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

Emkay

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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. 

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

Ujjivan Small Finance Bank  / Equity Bottom-Up

Ujjivan Small Finance Bank  (UJJIVANS IN)

<ul><li>Ujjivan SFB reported 24% PAT miss at Rs2.3bn, mainly due to lower other income and higher provisions, as stress in MFI accelerates.</li><li>Bank’s AUM growth moderated to 14% YoY/1% QoQ (net credit growth at 20% YoY), as it continued with its cautious growth strategy in MFI as initiated in 1Q.</li><li>However, the bank remains focused on accelerating secured loan growth with its share now at 35% from 31% in Q1; it hopes to achieve 40% by Mar-25. This should weigh on margins, while LLP should remain elevated with hopes of some asset quality normalization by 4Q.</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>

Ujjivan SFB reported 24% PAT miss at Rs2.3bn, mainly due to lower other income and higher provisions, as stress in MFI accelerates.Bank’s AUM growth moderated to 14% YoY/1% QoQ (net credit growth at 20% YoY), as it continued with its cautious growth strategy in MFI as initiated in 1Q.However, the bank remains focused on accelerating secured loan growth with its share now at 35% from 31% in Q1; it hopes to achieve 40% by Mar-25. This should weigh on margins, while LLP should remain elevated with hopes of some asset quality normalization by 4Q.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.

Ujjivan Small Finance Bank - Higher MFI Stress Dents Earning