Capitaline

Analyst Meet / AGM 12-Feb-18

Conference Call

Muthoot Finance

Subsidiaries share in loans to increase to 10% by March 2018 and 15% by March 2019

Muthoot Finance conducted a conference call on 09 February 2018 to discuss the financial results for the quarter ended December 2017. George Alexander Muthoot, MD of the company addressed the call:
Highlights:

The consolidated asset under management (AUM) of the company increased 10% yoy to Rs 30702 crore end December 2017. The share of subsidiaries in the loan Book has increased to 8%, while the company expects to further improve the share of subsidiaries in loan book to 10% by March 2018 and further higher to 15% by March 2019.
The gold loan AUM of the company has moved up 5% to Rs 28265 crore end December 2017. The gold branch network of the company is nearly flat at 4303 branches end December 2017.
The company has announced special dividend with a strong earnings performance.
The loan book of the home finance subsidiary has increased to Rs 1100 crore end December 2017, while the company expects to raise home loan book to Rs 1400 crore by March 2018.
The loan book of microfinance subsidiary has increased to Rs 944 crore end December 2017.
The insurance broking subsidiary has also performed well, while improving first year premium collection to Rs 59 crore in the nine-month ended December 2017 compared with Rs 44 crore in the corresponding period last year.
The Sri Lankan subsidiary performance was subdued due to weak economy and political uncertainty in Sri Lanka.
The company has strengthened its collection team, while exhibited sharp decline in gold auctions to Rs 269 crore in Q3FY2018 from Rs 770 crore in Q2FY2018.
As per the company, about 15% AUM growth for gold loan business to be sustainable, while the subsidiary loan book growth can be much more than 15%.
As per the company, the net interest margin of around 12% can be sustainable. The company expects return on assets of 3.5% for medium to long term.

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