CreditAccess Grameen | Q3FY25 Result Update
Edelweiss
Stress in MFI intensifies pressure on credit growth and asset quality
Broker Research reports
for Industry - Microfinance Institutions
- This broker has downgraded this stock from it's previous report. (eg. - Buy->Hold)
- Broker has maintained previous recommendation but reduced share price target.
- This broker has upgraded this stock from it's previous report.(eg. - Sell->Hold)
- Broker has maintained previous recommendation but increased share price target.
RESEARCH REPORTS ALERTS
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| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 26 Jan 2025 | CreditAccess Grameen |
Edelweiss
|
1292.60 | 916.60 (41.02%) |
Not Rated
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| 26 Jan 2025 | CreditAccess Grameen |
Motilal Oswal
|
1292.60 | 1070.00 | 916.60 (41.02%) | Target met |
Buy
|
Delinquencies moderating but normalization still some time away
Motilal Oswal
CreditAccess Grameen (CREDAG)’s 3QFY25 loss stood at INR995m (vs. MOFSLe PAT of INR1.3b). NII grew ~7% YoY to ~INR8.6b (~6% miss) and PPoP rose 4% YoY to ~INR6.2b (~6% miss). Cost-income ratio was stable at ~31% (PY: ~30% and PQ: ~31%).
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| 25 Jan 2025 | Au SF Bank |
Motilal Oswal
|
706.65 | 730.00 | 594.65 (18.83%) | Target met |
Buy
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| 25 Jan 2025 | Au SF Bank |
Emkay
|
706.65 | 625.00 | 594.65 (18.83%) | Target met |
Sell
|
Stress to persist in near term, but eyes glued on 1.6% RoA
Emkay
AU SFB logged a muted performance with a 5% miss on PAT at Rs5.3bn/RoA at 1.5%, mainly on lower other income and elevated provisions owing to ongoing stress in unsecured loans (MFI, Cards, PL) and seasonality impact on the agri and wheels book.
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| 24 Jan 2025 | Spandana Sphoorty |
Motilal Oswal
|
259.83 | 395.00 | 324.20 (-19.86%) | Pre-Bonus/ Split |
Buy
|
Loss quarter; green shoots visible but not a firm trend yet
Motilal Oswal
Spandana Sphoorty (SPANDANA)’s 3QFY25 loss stood at ~INR4.4b (vs. est. loss of INR4.6b), driven by elevated credit costs. 9MFY25 loss stood at INR6b. We expect the company to report another loss quarter in 4QFY25 as well.
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| 24 Jan 2025 | Ujjivan Small Finance |
Emkay
|
46.62 | 45.00 | 33.05 (41.06%) | Target met |
Buy
|
Manages headline NPAs with an eye on Universal bank license
Emkay
Ujjivan SFB logged a 30% miss on PAT at Rs1.1bn, mainly due to sharp contraction in margin and higher provisions as NPAs surged in the MFI portfolio driven by imposition of MFIN guardrails.
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| 24 Jan 2025 | Ujjivan Small Finance |
Axis Direct
|
46.62 | 39.00 | 33.05 (41.06%) | Target met |
Buy
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| 26 Nov 2024 | Equitas Small Finance Bank |
Geojit BNP Paribas
|
54.97 | 69.00 | 62.92 (-12.64%) | Target met |
Hold
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| 19 Nov 2024 | CreditAccess Grameen |
Geojit BNP Paribas
|
1292.60 | 976.00 | 884.60 (46.12%) | Target met |
Accumulate
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| 17 Nov 2024 | Fusion Micro Finance |
Motilal Oswal
|
186.18 | 165.00 | 177.71 (4.77%) | Target met |
Neutral
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