Financial Data Report SBM HOLDINGS LIMITED (THE GROUP) for the period ending 31.Mar.2016
Equity Statistics Particulars Units 31-Mar-16 Current Market Price MUR 0.68 52 week H/L* MUR 1.00 /.65 Market Capitalisation MUR Mn 20,654.34 P/B Times 1.06 P/E Times 10.91 Dividend Yield % 5.88 *The 52W/H 52W/L prices are adjusted to cater for Share Splits/Bonus Issues/Rights Issues and other corporate actions taking place within the 52 week period. Value Traded (MUR 000) 900000 848451 800000 700000 713088 600000 500000 400000 419746 300000 248523 200000 100000 141149 128238 136258 78810 107385 125500 98670 99908 0 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Period 3 Months 6 Months 1 Year 3 Years Stock Returns (%) Stock Returns Index Returns Relative Return (16.9) (3.1) (13.8) (38.1) (11.9) (26.2) (29.9) (9.0) (20.9) (11.5) (1.9) (9.7) Page 2
Shareholding Pattern (%) (31.12.2014) 15.3 NATIONAL PENSIONS FUND 52.0 12.8 15.0 SBM HOLDINGS LTD - TREASURY SHARES STATE INSURANCE COMPANY OF MAURITIUS LTD (PENSION FUND) 4.9 GOVERNMENT OF MAURITIUS Others Annual Financial Snapshot Income Statement Year Ended 30-Jun-12 31-Dec-13 31-Dec-14 31-Dec-15 Net Interest Income (MUR Mn) 3,198.7 5,916.08 4,050.44 4,252.74 Growth in NII (%) 84.95-31.54 4.99 Per Share Data (MUR) Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 BVPS 0.60 0.598 0.680 0.643 Diluted EPS 10.3 16.850 7.240 6.230 Key Financial Ratios Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 NIM (%) - 5.60 3.41 3.25 ROTA (%) - 4.12 1.57 1.23 CAR (%) 21.5 21.16 32.84 28.26 GNPA (%) 1.1 2.03 2.12 NM/NA Quarterly Financials Mar-16 Mar-15 Dec-15 Growth Growth (MUR Mn) Y-o-Y (%) Q-o-Q (%) Net Interest Income 1,133.47 962.08 NM/NA 17.81 NM/NA Non Interest Income 516.89 453.93 NM/NA 13.87 NM/NA PBT 901.64 712.72 NM/NA 26.51 NM/NA PAT 714.97 538.92 NM/NA 32.67 NM/NA Loans & Advances 69,262.43 68,724.32 NM/NA 0.78 NM/NA Total Assets 136,652.82 133,623.44 NM/NA 2.27 NM/NA Per Share Data (MUR) Mar-16 Mar-15 Dec-15 Diluted EPS 2.77 2.09 NM/NA Profitability Ratio (%) Mar-16 Mar-15 Dec-15 NIM (Annualized) 3.36 3.15 NM/NA ROTA (Annualized) 2.12 1.77 NM/NA Page 3
Annual Financial Statistics Income Statement (MUR Mn) Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 Interest Income 5,897.80 9,333.87 6,451.25 6,424.32 Interest Expense 2,699.11 3,417.79 2,400.81 2,171.58 Net Interest Income 3,198.69 5,916.08 4,050.44 4,252.74 Non Interest Income 1,907.59 3,304.69 2,210.43 2,002.56 Total Income (Net Interest Income + Non Interest Income) 5,106.28 9,220.77 6,260.87 6,255.29 Operating Expenses (excluding impairments) 1,665.75 3,361.03 3,152.46 2,270.45 Credit Impairments 253.56 742.22 630.35 1,936.84 PBT 3,268.49 5,259.18 2,541.04 5,259.18 PAT 2,655.57 4,350.38 1,868.40 1,607.55 Balance Sheet (MUR Mn) Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 No. of Shares (Number) 30,374,022,300 30,374,022,300.00 30,374,022,300.00 30,374,022,300.00 Total Equity 18,345 19,343.19 22,073.66 22,188.36 Deposits 76,275 83,233.92 92,378.89 105,032.82 Other Borrowings 2,925 6,114.25 8,711.21 5,994.64 Other Liabilities 1,585 3,169.37 2,438.50 2,946.27 DTL 163 51.19 - - Total Equity & Liabilities 99,292.00 111,911.92 125,602.26 136,162.09 Cash & Equivalents 11,960 12,539.33 14,742.87 16,094.04 Loans to and placements with other banks 1,512 932.43 702.13 1,208.95 Loans & Advances 62,825 69,630.17 67,434.54 68,784.20 Investments 19,700 23,460.31 37,297.02 43,586.14 Tangible Assets 2,673 2,623.07 2,753.30 2,827.60 Intangible Assets 87 1,023.27 1,252.33 2,370.63 DTA - 145.10 171.43 276.76 Other Assets 536 1,507.05 1,248.63 1,013.78 Total Assets 99,292.00 111,860.72 125,602.26 136,162.09 Tangible Networth 18,258.29 18,174.81 20,649.90 19,540.98 Page 4
Annual Financial Statistics (cont..) Per Share Data (MUR) Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 BVPS 0.6 0.60 0.68 0.64 Diluted EPS 10.3 16.85 7.24 6.23 DPS 0.035 0.040 0.045 0.040 Growth Y-o-Y (%) Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 Growth in NII 84.95-31.54 4.99 Growth in PAT 63.82-57.05-13.96 Growth in EPS 63.75-57.03-13.95 Growth in Loans & Advances 10.83-3.15 2.00 Growth in Total Assets 12.66 12.28 8.41 Key ratios Year Ended 31-Dec-13 31-Dec-14 31-Dec-15 NIM (%) 5.60 3.41 3.25 Cost to Income (%) 32.6 36.45 50.35 36.30 ROTA (%) 4.12 1.57 1.23 RoE (%) 23.88 9.62 8.00 GNPA (%) 1.1 2.03 2.12 NM/NA CAR (%) 21.5 21.16 32.84 28.26 Tier I CAR (%) 18.4 18.34 28.02 21.75 Debt / Networth (times) 4.92 4.90 5.68 C/D Ratio (times) 0.8 0.85 0.74 0.67 *Deposits have been included in the numerator of the Debt/Networth ratio. Without deposits, the Debt/Networth ratio would have been 0.31 times for the year ending 31 December 2015. Please see explanatory note for details on the methodology. Result Analysis The company changed its financial year from June to December in 2013. Hence financials for December 2013 are for a 18-month period and not completely comparable with other periods. For the quarter ending March 31, 2016 SBMH reported a net income of MUR 715.0 mn. For further information, please read the explanatory note giving the definition and interpretation of the ratios and data along with the report. Contact: Saurav Chatterjee saurav.chatterjee@careratingsafrica.com +230-58626551 CARE Ratings (Africa) Private Limited Amit Ramsohoy amit.ramsohoy@careratingsafrica.com +230-59553060 CARE Ratings (Africa) Private Limited Disclaimer This report is prepared by CARE Ratings (Africa) Private Limited (CRAF). CRAF has taken utmost care to ensure accuracy and objectivity while developing this report based on information available in public domain. However, neither the accuracy nor completeness of information contained in this report is guaranteed by CRAF or by the Stock Exchange of Mauritius Ltd (SEM). SEM and CRAF make no representations, give no warranty and disclaim all liability in respect thereof and shall not be held liable for any damage, loss or cost incurred resulting from any error in the information or any use of or reliance on the said information. SEM and CRAF are not responsible for any errors or omissions in analysis/inferences/views or for results obtained from the use of information contained in this report and especially state that SEM and CRAF has no financial liability whatsoever to the user of this report. Appropriate independent advice should be obtained before making any investment or relying on the contents contained in this report. Page 5