Motilal Oswal has increased EPS estimates by 6–7 percent, factoring in stronger growth and lower opex and has maintained buy with target of Rs 1,500 per share.
Muthoot Finance Ltd.
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); 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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Muthoot Finance share price gained over 4 percent intraday on February 10 after the gold loan financier reported its earnings for the quarter ending December 2020.
The gold loan financier on February 9 reported a 22 percent jump in standalone profit after tax at Rs 991.4 crore for the quarter ended December 2020. The company had posted a profit of Rs 815.2 crore in the year-ago period.
On a consolidated basis, its profit after tax rose to Rs 1,006.7 crore from Rs 861 crore in the same quarter of the previous fiscal.
Total income grew 20 percent to Rs 2,777 crore from Rs 2,321 crore earlier.
“The growth during the quarter was very good. Our standalone loan assets… has crossed the landmark of Rs 50,000 crore. Our active customers presently having a loan account also crossed the landmark of 50 lakh customers,” the company’s Managing Director George Alexander Muthoot said.
During the quarter, gold loan assets increased by Rs 3,389 crore to Rs 49,622 crore.
Its gross NPA or stage 3 assets improved to 1.30 percent from 2.54 percent in the same quarter of FY20. Expected credit losses (ECL) provision (as a percentage of gross loan assets) stood at 1.23 percent during the quarter.
The stock was trading at Rs 1,240.55, up Rs 54.55, or 4.60 percent at 09:49 hours. It has touched an intraday high of Rs 1,243.00 and an intraday low of Rs 1,190.65.
Brokerage firm Motilal Oswal expects the company to deliver 12–15 percent loan growth post FY21. Incremental cost of funds is ~100bp lower than on-book cost of funds should mitigate yield pressure, if any, it said.
“RoA/RoE is likely to remain robust at 7 percent/27 percent over the medium term. We increase our EPS estimates by 6–7 percent, factoring in stronger growth and lower opex and maintain buy, with target of Rs 1,500 per share.
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