Equitas Holdings Ltd consolidated Q1 net profit up QoQ basis to Rs. 50.22 crore

Equitas Holdings Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.787.08 crores during the period ended June 30, 2020 as compared to Rs.802.85 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.50.22 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.14.59 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.1.54 for the period ended June 30, 2020 as compared to Rs.0.47 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 787.08 crs	₹ 802.85 crs	-1.96%
Net Profit	₹ 50.22 crs	₹ 14.59 crs	244.21%
EPS	₹ 1.54	₹ 0.47	227.66%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.787.08 crores during the period ended June 30, 2020 as compared to Rs.662.51 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.50.22 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.70.27 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.1.54 for the period ended June 30, 2020 as compared to Rs.2.05 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 787.08 crs	₹ 662.51 crs	18.8%
Net Profit	₹ 50.22 crs	₹ 70.27 crs	-28.53%
EPS	₹ 1.54	₹ 2.05	-24.88%

Key Highlights for Q1FY21:

Advances^

- Advances^ as of Q1FY21 was at Rs. 15,573 Cr, Advances^ growth of 27% YoY
- The Bank disbursed Rs. 564 Cr in Q1FY21
- 76% of advances* is secured loans

Liabilities:

- Deposits excluding CD at Rs. 11,471 Cr as on 30th June 2020, growth of 30% YoY and 11% QoQ

- Retail TD at Rs. 4,377 Cr as on 30th June 2020, growth of 96% YoY and 15% QoQ

- Savings Account deposits at Rs. 2,024 as on 30th June 2020, growth of 9% QoQ

- CASA stood at Rs. 2,354 Cr as on 30th June 2020, CASA as a % of Total Deposits at 21%

- All the Channels (TASC, CA, Corporate Salary, NR) started their full-fledged functioning in Jun’20

Key Ratios:

- Cost to Income+ at 66.41% in Q1FY21 as compared to 69.09% in Q1FY20
- RoA^ and RoE# for Q1FY21 at 1.20% and 8.72% respectively

Capital:

- As of June 30, 2020 Total CRAR at 21.59% and Tier-I CRAR of 20.61%; Well above minimum regulatory requirements of 15% and 7.5%
- Tier II Capital at 0.98%

Treasury & Liquidity:

- Bank has undertaken Inter-Bank Participation Certificates (IBPCs) with a mix of PSL/Non-PSL advances which further enhances the liquidity of the Bank

- Liquidity Coverage Ratio (LCR) as on 30.06.2020 at 139.4% much above the minimum regulatory requirement of LCR at 80%

- Average cost of funds for Q1FY21 at 7.63%

Balance Sheet:

- Advances^ as of June 30, 2020 grew 27% YoY to Rs. 15,573 Cr
- Micro Finance grew by 16% YoY from Rs. 3,124 Cr in Q1FY20 to Rs. 3,618 Cr in Q1FY21
- Small Business Loans (Incl. HF) grew by 32% YoY from Rs. 4,926 Cr in Q1FY20 to Rs. 6,484 Cr in Q1FY21
- Vehicle Finance grew by 25% YoY from Rs. 3,027 Cr in Q1FY20 to Rs. 3,776 Cr in Q1FY21
- MSE Finance grew by 154% YoY from Rs. 280 Cr in Q1FY20 to Rs. 712 Cr in Q1FY21
- Corporate Loans grew by 39% YoY from Rs. 555 Cr in Q1FY20 to Rs. 772 Cr in Q1FY21

Liabilities & Branch Banking:

- Deposits excluding CD at Rs. 11,471 Cr, growth of 30% YoY
- Retail TD at Rs. 4,377 Cr as on 30th June 2020, growth of 96% YoY and 15% QoQ
- Savings Account deposits at Rs. 2,024 as on 30th June 2020, growth of 9% QoQ
- CASA stood at Rs. 2,354 Cr as on 30th June 2020, CASA as a % of Total Deposits at 21%

Asset Quality:

- GNPA$ at 2.68% in Q1FY21 as compared to 2.72% in Q4FY20 and 2.73% in Q1FY20
- NNPA$ at 1.39% in Q1FY21 as compared to 1.50% in Q4FY20 and 1.54% in Q1FY20

Shares of Equitas Holdings Ltd was last trading in BSE at Rs.51.05 as compared to the previous close of Rs. 49.3. The total number of shares traded during the day was 357056 in over 1580 trades.

The stock hit an intraday high of Rs. 51.45 and intraday low of 50.1. The net turnover during the day was Rs. 18163975.

Source : Equity Bulls

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