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Stock Report
Bajaj Finance Ltd reports consolidated Q4 FY20 PAT of Rs. 948.10 crore
Posted On : 2020-05-19 17:52:44( TIMEZONE : IST )
Bajaj Finance Limited has reported financial results for the period ended March 31, 2020.
Financial Results (Q4 FY19-20) - QoQ Comparison
The company has reported total income of Rs.7230.83 crores during the period ended March 31, 2020 as compared to Rs.7023.76 crores during the period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.948.10 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.1614.11 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.15.69 for the period ended March 31, 2020 as compared to Rs.27.12 for the period ended December 31, 2019.
| Financials | Q4 FY19-20 | Q3 FY19-20 | % Change |
| Total Income | ₹ 7230.83 crs | ₹ 7023.76 crs |  2.95% |
| Net Profit | ₹ 948.10 crs | ₹ 1614.11 crs |  -41.26% |
| EPS | ₹ 15.69 | ₹ 27.12 | -42.15% |
Financial Results (Q4 FY19-20) - YoY Comparison
The company has reported total income of Rs.7230.83 crores during the period ended March 31, 2020 as compared to Rs.5298.01 crores during the period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.948.10 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.1176.06 crores for the period ended March 31, 2019.
The company has reported EPS of Rs.15.69 for the period ended March 31, 2020 as compared to Rs.20.24 for the period ended March 31, 2019.
| Financials | Q4 FY19-20 | Q4 FY18-19 | % Change |
| Total Income | ₹ 7230.83 crs | ₹ 5298.01 crs | 36.48% |
| Net Profit | ₹ 948.10 crs | ₹ 1176.06 crs | -19.38% |
| EPS | ₹ 15.69 | ₹ 20.24 | -22.48% |
Financial Results (12 months ended FY 19-20) - YoY Comparison
The company has reported total income of Rs.26385.63 crores during the 12 months period ended March 31, 2020 as compared to Rs.18500.18 crores during the 12 months period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.5263.75 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.3994.99 crores for the 12 months period ended March 31, 2019.
The company has reported EPS of Rs.89.07 for the 12 months period ended March 31, 2020 as compared to Rs.68.75 for the 12 months period ended March 31, 2019.
| Financials | Year Ended FY19-20 | Year Ended FY18-19 | % Change |
| Total Income | ₹ 26385.63 crs | ₹ 18500.18 crs | 42.62% |
| Net Profit | ₹ 5263.75 crs | ₹ 3994.99 crs | 31.76% |
| EPS | ₹ 89.07 | ₹68.75 | 29.56% |
Due to Covid-19 pandemic and the consequent lockdown, the Company lost 10 productive days in Q4 FY20 resulting in lower acquisition of nearly 1.0 million loan accounts and lower AUM of approximately Rs. 4,500 crore. Adjusted for the impact of lockdown, AUM growth would have been 31%.
The Company is well capitalised with CRAR of 25.01% as at 31 March 2020. The Company remains one of the most capitalised amongst large NBFCs in India.
The Company's liquidity position remains very strong with overall liquidity surplus of approximately Rs. 15,725 crore as of 31 March 2020 on consolidated basis. The Company's liquidity surplus as of 15 May 2020 was approximately Rs. 20,900 crore.
In accordance with the RBI guidelines relating to 'COVID-19 Regulatory Package' dated 27 March 2020, the Company has offered EMI mortarium to its customers based on requests as well as on a suo-mota basis. The Company remains committed to help its customers navigate through this difficult time.
The Company, at this juncture, is focused on capital preservation, balance sheet protection and operating expenses management. Given it's healthy capital adequacy, strong liquidity position, low gross NPA and net NPA, access to retail deposits, large customer franchise, diversified portfolio mix, granular geographical distribution and strong risk metrics, the Company is confident of successfully dealing with challenges posed by Covid-19.
Gross NPA and Net NPA, recognized as per extant RBI prudential norms and provisioned as per expected credit loss (ECL) method prescribed in Ind AS, as of 31 March 2020 stood at 1.61% and 0.65% respectively. The provisioning coverage ratio was 60%. Standard assets provisioning (ECL stage 1 and 2) including contingency provision of Rs. 900 crore for Covid-19 stood at 159 bps and 97 bps excluding contingency provision under Ind AS.
New loans booked during FY20 increased by 17% to 27.44 million from 23.50 million in FY19. Adjusted for lower acquisition due to lockdown, new loans acquisition would have grown by 21% to approximately 28.44 million.
Loan losses and provisions (expected credit loss) for FY20 were Rs. 3,929 crore as against Rs. 1,501 crore in FY19. During the year, the Company has taken an accelerated charge of Rs. 483 crore for two identified large accounts, an additional provision of Rs. 129 crore on account of recalibration of its ECL model and a contingency provision of Rs. 900 crore for Covid-19. Adjusted for these additional provisions of Rs. 1,512 crore, loan losses and provisions for FY20 was Rs. 2,417 crore.
Capital adequacy ratio (including Tier-11 capital) as of 31 March 2020 stood at 25.01%. The Tier-1 capital stood at 21.27%. During the year, the Company raised equity capital of approximately Rs. 8,500 crore through QIP route.
Shares of Bajaj Finance Limited was last trading in BSE at Rs.1967.25 as compared to the previous close of Rs. 1940. The total number of shares traded during the day was 324502 in over 25284 trades.
The stock hit an intraday high of Rs. 2001.7 and intraday low of 1918.4. The net turnover during the day was Rs. 637157756.
