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Home First Finance Company India Limited - Highlights for Q2FY22

Posted On: 2021-10-25 20:30:51 (Time Zone: IST)


Key Highlights for Q2 FY22:

Asset under Management (AUM):

  • INR 4,617 Crs, growth of 23.8% over Q2 FY21.
  • Sharp focus on housing loans that contribute 92% of AUM and EWS / LIG category that forms ~77% of the customer base.

Distribution:
  • As on Sept'21, the Company has 72 branches with presence in 12 States and 1 Union Territory.
  • Business commenced in 14 new branch locations. In addition, 10 new digital branches have been launched taking the total number of touchpoints to 161.

Disbursements:
  • Disbursements of INR 515 Crs in Q2 FY22, y-o-y growth of 111.9%.

Asset Quality:
  • Bounce rates have improved to 15.0% in Oct'21 and 16.5% in Q2FY22 from 18.3% in Q1 FY22.
  • 1+ DPD improved from 8.9% to 7.6% on q-o-q basis.
  • 30+ DPD improved from 5.8% to 5.2% on q-o-q basis.
  • Gross Stage 3 is at 1.7% and Net Stage 3 is at 1.2%
  • 0.3% of POS restructured in Q2 FY22. Total Restructuring 2.0 at 0.8% as at Sep'21.

Provisions:
  • ECL provision as on Sep'21 is INR 49.6 Crs; resulting in total provision to loans outstanding ratio at 1.3%; and the Stage 3 provision coverage ratio is at 77.4%.

Borrowings:
  • Total borrowings including debt securities are at INR 3,075 Crs as on Sep'21 up from INR 2,637 Crs as on Sep'20. The company continues to carry a liquidity of INR 1,400 Crs as on Sep'21.
  • Cost of borrowings reduced further from 7.2% in Q1 FY22 to 7.1% in Q2 FY22. It is lower by 120 bps compared to Q2 FY21 which stood at 8.3%.

Spread:
  • Spread on loans stood at 5.6% in Q2 FY22 compared to 5.5% in Q1 FY22 and 4.8% in Q2 FY21.

Capital Adequacy:
  • Total CRAR at 56.4%. Tier I capital stands at 55.2% as on Sep'21.
  • Networth as on Sep'21 is at INR 1463 Crs vis-à-vis INR. 988 Crs as on Sep'20.

Financial Performance:
  • Q2 FY22 Total Income at INR 146 Crs; y-o-y growth of 34% from INR 109 Crs in Q2 FY21, sequential increase of 3.1% over Q1 FY22 of INR 142 Crs.
  • Q2 FY22 PAT at INR 45 Crs, sequentially up by 27.8% from INR 35 Crs in Q1 FY22.

Shares of Home First Finance Company India Limited was last trading in BSE at Rs. 656.50 as compared to the previous close of Rs. 639.05. The total number of shares traded during the day was 49471 in over 2644 trades.

The stock hit an intraday high of Rs. 669.60 and intraday low of 601.55. The net turnover during the day was Rs. 32061867.00.


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