ThinkStock PhotosSharekhan by BNP Paribas has buy call on Can Fin Homes with a target price of Rs 670. The current market price of Can Fin Homes is Rs 532.7.
Can Fin Homes, incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 7065.16 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
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 believes Can Fin Homes could outperform in the near term as and when the announcement of its new MD/CEO happens. The company has shared that identification of the new MD/CEO is in an advanced stage. The new MD/CEO is likely from the housing finance sector and the announcement would be made before FY2023 ends. Business momentum continues to remain healthy amid a strong demand environment; however, compression in NIM is expected in H2FY2023. Thus, the brokerage expects the company to report margin of 3.4-3.5% in H2FY2023 vs. ~3.6% in H1FY2023. Can Fin Homes is expected to deliver ROA/RoE of 1.9%/17% over FY2022-FY2025E. At the CMP, the stock trades at 1.9x/1.6x/1.4x its FY2023E/FY2024E/FY2025E ABV, respectively.
Promoter/FII Holdings
Promoters held 29.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 0.0 per cent, DIIs 24.79 per cent.
Can Fin Homes, incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 7065.16 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 believes Can Fin Homes could outperform in the near term as and when the announcement of its new MD/CEO happens. The company has shared that identification of the new MD/CEO is in an advanced stage. The new MD/CEO is likely from the housing finance sector and the announcement would be made before FY2023 ends. Business momentum continues to remain healthy amid a strong demand environment; however, compression in NIM is expected in H2FY2023. Thus, the brokerage expects the company to report margin of 3.4-3.5% in H2FY2023 vs. ~3.6% in H1FY2023. Can Fin Homes is expected to deliver ROA/RoE of 1.9%/17% over FY2022-FY2025E. At the CMP, the stock trades at 1.9x/1.6x/1.4x its FY2023E/FY2024E/FY2025E ABV, respectively.
Promoter/FII Holdings
Promoters held 29.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 0.0 per cent, DIIs 24.79 per cent.
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