Conference Call with Dr Reddy's Management and Analysts on Q4FY20 and Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Dr Reddy's Management and Analysts on Q4FY20 and Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Maruti Suzuki Management and Analysts on Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Leading the call: CFO Ajay Seth with Key Highlights
Production and sales re-started in a small way in the month of May after the lockdown. The company has implemented stringent controls over and above the government's guidelines as people come back to work
We adopted work from home wherever possible. Specific measures for vendors and dealers were also identified and implemented.
We have worked to ensure minimal touchpoints and maximising digital touchpoints for customers. We are also providing vehicle repair services at their doorsteps.
Some of our suppliers faced significant financial issues on account of the lockdown. Maruti provided cash flow support to ensure that they were able to pay salaries and meet their obligations.
We saw demand recovery post lockdown, and we used that to clear out inventory from stores. Challenges remain in managing supply and deliver vehicles at dealership.
It is too quick to answer whether the demand we are seeing today is real or pent-up demand.
Q1FY21 is not comparable to the previous year's quarters due to the lockdown's impact on our operations, and social distancing restrictions still in place. The company sold a total of 76,599 vehicles during the quarter, with 67,027 units in the domestic market and 9,572 units for exports. We registered net sales of Rs 36,775 mn, and a net loss of Rs. 2,494 mn in the quarter. This was offset by lower operating expenses and higher fair value gain on the invested surplus.
Conference Call with Management and Analysts on Q4FY20 and Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Castrol India Management and Analysts on Q2CY20 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with YES Bank Management and Analysts on Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Opening Remarks from Management
Our recent raise of Rs. 15,000 crore via FPO - the largest raise in India so far, which we did within four months. Capital adequacy ratio is now at 20%.
On the deposit side, during the quarter there has been a growth of 11.4% QoQ on the deposits side. Current account growth has been 26%. Shows a restoration of confidence. We have also been able to meet the LCR requirements. On 30th June our LCR was 114%. We have been able to return 50% ie 25,000 crore to RBI.
In operating profits - this now stands at Rs. 1,147 crore. That is11X of the profit we saw in Q4 of the previous financial year.
I believe we have to compare Q1 with our performance in the last financial year. Because of the reconstruction scheme of the bank, we believe a QoQ comparison is more appropriate compared to YoY.
We have increased provision coverage, from 73.8% to 75.1% of NPA. We have also added Covid related provisions, with Rs. 642 crore provisions and an additional Rs. 884 crore Covid provisions on the balance sheet. Our NPA has improved from 5.03% on 31st March to 4.9% on 30th June. GNPA % has increased from 16.8% to 17.0%. However in absolute terms there is a reduction.
The first quarter is typically weak, but despite the pandemic we are seeing a lot of positive signs, and significant progress on all fronts.
Conference Call with Indusind Bank Management and Analysts on Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
