X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Repco Home Fin.: Ends on strong earnings and stable asset quality - Views on News from Equitymaster
The India Letter
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  
  • Home
  • Outlook Arena
  • Jun 7, 2016 - Repco Home Fin.: Ends on strong earnings and stable asset quality

Repco Home Fin.: Ends on strong earnings and stable asset quality
Jun 7, 2016

Repco Home Finance (RHFL) announced its results for the fourth quarter (4QFY16) of the financial year 2015-16. The institution grew its income from operations by healthy 25.5% YoY and the profits by robust 21% YoY during 4QFY16. Here is the detailed analysis of the results.

Performance Summary
  • Interest income grew by 25% YoY in 4QFY16 on the back of 20% increase in disbursements. For FY16, interest income grew by 27.3%.
  • Net interest margin remained static at 4.6% for 4QFY16 but contracted slightly to 4.4% for the financial year FY16.
  • Operating expenses in 4QFY16 fell by 7% on lower employee benefit expenses. Even for FY16, the cost-income ratio reduced to 19% compared to 21% in the preceding year.
  • Gross NPAs ratio after witnessing a cyclical uptrend in December 2015 quarter has fallen again in the March 2016 quarter. Gross NPAs and net NPAs reverted back to mean values of 1.3% and 0.5%, respectively at the end of March 2016 quarter.
  • The capital adequacy ratio of the NBFC stood at 20.7% at the end of 31st March 2016.
  • Net profit increased by 21% YoY and 21.9% YoY in 4QFY15 and FY16, respectively.
Financial Performance Snapshot
Rs (m) 4QFY15 4QFY16 Change FY15 FY16 Change
Income from operations 1,913 2,400 25.5% 6919 8807 27.3%
Interest Expense 1,167 1,460 25.1% 4315 5483 27.1%
Net Interest Income 746 940 26.0% 2,604 3,324 27.6%
Net interest margin (%) 4.6% 4.6% 4.5% 4.4%
Other Income 1 3 107.7% 8 12 42.7%
Other Expense 165 153 -7.1% 547 643 17.5%
Provisions and contingencies 62 140 124.8% 203 392 92.7%
Profit before tax 520 650 24.9% 1,862 2,301 23.6%
Tax 172 228 32.5% 630.90 800.00 26.8%
Profit after tax/ (loss) 348 422 21.1% 1,231 1,501 21.9%
Net profit margin (%) 18.2% 17.6% 17.8% 17.0%
No. of shares (m) 62.5
Book value per share (Rs) 152.7
P/BV (x)* 4.4

* Calculated Book value as on 31st March 2016

To Read the Full Story, Subscribe or Sign In



DISCLOSURES UNDER SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014
INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537.

BUSINESS ACTIVITY:
An independent research initiative, Equitymaster is committed to providing honest and unbiased views, opinions and recommendations on various investment opportunities across asset classes.

DISCIPLINARY HISTORY:
There are no outstanding litigations against the Company, it subsidiaries and its Directors.

GENERAL TERMS AND CONDITIONS FOR RESEARCH REPORT:
For the terms and conditions for research reports click here.

DETAILS OF ASSOCIATES:
Details of Associates are available here.

DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
  1. 'subject company' is a company on which a buy/sell/hold view or target price is given/changed in this Research Report
  2. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any financial interest in the subject company.
  3. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have actual/beneficial ownership of one percent or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report.
  4. Neither Equitymaster, it's Associates, Research Analyst or his/her relative have any other material conflict of interest at the time of publication of the research report.
DISCLOSURE WITH REGARDS TO RECEIPT OF COMPENSATION:
  1. Neither Equitymaster nor it's Associates have received any compensation from the subject company in the past twelve months.
  2. Neither Equitymaster nor it's Associates have managed or co-managed public offering of securities for the subject company in the past twelve months.
  3. Neither Equitymaster nor it's Associates have received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  4. Neither Equitymaster nor it's Associates have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  5. Neither Equitymaster nor it's Associates have received any compensation or other benefits from the subject company or third party in connection with the research report.
GENERAL DISCLOSURES:
  1. The Research Analyst has not served as an officer, director or employee of the subject company.
  2. Equitymaster or the Research Analyst has not been engaged in market making activity for the subject company.
Definitions of Terms Used:
  1. Buy recommendation: This means that the investor could consider buying the concerned stock at current market price keeping in mind the tenure and objective of the recommendation service.
  2. Hold recommendation: This means that the investor could consider holding on to the shares of the company until further update and not buy more of the stock at current market price.
  3. Buy at lower price: This means that the investor should wait for some correction in the market price so that the stock can be bought at more attractive valuations keeping in mind the tenure and the objective of the service.
  4. Sell recommendation: This means that the investor could consider selling the stock at current market price keeping in mind the objective of the recommendation service.
Feedback:
If you have any feedback or query or wish to report a matter, please do not hesitate to write to us.

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

REPCO HOME SHARE PRICE


Aug 21, 2017 12:30 PM

TRACK REPCO HOME

  • Track your investment in REPCO HOME with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

REPCO HOME 5-YR ANALYSIS

Detailed Financial Information With Charts

COMPARE REPCO HOME WITH

MARKET STATS