ETAutoRelated
has add call on with a target price of Rs 1320. The current market price of Au Small Finance Bank Ltd. is Rs 1176.35.
Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 35886.15 Crore).
Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 1924.53 Crore, up 28.46 % from last quarter Total Income of Rs 1498.15 Crore and up 51.20 % from last year same quarter Total Income of Rs 1272.83 Crore. The bank reported net profit after tax of Rs 479.02 Crore in latest quarter.
Investment Rationale
With improving visibility on growth, capital infusion of Rs6.25bn and likely credit cost normalisation in FY22e (~40% coverage on proforma GNPL), the brokerage adjusts target multiple to ~5x FY23e (still ~35% lower than historical peak) and revises TP upwards to Rs1,320 (earlier Rs994).
Promoter/FII Holdings
Promoters held 29 per cent stake in the company as of Dec 30, 2020, while FIIs held 37.1 per cent, DIIs 11.6 per cent and public and others 19.3 per cent.
Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 35886.15 Crore).
Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 1924.53 Crore, up 28.46 % from last quarter Total Income of Rs 1498.15 Crore and up 51.20 % from last year same quarter Total Income of Rs 1272.83 Crore. The bank reported net profit after tax of Rs 479.02 Crore in latest quarter.
Investment Rationale
With improving visibility on growth, capital infusion of Rs6.25bn and likely credit cost normalisation in FY22e (~40% coverage on proforma GNPL), the brokerage adjusts target multiple to ~5x FY23e (still ~35% lower than historical peak) and revises TP upwards to Rs1,320 (earlier Rs994).
Promoter/FII Holdings
Promoters held 29 per cent stake in the company as of Dec 30, 2020, while FIIs held 37.1 per cent, DIIs 11.6 per cent and public and others 19.3 per cent.
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