Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: A-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

LIC Housing Finance – No NCOs Whatsoever?

Kotak Mahindra Bank – Watch Your Costs Too

LICHF: Strong Earnings In Line With Our Thesis

LIC Housing Finance – Unmitigated Disaster

LICHF: Poor Show, But It Is Always the Darkest Before the Dawn

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/lic-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:15667:1" rel="noopener">LIC Housing Finance (LICHF IN)</a> reported weak Q2FY22 earnings led by the steep rise in the OTR book. OTR is One Time Restructuring scheme offered by RBI during COVID. OTR 1.0 came during the first wave while the OTR 2.0 was announced during the second wave. As many of the OTR 2.0 requests got processed during Q2FY22, the steep rise in OTR assets for LICHF and consequent impact on earnings was reflected in Q2FY22. However, some of the OTR led impact on earnings is likely to come back with up-gradation of these assets. Let us dive deeper below the fold.</p>

LIC Housing Finance (LICHF IN) reported weak Q2FY22 earnings led by the steep rise in the OTR book. OTR is One Time Restructuring scheme offered by RBI during COVID. OTR 1.0 came during the first wave while the OTR 2.0 was announced during the second wave. As many of the OTR 2.0 requests got processed during Q2FY22, the steep rise in OTR assets for LICHF and consequent impact on earnings was reflected in Q2FY22. However, some of the OTR led impact on earnings is likely to come back with up-gradation of these assets. Let us dive deeper below the fold.

LICHF: OTR 2.0 Upended Q2FY22 Earnings, But the Worst Is Behind Us