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SRTRANSFIN Consensus Forecast

No. of reports in last year
4
No. of analysts
2
Average Consensus Forecast
1350
Consensus Potential
-8.19%

SRTRANSFIN Price Target Potential

BrokerageTargetPotential
Nirmal Bang173222.26%
Prabhudas Lilladher14738.59%

SRTRANSFIN Ratings

Long term SRTRANSFIN rating by FrontPage users
5/5 (9 Ratings)

4 SRTRANSFIN share price target reports by brokerages below. See what is analyst's view on SRTRANSFIN share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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SRTRANSFIN Share Price Target

SRTRANSFIN Share Price Target - Broker Reports - 2021

3-May-21
Price @ Call: 1299.15
Target: 1732
BUY
30-Apr-21
Price @ Call: 1342.7
Target: 1473
ACCUMULATE
29-Jan-21
Price @ Call: 1180
Target: 1386
ACCUMULATE

SRTRANSFIN Share Price Target - Broker Reports - 2020

30-Oct-20
Price @ Call: 694.45
Target: 809
ACCUMULATE
13-Feb-20
Price @ Call: 1220
Target: 1410
BUY
We expect STFC’s AUM to grow at moderate CAGR of 11% over FY2019-22E, however, we expect operating parameter to improve at healthy rate owing to improvement in NIM, asset quality. We expect STFC to report RoA/RoE of 2.8%/17.3% in FY2021E. At CMP, the stock is trading at 1.6x FY2021E ABV and 8x FY2021E EPS, which we believe is reasonable for a differentiated business model with return ratios. We recommend a BUY on the stock with a Target Price of Rs 1,410.
... Read more
5-Feb-20
Price @ Call: 1047.4
Target: 1444
BUY

SRTRANSFIN Share Price Target - Broker Reports - 2019

7-Nov-19
Price @ Call: 1159.37
Target: 1332
BUY
At CMP of Rs. 1139, STFC is attractively priced trading at 1.2x FY21E BV and we initiate coverage on STFC with “BUY” recommendation and a target price of Rs. 1332 per share, which represents an upside potential of 17%.
... Read more
30-Oct-19
Price @ Call: 1164.4
Target: 1410
BUY
We expect STFC’s AUM to grow at CAGR of 11% over FY2019-21E primarily owing to (1) post-election government to increase spending on infra project (macro recovery), and (2) pre-buying of CV before the BS VI and consequently improvement in pricing of older vehicles to improve asset quality. We expect STFC to report RoA/RoE of 3%/18.3% in FY2021E. At CMP, the stock is trading at 1.2x FY2021E ABV and 7x FY2021E EPS, which we believe is reasonable for a differentiated business model with return ratios. We recommend a BUY on the stock with a Target Price of Rs 1,410
... Read more
26-Oct-19
Price @ Call: 1106.06
Target: 1523
BUY
SHTF’s growth moderated, as expected, in 2QFY20. Stable margins and higher used CV disbursals were positives, while the bump-up in GS-III disappointed. Maintain BUY (TP of Rs 1,523, 1.75x Sept-21E ABV of Rs 870). Our stance on SHTF remains unchanged after yet another in- line (albeit soft) qtr, with some silver linings (higher used CV disbursals, upbeat commentary on availability of funds). Commentary suggests that constraints imposed by availability of debt capital on SHTF’s growth, seem to be lifting (gradually). We continue to like SHTF’s niche presence in the used CV financing space, but are a tad weary of the possible 3-way merger within the group.
... Read more
27-Oct-19
Price @ Call: 1115.06
Target: 1441
BUY
While Management cited confidence of a better H2 SHTF on the back of good monsoon translating into better farm-related cash flows, possible pick-up in infrastructure activity and government initiatives boosting used CV demand, sustainable economic growth and stable funding is the key. With business trends and core operating profit showing signs of stability, SHTF can put up AUM growth at 15-16%, 7.3% NIMs and 210bps credit costs translating into 15% RoEs over FY20-22E. While our target price at Rs1,441 valued at 1.5x PABV Sep- 21E implies 50% discount to diversified CV player like CIFC, it also sufficiently incorporates market apprehensions. Maintain BUY.
... Read more
8-Aug-19
Price @ Call: 999.65
Target: 1385
BUY
We expect STFC’s AUM to grow at CAGR of 13% overFY2019-21E primarily owing to (1) post-election government to increase spending on infra project (macro recovery), and (2) pre-buying of CV before the BS VI will also improve the pricing of older vehicles. We expect STFC to report RoA/RoE to 2.7%/17.1% in FY2021E respectively. At CMP, the stock is trading at 1.2x FY2021E ABV and 7x FY2021E EPS, which we believe is reasonable for differentiated business model with return ratios. We recommend a BUY on the stock with a Target Price of `1,385.
... Read more
29-Jul-19
Price @ Call: 976
Target: 1375
BUY
An in line 1Q (with excusable seasonal trends) is a positive. Strong upcountry presence and focus on the niche used CV mkt give SHTF an edge over other asset financiers. Availability of funds and risks stemming from uncertain macros are monitorables. We reiterate that the possible 3-way merger within the group is undesirable from SHTF’s point of view. Maintain BUY with TP of Rs 1,375 (1.75x June-21E ABV of Rs 786).
... Read more
26-Jul-19
Price @ Call: 983.48
Target: 1300
BUY
The recent liquidity crisis has hit NBFCs hard and SHTF is no exception. Although the company diversified into newer sources like retail NCDs and ECBs, it has had to calibrate disbursements. As liquidity still remains tight, AUM growth is likely to pick up only in 2HFY20, in our view. Margins should be largely stable, while credit costs should settle at 2-2.2%. We keep our PAT estimates for FY20/FY21 largely unchanged. Maintain Buy with a TP of INR1,300 (1.4x FY21E BVPS).
... Read more
26-Jul-19
Price @ Call: 986.1
Target: 1375
BUY
Though soft growth impacted SHTF’s Q1FY20 performance, we envisage weak new vehicle demand to shift to used vehicles. This, coupled with SHTF’s niche positioning andsustained investment in building franchise, should lead to a relatively better H2FY20. We maintain ‘BUY/SO’.
... Read more
12-Jul-19
Price @ Call: 1043.65
Target: 1300
BUY
Over the past two quarters, SHTF calibrated disbursements and tweaked its product segment to manage growth and liquidity. As liquidity continues to remain tight, we expect AUM growth to remain sluggish. A pick-up in growth is likely to happen in CY20 only. Asset quality is a key monitorable – increase in write-offs as well as Stage 2 assets in the past two years has been a cause for concern. RoA/RoE is likely to trend at ~2.5%/~16% over the next three years. Buy with a target price of INR1,300 (1.4x June 2021 BV).
... Read more
27-May-19
Price @ Call: 1106.85
Target: 1470
BUY
We expect STFC’s AUM to grow at CAGR of 16% over FY2019-21E primarily owing to (1) post election government to increase spending on infra project (macro recovery), and (2) pre-buying of CV before the BS VI will also improve the pricing of older vehicles. We expect STFC to report RoA/RoE to 2.7%/17.6% in FY2021E respectively. At CMP, the stock is trading at 1.3x FY2021E ABV and 7x FY2021E EPS, which we believe is reasonable for differentiated business model with return ratios. We recommend a BUY on the stock with a Target Price of Rs 1,470.
... Read more
9-May-19
Price @ Call: 1027.9
Target: 1481
BUY
While Management stands confident of the used CV financing demand catching up on back of BSVI shift and rural penetration aiding growth, we continue to incorporate CV downcycle headwinds and foresee AUM growing at 15% YoY for FY20, 16% for FY21E, margin compression (7.6% in FY20, 7.4% in FY21) denting RoAs to 2.4%, RoEs to 16% by FY21E. PE exits and group level restructuring refer our recent note should remain an overhang on the stock. As trough valuations adequately price-in current apprehensions, we reiterate BUY, however, foresee multiple shrinking hence fine-tune our price target to Rs 1,481 (earlier Rs 1,568) valuing SHTF at 1.8x Mar-21 ABV (earlier 2.0x).
... Read more
22-Apr-19
Price @ Call: 1215
Target: 1568
BUY
We evaluated likely impact of a merger between Shriram Transport Finance (SHTF) and Shriram City Union Finance (SCUF) and believe that it will unlock value for shareholders. Merger of SHTF+SCUF would see holding company i.e. Shriram Capital getting listed as a full-fledged financial services firm spread across NBFC, housing and insurance arm and pave way for exit of PE players, thus removing overhang on valuations. Merger will drive synergy benefits given a loan book of ~Rs1326bn, lower concentration risks, diversified liability profile, increase in Tier I capital and can also improve credit ratings. We reiterate positive stance on the used CV financing business of SHTF at 1.4x PABV FY21E and believe SCUF merger can improve financial metrics. Retain BUY.
... Read more
2-Feb-19
Price @ Call: 1037.81
Target: 1486
BUY
30-Jan-19
Price @ Call: 1028
Target: 1400
BUY
We view SHTF to be at the cusp of an upcycle, after a tough business cycle and stringent regulation. Bulk of the loans generated is eligible for priority-sector lending, and hence, the company should be able to generate liquidity through sell-downs. Reiterate Buy with a target price of INR1,400 (1.6x December 2020 book value).
... Read more
30-Jan-19
Price @ Call: 1028
Target: 1657
BUY
While market challenges proved as a dampener on disbursals (used de-grew 18% YoY) and core AUMs reported mere 12% YoY, SHTF maintained decent earnings performance with PAT growing 17% YoY at Rs 6.4bn (PLe: Rs 6.1bn). Beat on numbers were largely driven by NII putting up healthy 15% YoY growth translating into healthy 17%+ YoY growth in PPoP indicating core metrics remaining strong for SHTF. While NIMs at 7.4% were maintained, funding costs pressures have been rightly compensated by rebound in asset quality w.r.t. absolute GNPAs declining (1.4% YoY) and credit costs reducing YoY and QoQ (22bps). While Management stands confident of the used CV financing demand catching up on the back of BSVI shift and operators cash flows remaining intact, we continue to incorporate market headwinds and foresee AUM growing at 14% YoY growth for FY19 and 16-17% over FY20-21E. margin pressures in FY19 (7.7% down from 7.9% in FY18, inching up to 7.9% over FY20-21E) getting offset by improving credit costs (2.4% in FY19 down from 3.7%in FY18; further declining to 2.1% by FY21E) and operating leverage (22-23% cost-income over FY19-21E). Despite spelling conservatism, RoAs that take a beating in FY19 to 2.6% (from 2.9% in FY18) enhancing to 2.7%- 2.8% over FY20-21E and RoEs ranging between 18-19% over FY19-21E reinforces our confidence in BS and sustainability of quality earnings ahead. At compelling valuations that adequately price-in most of the current apprehensions, we reiterate BUY with a price target at Rs1,657 valuing SHTF at 2.0x Sep-21 ABV.
... Read more

SRTRANSFIN Share Price Target - Broker Reports - 2018

29-Oct-18
Price @ Call: 1063.6
Target: 1544
BUY
27-Oct-18
Price @ Call: 1072.29
Target: 1660
BUY
26-Oct-18
Price @ Call: 1072.29
Target: 1351
BUY
10-Sep-18
Price @ Call: 1214.2
Target: 1324
ACCUMULATE
27-Jul-18
Price @ Call: 1420.92
Target: 1810
BUY
27-Jul-18
Price @ Call: 1409.8
Target: 1985
BUY
27-Jul-18
Price @ Call: 1409.8
Target: 1650
BUY
11-Jul-18
Price @ Call: 1206.35
Target: 1832
BUY
5-Jul-18
Price @ Call: 1163.03
Target: 1890
BUY
2-Jul-18
Price @ Call: 1298.95
Target: 1760
BUY
27-Apr-18
Price @ Call: 1622.55
Target: 1822
BUY
2-May-18
Price @ Call: 1616.9
Target: 1985
BUY
27-Apr-18
Price @ Call: 1622.55
Target: 1950
BUY
19-Apr-18
Price @ Call: 1582.25
Target: 1951
BUY
9-Apr-18
Price @ Call: 1581.84
Target: 1925
BUY
30-Jan-18
Price @ Call: 1379.16
Target: 1705
BUY
29-Jan-18
Price @ Call: 1453.73
Target: 1740
BUY
28-Jan-18
Price @ Call: 1440.05
Target: 1750
BUY
8-Jan-18
Price @ Call: 1499.19
Target: 1820
BUY

SRTRANSFIN Share Price Target - Broker Reports - 2017

23-Nov-17
Price @ Call: 1246.2
Target: 1475
ACCUMULATE
8-Nov-17
Price @ Call: 1288
Target: 1380
BUY
1-Nov-17
Price @ Call: 1194.93
Target: 1402
BUY
3-Nov-17
Price @ Call: 1297.71
Target: 1445
BUY
2-Nov-17
Price @ Call: 1197.15
Target: 1510
BUY
1-Aug-17
Price @ Call: 1018
Target: 1200
BUY
31-Jul-17
Price @ Call: 1017
Target: 1307
BUY
31-Jul-17
Price @ Call: 1018
Target: 1330
BUY
22-Jun-17
Price @ Call: 997.5
Target: 1159
BUY
5-May-17
Price @ Call: 1010.69
Target: 1130
HOLD
27-Apr-17
Price @ Call: 1044
Target: 1269
BUY
27-Apr-17
Price @ Call: 1041
Target: 1334
BUY
10-Apr-17
Price @ Call: 1086
Target: 1366
BUY
7-Feb-17
Price @ Call: 955
Target: 1040
HOLD
31-Jan-17
Price @ Call: 954.75
Target: 1200
HOLD
10-Jan-17
Price @ Call: 930
Target: 1096
ACCUMULATE

SRTRANSFIN Share Price Target - Broker Reports - 2016

28-Oct-16
Price @ Call: 1093
Target: 1315
BUY
25-Oct-16
Price @ Call: 1153.77
Target: 1464
BUY
30-Sep-16
Price @ Call: 1162
Target: 1439
BUY
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  • SRTRANSFIN Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,435
    Upside Target 21,410
    Upside Target 11,396.55
    Pivot1,371.55
    Downside Target 11,358.1
    Downside Target 21,333.1
    Downside Target 31,319.65
  • SRTRANSFIN Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,536.03
    Upside Target 21,480.97
    Upside Target 11,420.88
    Pivot1,365.82
    Downside Target 11,305.73
    Downside Target 21,250.67
    Downside Target 31,190.58
  • SRTRANSFIN Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,663.8
    Upside Target 21,546.9
    Upside Target 11,449.8
    Pivot1,332.9
    Downside Target 11,235.8
    Downside Target 21,118.9
    Downside Target 31,021.8
  • SRTRANSFIN Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,410
    Upside Target 21,395.31
    Upside Target 11,386.24
    Pivot1,371.55
    Downside Target 11,356.86
    Downside Target 21,347.79
    Downside Target 31,333.1
  • SRTRANSFIN Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,480.97
    Upside Target 21,436.98
    Upside Target 11,409.8
    Pivot1,365.82
    Downside Target 11,321.83
    Downside Target 21,294.65
    Downside Target 31,250.67
  • SRTRANSFIN Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,546.9
    Upside Target 21,465.15
    Upside Target 11,414.65
    Pivot1,332.9
    Downside Target 11,251.15
    Downside Target 21,200.65
    Downside Target 31,118.9
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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