Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 59883.02 Crore) operating in NBFC sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 3118.98 Crore, up 3.40 % from last quarter Total Income of Rs 3016.43 Crore and up 18.43 % from last year same quarter Total Income of Rs 2633.58 Crore. Company reported net profit after tax of Rs 1023.76 Crore in latest quarter.
Investment Rationale
RoA/RoE is likely to remain robust (6.6%/24%) over the medium term. On account of a longer than initially anticipated second COVID wave, the brokerage cuts FY22E/FY23E EPS estimate by ~6%/2%. It reiterates Buy rating with a TP of INR1,825/share (3.2x FY23E BVPS).
Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of June 30, 2021, while FIIs held 15 per cent, DIIs 7.7 per cent and public and other 3.9 per cent.
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