Muthoot Finance Ltd
Consolidated Loan
Assets Under Management increased by 21% YoY at Rs.43436crs for 9M FY20
Consolidated Profit
after Tax increasedby 49% YoY at Rs.2321crsfor 9M FY20
Standalone Loan Assets
Under Management increased by 19% YoY at Rs.38498crs for 9MFY20
Standalone Profit
after tax increased by 50% YoY at Rs.2191crs for 9M FY20
Consolidated Results of Muthoot Finance Ltd
Muthoot Finance Ltd’s Consolidated Loan Assets
under management achieved a YoY increase of 21% at Rs.43436crs as against last
year of Rs.35939crs for 9M FY20. Consolidated Profit after tax achieved a YOY
increase of 49% of Rs. 2321 crs as against last year of Rs.1554crs for 9M FY20
|
|
9M FY20
|
|
|
Group Branch Network
|
5268
|
|
|
Consolidated Gross Loan Assets of
the Group (Rs. In crores)
|
43436
|
|
|
Consolidated Profit of the Group (Rs.
In crores)
|
2321
|
|
|
Contribution in the Consolidated
Gross Loan Assets of the Group
|
||
|
Muthoot Finance
|
38123
|
|
|
Subsidiaries
|
5313
|
|
|
Contribution in the
Consolidated Profit of the Group
|
||
|
Muthoot Finance
|
2172
|
|
|
Subsidiaries
|
149
|
|
Standalone
Results of Muthoot Finance Ltd and its
subsidiaries
Muthoot Finance Ltd (MFIN), the largest gold
financing company in India in terms of loan portfolio, registered an increase
in net profit of 50%, at Rs.2191crs for 9MFY20 as against Rs.1461crs
in the previous year. Loan Assets stood at Rs.38498crs as at December 31, 2019
as against Rs.32470crs as at December 31,2018, Y-o-Y growth of 19%.During the
quarter, gold loan assets increased by Rs. 2783crs.
Muthoot Homefin
(India) Ltd (MHIL), the wholly owned
subsidiary, increased
its loan portfolio to Rs.2025 crs as against previous year of Rs.1835 crs, a YoY
increase of 10%. Total revenue for Q3 FY20 & 9M
FY20 stood
at Rs.88 crs& Rs.240 crs as against previous year total revenue of Rs.57 crs&
Rs.161 crs. It achieved a profit after tax of Rs.11crs& Rs.31 crs in Q3FY20 & 9M FY20 as against previous year profit of Rs.9crs& Rs.30 crs.
Its Stage III Asset on Gross Loan Asset % as on December 31, 2019 stood at 1.87%.
M/s. Belstar Microfinance Limited (BML) , an RBI registered
micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01% stake,
grew its loan portfolio to Rs.2285crs as against last year of Rs.1563crs, a YoY
increase of 46%. During Q3 FY20, loan portfolio increased by Rs.178crs. It achieved
a profit after tax of Rs.26crs& Rs.77crs in Q3FY20&
9M FY20 as
against previous year profit after tax of Rs.24crs& Rs.53crs. Its Stage III
Asset on Gross Loan Asset % as on December 31, 2019 stood at 1.13%.
Muthoot
Insurance Brokers Pvt Limited (MIBPL),
an IRDA registered Direct Broker in insurance products and a wholly owned
subsidiary company generated a total premium collection amounting to Rs.85crs&
Rs.217crs in Q3FY20& 9M FY20 as against Rs.62crs&
Rs.179crs in the previous year. It generated a
Profit after Tax of Rs.5crs& Rs.12crs in Q3FY20&
9M FY20 as against Rs.4crs& Rs.10crs in the previous
year.
The Sri Lankan subsidiary - Asia Asset Finance PLC. (AAF) where Muthoot Finance holds
72.92% stake, increased its loan portfolio to LKR 1301crsas against last year
of LKR 1163crs, a YoY increase of 12%. Total revenue for Q3FY20 & 9M FY20
stood at LKR 86 crs& LKR 252 crs as against previous year total revenue of
LKR 71 crs& LKR 209 crs. It generated a profit
after tax of LKR 4crs& LKR 9 crs in Q3FY20 & 9M
FY20 as
against previous year profit after tax of LKR 3 crs& LKR 7 crs.
Muthoot
Money Ltd (MML),
became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is
a RBI registered Non- Banking Finance Company engaged mainly in extending loans
for vehicles. The operations are now centered in Hyderabad. Recently, Company
has started extending loans for Commercial Vehicles and Equipments. During Q3FY20,
it has increased its loan portfolio to Rs.492crs. During Q3 FY20, loan
portfolio increased by Rs.65 crs. Total revenue for Q3 FY20 & 9M FY20 stood at
Rs.18 crs& Rs.49 crs.
Commenting on the results M G George
Muthoot, Chairman stated, “We are glad to announce that consolidated loan
assets of the Group grew by 21% at Rs.43436 crs during 9MFY20as against last
year of Rs.35939 crs. Consolidated Profit increased by 49% at Rs.2321 crs during
9M FY20as against last year of Rs.1554 crs.During the quarter, gold loan
portfolio of Muthoot Finance increased by Rs.2783 crs to Rs.37724 crs. Standalone
profit of Muthoot Finance for the 9
months ended December 31, 2019 increased by 50% at Rs.2191crs.”
Financial
Highlights(MFIN) :
|
|
9M FY20
|
|
|
(Rs.in Crs)
|
|
Total
Income
|
6312
|
|
Profit
Before Tax
|
2944
|
|
Profit
After Tax
|
2191
|
|
Earnings
Per Share(Basic) Rs.
|
54.68
|
|
Loan
Assets
|
38498
|
|
Branches
|
4536
|
|
Particular
|
9M FY20
|
|
Return on Average Loan assets
|
8.10%
|
|
Return on Average Equity
|
27.57%
|
|
Book
Value Per Share (Rs.)
|
284.15
|
|
Particular
|
Q3 FY20
|
|
Capital
Adequacy Ratio
|
26.51
|
|
Share
Capital & Reserves (Rs. in Crs)
|
11399
|
Business Highlights
(MFIN):
|
Particular
|
9MFY20
|
|
Branch Network
|
4536
|
|
Gold Loan Outstanding (Rs. in Cr)
|
37724
|
|
Credit Losses (Rs. in Cr)
|
50
|
|
% of Credit Losses on Gross Loan
Asset Under Management
|
0.13%
|
|
Average Gold Loan per Branch(Rs. In
Cr)
|
8.32
|
|
No. of Loan Accounts (in lakh)
|
80
|
|
Total Weight of Gold Jewellery
pledged (in tonnes)
|
173
|
|
Average Loan Ticket Size
|
47008
|
|
No. of employees
|
25149
|
Other
Highlights(MFIN):
1. Public Issue of
Non-Convertible Debentures
During December 2019, Company successfully
completed 22nd Public Issue of Non-Convertible Debentures raising Rs.790crs.
2.
CRISIL Rating outlookon long term rating
During January 2020, CRISIL revised our long
term rating outlook from ‘CRISIL AA/(Stable)’ to ‘CRISIL AA/(Positive)’.
About Muthoot Insurance Brokers Pvt Limited:
MIBPL is a wholly owned subsidiary
of Muthoot Finance Ltd. It is an unlisted private limited company holding a
license to act as Direct Broker from IRDA since 2013.It is actively
distributing both life and non-life insurance products of various insurance
companies. During Q3 FY20, it has insured more than 835,000 lives with a first
year premium collection of Rs.580million. During Q3 FY19 it has insured more
than 556,000 lives with a First year premium collection of Rs.399million under
Traditional, Term and Health products. The same was 2,200,000 lives with a
first year premium collection of Rs.1738 Million in FY19 respectively.
Key Business
Parameters
|
Particulars
|
9M FY20
|
|
Total
Premium Collection (Rs. In millions)
|
2168
|
|
No.
of Policies
|
2,011,505
|
About Muthoot Homefin (India) Limited:
MHIL is a Housing Finance Company
registered with The National Housing Bank (NHB). It is a wholly owned
subsidiary of Muthoot Finance Limited.
MHIL’s prime goal is to contribute
towards financial inclusion of LMI families by opening doors of formal housing
finance to them. Its focus is on extending Affordable Housing Finance. MHIL
would be concentrating primarily on retail housing loans in the initial stages.
It operates on a ‘Hub and Spoke’ model, with the centralized processing based
out of Corporate Office at Mumbai. MHIL has operations in 14 states and 2 Union
territories - Maharashtra (including Mumbai), Gujarat, Rajasthan, Madhya
Pradesh,Kerala, Karnataka, Telangana, Andhra Pradesh, Haryana, Chandigarh,
Uttar Pradesh,Chattisgarh, Punjab, Tamil Nadu, Delhi and Pondicherry.
MHIL has short term debt rating of
‘A1+’ for its Commercial Paper programme which indicates “Very strong degree of
safety regarding timely payment of financial obligations and carry lowest
credit risk” from ICRA Ltd.
CRISIL Ltd revised long term debt rating
outlookfor its Bank Limits and Non Convertible Debentures from ‘CRISIL AA/(Stable)’ to
‘CRISIL AA/(Positive)’.which indicates “High degree of safety with regard to timely
servicing of financial obligations and carry very low credit risk.”
Key Financial
Parameters (Rs. In Millions)
|
Particulars
|
9M FY20
|
|
No. of branches
|
107
|
|
No. of Sales Offices
|
107
|
|
No. of Employees
|
438
|
|
|
|
|
Loan Portfolio
|
20248
|
|
|
|
|
Capital Adequacy Ratio
|
50%
|
|
|
|
|
Total Revenue
|
2401
|
|
Total Expense
|
1983
|
|
Profit Before Tax
|
418
|
|
Profit After Tax
|
306
|
|
Shareholder’s Funds
|
4248
|
|
Total Outside Liabilities
|
15286
|
|
Total Assets
|
19534
|
|
|
|
|
Stage III Loan Assets
|
335
|
|
% Stage III asset on Gross Loan
Asset
|
1.87
|
|
Stage III ECL Provision
|
270
|
|
ECL Provision
|
341
|
|
ECL Provision as a % of Gross Loan
Asset
|
1.91
|
About BelstarMicrofinance Limited (BML):
BML was incorporated on January
1988 at Bangalore and the Company was
registered with the RBI in March 2001 as a Non- Banking Finance Company. The
Company was reclassified as “NBFC-MFI” by RBI effective from 11th December
2013. Muthoot Finance holds 70.01%of equity share capital of BML. BML was
acquired by the ‘Hand in Hand’ group in September 2008 to provide scalable
microfinance services to entrepreneurs nurtured by ‘Hand in Hand’s’ Self Help
Group (SHG) program. The Company commenced its first lending operations at Haveri
District of Karnataka in March 2009 to 3 SHGs, 22 members for INR 0.2million.
In the last ten years of its
operations, BML primarily relied on taking over the existing groups formed by
Hand in Hand India. BML predominantly follows the SHG model of lending.
Effective January 2015, BML started working in JLG model of lending in Pune
district, Maharashtra.
As of December 31, 2019, BML
operations are spread over 16 states and 1 UT (Tamil Nadu, Karnataka, Madhya
Pradesh, Maharashtra, Kerala, Odisha, Chhattisgarh, Gujarat, Rajasthan, Bihar,
Uttar Pradesh, Haryana, Punjab, West Bengal, Uttarakhand, Jharkhand and
Pondicherry). It has 573 branches, with 101 controlling regional offices and
employing 4269 staff. Its gross loan portfolio has grown from INR 0.20million
in March 2009 to INR 22,849 million in December 2019. For9M FY 20, its Net
Profit after Tax was Rs.769million and had a net worth of Rs.4748million.
|
Key
Financial Parameters
|
|
|
|
(Rs. In Millions)
|
|
|
Particulars
|
9M FY20
|
||||
|
No. of branches
|
573
|
||||
|
No. of Employees
|
4269
|
||||
|
|
|
||||
|
Gross Loan Portfolio
|
22849
|
||||
|
|
|
||||
|
Capital Adequacy Ratio
|
27%
|
||||
|
|
|
||||
|
Total Revenue
|
3681
|
||||
|
Total Expense
|
2654
|
||||
|
Profit Before Tax
|
1027
|
||||
|
Profit After Tax
|
769
|
||||
|
|
|
||||
|
Shareholders’ Funds
|
4748
|
||||
|
Total Outside Liabilities
|
20022
|
||||
|
Total Assets
|
24770
|
||||
|
|
|
||||
|
Stage III Loan Assets
|
258
|
||||
|
% Stage III asset on Gross Loan Asset
|
1.13
|
||||
|
Stage III ECL Provision
|
230
|
||||
|
ECL Provision
|
347
|
||||
|
ECL Provision as a % of Gross Loan Asset
|
1.52
|
||||
About Asia Asset Finance PLC, Sri Lanka:
Asia
Asset Finance PLC, (AAF) Colombo, Sri Lanka became a foreign subsidiary of
Muthoot Finance Ltd on December 31, 2014.
The company formerly known as Finance and Land Sales has been in
operation for over 48 years, evolving to serve the growing needs of people of
Sri Lanka.
As
on December 31, 2019, total holding in AAF by Muthoot Finance stood at 90
million equity shares representing 72.92% of their total capital. AAF is a Registered
Financial Company based in Sri Lanka a fully licensed, deposit-taking
institution registered with the Central Bank of Sri Lanka and listed in the
Colombo Stock Exchange.
AAF is in lending business since
1970. At present the company is involved
in Retail Finance, Hire Purchase & Business Loans and has 28 branches
across Sri Lanka. It has total staff strength of 531 currently. In 2015, it
entered the space of Gold Loans with assistance of Muthoot Finance.
|
Key
Financial Parameters
|
LKR
in
millions
|
|
|
Particulars
|
9M FY20
|
|
|
LKR/INR
|
0.39286
|
|
|
|
|
|
|
No.
of Branches
|
28
|
|
|
No.
of Employees
|
531
|
|
|
|
|
|
|
Loan
Portfolio
|
13014
|
|
|
|
|
|
|
Capital
Adequacy Ratio
|
15%
|
|
|
|
|
|
|
Total
Revenue
|
2515
|
|
|
Total
Expenses
|
2410
|
|
|
Profit
Before Tax
|
105
|
|
|
Profit
After Tax
|
90
|
|
|
|
|
|
|
Shareholders’
Funds
|
2194
|
|
|
Total
Outside Liabilities
|
12532
|
|
|
Total
Assets
|
14726
|
|
About Muthoot Money Limited:
Muthoot Money Ltd
(MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018.
MML is a RBI registered Non- Banking Finance Company engaged mainly in
extending loans for vehicles. The operations are now centered in Hyderabad.
Recently, Company has started extending loans for Commercial Vehicles and
Equipments.
CRISIL Ltd has
assigned long term debt rating of AA-/Positive for its bank limits.
As on December 31,
2019 it has a total loan portfolio of Rs.4915Million.
Key Financial Parameters:(Rs in millions)
|
Pariculars
|
9M FY 20
|
|
No. of branches
|
24
|
|
No. of employees
|
297
|
|
|
|
|
Gross Loan Portfolio
|
4915
|
|
|
|
|
Capital Adequacy Ratio(%)
|
22
|
|
|
|
|
Total Revenue
|
492
|
|
Total Expense
|
453
|
|
Profit Before Tax
|
39
|
|
Profit After Tax
|
43
|
|
|
|
|
Stage III Loan Assets
|
122
|
|
% Stage III asset on Gross Loan
Asset
|
2.45
|
|
Stage III ECL Provision
|
30
|
|
ECL Provision
|
94
|
|
ECL Provision as a % of Gross Loan
Asset
|
1.88
|
|
|
|
|
Shareholders’ Funds
|
1078
|
|
Total Outside Liabilities
|
4086
|
|
Total Assets
|
5164
|
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