Renish · ICICI
partialROA outlook for FY26 and FY27 given NIM and credit cost pressure.
We haven't guided for an ROA for FY26, and we reiterate our guidance of achieving 1.8% ROA for FY27.
AUBANK / Q1-FY26 / claim-ledger
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AU Small Finance Bank · Analyst questions, management answers, and the quality of the response where the ledger is available.
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What was answered, and how?
Renish · ICICI
directStress in UCV and CV vehicle financing segment details.
That used SCV and HCV book is about 6% of total Wheels asset. The trend started last year due to delayed CapEx and heavy rain. We took corrective measures and the book is performing well post that.
Suraj Das · Sundaram Mutual Fund
partialHas secured retail credit cost structurally increased to ~100 bps?
I would strongly advocate that these businesses go through cycles. We should expect a little bit elevated credit cost which may be in the range of 75, 80. Last year we thought 85, 90. In securitial asset you will see improvement maybe next year.
Kunal Shah · Citigroup
directWhat changed post last call to cause stress in MFI and southern mortgage?
Collection efficiencies in non-OD in microfinance were trending upward of 98.7% by March. It did not sustain in Q1. On southern mortgage, it was a granular book with differentiated yield at 18.5%. There was a transition of team.
Ashlesh Sonje · Kotak Securities
directLoan growth outlook for FY26 given stress in some segments.
We look forward to grow anywhere between 2 to 2.5 times of nominal GDP. Heavy lifting will be done by vehicle financing, commercial banking, and gold loans. Those can grow 20% to 25%.
Ashlesh Sonje · Kotak Securities
partialCredit card revolver book NPA potential and restated share.
In absolute term the credit cost has peaked. It would start coming down from this quarter onward. We know what pool is performing.
Param Subramanian · Investec
directWhy is other OpEx down YoY despite franchise growth?
There was a lot of internal focus around productivity and efficiency gains. We cut down cost expenses, rationalized digital marketing, and credit card issuances slowed down.
Param Subramanian · Investec
directIs retail secured credit cost increase purely from unsecured?
We were knowing that Q1, Q2 will remain elevated. In absolute amount the credit card cost is already peaked. MFI credit cost will peak in Q2. Everything else remains absolutely in shape.
Nitin Aggarwal · Motilal Oswal
partialMedium-term strategy for credit card business given high pain.
Credit card cost is giving more pain than MFI. Leadership change done. We have done correction in acquisition underwriting and collection. Idea is to control losses and come on BP first.
Nitin Aggarwal · Motilal Oswal
directCredit environment in vehicle financing and growth opportunities.
Wheels business is oldest, well-rounded. Environment is tough but growth strategy will help. We grew 26% this quarter. Team confident to achieve target without blowing up asset quality.
Pritesh Bumb · DAM Capital Advisors
directDoes 1.8% ROA for FY27 assume MFI credit cost of 2.5-3%?
By next year, entire MFI book will be covered under credit guarantee. Maximum credit cost should not be above 3-3.5%. Credit card business will be in better shape.
Bhavik Shah · InCred Capital
partialYield pressure in Wheels fixed rate book due to liquidity.
If there is liquidity available and no growth happening, then there would be a pressure on yield. By end of this year, there might be some pressure on yield.