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Sundaram Finance’s Growth Catalyst Visible: ICICI Direct 

Sundaram Finance’s Growth Catalyst Visible: ICICI Direct

A man holds a two thousand Indian rupee banknote for a photograph in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)
A man holds a two thousand Indian rupee banknote for a photograph in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

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.

ICICI Direct Report

Sundaram Finance Ltd. is a Chennai-based non-banking financial company with a presence in auto financing, home finance, asset management and general insurance business.

Major value is derived from asset financing (vehicle financing) with assets under management of Rs 31226 crore as of December 2020.

The company has 583 branches with a substantial presence (approximately 55%) in southern India.

Net interest income was up 21.4% YoY to Rs 537 crore on the back of improved margins and resilient asset quality.

Net interest margin (calculated)) for the quarter increased by ~70 basis points QoQ to 6.9%.

Click on the attachment to read the full report:

ICICIC Direct Sundaram Finance Company Update.pdf

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