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ICICI Securities has buy call on Aditya Birla Sun Life AMC Ltd. with a target price of Rs 728. The current market price of Aditya Birla Sun Life AMC is Rs 543.7. Time period given by analyst is one year when Aditya Birla Sun Life AMC Ltd. price can reach defined target.
Aditya Birla Sun Life AMC Ltd., incorporated in the year 1994, is a Small Cap company (having a market cap of Rs 15649.92 Crore) operating in Financial Services sector.
Aditya Birla Sun Life AMC Ltd. key Products/Revenue Segments include Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 364.60 Crore, up 11.08 % from last quarter Total Income of Rs 328.23 Crore and up 27.43 % from last year same quarter Total Income of Rs 286.12 Crore. Company reported net profit after tax of Rs 170.03 Crore in latest quarter.
Investment Rationale
The business strength is complimented by Rs117bn worth of alternate assets (Sep’21) and diversified distribution across 100+ banks, 240+ national distributors and 70+ digital fintech partnerships. Retail folios have clocked 17.4% CAGR between Sep’16 and Sep’21. The brokerage initiates coverage with BUY rating and a target price of Rs728 based on 30x FY23/24E core EPS (excluding impact of other income) of Rs19.2/22 and cash of Rs80/92 per share.
Promoter/FII Holdings
Promoters held 86.5 per cent stake in the company as of 07-Oct-2021, while FIIs owned 2.98 per cent, DIIs 3.4 per cent.
Aditya Birla Sun Life AMC Ltd., incorporated in the year 1994, is a Small Cap company (having a market cap of Rs 15649.92 Crore) operating in Financial Services sector.
Aditya Birla Sun Life AMC Ltd. key Products/Revenue Segments include Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 364.60 Crore, up 11.08 % from last quarter Total Income of Rs 328.23 Crore and up 27.43 % from last year same quarter Total Income of Rs 286.12 Crore. Company reported net profit after tax of Rs 170.03 Crore in latest quarter.
Investment Rationale
The business strength is complimented by Rs117bn worth of alternate assets (Sep’21) and diversified distribution across 100+ banks, 240+ national distributors and 70+ digital fintech partnerships. Retail folios have clocked 17.4% CAGR between Sep’16 and Sep’21. The brokerage initiates coverage with BUY rating and a target price of Rs728 based on 30x FY23/24E core EPS (excluding impact of other income) of Rs19.2/22 and cash of Rs80/92 per share.
Promoter/FII Holdings
Promoters held 86.5 per cent stake in the company as of 07-Oct-2021, while FIIs owned 2.98 per cent, DIIs 3.4 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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