Non-banking Financial Company Choice International announced Q1FY24 results: Q1FY24 v/s. Q1FY23: Total revenue of Rs 139.3 crore vs Rs 78.7 crore, up 77% YoY EBITDA of Rs 37.6 crore vs Rs 17.6 crore, up 114% YoY. EBITDA margins of 27% vs 22.3% PAT of Rs 21.3 crore vs Rs 7.7 crore, up 177% YoY. PAT margins of 15.3% v/s 9.8% Revenue contribution of 59% Stock Broking, 28% Advisory and 13% NBFC Q1FY24 v/s. Q4FY23: Total revenue of Rs 139.3 crore vs Rs 139.5 crore, down 0.14% QoQ EBITDA of Rs 37.6 crore vs Rs 47.4 crore, down 20.7% QoQ. EBITDA margins of 27% vs 34% PAT of Rs 21.3 crore vs Rs 30.3 crore, down 29.7% QoQ. PAT margins of 15.3% vs 21.7% The number of demat accounts increased by over 29% YoY to 721k AUM for stock broking stood at Rs 32,200 crore, higher by 102% YoY AUM for mutual funds stood at Rs 405.4 crore, a surge of 28% YoY Monthly SIP book increased by 53% YoY to Rs 5.2 crore Insurance premium generated Rs 33.8 crore, an increase of 186% YoY Loan book at the end of Q1FY24 stood at Rs 415.2 crore. Retail Loan Book for Q1FY24 stood at Rs 148.4 crore Net Non-Performing assets (NNPA) as on June 30, 2023, is 0.27% Advisory segment generated revenues of Rs 39.4 crore with an order book of Rs 527 crore Result PDF
Finance firm Choice International announced Q4FY23 & FY23 results: Consolidated Q4FY23: Total Revenue of Rs 1,395 million v/s Rs 934 million [Up 49%] EBITDA of Rs 474 million v/s Rs 274 million [Up 73%]. EBITDA Margins of 34% v/s 29.3% PAT of Rs 303 million v/s Rs 154 million [Up 97%]. PAT Margins of 21.7% v/s 16.5% Revenue contribution of 58% Stock Broking, 32% Advisory and 10% NBFC Consolidated FY23: Total Revenue of Rs 3,952 million v/s Rs 2,860 million [Up 38%] EBITDA of Rs 1,087 million v/s Rs 923 million [Up 7.7%]. EBITDA Margins of 27.5% v/s 32% PAT of Rs 601 million v/s Rs 536 million [Up12.1%]. PAT Margins of 15.2% v/s 18.7% Result PDF
Banking and Finance firm Choice International announced Q3FY23 results: Q3FY23 vs Q3FY22: Total Revenue of Rs 984 million v/s Rs 677 million [up 45%]. EBITDA of Rs 263 million v/s Rs 224 million [up 17%]. EBITDA margins of 26.7% v/s 33.1%. PAT of Rs 139 million v/s Rs 136 million [up 2%]. PAT margins of 14.1% v/s 20.1%. Revenue contribution of 65% Stock Broking, 21% Advisory and 14% NBFC. Key highlights: Number of Demat Accounts increased by over 91% YoY to 640K AUM for stock broking stood at Rs 206 billion, higher by 19% YoY AUM for mutual funds stood at Rs 3,630 million, surge of 11% YoY Monthly SIP book increased by 43% to Rs 40 million Insurance premium generated Rs 96 million an increase of 63% YoY Loan book at the end of Q3FY23 stood at Rs 3,235 million Net Non-Performing assets (NNPA) as on 31st Dec, 2022 is 0.01% Advisory segment generated revenues of Rs 207 million with an order book of Rs 3.44 billion Commenting on the Q3 FY23 performance Mr. Kamal Poddar, Managing Director said: As we enter the final quarter of the year, we are pleased to report that Choice continues to perform well and meet its financial targets. Our revenue for the year is on track to exceed expectations. Choice has delivered revenue of Rs 984 Mn, which represents a growth of 45% compared to the same quarter last year. Our consolidated EBITDA and PAT for Q3 FY23 was Rs 263 Mn and Rs 139 Mn respectively. During the quarter, we have issued 900K+ Employee Stock Ownership Plan (ESOPs) to eligible employees. This is a significant step in our commitment to align the interests of our employees with those of the company, and to provide a meaningful stake in the long-term success of the organization. We believe that this will lead to increased engagement and motivation among our workforce, and ultimately drive better performance and growth for the company. During the quarter we continued to gain significant market share across Broking and Distribution business. In our Broking business, Average Daily Turnover (ADTO) has grown to Rs 7.4 Bn in Q3 FY23. Choice International is presently ranked 15th by NSE’s active (UCC) list. We have transformed Jiffy App into a Super App Choice FinX, offering users the ability to leverage and easily invest in a variety of financial instruments all in one place. With cutting-edge technology it provides a simplified investing experience for users. In our Mutual Fund Distribution business, customer AUM for mutual funds increased by 11% to Rs 3,630 Mn compared to the same quarter last year. Choice Insurance Broking generated insurance premium of Rs 96 Mn, a growth of 63% on YoY. The Digital Lending Loan book of our NBFC surged 2.6 times during the quarter to Rs 532 Mn bringing the total loan book to Rs 3.24 Bn. Furthermore, our Choice FinX and Choice Money continues to show strong customer interest across the financial services industry. In the Advisory business, during the quarter, we have been once again awarded the contract under the Jal Jeevan Mission (JJM). Our Advisory business generated Rs 209 Mn in revenue with order book of Rs 3.44 Bn in Q3 FY23. As we move forward, our commitment towards excellence and growth remains unchanged. We will continue to prioritize customer satisfaction and innovation, while also seeking out new opportunities for expansion and diversification in India. With favourable demography, robust economy, and supportive government policies, the potential for success and value creation for our shareholders will be tremendous. Result PDF
NBFC firm Choice International announced Q2FY23 results: Consolidated H1 FY23: Revenue growth of 25.9% YoY to Rs.1,572 million EBITDA of Rs. 350 million; Margin of 22.24% Net Profit of Rs.159 million; Margin of 10.12% Revenue contribution of 66.98% Broking and Distribution, 20.78% Advisory and 12.24% NBFC Consolidated Q2 FY23: Revenue growth of 24% YoY to Rs. 785 million EBITDA of Rs. 174 million; Margin of 22.1% Net Profit of Rs. 82 million; Margin of 10.5% Revenue contribution of 72% Broking and Distribution, 15% Advisory and 13% NBFC Mr. Kamal Poddar, Managing Director said: "We are delighted to announce Q2 FY23 Revenues of Rs.785 million, which represents a growth of 24% compared to same quarter last year. Our consolidated EBITDA and PAT for Q2 FY23 was Rs.174 million and Rs.82 million respectively. The Broking Services’ Revenue and PAT grew by 17% and 40% on QoQ basis respectively. This robust revenue growth trajectory is a reflection of Choice’s ability to consistently innovate digitally in line with our growing customer base requirements. Furthermore, we have a successful track record of developing financial products to service rural and semi-urban populations and bridging the financial gap. Our technology focused approach not only allows us to deliver consistent revenue growth but also enhances customer retention and lower customer acquisition cost. This quarter we have onboarded 2,500+ Choice Business Associates which takes our total headcount to 28K associates. During the quarter we continued to gain significant market share across Broking and Distribution business. In our Stock Broking business, Average Daily Turnover (ADTO) has grown by 10% QoQ to Rs 8.72 billion in Q2FY23. The total number of our Demat accounts increased by 31% in the last six months with an increase in number of active clients by 146% in the last one year. Choice is ranked 15th by National Stock Exchange’s active (UCC) list. Our financial platforms coupled with our distribution network have enabled us to become a family of over 669K clients and growing. In our Mutual Fund Distribution business, customer AUM increased by 124% to Rs.3,514 million compared to the same quarter last year. We generated insurance premium of Rs.121 million, a growth of 124% on YoY basis. During the quarter, we partnered with Government of Maharashtra under the Gopinath Munde Shetakari Accident Insurance Scheme to settle insurance claims. We are proud to announce that under the scheme, we will be serving over 3 crore farmers in Maharashtra, which is in line with our vision of meeting the requirements of the underserved population of India. Overall, Choice’s businesses are supported by the favourable Indian demography, rapid growth of the Indian economy, eased monetary and fiscal policies and other favourable policies by the Indian government. These factors will further generate multiple opportunities for us going forward and creating shareholder value". Result PDF
Finance firm Choice International announced Q1FY23 Result : Q1 Revenue grows by 24.1% YoY Retail lending recorded 22.3 Mn digital lending loan book within 15 days of launch Revenue Growth of 24.1% YoY to Rs. 745 Mn EBITDA of Rs. 176 Mn; Margin of 22.3% Net Profit of Rs. 77 Mn; Margin of 9.8% 61% revenue share form broking service compared to 27% from Advisory and 12% from NBFC Commenting on the initiative, Mr. Kamal Poddar, Managing Director said: “Building on our stellar performance during FY22, we recorded a strong start of the fiscal year 2023. We at Choice are confident of continuing our growth journey driven by our resilient business model due to the diverse nature of our business. I am glad to showcase our achievement during the Q1 FY23. Customer confidence on Choice broking service continued to remain strong reflected through increase in number of Demat accounts by 21% and number of Active clients by 7.5%, on QoQ basis. Choice ranked 16th as per NSE’s active UCC list. Further to this assets held by our stock broking clients increased to Rs. 160 bn a growth of over 80% YoY. Similarly, AUM for mutual funds stood at Rs. 3,176 mn. We generated insurance premium of Rs 118 mn, a growth of 99% YoY. NBFC business was one of our prime focuses during the quarter and we continue to build a strong team to facilitate our transformation from institutional lending to retail lending which is expected to be one of primary driver for future growth. We started digital lending for retail during the quarter with a focus on Tier 3-5 cities, which received a very encouraging initial response. Our retail Loan book stood at Rs 22.3 Mn within the first 15 days of launch. During the quarter our total Loan Book grew by 13% YoY to Rs. 3.22 Bn. The execution of Jal Jeevan mission project during the quarter was in line with our expectation, which is part of our Advisory business. During the quarter we experienced growth of 25% YoY for this segment to Rs. 207 mn. During the quarter, our revenue recorded a robust growth of 24.1% to Rs. 745 Mn and expect this growth trajectory to continue going forward. Our consolidated EBITDA and PAT for Q1 FY23 was Rs. 176 mn and Rs. 77 mn, respectively. Our consolidated margins during the quarter were impacted due to higher cost on account of launch of new retail lending business during the quarter, we expect the margins to normalize on full year basis. “ Result PDF
Finance (Including NBFCs) firm Choice International declares Q4FY22 result: FY22 Revenue and PAT Growth of 61% and 221%, respectively. Active customers growth of 3.75x with doubling of demat accounts FY22 Financial Highlights Revenue Growth of 61% YoY to Rs. 2,860 Mn EBITDA growth of 123% YoY to Rs 923 Mn; Margins expanded to 32.3% from 23.5% Net Profit growth of 221% YoY to Rs. 536 mn; Margins of improved to 18.7% from 9.5% Revenue share of 63% from Broking & Distribution services, 14 % from NBFC, 23% from Advisory Services Q4 FY22 Financial Highlights Revenue Growth of 79% YoY to Rs. 934 Mn EBITDA growth of 244% YoY to Rs. 274 mn; Margins expanded to 29.3% from 15.3% Net Profit growth of 545% YoY to Rs. 154 Mn; Margins improved to 16.5% from 4.6% Commenting on the initiative, Mr. Kamal Poddar, Managing Director said: “Our Performance across business remained robust during the year with top line growth of 61% and PAT growth of 221% during FY22. This was driven by our efforts towards financial inclusion by reaching and expanding our presence across tier 3 and tier 4 cities. We moved to 16th position on NSE as per NSE active users list with 3.75x increase in our active customers during the year supported by almost doubling of our demat accounts to 4,63,000. AUM for mutual funds also increased by 2.8x to Rs. 326.3 Mn during the year. We have expanded our NBFC team by 93 employees and loan book size by 32% YoY to 3.26Bn from Rs. 2.46 bn in FY22. Our Advisory business won multiple contracts worth over Rs. 1 bn, further validating our expertise in executing and delivering projects over time. Going forward we will be focused on our goal of financial inclusion and reaching further towards villages, tier 4 and tier 5 cities along with improving service quality and effectiveness. We have been consistent in delivering superior results over the years and will continue to do so by leading and catering to the underserved market. “ Result PDF