Q - 4 Performance Highlights:
Apr 28th, 2014: Disbursements in vehicle finance were marginally lower while disbursements in Home equity loans grew by 23% compared to the same period last year.
The Company disbursed Rs.2795 Cr. in Vehicle Finance as against Rs.3140 Cr. in Q 4 of 2012-13 and disbursed Rs.785 Cr. in Home Equity loans as against Rs. 638 Cr. in Q 4 of 2012-13. Disbursement from new businesses was Rs. 92 Cr. The aggregate disbursements of the Company for the quarter are Rs.3673 Cr. as against Rs. 3808 Cr. in Q 4 of 2012-13.
Total Income is Rs.847.95 Cr. compared to Rs.725.95 Cr. in Q 4 of 2012-13 registering a growth of 17%.
Profit before tax is Rs.137.58 Cr. as against Rs.122.47 Cr. in Q 4 of 2012-13 registering a growth of 12%.
Profit after tax is Rs.90.73 Cr. as against Rs. 85.76 Cr. in Q 4 of 2012-13 registering a growth of 6%.
FY - 14 - Performance Highlights:
The Company disbursed Rs.10128 Cr. in Vehicle Finance as against Rs. 9882 Cr. in FY-13, disbursed Rs.2810 Cr. in Home Equity loans as against Rs. 2161 Cr. in FY-13 and in the new businesses disbursed Rs. 176 Cr. The aggregate disbursements of the Company for the FY - 13 are Rs.13114 Cr. as against Rs. 12118 Cr. in FY - 13 registering a growth of 8%.
Total Income is Rs.3262.84 Cr. compared to Rs. 2555.68 Cr. in FY 13 registering a growth of 28%.
Profit before tax is Rs.550.21 Cr. as against Rs. 450.80 Cr. in FY - 13 registering a growth of 22%.
Profit after tax is Rs.364.01 Cr. as against Rs. 306.55 Cr. in FY - 13 registering a growth of 19%.
The Company has expanded its presence to 574 branches as on 31st March 2014 compared to 518 as on 31st March 2013. The additional branches are in Tier III and Tier IV locations across India.
The Company raised Tier II capital of Rs.328 Cr. during the FY14 by way of subordinated debt and perpetual debt instruments to strengthen its capital adequacy ratio.
The capital adequacy ratio (CAR) of the company remained at 17.23% as compared to the regulatory requirement of 15%.
Portfolio Quality:
The sustained slowdown in the economy and reduction in freight earnings of the borrowers resulted in continued pressure on the asset quality. With a vigorous focus on portfolio quality, the Company contained GNPA at 1.9% and NNPA at 0.7%. We continue to follow an aggressive provisioning policy resulting in an incremental provision of Rs. 122 crores above RBI norms thus ensuring provision coverage of 60%. We continue to follow a stringent credit selection approach which is reflected in the disbursement growth being relatively lower as compared to the previous year especially in the vehicle finance business.
Subsidiaries Performance:
The subsidiaries had made a profit of Rs.4.27 Cr. during the year as against Rs.1.03 Cr. in FY - 13.
Consolidated Results:
The consolidated profit after tax for the year was Rs.368.28 Cr. as against a PAT of Rs. 307.91 Cr. in FY - 13 registering a growth of 20%.
Others:
The Board has recommended a final dividend of Rs.1/- per share (10 % on the face value of Rs.10/- per share) to its equity shareholders. Including the interim dividend, the total dividend if declared by the shareholders will be Rs. 3.50/- per share.
Apr 28th, 2014: Disbursements in vehicle finance were marginally lower while disbursements in Home equity loans grew by 23% compared to the same period last year.
The Company disbursed Rs.2795 Cr. in Vehicle Finance as against Rs.3140 Cr. in Q 4 of 2012-13 and disbursed Rs.785 Cr. in Home Equity loans as against Rs. 638 Cr. in Q 4 of 2012-13. Disbursement from new businesses was Rs. 92 Cr. The aggregate disbursements of the Company for the quarter are Rs.3673 Cr. as against Rs. 3808 Cr. in Q 4 of 2012-13.
Total Income is Rs.847.95 Cr. compared to Rs.725.95 Cr. in Q 4 of 2012-13 registering a growth of 17%.
Profit before tax is Rs.137.58 Cr. as against Rs.122.47 Cr. in Q 4 of 2012-13 registering a growth of 12%.
Profit after tax is Rs.90.73 Cr. as against Rs. 85.76 Cr. in Q 4 of 2012-13 registering a growth of 6%.
FY - 14 - Performance Highlights:
The Company disbursed Rs.10128 Cr. in Vehicle Finance as against Rs. 9882 Cr. in FY-13, disbursed Rs.2810 Cr. in Home Equity loans as against Rs. 2161 Cr. in FY-13 and in the new businesses disbursed Rs. 176 Cr. The aggregate disbursements of the Company for the FY - 13 are Rs.13114 Cr. as against Rs. 12118 Cr. in FY - 13 registering a growth of 8%.
Total Income is Rs.3262.84 Cr. compared to Rs. 2555.68 Cr. in FY 13 registering a growth of 28%.
Profit before tax is Rs.550.21 Cr. as against Rs. 450.80 Cr. in FY - 13 registering a growth of 22%.
Profit after tax is Rs.364.01 Cr. as against Rs. 306.55 Cr. in FY - 13 registering a growth of 19%.
The Company has expanded its presence to 574 branches as on 31st March 2014 compared to 518 as on 31st March 2013. The additional branches are in Tier III and Tier IV locations across India.
The Company raised Tier II capital of Rs.328 Cr. during the FY14 by way of subordinated debt and perpetual debt instruments to strengthen its capital adequacy ratio.
The capital adequacy ratio (CAR) of the company remained at 17.23% as compared to the regulatory requirement of 15%.
Portfolio Quality:
The sustained slowdown in the economy and reduction in freight earnings of the borrowers resulted in continued pressure on the asset quality. With a vigorous focus on portfolio quality, the Company contained GNPA at 1.9% and NNPA at 0.7%. We continue to follow an aggressive provisioning policy resulting in an incremental provision of Rs. 122 crores above RBI norms thus ensuring provision coverage of 60%. We continue to follow a stringent credit selection approach which is reflected in the disbursement growth being relatively lower as compared to the previous year especially in the vehicle finance business.
Subsidiaries Performance:
The subsidiaries had made a profit of Rs.4.27 Cr. during the year as against Rs.1.03 Cr. in FY - 13.
Consolidated Results:
The consolidated profit after tax for the year was Rs.368.28 Cr. as against a PAT of Rs. 307.91 Cr. in FY - 13 registering a growth of 20%.
Others:
The Board has recommended a final dividend of Rs.1/- per share (10 % on the face value of Rs.10/- per share) to its equity shareholders. Including the interim dividend, the total dividend if declared by the shareholders will be Rs. 3.50/- per share.
