Equitas Holdings Ltd. share price target and research reports

Name: Latest research reports of Equitas Holdings Ltd. authored by Motilal Oswal and published by - Trendlyne research reports.
Item: Equitas Holdings Ltd.
Rating: 5
Author: Motilal Oswal

Latest analyst research reports with target prices and PDF download for EQUITAS, BSE:539844 Equitas Holdings Ltd.

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Equitas Holdings Ltd.

31 Jan 2022

Business growth picks up; CASA rises to 51 %

Buy: Equitas Holdings Ltd.

Motilal Oswal

Equitas Small Finance Bank (EQUITAS) reported an overall improvement in operating performance with higher-than-estimated PAT of INR1.08b (MOSLe: INR610m) for 3QFY22 led by higher NII growth and 45% QoQ decline in provisions. Business growth picked up due to healthy traction...

Equitas Holdings Ltd.

31 Oct 2021

usiness growth gaining traction; CASA rises to 45 %

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

Equitas Small Finance Bank (EQUITAS) reported PAT of INR412m (MOSLe: INR526m) for 2QFY22 was impacted by higher provisions on account of restructuring, while its operating performance for the quarter was in line. Business growth picked up strongly, led by healthy disbursements which were up 149% QoQ. Growth was witnessed across all segments, barring...

Equitas Holdings Ltd.

01 Aug 2021

Business growth muted; collection efficiency shows a healthy recovery in Jul '21

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

Equitas Small Finance Bank reported a PAT of INR119m (MOSLe: INR705m) impacted by higher opex and elevated provisions on account of restructuring. Business growth remains muted, with non-MFI AUM flat QoQ, while the MFI portfolio declined. Liability momentum continues to stay strong, with CASA ratio improving to 40%. On the asset quality front, slippages stood elevated as collections were impacted due to the second COVID wave. However, higher upgrades provided some support. GNPA/NNPA increased by 103bp/80bp QoQ, while...

Equitas Holdings Ltd.

04 Jul 2020

Moratorium book receding but still elevated

Buy: Equitas Holdings Ltd.

Motilal Oswal

Disbursements recovering; Focus on existing customer base To share a business update on trends related to disbursements, deposits accretion and moratorium proportion availed across segments, EQUITAS hosted an analyst call. Following are the key takeaways:...

Equitas Holdings Ltd.

17 May 2020

Moratorium book swells; Asset quality a key monitorable

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

17 May 2020 In 4QFY20, EQUITAS provided higher than required provisions toward COVID-19, which affected earnings despite strong NII/PPoP growth. Inspite of the lockdown in the last few days of Mar20, AUM growth was steady at 31% YoY. We remain cautious of EQUITAS asset quality trends in the near term as 98.3% of borrowers have availed moratorium (93% of portfolio value). We cut our FY21/FY22E PAT estimate to primarily factor in higher delinquency trend and moderation in loan growth. Maintain Buy. 4QFY20 PAT stood at ~INR430m (33% YoY decline, 41% below estimates) affected by higher provisions (INR996m) toward COVID-19. However, NII grew 35% YoY to INR4.2b led by gross AUM growth of 31% YoY. NIMs for FY20 improved by 56bp to 9.1%. During FY20, NII/PPoP/PAT grew ~30%/40%/16% YoY. Total opex increased 14% YoY to INR3.1b, led by ~28% YoY growth in staff expense while total revenues increased 26% YoY.

Equitas Holdings Ltd.

05 Aug 2019, 12:00AM

Modest quarter; growth trajectory to moderate slightly

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

Lower other income, higher provisions lead to PAT miss: EQUITAS reported PAT of INR619m (+75% YoY), missing our estimate by 15% due to lower other income and higher provisions. Other income declined 6% YoY to INR578m on account of lower fees, as the bank did not sell any PSLC certificates in the quarter. PPoP increased 65% YoY, led by 35% YoY growth in NII (INR3.4b; in-line). Lending spreads/NIM shrank ~20bp/25bp QoQ to 10.5%/8.6%, as the cost of funds increased 10bp QoQ. Total opex increased 15% YoY to INR2.8b, mainly led by higher staff expense (+21% YoY). Cost-income ratio, thus, remained elevated at...

Equitas Holdings Ltd.

04 Feb 2019

Core operating performance improves; lower provisions drive earnings

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

4 February 2019 of 198%/14% YoY/QoQ to INR1.2b (largely in line with our estimates), driven by 37%/16% YoY/QoQ growth in NII. Lending spreads improved 49bp QoQ to 11.2%, while NIM stood at 8.98% (+128bp QoQ) on the back of 62bp improvement in cost of funds. Total opex grew 17%/12% YoY/QoQ to INR2.6b (5% above MOSLe) led by 40% YoY growth in other opex (paid PSLC premium of INR238m). Cost- income ratio, thus, remains elevated at 68.2% (39bp QoQ decline). Total AUMs grew 41%/9% YoY/QoQ to INR108.6b, with share of microfinance AUM at 27.2% of total AUM v/s 32% in 3QFY18. However, on an absolute basis, MFI AUM registered 9% QoQ growth (20% YoY) to INR29.5b. Non-MFI AUM registered robust 50%/9% YoY/QoQ growth to INR79.

Equitas Holdings Ltd.

30 Apr 2018

Strong signs of profitability pick-up driven by lower opex and credit costs

Buy: Equitas Holdings Ltd.

Target

Motilal Oswal

Strong signs of profitability pick-up driven by lower opex and credit costs Operating expenses have started stabilizing: Equitas (EQUITAS) reported PPoP growth of 62%/42% QoQ/YoY (INR675m, off a low base), driven by strong cost control (cost-to-income ratio declined to a multi-quarter low of 77%). Total income increased 6.5%/20.3% QoQ/YoY (NII growth of 12% YoY, other income growth of 111% YoY, driven by higher share of liability fees). Provisions were controlled at INR139m, leading to PAT of INR348m. Balance sheet de-risking continues: In keeping with the goal of reducing the...

Equitas Holdings Ltd.

06 Feb 2018, 12:00AM

Result Update:Equitas Holdings

Buy: Equitas Holdings Ltd.

Target

Axis Direct

Equitas posted a loss of Rs 300 mn in Q3FY18, as it accelerated provisions worth Rs 700 mn on its demonetization-hit microfinance portfolio. Consequently, PAT was sharply below our estimate of Rs 113 bn, as provisions were originally intended to be amortized over few quarters. Asset quality improved

Equitas Holdings Ltd.

01 Feb 2018

Equitas (3QFY18): Performance bottoming out. Maintain NEUTRAL

Neutral: Equitas Holdings Ltd.

Target

HDFC Securities

We maintain Neutral stance with a TP of Rs 165 (2.3x Dec'19E ABV). Equitas 3QFY18 performance came in largely in-line with our expectations. The loan book grew by 5.4% QoQ (7.5% YoY), as the company continued to focus on the Non-MF (secured) book. CASA growth was very strong at 37.5%, and contributed 14.6% to total interest liabilities.

No results found

Is Equitas Holdings Ltd. worth buying?

335 Votes:

Buy 78.51%

Sell 11.04%

Hold 10.45%