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

Equitas Small Finance Bank  / Equity Bottom-Up

<ul><li>Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward the MFI segment (INR1b toward SMA 1&amp;2 advances and INR456m toward an additional NPA provision).</li><li>NII grew 4.8% YoY to INR8.02b (3% miss).</li><li>Margins moderated 28bp QoQ to 7.69%.</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.

Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward the MFI segment (INR1b toward SMA 1&amp;2 advances and INR456m toward an additional NPA provision).NII grew 4.8% YoY to INR8.02b (3% miss).Margins moderated 28bp QoQ to 7.69%.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.

Equitas Small Finance - PPoP in Line; Provisioning Surge Drives Big Earnings Miss

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>MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.</li><li>However, the management has indicated that the X-bucket Collection efficiency in Oct’24 has stabilised and expects similar trends to continue over the next 2 quarters.</li><li>However, the slippages and asset quality (AQ) stress in the MFI portfolio will continue to remain elevated in H2FY25, thereby keeping MFI credit costs elevated. </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.

MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.However, the management has indicated that the X-bucket Collection efficiency in Oct’24 has stabilised and expects similar trends to continue over the next 2 quarters.However, the slippages and asset quality (AQ) stress in the MFI portfolio will continue to remain elevated in H2FY25, thereby keeping MFI credit costs elevated. 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.

Equitas Small Finance Bank Ltd. - Asset Quality Outlook Unencouraging, HOLD Stays!

<ul><li>Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in deposits from FY22-FY24.</li><li>This growth has improved the bank's CD ratio from 102% in FY22 to 86% currently, and increased the retail deposit mix to 69%.</li><li>The ongoing stress in the MFI segment has impacted profitability, but MFI business exposure has reduced to ~17% from 19% in FY22.</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.

Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in deposits from FY22-FY24.This growth has improved the bank's CD ratio from 102% in FY22 to 86% currently, and increased the retail deposit mix to 69%.The ongoing stress in the MFI segment has impacted profitability, but MFI business exposure has reduced to ~17% from 19% in FY22.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.

Equitas Small Finance Bank - Factoring in Near-Term Pain!

<ul><li>Motilal Oswal's research report on Equitas Small Finance Equitas SFB (EQUITASB) reported a 1QFY25 PAT of ~INR0.3b (-87% YoY), 85% lower than MOFSLe amid higher floating provisions, as the bank reduced its NNPA to &lt;1% and raised PCR to &gt;70%.</li><li>These were done to gain eligibility for a universal banking license.</li><li>PPoP otherwise stood in line.</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 on Equitas Small Finance Equitas SFB (EQUITASB) reported a 1QFY25 PAT of ~INR0.3b (-87% YoY), 85% lower than MOFSLe amid higher floating provisions, as the bank reduced its NNPA to &lt;1% and raised PCR to &gt;70%.These were done to gain eligibility for a universal banking license.PPoP otherwise stood in line.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.

Equitas Small Finance - PPoP in Line; Earnings Miss Due to Higher Floating Provisions

<ul><li>Disbursements de-grew sharply by 15/21% YoY/QoQ, owing to degrowth across most segments with growth impacted by general elections, extended heatwaves and business seasonality.</li><li>Advances grew by 18/2% YoY/QoQ, with growth led by SBL (+27/5% YoY/QoQ) and Home Loans (35/4% YoY/QoQ).</li><li>MFI portfolio growth was weak at 6% YoY and de-grew by 5% QoQ. </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.

Disbursements de-grew sharply by 15/21% YoY/QoQ, owing to degrowth across most segments with growth impacted by general elections, extended heatwaves and business seasonality.Advances grew by 18/2% YoY/QoQ, with growth led by SBL (+27/5% YoY/QoQ) and Home Loans (35/4% YoY/QoQ).MFI portfolio growth was weak at 6% YoY and de-grew by 5% QoQ. 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.

Equitas Small Finance Bank Ltd - Asset Quality Headwinds To Hinder Growth

India

Equitas Small Finance Bank Limited operates as a bank. The Bank offers savings accounts, fixed deposits, loans, debit and credit cards, investment, insurance, online services, and other related activities. Equitas Small Finance Bank serves clients in India.

Equitas Small Finance Bank  (EQUITASB IN)

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Equitas Small Finance Bank (EQUITASB IN)

Equitas Small Finance - PPoP in Line; Provisioning Surge Drives Big Earnings Miss

Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward...

Motilal Oswal

Equitas Small Finance Bank Ltd. - Asset Quality Outlook Unencouraging, HOLD Stays!

MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.

Axis Direct

Equitas Small Finance Bank - Factoring in Near-Term Pain!

Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in...

Motilal Oswal

Equitas Small Finance - PPoP in Line; Earnings Miss Due to Higher Floating Provisions

Motilal Oswal's research report on Equitas Small Finance Equitas SFB (EQUITASB) reported a 1QFY25 PAT of ~INR0.3b (-87% YoY), 85% lower than MOFSLe...

Motilal Oswal

Equitas Small Finance Bank Ltd - Asset Quality Headwinds To Hinder Growth

MFI portfolio growth was weak at 6% YoY and de-grew by 5% QoQ. Deposits growth was robust at 35/4% YoY/QoQ, primarily led by growth in TDs (+51/5%...

Axis Direct

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