Stockrabit · Analysts
Questions across 37 calls

Raghav Garg

Ambit Capital

Aavas Financiers Limited

Aavas Financiers Limited CC-May26.pdf · 2026-05-05
I have a few questions. One, see, when I look at your number of loans disbursed data, right, that disbursement value divided by the disbursement ticket size, for full year and even for the last 3 quarters, which is cumulative of Q2, Q3, Q4 because I think you had some problems in Q1, the volumes have not exactly grown. On a full year basis, the total number of loans disbursed are flat. And in home loans, in fact, you've declined on a Y-o-Y basis in terms of volume. What are you doing to improve that? Because I see that your employee base has expanded, your branch network has expanded and still the volumes are down. I just want to get some sense of that.
Understood. So, as you're saying that your volumes should increase and volumes, either per person or on a per branch basis should increase, ideally that should lead to better cost absorption, right, from a unit cost economics point of view.
Aavas Financiers Limited CC-Jun25.pdf · 2025-08-12
I have 2 questions. One, I noticed that your employees per branch, that number has been going up since last 2 quarters, which is leading to higher growth in employee expenses also. So, I wanted to understand what is your strategy in terms of branch staffing and why have we increased people at the branches in the last 2, 3 quarters? That's my first question. And then my other question, in this same backdrop, how do you continue to deliver on opex efficiency because now you're saying 18%, 20% AUM growth but with probably a higher employee base? Those are my 2 specific questions.
Sorry to interject you, but I've been looking at this trend of employees per branch, which is a simple calculation of employees divided by branches, whereas some quarters ago, that number used to be, say, 15 -16, now it has come up to 18. And hence, the question on employees increase in our branches.
Aavas Financiers Limited CC-Mar25.pdf · 2025-04-24
Sir. Hi. Good evening and Congrats on this quarter’s results. I have 2 questions. One is your home loan disbursement for the quarter are about 3% lower compared to last year. Why is that the case because you've tightened your underwriting criteria? If that's the case, then can you indicate to what extent have your approval ratio come down. That's my first question.
Thank you. Sir. Bringing back to my second question, I think it has been partly answered previously. In the last 6-7 years, Barring the COVID year, you'll usually see net recoveries in the 4th quarter, but this time, there was a slippage, a minor one. Also, when you look at the stock of GNPA in the 4th quarter, it’s usually lower by about 5–10% Q-o-Q. This time it's actually marginally up. Can you please talk if there are any collection issues or repayment issues which you are facing or maybe at the industry level, and for what reasons?
Aavas Financiers Limited CC-Dec24.pdf · 2025-01-30
Okay. I had my first question where I want to understand a bit more on sourcing part. So, has your DSA sourcing gone up? Or if you can give us a number, say, compared to last quarter or last year. The reason I ask is that after several quarters, the number of loan files disbursed per branch, that has registered a positive growth rate. Otherwise, if I look at last few quarters, then it was mostly a declining trend. And at the same time, when I look at some of the cost economics metrics, such as opex per new file disbursed, that has also declined. So what is leading to such improvement. Is it because of higher sourcing from DSA channel?
Understood. So, I think say you are about, I think, 12 files per branch per month. Is this a run rate that one can assume going forward at least the first 9 months of a fiscal? I know Q4 generally tends to be higher. But at least for the first 9 months, is 12 files disbursement per branch, is that something that we can work with?

Shriram Finance Limited

Shriram Finance Limited CC-Jul25.pdf · 2025-07-25
Sir, hi, good evening. I had some three-four questions. First is on the MSME growth plan. I see that your quarter -on-quarter growth has come down to 3.5 %-4%. And there is a sudden moderation in MSME business accretion this quarter. You've been guiding for around 15% growth overall. So, my first question is, why is there sudden accretion? Why is there sudden slowdown in the MSME growth this quar ter? And then the other question is, assuming that or analyzing this quarter, the run rate on MSME growth, do you see a risk to your full year AUM growth estimates, on an overall basis?
Sir, if I compare this to the quarter -on-quarter accretion, in say 1Q FY'25, at that time it was about 10% in this book, and this time it's 4%. And hence the question, because the growth rate, sequential accretion has more than halved.
Shriram Finance Limited CC-Dec24.pdf · 2025-01-24
Sir, hi, good evening and thanks for the opportunity. Just to harp on this again, so what levels would you bring back the liquidity? So when I look at the cash and investments share percentage of assets, it's been increasing for last couple of quarters and it seems more in-line with historical trends that you've had. So if you can guide to a number as to how much can it come down? Will it be a significant number?
Understood. My next question is with respect to asset quality. So what has seen in since the commercial vehicle segment is that the quarter -on-quarter increase in stage 3 assets has been significant, it's about 5%, 6% compared to the run -rate that you had in previous quarters it’s about 1% to 2%. Why is it that the increase has been so sharp in this quarter? Any specific reasons that you can point to?

Home First Finance Company India Limited

Home First Finance Company India Limited CC-Mar25.pdf · 2025-05-02
Congrats on the quarter and capital raise. I have three questions. One is on the employee part . You hired a lot of people in FY25. The employee base is up some 31%. This is highest growth in any of the last 4 to 5 years. What are your hiring plans for FY26? Will you continue at this rate or will the hiring tone down materially compared to 31% growth rate in FY25? Let me also ask my second question, which is connected to the first one. Historically, you have not seen such a dip in 4Q employee base. This time, it is around 4% lower quarter-on-quarter. I understand that employee attrition has been a challenge for the sector in general. In this backdrop, how was attrition in FY25 and what do you expect for FY26 on the attrition part?
And you expect that attrition would continue to come down even in FY26? Is that the expectation right now?
Home First Finance Company India Limited CC-Sep24.pdf · 2024-10-25
Congrats on the results. I have three questions. One is, can you give some sense on whether the balance transfer request this quarter were relatively on the higher side versus maybe what you would have seen in the previous few quarters of last year? And also, if you can give some sense on what percentage of the BT requests were retained by you as compared to last time? Any broad sense would do? Just trying to understand the competitive intensity here for you. That's my first question.
What I was trying to understand was that you've taken a PLR hike in this quarter, right, 2/3 of which has been passed on. And despite that, what I see is that the origination yields are flat. So, just correlating as to whether the incremental yields being flat here. Does it mean that you may have passed on some kind of benefit to the customer? And as a result of that, you may have been able to control the BT for you?

Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited CC-Mar25.pdf · 2025-04-22
Thanks for the opportunity. My first question is on asset quality. So I see that the slippages, they continue to be higher versus last year fourth quarter. They're up about 63% for the quarter and about 70% for the year. Can you highlight what are some of the challenges that you face d in the fourth quarter with respect to, say, collections? And another question is, how are you looking at FY '26 with respect to asset quality outcomes? That's my first question.
Sure. My other question was on the pre -owned disbursements. So they've been declining, right? Just wanted to understand that a little bit more as to what has happened there. That is a focus area -- that has been a focus area for you, right? But disbursements have declined. So, I just wanted to get some color there. And I think the third question is on funding cost benefit from the 50-basis points rate cut. You may have answered that partly. But if you could just give us some number in terms of, say, whether it's a 20, 30, 40 bps benefit that you would get on the funding cost from a 50- basis points rate cut. That's all from my side.

Muthoot Finance Limited

Muthoot Finance Limited CC-Jun24.pdf · 2024-08-13
Hi. Thanks for the opportunity, sir. Just one question from my side in terms of bank competition, in the past, we've observed that there has been some utilization of the interest subvention subsidiary from banks, which is one of the reasons why they were a ble to give lower rates on gold loan. Another thing is that also very recently one of the largest PSU banks said that they were turning down on Agri gold loan. So just kind of the two, three things. Is that the reason why banks have toned out their gold loan effort? I think in the past, you have also commented at some point in time that banks were not really playing a fair game. Just some of your observations or commentary on that will be very useful.
Understood. And sir, another question, when I look at the data, clearly, you've gained quite a bit of market share in this quarter. Can you provide any insight in terms of what percentage of your customers which were acquired this quarter? They were earlie r taking loans from, say, another gold loan lender. Is that a data point that you would have handy?

Bajaj Housing Finance Limited

Bajaj Housing Finance Limited CC-Dec24.pdf · 2025-01-27
I have three questions. So one is on the retail segment disbursements . Ca n you give us the absolute number of retail disbursements that was there? And then what was the growth on YOY basis and Q-on-Q basis in retail disbursements? And then another part of that question is that within retail, what was the growth in the home loan disbursements?
But last quarter, you had indicated about 7% retail disbursements growth. Can you give a comparable number to that for this quarter?

IIFL Finance Limited

LIC Housing Finance Limited

LIC Housing Finance Limited CC-Jun24.pdf · 2024-08-05
Sir, most of my questions have been answered. I just wanted one clarification. You had mentioned that there was about INR230 crores of NPA recovery in 4Q. And out of that, I think about INR90-100 crores was a one-off. So is it fair to assume that the 130, 140 a steady state run rate for you in terms of recovery of the quarter from the retail pool?
Understood, sir. But if we adjust -- if we look at the adjusted net interest margin, adjusted for INR230 crores last quarter, INR90 crores for this quarter, there is still about 20 basis points decline in the margins in the quarter.

Five-Star Business Finance Limited

Five-Star Business Finance Limited CC-Jun24.pdf · 2024-08-01
I have a few questions. So, one is, you know, on the business officers side, I see that the addition to business officers is nearly flat this quarter whereas in the last several quarters, you seem to have beat it up. So, what's the thought process here behind no addition of these officers? Is it that you hired a lot in the last four, five, six quarters and you want to utilize that capacity first? That's my first question.
So, that is why it is leading to say higher number of accounts being handled for and you got impact, right, just the segregation of branches in terms of new branches and the cluster expansion.