Muthoot Capital Services Ltd. · NSE:MUTHOOTCAP
Muthoot Capital Services — Q1 FY2021 Earnings Presentation
21 slides from Muthoot Capital Services's earnings presentation, Jul 28, 2020
Slide 1: Board Presentation dated 28th Jul 2020
Board Presentation dated 28th Jul 2020 Quarter ended 30th June 2020 BLUE SOCH. Helping millions shape their tomorrow 1
Slide 2: Agenda
• Covid-19 Impact on MCSL 4 • Performance Analysis 10 • Asset Analysis 13 • Liability Analysis 16 18 • Management Discussion & Analysis BLUE SOCH. Helping millions shape their tomorrow 2
Slide 3: Snapshot
Disbursement – AUM – ₹ 2474 crs No of States / UT Q1 FY 21: ₹16.97 Cr New Customers Live Customers – currently operating in Q1 FY 21 : 2,645 ( cases sourced before 675,419 – 20 Lockdown disbursed) SNAPSHOT Quarter ended 30th June 2020 Own book (Ind AS)- NCD under TLTRO CRAR –25 % PAT Stage 3 –7.1 %
Slide 4: Covid 19 Impact on MCSL in Q1FY21
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis Liquidity 55% of ~ ₹ 501 ~ ₹ 17 Delinquent Collection Cr Assets crs in done Disburse reported at hand/ during the ment ₹ 176 Cr undrawn quarter Overall Additional Provision COVID 19 IMPACT
Slide 5: Action Taken: Operational Impact, Liquidity Position
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis ACTION TAKEN Operational Impact • Partially resumed office since 20th April & almost 80% functional in Jun 20 (H O). The field staff who couldn’t go to office, working from home on collect
Slide 6: Credit costs and operational costs control
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis Credit costs • The company has taken a conservative approach in estimating the delinquency post the moratorium, and hence provided additional ₹ 32 Cr in respect of expected impact of COVID
Slide 7: HYP Collection Over Last 5 Months
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis HYP COLLECTION OVER LAST 5 MONTHS ₹. In Crores No of customers Month who paid Amount 700000 200.0 FEB 5 95 485 182.34 182.3 180.0 600000 595485 160.0 151.5 500000 140.0 496537 MAR 4 96 537
Slide 8: Mode Wise Collection Over Last 5 Months
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis MODE WISE COLLECTION OVER LAST 5 MONTHS ₹. In Crores Month NACH MFL Other modes 100.00 FEB 90.00 87.54 75.22 19.59 87.54 86.82 80.00 75.22 70.00 MAR 86.82 55.81 8.87 60.00 58.64 55.81 57.3
Slide 9: Moratorium Status on HYP Customers
Covid-19 Impact Performance Asset Liability Management on MCSL Analysis Analysis Analysis Discussion & Analysis MORATORIUM STATUS ON HYP CUSTOMERS FOR LAST 4 MONTHS 8 00 000 Total No of Morat. Morat. not % of 7 00 000 Month customers availed availed * morat. 6 00 000 5 55 723 MAR 7 15 616 1 59 893 5
Slide 10: Q1 FY21 Financial Statement Metrics
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Discussion & Analysis Analysis Quarterly Trend Yearly Trend ₹. In Crores ₹. In Crores Financial Statement Metrics Q1 FY 21 Q4 FY 20 Q-o-Q Q1 FY 20 Y-o-Y Q1 FY 21 Q1 FY 20 Y-o-Y Disbursement : Hyp Loans 16.47 329.9 -95.0
Slide 11: Statement of Sources and Application of Funds
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Discussion & Analysis Analysis STATEMENT OF SOURCES AND APPLICATION OF FUNDS ₹. In Crores Sources 30-Jun-19 31-Mar-20 30-Jun-20 Application 30-Jun-19 31-Mar-20 30-Jun-20 Share Capital 16.4 16.4 16.4Fixed Assets 4.4 3.5
Slide 12: Asset Quality and Provision Coverage
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Discussion & Analysis Analysis ASSET QUALITY AND PROVISION COVERAGE ₹. In Crores As on As on As on As Per IND AS 8.0% 7.0% 30.06.2019 31.03.2020 30.06.2020 7.0% 7.1% 6.0% 6.7% 2605.4 2598.1 2429.7 6.0% 6.0% 5.2% 5.7% 5.
Slide 13: Expected Credit Loss (ECL)
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis EXPECTED CREDIT LOSS (ECL) As on 30.06.2019 ₹. In Crores Particulars Outstanding Provision ECL% Total 2605.40 94.39 3.62% S1 and S2 (Std assets) 2135.78 37.21 1.74% S3 (NPA) 135.59 55.84 4
Slide 14: HYP Portfolio Split as on June 30th 2020
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis HYP PORTFOLIO SPLIT AS ON JUN 30th 2020 2.0% ₹. In Crores No of Transaction Type Amount Transactions Securitized (part of own book) 13 577.5 Direct Assignment 9 44.0 On Book Own Portfolio
Slide 15: Portfolio Analysis - HYP
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis PORTFOLIO ANALYSIS - HYP ₹. In Crores Portfolio Analysis Segment – wise Analysis 7.4% 165.6 2 212.6 22.5 92.5% 97.4% 92.6% 7.5% 2.6% 2 069.5 Two Wheeler Four Wheeler & Others NPA REGULAR N
Slide 16: Sources of Borrowing
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis SOURCES OF BORROWING ₹ 50 Cr ₹ 9.6Cr NCD raised received in Q1 FY 21 ₹50 Cr Additional sanctions from Collections of Sub-debt Bank during the quarter and Public Deposit Total sanctions as
Slide 17: Borrowing Profile by Instrument
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis BORROWING PROFILE – by Instrument ₹. In Crores Q1 FY ’20 Q4 FY ’20 Q1 FY ’21 Particulars Amount Cost* Amount Cost* Amount Cost* Bank Loan 1416.3 10.3% 1501.2 10.15% 1330.1 9.80% Sub debt 5
Slide 18: Disbursement & Collection, NPA
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis • With the impact of COVID 19, the disbursements came to a standstill; only ₹16.47 Cr, that was sourced before lockdown, were disbursed after reverification Disbursement & • During the qua
Slide 19: Diversity in Funding, Geographical
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis • In Q1 FY 21 under the TLTRO scheme, the Company issued NCDs which was fully subscribed to by SBI; It is listed on the BSE; Diversity in • At the quarter end, Company closed a PTC transac
Slide 20: Staff Attrition & Cost Control, Repayment Mode
Covid-19 Impact on Performance Asset Liability Management MCSL Analysis Analysis Analysis Discussion & Analysis • Monthly staff attrition at 2.9% in Q1 FY ‘21 v/s 2.8 % in Q4 FY 20 • Dealer incentives given, but the same is expected to rise when the disbursements start in a full-fledged Staff attrit
Slide 21: Thank You
irl muthoot Believe in Blue THANK YOU fr muthoot CAPITAL
Muthoot Capital Services — Q1 FY2021 Earnings Presentation on 6ix