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Buy Muthoot Finance; target of Rs 1725: Motilal Oswal

Motilal Oswal is bullish on Muthoot Finance recommended buy rating on the stock with a target price of Rs 1725 in its research report dated Jun 02, 2021.

June 08, 2021 / 06:38 PM IST
 
 
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Motilal Oswal's research report on Muthoot Finance


PAT grew 22% YoY to INR10b in 4QFY21, in line with our estimate. Strong loan growth, despite falling gold prices, was the key surprise in 4QFY21. The company delivered 26% gold loan growth in FY21. NII/PPOP/PAT growth was also healthy at 15%/23%/23%. On account of the strong performance, we upgrade our FY22E/FY23E EPS estimate by 3-4%.


Outlook


We maintain our Buy rating with a TP of INR1,725/share (3x FY23E BVPS).


For all recommendations report, click here


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first published: Jun 7, 2021 01:58 pm

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