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RELIANCE CAPITAL LIMITED (RELCAPITAL)

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Reliance Capital Limited : Reliance Capital announces results for year ended March 31, 2013

05/16/2013 | 08:13am US/Eastern
MEDIA RELEASE FY13 CONSOLIDATED NET PROFIT OF RS. 812 CRORE (US$ 149 MILLION) AN INCREASE OF 77% FY13 CONSOLIDATED TOTAL INCOME OF RS. 7,519 CRORE (US$ 1.4 BILLION) AN INCREASE OF 13% NET WORTH OF RS. 11,991 CRORE (US$ 2.2 BILLION) - YoY GROWTH OF 3% BOOK VALUE PER SHARE ROSE TO RS. 488 AT THE END OF FY13 TOTAL ASSETS OF RS. 40,588 CRORE (US$ 7.5 BILLION) - INCREASE OF 15% PROPOSED DIVIDEND OF RS. 8.00 PER SHARE

BUSINESSES

RCAM MANAGED RS. 1,73,129 CRORE (US$ 31.8 BILLION), ACROSS MUTUAL FUNDS, PENSION FUNDS, MANAGED ACCOUNTS AND HEDGE FUNDS RELIANCE MUTUAL FUND AAUM WERE RS. 94,580 CRORE (US$ 17.4 BILLION) - UP 21% RELIANCE MUTUAL FUND - Q4 PROFIT AT RS. 115 CRORE (US$ 21 MILLION) - UP 14% AND CONTINUES TO BE ONE OF THE MOST PROFITABLE MF IN INDIA RELIANCE LIFE INSURANCE - FY13 PROFIT OF RS. 380 CRORE (US$ 70 MILLION) AGAINST PROFIT OF RS. 373 CRORE IN FY12 - UP 2% RELIANCE LIFE INSURANCE - FY13 NBAP MARGIN AT 20.2% AS AGAINST 15.6% IN FY12 RELIANCE COMMERCIAL FINANCE - ASSETS UNDER MANAGEMENT AT RS. 16,379 CRORE (US$ 3.0 BILLION) - UP 9% RELIANCE COMMERCIAL FINANCE - FY13 PROFIT AT RS. 342 CRORE (US$ 63 MILLION) AS AGAINST PROFIT OF RS. 254 CRORE IN FY12 - UP 35% RELIANCE GENERAL INSURANCE - FY13 GROSS WRITTEN PREMIUM AT RS. 2,036 CRORE (US$ 374 MILLION) - UP 16% RELIANCE GENERAL INSURANCE - 2nd CONSECUTIVE PROFITABLE QUARTER Q4 PROFIT AT RS. 17 CRORE (US$ 3 MILLION) Mumbai, May 16, 2013: Reliance Capital Limited (RCL) today announced its audited financial results for the year ended March 31, 2013. The performance highlights are:

Consolidated results - Year ended March 31, 2013

FY13 Total income of Rs. 7,519 crore (US$ 1.4 billion), against Rs. 6,627 crore in the corresponding previous period - an increase of 13%. This was mainly on account of increase in topline of General Insurance, Commercial Finance and Asset Management businesses, and sale of stake in Reliance Capital Asset Management

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FY13 Net profit of Rs. 812 crore (US$ 149 million), against Rs. 458 crore in the corresponding previous period - an increase of 77% FY13 Earnings per share of Rs. 33.1 (US$ 0.61) against Rs. 18.6 in the corresponding previous period - an increase of 77%

Net worth:

As on March 31, 2013, the net worth of the Company stood at Rs. 11,991 crore (US$ 2.2 billion) - an increase of 3%.

Credit Rating:

The Company had a net debt equity ratio of 1.70 as on March 31, 2013. It continues to enjoy the highest ratings of 'A1+' by ICRA and CRISIL, for its short term borrowing program and 'CARE AAA' by CARE for its long term borrowing program.

Operational Review:

As on March 31, 2013, the total assets of the Company stood at Rs. 40,588 crore (US$ 7.5 billion) - an increase of 15%.
The investment portfolio of listed equities as on March 31, 2013, amounted to Rs. 1,512 crore

(US$ 278 million), at cost.

The Company has not raised any fixed deposits from the public.

Group Companies:

Reliance Capital Asset Management Reliance Mutual Fund

Reliance Capital Asset Management (RCAM) managed Rs. 1,73,129 crore (US$ 31.8 billion) as on March 31, 2013, across mutual funds, pension funds, managed accounts and hedge funds

Reliance Mutual Fund (RMF) is among the top two mutual funds in India, in terms of

AUM, with market share of nearly 12%
The average assets under management (AAUM) of RMF, for the period ended March
31, 2013 stood at Rs. 94,580 crore (US$ 17.4 billion) - a YoY increase of 21%
The Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) investor accounts stood at 13.1 lakh - the highest in the industry
The retail Gold Savings Fund rose by 10% to over Rs. 2,926 crore (US$ 538 million) in AAUMs for the year ended March 31, 2013, capturing a healthy market share of 24% in the gold fund category
RMF had a wide distribution network with over 200 branches and more than 40,000 empanelled distributors across India, as on March 31, 2013
As on March 31, 2013, there were total of 49 schemes comprising 22 equity oriented schemes, 23 debt oriented schemes, 3 exchange traded funds and 1 Fund of funds

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RCAM's income from its operations was Rs. 735 crore (US$ 135 million) for the year ended March 31, 2013 - a YoY increase of 11%
The profit before tax of RCAM was Rs. 290 crore (US$ 53 million) for the year ended
March 31, 2013

Reliance Life Insurance

Reliance Life Insurance (RLI) is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 5% of the private sector life insurance industry
The Total Premium (net of reinsurance) was Rs. 4,015 crore (US$ 738 million) for the year ended March 31, 2013
RLI achieved a profit of Rs. 380 crore (US$ 70 million) for the year ended March 31,
2013. The declared results of Reliance Capital include consolidation of 38% stake in
Reliance Life Insurance
The NBAP margin for the year ended March 31, 2013 was 20.2% as against 15.6% for the corresponding previous period
The total funds under management as on March 31, 2013 stood at Rs. 18,189 crore

(US$ 3.3 billion) The distribution network stood at 1,230 offices as on March 31, 2013, while the number of agents were over 1,24,000 Reliance General Insurance

Reliance General Insurance (RGI) offers insurance solutions for auto, health, home, property, travel, marine, commercial and other speciality products

RGI is amongst the leading private sector general insurance companies in India. It has a private sector market share of over 7%, in terms of gross written premium, of the Indian private sector general insurance industry
The Gross Written Premium for the year ended March 31, 2013 was Rs. 2,036 crore (US$ 374 million) as against Rs. 1,748 crore for the year ended March 31, 2012 - a YoY increase of 16%

The loss for the year was Rs. 93 crore (US$ 17 million) as against Rs. 342 crore for the year ended March 31, 2012

During the year, Rs. 155 crore (US$ 28 million) was infused into the business. The

total capital invested in the business, is Rs. 1,747 crore (US$ 321 million)

At the end of March 31, 2013, the investment book stood at Rs. 3,252 crore (US$ 598 million) - a YoY increase of 20%
RGI had a distribution network of 126 branches and nearly 10,700 intermediaries, as on March 31, 2013

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Reliance Commercial Finance

Reliance Commercial Finance (RCF) offers a wide range of products which include Home loans, Loans against property, SME loans, Vehicle loans, and Infrastructure financing

RCF is amongst the leading lenders in the Indian non banking finance space. The focus in this business continues to be on asset backed lending and productive asset creation. As on March 31, 2013, 100% of the loan book was secured

The disbursements for the year ended March 31, 2013 were Rs. 8,745 crore (US$ 1.6 billion) as against Rs. 7,937 crore for the corresponding previous period - a YoY increase of 10%

As on March 31, 2013, the assets under management (including securitized portfolio)

was Rs. 16,379 crore (US$ 3.0 billion) as against Rs. 15,078 crore as on March 31,
2012 - a YoY increase of 9%
The outstanding loan book as on March 31, 2013 was at Rs. 13,652 crore (US$ 2.5 billion), against Rs. 13,239 crore as on March 31, 2012 - a YoY increase of 3%. This loan book is spread across 74,000 customers from top 20 Indian metros

During the year ended March 31, 2013, RCF securitised loans of Rs. 2,172 crore (US$

399 million), as against Rs. 1,294 for the corresponding previous period

The total income for the year ended March 31, 2013 was Rs. 2,097 crore (US$ 386 million) as against Rs. 1,945 crore for the corresponding previous period - a YoY increase of 8%
RCF achieved a profit before tax of Rs. 342 crore (US$ 63 million) for the year, as against Rs. 254 crore for the corresponding previous period - a YoY increase of 35%

Broking businesses

Reliance Capital's broking business consists of Reliance Securities, one of the leading retail broking houses in India, that provides retail customers with access to equities, equity options, wealth management, mutual funds, and IPOs, and Quant Capital, which caters to the wholesale client segment, including foreign and domestic institutions, corporations and ultra high net worth individuals

The key focus is on the business verticals of equity and commodity broking, and wealth management

In equity broking, as on March 31, 2013, the business had nearly 7,15,500 broking accounts, an increase of 4%, with an average daily equities turnover of Rs. 2,491 crore (US$ 458 million), an increase of 2%
In commodity broking, as on March 31, 2013, the commodity broking accounts increased by 12% to nearly 39,700, with an average daily commodities turnover at Rs. 959 crore (US$ 176 million)
In wealth management, the AUMs as on March 31, 2013 increased to Rs. 1,023 crore

(US$ 188 million) - a YoY increase of 77%

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The business had revenues of Rs. 261 crore (US$ 48 million) for the year ended March
31, 2013

Profit before tax stood at Rs. 38 crore (US$ 7 million) for the year ended March 31,

2013 - a YoY increase of 18%

Distribution business

The distribution business of Reliance Capital, branded as 'Reliance Money' is a comprehensive financial services and solutions provider, providing customers with access to mutual funds, insurance products, gold coins, money transfer and currency exchange

Reliance Money is amongst the leading domestic distributors of financial products

with a pan India presence with over 6,200 outlets
In the gold coin business, through its pan India presence, Reliance Money has sold

nearly 5 tons of gold in FY13, an increase of 123%

Reliance Money, one of the largest private sector partners for Western Union Money Transfer handled nearly 25 lakh money transfer transactions during the year, an increase of 9%
The business generated revenues of Rs. 120 crore (US$ 22 million) for the year ended March 31, 2013, as against Rs. 106 crore for the corresponding previous period - a YoY increase of 13%

Profit before tax achieved for the year ended March 31, 2013 was Rs. 7 crore (US$ 1 million)

Shareholding Pattern as on March 31, 2013:

Category

No. of Shares

Shareholding (%)

Promoters

132,982,272

54.1%

Foreign Investors - FIIs, NRIs and others

50,024,947

20.4%

Domestic institutions/ Banks / Mutual Funds

13,867,954

5.6%

Indian Public

48,757,627

19.9%

TOTAL - 1.2 million shareholders

24,56,32,800

100.0%

Background

Reliance Capital, a part of the Reliance Group, is one of India's leading private sector financial services companies. It ranks amongst the top private sector financial services and banking groups, in terms of net worth. The company is a constituent of CNX Nifty Junior and MSCI India.
Reliance Group is amongst India's leading business houses with over 230 million customers. The Group has a strong presence across a wide array of high growth consumer-facing businesses of financial services, telecom, energy, power, infrastructure and media and entertainment.
Reliance Capital has interests in asset management and mutual funds; life and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; exchanges; private equity; asset reconstruction; proprietary investments and other activities in financial services.

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