Capri Global Capital Limited · NSE:CGCL
Capri Global Capital — Q2 FY22 Earnings Presentation
39 slides from Capri Global Capital's earnings presentation, Jan 14, 2022
Slide 1: Exchange disclosure letter: Investor Interaction and Q2FY22 presentation
January 14, 2022 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Pheeroze Jeejeebhoy Towers Exchange Plaza, 5th Floor Dalal Street, Fort Plot No- 'C' Block, G Block Mumbai - 400 001 Bandra-Kurla Complex, Bandra (East) Scrip Code: 531595 Mumbai – 400 051 Scrip Code: C
Slide 2: Q2FY22 Earnings Presentation
Responsible. Resilient. Ready. Q2FY22 Earnings Presentation 31st October 2021 CAPRIGLOBAL 1
Slide 3: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Capri Global Capital Limited (the “Company”) and no part of it shall form the basis of or be relied upon in connection
Slide 4: Q2FY22 Earnings Presentation
Q2FY22 Earnings Presentation CAPRIGLOBAL 3
Slide 5: Executive Summary: Key Highlights
Executive Summary : Key Highlights Consolidated Profit After Tax of Rs525mn (14% QoQ) in Q2FY22. First full quarter of operations post second lockdown; total disbursals Rs5,850mn (3.1x YoY and - 1.9x QoQ) ; AUM growth at 27% YoY. Strong and well-funded balance sheet; well positioned for a medium-ter
Slide 6: Business Update: AUM On Positive Growth Path
Business Update : AUM On Positive Growth Path AUM Segmental Break Up (INR Mn) Composition of AUM (%) MSME CF HF IRL MSME CF HF IRL 41,474 40,614 48,479 49,477 52,712 3,134 0.4% 3,145 4.5% 6.4% 6.4% 5.9% 3,079 13,219 24.7% 22.1% 1,868 169 12,153 23.8% 24.6% 25.1% 11,552 9,150 10,034 9,563 19.1% 22.1%
Slide 7: Disbursals: Disbursals Pick-up Pace
Disbursals : Disbursals Pick-up Pace Segmental Disbursals (INR Mn) Composition of Segmental Disbursals (%) MSME CF HF MSME CF HF 1,896 3,362 9,287 3,083 5,850 2,057 22.2% 24.3% 29.3% 27.1% 28.2% 2,960 19.5% 22.3% 31.9% 34.7% 1,420 37.6% 2,030 912 869 51.2% 50.6% 750 4,270 46.0% 41.0% 556 1,158 34.3%
Slide 8: Performance Matrix: Core Earnings Performance Remained Robust
Performance Matrix : Core Earnings Performance Remained Robust NII (INR Mn) Operating Profit (INR Mn) 825 789 811 1,180 782 1,054 1,104 944 920 616 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Credit Costs (INR Mn) PAT (INR Mn) 257 610 525 491 459 182 132 107 272 5 Q2FY21 Q3
Slide 9: Key Ratios: Segmental Yields Showing Softening Trend
Key Ratios : Segmental Yields Showing Softening Trend MSME Construction Finance Portfolio Yield Disbursal Yield Portfolio Yield New Sanctions 16.5% 16.3% 18.5% 18.5% 15.9% 18.2% 15.9% 15.8% 17.7% 17.3% 17.5% 16.9% 17.1% 15.9% 15.6% 15.7% 14.8% 14.7% 14.7% 14.4% 14.3% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY
Slide 10: Key Ratios: Spreads Stable
Key Ratios : Spreads Stable Yield on Advances (%) Cost of Funds (%) 16.1% 16.0% 9.2% 9.0% 15.3% 15.3% 15.1% 8.4% 8.2% 8.2% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Spreads (%) Net Interest Margin (%) 10.6% 7.1% 9.5% 9.3% 9.6% 8.6% 7.0% 7.0% 7.0% 6.9% Q2FY21 Q3FY21 Q4FY21
Slide 11: Operating Expenses: Stable Cost Ratios
Operating Expenses : Stable Cost Ratios Operating Expenses (INR Mn) Operating Expenses Composition (%) Employee Cost Other Opex Employee Cost Other Opex 32% 34% 26% 28% 163 37% 184 116 136 113 424 68% 66% 74% 72% 63% 313 323 243 268 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY
Slide 12: Key Ratios: Profitable Growth
Key Ratios : Profitable Growth Annualized Return on Equity (%) Annualized Return on Assets (%) 12.6% 12.4% 4.4% 11.8% 4.1% 11.1% 3.7% 3.4% 6.4% 2.0% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 EPS (Diluted) (INR) Book Value Per Share (INR) 103.2 3.46 100.6 2.97 2.78 2.60 98
Slide 13: Business Vertical & Liquidity Update
Business Vertical & Liquidity Update CAPRIGLOBAL 12
Slide 14: MSME Business Update
MSME Business Update Average Ticket Size (INR Mn) Live Accounts 17,135 16,141 15,888 1.70 1.70 14,053 13,057 1.60 1.60 1.50 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Loan to Value (%) (Incremental Disbursals) Geographical Distribution (Value-Wise) 1.7% 1.0% 1.2% Gujarat 5
Slide 15: Construction Finance Business Update
Construction Finance Business Update Average Ticket Size (INR Mn) No. of Projects Portfolio ATS Sanction ATS 133 179 172 158 126 135 123 121 75 76 114 68 69 72 72 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Geographical Distribution (Value-Wise) 3% 2% Mumbai MMR 4% 4% Ahmed
Slide 16: Housing Finance Business Update
Housing Finance Business Update Average Ticket Size (INR Mn) (Incremental Disbursals) Live Accounts 1.30 1.20 14,154 1.10 13,149 12,822 1.08 11,250 10,349 0.73 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Loan to Value (%) (Incremental Disbursals) Geographical Distribution (
Slide 17: Car Loan Distribution: Robust Fee Potential
Car Loan Distribution: Robust Fee Potential Scaled up to Team Expansion To Continue 186 locations since Feb’21 Pan-India coverage planned o Tie-ups with commercial banks to distribute their new car loan products for a fee consideration. Current tie-ups with IOB, YES, 9 and UNIONBANK. More tie-ups in
Slide 18: Liability Mix: Steady Diversification In Borrowings
Liability Mix : Steady Diversification In Borrowings 29,573 33,340 37,689 36,003 39,934 27,166 26,312 24,859 24,781 21,050 6,740 6,750 6,741 6,750 6,578 4,635 4,472 4,190 1,783 1,731 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 SCB Borrowings Refinance NCDs o Nil exposure to short-term money market instrument
Slide 19: Liquidity Position: Continue to Maintain Adequate Buffer
Liquidity Position : Continue to Maintain Adequate Buffer Particulars (INR Mn) CGCL (Standalone) CGHFL Consolidated Limits Sanctioned 34,650 18,650 53,300 Limits Availed 34,156 15,600 49,756 Un-Drawn 494 3,050 3,544 Repaid 7,313 3,690 11,003 Outstanding 26,843 11,910 38,753 Total no. of relationship
Slide 20: Liquidity Position: Repayment of High-Cost Loans
Liquidity Position : Repayment of High-Cost Loans Particulars (INR Mn) CGCL (Standalone) CGHFL Consolidated Dues during FY2021-22 (exc. Prepayments made in FY22)* 6,483 2,369 8,852 Payment made as per Schedule (A) 877 221 1,098 Prepayments made for the year (B) 2,768 1,362 4,130 Total repayments/pre
Slide 21: Asset-Liability Split: Maturity Buckets Are Well Balanced
Asset-Liability Split : Maturity Buckets Are Well Balanced* Asset-Liability Mix (INR Mn) - Ensuring Optimally Matched Balance Sheet 50,421 22,228 21,470 16,328 15,918 9,800 6,654 6,296 5,403 4,347 4,515 754 1,489 1,924 upto 1 month >1-3 months >3-6 months >6-12 months 1-3 years 3-5 years >5 years To
Slide 22: Asset-Liability Position: Well-Balanced for Short Term
Asset-Liability Position : Well-Balanced for Short Term* ALM Position : CGCL (Standalone) ALM Position : CGHFL Inflows Outflows Inflows Outflows 11.6 11.4 3.9 3.8 2.5 2.4 6.4 6.3 1.0 1.0 2.4 2.4 1.0 0.7 0.2 0.4 0.4 0.1 0 -7 D 8D - 14D 15D - 1M >1M - 3M >3M - 6M 0D - 14D 15D - 1M >1M - 3M >3M - 6M Fo
Slide 23: Asset Quality and Capital Adequacy Update
Asset Quality and Capital Adequacy Update CAPRIGLOBAL 22
Slide 24: Asset Quality: Consolidated Stage Analysis As per IND-AS
Asset Quality : Consolidated Stage Analysis As per IND-AS INR Mn except stated ECL Analysis As Per IndAS Q2FY22 Q1FY22 Q4FY21 Q3FY21 Q2FY21 Stage 1 & 2 - Gross 51,006 47,693 46,870 39,515 40,711 Stage 1 & 2 - ECL Provisions 918 823 730 603 320 Stage 1 & 2 - Net 50,089 46,870 46,140 38,912 40,391 Sta
Slide 25: Segmental NPAs: CF and Housing Finance Stable
Segmental NPAs : CF and Housing Finance Stable MSME (Net NPA negative in Q3FY21) Construction Finance (Net NPAs negative) GNPA NNPA 5.70% GNPA 5.50% 5.21% 0.21% 0.20% 0.20% 0.18% 0.17% 3.67% 3.17% 1.90% 1.70% 1.21% 0.32% Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Housing F
Slide 26: Collection Efficiency: Performance in EMI Servicing Continues
Collection Efficiency : Performance in EMI Servicing Continues MSME Collection Efficiency (by POS) MSME: Slow Reversion to Normalcy o MSME portfolio consistently showed a slight dip over 86.5% 85.9% Q1FY22 collection efficiency. 84.0% 83.4% o There are short term challenges in getting back to normal
Slide 27: Well Capitalized Balance Sheet: Aid to Expansion
Well Capitalized Balance Sheet: Aid to Expansion Consolidated Networth (INR Mn) Capital Adequacy (%) 16,380 16,890 17,173 17,636 18,098 41.6% 40.4% 39.3% 37.8% 37.7% 37.5% 34.5% 35.8% 34.3% 31.2% 14,523 14,906 15,259 13,930 14,340 1,750 1,750 1,750 1,750 1,750 700 800 900 980 1,088 Q 2 FY 2 1 Q 3 FY
Slide 28: Network and Financials
Network and Financials CAPRIGLOBAL 27
Slide 29: Network: Presence In Major Growth Centres
Network: Presence In Major Growth Centres State-wise Number of Branch Expansion Continues Physical Branch Locations as of Q2FY22 : 99 branches 99 85 89 1 78 78 3 2 23 5 18 26 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 1 Headcount Addition To Support Branch Expansion 5 14 CGCL CGHFL 1,425 1,477 1,945 1,966 2
Slide 30: CGCL Cons. Inc. Statement: Quarterly Comparison
CGCL Cons. Inc. Statement : Quarterly Comparison Particulars (INR Mn) Q2FY22 Q2FY21 Y-o-Y (%) Q1FY22 Q-o-Q (%) Interest earned 1,980 1,743 13.6% 1,875 5.6% Interest expended 799 688 16.1% 771 3.6% Net interest income 1,180 1,054 12.0% 1,104 7.0% Non-interest income 217 126 72.4% 124 76.0% Core opera
Slide 31: CGCL Consolidated Balance Sheet: Quarterly Comparison
CGCL Consolidated Balance Sheet : Quarterly Comparison* Particulars (INR Mn) Q2FY22 Q2FY21 Y-o-Y (%) Q1FY22 Q-o-Q (%) Paid-up equity 351 350 0.1% 351 0.0% Reserves and surplus 17,747 16,033 10.7% 17,286 2.7% Networth 18,098 16,383 10.5% 17,637 2.6% Bank borrowings and refinance 31,356 22,833 37.3% 2
Slide 32: CGHFL Income Statement: Quarterly Comparison
CGHFL Income Statement : Quarterly Comparison Particulars (INR Mn) Q2FY22 Q2FY21 Y-o-Y (%) Q1FY22 Q-o-Q (%) Interest earned 437 345 26.5% 395 10.5% Interest expended 228 201 13.6% 212 7.7% Net interest income 209 145 44.4% 184 13.8% Non-interest income 64 61 4.2% 41 55.8% Core operating income 21 11
Slide 33: CGHFL Balance Sheet: Quarterly Comparison
CGHFL Balance Sheet : Quarterly Comparison* Particulars (INR Mn) Q2FY22 Q2FY21 Y-o-Y (%) Q1FY22 Q-o-Q (%) Paid-up equity 607 607 0.0% 607 0.0% Reserves and surplus 2,231 1,753 27.3% 2,123 5.1% Networth 2,838 2,360 20.3% 2,730 4.0% Borrowings 12,202 8,955 36.3% 10,650 14.6% Other liabilities and prov
Slide 34: Way Forward In FY22…
Way Forward In FY22… CAPRIGLOBAL 33
Slide 35: Way Forward: FY22E and Beyond
Way Forward : FY22E and Beyond AUM growth has picked up momentum and we expect it to sustain in H2FY22, expect full year growth at +20% YoY. CGCL well poised to deliver a 22-27% CAGR FY22E-FY27E in AUM growth. Although asset quality warrants caution due to restructured portfolio, we expect risks to
Slide 36: Leadership
N Leadership © CAPRI GLOBAL CAPITAL LIMITED
Slide 37: Board of Directors & Strong Corporate Governance
Board of Directors & Strong Corporate Governance Corporate Governance Rajesh Sharma, Managing Director Founder & Promoter with over 2.5 Philosophy decades of experience, Chartered Accountant Ajit Sharan, Independent Director Beni Prasad Rauka, Independent Director o Good Board Practices IAS - Batch
Slide 38: Stable Leadership Team
Stable Leadership Team MSME/Housing Finance Construction Finance Corporate Functions Amar Rajpurohit (Business Head – Surender Kumar Sangar (Head – Raj Ahuja (ED & Group CFO) MSME & Home Loan) Ex-AU CF) Ex-MD – Tourism Finance More than three decades of Financiers, Gruh Finance, DHFL Corporation of
Slide 39: Thank you
Thank you For further information, please get in touch with: Ravikant Bhat Rajat Gupta [email protected] [email protected] T: +91 72089 52880 M:+91 9971897739 Sheetal Khanduja [email protected] M:+91 97693 64166 CAPRIGLOBAL 38