ETMarkets.com has buy call on with a target price of Rs 325. The current market price of Bandhan Bank is Rs 251.35.
Bandhan Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 40591.81 Crore).
Bandhan Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
The Bank has reported Standalone Non Performing Assets (Gross NPAs) at .00 % of total assets and Standalone Net Non Performing Assets (Net NPAs) at .00% of total assets for the quarter ending #LatestQuarterDate.
For the quarter ended 30-09-2022, the company has reported a Standalone Total Income of Rs 4249.87 Crore, down -3.08 % from last quarter Total Income of Rs 4385.05 Crore and up 15.72 % from last year same quarter Total Income of Rs 3672.51 Crore. The bank has reported net profit after tax of Rs 209.27 Crore in latest quarter.
Investment Rationale
Despite issues in core geographies over the past few years, impact of Covid19 and floods, the bank has managed to deliver average RoEs of 14.8% over last 5 years (11.9% over last 3 years). Given the cyclically positive construct on microloans as an industry, Bandhan’s pan-India presence and focus on diversification of its book, the brokerage believes risk-reward is favourable at current valuations of 1.6x FY24E P/BV and 7.9x FY24E P/E. The brokerage maintains a buy with an unchanged target price of Rs 325.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of September 2022 quarter, while FIIs owned 35.64 per cent, DIIs 7.12 per cent.
Bandhan Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 40591.81 Crore).
Bandhan Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
The Bank has reported Standalone Non Performing Assets (Gross NPAs) at .00 % of total assets and Standalone Net Non Performing Assets (Net NPAs) at .00% of total assets for the quarter ending #LatestQuarterDate.
For the quarter ended 30-09-2022, the company has reported a Standalone Total Income of Rs 4249.87 Crore, down -3.08 % from last quarter Total Income of Rs 4385.05 Crore and up 15.72 % from last year same quarter Total Income of Rs 3672.51 Crore. The bank has reported net profit after tax of Rs 209.27 Crore in latest quarter.
Investment Rationale
Despite issues in core geographies over the past few years, impact of Covid19 and floods, the bank has managed to deliver average RoEs of 14.8% over last 5 years (11.9% over last 3 years). Given the cyclically positive construct on microloans as an industry, Bandhan’s pan-India presence and focus on diversification of its book, the brokerage believes risk-reward is favourable at current valuations of 1.6x FY24E P/BV and 7.9x FY24E P/E. The brokerage maintains a buy with an unchanged target price of Rs 325.
Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of September 2022 quarter, while FIIs owned 35.64 per cent, DIIs 7.12 per cent.
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