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Muthoot Finance Consolidated Loan Assets Under Management of the Group* reaches landmark Level of Rs.34316 crs

Published in Corporate Thursday, 06 September 2018 15:05

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Muthoot Finance Ltd Consolidated Loan Assets under management achieved a YoY increase of 16% at Rs.34316crs as against last year of Rs. 29500crs. During the quarter Consolidated Loan Assets under management increased by 7% of  Rs.2157crs.

 

Q1FY19Q4 FY18Q1FY 18YoY (%)QoQ (%)

Consolidated Gross Loan Assets of the Group* (Rs. In crores)34316321592950016%7%

Gross Loan Assets of Muthoot Finance30997291422785711%6%

Gross Loan Assets of Subsidiaries331930171644102%10%

Contribution of Subsidiaries in the Consolidated Gross Loan Assets of the Group* 10%

10%6%-

-

Group Branch Network4688459644855%2%

*Muthoot Finance Ltd and its 3 subsidiaries involved in lending business.

 

Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 43%, at Rs. 492crs for Q1FY19 as against Rs.345crs in the previous year.  Loan Assets stood at Rs. 30997crs as at June 30, 2018 as against Rs.27857crs as at June 30 ,2017, Y-o-Y growth of 11%. During the quarter, Loan Assets increased by 6% of Rs. 1855crs.

 

Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, increased its loan portfolio to Rs.1621crs as against previous year of Rs.596crs, a YoY increase of 172%. During the quarter, loan portfolio increased by Rs.156crs, QoQ growth of 11%. Total revenue for Q1FY19 stood at Rs. 50crs as against previous year total revenue of Rs.19cr. It achieved a net profit of Rs.11crs in Q1FY19 as against previous year profit of Rs.4crs. Its Gross and Net NPA stood at 0.51% and 0.43% as on June 30, 2018.

M/s. Belstar Investment and Finance Private Limited (BIFPL) , an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 71.16% stake, grew its loan portfolio to Rs. 1236crs as against last year of Rs.665crs, a YoY increase of 86%. During the quarter, loan portfolio increased by Rs.99crs, QoQ growth of 9%. It achieved a profit after tax of Rs.14crs during Q1FY19 as against previous year profit after tax of Rs.5crs. Its Gross and Net NPA stood at 0.83% and 0.45% as on June 30,2018.

Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a First year premium collection amounting to Rs. 49crs during Q1FY19 as against Rs. 16crs in the previous year. It generated a Profit after Tax of Rs.2crs during Q1FY19 as against Rs.1crs in the previous year.

 

The Sri Lankan subsidiary - Asia Asset Finance PLC. (AAF) where Muthoot Finance holds 60% stake, increased its loan portfolio to Rs.462crs as against last year of Rs.383crs, a YoY increase of 21%. During the quarter, loan portfolio increased by Rs.47crs , QoQ growth of 11%. Total revenue for Q1FY19 stood at Rs.29crs as against previous year total revenue of Rs.25crs . It generated a profit after tax of Rs.0.68crs during Q1FY19 as against previous year profit after tax of Rs.2.39crs . 

Commenting on the results M G George Muthoot, Chairman stated, “We witnessed a strong growth by the Group with Consolidated Loan Assets growing QoQ of 7% reaching highest level of Rs.34316crs. Gold Loan portfolio also witnessed a strong growth during the quarter with Muthoot Finance loan assets increasing by Rs.1855crs , a QoQ increase of 6%.Profit After Tax  of MFIN increased by 43% at Rs.492crs as against last year of Rs.345crs. ”

 

Speaking on the occasion George Alexander Muthoot, Managing Director said, “Our subsidiaries achieved YoY loan growth of  102% reaching Rs. 3319crs as against last year of Rs.1644crs . They are contributing  10% of Group Loan assets. We are expecting this contribution to increase to 15% of Group’s assets by the end of the year. Muthoot Homefin (India) Limited has grown its loan portfolio to Rs.1621crs as against previous year of Rs.596crs , a YoY increase of 172%.  The micro finance subsidiary which has a strong SHG model increased its loan portfolio to Rs. 1236crs as against last year of Rs.665crs, a YoY increase of 86%. The NBFC in Sri Lanka increased its loan portfolio by 11% during the quarter.  First Year Premium collections in the Insurance Broking subsidiary increased by 206% at Rs.49crs. Though we have transitioned to Expected Credit Loss Model on implementation of IND-AS , the NPA under earlier method seen decreased from Rs.2033crs (6.98%) as on March 31,2018 to Rs. 1413crs(4.56%) as on June 30 ,2018 , of which Rs.524crs is due to borrowerwise classification which otherwise could be classified as standard loans. The relevant number under IND–AS, stage 3 assets, is Rs.883crs(2.85%)”

 

Financial Highlights(MFIN) :

 Q1 FY19Q1 FY18YoY %

 (Rs.in Crs)(Rs.in Crs)Change

Total Income1633137719%

Profit Before Tax75554239%

Profit After Tax49234543%

Earnings  Per Share (Basic)  Rs.12.298.6342%

Loan Assets309972785711%

Branches434442851%

 

 Q1 FY19Q1 FY18YoY %

Q4 FY18

QoQ %

 (Rs.in Crs)(Rs.in Crs)Change

Change

Loan Assets309972785711%291426%

Branches434442851%43250.4%

Q1 FY19Q1 FY18

Return on Average  Loan assets6.54%5.00%

Return on Average Equity24.39%20.66%

Book Value Per Share (Rs. )207.44171.30

 

 Q1 FY19Q1 FY18

Capital Adequacy Ratio26.44%25.61%

Share Capital & Reserves (Rs. in Crs)83076850

 

 

Business Highlights (MFIN):

 

ParticularQ1FY 19Q1FY 18Growth (YoY)

Branch Network434442851%

Gold Loan Outstanding (Rs. in Cr)305622777510%

Credit Losses (Rs. in Cr)31200%

% of Credit Losses on Gross Loan Asset Under Management 0.010%0.004%170%

Average Gold Loan per Branch(Rs. In Cr)7.046.489%

No. of Loan Accounts (in lakh)78754%

Total Weight of Gold Jewellery pledged (in tonnes)1611526%

Average Loan Ticket Size39204371965%

No. of employees23623233911%

 

 

Other Highlights:

Public Issue of Non-Convertible Debentures

During the quarter, Company successfully completed 18th Public Issue of Non-Convertible Debentures of an issue size of Rs.3000crs. The issue was oversubscribed and was closed on second day of issue opening.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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