For the quarter and nine months ended December 31, 2020 (Q3FY21, 9MFY21), Consolidated Results as per IndAS are:

• Total Income stood at Rs 215 Cr for the quarter (up 2% y-o-y) and Rs 611 Cr for the nine months period (up 5% y-o-y)
• Profit after tax (TCI) (before exceptional items) stood at Rs 51 Cr for the quarter (up 10% y-o-y) and Rs. 143 Cr for the nine months period (up 33% y-o-y)
• Assets under management stood at Rs. 38,746 Cr.

Summary: Consolidated – Q3FY21

Summary: Consolidated – 9MFY21

Mr. R. Venkataraman, Managing Director, commented on the financial results: “Investment banking business continues to gain traction. We are uniquely placed as we have strong distribution capabilities across retail, HNI and institutional segments. With the lockdown getting lifted and the macroeconomic environment gradually improving, the outlook for the sector continues to remain sanguine.”

Retail and Institutional Broking

IIFL Securities is a key player in both retail and institutional segments of the capital market. We have over 2,500 points of presence across India and provide unparalleled research coverage on 225+ companies.

During the quarter, the average daily market turnover (including F&O) for the broking business was Rs 33,012 Cr (BSE + NSE), up 38% q-o-q.

Retail broking revenue was Rs 73 Cr for the quarter ended December 31, 2020, up 40% y-o-y.

Our mobile trading app, ‘IIFL Markets’ continues to be among the highest rated with over 55 lakh downloads.

IIFL’s Institutional broking segment has over 700 domestic and foreign clients. It provides comprehensive research coverage, covering over 225 stocks across 20+ sectors accounting for over 80% of India’s market capitalization.

Financial Products Distribution (FPD)

IIFL Securities offers a wide range of products such as mutual funds, insurance, IPOs, bonds, AIF and others, targeting retail clients. Insurance premium for the quarter has grown by 29% y-o-y to Rs 35.9 Cr. FPD AUM stood at Rs. 11,215 Cr. Mutual Fund AUM grew by 27% y-o-y and 19% q-o-q to Rs 4,506 Cr as at December 31, 2020. SIP AUM grew by 28% y-o-y and 14% q-o-q to Rs 902.2 Cr.

Investment Banking

The previous quarter has been a strong quarter for IIFL’s Investment banking segment. It completed 13 transactions consisting of 3 IPOs, 4 QIPs, 1 OFS and 5 private equity transactions. Major deals completed include IPOs for Mrs. Bectors Food, Antony Waste Handling and Equitas SFB, QIPs for PNB and Embassy Office Parks and 1 OFS for IRCTC. We have filed 3 DRHPs over the previous quarter- a number of IPOs are in various stages of execution. Our deal pipeline remains robust for the coming quarters.

Buy Back Update

The shareholders of the Company vide postal ballot resolution dated December 22, 2020 accorded its consent for the buy-back of its fully paid-up equity shares of face value of Rs. 2/- (Rupee Two) each, from the members of the Company (except promoters, promoter group and persons in control of the Company) at a price not exceeding Rs. 54 (Rupees Fifty Four Only) per equity Share.

The total amount earmarked for Buyback is Rs. 90 Cr. The Cumulative amount utilized for Buyback is Rs. 60.7  Cr. and total number of shares bought back are 1.2 cr. as on January 20, 2021.

Change in Independent Directors

Appointment

Mr. Vishwanathan Krishnan has been appointed as Independent Director on our Board. Mr. Krishnan is a Cost Accountant and a seasoned Financial Services professional, with over three decades of diverse experience in technology, operational risk, information security, compliance and internal control. He has held senior positions in domestic majors like L&T, MCX and SHCIL apart from MNC organizations like ABN, AMRO, Alliance Capital, Barclays etc. Mr. Krishnan now leads Kris Konsulting, a unique boutique Advisory & Assurance firm.

Resignation

Mr. Mohan Radhakrishnan has ceased to remain as the independent director of the Company, post requisite regulatory approvals w.e.f. January 2, 2021.