Stockrabit · Analysts
Questions across 59 calls

Rajiv Mehta

YES Securities

Aptus Value Housing Finance India Limited

Aptus Value Housing Finance India Limited CC-Jun24.pdf · 2024-08-02
Congrats on good numbers. Now, my question is on disbursements. So, what we saw in May and June was a very good comeback. But as a run rate, are we running on that momentum in July to start off with this quarter? And whether can you look forward to, say, maybe Rs. 1,000 crore disbursement coming in second quarter?
And just one question is on cost of funds and spreads. I mean, if you can elaborate on the trends in incremental cost of funds and how do you see it going in the coming months, and hence, how should we look at spreads?

Five-Star Business Finance Limited

Five-Star Business Finance Limited CC-Jun24.pdf · 2024-08-01
Sir, you've spoken about July collection trends being better than June. So, is it better in across buckets, I mean, is it better in regular bucket as well as in the delinquent buckets of 30-60, 60-90 as well when compared to June?
Sir, just taking forward one comment that you made that typically in a stressed situation, the household prioritizes repaying you versus their unsecured loans. So, first is the categorization of those loans will be current with us, but in the current portfolio, what proportion of our customers would have a default on their unsecured line, but are current with us, do we track them differently?

Can Fin Homes Limited

Can Fin Homes Limited CC-Jun24.pdf · 2024-07-22
Sir, my question is on growth and our guidance. So when I look at the Annual Report also, which was published in July, it is mentioning about reaching INR 41,000 crores loan book by March '25, and that is about 16%, 17% growth on last year's March base. And with this disbursement target of INR 10,500 crores, can we reach this number, or this is more of an aspirational number?
Got it. And sir, I also see that the portfolio yield has impr oved by 5 basis points on sequential basis. So I believe that the incremental disbursement yield is lower than the portfolio yield. So something has repriced in the back book, so what is this repricing happening and can such repricing benefit still continue on the back book in the coming quarters?
Can Fin Homes Limited CC-Mar24.pdf · 2024-04-30
Congratulations on strong result. Two questions. Sir, firstly, what is the disbursement target and VP outrate assumed in your AUM forecast of 15% for FY '25?
How should we look at this 15% growth guidance? I s it just for FY '25 because we're still adjusting to the new processes and that we are going to have some take system changes in FY '25 as well as we are developing the new housing channel? And then FY going into FY '26, would our aspirations of growth change?

CREDITACCESS GRAMEEN LIMITED

CREDITACCESS GRAMEEN LIMITED CC-Jun24.pdf · 2024-07-19
I have a couple of questions, Sir, first question is, as we're defining this increase in delinquencies as temporary, have you already seen improvement in fresh PAR accretion in June and July or conversely if you can share whether there has been improvement in the collection efficiency of June and July so far?
And sir, you have mentioned about strengthening of the ECL provisioning policy in first quarter and you have aligned your provisioning rates on districts versus states earlier and also along with the customer vintage. But when I look at the ECL coverage on stan dard loans with the stage 1 loans, it remains the same. So, incrementally as the growth picks up in the remaining quarters , would this ECL coverage percentage increase because more and more growth will come from the newer geographies?
CREDITACCESS GRAMEEN LIMITED CC-Dec23.pdf · 2024-01-19
Yes, hi sir. Congratulations on the good numbers. And thank you for taking my question. Firstly, sir, thank you for giving a very granular disclosure on asset quality in the PAR movement. My first question is, given that the PAR situation is fast normalizing in the impacted districts of Tamil Nadu, would it be right to presume that our collection efficiency, which had dipped , and credit costs which slightly spiked in Q3, should normalize or should come back to Q1, Q2 levels in Q4, if all the other reasons hold up?
Okay. And sir, also, now that you have implemented the CBS upgrade, can you quantify the efficiency increase post this? Maybe in terms of business or terms disbursement run rate, for the same branches and same LOs, does the disbursement capacity go up by 5%, 10%, 15% more? Does it have any effect like that?
CREDITACCESS GRAMEEN LIMITED CC-Sep23.pdf · 2023-10-20
Sir congratulations on a very good s et of numbers , my question is on credit cost guidance s o when I look at you have maintained your credit cost guidance but when I look at the collection efficiency excluding arrears it is at 98.7% on the whole portfolio, your PAR 30 number is also small, your buckets are even smaller and you are carrying good provisions on stage two and stage three assets. Could we have not lowered the credit cost guidance or are you expecting that collection efficiency may not hold up?
From the collection efficiency being reported on the whole portfolio ex of arrears being 98.7% was implying that the flows going into stage two and stage three are a lso less and which is why the requirement?

Manappuram Finance Limited

Manappuram Finance Limited CC-Mar24.pdf · 2024-05-24
Hi, good evening. Congrats on good quarter. Sir, firstly on this impact on restrictions on cash disbursements while you spoke about not seeing any long business impact, but since when the restriction has come , what has been the impact on a daily disbursement run rate? How much our daily disbursement run rate has fallen by? And in the longer term wouldn't we see any structural customer loss customers going back to informal players if some of the customers are not willing to share the bank details?
Got it. And now sir, the impact of higher gold price. So gold prices have gone up significantly. So how do you see this benefiting our growth in the next two quarters. See if you look at our LTV, the LTVs have fallen to 58%. So , if you can tell us your expectation, where would the LTV settle in the next one, two quarters? Would it go back to 65%, 63% because of customers availing the benefit of higher gold prices. Can you comment on the positive effect of higher gold prices in your growth?
Manappuram Finance Limited CC-Sep23.pdf · 2023-11-13
Yes. Hi. Congratulations on good numbers and thank you for giving me the opportunity. So my first question is on gold loan growth. So we are talking about pricing discipline and we have seen our yields also improving the last two quarters. So with this kind of pricing discipline, what kind of growth we can expect coming through? And for that kind of growth, what kind of actions are we taking on the ground in terms of more advertising, client outreach, old client reactivation? Can you just show more light? Because I can see that the new customer acquisition n umber has been pretty stable over the past two quarters. And, is there a plan to accelerate that number and stop the attrition?
And sir, when you say momentum, are we looking at annual growth of 7%, 8% every year?

LIC Housing Finance Limited

LIC Housing Finance Limited CC-Mar24.pdf · 2024-05-16
Congratulations on a strong performance. So I have a few questions. So Sudipto, first, on this incremental cost of fund being 7.9% and the stock cost of fund being 7.76%. Would this understanding be correct that the stock cost of fund may not go to increme ntal cost of fund because you may, even in the future, renegotiate on the current borrowings?
Okay. Got that. And on this senior management personnel appointments, I think I see you appointed 5 GMs and 4 regional managers. So is it augmentation of the senior management team, operational management? Or is it the replacement of people who have gone? Can you give more color on that?

Home First Finance Company India Limited

Home First Finance Company India Limited CC-Mar24.pdf · 2024-05-09
First question is on the origination yield ex of co-lending. That has come down by 30 basis points quarter-on-quarter. And the second is the AUM shift in this quarter towards more than 1.5 million loan ticket has been pretty accelerated. And this is also ex of co-lending. If you remove the impact of co-lending, the shift is pretty significant. What is driving this?
And the second question is on Gujarat, which is a key market. Incrementally, there has been a growth slowdown in Gujarat. So , when I calculate the growth Q -on-Q has been around 4.5%, 5% this quarter versus 6%, 7%, 8% in the previous quarter. So , the slowdown which we have seen in this quarter in Gujarat, is it linked to competition what we have? Is it that the higher amounts of BT Out are happening in Gujarat because it's slightly more mature market for us. Or whether if there is any market slowdown happening in Gujarat.
Home First Finance Company India Limited CC-Dec23.pdf · 2024-01-19
Manoj, how should we read the persistence of BT pressure which is reflecting in both BT Out remaining higher than trend and the pressure on the back book yield because of repricing of BT requests? And also when I look at your incremental lending rate, the origination yield, it has been pretty stable over the past few quarters and we haven't been able to fully pass on the increase in the incremental cost of borrowing. So, can you comment on both these things in the context of the competitive intensity?
Nutan, just to clarify the origination yield which you put out in the presentation, that is excluding the co-lending yield, right? That's what you're saying?

Cholamandalam Investment and Finance Company Limited

Aavas Financiers Limited

Aavas Financiers Limited CC-Mar24.pdf · 2024-04-25
Congratulations on very strong numbers. The first question is, what is the branch addition plan for FY’25 which will be targeted market?
And one related question is, I mean, do you feel that the need for branch addition is slightly lower in the coming years, because after this tech tran sformation, the capacity of the existing branches and locations would have gone up, your TAT has improved, you ’ll have more efficiencies coming through from the existing branches. And secondly also, you are also developing a lot of non -brand per say around the existing location. Is that the thought process when you make your branch addition plan?

CRISIL Limited

CRISIL Limited CC-Mar24.pdf · 2024-04-19
Yes, hi. Good evening and thank you for giving the opportunity. My first question is on the GBA business. So can we comment on sustainability of growth witnessed in GBA business despite the challenging macro? And how is the business pipeline? See, I'm trying to check whether there was any lagged positive impact of any business one in the preceding quarter and hence Q1 looked pretty good for us. So, if you can just give us color, whether we can sustain the kind of growth momentum we saw in fourth quarter?
Okay. And would it be possible to call out the service lines in GR and RS business, which have seen the impact of slowdown in discretionary spending?

Muthoot Finance Limited

Shriram Finance Limited

Shriram Finance Limited CC-Sep23.pdf · 2023-10-26
Sir, first question is on very strong consist ent growth in used passenger vehicle portfolio, and now can you reason the growth, or can you give more color with respect to what kind of vehicles in this portfolio, which models are growing faster? And secondly, what is the nature of demand? Is it more replacement in nature or is it fleet addition? And thirdly, if you can also call out the role of what is the value of growth versus volume growth in this portfolio?
And sir, even MSME growth has been growing, the growth has been pretty strong, I know that we have been gradually, our strategy has been to take it to the erstwhile Shriram Transport branches for cross sell, so can you call out what has been the additional growth because of cross sell that we are starting to see that is number one? And whether is there any role of ticket size increase in this growth being reported?