Post on 20-Aug-2021
FINANCIAL RESULTS Q4 FY 2014
KEY FINANCIALS
(Rs. In Millions)
2
NETWORTH
Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth%
Growth%
Rs.
Rs.
Rs.
Rs. Rs. YoY QoQ
Share Capital 3717 3717 3717 3717 3717 0% 0%
Reserves & Surplus 38929 37496 36383 35577 33639 16% 4%
42646 41213 40100 39294 37356 14% 3%
80%
18%2%
Shareholding Pattern as on 31.03.2014
Promoters & Relatives(80%)
FII,FC,MF & Others(18%)
Public (2%)
3
(Rs. In Millions)
4
ASSETS
Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth
YoY Growth
QoQ
Rs. Rs. Rs. Rs. Rs. % %
Gross Retail Loan Assets Under Management 218615 225886 244009 258477 263868 -17% -3%
Break up of Gross Retail Loan Assets Under Management:
Gold Loans under management 216179 222628 240510 254424 260004 -17% -3%
Other Loans 2436 3258 3499 4053 3864 -37% -25%
(Rs. In Millions)
5
LIABILITIES
Mar-14 Dec-13 Sep-13 Jun-13 Mar-13 Growth%
Rs. Rs. Rs. Rs. Rs. YoY
Secured Non-Convertible Debentures (Muthoot Gold Bonds) 81580 86503 91850 97840 94596 -14%
Secured Non-Convertible Debentures - Listed 24735 22247 19480 17873 17873 38%
Borrowings from Banks/FIs 58033 65947 87038 96110 101364 -43%
Subordinated Debt 25367 25237 24929 24516 23001 10%
Subordinated Debt -Listed 980 542 309 100 100 880%
Commercial Paper 90 0 0 0 2164 -96%
Other Loans 4054 3627 3136 1912 1791 126%
Total 194839 204103 226742 238351 240889 -19%
(Rs. In Millions)
6
REVENUE & PROFIT
FY 2014 FY 2013 YoY Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014
Rs. Rs. % Growth Rs. Rs. Rs. Rs. INCOME Interest Income 49077 53641 -9% 11461 11902 12933 12782 Other Income 397 230 73% 130 105 85 76
Total 49474 53871 -8% 11591 12007 13018 12858 EXPENDITURE Interest Expense 26260 28194 -7% 5666 6277 7021 7296 Personnel Expenses 5917 5453 9% 1577 1490 1441 1408 Administrative & Other expenses 4259 3570 19% 1208 996 1074 981
Provisions & Write Offs 438 895 -51% 182 91 81 85
Directors Remuneration 192 192 0% 48 48 48 48 Depreciation 472 452 4% 126 123 116 106
Total 37538 38756 -3% 8807 9025 9781 9924 PROFIT Profit Before Tax 11936 15114 -21% 2784 2982 3236 2934
Profit After Tax 7801 10042 -22% 1810 1942 2110 1939
Geographical Spread of Branches
7
No: of
branches 551 707 985 1605 2733 3678 4082 4163 4229 4260 4270
30%
50%
70%
90%
110%
Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
East 1% 1% 2% 3% 4% 5% 5% 5% 5% 5% 5%
West 5% 6% 7% 10% 12% 13% 13% 14% 14% 14% 14%
North 8% 8% 10% 17% 18% 18% 17% 16% 16% 16% 16%
South 86% 85% 81% 70% 66% 64% 65% 65% 65% 65% 65%
6431 7569 1420121790 33001 73417
157281
244173
260004
254424
240510
222628
216179
0
50000
100000
150000
200000
250000
300000
Mar-05 Mar-06 Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
Gold Loan Portfolio
Gold Loan Assets Under Management
8
(Rs. In Millions)
9
15 16 2330
3966
112
137 134 137132
123 118
0
20
40
60
80
100
120
140
160
Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
Gold Jewellery kept as Security (tonnes)
Gold Holding (In tonnes)
60%65%70%75%80%85%90%95%
100%105%
Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
East 0% 1% 1% 2% 3% 4% 5% 5% 5% 5% 6%
West 3% 4% 5% 8% 8% 10% 11% 12% 12% 13% 14%
North 13% 13% 14% 15% 15% 17% 19% 19% 20% 21% 22%
South 84% 82% 80% 75% 74% 69% 65% 64% 63% 61% 59%
Geographical Spread of Gold Loan Portfolio
10
(Rs. In Millions)
Gold Loans
Assets Under
Management
14201 21790 33001 73417 157281 244173 260004 254424 240510 222628 216179
17.24
17.4
25.7730.82
33.5
45.74
57.5566.39
63.69
61.1256.87
52.26
50.63
15
25
35
45
55
65
75
Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
(Rs. In Millions)
Average Gold Loan Outstanding Per Branch
11
3.94%
3.46%3.49%
4.21%
4.24%
4.40%
4.05%
3.22%3.003.203.403.603.804.004.204.404.60
Return on Average Retail Loan Asset
12
3.26 %3.31% 3.36%
2.97%
2.20%
2.60%
3.00%
3.40%
3.80%
Q4 FY2014
Q3 FY2014
Q2 FY2014
Q1 FY2014
(Rs. In Millions)
13
Non-Performing Assets & Bad Debts written off
Mar 14 Mar 13 Dec 13 Sep 13 Jun 13
Rs. Rs. Rs. RS. Rs.
Gross Non-Performing Assets 4160 5250 4492 4675 5378 Provision For Non-Performing Assets 725 700 725 725 725
Net Non-Performing Assets 3435 4550 3767 3950 4653
% of Gross NPA on Gross Retail Loans 1.90% 1.99% 1.99% 1.92% 2.08%
% of Net NPA on Gross Retail Loans 1.57% 1.72% 1.67% 1.62% 1.80%
FY 2014 FY 2013 Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014
Rs. Rs. Rs. Rs. Rs. Rs.
Bad Debts Written Off 224 130 102 43 19 60
(Rs. In Millions)
42%
13%
32%
13%1%2%
LIABILITY MIXSecured Non-Convertible Debentures
(Muthoot Gold Bonds)- 81580 (42%)
Secured Non-Convertible Debentures -
Listed - 24735 (13%)
Borrowings from Banks/FIs -58033 (30%)
Subordinated Debt - 25367 (13%)
Subordinated Debt - Listed -980 (1%)
Commercial Paper - 90 (0%)
Other Loans-4054(2%)
14
(Rs. In Millions)
SHORT TERM RATING
AMT OF RATING RATING INDICATES
COMMERCIAL PAPER
CRISIL Rs.4000crs CRISIL A1+
Degree of safety with regard to timely payment of interest & principal on the instrument is very strong
ICRA Rs.200crs ICRA A1+ Lowest credit risk & Stronger credit quality
BANK LOANS
ICRA Rs.5712crs ICRA A1+ Lowest credit risk & Stronger credit quality
LONG TERM RATING
SUBORDINATED DEBT
CRISIL Rs.100crs
CRISIL AA-(Stable)
High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.
ICRA Rs.100crs
ICRA AA-(Stable)
High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.
NON CONVERTIBLE DEBENTURE
CRISIL Rs.500crs
CRISIL AA-(Stable)
High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.
ICRA Rs.200crs
ICRA AA-(Stable)
High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.
BANK LOANS
ICRA Rs.6736crs
ICRA AA-(Stable)
High Degree of safety with regard to timely servicing of financial obligations and carry very low credit risk.
DEBT RATING
15
22
36
35
79
60
62
10
77
5
22
98
3
45
28
0
53
64
1
49
07
7104
107 142
119
175
210
230397
05000
1000015000200002500030000350004000045000500005500060000
Interest Income Other Income
Break-Up of Gross Income
11
46
1
11
90
2
12
93
2
12
78
2
130 105 85 76
0
4000
8000
12000
16000
20000
24000
28000
32000
36000
40000
Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014
16
5.38
4.59
5.45
4.72
4.28
4.02
4.08
4.46
3.5
4
4.5
5
5.5
6
Mar 07 Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14
Operating Expenses to Average Retail Loans
17
5.43%
4.46 % 4.21% 3.86%
1%
2%
3%
3%
4%
5%
6%
Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014
Break-Up of Operating Expenses (Rs. in Millions)
18
OPERATING EXPENSES Mar-14 Mar-13 Mar-12 Mar-11 Mar-10 Mar-09 Mar-08 Mar-07 Q4 FY 2014
Q3 FY 2014
Q2 FY 2014
Q1 FY 2014
Personnel Expenses 5917 5453 4145 2209 1169 677 405 266 1577 1490 1442 1408
Rent 1542 1309 1042 603 290 131 82 47 410 393 383 356
Advertisement 702 579 866 647 331 208 67 36 220 117 195 170 Postage, Telegram and Telephone 364 243 184 115 72 27 18 28 102 99 92 71
Traveling and Conveyance 190 175 168 114 67 42 27 18 52 42 50 46
Printing and Stationary 185 168 155 111 69 44 32 19 63 39 37 46
Repairs and Maintenance 272 256 341 211 96 62 42 34 64 52 79 77
Legal and Professional Charges 216 86 60 114 34 16 11 10 101 42 36 37
Business Promotion Expense 279 332 267 119 45 25 18 15 85 72 61 61
Directors Remuneration 192 192 192 192 192 121 49 49 48 48 48 48 Depreciation and Ammortisation Expenses 475 454 329 180 149 99 74 71 129 123 117 106
Others 731 550 380 229 165 165 88 76 211 184 160 176 Provision For Standard & NPA Assets 214 765 351 323 21 7 7 1 80 47 62 25
Total 11279 10562 8480 5165 2701 1625 919 671 3142 2748 2762 2627
670 9701482
3456
7612
13312
15114
11936
440 636977
2276
4942
892010042
7801
0
2000
4000
6000
8000
10000
12000
14000
16000
Mar 07Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14
Profit Growth
P B T
P A T 19
27
84
29
82
32
36
29
34
18
10
19
42
21
10
19
39
0
500
1000
1500
2000
2500
3000
3500
Q4 FY2014
Q3 FY2014
Q2 FY2014
Q1 FY2014
1598 2234 3712
5845
13344
29257
3735639294
40100
41213
42646
1000
6000
11000
16000
21000
26000
31000
36000
41000
46000
Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
Networth (Rs. In Millions)
20
35.10
34.0033.90
48.10
51.52
41.90
30.15
19.50
10.00
15.00
20.00
25.00
30.00
35.00
40.00
45.00
50.00
55.00
Mar 07Mar-08Mar-09Mar-10Mar-11Mar-12Mar-13Mar-14
Return on Average Equity (In Percentage)
21
17.26 % 19.11 %21.26% 20.24%
0%
5%
10%
15%
20%
25%
Q4 FY 2014 Q3 FY 2014 Q2 FY 2014 Q1 FY 2014
22
CAPITALISATION RATIOS
Mar 31,2014
Dec 31,2013 Sep 30,2013 Jun 30,2013
Mar 31, 2013
Capital Adequacy Ratio 24.69% 23.76% 21.80% 20.77% 19.62%
Tier I 18.01% 17.00% 15.30% 14.27% 13.41%
Tier II 6.68% 6.76% 6.50% 6.50% 6.21%
Book Value Per Share(Rs.) 114.73 110.70 107.72 105.57 100.5
Earnings per Share (Rs.) 20.99 16.12 10.89 5.22 27.02
23
CAPITALISATION RATIOS Mar 31,2014 Dec 31,2013 Sep 30,2013 June 30,2013 Mar 31,2013
Gross Outside Liabilities (including assigned loans) 213293 222261 244293 256068 256806
Outside Liabilities (excluding assigned loans) 213293 222261 244293 256068 256806
Cash & Bank Balances 20489 19286 20363 17702 13420
Unencumbered Cash & Bank Balances 20483 19281 20358 17698 13416
Tangible Networth 42579 41148 40041 39243 37310
Capital Gearing(Gross) 4.53 4.93 5.59 6.07 6.52
Capital Gearing(Net) 4.53 4.93 5.59 6.07 6.52
(Rs. In Millions)
3102 3999 5979
9745
16688
25351
24881
24945
25684
25469
25012
3000
8000
13000
18000
23000
28000
Mar 07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14
Human Resources
No
: Of
Em
plo
yee
s
24
25