Buy Repco Home Finance; target of Rs 330: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Repco Home Finance

Repco Home Finance Limited (Repco) posted strong performance in Q3FY2021; healthy operational numbers, margin improvement, better collections, and growth in commentary were key positives. Healthy business traction with Q3FY2021 disbursement up 18% q-o-q; Encouraging asset-quality performance with reported GS3/proforma GS3 at 3.3%/4.3% (manageable gap), with 97% collection efficiency (up from 93% September levels) and low restructuring. Available at 0.9x/0.8x its FY2022E/FY2023E, which we believe is reasonable; a strong business model, stable ratings, and conservative underwriting with attractive return ratios make RHFL attractive.

Outlook

Management commentary is positive. We maintain Buy with unchanged PT of Rs. 330.

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