External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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Equity Bottom-Up

<ul><li>Poonawalla Fincorp (PFL), in its board meeting held on 14-Dec-2022, approved the sale of its housing finance subsidiary – Poonawalla Housing Finance (PHFL) – to TPG (Perseus SG Pte., an entity affiliated with TPG Global, LLC).</li><li>The deal has been struck at Rs39bn, which values PHFL at a trailing Sep-22 P/BVPS of 3.4x.</li><li>This is broadly in line with our TP implied trailing Sep-22 valuation of 3.3x for the consolidated entity.</li></ul><p><em>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.</em></p>

Poonawalla Fincorp (PFL), in its board meeting held on 14-Dec-2022, approved the sale of its housing finance subsidiary – Poonawalla Housing Finance (PHFL) – to TPG (Perseus SG Pte., an entity affiliated with TPG Global, LLC).The deal has been struck at Rs39bn, which values PHFL at a trailing Sep-22 P/BVPS of 3.4x.This is broadly in line with our TP implied trailing Sep-22 valuation of 3.3x for the consolidated entity.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.

Poonawalla Fincorp (PFL) - Sale of Housing Finance Subsidiary to TPG

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<ul><li><span style="font-size: var(--content-font-size);">Organic disbursements at Rs22bn and inorganic disbursements stood at Rs11.4bn.</span></li></ul><div><div><div><ul><li>March’22 disbursement of pre-owned cars stood at Rs1.65bn (entered leadership position); LTP March’22 disbursements stood at Rs1bn (entered leadership position) and SME LAP March’22 disbursement stood at Rs1bn.</li></ul><div><div><div><ul><li>Added digital consumption loan product to the retail product portfolio through the partnership mode.</li></ul></div></div></div></div></div></div><p><em>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.</em></p>

Organic disbursements at Rs22bn and inorganic disbursements stood at Rs11.4bn.March’22 disbursement of pre-owned cars stood at Rs1.65bn (entered leadership position); LTP March’22 disbursements stood at Rs1bn (entered leadership position) and SME LAP March’22 disbursement stood at Rs1bn.Added digital consumption loan product to the retail product portfolio through the partnership mode.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.

Poonawalla Fincorp - Execution & Asset Quality Improve; Upgrade to Buy

India

Poonawalla Fincorp Limited operates as a non-banking finance company. The Company offers business, personal, pre-owned car, and home loan products and services, as well as loan against property and insurance solutions. Poonawalla Fincorp serves customers in India.

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Poonawalla Fincorp (POONAWAL IN)

Poonawalla Fincorp (PFL) - Sale of Housing Finance Subsidiary to TPG

The deal has been struck at Rs39bn, which values PHFL at a trailing Sep-22 P/BVPS of 3.4x. This is broadly in line with our TP implied trailing Sep...

Emkay

Poonawalla Fincorp - Execution & Asset Quality Improve; Upgrade to Buy

Poonawalla Fincorp (PFL) reported PAT of Rs1.2bn, ahead of our estimate due to write- back of excess provisions, which were partially offset by...

Nirmal Bang

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