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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  IIFL Holdings Ltd    IIFL   INE530B01024

IIFL HOLDINGS LTD (IIFL)
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IIFL : Q4FY18 consolidated PAT rises 41% yoy to Rs1,162cr

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05/04/2018 | 03:07pm CEST

For the quarter and year ended March 31, 2018 (Q4FY18, FY18):

• Profit after tax* stood at Rs318cr for the quarter, up 36% y-o-y, and Rs1,162cr for the full year, up 41% y-o-y • Consolidated income# stood at Rs1,091cr for the quarter, up 31% y-o-y, and Rs3,864cr for the full year, up 37% y-o-y • Loan assets under management in NBFC business at Rs31,134cr, up 40% y-o-y • Wealth assets at Rs1,31,762cr, up 39% y-o-y

Summary: Consolidated – Q4FY18

Rs Cr

Income#

Y-o-Y (%)

Profit
after tax*

Y-o-Y (%)

IIFL Finance

521.3

29%

160.2

33%

IIFL Wealth

287.0

16%

103.2

37%

IIFL Securities

282.3

56%

54.6

41%

IIFL Consolidated

1,090.6

31%

318.0

36%

Minority Interest

-

-

69.7

45%

IIFL Consolidated (post minority)

1,090.6

31%

248.3

33%

Summary: Consolidated – FY18

Rs Cr

Income#

Y-o-Y (%)

Profit
after tax
*

Y-o-Y (%)

IIFL Finance

1,893.3

37%

554.3

31%

IIFL Wealth

1,074.9

36%

385.3

54%

IIFL Securities

895.5

39%

222.5

50%

IIFL Consolidated

3,863.7

37%

1,162.1

41%

Minority Interest

-

-

250.8

84%

IIFL Consolidated (post minority)

3,863.7

37%

911.3

33%

*Profit after tax is pre-minority #Income is net of interest expense

Mr. Nirmal Jain, Chairman, IIFL Holdings Ltd., commented on the financial results “We are delighted to note that all the core businesses recorded strong growth during the year ended March 31, 2018. Our sustained growth is testimony to superior products and services provided to customers, delivered by exceptionally dedicated and motivated employees. The group’s proposed reorganisation will result in separate listed companies for each of the core businesses; namely IIFL Finance (loans and mortgages), IIFL Wealth (wealth and asset management) and IIFL Securities (equities, investment banking, commodities). We believe that they will be better placed to attract talent to grow faster and compete more effectively. The new financial year looks promising for all the businesses.”

IIFL Finance

The loans and mortgages business is carried out by a non-banking finance company and its two subsidiaries, housing finance company and micro finance company; conducted through 1,378 branches spanning the length and breadth of the country.

The profit after tax* for Q4FY18 was Rs160cr, up 33% y-o-y, while total income was Rs521cr, up 29% y-o-y. NBFC’s ROE1for Q4FY18 stood at 16.5% and ROA was 2.2%. Average borrowing costs declined 7bps q-o-q and 44bps y-o-y to 8.4%. Net Interest Margin was up 23bps q-o-q to 7.13%.

Loan assets under management (AUM), predominantly retail, showed a strong growth of 40% y-o-y to Rs31,134cr, mainly driven by small-ticket home loans, MSME loans and micro-finance loans. At the end of the quarter, retail home loan assets grew to Rs8,579cr, up 61% y-o-y. CV and Gold were other drivers.

85% of our loans are retail in nature and 40% are PSL compliant. The securitized loan book currently at Rs3,518cr is 11% of AUM. There exists significant opportunity for securitization, which will positively impact profitability and CAR.

Asset quality remains sound with GNPA of 1.7% and NNPA of 0.8% as on March 31, 2018. Against gross NPA of Rs473cr, specific provisions stand at Rs256cr, giving provision coverage of 54%.

Besides this, provision of Rs120cr has been made for standard assets as per statutory requirements. Total provision coverage (including standard asset provision) stands at 80% of gross NPAs.

IIFL Finance has long-term credit rating by CRISIL AA/Stable, [ICRA] AA (Stable), CARE AA (Positive).

Capital adequacy: Total CAR stood at 16.2% including Tier I capital of 14.8% as at March 31, 2018.

IIFL contribution in PMAY-CLSS: Over 13,000 customers were benefitted with a subsidy of more than Rs300cr under the Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme.

Micro-Finance Business:During the quarter, Samasta Microfinance, has continued its steady growth, with additional expansion in the eastern regions of the country. The loan assets as at March 31, 2018 stood at Rs841cr, up 47% q-o-q and MFI base increased to over 5,00,000 customers.

IIFL Wealth IIFL Wealth Management is the leading wealth management company in India. The company has catapulted itself to become the largest private wealth management firm in India in less than a decade since its inception. Today, it actively manages assets of more than 10,000 High Net Worth Individuals (HNI) and Ultra HNI families in India and abroad. Headquartered in Mumbai, IIFL Wealth has more than 800 employees and a presence in 9 major global financial hubs across 23 locations in India and around the world.

The company’s total assets under management, distribution and advice witnessed 39% y-o-y growth to reach Rs1,31,762cr in Q4FY18. The profit after tax for Q4FY18 was at Rs103cr, up 37% y-o-y. IIFL Wealth Finance, a wholly-owned NBFC subsidiary of IIFL Wealth focused on providing loan against securities to wealth clients had a loan book of Rs6,701cr as at March 2018, up 85% y-o-y.

IIFL Securities IIFL is a key player in both retail and institutional segments of the capital market, and category I merchant banker. We have close to 1,200 service locations comprising a wide branch and sub-broker network and providing unparalleled research coverage on over 500 companies. The business has recorded a robust performance despite volatility in the market. During the quarter, the average daily market turnover for the broking business was Rs17,455cr, up 69% y-o-y with the cash market turnover at Rs1,563cr, up 39% y-o-y.

Our mobile trading app, ‘IIFL Markets’ continues to be the highest rated (4.3) on Android amongst peers with over 15 lakh downloads. There has been a steady increase in number of clients trading through the mobile platform; during the quarter 41% of retail customers have traded through the app. IIFL’s Mutual Fund App crossed 2.7 lakh downloads with a 4 star rating on Android, and is steadily building on its customer base.

Investment Banking: During the year, IIFL has completed 27 transactions including 11 IPOs and 8 follow-on transactions involving listed companies; and continues to have a substantial pipeline of transactions which are at various stages of execution.

IIFL has been ranked #1 in equity issuances for private companies for the financial year 2017-2018, (Source: Prime database2)

Group reorganization

The Board of Directors of the Company at its meeting held on January 31, 2018, had approved the Composite Scheme of Arrangement amongst the Company, India Infoline Media and Research Services Limited, IIFL Securities Limited (Formerly India Infoline Limited), IIFL Wealth Management Limited, India Infoline Finance Limited, IIFL Distribution Services Limited, and their respective shareholders, under Sections 230 - 232 and other applicable provisions of the Companies Act, 2013.

During the quarter ended March 31, 2018, the draft scheme has been filed with the exchanges/SEBI and approval of the same is awaited.

(c) 2018India Infoline Ltd. All rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( INR)
Sales 2019 76 997 M
EBIT 2019 52 098 M
Net income 2019 10 619 M
Debt 2019 -
Yield 2019 0,88%
P/E ratio 2019 20,75
P/E ratio 2020 17,62
Capi. / Sales 2019 2,87x
Capi. / Sales 2020 2,50x
Capitalization 221 B
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IIFL Holdings Ltd Technical Analysis Chart | IIFL | INE530B01024 | 4-Traders
Technical analysis trends IIFL HOLDINGS LTD
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 3
Average target price 748  INR
Spread / Average Target 8,0%
EPS Revisions
Managers
NameTitle
Venkataraman Rajamani Managing Director & Executive Director
Nirmal Bhanwarlal Jain Executive Chairman
Apoorva Tiwari Chief Operating Officer
Prabodh Agrawal Chief Financial Officer
Subhash Kelkar Chief Technology Officer
Sector and Competitors
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INDIABULLS HOUSING FINANCE-6.04%6 999
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