Motilal Oswal's research report on 360ONE WAM
In 4QFY24, 360ONE’s total revenue grew 46% YoY to INR5.7b (25% above our estimates). The beat was on account of a surge in TBR income (109% above our estimates), which jumped 91% YoY. Total AUM rose 37% YoY to INR4.67t, with strong growth in both ARR and TBR assets.
Total opex jumped 62% YoY to ~INR3b, which was 26% higher than our estimates, led by higher variable employee costs. The cost-to-income
ratio rose ~520bp YoY to 52.3% (vs. our est. of 51.9%).
Outlook
We retain our BUY rating with a one-year TP of INR950 (based on 30x Mar’26E EPS).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
