External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory 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.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory 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>Fusion Finance (Fusion) has bolstered its balance sheet by upping its provision cover across Stage-1/2/3 assets and de-recognising interest income on Stage-3 assets.</li><li>Yet, PAR 0+ at 19% (one of the highest within MFI space) casts a shadow on near-term profitability.</li><li>It recovered interest income to the tune of ~INR 1bn in Q3FY25, resulting in total interest income plunging 30% QoQ to INR 4.4bn vs.</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>

Fusion Finance (Fusion) has bolstered its balance sheet by upping its provision cover across Stage-1/2/3 assets and de-recognising interest income on Stage-3 assets.Yet, PAR 0+ at 19% (one of the highest within MFI space) casts a shadow on near-term profitability.It recovered interest income to the tune of ~INR 1bn in Q3FY25, resulting in total interest income plunging 30% QoQ to INR 4.4bn vs.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.

Fusion Finance - Weak Financial Performance Continues

Fusion Micro Finance

Fusion Finance - Weak Financial Performance Continues