Sundaram Finance Limited has informed the Exchange regarding Investor Presentation
PERFORMANCE HIGHLIGHTS 2018-19
Sundaram Ring of Excellence
Growth Quality Profitability
Disbursements for the year 2018-19 up by 9.3% to ₹ 17170 Cr.
Net Profit for the year at ₹ 1126 Cr., including an amount of ₹ 522 Cr. towards exceptional income on account of sale of
shares in Royal Sundaram.
Assets Under Management up by 16.1% at ₹ 28984 Cr. Stage III Assets stood at 1.33% and net of ECL provisions at 0.83% compared to 1.27% and 0.66% in the previous year.
Capital Adequacy Ratio at 19.5%, Tier-I at 14.7%.
Dividend for the year 175%, including special dividend of 50%.
In this presentation, the figures for FY 2019 and FY 2018 are as per Ind AS, while FY 2017 is as per Previous GAAP.
Shareholding Pattern
31-Mar-18
43.6%
31-Mar-19
36.5%
40.4%
36.0%
1.8%
8.6%
10.0%
1.7%
11.6%
9.8%
Public
Promoters Mutual Funds & AIFs
FIIs / FPIs and NRIs
Banks, Financial Institutions & Insurance Companies
Financial Summary
Year
Paid-up Capital
Networth Disbursements
1153 1316 1530 1789 2087 2405 2978 3313 3746 4134 5044
55.55 55.55 55.55 55.55 * 111.10 111.10 111.10 111.10 111.10 111.10 111.10
4614 2008-09 5926 2009-10 7592 2010-11 9433 2011-12 9991 2012-13 9719 2013-14 10012 2014-15 11444 2015-16 13218 2016-17 15712 2017-18 2018-19 17170 * Increase in Capital by way of 1:1 bonus issue. ** Adjusted for demerger ₹ 460.57 Cr. # Includes special dividend of 50%. @ Excludes exceptional item Market Capitalisation is as on 31st March of the respective years.
Receivables Under Management 9204 10219 12354 15540 17645 18158 18734 20699 24036 28648 33447
₹ in Crore
PAT
Dividend %
Market Capitalisation
150.73 226.75 295.23 355.45 410.11 442.51 454.14 477.28 ** 495.35 563.44
65 100 140 155 90 100 105 110 115 120 @ 604.04 # 175
917 2096 2722 3645 5265 7359 16859 14450 17940 18634 17318
Profit & Loss Statement
Particulars
Revenue From Operations * Other Income
Total Revenue Finance cost Operating expenses Impairment on financial instruments Total Expenses Profit Before Taxation and exceptional item Exceptional Item ** Profit Before Taxation (After exceptional Item) Profit After Taxation and exceptional item Other Comprehensive Income (net of taxes) Total Comprehensive Income for the period year * Revenue from operations is net of depreciation on operating lease
Quarter Ended March 2018
Quarter Ended March 2019
2017-18
2018-19
₹ in Crore
778.04 19.44 797.48 390.54 167.08 32.55 590.17 207.31 - 207.31 137.93 (0.51) 137.42
872.16 7.16 879.32 474.83 138.33 42.61 655.77 223.55 592.44 815.99 674.75 1.74 676.49
2763.30 49.13 2812.43 1346.02 531.19 85.51 1962.72 849.71 -
3362.12 20.56 3382.68 1762.51 617.57 107.33 2487.41 895.27 592.44 849.71 1487.71 1126.31 563.44 2.77 (1.51) 1129.08 561.93
**Exceptional item represents, sale of 11,62,91,000 equity shares of ₹ 10/- each (representing 25.90% stake) in Royal Sundaram General Insurance Co. Limited (RSGI) for a consideration of ₹ 984.17 Crore to Ageas Insurance International N.V, The Netherlands. The profit is net of transaction expenses and provisions towards certain financial covenants, whereby the company has agreed to indemnify the buyer. Subsequent to the transaction, the company holds 50% in the equity share capital of RSGI, resulting in RSGI becoming a Joint Venture company with effect from 22nd Feb 2019.
Balance Sheet
Particulars
31-Mar-2018
31-Mar-2019
₹ in Crore
EQUITY AND LIABILITIES
Financial Liabilities Non Financial Liabilities Equity
21597.86 79.21 4133.63
25530.90 74.46 5043.81
Total - EQUITY AND LIABILITIES
25810.70
30649.17
ASSETS
Financial Assets Non Financial Assets
Total - ASSETS
25222.96 587.74
30079.48 569.69
25810.70
30649.17
Profit Reconciliation
Particulars
Profit as per previous GAAP
Adjustments increasing / (decreasing) net profit after tax as reported in the previous GAAP: Amortisation of net income under EIR method for financial assets Amortisation of expenses under EIR method for financial liabilities Application of Expected Credit Loss method for loan loss provisions Financial assets / liabilities measured at Fair Value through Profit & Loss Impact on recognition of securitised loan portfolio De-recognition of Financial asset Re-measurement of defined benefit plan Others Tax adjustments on above items Net Profit after tax as per Ind AS Other Comprehensive income (net of taxes) Total Comprehensive income as per Ind AS
₹ in Crore
Quarter ended March 2018
2017-18
129.57
532.95
2.98 2.16 (9.58) 6.64 0.42 5.98 0.77 0.13 (1.14)
137.93 (0.51) 137.42
22.52 3.73 2.76 14.68 1.56 (5.39) 2.32 0.75 (12.44)
563.44 (1.51) 561.93
Equity Reconciliation
Particulars
Equity as per previous GAAP
Impact due to Scheme (demerger and merger)
Adjusted Equity as per previous GAAP
On application of Effective Interest Rate method
Financial assets
Financial liabilities
Impact on account of Expected credit loss
Financial assets / Liabilities measured at Fair value through Profit & Loss
Impact on recognition of securitised loan portfolio
Derecognition of Financial asset
Others
Tax impact on above adjustments
Equity as per Ind AS
₹ in Crore
31-Mar-2018
01-Apr-2017
3970.85
3970.85
72.20
15.16
96.71
14.56
1.56
23.19
2.10
(62.70)
4133.63
3745.63
(228.73)
3516.90
49.68
11.42
93.95
(0.11)
28.59
1.35
(51.07)
3650.71
Disbursements and AUM
₹ in Crore
19000
17000
15000
13000
11000
9000
7000
Disbursements
15712
17170
13218
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
2016-17
Growth
15.5%
2017-18
18.9%
2018-19
9.3%
35000
30000
25000
20000
15000
10000
AUM
On Books
Securitised
24964
10.6%
89.4%
20735
24.8%
75.2%
28984 4.8%
95.2%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
31-Mar-17
31-Mar-18
31-Mar-19
Growth
15.9%
20.4%
16.1%
Disbursements
2017-18
4.9%
4.1%
e s i w
t e s s A
e s i w n o i g e R
5.2%
5.3%
11.2%
2018-19
9.9%
29.2%
₹ 15712 Cr.
51.9%
₹ 17170 Cr.
53.7%
24.6%
CVs
Cars
Construction Equipment
Tractors
Others
CVs
Cars
Construction Equipment
Tractors
Others
3.5%
12.5%
3.6%
11.6%
19.4%
₹ 15712 Cr.
64.6%
19.2%
₹ 17170 Cr.
65.6%
South
North
West
East
South
North West
East
AUM
31-Mar-2018
5.0%
5.8%
6.6%
5.3%
31-Mar-2019
e s i w
t e s s A
e s i w n o i g e R
8.4%
₹ 24964 Cr.
52.0%
28.8%
9.7%
₹ 28984 Cr.
52.5%
25.9%
CVs
Cars
Construction Equipment
Tractors
Others
CVs
Cars
Construction Equipment
Tractors
Others
3.4%
13.1%
18.6%
₹ 24964 Cr.
64.9%
3.5%
12.4%
18.8%
₹ 28984 Cr.
65.3%
South
North
West
East
South
North West
East
Funding Mix
39.2%
36.7%
34.1%
Total Borrowing
31-Mar-2017
31-Mar-2018
31-Mar-2019
₹ 19373 Cr.
₹ 24085 Cr.
₹ 26673 Cr.
28.2%
25.4%
24.2%
19.9%
20.4%
7.0%
18.3%
12.4%
10.9%
11.6%
8.3%
3.3%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
Debentures
Bank Borrowings *
Securitisation
Deposits
Commercial Paper
31-Mar-2017
31-Mar-2018
31-Mar-2019
* Includes a) Term loans b) Commercial Papers and demand loans availed from the limits.
Key Ratios
₹ in Crore
600
550
500
450
400
495
PAT
563
604
1.2
1
0.8
0.6
0.4
0.2
0
2016-17
2017-18
2018-19*
EPS (₹)
44.58
50.71
54.37
* Adjusted for exceptional item
5500
5000
4500
4000
3500
3000
2500
2000
1500
Net worth
ROE
14.0%
14.3%
13.2% *
3746
4134
5044
31-Mar-17
31-Mar-18
31-Mar-19
16.0% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% 7.0%
Book Value (₹)
337.13
372.05
453.97
* Adjusted for exceptional item
Key Ratios
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Debt Equity
CAR
17.9%
18.0%
19.5%
3.7
5.1
5.0
31-Mar-17
31-Mar-18
31-Mar-19
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
39.0%
37.0%
35.0%
33.0%
31.0%
29.0%
27.0%
25.0%
Cost to net Income
ROA *
2.18%
2.14%
2.00% #
36.9%
2016-17
35.1%
2017-18
36.5%
2018-19
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
* Assets includes securitised / assigned portfolio
# Adjusted for exceptional item
Portfolio Quality
Gross NPA %
Net NPA %
1.54%
1.27%
0.55%
0.66%
1.33%
0.83%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
31-Mar-2017
31-Mar-2018
31-Mar-2019
For Mar 2018 & Mar 2019 - Gross & Net NPA corresponds to stage 3 assets, calculated as per Expected Credit Loss model in line with Ind AS.
Credit Ratings
Instrument
Deposits
Debentures
ICRA
CRISIL
AAA (Stable)
AAA (Stable)
AAA (Stable)
AAA (Stable)
Subordinated Debentures
AAA (Stable)
AAA (Stable)
Long Term Loans
AAA (Stable)
AAA (Stable)
Working Capital Facilities
AAA (Stable)
Commercial Paper
Short Term Loans
A1+
A1+
A1+
Branch Network
31-Mar-18
31-Mar-19
No. of Branches : 622
No. of Branches : 658
66
35
155
68
42
366
161
387
No. of Employees : 3880
No. of Employees : 4055
South
North West
East
Subsidiaries, Joint Ventures & Associates
Subsidiaries
Joint Ventures
Sundaram Finance Holdings Limited
Sundaram Business Services Limited
Sundaram Asset Management Company Limited
Sundaram Asset Management Singapore Pte. Limited
Sundaram Trustee Company Limited
Sundaram Alternate Assets Limited
LGF Services Limited
Royal Sundaram General Insurance Co. Limited
Sundaram BNP Paribas Home Finance Limited
Sundaram BNP Paribas Fund Services Limited
Associates Axles India Limited Turbo Energy Private Limited Transenergy Limited Sundaram Dynacast Private Limited Sundaram Hydraulics Limited Flometallic India Private Limited Dunes Oman LLC (FZC)
Consolidated Results
₹ in Crore
PAT
1161
683
730
1250
1050
850
650
450
250
2016-17
2017-18
2018-19
EPS (₹)
61.52
66.28
105.40
Net Worth
5649
6259
4809
9000
7000
5000
3000
1000
31-Mar-17
31-Mar-18
31-Mar-19
Book Value (₹)
432.86
512.99
568.29
Consolidated Results
Particulars
Sundaram Finance Ltd. Subsidiaries: Royal Sundaram General Insurance Co. Ltd Sundaram Finance Holdings Ltd. (Consolidated) Sundaram Asset Management Company Ltd. (Consolidated) Sundaram Trustee Company Ltd. LGF Services Ltd Sundaram Finance Employees Welfare Trust
₹ in Crore
Share of Net Worth
Share in Profit
31-Mar-2018 31-Mar-2019 31-Mar-2018 31-Mar-2019 1126.31
5043.81
4133.63
563.44
755.71 744.29 177.25 1.60 4.18 11.97
- 626.22 197.94 1.80 3.67 13.86
57.08 34.32 31.02 0.85 0.34 0.78
- 36.39 28.84 0.80 0.25 1.89
Non-Controlling Interests in Subsidiaries
2307.07
1738.91
113.41
97.65
Joint Control Entities Sundaram BNP Paribas Home Finance Ltd Royal Sundaram General Insurance Co. Ltd Sundaram BNP Paribas Fund Services Ltd
Adjustment arising out of Consolidation
Total
587.52 - 14.95
639.21 551.12 10.52
72.36 - (0.07)
72.88 56.63 (4.43)
8738.17 (781.85)
8827.06 (828.87)
873.53 (30.21)
1417.21 (158.71)
7956.32
7998.19
843.32
1258.50
Sundaram BNP Paribas Home Finance
₹ in Crore
Particulars Disbursements -Housing -Non-Housing AUM -Housing -Non-Housing
PAT EPS (₹) Net worth Book Value (₹)
Gross NPA # Net NPA # CAR #
Branches Employees # as per prudential norms
31-Mar-2018 2626 63% 37% 8358 69% 31%
31-Mar-2019 2449 69% 31% 9064 70% 30%
144 14.26 1149 113.46
3.27% 1.09% 24.3%
112 746
146 14.37 1252 123.66
2.95% 0.94% 23.5%
115 755
Royal Sundaram
₹ in Crore
Particulars
31-Mar-2018
31-Mar-2019
Gross Written Premium
PAT
Net worth
Combined Operating Ratio
Employees
2643
75
996
109%
1955
3196
113
1102
108%
2105
Sundaram Asset Management
₹ in Crore
Particulars
31-Mar-2018
31-Mar-2019
Average AUM
-Equity
-Debt
PAT
Net worth
Employees
35,982
19,512
16,470
31
177
328
34,111
21,058
13,053
29
198
354
Retail Investors
11,22,438
11,87,512
Share Price Movement
1900
1700
1500
1300
1100
e c i r P e r a h S g n i s o C L F S
l
In ₹
SFL Closing Share Price
S & P CNX Nifty
1524
1615 1608
1878
1686
1677 *
17000
1600
1514
1439
1559
15000
1279 1301
1330
1150
900
7850 7738
8288 8611
8186
700
500
10531
10114
107141093010863
11624
9174 9521 9789
y t f i
N X N C P & S
13000
11000
9000
7000
5000
6 1 - r p A
6 1 - r a M
6 1 - n u J
6 1 - p e S
6 1 - c e D
7 1 - r a M
7 1 - n u J
7 1 - p e S
7 1 - c e D
8 1 - r a M
8 1 - n u J
8 1 - p e S
8 1 - c e D
9 1 - r a M
* Share price movement after 1st Feb 2018 is post demerger
Board of Directors as on 30.05.2019
Name of the Director Sri S Viji Chairman
Expertise Has over 5 decades of experience in Banking, Finance, Insurance and Automotive Component Manufacturing Industry. He is the Chairman of Sundaram BNP Paribas Home Finance Limited and Managing Director of Brakes India Private Limited.
Qualification B.Com, ACA, MBA (University of Michigan, USA)
Sri S Ram
Has over 5 decades of work experience in Vehicle and Component Industry . He is the Chairman of Wheels India Ltd., Axles India Ltd and India Motor Parts & Accessories Ltd.
BE (Mechanical), MS (Production Engineering) (Birmingham University, UK)
Sri Raghuttama Rao Raghavendra
Has over 3 decades of work experience spanning Manufacturing, Financial Markets, Public Policy and Management Consulting.
B.Tech. (Mech. Engg.) – IIT Madras, CMA – ICWAI, P.G.D.M. - IIM Ahmedabad
Sri P N Venkatachalam Has nearly 4 decades of experience in Banking, Finance and Capital
MA (Economics), CAIIB
Markets. Formerly Managing Director of State Bank of India.
Sri S Mahalingam
4 decades of experience in Finance and Information Technology. Formerly Chief Financial Officer and Executive Director of Tata Consultancy Services.
B.Com (Honours), FCA
Sri S Prasad
Has more than a decade experience professional and 37 years as a practicing Chartered Accountant.
in industry as finance
FCA
Board of Directors as on 30.05.2019
Name of the Director Sri S Ravindran
Expertise 4 decades of experience in Finance and Engineering. He is a Whole Time Director of Turbo Energy Private Limited.
Qualification
B.Com, ACA
Ms Shobhana Ramachandhran 3 decades of experience in General Management and automobile
MA (English Literature)
Sri Rajiv C. Lochan
industry. She is the Managing Director of TVS Srichakra Limited.
Has two decades of experience in the field of management especially in the areas of finance, social sector, and public health. He is the Managing Director and CEO of Kasturi & Sons Limited.
B.Tech. (IIT), MS (MIT), MBA (Columbia Business School)
Sri T T Srinivasaraghavan Managing Director
Has nearly 4 decades of experience in Banking and Financial Services. Has held various operational roles in the Company and brings to bear in-depth knowledge of automotive financing. He is the Managing Director of the Company since 2003.
B.Com, MBA (Gannon University, Pennsylvania)
Sri Harsha Viji Deputy Managing Director
Has more than a decade experience in areas of specialisation particularly, strategy formulation, joint venture negotiations, new business development.
B.Com, ACA MBA (Ann Arbor, Michigan)
Sri A N Raju Director (Operations)
3 decades of experience in the Automobile, Engineering, Finance and General Management.
BSc (Engineering), MBA
Key Managerial Personnel
Name Sri M. Ramaswamy Chief Financial Officer
Sri P. Viswanathan Company Secretary & Compliance Officer
Qualification B.Sc. (Statistics), ACA
B.Com, FCS
over
Expertise He has over 30 years of experience in the Company. He is the Chief Financial Officer of the Company from Sep 2011. He is responsible for the Treasury Management, Financial Planning & Accounting, Taxation and Regulatory Compliance. He is a member of the Risk Management the Committee and Asset Liability Management of Company. He the has Company/Group. He became the Company Secretary and Compliance Officer of the Company from Sep 2011. He is responsible for statutory compliance in respect of all laws and regulations applicable to the Company, including Company Law, SEBI and RBI. He liaisons with the Board Members in connection with all Board related actions in the Company. He was Chairman of the Expert Committee on Company law of Madras Chamber of Commerce and Industry and is a Committee Member of Finance Companies Association of India.
experience
years
40
of
in
Disclaimer
This document is for information purposes only and is not and does not form part of an invitation/ offer / advertisement / advise to purchase or sell any securities of the Company.
The materials and information contained in the document are prepared by the Company and are correct and accurate, to the best of our knowledge. No information contained herein has been independently verified by anyone else or approved by any regulatory authorities. No warranty is given as to their accuracy and the company does not accept any responsibility and shall not be liable for any direct or indirect loss caused, arising from and/or use of this document.
Forward-looking statements, if any, are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant statement.
The contents of the website are subject to changes and reviews from time to time without notice. By accessing the site, you are deemed to accept the disclaimer clause.
Shri M Ramaswamy Chief Financial Officer Sundaram Finance Limited 21, Patullos Road Chennai – 600002 Phone(D) Mail
: 044 – 28881341 : m.ramaswamy@sundaramfinance.in
Shri P Viswanathan Secretary & Compliance Officer Sundaram Finance Limited 21, Patullos Road Chennai – 600002 Phone(D) Mail
: 044 – 28881207 : pv@sundaramfinance.in