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Stock Report
DCB Bank Ltd reports Rs. 82.29 crore net profit in Q2FY21
Posted On : 2020-10-31 19:55:45( TIMEZONE : IST )
DCB Bank Limited has reported financial results for the period ended September 30, 2020.
Financial Results (Q2 FY20-21) - QoQ Comparison
The company has reported total income of Rs.970.98 crores during the period ended September 30, 2020 as compared to Rs.950.70 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.82.29 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.79.38 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.2.63 for the period ended September 30, 2020 as compared to Rs.2.53 for the period ended June 30, 2020.
| Financials | Q2 FY20-21 | Q1 FY20-21 | % Change |
| Total Income | ₹ 970.98 crs | ₹ 950.70 crs |  2.13% |
| Net Profit | ₹ 82.29 crs | ₹ 79.38 crs | 3.67% |
| EPS | ₹ 2.63 | ₹ 2.53 | 3.95% |
Financial Results (Q2 FY20-21) - YoY Comparison
The company has reported total income of Rs.970.98 crores during the period ended September 30, 2020 as compared to Rs.980.59 crores during the period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.82.29 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.91.41 crores for the period ended September 30, 2019.
The company has reported EPS of Rs.2.63 for the period ended September 30, 2020 as compared to Rs.2.90 for the period ended September 30, 2019.
| Financials | Q2 FY20-21 | Q2 FY19-20 | % Change |
| Total Income | ₹ 970.98 crs | ₹ 980.59 crs |  -0.98% |
| Net Profit | ₹ 82.29 crs | ₹ 91.41 crs | -9.98% |
| EPS | ₹ 2.63 | ₹ 2.90 | -9.31% |
Financial Results (6 months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.1921.68 crores during the 6 months period ended September 30, 2020 as compared to Rs.1925.05 crores during the 6 months period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.161.67 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.172.47 crores for the 6 months period ended September 30, 2019.
The company has reported EPS of Rs.5.17 for the 6 months period ended September 30, 2020 as compared to Rs.5.47 for the 6 months period ended September 30, 2019.
| Financials | Half-Year Ended FY20-21 | Half-Year Ended FY19-20 | % Change |
| Total Income | ₹ 1921.68 crs | ₹ 1925.05 crs | -0.18% |
| Net Profit | ₹ 161.67 crs | ₹ 172.47 crs | -6.26% |
| EPS | ₹ 5.17 | ₹5.47 | -5.48% |
Capital Adequacy continues to be strong and as on September 30, 2020 the Capital Adequacy Ratio was at 18.28% (with Tier I at 14.22% and Tier II at 4.06% as per Basel III norms).
Since the past 2 years, the Bank has been steadily growing Retail Term Deposits (deposit less than INR 2 Cr.) and reducing Bulk Deposits. As on September 30, 2020, the top 20 deposits stood at 7.89%. In comparison to Q2 FY 2020, the Bank grew its Retail Term Deposits by 33%. For the past many months, the Bank has been intentionally reducing Bulk and Interbank Deposits. During Q2 FY 2021, Inter Bank Term Deposit at INR 2,857 Cr. reduced by 29% as compared to INR 4,052 Cr. as at March 31, 2020. The Certificate of Deposits as on September 30, 2020 was zero.
Advances were at INR 24,879 Cr. as on September 30, 2020. Home Loans grew by 12%, Gold Loans by 62%, Agri & Inclusive Banking by 6%.
In Q2 FY 2021, the Bank disbursed INR 1,811 Cr. (Corporate Banking INR 460 Cr., Agri & Inclusive Banking INR 405 Cr., Gold Loan INR 402 Cr., Mortgage INR 271 Cr., SME/MSME INR 150 Cr.)
The Bank's Corporate portfolio was at 10% as on September 30, 2020.
The top 20 exposures of the Bank were at 5.17% as on September 30, 2020. This is one of the lowest in the industry. Further, the Advances at ticket size of INR 3 Cr. and below, constitute approximately 85% of the total Advances as on September 30, 2020. This is one of the most granular portfolios in the industry.
The Gross NPA as on September 30, 2020 was at 2.27% and Net NPA was at 0.83% (the Gross NPA as on June 30, 2020 was at 2.44% and Net NPA was at 0.99%).
If the Bank had classified borrowers accounts as NPA (INR 29 Cr.) after August 31, 2020 the Bank's Gross NPA Ratio and net NPA Ratio would have been 2.39% and 0.92% respectively.
The Provision Coverage Ratio as on September 30, 2020 was at 79.06%
Speaking on the Q1 FY 2021 results Mr. Murali M. Natrajan, Managing Director & CEO said, "We expect step by step improvement in Collections Efficiency in the coming months. We believe ECLGS is an excellent scheme that is likely to help bridge the gap in working capital and immediate financial obligations especially for smaller self-employed entities. New loan momentum is picking up and our aim is to achieve monthly volumes similar to pre-Covid-l9 between March 2021 to May 2021".
Shares of DCB Bank Limited was last trading in BSE at Rs.78.05 as compared to the previous close of Rs. 77. The total number of shares traded during the day was 78947 in over 1430 trades.
The stock hit an intraday high of Rs. 78.55 and intraday low of 75.75. The net turnover during the day was Rs. 6088028.
