Edelweiss' research report on Capital First
Capital First (CAFL) clocked decent Q1FY18 performance—PAT at INR603mn jumped ~33% YoY driven by sustained momentum on the revenue front (up >45% YoY). This was on account of: margin expansion, given benefit of capital raising & shift in loan mix; and robust AUM spurt (up >24% YoY) due to sustained traction in the retail book (up >30% YoY).
Outlook
we expect the stock to re-rate further on consistent earnings delivery. We maintain ‘BUY/SO’ with target price of INR927.
For all recommendations report, click here
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