Stockrabit · Analysts
Questions across 50 calls

Mahrukh Adajania

Nuvama

LIC Housing Finance Limited

LIC Housing Finance Limited CC-Dec24.pdf · 2025-02-03
I just had a couple of questions. Firstly, that we did have a discussion around interest rates in the second quarter earnings. But I just wanted to check one thing that in the past cycles, we've seen that your PLR would have -- that is your repricing of existing loans could have lagged with the banks, right? Because your PLR depends on your own cost of funds, not what the private banks do? So wouldn't that increase the risk of a balance transfer, should the rate cut cycle resume or start? So that's my first question. And my second question is on growth. So what do you -- what would be a fair assumption for growth in FY '26, right? Because it's currently 6%. 4Q, you have guided to an improvement. So what growth can we look forward to in FY '26? These are my initial questions.
I just had one question on self-occupied property. So does that clause help you a lot because your average ticket size is not big, right? So...?

Punjab National Bank

Punjab National Bank CC-Dec24.pdf · 2025-01-31
Hello, congratulations. I had a couple of questions. Firstly, congratulations on your appointment, sir.
So, basically my question was that obviously you've not spent much time with PNB, but, over the last three, four quarters, there was a stable growth path of PNB. They were kind of acquiring market share in loans and deposits, keeping margins more or less stable, reversing provisions. So, that has been the strategy over the last four quarters. Now under you, do you see that change? Because that is, whenever there is a change in CE O, that is the biggest investor concern, right? That the CEO may have his own strategy, may have his own thought process, which will always be good for the medium to long term. But how do we view it? Or how do we assess the short - term financial impact of any change in thought process? So, that's my first question. And then I have a few questions on numbers. So, the question I have on numbers is that your NIM has held much more steady compared to other state-owned banks. So, what could be the outlook for Q4? Because your deposit growth is strong, your loan growth is also strong, and that helps. But your margin performance has been better than other PSUs. So, what is the outlook here? And then what will be a steady state of credit cost? Because this quarter, there were reversals. And last quarter also, credit costs were very low. So, what would be a steady state credit cost in F Y26? So, these were my questions?

The Federal Bank Limited

The Federal Bank Limited CC-Dec24.pdf · 2025-01-28
Hi, good morning and congratulations on the new strategy. I had a few questions. Firstly, is the reorientation of deposits and loans complete or will there be some more consolidation even in the current quarter? Or putting it in other words, would it be fair to say that the deposit and loan growth would have been higher if there was no reorientation in the quarter? So, that's my first question and my second question is on margins. So, some of the unprofitable growth has been given up and NII has also grown 3% through Q-Q, which is good. But the reason why NII growth is higher than asset growth is because of average balance is being higher or is there some cost which will pick up in the next quarter? Would there be some quarter end mobilization of deposits which should reflect in the next quarter? And the last one, if you could explain what exactly was written off because your credit costs excluding the 292 crores is a very small number, 0.5 billion. So, there's no impact of the big write-off on credit costs. So, were these all 100% provided accounts or how do we view it? These are my questions.
The Federal Bank Limited CC-Sep24.pdf · 2024-10-28
Basically, I have three questions. My first question is on deposit growth. So, the total deposit growth in the quarter was 1%. How do you plan to accelerate it in third and fourth quarters, given that competition is still high? Your deposit cost hasn't risen much quarter-on-quarter. So, that's of course positive. But from hereon, how do you take it forward? That's my first question on deposit growth.
Okay fine and in terms of fees , there have been sharp movements in quite a few buckets right , so general service charges have gone up a lot, para banking has gone up a lot, any special things you need to call out here, I mean how has the traction been so strong in these buckets?
The Federal Bank Limited CC-Jun24.pdf · 2024-07-24
Yes, hello. First of all, congratulations, Shyam, on a very successful journey and a very successful stint at Federal Bank. And thank you for the interactions and sharing your expertise with us. So thanks a lot, and we'll miss interacting with you.
Yes. And congratulations on this quarter as well. I just had a few questions. Firstly, in terms of the other miscellaneous income, if you could quantify what the PSLC income was and what the revaluation on investment was? So if you could give a breakdown b ecause it's much stronger even than last year, which was 1.6 billion. So a breakdown of the 2.2 billion that is the first question. And then I have two others.
The Federal Bank Limited CC-Mar24.pdf · 2024-05-02
Hello Sir, I have three questions. So the first question is on your recovery upgrades, which are almost at an all-time high for you. So congratulations for that. But would there be an impact of the recovery and upgrades on the NII because a lot of PSU banks take some amount of recovery income through the NII. So was there any interest -- recovery interest income in the NII? And then if there was, what was it last quarter or some comparison like that? That's my first question.
Sure. Then the second question is on fees. So if you see on an annual basis, your fee growth other than investment profit is strong at just a little under 30% other than investment gains. But the problem is that just like in the fourth quarter, there's bee n some softness. So while the card fees have been strong, para banking has been softer, and there's a lot of movement across segments. So any longer-term guidance we can get on fee income and what drove the Y -o-Y growth and the Q-o-Q growth in the fourth quarter to look a little softer than earlier quarters, if there's any seasonality or any reason? And how – what growth do we build in, in the next year or so? Does it be 25% up or what? And then the third is on opex. So if you exclude the employee provision from your annual opex, right, of 1.62 billion, you still have a growth of around 25%, a little higher than 25% year -on- year. So is that -- will that run rate continue? Or how does it moderate from hereon, on an annual basis? These were my questions, sir.

SBI Cards and Payment Services Limited

SBI Cards and Payment Services Limited CC-Dec24.pdf · 2025-01-28
Sir, I have a few questions that if you see your write -offs, they continue to increase, and other provisions are declining. So, what would give you the confidence that write -offs would taper off from fourth quarter, because that is what will bring down credit costs, right? Or is it that asset quality will start improving and then credit cost will improve with the lag? I mean how do we view this? When do we see credit costs improving? And what would drive that ? Write- offs, they have been continuously rising and sharply. So, will they taper off now? Is this the peak? That's my first question.
Got it, sir. And, what kind of receivables loan growth can be built for the next year? What do you think?
SBI Cards and Payment Services Limited CC-Jun24.pdf · 2024-07-26
So, in the last con call we had discussed that there are no cohorts in terms of vintage that are contributing to higher delinquencies of costs. They are kind of cohort of vintage diagnostic. So, is it that customers or process cohorts are multi -leveraging as in that even customers that you may have on-boarded say 1 year or 1.5 years ago, is it happening across cohorts? And is the re culture really deteriorating or how do we look at it?
Got it. And in terms of opex where -- how long do you see the remaining subdued?

Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited CC-Dec24.pdf · 2025-01-18
Hi, congratulations. I have two questions. Firstly, your loan growth ha s been strong sequentially, which is very good , you have grown in a balanced fashion in most segments. So, in that sense the ban is not impacting your growth , right, it's more about obviously banks have to be digital and you need digital for onboarding customers, and you need to be up to date in tech. But despite the ban, you have achieved a sequential growth which is materially better than other banks. So, would it have been different if the ban would have been lifted or the ban is impacting the overall customer franchise, but not really the loan growth? That's my first question. And my second question is that different banks are at a different stage of asset quality , but most of the channel checks or the macro checks or the bureau checks give negative indicators only. So, are these lagged indicators? Or is it that asset quality going ahead is likely to remain volatile given that these indicators are still emerging or still being seen , and therefore credit cost for the sector will continue to be volatile? So, you may have seen lower slippages now, do you think that your slippages would have peaked or there could always be some other link ed sectors of stress? That's my next question. Thanks.
Does the growth trajectory change, or will it just be a different mix?

Axis Bank Limited

Axis Bank Limited CC-Dec24.pdf · 2025-01-16
I have a follow-up question on deposits. So, if your total growth remains a bit soft, then the QAB growth going ahead will also be affected. So, are you okay with low growth till the system deposit taking improves or will you launch some competitive schemes to improve the total growth so that it has a favorable impact on QAB going ahead as well, right? Because we don't necessarily get QAB figures from all banks. Maybe just two or three. And as such, it's hard to compare. So, just a thought on how the total deposit growth will improve or just some guidance on whether if the system deposit growth remains tight, then you would rather opt f or managing margins and calibrating growth? So, that's my first question. And my second question is on asset quality. So, you have given many, many details. Thank you for that. But do you see any spillover stress in any segments other than unsecured and even the small bit of MFI you have, which you already called out earlier? So, do you see that's the unsecured stress spilling into other segments? You may not have a big exposure, but just a system wide comment as well would help. These were my two questions. Subrat Mohanty: Mahrukh, this is Subrat. Thank you for your question. On the deposit growth in future, you are absolutely right. The MEB or the month -end or the quarter-end growth has to come eventually if the QAB numbers have to continue to be high. We are quite aware of that. So, Munish listed out a host of initiatives that's all. So, we continue to remain confident about the outcomes of those initiatives. At this moment, the system liquidity is also a constraint, and the overall deposit growth at a sectoral level is also somewhat a constraint because of that. So, we will continue to work on it. We are not unaware of the need to continue to have strong mont h-end and quarter-end balances as well. But like Munish pointed out, it's a dynamic interplay of the cost of funds, quality of deposits, and making sure that we do not have volatile deposits in future, which drives our strategy. You have seen in the past also, if you take a 9 months’ view of our deposits for this year and compare it with 9 months of the previous year, even on month-end balances, the growth is higher than the industry growth. So, once again we will request you to not take a quarter or a running quarter basis comparison because that sometimes has a little bit of fluctuation. So, we will continue to work on making sure that the MEB balances also correspond to the growth that we are seeing in the QAB balance.
Axis Bank Limited CC-Sep24.pdf · 2024-10-17
Hi. I had a couple of questions. Firstly, on deposit growth. You've done a good job in improving the quality of deposits. You've been working on it for a long time. I know you've given a medium -term forecast of growing faster than the sector. But like if you really look at the yearly deposit growth or early loan growth, even if you build a 3%, 4% Q-o-Q deposit growth for the next two quarters, it comes to best low single -digit or maybe low double-digit or very high single-digit. And that's kind of lower compared to peers. So any plans to accelerate deposit growth from now on, given that the quality has been achieved like increasing rates. That's my first question. And if you could call out the IT refund this quarter, like last qua rter was Rs 200 crores is what was called out?
So there is no IT refund this quarter?

HDFC Bank Limited

HDFC Bank Limited CC-Sep24.pdf · 2024-10-19
Yes, hi, good evening. My first question is on fee. So, it's grown strongly. Is ther e some securitization income in fees? And if you could also refresh us with the accounting for any securitization, as in where it should come? That's my first question. And my second question is on movement of contingent provision. So what kind or what class of loans would they have been used for, because I think the contingent provision looks lower Q-o-Q?
Got it. And will the margins optically look higher than yields from next quarter given that -- or no, not really because they'll be part of investments anyway, right? Yes. Okay. Sorry, and on contingent provisions?
HDFC Bank Limited CC-Mar24.pdf · 2024-04-20
Thanks Sashi for the opening remarks. My first question, I know you said you will not give guidance, but if you see our deposit mobilization, it has been very strong. It came out in the business update. And the interest expenses for the 2 quarters are not very different from each other. So do we see a bulk of the expenses of this quarter -- or fourth quarter's mobilization coming into the first quarter? And also in terms of LDR, I mean I think you possibly laid out in the beginning about retail deposit mobilization being a key focus. But still, in terms of LDR, would you want to reach 100 or below in an accelerated fashion?
Thank you very much. That was very helpful. Thank you.

Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited CC-Jun24.pdf · 2024-07-23
So just in terms of your ECL coverage now, what would be a fair estimate of coverage on a steady-state basis for the next 4 to 5 quarters. So it's dropped 3%, you had also guided to it that the cover would fall. But is there a target ECL you have in mind, like some companies have a target that they will not go below 50. There are some NBFCs. So is there any such range that we need to be aware of?
Okay. But could you share the LGDs...

Union Bank of India

Union Bank of India CC-Jun24.pdf · 2024-07-20
Ma'am, firstly on PSLC income, while of course it's always strong in the 1st Quarter, it is kind of doubled. So, who would be the main buyers -- would it be Foreign Banks, Private Banks, who are the main takers of PSLC because the demand this quarter looks to be significantly higher than last year, right, where last year's 1st Quarter also there was good income, but this time it's even better? And what is it that sells the most -- is it agri-gold or what? That's my first question and then I have a question on cost of funds as well.
Sorry, I did not hear the last point.
Union Bank of India CC-Mar24.pdf · 2024-05-11
Ma’am, so your annual slippages are within your guidance, but there has been a sharp increase in MSME, Agri and Retail slippage QoQ in the fourth quarter though of course, the overall figure for the year is in line with your guidance. So, if you could explain if there's any seasonality or any specific geography-related issue or any segment-related issue within these three segments? That's my first question, and I have two others.
Sure. But sir, the growth in this quarter, QoQ is much sharper than the previous last few years. And then on a sequential basis, and also like when private banks say, they say that first and third quarter have seasonality in terms of repayment. So, how is it different for state banks? Why is it more seasonally weaker in terms of repayments in fourth quarter, like say, relative to private banks? Though I know that PSUs have a larger Agri portfolio than private, but still asking just for understanding.

REC Limited

REC Limited CC-Mar24.pdf · 2024-05-08
Sir, my first question is on this new RBI draft circular. So basically, I just wanted to know, of course, please do share your comments on the scene, but I had some specific questions which is that of your INR5 trillion of loans, there are some loans to distribution companies, which would be term loans. So they would also qualify under the RBI circular, right? What proportion of your loan book roughly would qualify as being impacted by the RBI circular? And then if at all, you've calculated any rough impact? And my second question related to the same topic is that , say you have renewable plants, wind solar plants, their tariffs are only 2, 2.5. So even if lenders were to pass on higher rates, how would they sustain? How would they meet their DSCR? And also for these renewable projects, some approvals are always pen ding at the time of disbursals. So how do you tackle that? Here you are not supposed to disburse till all approvals are in place. And that's never the case in some power and even in some industrial projects. So these are my questions, sir.
What will be the tax implication of taking directly through impairment reserve, no tax deduction?

Can Fin Homes Limited

Can Fin Homes Limited CC-Mar24.pdf · 2024-04-30
So I have a few questions first. So basically, my question was on yield and cost. Your yields have remained pretty steady. And so has your cost of fun ds? How do you see it going ahead? And also, if you could talk us through competitive intensity in your segment of borrowers and who are the 2 to 3 most aggressive competitors if you could throw any color on that? That's my first question. .
Your competitors in the 700-plus segment, are they lending at 8.95 or lower?

Yes Bank Limited

Yes Bank Limited CC-Dec23.pdf · 2024-01-29
I have two questions. The first is on Personal Loans that was discussed a bit. So, why were tightening measures required in P ersonal Loans? What was your ticket size - most of it would be salaried. So, what was your ticket size and in general is there some read through for the sector on that bit? And secondly, on just the realization of Security Receipt I know it happens as and when, but is there any path you can guide us to build better estimates?
And on the realization of SR?