BANK OF INDIA - Q1 FY 21 - RESULTS REVIEW - DT 30 08 20

 

BANK OF INDIA

Q1 FY 21 RESULTS REVIEW

DT 30 08 20

Management
G Padmanabhan	Chairman
Atanu Kumar Das	Managing Director & CEO
QUARTERLY RESULTS :

Bank Of India (in Rs. Cr.)	Jun '20	Mar '20	Dec '19	Sep '19	Jun '19	YOY	QOQ
Interest Earned
(a) Int. /Disc. on Adv/Bills	7,025.01	7,250.46	7,379.09	7,380.80	6,966.39	0.84	-3.11
(b) Income on Investment	2,820.21	2,785.29	2,727.47	2,600.27	2,643.86	6.67	1.25
(c) Int. on balances With RBI	383.43	484.65	596.36	655.22	708.02	-45.84	-20.89
(d) Others	58.11	64.68	195.27	79	73.94	-21.41	-10.16
Other Income	1,735.72	1,708.29	2,532.34	1,347.26	1,221.00	42.16	1.61
EXPENDITURE
Interest Expended	6,773.44	6,757.89	6,744.11	6,817.84	6,871.62	-1.43	0.23
Employees Cost	1,464.39	1,685.84	1,469.63	1,620.90	1,420.19	3.11	-13.14
Other Expenses	927.55	1,179.99	1,058.46	1,142.24	1,035.15	-10.39	-21.39
Operating Profit	2,857.10	2,669.65	4,158.33	2,481.57	2,286.25	24.97	7.02
Provisions And Contingencies	1,515.69	8,154.88	4,028.03	2,060.00	1,922.72	-21.17	-81.41
P/L Before Tax	1,341.41	-5,485.23	130.3	421.57	363.53	269	-124.45
Tax	489.95	-1,915.97	14.66	143.16	117.73	316.16	-125.57
Net Profit/(Loss)	851.46	-3,569.26	115.64	278.41	245.8	246.4	-123.86
Minority Interest	0.72	0.16	-0.11	0.4	-0.25	-388	350
Share Of P/L Of Associates	-6.4	-31.55	22.67	-21.5	-91.45	-93	-79.71
FINAL NPT	845.78	-3,600.65	138.2	257.31	154.1	448.85	-123.49
Equity	3,277.66	3,277.66	3,277.66	3,277.66	3,277.66	0	0
ANALYTICAL RATIOS
a) % of Share by Govt.	89.1	89.1	89.1	89.1	89.1	0	0
EPS Before Extra Ordinary
Basic EPS	2.58	-10.99	0.42	0.79	0.49	426.53	-123.48
NPA Ratios :
i) Gross NPA	57,859.74	61,625.44	61,730.54	61,475.60	62,147.40	-6.9	-6.11
ii) Net NPA	13,304.82	14,347.40	20,113.34	19,645.83	19,339.30	-31.2	-7.27
i) % of Gross NPA	13.86	14.73	16.3	16.31	16.44	-15.69	-5.91
ii) % of Net NPA	3.57	3.87	5.97	5.87	5.78	-38.24	-7.75
Return on Assets %	0.5	-2.22	--	--	0.1	400	-122.52
MP	53
PE	5.135659	LOSS	LOW PROFIT	LOW PROFIT	LOW PROFIT

 

52 Wk L/H   0.45   85.9

 ANNUAL RESULTS FOR LAST 5 YEARS :

Annual	Mar-20	Mar-19	Mar-18	Mar-17	Mar-16
Interest Earned	42,590.77	41,004.82	38,312.80	39,585.23	42,092.84
Other Income	6,808.89	5,264.03	5,845.89	6,819.45	3,671.62
Total Income	49,399.67	46,268.84	44,158.69	46,404.69	45,764.46
Total Expenditure	37,803.87	38,074.16	36,944.02	36,573.48	39,670.34
Operating Profit	11,595.80	8,194.68	7,214.67	9,831.21	6,094.12
Provisions & Contigencies	12,884.79	10,531.11	15,874.55	12,236.14	14,130.73
PBT	-1,288.99	-2,336.43	-8,659.88	-2,404.93	-8,036.61
Tax	1,640.42	3,161.00	-2,587.00	-818.41	-1,701.63
Net Profit	-2,929.41	-5,497.43	-6,072.88	-1,586.52	-6,334.98

 HISTORICAL PRICES

Historical Prices
	3M BEF	Current Price	%Gain / Loss
Open Price	31.60	48.20	52.53
	1YR BEF
Open Price	66.6	48.2	-27.63
	2YR BEF
High Price	96.75	48.85	-49.51
	3YR BEF
Open Price	144	48.2	-66.53

 

 

Share Holding Pattern in (%)
Standalone	Jun-20	Dec-19	Sep-19	Jun-19
Promoters	89.1	89.1	89.1	89.1
Pledged	0	0	0	0
FII/FPI	0.39	0.44	0.46	0.5
Total DII	6.44	6.45	6.41	6.62
Fin.Insts	0.41	0.42	0.43	0.44
Insurance Co	4.78	4.78	4.78	4.78
MF	0.43	0.43	0.44	0.62
Others DIIs	0.82	0.82	0.76	0.78
Others	4.08	4.01	4.02	3.78
Total	100.01	100	99.99	100

 

Bank of India to seek shareholders' nod for raising up to Rs 16,000 crore

The bank said it plans to issue fresh equity shares up to an amount of Rs 8,000 crore in such a way that the government's shareholding does not fall below 51 per cent.

It said it plans to raise up to Rs 16,000 crore through issuance of shares and bonds. It will seek shareholders' approval at its Extraordinary General Meeting (EGM) on September 19, the lender said in a regulatory filing.

It will also seek approval for issuing perpetual debt instruments, including non-convertible debentures (NCDs), for an amount not exceeding Rs 8,000 crore.

It said the allotment of securities shall be through qualified institutional placement (QIP), public issue, rights issue, private placement or such other mode of issue, with or without over-allotment option.

the Indian banking system has been implementing Basel III guidelines since April 2013 in a phased manner and the norms are to be fully implemented by September 30, 2020.

 

"The bank has been growing very diligently and cautiously for the last many years and there is constant requirement of capital. In order to meet this growing requirement, bank needs long term capital," it said.

BOI said that it will seek shareholders' permission for appropriation (setting aside money for a specific purpose) of accumulated losses from the share premium account of the bank.

"As on March 31, 2020, bank is having a balance of accumulated losses of Rs 23782,38,80,979.26 (Rs 23,782.39 crore) as against the securities premium amount of Rs 35331,77,29,673.58 (Rs 35,331.77 crore) in the balance sheet. It is proposed to set off the accumulated losses with an equal amount lying in the securities premium account," it said.

As the proposed utilisation of share premium account for the purpose of setting off accumulated losses would be deemed to be a capital reduction, approval of shareholders of the bank by way of a special resolution is being sought, it said.

"The proposed set off will present true and fair view of the financial position of the bank and will not affect any ratios such as book value per share, return on equity (ROE), earning per share (EPS).

"The said set off will help the bank to improve its distributable reserves...The proposal will also put the bank in a better position to achieve its turnaround plans in a time-bound manner," it added.