IDFC First Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 37920.06 Crore).
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 4835.86 Crore, up 18.49 % from last quarter Total Income of Rs 4081.34 Crore and up 1.21 % from last year same quarter Total Income of Rs 4778.21 Crore. The bank reported net profit after tax of Rs 137.15 Crore in latest quarter.
Investment Rationale
The brokerage believes efforts to built liability franchise, fresh capital infusion and provision taken on wholesale book will help to tide over this difficult time. The IDFC First Bank is trading ( 0.7 x FY22ABV) at a significant discount to historical average valuations.
Promoter/FII Holdings
Promoters held 40 per cent stake in the company as of March 31, 2020, while FIIs held 13.56 per cent, DIIs 9.85 and public and others 36.59 per cent.
