AgenciesEmkay Global has buy call on with a target price of Rs 1610. The current market price of Shriram Transport Finance Company is Rs 1385.6. Time period given by analyst is one year when . price can reach defined target.
Shriram Transport Finance Company Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 37234.33 Crore) operating in NBFC sector.
Shriram Transport Finance Company Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Income From Financial Services, Fees & Commission Income, Other Operating Revenue and Rental Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5149.26 Crore, up 1.21 % from last quarter Total Income of Rs 5087.59 Crore and up 10.70 % from last year same quarter Total Income of Rs 4651.50 Crore. Company reported net profit after tax of Rs 965.27 Crore in latest quarter.
Investment Rationale
The brokerage rolls over forecasts to Sep’23E and retain Buy rating with a Sep’23E TP of Rs1,610 (earlier Rs1,490), using the excess return on equity (ERE) method for FY23-24E RoE of ~14%, implying 1.2x Sep’24E BVPS. Key downside risks: Merger integration risk and overhang of stake sale by investors
Promoter/FII Holdings
Promoters held 25.58 per cent stake in the company as of 30-Sep-2021, while FIIs owned 53.67 per cent, DIIs 14.82 per cent.
Shriram Transport Finance Company Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 37234.33 Crore) operating in NBFC sector.
Shriram Transport Finance Company Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Income From Financial Services, Fees & Commission Income, Other Operating Revenue and Rental Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5149.26 Crore, up 1.21 % from last quarter Total Income of Rs 5087.59 Crore and up 10.70 % from last year same quarter Total Income of Rs 4651.50 Crore. Company reported net profit after tax of Rs 965.27 Crore in latest quarter.
Investment Rationale
The brokerage rolls over forecasts to Sep’23E and retain Buy rating with a Sep’23E TP of Rs1,610 (earlier Rs1,490), using the excess return on equity (ERE) method for FY23-24E RoE of ~14%, implying 1.2x Sep’24E BVPS. Key downside risks: Merger integration risk and overhang of stake sale by investors
Promoter/FII Holdings
Promoters held 25.58 per cent stake in the company as of 30-Sep-2021, while FIIs owned 53.67 per cent, DIIs 14.82 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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