|Loans & advances and rental receivable 31st March 2015||55,499||55,959||12,569||23,454||7,841||3,540||3,115||5,041||49,797||29,620|
|Loans & advances and rental receivable 31st December 2015||61,813||68,067||16,967||26,688||9,509||4,489||5,423||5,349||66,553||38,222|
|Average loans & advances and rental receivable||58,656||62,013||14,768||25,071||8,675||4,015||4,269||5,195||58,175||33,921|
|Annualised interest income||12,496||14,020||3,140||6,212||1,941||1,172||2,061||1,089||12,465||6,568|
|Average Interest Yield (IY)||21.30%||22.6%||21.26%||24.8%||22.4%||29.2%||48.3%||21.0%||21.4%||19.4%|
Now you can look at the IY rank at the last raw. BLI is at the number one followed by AFSL and then HDFC. If you look at the absolute IY% in the proceeding immediate raw you can see BLI is way above the other guys. The gap between no 1 and no 2 is 19.1pp and the gap between no 2 and no 10 is only 9.8pp.
Further you can refer the average for this entire set of companies in below table.
|Average for the total 10 companies|
|Average total loans & advances (Rs mn)||27,476|
|Average annualized interest income (Rs mn)||6,117|
|Average IY %||22.3%|
The average yield is standing @ 22.3% while BLI alone is 48.3%, more than double the average rate. Can you believe this??. According to the published data this is the situation.
Now the main question is how only BLI can generate double the revenue from same class of assets compared to all the peers and even more than double to their sister company, SFL.
In my original post I concluded with a statement that there is something wrong either in SFL or BLI. And this analysis confirms to me SFL is doing normal course of business because their margins are within the average range but BLI is way over. Now I am asking the question whether BLI doing some thing wrong or manipulation here? Are they are following the path of TWOD?
I would like to know the opinion of the BLI lovers on this finding. Especially I want to know the view of Teller who are very favourable on BLI. If this performance of BLI is real and genuine they are far better than other finance companies and every investor should have that share in his/her portfolio. Is it should be the case really??
Experts of BLI, please substantiate.