Agencies has buy call on 360 One Wam with a target price of Rs 2217. The current market price of 360 One Wam is Rs 1937.95.
360 One Wam, incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 17103.73 Crore) operating in NBFC sector.
360 One Wam key Products/Revenue Segments include Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 530.95 Crore, up 1.38 % from last quarter Total Income of Rs 523.72 Crore and down -6.95 % from last year same quarter Total Income of Rs 570.62 Crore. Company has reported net profit after tax of Rs 171.53 Crore in latest quarter.
The company’s top management includes Mr.Nilesh Vikamsey, Mr.Pankaj Vaish, Dr.Subbaraman Narayan, Ms.Geeta Mathur, Mr.Shantanu Rastogi, Mr.Sandeep Naik, Mr.R Venkataraman, Mr.Nirmal Jain, Mr.Yatin Shah, Mr.Karan Bhagat, Mr.Gopalakrishnan Soundarajan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 9 Crore shares outstanding.
Investment Rationale
360 One Wam (erstwhile IIFL Wealth & Asset Management) registered 4%/16%QoQ/YoY PAT growth in Q3FY23 to Rs1.80bn, delivering >23% RoE, broadly in line with the brokerage's estimates. ARR asset revenue grew strongly at 6% QoQ to Rs 2.76 billion (67% of total revenue vs 64% in Q2FY23) driven by 7% ARR AUM growth. However, YoY build up was lower at 12% despite 20% growth in ARR AUM due to moderation in retention rates (70bps/74bps in Q3FY23/Q3FY22). Transactional revenue was up 14% QoQ, driving 9% QoQ growth in operating revenue to Rs 4.2bn.
Promoter/FII Holdings
Promoters held 22.03 per cent stake in the company as of 31-Dec-2022, while FIIs owned 31.48 per cent, DIIs 2.18 per cent.
360 One Wam, incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 17103.73 Crore) operating in NBFC sector.
360 One Wam key Products/Revenue Segments include Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 530.95 Crore, up 1.38 % from last quarter Total Income of Rs 523.72 Crore and down -6.95 % from last year same quarter Total Income of Rs 570.62 Crore. Company has reported net profit after tax of Rs 171.53 Crore in latest quarter.
The company’s top management includes Mr.Nilesh Vikamsey, Mr.Pankaj Vaish, Dr.Subbaraman Narayan, Ms.Geeta Mathur, Mr.Shantanu Rastogi, Mr.Sandeep Naik, Mr.R Venkataraman, Mr.Nirmal Jain, Mr.Yatin Shah, Mr.Karan Bhagat, Mr.Gopalakrishnan Soundarajan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 9 Crore shares outstanding.
Investment Rationale
360 One Wam (erstwhile IIFL Wealth & Asset Management) registered 4%/16%QoQ/YoY PAT growth in Q3FY23 to Rs1.80bn, delivering >23% RoE, broadly in line with the brokerage's estimates. ARR asset revenue grew strongly at 6% QoQ to Rs 2.76 billion (67% of total revenue vs 64% in Q2FY23) driven by 7% ARR AUM growth. However, YoY build up was lower at 12% despite 20% growth in ARR AUM due to moderation in retention rates (70bps/74bps in Q3FY23/Q3FY22). Transactional revenue was up 14% QoQ, driving 9% QoQ growth in operating revenue to Rs 4.2bn.
Promoter/FII Holdings
Promoters held 22.03 per cent stake in the company as of 31-Dec-2022, while FIIs owned 31.48 per cent, DIIs 2.18 per cent.
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