BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Shriram City Union Finance Ltd. posted a Q4 FY21 profit after tax of Rs 2.8 billion (up 84% off a low base YoY; 7% miss).
The miss was driven by net interest income (8% miss), but was offset by lower credit costs (15% beat).
In FY21, pre-provision operating profit and profit after tax were largely flat YoY at Rs 22 billion/Rs 10 billion.
We lower our FY22E earnings per share estimate by approximately 7% to factor in lower topline growth.
The company should deliver return on equity/return on asset of ~16%/4% in FY23E.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR