IIFL FINANCE LIMITED October 28, 2021
The Manager, | The Manager, |
Listing Department, | Listing Department, |
BSE Limited, | The National Stock Exchange of India Ltd., |
Phiroze Jeejeebhoy Tower, | Exchange Plaza, 5 Floor, Plot C/1, G Block, |
Dalal Street, | Bandra - Kurla Complex, Bandra (E), |
Mumbai 400 001. | Mumbai 400 051. |
BSE Scrip Code: 532636 | NSE Symbol: IIFL |
Sub: Revised presentation on Unaudited Financial Results for the quarter and half year ended September 30, 2021
Dear Sir/Madam,
This is in reference to our earlier intimation dated October 27, 2021 for the submission of press release and presentation on the unaudited financial results. Kindly note that in slide no. 16 the Tier 1 Capital Adequacy Ratio ("CAR") of IIFL Home Finance Limited ("IFHL") has changed.
Accordingly, the Tier 1 CAR of IFHL should be read as 21.1% instead of 19.7% and total CAR of IFHL should be read as 30.7% instead of 29.4%
Please find attached the revised presentation to be made to the Investors/Analysts on the unaudited Financial Results of the Company for the quarter and half year ended September 30, 2021.
The same has also been made available on the website of the Company, i.e. www.iifl.com.
Kindly take above on record and oblige.
Thanking You,
Yours faithfully,
For IIFL Finance Limited
(Formerly known as IIFL Holdings Limited)
Digitally signed by SNEHA PATWARDHAN DN: c=IN, o=Personal, 2.5.4.20=35f2965f8d8bdfa92a36b7f320dc7a4ca8a7d6be bec0769c3ad8f02e0032e35b, postalCode=440001, st=MAHARASHTRA, serialNumber=f1b1b3d68166c449942ed0060d0ee454a0 0bb4657455660a2a608360fb10cb1c, cn=SNEHA PATWARDHAN, l=NAGPUR, pseudonym=3293403b04e84ed38b749b18613ce5de Date: 2021.10.28 11:37:36 +05'30'
Sneha Patwardhan
Company Secretary & Compliance Officer
Email Id:csteam@iifl.com
Encl: as above
CC:
Singapore Exchange Securities Trading Limited
2, Shenton Way, #02-02, SGX Centre 1,
Singapore - 068 804
IIFL Finance Limited (formerly known as IIFL Holdings Limited)
CIN No.: L67100MH1995PLC093797
Corporate Office - 802, 8th Floor, Hub Town Solaris, N.S. Phadke Marg, Vijay Nagar, Andheri East, Mumbai 400069
Tel: (91-22) 6788 1000 .Fax: (91-22) 6788 1010
Regd. Office - IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane - 400604 Tel: (91-22)
41035000. Fax: (91-22) 25806654 E-mail: csteam@iifl.com Website: www.iifl.com
Performance review
Quarter ended September 30, 2021 (Q2FY22) | Bloomberg: IIFL IN | |
IIFL Finance Limited | October 27, 2021 |
1. H1 & Q2 FY22 Financial performance | |||||||
i. Key highlights | ii. Financial performance | ||||||
iii. Asset quality | iv. Liquidity position | ||||||
2. | Business segments review | ||||||
i. Home loan | ii. Business loan | ||||||
iii. Gold loan | iv. Microfinance | ||||||
3. | Corporate, Digital strategy & ESG updates | ||||||
Key highlights (H1 and Q2 FY22)
Profit growth momentum- H1FY22 up 128% y-o-y; Q2FY22- up 37% y-o-y
Net profit grew 128% y-o-y in H1FY22 (6 months) to ₹557 Cr. The quarterly net profit was ₹292 Cr, up 37% y-o-y and 10% q-o-q
Liquidity comfort at all time high at ₹6,379 Cr
As at September 2021, free cash, equivalent and undrawn lines were ₹6,379 Cr, adequate to meet not only all near term liabilities but also to fund the growth momentum
Betting on growth- Added 4000 employees in H1FY22
We added 4000 employees in H1FY22, including 2700 in Q2FY22 itself. Commenced 230 new branches in Q2FY22. Also aggressive investment in technology and branding continues, betting on growth in next 2/3 years.
Maintaining RoE above 20% p.a., whilst funding growth
Notwithstanding large investment in growth causing spike in operating costs, our RoE remained above 20.0% and RoA above 2.5%. With ongoing expansion, operating cost grew 23% q-o-q
Industry leading fintech innovations- digital loans disbursement grew 39% q-o-q
Receiving great response to industry-first digital innovations- e.g. WhatsApp loans gets more than 60,000 organic leads in first 10 days. Digital loan disbursement grew 39% q-o-q.
Unswerving risk mitigation
Stringent credit, collection processes get a fillip from digital technology. Wave 2 flow into 90 days led to spike in GNPA of MFI loans, but asset quality and capital adequacy remain amongst best in the industry.
Key metrics (H1 and Q2 FY22)
Loan AUM
₹44,249 Cr
Up 8% y-o-y
Cost of Funds
8.7%
Down 33 bps y-o-y
Cash/ Undrawn Lines
₹6,379 Cr
Previous year Q2 ₹4,927 Cr
Capital Adequacy
25.9%
Previous year Q2 18.7%
Return on- Equity / Asset1
20.5% / 2.8%
Previous year Q2 17.7% / 2.5%
Gross / Net NPAs
2.3% / 1.1%
Previous year Q22 2.8% / 1.3%
Employees / Branches
23,775 / 2,914
Previous year Q2 17,334 / 2,383
Retail loans/ Wholesale loans
94%/6%
Previous year Q2 89%/ 11%
Net Profit
₹292 Cr
Up 37% y-o-y
Pre Provision Operating Profit
₹582 Cr
Flat y-o-y
Cost to Income
40%
Previous year Q2 34%
Provision Coverage
175%
Previous year Q22 155%
1Return on Equity and Return on Asset quarterly numbers are annualized
- Based on proforma GNPA/ NNPA (without considering Hon'ble Supreme Court order)
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IIFL Finance Ltd. published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 14:12:01 UTC.
