Sunday, December 18, 2011
YES BANK= 2nd QTR FY 2012 RESULTS = Q/E SEP 2011 = IMPRESSIVE = NPT UP 33.34% YOY
QUARTERLY RESULTS FOR
Q2 ENDING SEPT 2011
YES BANK, as in the Past, has produced excellent set of Results for the second quarter ending Sept,2011. These results are analysed below :
Interest on Advances has increased to Rs.1031.77 Cr – which is 0.54% higher than Q1 FY12; 16.15% higher than Q4,FY11; 26.17% Higher than Q3 FY 11; and 42.28% higher than the corresponding Quarter of Q2 FY 11.
Income on Investments has increased to Rs. 398.07 Cr – higher by 9.13% from Q1 FY 12; higher by 21.76% from Q4 FY 11; Higher by 32.99% from Q3 FY 11; and Higher by 77.35% from corresponding Qtr of Q2 FY 11.
Interest Earned totally has increased to Rs.1438.65 – higher by 2.79% from Q1 FY 12; Higher by 17.67% from Q4 FY 11; Higher by 27.75% from Q3 FY 11; and Higher by 50.84% from corresponding Qtr of Q2 FY 11.
Net Interest Income (Earned – expended) has increased to Rs. 385.63 cr – higher by 8.88% from Q1 FY 12; Higher by 10.65% from Q4 FY 11; Higher by 19.33% from Q3 FY 11; Higher By 23.14% from corresponding Qtr of Q2 FY 11.
Total Income has increased to Rs.1652.70 cr – up by 5.62% from Q1 FY 12; by 17.27% from Q4 FY 11: By 28.33% from Q3 FY 11; and higher By 52.35% from Q2 FY 11.
Total Expenditure is Rs.1266.78cr – up by 2.18% from Q1 Fy 12; by 19.44% from Q4 FY 11; 29.72% from Q3 FY 11; and up by 57.68% from Q2 FY 11.
Operating Profit has increased to Rs.385.92 cr – higher by 18.71% from Q1 FY 12; Higher by 10.65% from Q4 Fy 11; Higher by 23.99% from Q3 FY 11; and Higher by 37.14% from Q2 FY 11.
Provisions has also increased significantly to Rs.37.87 cr in Q2 FY 12 from Rs.1.51 cr in Q1 FY 12; Rs.43.26 cr in Q4 FY 11; Rs.24.95 cr in Q3 FY 11; and Rs.17.44 cr in Q2 FY 11.
Profit before tax has increased to Rs.348.05 cr – up by 7.56% from Q1 FY 12 – up by 13.92% from Q4 FY 11; up by 21.57% from Q3 FY 11; and Up by 31.85% from Q2 FY 11.
Net Profit has increased to Rs.235.02 cr – up by 8.77% from Q1 FY 12 – up by15.56% from Q4 FY 11; up by 22.97% from Q3 FY 11; and up by 33.34% from Q2 FY 11;
Capital Adequacy Ratio is very comfortable at 15.98 – though down from 16.22 in Q1 FY 12; 16.5 in Q4 FY 11; 18.22 in Q3 FY 11; and 19.43 Q2 FY 11.
Basic EPS is steadily increasing and is now at Rs.6.73 on a FV of Rs.10 – compared to Rs.6.21 in Q1 FY 12; Rs. 5.86 in Q4 FY 11; Rs.5.52 in Q3 FY 11; and Rs.5.13 in Q2 FY 11. On Q2 FY11l the increase is 31.19% in Q2 FY 12.
Gross/Net NPA is Rs.13.64 cr in Q2 FY 12 compared to Rs.2.67 cr in Q1FY 12; Rs. 9.15 cr in Q4 FY 11; Rs.17.38 cr in Q3 FY 11; Rs.17.16 cr in Q2 FY 11.
% of Gross/Net NPA is quite comfortable at 0.04; compared to 0.01 in Q1 FY 12; 0.03 in Q4 FY 11; 0.06 in Q3 FY 11; 0.06 in Q2 FY 11.
Return on Assets is steadily increasing and is at 1.57% - compared to 1.49% in Q1 FY 12; 1.46% in Q4 Fy 11; 1.47% in Q3 FY 11; 1.52% in Q2 Fy 11.
Net Interest Margin is 2.9%
Cost to Income ratio is 35.6%
Bank’s total loan loss coverage ratio was at 360% while specific provisioning cover was at 80.2% as at September 30, 2011.
Total restructured advances (excluding NPAs) stand at Rs.175.5 crore as at September 30, 2011. This represents 0.51% of the Gross Advances.
Strong Shareholders’ returns: The Bank has delivered RoE of 22.6% and RoA of 1.6% for Q2FY12. RoE was 22.3% and ROA was 1.5% for H1FY12. RoA has been at or above 1.5% for the last 12 quarters, and Return on Equity has been approximately 20% or above over the same period.
Capital Funds: Tier I Capital stood at 9.4% and total CRAR stood at 16.0% as at September 30, 2011. Total Capital funds grew by 15.3% to Rs.7,860.2 crore as at September 30, 2011 compared to Rs.6,816.3 crore as at September 30, 2010.
Other Key Highlights as at Sept 30, 2011
Ø Advances up 12.7% to Rs.34,194.1 cr (Rs.30,348.1 cr at Sept 30, 2010)
Ø Customer Assets up 27.4% to Rs.40,760.1 cr (Rs.32,000.8 cr at Sept 30, 2010)
Ø Deposits up 10.2% to Rs.44,075.9 cr ( Rs.40,013.7 cr at Sept 30, 2010)
Ø Basel II Capital Adequacy Ratio of 16.0% (Tier I – 9.4%)
Ø Gross NPA at 0.20% of Gross Advances
Ø Net NPA at 0.04% of Net Advances
Ø Restructured advances at 0.51% of Gross Advances
Ø Specific provisioning cover at 80.2%; Total Provisioning Cover of 360%
Ø Book value per share of Rs.122.2 (Rs.100.9 as at Sept 30, 2010)
New Branches : YES BANK added 50 new branches across the country during the quarter. The Bank has doubled its branch count over the past 18 months from 150 branches as of March 2010 to 305 branches pan India as of September 2011.
YES BANK successfully raised Rs.321.5 crores of Lower Tier II Capital, rated LAA by ICRA and CARE AA by CARE, from Banks, Insurance Companies, Provident Funds & Corporates.
Awards & Recognitions
YES BANK received the Special Jury Commendation in the Best Private Sector Bank category at the CNBC – TV 18 Best Bank and Financial Institution Awards
YES BANK was awarded India’s No. 1 New Private Sector Bank, and the Fastest Growing Bank at the Financial Express – E&Y Best Banks Awards
YES BANK received the Best Private Sector Bank Award at the Dun & Bradstreet - Polaris Software Banking Awards
YES BANK won seven awards at Asia’s Best Employer Brand Awards, and the CMO Asia Awards for Excellence in Branding and Marketing
YES BANK receives the "Fastest Growing Bank" Award third year in a row at the Businessworld Best Bank Awards 2011.
YES BANK has been ranked 557 in the Financial Times Banker Top 1000 List, 2011. The Bank has moved up from the 2010 rank of 890, and has been the second fastest mover (up 333 places) amongst all the banks.
YES BANK received prestigious recognition at the TOP 100 CISO Awards 2011.
YES BANK received “India’s Fastest Growing Bank of the Year” award at the Bloomberg UTV Financial Leadership Awards 2011
The List of awards is Truly impressive – and reflects the growing confidence in the Bank in all Circles – and its ever improving performance on all parameters.
PE RATIO : Yes Bank’s 52 week high price was Rs.341.10 and 52 week low price was Rs.233.55. Its Last price was Rs.257.15. At the last Qtrly EPS of Rs.6.73, the annual EPS will be around 26.92(6.73 x 4) . While the current PE Ratio is 12.67, its justified price levels in a normal market would be much more than its 52 week high price. This is considered a right time to acquire such top performers at current prices.
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