ICICI Securities: Aavas Financiers - Pristine Quality, Affordable Premium
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ICICI Securities Report
Aavas Financiers Ltd.’s gross stage-three assets including standstill accounts at 0.47%, sub-40 basis points provisioning for H1 FY21, 1+ dpd pool at 6.2%, only depicts and reinforces the resilience of its portfolio.
Collection efficiencies at 95% (compared to 96-97% pre-Covid-19 levels) are noteworthy especially given 65% of customer mix is self-employed.
Basis its engagement with customers, the management guided that it does not foresee any restructuring request
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