Highlights:

The company has recorded the highest ever net profit of Rs 1706 crore in FY2022. The company has ranked among top 100 listed companies by profitability in FY2022. The company is on track to deliver ahead of FY24 target.

The company has continued strong retailization momentum and raised the overall customer base up by 36% yoy to 35 million end March 2022.

The lending book has increased at a double digit pace of 11% to Rs 671854 end March 2022. Total assets under management of mutual fund business has increased 10% to Rs 3.7 lakh crore. The gross written premium of the insurance business has surged 25% Rs 13867 crore in FY2022.

The company is delivering superior performance across cycles through diversification. It has recorded the fastest 3 years PAT growth amongst non-bank financial players within Top 100 listed Companies.

The NBFC loan book has increased 13% to Rs 55180 crore, with Retail + SME book rising 25% and gaining share to 62% from 56% last year.

NBFC business added 41 branches in Q4 FY22 taking the total to 159 branches with 76% presence in Tier 3/4 cities.

The collection efficiency was strong at 99.6% in March 2022, better than pre covid levels.

The restructured book declined to 3.0% or Rs 1667 crore of book and its collection efficiency was at 97.1% in March 2022.

Stage 2 declined to 5.4% from 7.5% a quarter ago, while 60 dpd + dipped to 1.1% from 1.5%.

The company has reduced GS 3 loan book to 3.1% from 3.9% and NS 3 also dipped to 1.7% from 2.3%.

The provision coverage ratio has increased up to 45% from 41.9% a quarter ago.

The company has resolved NPAs of Rs 130 crore in Q4FY22 and its on track to resolve Rs 220 crore by H1FY23.

The company is targeting 20%+ overall book growth in FY23 with 65%+ Retail and SME mix.

Its targeting over 2x growth in small ticket and ecosystem products. It would be doubling branch footprint to 320+ branches, primarily in Tier III/IV locations.

The focus would be on leveraging recently launched Digital MSME platform for sourcing from across

The company has maintained an overall management overlay of Rs 186 crore across stages including CoVID provision.

Housing Finance

Affordable housing finance book grew by 39% to Rs 4510 crore, while gaining share in overall housing finance book to 38% up from 27% last year.

Customers grew by 41% to 31,000 from 22,000 a year ago, with ATS of Rs 14 lakh in affordable business.

There is strong collection efficiency at 98.8% in March 2022.

The company has reduced GS3 to 2.02% from 2.12% a quarter ago and and NS3 declined to 1.34% from 1.40%.

The Stage 2 book also declined to 1.68% from 1.98% a year ago, while 60+ DPD book reduced to 0.74%.

The company has maintained management overlay of Rs 84 crore (20% of restructured Portfolio under moratorium as on March 2022)

The NIM was highest at 4.52% up 89 bps yoy supporting NII growth of 23%.

The company is targeting 20% portfolio growth in FY23 with an affordable mix of 50%.

The company is expanding branch footprints from 120 to 200 and relationship officers count from 1000 to 2000.

Restructured Loan Book under moratorium declined to 3.4% end March 2022.

Mutual Fund

Mutual Fund QAAUM increased 10% yoy to Rs 2.96 lakh crore backed by consistent investment performance. Equity QAAUM surged 25% to Rs 1.21 lakh crore with equity mix rising to 41% from 36%.

The company registered the highest ever profit in FY22.

The company launched 13 products in FY22 in the Passive segment, while 15+ new products are in pipeline

Investor folios increased to 7.9 million end March 2022 and added 1.29 million folios in FY22.

Individual MAAUM increased 9% to Rs 1.38 lakh crore with rising to 48%.

New SIP registrations were 3.24 lakh in Q4FY2022 rising 46% yoy. The monthly SIP 3 book was Rs.895 crore.

The company has presence across 280+ locations with over 80% are in B 30 cities. The company has a network of 72,000+ MFDs, 110+ banks, 240+ national distributors. The company also has strategic partnership with 80+ Fintechs to scale up sourcing through ecosystems.

Life Insurance

Individual first year premium increased 11% in Q4 against 9% growth for Industry, driven by productivity led growth across individual channels.

FY22 Renewal premium jumped 24% yoy, with 22% CAGR over 2 years.

Digital Renewal Collection at 73% in value with 85% policies renewed digitally.

Total Premium increased 24% Rs 12140 crore with 23% CAGR over 2 years.

Achieved 15% Net VNB margins for FY22 rising 440+ bps yoy, a year ahead of guidance given earlier.

The company is targeting 17% Net VNB for FY23

The company is also targeting 18% 20% growth in overall first year premium.

Continue traction on Net VNB and ROEV with a focus to double net VNB in 3 years Investment in Partnership channels in FY23 to grow mindshare and penetrate more branches.

Focus would be on Proprietary channels to grow on the back of productivity.

The company is targeting aggressive expansion of high value accretive Individual direct and group credit life segments.

Health Insurance The company continued growth momentum: with 33% yoy growth in GWP to Rs 1727 crore in FY22.

Industry market share increased to 2.1% from 2% a year ago.

Retail GWP increased 23% to Rs 1308 crore and retail and rural mix rose to 76%.

Total lives covered increased 1.4x yoy to 19 million.

The company achieved breakeven in Q4FY22, which is one of the fastest break even amongst SAHI validated differentiated business model.

Focus on expense & claims management. The combined ratio with covid Claims at 127% against 120% last year. The company is targeting GWP growth at 40%+ in FY23 by investing in capacity and driving higher productivity.