Equity Analysis

PBT from Finance and Investment segment stood at Rs 130 crore in Q3FY2019. Commercial Finance segment reported a 13% rise in PBT at Rs 69 crore, while the home finance also posted 29% increase in PBT to Rs 88 crore in Q3FY2019. However, the general insurance segment reported 95% decline in PBT at Rs 2 crore and life insurance also posted 65% decline in PBT to Rs 9 crore in Q3FY2019 over Q3FY2018.

Performance for the quarter ended December 2018

Overall OPM jumped to 29.7% in Q3FY2019 from 22.4% in Q3FY2018, as other expenditure as a percentage of net sales declined to 62.0% from 71.6%. The staff cost as a percentage of net sales increased to 8.3% from 6.0%.

Interest cost increased 14% to Rs 1224 crore. PBT came in at Rs 298 crore in the quarter ended December 2018. The effective tax rate was 17.4%. Net Profit, after minority interest of Rs 33 crore came in at Rs 213 crore in the quarter ended December 2018.

• RNAM is India's largest asset manager, with assets under management (AUM), as on 31 December 2018, at Rs 4,14,362 crore - a YoY increase of 7%.
• For the quarter ended 31 December 2018, the income from operations was Rs 404 crore.
• For the quarter ended 31 December 2018, profit after tax was Rs 110 crore.
• As on 31 December 2018, Reliance Mutual Fund had a wide distribution network across approx. 300 locations and over 72,500 empanelled distributors across India.

• Reliance Money is amongst the leading SME lenders in the Indian non banking finance space, with a focus on transforming itself into a diversified and new-age finance solutions provider, both in the commercial and consumer finance space.
• Reliance Money offers a wide range of products which include SME Loans, Microfinance, Loans Against Property (LAP), Infrastructure Finance, Agriculture Loans, Supply Chain Finance, Two-wheeler Financing and Used Car Loans.
• As on 31 December 2018, the assets under management (including securitized portfolio) was Rs 17,257 crore.
• As on 31 December 2018, the outstanding loan book was Rs 15,527 crore - a YoY increase of 5%.
• For the quarter ended 31 December 2018, the total income rose to Rs 525 crore.
• For the quarter ended 31 December 2018, profit before tax was Rs 69 crore - a YoY increase of 12%.
• As on 31 December 2018, the gross NPA ratio improved to 2.9% as against 4.4% as on 31 December 2017.

• RHF provides a wide range of loan solutions like Home Loans, Affordable Housing Loans, LAP and Construction Finance. RHF also provides property services that help customers find their dream homes / properties.
• As on 31 December 2018, the assets under management (including securitized portfolio) was Rs 18,288 crore - a YoY increase of 24%.
• As on 31 December 2018, the outstanding loan book was Rs 16,160 crore - a YoY increase of 26%.
• For the quarter ended 31 December 2018, the total income was Rs 516 crore - a YoY increase of 22%.
• For the quarter ended 31 December 2018, the profit before tax was Rs 88 crore - a YoY increase of 30%.

• RGI offers insurance solutions for auto, health, home, property, travel, marine, commercial and other speciality products.
• RGI is amongst the leading private sector general insurance companies in India. It has a private sector market share of 8.2%, in terms of gross premium, of the private sector general insurance industry (for the quarter ended 31 December 2018).
• For the quarter ended 31 December 2018, the Gross Written Premium was Rs 1,316 crore - a YoY increase of 22%.
• For the quarter ended 31 December 2018, the profit before tax was Rs 34 crore - a YoY increase of 20%.
• As on 31 December 2018, the investment book stood at Rs 9,839 crore - a YoY increase of 30%.
• As on 31 December 2018, the net worth was Rs 1,537 crore - a YoY increase of 13%.
• As on 31 December 2018, RGI had a distribution network of over 130 branches and approx. 29,600 agents.

• RNLI is amongst the leading private sector life insurance companies in terms of new business premium with a market share of 1.4% of the private sector life insurance industry (for the quarter ended 31 December 2018).
• For the quarter ended 31 December 2018, the New Business Premium was Rs 243 crore - a YoY increase of 13%.
• For the quarter ended 31 December 2018, the Renewal Premium was Rs 793 crore.
• For the quarter ended 31 December 2018, the Total Premium (net of reinsurance) increased to Rs 1,030 crore - a YoY increase of 3%.
• The 13th month persistency improved to 75% as on 31 December 2018, as against 69% as on 31 December 2017.
• As on 31 December 2018, the total funds under management stood at Rs 20,202 crore - a YoY increase of 7%.
• The business made a marginal profit in the quarter ended 31 December 2018.
• As on 31 December 2018, the distribution network stood at over 725 offices and over 59,200 active advisors across India.

• Reliance Securities, one of the leading retail broking houses in India, provides a varied customer base with access to equities, equity options and wealth management solutions.
• The Distribution business is a comprehensive financial services and solutions provider, assisting customers with access to mutual funds, insurance products and other financial products, and has a pan India presence with over 1,300 customer touch points.
• In equity broking, as on 31 December 2018, there were over 8,83,000 broking accounts, an increase of 4%, with an average daily stock exchange turnover of Rs 5,122 crore - a YoY increase of 13%.
• In commodity broking, as on 31 December 2018, the commodity broking accounts rose by 9% to approx. 1,07,000, with average daily commodities turnover of over Rs 335 crore - a YoY increase of 24%.
• As on 31 December 2018, wealth management AUMs was over Rs 3,750 crore.
• For the quarter ended 31 December 2018, the total income was Rs 84 crore - a YoY increase of 25%.
• For the quarter ended 31 December 2018, the profit after tax was Rs 7 crore.

Reliance Capital: Consolidated Results

Reliance Capital: Segment Results

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