Financial Services

Valuation
Company Industry Analyst Rating MktCap
(US$bn)		 Price Target
Price		 Up/
down (%)		 CORE EPS EPS Growth (%) PER (x) P/Bk (x) EV/EBITDA (x) Yield (%) ROAE (%)
FY24 FY25F FY26F FY25F FY26F FY25F FY26F FY25F FY26F FY25F FY25F FY25F
Aavas Financiers Ltd BFSI Meghna LUTHRA ADD 1.5 1,633 2,100 28.6% 62.1 72.5 80.3 16.9% 10.7% 23.82 21.51 2.96 2.58 0.00 0.00% 14.1%
Aditya Birla Sunlife AMC Financial Services - AMCs Meghna LUTHRA ADD 2.8 847 1,000 18.0% 26.9 32.1 39.3 19.4% 22.5% 27.27 22.27 6.59 5.91 0.00 2.83% 27.0%
AU Small Finance Bank Banks Bhavik Shah ADD 6.0 707 880 24.5% 2.4 2.8 3.4 16.9% 21.5% 243.06 200.09 30.65 26.74 0.00 0.14% 14.2%
Axis Bank Banks Bhavik Shah ADD 38.8 1,105 1,430 29.4% 40.3 42.6 41.4 5.7% (2.8%) 23.76 24.44 3.81 3.33 0.00 0.09% 15.9%
Bajaj Finance Ltd BFSI Meghna LUTHRA ADD 70.7 1,003 1,100 9.6% 233.8 268.0 66.7 14.6% (75.1%) 3.55 14.27 0.64 2.72 0.00 5.58% 19.2%
Bank of Baroda Banks Bhavik Shah REDUCE 13.9 237 240 1.2% 34.4 38.7 30.9 12.7% (20.3%) 6.37 7.99 0.90 0.83 0.00 3.52% 16.1%
Bank of India Banks Bhavik Shah HOLD 6.1 117 115 (1.8)% 13.9 20.2 16.4 45.9% (18.9%) 5.51 6.79 0.68 0.63 0.00 3.41% 12.5%
Canara Bank Banks Bhavik Shah ADD 11.4 111 127 14.0% 16.0 18.8 15.8 17.0% (15.7%) 5.03 5.96 1.01 0.91 0.00 3.60% 18.2%
Cholamandalam Investment and Finance Company Financial Services - Overall Meghna LUTHRA HOLD 14.4 1,512 1,500 (0.8)% 40.7 50.6 62.6 24.3% 23.7% 28.51 23.04 5.38 4.49 0.00 0.13% 19.7%
CreditAccess Grameen Ltd BFSI Jignesh SHIAL ADD 2.3 1,295 765 (40.9)% 0.0 0.0 0.0 0.0% 0.0% 0.00 0.00 0.00 0.00 0.00 0.00% 0.0%
Equitas Small Finance Bank Limited Financial Services - Overall Jignesh SHIAL ADD 0.7 55 65 18.2% 0.0 0.0 0.0 0.0% 0.0% 0.00 0.00 0.00 0.00 0.00 0.00% 0.0%
Federal Bank Banks Bhavik Shah HOLD 5.4 194 210 8.1% 15.3 16.5 14.0 8.0% (15.2%) 11.88 14.01 1.43 1.29 0.00 0.62% 13.0%
Fusion Finance Limited BFSI Jignesh SHIAL NOT RATED 0.3 186 270 45.0% 50.3 8.6 34.3 (82.9%) 299.7% 28.64 7.17 0.64 0.57 0.00 0.00% 3.0%
HDFC AMC BFSI Meghna LUTHRA HOLD 14.1 5,799 5,600 (3.4)% 91.3 115.4 153.3 26.5% 32.8% 47.73 35.94 15.20 18.10 0.00 1.55% 32.4%
HDFC Bank Banks Bhavik Shah ADD 168.2 967 1,125 16.3% 80.0 88.0 47.3 9.9% (46.2%) 10.88 20.24 1.48 2.66 0.00 1.14% 14.3%
Home First Finance company BFSI Meghna LUTHRA ADD 1.5 1,303 1,650 26.7% 34.5 42.4 50.7 22.8% 19.5% 29.56 24.73 4.65 3.20 0.00 0.00% 16.5%
Housing Development Fin. BFSI Jignesh SHIAL ADD 0.0 0 3,000 0.0% 0.0 0.0 0.0 0.0% 0.0% 0.00 0.00 0.00 0.00 0.00 0.00% 0.0%
ICICI Bank Banks Bhavik Shah ADD 114.7 1,418 1,650 16.4% 29.1 33.2 35.7 13.9% 7.6% 42.43 39.42 6.91 5.99 0.00 0.67% 17.8%
IndusInd Bank Banks Bhavik Shah HOLD 6.5 741 840 13.5% 115.0 33.9 32.0 (70.5%) (5.8%) 23.00 24.41 0.89 0.86 0.00 0.00% 4.2%
Kotak Mahindra Bank Banks Bhavik Shah ADD 44.4 1,972 2,370 20.1% 69.3 69.0 71.1 (0.5%) 3.0% 30.29 29.41 3.34 3.00 0.00 0.13% 12.8%
Mahindra & Mahindra Finance BFSI Meghna LUTHRA ADD 4.2 270 340 26.0% 14.3 19.0 20.3 33.3% 6.8% 13.98 13.09 1.68 1.52 0.00 2.41% 12.4%
Muthoot Finance Ltd BFSI Jignesh SHIAL ADD 0.0 0 1,420 0.0% 100.9 0.0 0.0 0.0% 0.0% 0.00 0.00 0.00 0.00 0.00 0.00% 0.0%
Nippon Life India Asset Management Ltd Financial Services - AMCs Meghna LUTHRA ADD 6.0 828 920 11.1% 17.6 20.3 25.4 15.3% 25.4% 39.13 31.20 12.47 11.81 0.00 0.00% 31.4%
Punjab National Bank Banks Bhavik Shah ADD 14.0 107 120 11.8% 7.5 14.5 12.1 93.3% (16.4%) 6.53 7.81 0.97 0.89 0.00 2.70% 14.2%
RBL Bank Banks Bhavik Shah ADD 1.9 273 290 6.3% 1.9 1.1 1.6 (40.7%) 38.9% 136.33 98.13 10.62 10.06 0.00 0.43% 4.6%
SBI Cards BFSI Meghna LUTHRA REDUCE 9.2 856 700 (18.2)% 25.3 20.1 23.3 (20.4%) 15.7% 43.97 38.00 5.91 5.20 0.00 0.29% 14.8%
Shriram Finance Limited BFSI Meghna LUTHRA ADD 13.5 633 870 37.5% 38.3 42.9 55.0 12.0% 28.4% 14.78 11.51 2.13 1.79 0.00 1.58% 15.5%
Spandana Sphoorty Financial BFSI Meghna LUTHRA HOLD 0.2 260 250 (3.8)% 70.2 (145.2) (70.6) (306.7%) (51.4%) (1.65) (3.40) 0.70 0.79 0.00 0.00% (33.0%)
State Bank of India Banks Bhavik Shah HOLD 86.1 824 875 6.3% 76.4 79.4 67.7 4.0% (14.7%) 9.14 10.71 1.67 1.41 0.00 1.93% 17.3%
Ugro Capital NBFC Meghna LUTHRA ADD 0.2 177 270 52.7% 13.0 15.7 15.8 20.1% 0.8% 11.65 11.56 0.79 0.93 0.00 0.00% 8.3%
UTI AMC BFSI Meghna LUTHRA ADD 2.0 1,352 1,600 18.3% 60.3 57.4 75.9 (4.8%) 32.4% 24.68 18.64 3.75 3.43 0.00 3.55% 16.3%
Show More

Recent Research

More Reports