Capitaline

Analyst Meet / AGM 02-Nov-17

Conference Call

IDFC

Expects 20-25% annual growth for Infrastructure Debt Fund (IDF) for next two-three years

IDFC conducted a conference call on 31 October 2017 to discuss the financial results of the company for quarter ended September 2017. Sunil Kakar, MD & CEO addressed the call:
Highlights:

The company has recorded 4% growth in its net profit to Rs 480.20 crore in H1FY2018. The balance Sheet size has grown by 10% to Rs 126720 crore end September 2017. The net worth increased to Rs 11217 crore end September 2017 from Rs 10573 crore end September 2016.
On the banking business front, the retail business of IDFC Bank is setting up very well. The bank has stepped up monthly gross retail sector disbursements to Rs 650 crore and net retail sector disbursements to Rs 450 crore, while overall retail portfolio gained share to 28% of loan book. The non-funded business expanded 2.5 times to over Rs 25000 crore end September 2017, helping the franchise fee income to gain share to 15% of operating income. The bank has raised customer base to 2 million, while raising monthly customer acquisition to 1 lakh per month. The bank has also expanded network to 14126 Points-of-Presence end September 2017.
The mutual fund segment has emerged as the 7th fastest growing AMC among the Top 15 AMCs. The Average AUM touched Rs 68000 crore end September 2017. Equity AUM comprised 23% of total AUM.
The AMC added over 1000 active individual financial advisors during the quarter, and new client folios increased by 90% over last quarter. AUM of Corporate Bond Fund crossed Rs 10000 crore, Classic Equity crossed Rs 1500 crore and balanced fund crossed Rs 1000 crore.
IDFC Infrastructure Finance (formerly known as IDFC IDF) outstanding portfolio stood at Rs 3297 crore and borrowings at Rs 2849 crore end September 2017. Capital Adequacy ratio was at 23.8%. The company has healthy disbursements pipeline and top ratings. The asset quality was robust with NPA at nil level. The company expects annual loan growth of 20-25% for next two-three years.
IDFC Alternatives has total AUM of Rs 17716 crore across 9 funds in 3 asset classes end September 2017. About 86 investments have been made across funds.
IDFC Securities exhibited increase in market share in MF segment. The company has healthy deal pipeline in Investment banking segment.
All the business of the company are showing good business growth, while the company expects all business to sustain growth momentum.
The company would take all necessary action to unlock the value for shareholders. It would decide on listing of subsidiaries at right time and valuation.
The company has called-off merger talks with Shriram Group due to difficulties in arriving at relative valuations.

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