Can Fin Homes Ltd Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Congratulations on a good set of numbers. So you highlighted about the audit that was run internally, but there was also an audit, which was conducted by Canara Bank, which we highlighted during the last quarter. So was there any observation from there? And also, what is the nature of irregularities that you have found in your internal audit?

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : So what will be the nature of these irregularities, like if it could close...

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Okay. Got it. So with respect to the rates on the yield side, so does the rate that we would have offered to our customers during, say, January 2021 to March 2021. Now that would have got repriced during this Jan to March 2022, right? So what would have been the repricing now like for these customers that you would have disbursed loans for?

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : And then reset like increase would have been like by how many like percentage of basis points?

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Okay. Okay. Got it. And then one last question on the credit cost side. So while our yearly guidance is for 40 basis points. And like we had created buffers during last quarter and which we reversed during this quarter. So I just wanted to understand like are we still sticking to the 40 basis point credit cost guidance or would we be revisiting it now?

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Okay. Okay. Got it, sir.

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Sorry, sir, what did you say properties?

Question: Shreepal Doshi - Equirus Securities Private Limited, Research Division - Analyst : Okay. Okay. Got it. Got it. And good luck for the next quarters.

Question: Aswin Balasubramanian - Hsbc Asset Management (India) Private Limited - Analyst : Just wanted to understand on the borrowing side, how frequently is the rate reset. And what is the amount of borrowings which is linked to the external benchmarks?

Question: Aswin Balasubramanian - Hsbc Asset Management (India) Private Limited - Analyst : Okay. So in terms of the borrowing costs then because you mentioned the incremental borrowing cost is about 5.67%. So that doesn't seem to have gone up much because the repo rate has moved up by 90 basis points in the past couple of months. So just trying to understand...

Question: Aswin Balasubramanian - Hsbc Asset Management (India) Private Limited - Analyst : Okay. But even on the overall book, it's 5.6%, right?

Question: Aswin Balasubramanian - Hsbc Asset Management (India) Private Limited - Analyst : Yes, that 5.8% is moved from 5.5%. So in the coming quarters, that would reprice further higher by how much of the repo rate goes up by?