Suryoday Small Finance Bank Results Earnings Call for Q4FY23
Conference Call with Suryoday Small Finance Bank Ltd. Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.16-05-2023
16-05-2023
FY23 Annual Result Announced for Suryoday Small Finance Bank Ltd.
Suryoday Small Finance Bank announced FY23 results: Net interest income stood at Rs 746.6 crore as compared to Rs 584.5 crore, an increase of 27.7% YoY Net total income stood at Rs 844.0 crore as compared to Rs 678.0 crore, an increase of 24.5% YoY Our cost of funds for FY23 reduced to 6.7% compared to 7.0% in FY22 Cost to income stood at 60.0% as compared to 60.9% in FY22, Cost to income ratio for FY23 has been adjusted for adjusted for one time ARC related provision of Rs 21.5 crore Pre-Provisioning Operating Profit stood at Rs 337.5 crore (adjusted for one time ARC related provision of Rs 21.5 crore) crore as compared to Rs 264.9 crore an increase of 27.4% YoY Gross NPA stood at 3.1% (FY22 - 11.8%) Net NPA stood at 1.5% (FY22 - 5.9%) Provision coverage ratio (excluding technical write offs) stood at 51.5% (FY22 - 55.6%) CRAR of the Bank stood at 33.7%; Tier I capital of 30.8% and Tier II capital of 2.9% (FY22 - 37.9%) Commenting on the performance, Mr. Baskar Babu, MD & CEO, Suryoday Small Finance Bank, said: “FY23 marked the first normalized year post-COVID, witnessing a significant rebound in the overall economy. The bank's Gross Advances in FY23 crossed Rs 6,000 Crores, with the Vikas Loan Portfolio crossing Rs 1,200 Crores. Vikas Loan is the bank's flagship product in unsecured business loans offered to the bank’s existing graduating JLG customers, driven by increased government support for nurturing MSME growth. Consequently, the AUM of the Vikas Loan grew to Rs 1,232 crores in FY23 from Rs 213 crores, while the customer base for the same grew over 2.5 times to ~1.9 lakh customeRs The bank has experienced remarkable improvement in Gross Non-Performing Assets (GNPA), which reduced to 3.1% in FY23 from 11.8% in FY22, and Net Non-Performing Assets (NNPA), which decreased to 1.5% in FY23 from 5.9% in FY22. The bank is confident of maintaining GNPA of less than 2% and NNPA of less than 1%. The bank's collection efficiency, as of FY23, stands at 102.2%. Furthermore, we have achieved a Profit After Tax of Rs 77.7 crores in FY23, a significant improvement from the loss of Rs 93.0 crores in FY22. In terms of disbursement, the bank’s disbursements for FY23 stood at Rs 5,083 crores, a 44.1% increase from Rs 3,528 crores in FY22. Additionally, Gross Advances grew from Rs 5,063 crores in FY22 to Rs 6,114 crores in FY23, representing a 20.8% increase (Adjusted for ARC Rs 6,541 crores with growth of 29.2%). These numbers indicate that our AUM, disbursements and profitability have returned to pre-COVID levels, driven by the revival of the overall economy, strong on-ground demand, and increased geographical presence. Looking ahead to FY24, the bank aims to focus on growing Gross Advances by ~30%, Deposits by ~35%, achieving a Return on Assets (ROA) of ~2.2%, and a Return on Equity (ROE) of ~15%. Operationally, our key areas of focus include product diversification, maintaining GNPA level below 2.0% and NNPA level below 0.5%, leveraging digital initiatives through multiple apps, taking CGFMU cover for JLG and Vikas Loan, building a Vikas loan book of ~Rs 2,000 crores and expanding our branch network.” Result PDF16-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation on Audited Financial Results of Suryoday Small Finance Bank Limited for the quarter (Q4) and financial year ended March 31, 202315-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release on Audited Financial Results of Suryoday Small Finance Bank Limited for the quarter (Q4) and financial year ended March 31, 2023 - Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201515-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Board Meeting Outcome for Approval Of The Audited Financial Results Of The Bank For The Quarter (Q4) And Financial Year Ended March 31, 2023
Please find enclosed herewith Outcome of meeting of the Board of Directors of Suryoday Small Finance Bank Limited held on May 15, 2023 - Approval of the Audited Financial Results of the Bank for the quarter (Q4) and financial year ended March 31, 2023. A copy of Press Release and the Investor Presentation relating to the Conference call on the abovementioned Audited Financial Results of the Bank would be submitted separately.15-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Approval Of The Audited Financial Results Of The Bank For The Quarter (Q4) And Financial Year Ended March 31, 2023.
Please find enclosed herewith Outcome of meeting of the Board of Directors of Suryoday Small Finance Bank Limited held on May 15, 2023 - Approval of the Audited Financial Results of the Bank for the quarter (Q4) and financial year ended March 31, 2023. A copy of Press Release and the Investor Presentation relating to the Conference call on the abovementioned Audited Financial Results of the Bank would be submitted separately.15-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of Conference Call to discuss Financial Results of the Bank for the quarter and financial year ended March 31, 202309-05-2023
Suryoday Small Finance Bank Ltd - 543279 - Board Meeting Intimation for Intimation Of The Date Of Meeting Of The Board Of Directors Of The Bank
Suryoday Small Finance Bank Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 15/05/2023 ,inter alia, to consider and approve Pursuant to Regulation 29, 50 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting of the Board of Directors of the Bank will be held on Monday, May 15, 2023, to inter alia, consider and approve the Audited Financial Results of the Bank for the quarter (Q4) and financial year ended March 31, 2023.27-04-2023