AAVAS Financiers Ltd Q4FY21 consolidated net profit up at Rs. 87.44 crore

AAVAS Financiers Ltd has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.291.32 crores during the period ended March 31, 2021 as compared to Rs.310.07 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.87.44 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.85.46 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.11.06 for the period ended March 31, 2021 as compared to Rs.10.81 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 291.32 crs	₹ 310.07 crs	-6.05%
Net Profit	₹ 87.44 crs	₹ 85.46 crs	2.32%
EPS	₹ 11.06	₹ 10.81	2.31%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.291.32 crores during the period ended March 31, 2021 as compared to Rs.235.07 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.87.44 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.59.72 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.11.06 for the period ended March 31, 2021 as compared to Rs.7.55 for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 291.32 crs	₹ 235.07 crs	23.93%
Net Profit	₹ 87.44 crs	₹ 59.72 crs	46.42%
EPS	₹ 11.06	₹ 7.55	46.49%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1105.52 crores during the 12 months period ended March 31, 2021 as compared to Rs.903.34 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.288.91 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.249.04 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.36.54 for the 12 months period ended March 31, 2021 as compared to Rs.31.48 for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 1105.52 crs	₹ 903.34 crs	22.38%
Net Profit	₹ 288.91 crs	₹ 249.04 crs	16.01%
EPS	₹ 36.54	₹31.48	16.07%

Performance Highlights:

- AUM as on 31st March 2021 is Rs. 94,543 Mn of which

* Home Loans contributed 73.5%
* Other Mortgage Loans contributed 26.5%

- The total number of branches stands at 280 as on 31st March 2021

- Gross Stage 3 is 0.98% and Net Stage 3 is 0.71%

- 81.0% of our borrowings are from Term Loans, Assignment and NHB Refinancing. Only 19.0% of our borrowings are from debt capital market (of which 71.1% is from development finance institutions like IFC, CDC & ADB), with no borrowings by way of Commercial Papers.

- The Company has a Networth of Rs. 24,014 Mn as on 31st March 2021

Commenting on the performance Mr. Sushil Kumar Agarwal, CEO said: "Dear All. Hope everybody is keeping safe & healthy. As you all are aware, our country is going through very difficult time. Just as everybody was thinking that the worst is behind us, COVID has re-emerged & spread at a very fast pace since the start of April-21 putting tremendous pressure on the health infrastructure. This has also resulted in re-imposition of localized lockdowns by various state governments to contain the spread of the infection.

With regards to the company's performance, we regained considerable momentum in Q4 FY21 and disbursed Rs. 10,127 Mn during the quarter registering 17% YoY growth & 32% QoQ growth. At the same time, we continued to borrow judiciously & raised Rs. 7,290 Mn at 6.31% during the quarter. As on 31st March 2021, we have strong liquidity of Rs. 28,360 Mn in the form of cash & cash equivalents and un-availed documented sanctions.

Even during the turbulent year, we continued to grow consistently & delivered AUM growth of 21% YoY while the Gross Stage 3 assets stood at 0.98% as on 31st March 2021. As mentioned in the last quarter as well, we have not restructured any of our borrower accounts. Further, the overall additional provision for potential impact of COVID-19 stands at Rs. 190.3 Mn as of 31st March 2021.

We have built up a strong network of 280 branches to deliver best-in-class and uninterrupted service to our customers. We reaffirm our commitment to deliver sustainable long-term business and earnings growth."

Shares of AAVAS Financiers Ltd was last trading in BSE at Rs.2271.2 as compared to the previous close of Rs. 2267.1. The total number of shares traded during the day was 5920 in over 972 trades.

The stock hit an intraday high of Rs. 2315.9 and intraday low of 2259.55. The net turnover during the day was Rs. 13544498.

Source : Equity Bulls

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