ThinkStock Photos has buy call on with a target price of Rs 630. The current market price of Can Fin Homes is Rs 512.1.
Can Fin Homes, incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 6708.30 Crore) operating in NBFC sector.
Can Fin Homes key Products/Revenue Segments include Interest and Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Standalone Total Income of Rs 657.55 Crore, up 7.52 % from last quarter Total Income of Rs 611.58 Crore and up 40.54 % from last year same quarter Total Income of Rs 467.89 Crore. Company has reported net profit after tax of Rs 141.71 Crore in latest quarter.
The company’s top management includes Mr.Lingam Venkata Prabhakar, Mrs.Shubhalakshmi Aamod Panse, Mr.Arvind Narayan Yennemadi, Mr.G Naganathan, Mr.Satish Kumar Kalra, Mr.Ajai Kumar, Mr.Debashish Mukherjee, Mr.Amitabh Chatterjee, Mr.Girish Kousgi, Mr.Anup Sankar Bhattacharya. Company has B K Ramadhyani & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 13 Crore shares outstanding.
Investment Rationale
The brokerage models a Loan Book/PAT CAGR of 17%/~19%, respectively, over FY22-FY25E. CANF is a franchise with moats on the liability side and has always exhibited superior asset quality. For a RoA/RoE of 1.9%/17% in FY24E and triggers for valuation re-rating if the new management team can gain investor confidence, the brokerage reiterates its BUY rating with a TP of Rs 630 (premised on 1.8x Sep'24 P/BV).
Promoter/FII Holdings
Promoters held 29.99% stake in the company as of June 2022 quarter, while FIIs owned 0% stake and DIIs 24.79 per cent.
Can Fin Homes, incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 6708.30 Crore) operating in NBFC sector.
Can Fin Homes key Products/Revenue Segments include Interest and Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Standalone Total Income of Rs 657.55 Crore, up 7.52 % from last quarter Total Income of Rs 611.58 Crore and up 40.54 % from last year same quarter Total Income of Rs 467.89 Crore. Company has reported net profit after tax of Rs 141.71 Crore in latest quarter.
The company’s top management includes Mr.Lingam Venkata Prabhakar, Mrs.Shubhalakshmi Aamod Panse, Mr.Arvind Narayan Yennemadi, Mr.G Naganathan, Mr.Satish Kumar Kalra, Mr.Ajai Kumar, Mr.Debashish Mukherjee, Mr.Amitabh Chatterjee, Mr.Girish Kousgi, Mr.Anup Sankar Bhattacharya. Company has B K Ramadhyani & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 13 Crore shares outstanding.
Investment Rationale
The brokerage models a Loan Book/PAT CAGR of 17%/~19%, respectively, over FY22-FY25E. CANF is a franchise with moats on the liability side and has always exhibited superior asset quality. For a RoA/RoE of 1.9%/17% in FY24E and triggers for valuation re-rating if the new management team can gain investor confidence, the brokerage reiterates its BUY rating with a TP of Rs 630 (premised on 1.8x Sep'24 P/BV).
Promoter/FII Holdings
Promoters held 29.99% stake in the company as of June 2022 quarter, while FIIs owned 0% stake and DIIs 24.79 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.
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.