CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED (CIFCL) UN-AUDITED FINANCIAL RESULTS

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"Assets under Management crosses Rs.50,000 Cr"

Q3 Performance YTD Performance * 39% Growth in PAT over FY 18 Highest ever quarterly PAT of

* 304 Cr.

*41% Growth in PAT over FY 18 Highest ever YTD PAT of Rs. 894 Cr.

*32% Growth in Total Income over FY 18 Total income of Rs. 1,831 Cr *26% Growth in Total Income over FY 18

Total income of Rs. 5,120 Cr

* AUM of * 52,868 Cr (32% Growth) Chennai, January 30, 2019: The Board of Directors of CIFCL today approved the un-audited financial results for the quarter/nine months ended 31st December 2018. Highlights:

Q3 & YTD Dec Performance: Rs in Cr. Rs in Cr. **Annualized; **As % of average assets Disbursements grew by 27%# PAT grew by 41%# ROTA - PBT improved by 30 bps# Q3 Q3 YTD YTD Growth Growth FY18 FY19 FY18 FY19 Q-o-Q Y-o-Y Vehicle Finance 5,607 6,240 13,720 17,447 11% 27% Home Equity 799 954 2,368 2,803 19% 18% Others 356 451 1,018 1,308 27% 29% Total 6,761 7,644 17,106 21,558 13% 26%

Disbursements Q3 Q3 YTD YTD Growth Growth FY18 FY19 FY18 FY19 Q-o-Q Y-o-Y Total Income 1,389 1,831 4,047 5,120 32% 26% PAT 219 304 633 894 39% 41% EPS - in Rs* 56.16 77.88 53.75 75.92 39% 41% ROTA - PBT** 3.5% 3.6% 3.5% 3.8% ROE - in % 18.3% 20.7% 18.3% 21.4%

As per Ind AS #Year-on-year figures

*Aggregate disbursements for the period ended December 18 were at ₹ 21,558 Cr as against ₹ 17,106 Cr in the same period in the previous year registering a growth of 26%. The disbursements for the quarter ended December 18 were at ₹ 7,644 Cr as against ₹ 6,761 Cr in Q3 of FY18, registering a growth of 13%.

*Vehicle Finance (VF) business has clocked a volume of ₹ 17,447 Cr for the period ended December 2018 as against ₹ 13,720 Cr for the same period in the previous year, reporting a growth of 27% Y-o-Y. The same numbers for the quarter ended December 18 were at ₹ 6240 Cr as against ₹ 5607 Cr in Q3 FY 18, reporting a growth of 11%. The slow-down in VF disbursement can be explained by the stagnation in the industry volumes during Q3. Despite the almost stagnant market, the company outperformed the industry with 48% quarter-on-quarter growth in the number of new vehicles financed compared to the 7% increase for the industry taken as a whole.

*Home Equity (HE) business disbursed ₹ 2,803 Cr as against * 2,368 Cr for YTD December FY18, marking a growth of 18% YoY. The numbers for the quarter ended December 18 disbursements were at * 954 Cr as against * 799 Cr in Q3 of FY 18 registering a growth of 19%. *Assets under management grew by 32% at * 52,868 Cr as compared to ₹ 39,985 Cr in Q3 FY18. *Profits after Tax (PAT) for the period ended December 18 were at ₹ 894 Cr as against ₹ 633 Cr last year registering a growth of 41%. For the quarter the PAT was at ₹ 304 Cr as against ₹ 219 Cr in Q3 FY 18. *The PBT-ROTA for YTD FY19 improved to 3.8% as against 3.5% in YTD December of FY18. This improvement in RoTA can be attributed to two drivers- reduction in expected credit loss for HE & HL verticals and reduction in operating cost for the VF vertical. Interim Dividend:

The Board of Directors of the Company declared an Interim dividend of 45% being ₹ 4.5 per share on the equityshares of the Company, for the year ending March 31, 2019. Asset Quality CIFCL continues to demonstrate strong asset quality and been able to reduce the Stage 3 receivables from 4.3%in Dec 17 to 3.3% in Dec'18 (under IND AS). As per the traditional IGAAP approach also the GNPA levels reduced from 3.7% in Dec 17 to 2.7%. A brief comparison under both IGAAP and IND AS is also given. Rs. in Cr.

Capital Adequacy: The Capital Adequacy Ratio (CAR) of the company as on 31st December 2018, was at 17.83% as against theregulatory requirement of 15%. The Tier I capital was at 13.09% as against the regulatory requirement of 10%. Executive Director Comments:

Commenting on the quarterly results, Arun Alagappan, Executive Director, stated "Growth in disbursements of26% against the previous year is a significant achievement considering the sluggish performance of the market.Going forward, we see significant opportunities in the two wheeler& personal vehicle segment and expectthese to be strong growth drivers. We also plan to deepen our presence in newer geographical areas byexpanding to more than 1000 branches by the end of the year. This quarter, the company achieved the highest after tax profit of ₹ 304 crore which is expected to improve inthe periods to come, by a continued focus on reduction of operating cost & a shift towards higher yield segments." Particulars Dec-17 Mar-18 Jun-18 Sep-18 Dec-18

As per IGAAP GNPA 1,467 1,278 1,377 1,347 1,375 NNPA 927 722 778 751 753 Provision 540 556 599 597 622 GNPA% 3.7% 2.9% 3.0% 2.8% 2.7% NNPA% 2.3% 1.7% 1.7% 1.6% 1.5% Provision Coverage% 36.8% 43.5% 43.5% 44.3% 45.2% Standard Assets Provn 128 145 156 161 161 Standard Assets Provn % 0.40% 0.40% 0.40% 0.40% 0.40% Total Provision 668 701 755 757 783

As per IND AS Gross Asset - Stage 3 1,668 1,496 1,620 1,608 1,639 Stage 3 Assets to Total Gross Assets 4.3% 3.5% 3.6% 3.4% 3.3% ECL provision - Stage 3 598 543 591 591 604 Coverage Ratio (%) - Stage 3 35.8% 36.3% 36.5% 36.8% 36.9% Gross Asset - Stage 1&2 37,534 41,601 43,623 46,082 48,261 ECL provision - Stage 1&2 359 355 367 348 371 Coverage Ratio (%) - Stage 1&2 1.0% 0.9% 0.8% 0.8% 0.8% Total ECL Provision 957 899 958 939 975




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