Add Aptus Value Housing Finance India, target price Rs 377: ICICI Securities

ICICI Securities has add call on Aptus Value Housing Finance India Ltd. with a target price of Rs 377. The current market price of Aptus Value Housing Finance India Ltd. is Rs 349.2 Time period given by analyst is one year when Aptus Value Housing Finance India Ltd. price can reach defined target.

Aptus Value Housing Finance India Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 16844.78 Crore) operating in NBFC sector.

Aptus Value Housing Finance India Ltd. key Products/Revenue Segments include Interest, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 203.24 Crore, up 9.34 % from last quarter Total Income of Rs 185.88 Crore and up 29.39 % from last year same quarter Total Income of Rs 157.07 Crore. Company reported net profit after tax of Rs 85.26 Crore in latest quarter.

Investment Rationale
With ~29% AUM growth, some pressure on yields, limited room for further operating efficiency and normalisation of credit cost, the brokerage expects net revenue and earnings to compound at 27-28% CAGR over FY21- 24E. RoAUMs, thereby, are estimated to sustain near 7% by FY24. On a low base and excess capital adequacy, Aptus’ RoE generation ability would be contingent on higher asset growth.

Promoter/FII Holdings
Promoters held 62.51 per cent stake in the company as of 30-Sep-2021, while FIIs owned 28.0 per cent, DIIs 2.47 per cent.