H1FY18 FINANCIALS
OCTOBER 30, 2017
INDEX
1. Key Highlights (IDFC Consol) 4
2. Entity wise P&L 5
6. Fund Snapshot – IDFC Alternatives 18
4. Business Highlights – IDFC Infrastructure Finance 12
3. Key Highlights - IDFC Bank 6
5. Highlights – IDFC AMC 13
7. Business Highlights – IDFC Securities 19
8. Shareholding 20
3
Balance Sheet
Sep17 : ` 126,720 Cr
Sep 16 : ` 114,710 Cr
IDFC (Consol)PBT ` 1194 cr(PY ` 1158 cr)
PAT(after MI and share of associates)
` 480 Cr (PY ` 463 crore)
Net worth
Sep17 : ` 11,217 Cr
Sep 16 : ` 10,573 Cr
Alternatives
Fund Size : `17,716 CrNo of Investments : 86Revenue : ` 57 CrPAT: ` 3 Cr
AMC
QAAUM : ` 66,361 CrRevenue: ` 158 CrPAT : ` 43 Cr
Securities Market Share : MF 10.8% PY 8.2%DII 8.2% PY 8.5%FIIs 9.5% PY 11.7%Revenue : 59Cr PAT : 22 Cr
IFL
Loan Book : ` 3,297 CrPAT : ` 35 CrNet Worth : ` 652 Cr
IDFC vs. Nifty
Key Highlights (IDFC Consol)
8.26%
6.70%
NiftyIDFC
5All figures in ` Crore
Entity wise P&L (H1FY18)
* Others Projects, Securities Singapore, IDFC FHCL etc.# includes IDFC Capital (Singapore)
Particulars IDFC Bank AMC Alternatives# IFL Securities Others *Total
H1FY18Operating Income 178 1,783 158 57 53 59 208 2,496
Operating Expenses 17 752 92 45 7 26 9 948
Pre-Provisioning Operating Profit 161 1,032 66 12 45 33 199 1548
Provisions -121PBT 1158
Tax, MI & Others 678PAT 480
6All figures in ` Crores
No. of Customers(Total: 19.4 lacs | IBL customers: 11.1 lacs)
Customers acquired in Q2 FY18: 337K (B+: 74K; BB: 164K; IBL: 100k)
Network (14,126) CASA/Gross Advances
Franchise Fee3
/Total Non Interest Income
41.9%3
(` 106.5 Cr)
Franchise Fee/Total Operating Income
14.5%3
Retailisation of Funded Book: ` 18,064 Cr
Direct1 : 7.2%, Indirect2 : 20.3%
PAT GrowthQ2FY18: ` 233.7 Cr
25.2%
26.1%
27.5%
Mar-17 Jun-17 Sep-17
1. Direct Retail Funded Book = Bharat Plus, SME, BB excluding onlending2. Indirect Retail Funded Book = Onlending, PTC, Buyout 3. Including loss on sale of equity: 83.7% AND 17.5%, respectivelyNote: Grama Vidiyal (GV) is now renamed as IDFC Bharat Ltd (IBL)
YoY
40%
1.7%
3.3%
1.8%
4.1%
5.9% 6.3%
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
IDFC Bank - Key Highlights: Q2 FY18 (1 of 2)
409 1,1544,275 5,708
8,34910,306
2,481
3,080
3,337
324
335
350
358
383
6571
74
74
86
100
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
BranchesBC / IBL outletsAadhar payATMs/MATMs
QoQ
(In lacs)
47%
0.6
11.3 12.413.8
16.0
19.4
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
7
IDFC Bank - Key Highlights: Q2 FY18 (2 of 2)
Credit Outstanding1
` 90,598 CrNet Adv: ` 48,830 Cr
Credit Inv: ` 16,347 Cr LC/BG/LuT: ` 25,421 Cr
PAT
` 233.7 CrQ1 FY18: ` 437.5 Cr
RoA | RoE
0.8% | 6.2%
Network & Customers
Asset mix (` 1,19,952) Operating Income
` 734 CrNII: ` 480 Cr
Non Int: ` 254 Cr
NIM
1.8%Loan NIM: 2.9%
EPS (Q2) | Book value per share
0.7 | 44.3
Funding mix (` 98,834) Expenses
` 362.3 CrHR: ` 163 Cr
Non-HR: ` 200 Cr
Cost/Income Ratio
49.4%
Including loss on sale of equity: 59.7%
Headcount
8,377(Ex-IBL: 4,677)
Q1’18: 7,867 (+6.5%)1including IBL
CASA Ratio2
8.2% (Q1:6.8%)
Asset Quality Capital Adequacy
19.3%4
Tier 1: 19.0%
IDFC Bank vs. Bankex3
3,200
23,505
10,434
25,464
1,548
19,360
15,323
CASA
FD
Infra Bonds
Bonds & Deb.
FC Loans
CBLO/Repo/LAF
Others incl CDs
65%
45%
GNPL: 3.9%Q1: 4.1%
NNPL: 1.6%Q1: 1.7%
Net RSA: 1.0%
Net SR: 3.2%
48,830
16,347
2,470
16,740
29,172
6,393
Net Advances
Credit Inv.
Cash & Bank
Statutory Inv.
Trading Inv.
Other Assets NII/Total
HR/Total
1%
1. CreditOutstanding (FB+ NFB) grew 9% to ` 90,598 Cr as of 30th Sep’17 from ` 83,157 Cr as of 30th Jun’17. Funded Credit Outstanding grew 4% from ` 62,675 Cr as of 30th Jun’17 to `65,177 Cr as of 30thSep’172. CASA Ratio = CASA/(CASA+FD+CD) 3. 1st April 17 to 30th Sep 174. Increase in capital adequacy due to change in risk-weights for certain category of assets due to RBI clarification received
Network: 14,126Branches: 100ATMs: 48Aadhar pay: 3,337Micro ATMs: 10,258BC & IBL : 383
CustomersTotal: 19 lacsIBL: 11 lacs
11%
34%
YoY
CASA: ` 3200 Cr • Bharat: ` 125 Cr (`138 Cr)• Bharat Plus: ` 685 Cr (`565 Cr)• Wholesale: ` 2389 Cr (`2147 Cr)
8
IDFC Bank - 2.5x increase in Non-funded exposure YoY
3,526 4,683 4,930 5,008 5,554
5,341
7,294 9,461
10,173
13,537
1,857
2,735
4,213 5,301
6,330
10,724
14,713
18,605 20,482
25,421
Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
LuT
Bank Guarantees
Letter of Credit
9
IDFC Bank - Retail disbursement rate > Rs. 650 Cr / month & rising
• Monthly asset disbursement run-rates1:
Segment (in Rs. Crores)
IBL 307
Bharat 98
Bharat plus 255
Total 660
All figures in ` Crores
42144 194
403501
766
87
150131
152
197
295
129
294 325
555
698
1060
Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18
Quarterly disbursal w/o IBL
Bharat
Bharat Plus
42 144 194403 501
76687
150 131
152197
295
158
728
849
921
129297
483
1283
1547
1982
Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18
Quarterly disbursal with IBLGV
Bharat
Bharat Plus
1. Run rate defined as monthly average in last 3 months
10
IDFC Bank -140% increase in core deposits (CASA + Retail TD) YoY & 12% QoQ
All figures in Rs Cr
445869
1791
899
2094
28503200
107
412
1169
2204
2003
3431
3843
552
1281
29603103
4097
6281
7043
Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
Retail + TD
CASA
11
IDFC Bank - >19 lac customers (of which 8.3 lac excl. IBL); Current customer acquisition run-rate of 113k per month (excl IBL: 79k)
0.61.3
2.5
4.1
5.9
8.3
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
Customers w/o IBL
10.0 9.9 9.6 10.1 11.1
1.3 2.5 4.15.9
8.3
0.6
11.3 12.4
13.816.0
19.4
Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17
Customers with IBLExcl IBL IBL
12
IDFC Infrastructure Finance Ltd - Business Highlights
■ Rs 1,278 crores of gross sanctions and Rs 822 crores of gross disbursements during half yearending September 30, 2017
■ Loan book grew to Rs 3,297 cr from Rs 2,683 cr in FY17
■ Prepayments of Rs 145 cr & repayments of Rs. 64 cr
■ Fee income: Rs 3.97 cr in half year FY18
■ PBT/ PAT: Rs 42.7 crs
■ Well diversified portfolio across 41 assets in multiple sectors
■ renewables, roads, IT SEZs, hospitals, transmission, education, telecom etc.
■ Healthy asset quality with zero overdues
■ Incremental funds raised during the quarter by way of bonds - Rs 744 cr
13
IDFC AMC - Highlights
Quarterly Average AUM of ` 66,361 crore, Average AUM for Sep 2017 was Rs. 68,000 crore
Equity AUM comprises 23% (including arbitrage) of total AUM In Q2 FY18 IDFC AMC was the 7th fastest growing AMC among the Top 15
AMCs Achieved record equity gross sales - crossed Rs 750 cr in Sep’17 Added over 1000 active IFAs during the quarter, and new client folios
increased by 90% over last quarter AUM of Corporate Bond Fund crossed INR 10,000 cr, Classic Equity crossed
INR 1,500 cr and Balanced Fund crossed INR 1,000 cr Leveraged Marketing & PR initiatives to help build visibility and presence
across a wider market segment
1,354,256
1,441,027
1,610,720
1,693,339
1,829,584
1,951,730
2,094,852
Mar '16 Jun '16 Sep '16 Dec '16 Mar '17 Jun '17 Sep '17
Industry QAAUM (INR cr)
52,129
54,091
56,656
57,997
60,636 61,361
66,361
Mar '16 Jun '17 Sep '16 Dec '16 Mar '17 Jun '17 Sep '17
IDFC QAAUM (INR cr)
IDFC AMC - QAAUM: We grew faster than industry in Q2’18
14
IDFC AMC - QAAUM: We were the 7th fastest growing AMC among the Top 15 AMCs
15
INR Cr
Fund House Q1 2018 Q2 2018 % Growth Rank by % Gr
ICICI Prudential 260,225 279,066 7.2% 8
HDFC 253,044 269,781 6.6% 9
Reliance 216,107 225,864 4.5% 12
Birla Sun Life 205,715 224,650 9.2% 5
SBI 168,816 188,030 11.4% 2
UTI 145,340 150,669 3.7% 13
Kotak Mahindra 101,197 110,630 9.3% 4
Franklin Templeton 90,619 94,747 4.6% 11
DSP Blackrock 70,991 77,819 9.6% 3
Axis 63,599 69,088 8.6% 6
IDFC 61,361 66,361 8.1% 7
L&T 44,484 52,749 18.6% 1
Tata 42,148 44,897 6.5% 10
Sundaram 32,178 33,150 3.0% 14
DHFL Pramerica 25,720 25,191 -2.1% 15
Top 15 1,781,546 1,912,692 7.4%
Expand Retail Distribution coverage
Increase focus on SIP and Direct Investors
Improve Efficiency, foster Excellence
Add Key Capabilities to Diversify
IDFC AMC - Operating Plan Priorities
1
2
3
16
4
IDFC AMC - Capabilities implemented during the quarterInvestments to support growth and operational efficiency
Expand Retail Distribution coverageIncrease focus on
SIP and Direct InvestorsImprove Efficiency,
foster Excellence
1
2
3
GST requirements implemented smoothly
‘Insta-Redemption’ – a new online transaction feature enabled for immediate
redemption from Cash Fund
Marketing Automation Platform has been implemented which assists in campaign
management and speedy dissemination of information to investors
Purchase of multiple schemes with a single cheque enabled
Launch of ‘Return of One Idiot’ created distributor and client engagement
opportunities
17
18
IDFC Alternatives - Fund Snapshot
All figures in ` Crore
* Completely Exited
ParticularPrivate Equity Infra RE
TotalFund I * Fun II Fund III Fund IV IIF1 IIF2
Office Fund * REYF SCORE
Fund Size ` 844 1,858 2,903 576 3,837 5,500 688 749 761 17,716 Number of Investments 12 17 12 2 17 12 2 8 4 86Number of Exit Events (Full & Partial) 12 17 7 - 9 - 2 7 - 54
19
IDFC Securities - Business Highlights
Increase in market share & Revenues in MF segment
Healthy deal pipeline – Investment banking
Aiming to increase Brokerage revenue
20
Shareholding
% of Top 10 shareholders
Sr No Name Category 31-Mar-17 30-Sep-17
1 Government of India GOI 16.38% 16.38%
2 Sipadan Investments (Mauritius) Ltd. FPI 9.47% 9.47%
3 Ashwin Dhawan PUB 2.62% 2.62%
4 Orbis Sicav - Asia Ex-Japan Equity Fund FPI 3.18% 2.60%
5 East Bridge Capital Master Fund Limited FPI 2.43% 2.49%
6 ICICI Balanced Prudential Fund MF 1.41% 2.18%
7 Aksah Bhansali MF 0.05% 1.86%
8 Birla Sun Life MF 0.56% 1.79%
9 Platinum Asia Fund FII 1.38% 1.20%
10 ICICI Prudential Dynamic Plan MF 1.06% 1.13%
Banks, 5.07%
Body corporates,
5.53%
FII, 30.97%
GOI, 16.38%
MF, 17.15%
Retail, 24.90%
Banks, 6.50% Body corporates,
3.60%
FII, 46.90%GOI, 16.40%
MF, 8.70%
Retail, 17.80%
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