External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Motilal Oswal's research report onCan Fin Homes CANF’s 4QFY24 PAT grew 26% YoY to ~INR2.1b (in line) and NII grew 25% YoY to INR3.3b (in line).</li><li>FY24 PAT rose 21% YoY to INR7.5b and the company reported FY24 RoA/RoE of 2.2%/18.8%.</li><li>Opex grew 39% YoY to INR 720m (39% above MOFSLe).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Motilal Oswal's research report onCan Fin Homes CANF’s 4QFY24 PAT grew 26% YoY to ~INR2.1b (in line) and NII grew 25% YoY to INR3.3b (in line).FY24 PAT rose 21% YoY to INR7.5b and the company reported FY24 RoA/RoE of 2.2%/18.8%.Opex grew 39% YoY to INR 720m (39% above MOFSLe).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes - In Line Earnings; Disbursements Muted but Picking up Pace

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CANF’s disbursement de-grew by ~9% YoY but grew by ~23% QoQ. AUM growth was slowest in 11 quarters, registering a growth of ~11/3% YoY/QoQ.</li><li>Slower operating performance was on the back of process revamping and upgrades. The share of salaried customers remained steady at ~72%.</li><li>CANF will focus on pursuing growth in the SE&amp;P segment while maintaining a mix of Salaried and SE&amp;P at 70:30.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CANF’s disbursement de-grew by ~9% YoY but grew by ~23% QoQ. AUM growth was slowest in 11 quarters, registering a growth of ~11/3% YoY/QoQ.Slower operating performance was on the back of process revamping and upgrades. The share of salaried customers remained steady at ~72%.CANF will focus on pursuing growth in the SE&amp;P segment while maintaining a mix of Salaried and SE&amp;P at 70:30.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd. - Growth Recovery Slower than Expected!

<ul><li>CANF’s disbursements de-grew by 23/7% YoY/QoQ. AUM growth was marginally lower than expected at 13/2% YoY/QoQ. T</li><li>he share of salaried borrowers was steady at 72%.</li><li>NII grew by 31/4% YoY. Yields improved by 8bps QoQ, owing to the last tranch of loan repricing, while CoF remained largely steady.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CANF’s disbursements de-grew by 23/7% YoY/QoQ. AUM growth was marginally lower than expected at 13/2% YoY/QoQ. The share of salaried borrowers was steady at 72%.NII grew by 31/4% YoY. Yields improved by 8bps QoQ, owing to the last tranch of loan repricing, while CoF remained largely steady.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd - Mixed Bag Quarter; Eyeing 2x AUM Over Medium Term!

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CANF has embarked on a journey to strengthen its governance framework and add new pillars to drive its next leg of sustainable and profitable growth</li><li>CANF has historically been one of the most durable franchises delivering healthy growth (25% AUM CAGR during FY11-FY23) and steady earnings (25% earnings CAGR during the same period)</li><li>We believe that the recent incidence of fraud at one of the branches was an outlier event with the necessary corrective actions in place to mitigate the operational risk</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CANF has embarked on a journey to strengthen its governance framework and add new pillars to drive its next leg of sustainable and profitable growthCANF has historically been one of the most durable franchises delivering healthy growth (25% AUM CAGR during FY11-FY23) and steady earnings (25% earnings CAGR during the same period)We believe that the recent incidence of fraud at one of the branches was an outlier event with the necessary corrective actions in place to mitigate the operational riskContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes: Fixing for Governance, Building for Durability. Maintain BUY

Thematic (Sector/Industry)

<ul><li>SBI Life Insurance: SBILIFE’s H1FY25 VNB printed at INR24.2bn (+2.5% YoY), as the VNB margin softened to 26.8% (-180bps YoY) on the back of a higher share of ULIP in the overall APE mix at 69% (H1FY24: 64%)</li><li>Based on the management commentary, we maintain our APE growth forecast (+14% YoY), driven by sustained growth in individual business, and a weak Q4FY24 in the base</li><li>Our high conviction BUY is anchored on three powerful and sustainable moats: (a) exclusive access to SBI’s massive distribution network (branch penetration at ~2%), (b) scope for improvement in margin-accretive traditional mix, and (c) cost leadership (excl renewal comm)/APE ratio among peers (H1FY25: 37.1%, H1FY24: 36.3%)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SBI Life Insurance: SBILIFE’s H1FY25 VNB printed at INR24.2bn (+2.5% YoY), as the VNB margin softened to 26.8% (-180bps YoY) on the back of a higher share of ULIP in the overall APE mix at 69% (H1FY24: 64%)Based on the management commentary, we maintain our APE growth forecast (+14% YoY), driven by sustained growth in individual business, and a weak Q4FY24 in the baseOur high conviction BUY is anchored on three powerful and sustainable moats: (a) exclusive access to SBI’s massive distribution network (branch penetration at ~2%), (b) scope for improvement in margin-accretive traditional mix, and (c) cost leadership (excl renewal comm)/APE ratio among peers (H1FY25: 37.1%, H1FY24: 36.3%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: SBI Life Insurance, Godrej Properties, SRF, AU Small Finance Bank

India

Can Fin Homes Ltd provides housing finance.  The company offers long term housing loans to middle and lower income individuals or corporate bodies for construction and acquiring houses/flats.

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Can Fin Homes (CANF IN)

Can Fin Homes - In Line Earnings; Disbursements Muted but Picking up Pace

Motilal Oswal's research report onCan Fin Homes CANF’s 4QFY24 PAT grew 26% YoY to ~INR2.1b (in line) and NII grew 25% YoY to INR3.3b (in line).

Motilal Oswal

Can Fin Homes Ltd. - Growth Recovery Slower than Expected!

CANF’s disbursement de-grew by ~9% YoY but grew by ~23% QoQ. AUM growth was slowest in 11 quarters, registering a growth of ~11/3% YoY/QoQ.

Axis Direct

Can Fin Homes Ltd - Mixed Bag Quarter; Eyeing 2x AUM Over Medium Term!

CANF’s disbursements de-grew by 23/7% YoY/QoQ. AUM growth was marginally lower than expected at 13/2% YoY/QoQ. The share of salaried borrowers was...

Axis Direct

Can Fin Homes: Fixing for Governance, Building for Durability. Maintain BUY

CANF has embarked on a journey to strengthen its governance framework and add new pillars to drive its next leg of sustainable and profitable growth

HDFC Securities

HSIE Results Daily: SBI Life Insurance, Godrej Properties, SRF, AU Small Finance Bank

SBILIFE’s H1FY25 VNB printed at INR24.2bn (+2.5% YoY), as the VNB margin softened to 26.8% (-180bps YoY) on the back of a higher share of ULIP in...

HDFC Securities

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