Bank Limited [ESFBL]
Equitas Small Finance Bank Limited is a Small
Finance Bank (SFB), licensed by Reserve Bank of India under Section 22 of the
Banking Regulation Act, 1949 to carry on the business of Small Finance
Bank. The Bank commenced the business of SFB on September 5, 2016. It is
the first Private Sector Bank from Tamil Nadu to commence operations post
Indian Independence.
ESFBL, with pan
India operations,is focussed on providing financing solutions for individuals
and micro and small enterprises (MSEs) that are underserved by formal financing
channels while providing a comprehensive banking and digital platform for
all.
For further details, contact:
Investor Relations Team
Twitter - @EquitasIR
Spencer
Plaza, 4th Floor, Phase II, # 769, Anna Salai, Chennai -600002
|
Annexure: Consolidated Unaudited Profit & Loss Statement (iGAAP)
Particulars (in Rs Cr)
|
Q1FY20
|
Q1FY19
|
YoY%
|
Q4FY19
|
QoQ%
|
Interest Income
|
|||||
Income from Loan
|
553.87
|
397.88
|
39%
|
524.68
|
6%
|
Income from Treasury
|
53.37
|
84.39
|
-37%
|
50.67
|
5%
|
Total Interest Income
|
607.24
|
482.27
|
26%
|
575.35
|
6%
|
Finance Cost
|
262.89
|
227.89
|
15%
|
242.29
|
9%
|
Net Interest Income
|
344.35
|
254.38
|
35%
|
333.06
|
3%
|
Other Income
|
|||||
Assets Fee Income
|
40.65
|
38.15
|
7%
|
45.45
|
-11%
|
PSLC Income
|
-
|
7.04
|
-
|
7.04
|
-
|
Liabilities Fee Income
|
16.79
|
13.01
|
29%
|
15.76
|
7%
|
Gain/Loss on Sale of Investment
|
0.39
|
2.97
|
-87%
|
0.08
|
388%
|
Total Other Income
|
57.83
|
61.17
|
-5%
|
68.33
|
-15%
|
Net Income
|
402.18
|
315.55
|
27%
|
401.39
|
0.2%
|
Operating Expenditure
|
|||||
Employee Cost
|
167.26
|
138.14
|
21%
|
147.29
|
14%
|
Other Admin Cost
|
85.46
|
78.81
|
8%
|
96.74
|
-12%
|
PSLC Expenses
|
-
|
-
|
-
|
7.35
|
-
|
Depreciation
|
23.28
|
22.53
|
3%
|
23.76
|
-2%
|
Total Opex
|
276.00
|
239.48
|
15%
|
275.18
|
0.3%
|
Profit Before Provision
|
126.19
|
76.07
|
66%
|
126.26
|
-0.1%
|
Loan Loss Provision and Write off
|
30.57
|
20.90
|
46%
|
24.88
|
23%
|
Profit Before Tax
|
95.62
|
55.17
|
73%
|
101.39
|
-6%
|
Tax
|
33.70
|
19.78
|
70%
|
32.66
|
3%
|
Profit after Tax
|
61.92
|
35.38
|
75%
|
68.73
|
-10%
|
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