Name: Latest research reports of Dewan Housing Finance Corporation Ltd. authored by Joindre Capital Services and published by - Trendlyne research reports.
Item: Dewan Housing Finance Corporation Ltd.
Rating: 3
Author: Joindre Capital Services

STOCK REVIEW NOTE

Hold: Dewan Housing Finance Corp...

Recommendation Target

Joindre Capital Services

During 4QFY18, the company's AUM grew by 23%, 57%, 42% and 61% in home loans, LAP, corporate loan and SME loans, respectively. Aggressive growth is witnessed in LAP as the interest rate is higher than that of home loans. This increasing concentration on LAP helps the NIM to be at 3% even with competitive rise in total loans and other assets. We expect the company to post a healthy loan book CAGR of 28.5% over FY2017-20E, which is likely to translate in earnings CAGR of 28%, over the same period. At the current level, the stock is valued at 1.8x FY2020E ABV. 2. Gujarat Ambuja Proteins Exports Ltd CMP Rs. 232 View HOLD Gujarat Ambuja Exports (GAEL) incorporated in August 1991 and is promoted by Mr Vijaykumar Gupta is engaged in the manufacture of refined castor oil, hydrated castor oil and hydrogenated castor oil. These products have extensive usage...