*PNB Housing Finance Ltd. -S* | *CMP* Rs. 221 | *M Cap* Rs. 3717 Cr | *52 W H/L* 845/146
(Nirmal Bang Retail Research)
*Result has declined*
NII came at Rs. 422.6 Cr vs YoY Rs. 465.4 Cr, QoQ Rs. 429.3 Cr
PBP came at Rs. 427.6 Cr vs YoY Rs. 555.2 Cr, QoQ Rs. 479 Cr
Provision came at Rs. 754.8 Cr vs YoY Rs. 10.1 Cr, QoQ Rs. 180.8 Cr
_*Company has made a provision of rs. 471 Cr towards impact of Covid-19*_
PAT came at Rs. -242.1 Cr vs YoY Rs. 379.8 Cr, QoQ Rs. 237 Cr
AUM came at Rs. 83346 Cr vs YoY Rs. 84722 Cr, QoQ Rs. 86297 Cr
Disbursements came at Rs. 2826 Cr vs YoY Rs. 8562 Cr, QoQ Rs. 3196 Cr
_Disbursements de-grew 35% YoY in FY20, mainly due to decline in corporate disbursements. Corporate disbursements de-grew 84% YoY_
Gross NPA (%) came at 2.29% vs QoQ 1.75%
Net NPA (%) came at 1.75% vs QoQ 1.01%
Quarter EPS is Rs. -14.5
Share is trading at P/E of 3.4x FY 20E EPS & 0.5x trailing P/BV
_*Moratorium: As on 5th June, in the 1st phase (Mar-May), 56% of the customers had opted for moratorium. In the 2nd phase (Jun-Aug) 31% of the customers have opted for moratorium*_