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Analyst Meet / AGM
15-Oct-13
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Conference Call
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PTC India Financial Services
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Plans to venture into financing roads; coal mines development, railway works and T&D projects
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PTC India Financial Services (PFS) held its conference call on 15th Oct'13 and was addressed by Mr. Deepak Amitabh Chairman and Mr. Ashok Haldia Whole Time Director and CFO
Key highlights
- Loan disbursement during Sep'13 quarter stood at Rs 549 crore, growth of 66% y.o.y. Management strongly believes the company is set for an exponential growth in terms of revenues and profits in next couple of years.
- During the next couple of years, as per the management, the idea is to cash in the equity investments of about Rs 435 crore that the company has made so far and also to venture in financing new infrastructure space apart from power, i.e. into roads; coal mines developments, railway works and T&D projects.
- Management also expects that the reform initiative taken by government will accelerate further in the coming months and more clarity will emerge on coal blocks and health of discoms.
- Yield on assets was lower to 13.57% for Sep'13 quarter as compared to 14.19% for Sep'12 quarter largely due to shift from short term disbursements to more long term disbursements. Yields from short term disbursements for loans like for bridge funding etc are better than yields on long term disbursements. Interest spreads stood at 4.88% during Sep'13 quarter and management expects the spread to remain around these levels for next few quarters.
- Of the total loan asset of Rs 3125 crore as on Sep'13, nearly 40% constitute renewable energy and rest are thermal based assets. Renewable, especially wind generally takes about a year's time for capacity to go on stream as against thermal, which on an average takes about 3 years. Hence the share of renewable is going up, due to faster addition of capacities.
- Renewable loan book stands at around Rs 1200 crore, of which Rs 1036 crore belongs to wind energy, Rs 221 to solar and rest are biomass energy book.
- Company has total loan book of about Rs 2400 crore, of which Rs 900 crore are Long term loans, Rs 700 crore are short term, Rs 470 crore ECB, Rs 120 crore debentures and rest are bonds.
- GNPA was unmoved at slightly less than Rs 5 crore. Management continues to be positive on the health of assets and does not anticipate any further increase in NPA's.
- Other income is higher as it constitutes fee based income from loan syndication and lead institution activities.
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