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Analyst Meet / AGM
19-Jul-18
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Conference Call
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Muthoot Capital Services
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Expects credit cost at 2% for FY2019, proposes to raise provision coverage ratio to 50% by 2020
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Muthoot Capital Services conducted a conference call on 17 July 2018 to discuss the financial results for the quarter June 2018. Madhu Alexiouse - COO and Vinod Panicker - CFO of the compnay addressed the call:
Highlights:
- The total AUM reached Rs 2367 crore end June 2018, including securitized portfolio of Rs 453.7 crore, up 52% over June 2017.
- The company disbursed two-wheeler loans of Rs 448.4 crore in Q1FY2019 up from Rs 340.6 crore in Q1FY2018. The total disbursement stood at Rs 485.5 crore in Q1FY2019 against Rs 371.8 crore Q1FY2018.
- Net AUM stood at Rs 1913 crore end June 2018 up 46% over Rs 1313.7 crore end June 2017.
- The net profit of the company has increased more than three-fold to Rs 20.6 crore in Q1FY2018, driven by innovative technology led initiatives, strategic moves and increased geographical spread.
- The overall Net Interest Income (NII) went up from Rs 51.4 crore to Rs 86.9 crore. The company has substantially reduced cost of borrowings to 9.3% in Q1FY2019 from 10.1% in Q1FY2018.
- The GNPA ratio increased on sequential basis to 5.3% and NNPA ratio to 3.4% end June 2018.
- The company has improved provision coverage ratio to 38.0% end June 2018 from 35% a quarter ago and 23% a year ago, while aims to further improve provision coverage ratio to 50% by end March 2020.
- The company has maintained the guidance of credit cost at 2% for FY2019, while expects actual credit cost to be better than guidance for FY2019.
- The company has added 85036 new customers in Q1FY2019, while the customer base has jumped to 6.14 lakh end June 2018 from 5.7 lakhs end March 2018.
- The company would continue focus on incorporating the best of practices in terms of technology, processes, people, markets and initiatives.
- The first phase of technology has improved Turn Around Time (TAT) for the customer and also helped in employees' productivity.
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