Stockrabit · Analysts
Questions across 100 calls

Kunal Shah

Citigroup

Can Fin Homes Limited

Can Fin Homes Limited CC-Dec24.pdf · 2025-01-20
Thanks for taking the question. So generally when there is this entire technology transformation particularly on LMS, LOS. W e have seen for the other players a disruption in the business as well be it in terms of disbursements. So would it be fair to assume that we would also see some similar kind of disbursements and if you can quantify as to how long could that impact be in the next fiscal?
Sure. Because that will also be skewed towards the busy season of second half, yes. So that was the general concern. Okay. And overall, in terms of cost you indicated that, yes, in terms of the cost to income, but if you can quantify in terms of how much could be the impact on OPEX in particular?

RBL Bank Limited

RBL Bank Limited CC-Dec24.pdf · 2025-01-18
Yes. Firstly, on LCR. So quite a sharp improvement out there. So maybe anything done with respect to the quality? No doubt you indicated in terms of the granular deposit growth. But besides that, in terms of the outflow rates and all, how are we seeing it and what has clearly led to this improvement?
Okay. And secondly, in terms of margins, so again, I think on MFI, looking at the overall operating environment, the growth could be lower. Credit card also, it will take some time before we see the entire transitioning towards the newer partners. So then maybe obviously, there has been some element of interest reversals, but definitely should we look at the overall margins being down even from the current level because of the pressure on yields and some maybe cost of funds also staying elevated?

Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited CC-Dec24.pdf · 2025-01-18
Congratulations for a good set of numbers in such a challenging environment. So, firstly, any update with respect to the RBI restriction? You have indicated that there is substantial progress, but if you can just indicate maybe where are we in terms of the audit? Is the report submitted? And maybe how has been the feedback from the regulator? Yes, that would be helpful.
But are we done with whatever was required from our end and all the submissions are done, or how should we look at it?

Axis Bank Limited

Axis Bank Limited CC-Dec24.pdf · 2025-01-16
Just one clarification in terms of Bharat banking, you indicated it during the margin comments and the interest reversals, but would you incrementally say that the slippages, even on the retail, is coming from the Bharat banking or the seasonal agri stress? If you have to look at it, maybe compared to the way the movement has been over the last Q2 to Q3, generally it's been in the range of Rs. 500 odd crores. Does it continue in the similar trajectory or it's still higher this quarter?
Yes, so overall slippages, okay, generally when we look at it over the past few years, generally the incremental slippage seems to suggest it's like closer to Rs. 500 odd crores. Can we say that incrementally that has also been higher, or this is whatever is the higher slippage that's primarily PL and CC and MFI?
Axis Bank Limited CC-Sep24.pdf · 2024-10-17
Yes. Thanks for taking the questions. So first is with respect to the loan growth and you alluded when you were answering with respect to the deposit growth. But even in terms of the break-up, if we look at it in few of the segments like home loan, vehicle loans, corporate, we are still lagging significantly to the system average growth. So I think should we still assume that this might continue for a while? And the larger part of the growth will still be driven by higher yielding focus segments more to manage deals?
Okay. So fair to assume maybe at least in terms of the traction on retail, we will still see the decline, particularly on the unsecured and some pickup on the secured side?

LIC Housing Finance Limited

LIC Housing Finance Limited CC-Sep24.pdf · 2024-10-29
So the first is when we look at the decline in GS3 as well as GS2, is that the impact of the recoveries, no doubt you have indicated recovery from return of account. But broadly, I want to get the sense in terms of the decline in the GS3 and GS2 percentage . There is some amount of write-off of INR286-odd crores, but still the overall quantum seems to like almost INR500 crores in GS3. And even GS2, there is a decline out there of almost like say INR250-odd crores. So what's driving that?
Yes. So were you able to hear the question?
LIC Housing Finance Limited CC-Jun24.pdf · 2024-08-05
So on these collections from NPA account, you have indicated a number of INR230 crores for 4Q. But if you can just help with respect to the full year, and what's the normalized levels of these collections, which are expected? And will it continue at INR90 crores, could it be lower than that and again have some volatility in margins. How should we look at it? Because last 3 quarters' margins have been over 3-odd percent, yes.
Yes. So if we look at it last Q2 and Q3, how much was that amount, yes? So that would help maybe just for comparison purpose when it comes to our next 2 quarters?

The Federal Bank Limited

The Federal Bank Limited CC-Sep24.pdf · 2024-10-28
So, the first question is on the divergence between the loan growth and the deposit growth. So, how should we look at it going forward this quarter? It has widened a bit. So, overall, would it be fair to assume that we might slow down a bit on the loan growth side, calibrate with respect to some of the high return focus areas? Or maybe we are confident of pulling back the deposit growth?
And secondly, with respect to Fed Bank financial services and the investment norms. So, what would be our thoughts in terms of conducting that business because most of the lending can be done at the bank's end as well and given being a group entity. Any early thoughts or maybe any discussions out there on this?

Punjab National Bank

Punjab National Bank CC-Sep24.pdf · 2024-10-28
Most of the questions have been answered. One thing with respect to PNB Housing, this entire new draft circular which h as been there, which talks about the group company. Obviously, it’s an associate, but still the group entity, which says that it cannot carry on the business similar to that of a Bank. So, would maybe in terms of having a stake in that subsidiary, we can maybe prepone that taking into account that the draft circular or what would be our overall stance on the holding in PNB Housing Finance?

Cholamandalam Investment and Finance Company Limited

Cholamandalam Investment and Finance Company Limited CC-Sep24.pdf · 2024-10-28
So first is on the borrowing side. So when we look at it, still the skew is more towards the bank borrowing compared to that of the debt market. But the rate cuts would be following relatively later compared to the benefit, which we are seeing on the debt market side. Would we be tweaking the proportion looking at the opportunities, which are available? Or we obviously expect the overall mix to continue? And within bank borrowings, how much is linked to MCLR and how much is linked to EBLR within that, in terms of just t o gauge the repricing benefit?
Okay. And within bank borrowing, you said 50% is linked to EBLR?
Cholamandalam Investment and Finance Company Limited CC-Jun24.pdf · 2024-07-29
Yes. Congratulations, Kundu sir. So again, touching upon this growth, in fact, when we look at it, the traction, as you mentioned on the disbursement side, is better than what you expected plus almost like 8% sequential growth in a seasonally weak quarter. Doesn't it give the confidence to be like relatively higher on the AUM growth, you seem to be slightly conservative with this 25%, 30%? Or you are clearly seeing that in some segments, you would tend to pull back on the growth, if any asset quality issues come up?
Okay. But otherwise, there is nothing because in terms of credit cost also, you are confident that it will come off, okay, maybe at least yields will also improve. So that is nothing which worries us on the growth side, considering the traction which has been there on Q1.

Bajaj Housing Finance Limited

Bajaj Housing Finance Limited CC-Sep24.pdf · 2024-10-21
Congratulations for listing and thank you for taking my question. So with respect to the lease rental, the way the ticket sizes have been going up now, we are almost 103 compared to less than 60 few years back. So what size? Is there any particular ticket size we would be comfortable with? The developer housing, we have managed it less than INR 50-odd crores in terms of eight years. So anything out there. And related to that, when we look at it, almost zero stage two, stage three, and developer finance also hardly anything. But when we look at the history, maybe the players in this segment, asset quality has been quite patchy in terms of when the cycle turns. So any plan to create provisioning at any point in time? Because today it's almost like a zero provisioning on this INR 25 crores, INR- 26,000 crores of the book. So now what would be your view in terms of provisioning in these two segments?

AU Small Finance Bank Limited

AU Small Finance Bank Limited CC-Sep24.pdf · 2024-09-30
So first question, when we look at it in terms of the provisioning, so it seems like incremental delta is not much flowing in from MFI, but particularly from credit cards plus PL/BL as well as the secured retail when we look at 1.15% to 1.28% and the awaited credit cost out there and you indicated that secure should come back. Is it like the catch-up in the MFI which will offset the improvement in the secured and commercial banking? And that's the reason we are still continuing with that guidance of 1.28% credit costs. And does it include contingency buffer?
And secondly, on LCR, now down to almost 112-odd percent, no doubt, it's indicated that you carry sufficient high-quality liquid asset and the non-SLR investments. But how should we look at it given the draft LCR circular also being there? And how would we tend to improve this LCR ratios going forward here? So what are the initiatives which we would be taking?

Five-Star Business Finance Limited

Five-Star Business Finance Limited CC-Jun24.pdf · 2024-08-01
Sorry, joined in late, not sure if that got answered, but if you look at the AUM vintage, maybe that is now getting more skewed towards the lower bucket in terms of one to four years. So, is it more in terms of incrementally we have changed the tenor, or this is more in terms of the repayment which are happening and what the proportion is left on the AUM that is showing that kind of a vintage because the disbursal growth run rate is also relatively low?
But in terms of contract tenor, that is something which we have not tweaked and still continues.

Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited CC-Jun24.pdf · 2024-07-23
So firstly, with respect to yields again, so you highlighted in terms of at least on the product side, we are largely done and there shouldn't be too much of drag. But when we look at it in terms of the regions, okay, wherein we were more focusing on, say, affluent and maybe outside of the rural, could that continue as a drag? Or maybe -- and there also we have achieved the levels which we were looking forward to, and there should not be any further pressure on yields, yes?
Yes. And second is the last time you indicated that maybe opex, it's not very easy to climb down because you will continue to invest. And this time, you are highlighting that maybe levers are completely in your control, and the benefits are accruing from it. So not getting the contradictory statements over maybe a qu arter. So, no doubt you are highlighting in terms of 15 bps getting shaved off. But is it like on the investments we have cut down a bit and that's giving the added benefit on the opex to assets?
Mahindra & Mahindra Financial Services Limited CC-Mar24.pdf · 2024-05-06
So, a couple of questions. Firstly, with respect to cybersecurity, which is there in the not e, in terms of experience some incident out there which took almost like 9 or days to restore, so what is the intensity, what could be the implications of this going forward and how are we taking care about this? So, that is the first question and second is collection efficiency in April again being quite low at 89% even on year-on-year basis. So, if we look at maybe the last 3-4 months, in fact on year-on-year basis, the trends in collection efficiency are not that great. No doubt overall Stage-3 numbers have been coming off with the help of write offs as well , but anything to read into this lower collection efficiency.
So, election disruption will not have the impact on the entire Q1?

Union Bank of India

Union Bank of India CC-Mar24.pdf · 2024-05-11
So, with respect to write-offs and the recovery from that, so when we look at it this year, we have almost done Rs. 4,000 odd crores kind of recovery from the written off accounts. And we are guiding for recoveries to continue quite strong, getting into FY '25 as well. But broadly, if you can just highlight maybe out of this Rs. 16,000 odd crores of guidance for recovery, how much of that could be from the written off accounts and the pull out there?
That will be like more than Rs. 4,000 crores. And when you look at it in terms of the related question, may be the dummy interest which was accrued during this year, so is that the reason that despite may be exiting the Q4 with this kind of a margin, we are still guiding for 2.8% to 3% margin, or is it more in terms of the cost of deposits catch up and how much of re-pricing on the deposit is still left?

Aptus Value Housing Finance India Limited

Aptus Value Housing Finance India Limited CC-Mar24.pdf · 2024-05-06
So, firstly, maybe with respect to the branch addition , last time also we indicated we would be adding on too few branches, but I think the number is almost steady at 262. So, what would have led, I think, last time presentations say we would have already opened it in 4Q. And despite that when we look at OPEX, both in terms of the employee cost as well as the over head cost, that has been higher. So, what has led to the higher OPEX?
And this employee cost rise, this would be more to do with the incentives during the quarter?

IDFC First Bank Limited

IDFC First Bank Limited CC-Mar24.pdf · 2024-04-27
So, this entire breakup in terms of the cost to income , if you can highlight in terms of the proportion, how much would be getting into the credit cards and the liability of the total cost of Rs. 16,000 odd crores? Just trying to see in terms of how much of leverage can it bring about in terms of the overall cost to income as and when it normalizes.
This is very helpful. And secondly, in terms of the core PPOP, so you clearly articulated the trajectory over next four quarters, but looking at maybe what you are targeting 1.4% ROA with almost like say 1.65% credit cost, so ideally when we look at the PPOP from 2.25%, 2.3%, what are the levers which can take it up further, say, from here on? Will it be more cost to income or maybe still there is some, obviously some borrowing requirement will help in terms of the lean trajectory. But besides that, are any other levers available? Because fee income is also upwards of 2%, margins are also at this level. So, will it be largely cost to income?