Shutterstock.comPrabhudas Lilladher has buy call on Manappuram Finance Ltd. with a target price of Rs 144. The current market price of Manappuram Finance is Rs 117.6.
Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 9907.05 Crore) operating in NBFC sector.
Manappuram Finance Ltd. key Products/Revenue Segments include Interest, Other Operating Revenue, Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1714.12 Crore, up 14.07 % from last quarter Total Income of Rs 1502.73 Crore and up 10.27 % from last year same quarter Total Income of Rs 1554.42 Crore. Company reported net profit after tax of Rs 409.48 Crore in latest quarter.
Investment Rationale
The brokerage reiterates ‘BUY’ rating as valuation continues to be attractive at 1.0x FY24 P/ABV with price target raised to Rs 144 from Rs126, valuing the consolidated book at 1.1x PABV Sep’24E.
Promoter/FII Holdings
Promoters held 35.15 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.91 per cent, DIIs 13.5 per cent.
Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 9907.05 Crore) operating in NBFC sector.
Manappuram Finance Ltd. key Products/Revenue Segments include Interest, Other Operating Revenue, Fees & Commission Income for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1714.12 Crore, up 14.07 % from last quarter Total Income of Rs 1502.73 Crore and up 10.27 % from last year same quarter Total Income of Rs 1554.42 Crore. Company reported net profit after tax of Rs 409.48 Crore in latest quarter.
Investment Rationale
The brokerage reiterates ‘BUY’ rating as valuation continues to be attractive at 1.0x FY24 P/ABV with price target raised to Rs 144 from Rs126, valuing the consolidated book at 1.1x PABV Sep’24E.
Promoter/FII Holdings
Promoters held 35.15 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.91 per cent, DIIs 13.5 per cent.
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