Transcription
12 May 2022BSE LimitedCorporate Relationship Department25th Floor, Phiroze Jeejeebhoy Towers,Dalal Street, Fort,Mumbai - 400 001.BSE Scrip Code: 524000National Stock Exchange of India LimitedThe Listing Department,Exchange Plaza,Bandra- Kurla Complex, Bandra (East),Mumbai - 400 051.NSE Symbol: POONAWALLADear Sir / Madam,Subject: Investors/Analysts’ PresentationReference: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 (‘Listing Regulations’)Pursuant to Regulation 30 of the Listing Regulations we are enclosing herewith thepresentation to be made to the Investors/Analysts on the Financial Results of theCompany for the fourth quarter and financial year ended 31 March 2022.The presentation is also being uploaded on the website of the Company at the ls.php in accordance with Regulation46 of the Listing Regulations.Kindly take the above intimation on record.Thanking You,Yours faithfully,For Poonawalla Fincorp Limited(Formerly, Magma Fincorp Limited)Shabnum ZamanCompany SecretaryACS-13918
Poonawalla Fincorp Limited(Formerly known as Magma Fincorp Limited)Investor Presentation Q4FY22
Agenda1Overview3-102Executive Summary & Business Update11-213Business and Financial Highlights: Consolidated22-304Business and Financial Highlights: Subsidiary / MHDI31-435Board Members Shareholding Pattern44-462
We started our journey when there wereindustry headwinds of pandemic but wethrived by focussing on the basics, therebydelivering on our stated objectives.We strengthened during covid and are nowbetter placed by building digitized processes,granular portfolio and inherent resilience.
Poonawalla Fincorp – At a glance (Consol.)What defines us“Young and resilient NBFC which rebooted itself in the most tryingtimes of pandemic”“Catering to the financing needs of young India, both consumer andsmall business”“Offering diversified products to have a sustainable businessgrowth”“Agility of a fintech along with best-in-class risk management andcustomer experience”“Technology enabled to foster innovation and differentiation andlead in chosen segments”“Focussed on creating value for its customers, shareholders andemployees”AUMDisbursement 16,579 Cr 9,494 Cr 17% YoY 158% YoYRoANet stage 32.5%1.1%-3.7% (FY21)-8 bps YoYDebt / EquityNetworth1.6x 6,058 Cr4.8x (FY21) 176% YoY4
And having weathered the headwinds wenow have structural tailwinds which arehelping us accelerate.
The Acceleration is Driven by Large millennial andGenZ baseFormalization ofMSMEsGrowing acceptance ofcreditRising smartphonepenetrationHousing for all and otherinitiatives by Govt.Resilience shown byMSMEsVisible DemonstrationeffectIndustryConsolidation6
We have a True Retail Lending strategy. Focusing on granular portfolioHealthy mix of asset classesRisk based pricingFocus on asset quality
Uniquely PositionedInherent Strengths Brand StrengthDigital Focus and Technology LedRetail Franchise Flagship financing arm of CyrusPoonawalla GroupShared brand identityAgility in partnering with ecosystemReduction in turn-around-time (TAT)Reduction in customer acquisition costSuperior customer experience Focused on retail and small business segmentwith diversified product suitePan-India pure play affordable housing entityGranular book Risk based pricingRobust Balance SheetDistribution Aligned with Target MarketEfficiently Managed Liability Book Low leverage: Post capital infusion ofRs 3,456 cr in May21, D/E stands at1.6x as on 31st Mar22Ample headroom for growth Moving towards optimum distribution mix ofdirect, digital and partnershipDigital distribution capabilities well supplementedby Pan-India physical presenceEstablishing trust with the marketplacestakeholders & cementing leadership Flagship group company Serum Institute of Indiarated ‘AAA / Stable’ by CRISIL & CAREPFL & PHFL long term (LT) credit rating atAA /Stable by CRISIL & CARE to capture market opportunities and address challengesUntapped credit needs of MSMEs &ConsumersUpward trend of digital adoption, favorabledemographic dividend & financialization of spendingShift towards ecosystem play8
Management Vision 2025FY22 performance in line with the long-term guidanceVision 2025Our journey till FY22 is on trackTo be amongst Top 3 NBFCs in consumer andTop 3 NBFC for consumer & smallsmallbusinessfinanceTop3 NBFCbusinessfinanceconsumer & MSME financeRisk-calibrated accelerated growth 3x of FY213x increase from FY21 AUMAUM3xincrease inVisionAUM 2025Entered digital loan consumption space &achieved leadership position in Pre-Owned Carand Loan to Professionals segments on monthlydisbursement basisAmongst the lowest COF in the industry 250 bps250 bpsin Costborrowing cost250bpsreductionin reductionBorrowingreduction in borrowing cost215 bps reduction in average cost of borrowingbetween Q1FY22 and Q4FY22Best-in-classNet Stage 3 1%1% NetAssetStageQuality;3 1%Net NPAsNet Stage 3 at 1.1% as on 31st Mar 22Acceleratethe growthoftrajectoryof PHFLValue unlockingPHFL throughIPOfollowed byIPOvalueunlocking through IPOof PHFLPHFL reached 5,000 cr AUM; Initiated fund raiseof upto 1,000 cr on preferential basis for valueunlocking and future growth9
Proposed Capital Raise of upto 1,000 cr in PHFLThe Board of Directors of the Company at its meeting held on May 12, 2022, has accorded an in-principleapproval to raise funds in Poonawalla Housing Finance Limited. Onboard investor/s with a view of long-term business partnershipNature ofTransaction Raise not exceeding 1,000 crore with stake dilution of less than 15% in one or more tranches byway of preferential issue during the Financial Year 2022-23 Opportunity: Given the deep unserved potential of the affordable housing segment, favourabledemographics and supportive government policies, the Company proposes to raise growth capitalfor network expansion and to support AUM growthRationale Proven track record: PHFL has achieved remarkable disbursement growth of 57% in FY22 ; AUMhas shown 2x growth in last 3 years Future Growth Capital: PHFL AUM is projected to grow at a CAGR of 25% from 5,060 cr inFY22 to more than 10,000 cr by FY25 Value unlocking of PHFL: Kickstarting fund raise to be followed with an IPO in future10
Agenda2Executive Summary & Business Strategy11-2111
Consolidation isn’t a new concept but needs tobe done for the right reasons and in the rightmanner to set up the organisation forsustainable growth.We have built a strong foundation that ispropelling us into the growth orbit.
Consolidate. Grow. Lead.FY2022FY2023FY2025ConsolidateGrowth trajectoryMarket Leadership Realign and revamp products portfolio Build scale with new products and Lead in chosen products andand branches Build digital and data analyticscapabilities Fortify the risk management framework Strengthen human capital andcentralise operationsexpand cross-sell / up-sell Move towards a D2C model – branchlight with enhanced digital capabilities Strengthen process automation andgeographies Lead in process automation anddata analytics usage Amongst the lowest cost ofborrowingdata-analytics Robust risk management systemConvergence of Calibration, Growth, Scale, Quality and Profitability withtechnology as backbone13
Executive Summary - ConsolidatedConsolidation phase is now propelling us into growth orbit for FY23Strong business momentum Sequential QoQ rise in disbursement for all product verticals Disbursement in Q4FY22 was 1.8x of that in Q3FY22 Highest ever monthly disbursement in Mar22 New products steadily scaling up Focused AUM growth robust at 64.0% YoY and 17.3% QoQ Total AUM growth 16.5% YoY and 8.9% QoQ Poonawalla Housing Finance Limited (Subsidiary) crossed 5,000 cr AUM milestone in Q4FY22Value added product proposition Leading player in pre-owned car financing segment Well placed to ride the rising trend of digital marketplace consolidation Unique product offering ‘Loan to Professional’ SME LAP offering now captures 75% of MSME industry clusters 100% Digital Journey in personal, business & professional loans for superior customer experience Pan India Affordable housing loan playerGrowth in customer acquisition Loans underwritten in Q4FY22 rose to 2.0x of that in Q3FY22 Partnerships starting to accelerate customer acquisition Digital customer acquisition has picked up 10x rise in leads generated through digital medium Focus on cross sell / up sell Algorithms sharpened for cross-sell & pre-approved offers14
Executive Summary - ConsolidatedConsolidation phase is now propelling us into growth orbit for FY23Borrowing book at competitive rates 215 bps reduction in avg. Cost of Borrowing (CoB) between Q1FY22 and Q4FY22 62 bps reduction in Q4FY22 Adequate liquidity buffer of 3,890 cr as on 31st Mar22 CRISIL and CARE assigned ‘AA /Stable’ long term rating to both PFL and PHFLAsset quality Improvement NS3 book at 1.1% on Mar22 vs 1.8% on Dec21 GS3 book at 2.7% on Mar22 vs 3.5% on Dec21 Collection efficiency at 108.4% in Mar22 vis-a-vis 99.1% in Dec21Rise in profitability Q4FY22 NIM 33 bps YoY and 77 bps QoQ FY22 NIM 65 bps Q4FY22 RoA at 3.1% with QoQ rise in each quarter during FY22 Q4FY22 PAT increased by 23.2% QoQ15
Business Transformation Yielding ResultsDigital Distribution PeopleDigital transformation Significant increase in digital NACH mandate and digital collections 100% digital onboarding of channel partners initiated with 1 day turnaround time 100% digital journey for unsecured products with E-KYC, E-mandate & E signing Automated BRE for quick decisioning Policy optimization & rationalization done through portfolio deep dive using advanced analyticsStrengthened distribution – Digital, Direct and Partnership (DDP) Entered digital consumption loan space through partnership DDP contributed 17.5% to the total Q4FY22 disbursement 43.7% QoQ growth in DDP disbursement in Q4FY22 Cross sell disbursement increased 28.3% QoQPeople & operations consolidation Enhanced the ESOP coverage to include middle management: To help build meritocratic culture, retain top talent, andemployee stake in growth of the company Started ‘Future ready’ human capital initiatives: Competency framework, L&D initiatives, Productivity enhancement Registered office moved from Kolkata to Pune16
Building a Tech Led PlayCustomersPartnersSelf service online web applicationContact center led digital onboardingContactless customer service through BotsExtended API InfrastructureCRM ExtensionMarket Place PartnershipsDigitized Operating Layer with controls inbuiltSales Team DigitizationCredit Decision AutomationRobotic Process AutomationDigitized CollectionsModular Scalable Secure Analytics Driven Plug & Play TechnologyAPI BackboneCloud Ready InfrastructureBest-in-Class InfosecData Analytics Driven17
Deep Investments in TechnologyCoreMicro ServicesbasedarchitectureCloudCloud basedapplicationsBuilding an integratedone stop solution for ourcustomers and partnersAPI FactoryAPI basedbackbone forintegrationsInfosecCyber resiliencecompetencies andthreat intelligencetoolsOmni channel presencegetting poweredthrough the datascience engine18
Digital to the CoreDigitalizing end to end journeyDigital KYCSales &OnboardingTATReduction CKYC EKYC VKYCSmart Contract & Digital EMIsDigital E-Application & E-SignOnboarding & E-AgreementDigital NACH E-NACHDigital CollectionsEfficientCollectionsOperational& CollectionEfficiency Bharat Bill Pay, UPI Payment Gateway, Wallets Reduce Non EMI Collection CostDistributor AdvocacySystemDrivenPayouts Enabling Rewards & IncentiveCampaigns Configurable Rule-Based calculationUnified Payments PlatformPaymentplatforms Integrated across journeys Realtime Payment posting Smart Reconciliation with AutomationDigital Onboarding for Partners Unified Channel Partner PortalDigital WhatsApp & Chatbot supportOnboarding Instant Reports, Payment Reconciliation19
Digital to the CoreDigitalizing end to end journey24X7 Digital ServiceMultilingualDigitalInteractions WhatsApp, Chat & Email Bot IVR Bot, AV Bot (Voice biometric) WhatsApp for interactionsPortal & Mobile AppIncrease PortalUsage Digital Lodgment & WorkflowIntegrations Enable Top QRCs on Portal andMobile AppCustomerEngagement& ServiceCustomer Advocacy Outbound Audio-Visual BotDigitising Omnichannel platform for top-up &Touchpoint VOCscross sell offers Co-browsing/Video AssistStraight Through Processing (STP)STP RatioImprovement Maximum Services on DigitalChannels Email BOT - Increase Auto reply % RPAs & Intelligent OCR20
Product SuiteTailored for the target segment identifiedExisting productsUpcoming productsPre-owned CarsDigital Business LoansSupply Chain FinanceAffordable Home LoanDigital Personal LoanMerchant Cash AdvanceAffordable LAPDigital Loan to ProfessionalsConsumer FinanceMedical Equipment LoanDigital SME LAPEMI Card & Credit CardAuto LeaseDigital Consumption LoanMachinery LoanFocus on consumer and small business finance to aid further growthGranular portfolioFocus on credit testedcustomersData analytics drivenapproachCross-sellDigital First approach across product lines21
Agenda3Business and Financial Highlights: Consolidated22-3022
Q4FY22 Performance Highlights - ConsolidatedOn path to achieve 2025 visionAUM16,579YoY 16.5%QoQ 8.9%CoB7.4%QoQ*-110 bpsYoY-209 bpsNIMRoA9.5%3.1%YoY 33 bpsQoQ 77 bpsQoQ 53 bpsYoY-DisbursementGS3NS3PAT3,3362.7%1.1%119YoY 133.9%QoQ 80.8%YoY-103 bpsQoQ-84 bpsYoY-8 bpsQoQ-67 bpsAmounts in cr Figures are for consolidated entity CoB Cost of borrowing * 63 bps reduction from Q3FY22 normalized borrowing cost of 8.0%Q4FY21 PAT-648QoQ 23.2%23
FY22 Performance Highlights - ConsolidatedOn path to achieve 2025 visionAUMCoBNIMRoA16,5798.6%*8.9%2.5%YoY 16.5%YoY-109 bpsYoY 65 bpsYoY-DisbursementGS3NS3PAT9,4942.7%1.1%375YoY-8 bpsFY21 PAT-559YoY 158.0%YoY-103 bpsAmounts in cr Figures are for consolidated entity CoB: Cost of Borrowing * 8.5% Normalized cost of borrowing after adjusting for prepayment charge24
Business UpdatePortfolio attuned for growth and superior risk-adjusted returnsPre-Owned CarDigital BL Digital PL Digital LTP Highest ever monthly disbursement in Mar22 Entered leaderboard Highest ever monthly disbursement in Mar22 Entered leaderboard for LTP Q4FY22 disbursement up 45.0% QoQ Disbursement via partnership contributed 17.4% in Q4FY22 vs7.3% in Q3FY22SME LAP Q4FY22 disbursement up 32.4% QoQ Entered digital consumption loans space via partnershipAffordable HL LAP Highest ever monthly disbursement of HL in Mar22 Achieved 100 cr disbursement in Mar22 Significant strengthening of distribution channel Focus on end-to-end digital platform Q4FY22 disbursement up 49.0% QoQ Focus on direct sourcing through branch led model Presence increased to 128 branches in Mar22 (113 in Dec21)Consolidated AUM mix of North : West : South : East was 31%: 27%: 28%: 15% as on 31st Mar lioAsset qualityfocus25BL :Business Loan PL: Personal Loan LTP : Loan to professional HL: Housing Loan
Performance Parameters – Q4FY22Robust Growth Significant Reduction in CoB, GS3 and NS3AUMDisbursementAUM ,733Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22Cost of 1Hard ,605Mar-22NS35.4%8.0%*7.4%Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22* Normalized for one time prepayment charge made in ble 211.1%Jun-21Sep-21Dec-21Mar-2226
Asset QualityReduction in Stage 2 & Stage 3 assets Collection efficiency Restructured BookPFLPHFLConsolidatedStage 1 87.8%Stage 2 age 1 PCRStage 2 3%12.8%4.0%28.4%1.4%15.7%1.4%15.1%Stage 1 & 2 PCRGross Stage 3 ( .3%4922.7%413Net Stage 3 ( cr)Gross Stage 3.5%1702.7%Net Stage 3Stage 3 6%37.4%1.2%68.6%1.8%50.1%1.1%58.9%ECL Provision on Total Loan Book11.2%5.8%5.1%3.6%2.4%1.7%9.5%4.9%4.2%% of on book AUM Collection efficiency for Mar22 stood at 108.4% vis-à-vis 99.1% in Dec21 The restructured book as on Mar’22 was 786 cr (4.7% of AUM) vis-à-vis 864 cr (5.7% of AUM) as on Dec’21 Restructured book in 0 bucket was 376 cr (48% of total restructured assets). However, for the purpose of asset classification and provisioning 595 cr (76% of total restructured assets) have been classified under stage 2 Provision on restructured portfolio (excluding management overlay provisions for COVID wave 2) stands at 154 cr (19.6%) as on 31st Mar2227
ALM statement and Liquidity – PFL StandaloneAmple liquidity Well positioned for rise in ratesStructural Liquidity Statement as on 31st Mar 22Cumulative inflows ( in Cr)Cumulative outflows( in Cr)15,64814,47517,087 1190-1m1-3m3-6m6m-1y1-3y3-5y 5yCumulative Positive Gap4,5674,9615,7313,2954,9184,4830Cumulative (%)3093%698%512%57%51%40%0%Based on PFL standalone numbers Liquidity as on 31st Mar 22 for PFL standalone is 2,791 cr in the form of cash, cash equivalents and undrawn bank lines Significant reduction achieved in average cost of borrowing Well positioned to manage expected rise in interest rates Widened relationships with Private sector & Foreign banks and strengthened relationships with PSU banks28
Profit & Loss Statement – ConsolidatedAmounts in crParticularsAs % of average 1FY22NIM (including fee 21451962145427424.0%5.1%5.5%3.6%5.0%Pre Provision Operating %0.0%0.0%Profit Before fit After edit costShare of profit in JV1Normalized NIM for Q3FY22 is 9.0% and FY22 is 9.0% after excluding one-time prepayment charges incurred for prepayment of high-cost debt2 Opex/ Avg AUM after adjusting for ESOP charge is 3.9% for Q4FY21, 5.0% for Q3FY22, 5.2% for Q4FY22, 3.5% for FY21 & 4.9% for FY223 Creditguarantee scheme premium has been included in the credit costJV Consolidation has been done upto 13 December, 2021, the date of shareholder approval for sale of investment in shares of JV29
Profit & Loss Statement – StandaloneAmounts in crParticularsAs % of average 1FY22NIM (including fee x11151541694405954.1%5.6%6.1%3.7%5.5%Pre Provision Operating Profit1401161195624635.1%4.2%4.3%4.7%4.3%Credit cost29761031,3357835.2%0.3%0.1%11.2%0.7%Profit Before fit After Tax(626)8089(578)293(22.6%)2.9%3.2%(4.9%)2.7%1 Normalized2 CreditOpex / Avg AUM after adjusting for ESOP charge is 4.1% for Q4FY21, 5.4% for Q3FY22, 5.6% for Q4FY22, 3.7% for FY21 & 5.3% for FY22guarantee scheme premium has been included in the credit cost30
Agenda4Business and Financial Highlights: Subsidiary / MHDI31-4331
Poonawalla Housing Finance Limited(Formerly known as Magma Housing Finance Limited)(Subsidiary)
Poonawalla Housing Finance – At a glance Poonawalla Housing Finance Limited (PHFL), subsidiary of PFL, is anational scale affordable segment HFC with 128 branches across20 states across India AUM crossed 5,000 crores milestone during Q4FY22 Direct relationship model with the customers‘Go Direct’ strategy: 77% of loans through direct sourcing Driving financial inclusion by serving new to credit customershaving limited access to formal credit Committed to ‘Housing for All’ objective of governmentEnabled 11,500 customers ( 40% of HL) to avail PMAY subsidyand 4,500 customers ( 15% of HL) to avail AHF refinance benefitAUMDisbursement 5,060 cr 1,970 cr 27% YoY 57% YoYRoANet stage 31.8%0.6% 149 bps YoY-17 bps YoYDebt / Equity3.0x5.1x (FY21)Networth 1,082 cr 118% YoY33
Historical Performance - PHFLPoised for sustainable growth – Directly sourced, Granular, Home loan focus bookDisbursementAUMLive Customers (in 280%333,9781,315 1,251Direct Ratio (Units)121,808FY18 FY19 FY20 FY21 FY22FY18 FY19 FY20 FY21 FY22FY18 FY19 FY20 FY21 FY22FY18 FY19 FY20 FY21 FY22PATGS3ATSHL Ratio (Units)3165%775.4%433420341.8%FY19Amounts in crFY20FY2171%37%131.6%66%11 11 11 11 110.96%11FY181.6%67%FY22FY18 FY19 FY20 FY21 FY22FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22FY18 FY19 FY20 FY21 FY2234
Executive Summary - PHFLKey Highlights FY22Lowest ever Gross Stage 3 Assets of 0.96%;63 bps YoY Highest ever AUM of 5,060 cr as on Mar22; 27% YoYHighest ever disbursement of 1,970 cr in FY22; 57% YoYGeo expansion to 128 branches in 20 states as on Mar22Significant reduction in average CoB; 7.1% for Q4FY22;113 bps QoQRaised 725 cr from NHB with fungible limit betweenAHF and regular refinanceHighest ever PBT of 101 cr in FY22; 605% YoYCredit rating of ‘AA / Stable’ by CRISIL and CAREState of the art, cloud-hosted LOS, LMS & CRMImplemented digital onboarding journey for customersAUM mix of North : West : South : East was33%: 34%: 26%: 7% as on Mar2235
Q4FY22 Performance Highlights - PHFLOn path to achieve 2025 visionAUMCoBNIMRoA5,0607.1%6.9%2.5%YoYQoQ 27.2% 10.6%YoYQoQ-232 bps -113 bpsYoY*-153 bpsQoQ 126 bpsQoQ 56 bpsYoY-DisbursementGS3NS3PAT7970.96%0.6%29YoY 64.7%QoQ 49.0%Amounts in cr; CoB: Cost of BorrowingYoY-63 bpsQoQ-98 bpsYoY-17 bps*Decrease due to model shift to no income upfronting through direct assignmentQoQ-64 bpsQoQQ4FY21 PAT 38.7%-2036
FY22 Performance Highlights - PHFLOn path to achieve 2025 visionAUMCoBNIMRoA5,0608.7%#6.1%*1.8%YoY-92 bpsYoY-72 bpsYoY 149 bpsDisbursementGS3NS3PAT1,9700.96%0.6%77YoY 57.5%YoY-63 bpsYoY-17 bpsYoY610.7%YoY 27.2%Amounts in cr; CoB: Cost of borrowing #: Normalized CoB is 8.4% after adjusting for prepayment charge *Model Shift to no income upfronting through direct assignment ;37
Performance Parameters - PHFLAUM crossed 5,000 cr milestone Significant reduction in CoB, GS3 and NS3DisbursementAUM 248Mar-21 Jun-21 Sep-21 Dec-21 Mar-22Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22CoB9.4%GS3NS31.9%9.2%Q4FY21 Q1FY22 Q2FY22 Q3FY22 6%7.1%Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22* Normalized Cost of borrowing excluding one time prepayment chargesMar-21 Jun-21 Sep-21 Dec-21 Mar-22Mar-21Jun-21Sep-21Dec-21Mar-2238
ALM statement and Liquidity – PHFLWell Matched ALM Profile Adequate LiquidityStructural Liquidity Statement as on 31-Mar-22Cum Inflow7,148Cum. Outflow4,9503,6062,649207 141530 392847 5910-1 Month1-3 Month3-6 Month5,3483,4991,4631,0146 Month-1Year1 Year-3 Year3 Year-5 Year 5 YearsCumulative Gap671382564499571,4511,800Cumulative (%)48%35%43%44%36%41%34% Liquidity as on 31st Mar 22 was 1,098 Cr in form of cash and cash equivalents and undrawn bank lines Significant reduction achieved in existing borrowings rates. There has been significant reduction in Exit Cost of Borrowings from 9.09% on31st Mar 21, to 6.77% on 31st Mar 22 Reduced reliance on short-term debt; carrying well matched ALM in line with asset maturity profileThe above statement has been prepared in compliance with NHB requirements39
Profit & Loss Statement – PHFLAmounts in crParticularsAs % of average 1FY22NIM (including fee 021473.1%3.8%3.8%2.8%3.4%Pre Provision Operating Profit5120371451165.3%1.8%3.1%4.0%2.7%Credit cost78(8)1130148.1%(0.7%)0.1%3.6%0.3%Profit Before Tax(27)283614101(2.8%)2.5%3.1%0.4%2.3%Profit After Tax(20)21291177(2.1%)1.9%2.5%0.3%1.8%11Normalized NIM for Q3FY22 is 6.4% and FY22 is 6.3% after excluding one-time prepayment charges incurred for prepayment of high-cost debt40
Magma HDI General Insurance Limited
Executive Summary - MHDIExtensive network of IRDAI approved intermediaries 10,000 across the countryOne of the highest GDPI growth of 37% for FY2021-22 vis-a-vis 12% & 11% growth for private sector and Industry respectivelyMoved up by 2 positions in Industry ranking vis-à-vis private sector general insurance playersOne of the lowest Capital burn ratio as at Q3FY22* amongst the 2nd wave private sector playersOne of the highest Investment Leverage ratio of 8.0 as at Q3FY22* amongst the 2nd Wave private sector playersNote : Q3FY22* Peer comparisons are done based on Public disclosures available42
Profit & Loss Statement (Ind AS) - MHDIAmounts in crParticularsQ4FY21Q3FY22Q4FY22FY21FY22Gross Written Premium4384886041,3491,815Net Written Premium2373213517981122Net Earned Premium192232256762914Net Claims Incurred150151167607628Net Commission-17-4-5-55-22Management nvestment & Other Income5261156219323Profit Before Tax-6-26-1619-16Profit After Tax-5-20-1215-12Impairment lossUnderwriting ProfitJV Consolidation has been done upto 13 December, 2021; the date of shareholde
data-analytics Robust risk management system Lead in chosen products and geographies Lead in process automation and data analytics usage Amongst the lowest cost of borrowing Consolidate. Grow. Lead. FY2022 FY2023 FY2025 13 Convergence of Calibration, Growth, Scale, Quality and Profitability with technology as backbone
