Sharekhan's research report on Can Fin Homes
Can Fin Homes reported better-than-expected earnings led by minimal provisions despite higher opex costs but business momentum remained muted for the third consecutive quarter. Disbursements fell by 9% y-o-y/up 23% q-o-q (below estimate). Loans grew by 11% y-o-y/ 3% q-o-q. The company guided that focus now is on accelerating growth as most internal systems and processes have been streamlined. Asset quality trends were stable.
Outlook
Stock trades at 2.0x/1.7x its FY2025E/FY2026E ABV estimates. We maintain Buy rating with an unchanged PT of Rs. 960.
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