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Buy Can Fin Homes: target of Rs 712: Sharekhan

Sharekhan is bullish on Can Fin Homes has recommended buy rating on the stock with a target price of Rs 712 in its research report dated December 03, 2021.

December 06, 2021 / 02:07 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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Sharekhan's research report on Can Fin Homes

Can Fin Homes commands higher valuations led by superior asset quality with best underwriting practices. Inherent, to the company’s strategy it largely caters to salaried customers in metros and Tier-I/II cities. This makes its customer segment less risky with average ticket size of Rs. 21.02 lakh and ~74% of its customers are salaried and professionals. It competes with large HFCs and public/ private sector banks. We believe Can Fin Homes is one of the favoured plays among affordable/ mid size housing financiers with a healthy loan book growth and steady spreads going ahead. The company’s ability to recover market share through differential pricing for customer segments/ geographies, makes it a preferred play in the affordable space.


We re-initiate coverage on Can Fin Homes with a Buy rating and PT of Rs. 712. At CMP, CFHL trades at 2.3x of FY23E P/BV.


For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Dec 6, 2021 02:07 pm

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