Capitaline

Analyst Meet / AGM 03-May-16

Conference Call

IDFC

IDF-NBFC can more than double portfolio size with current capital base

IDFC conducted concall on 02 May 2016 to discuss financial results for the quarter ended March 2016. Vikram Limaye, Director, Sunil Kakkar, Group Chief Financial Officer addressed the call:
Highlights:

The company has recorded net profit of Rs 130.45 crore for the quarter ended March 2016. Reported a loss of Rs 935 crore in FY2016 on account of the special provision of Rs 2639 crore
The balance sheet size of the company stood at Rs 77623 crore, while networth stood at Rs 10109 crore at end March 2016.
All the business of the company are well capitalised and profitable, while they are well poised for growth.
The company has not declared any dividend for FY2016 on account of losses. However, as per the company, it would be returning to profitability in FY2017 and would be ready to distribute surpluses to the shareholders.

IDFC Bank

Outstanding Credit (Funded Book + Non Funded Book) grew 27% to Rs 53,580 crore as on March 31, 2016 from Rs 42,128 crore as on 01 October 2015
Non-fund business was 11% of credit outstanding up from 5% a quarter ago
Deposits stood at Rs 8219 crore, CASA at Rs 445 crore and Term Deposits at Rs 7774 crore
Asset quality stable with strong provisions cover. Net NPLs at 2.4% and net restructured accounts at 2.9%
Well Capitalised Bank with total Capital Adequacy Ratio (CAR) of 22.04% and Tier 1 CAR of 21.50% under Basel III
Total number of branches were 60 (Bharat Bank: 45, Consumer Bank: 11 and Commercial & Wholesale Bank: 7)

IDFC IDF

Outstanding portfolio consisted of 23assets amounting to Rs 1202 crore at end March 2016. The portfolio includes exposure to a diversified set of borrowers across the infrastructure spectrum including roads, power, education healthcare and SEZs.
The long term borrowings stood at Rs 808 crore at end March 2016
The Capital adequacy ratio was strong at 46.2% at end March 2016.
Networth of the company stood at Rs 582 crore.
The IDF is expecting to provide RoE of 15% in next couple of years.
With the strong capital base, the portfolio size can be more than doubled without further capital raising. The ploughing back of profit would also improve the capital base of the company.
The company makes gross spreads of 150-175 bps.

IDFC AMC

The mutual funds business has average AUM of Rs 54487 crore at end March 2016, up 15% yoy. The equity AUM comprised 25% of total AUM. Expects further traction in equity AUM.
The AMC business do not require any capital, while the company contribute about 7.5-10% of the fund raising of the business, as a sponsor.

IDFC Alternatives

The business manages AUM of over Rs 16379 crore across 7 funds in 3 asset classes.
The business has total of 71 investments across funds.

IDFC Securities

The securities business is doing well, while the pipeline of investment banking business is healthy for FY2017.

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