Q4 saw a pick-up in business momentum, as disbursements grew by 6.1% y-o-y/30.7% (y-o-y/q-o-q). AUM grew by 9.2%/2.9% (y-o-y/q-o-q). Asset quality remained broadly stable. Earnings were marginally higher than estimates driven by a lower effective tax rate. The management has guided for a disbursement growth of ~20% and loan growth of ~15% in FY26 as the e-khata issue is gradually resolving in Karnataka and the Telangana issue seems to be bottoming out as well. At CMP, the stock trades at 1.6x/1.4X its FY2026E/FY2027 BV.
OutlookWe maintain buy rating with an unchanged PT of Rs. 850 on the back of improving growth outlook. Valuations are reasonable.
For all recommendations report, click hereDisclaimer: 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.
Can Fin Homes - 29042025 - khanDiscover 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.
