Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 36743.48 Crore).
Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 1569.01 Crore, down -18.47 % from last quarter Total Income of Rs 1924.53 Crore and up 14.81 % from last year same quarter Total Income of Rs 1366.60 Crore. The bank reported net profit after tax of Rs 168.98 Crore in latest quarter.
Investment Rationale
Journey to become a pan-India retail bank remained on track with AU entering five new states and addition of >5,000 new members to further strengthen and fortify its workforce. It made significant strides towards becoming a tech-led bank (digital opening of >90% of accounts, paperless two-wheeler loans, and launch of AU 0101 super app). The brokerage maintains ADD with a revised target price of Rs1,250 (earlier Rs1,140).
Promoter/FII Holdings
Promoters held 28.4 per cent stake in the company as of June 30, 2021, while FIIs held 37.3 per cent, DIIs 16 per cent and public and others 18.3 per cent.
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