IndusInd Bank Q4 Results Review - Steady Quarter: Dolat Capital

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.IndusInd Bank Ltd. Q4 results were in-line withNet interest income/profit after tax growth of 15% YoY each,healthy loan growth at 5% QoQ,stable net interest margin at 4.26%, andmoderation in slippages across segments.However, traction in retail deposits (+2% QoQ) was relatively muted and earnings continued to benefit from utilization of Rs 3 billion contingent provisions.Management intends to maintain 1.5-2% provision buffers against micro finance Institutions book and 0.5% against MHCV book, going forward. Slippages at 1.8% were contained and sequential loan growth was driven by consumer finance (+6% QoQ) and small corporates (+7%).We tweak our earnings and build in earnings compound annual growth rate of 19% over FY25E/26E. Upgrade to ‘Buy’ rating from 'Accumulate' with revised target price of Rs 1800 (from Rs 1760 earlier) given run-up in stock price, valuing at 1.7 times FY26E price book value against return of assets/return of equity of 1.9%/16%..Click on the attachment to read the full report:.IndusInd Bank Q4 Results Review - Healthy Credit Growth, Earnings Still Strong; Retaining A Buy: Anand Rathi.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

IndusInd Bank Q4 Results Review - Steady Quarter: Dolat Capital

Loan growth driven by consumer finance and small corporates.

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