Sammaan Capital Ltd. share price target and research reports

Name: Latest research reports of Sammaan Capital Ltd. authored by Rudra Shares and Stock Brokers Ltd and published by - Trendlyne research reports.
Item: Sammaan Capital Ltd.
Rating: 5
Author: Rudra Shares and Stock Brokers Ltd

Latest analyst research reports with target prices and PDF download for SAMMAANCAP, BSE:535789 Sammaan Capital Ltd.

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Sammaan Capital Ltd.

09 Aug 2019

121.46

-1.64%

Indiabulls Housing Finance Limited

Results Update: Sammaan Capital Ltd.

SMC online

Indiabulls Housing Finance has recorded 24% dip in the net profit to Rs 801.53 crore for the quarter ended June 2019. The net interest income of the company dipped 13%, while net provisions jumped 128% causing decline in the net profit of the company in Q1FY2020. The company has witnessed marginal decline in the margins, while asset quality deteriorated. The net interest income of the company declined 13% to Rs 1475 crore in the quarter ended June 2019. The company has witnessed decline in spreads to 3.14% in Q1FY2020 from 3.23% in Q1FY2019, as cost of funds increased to 8.91% in Q1FY2020 from 7.92% in Q1FY2019. The yield on loans also increased to 12.05% in Q1FY2020 from 11.15% in Q1FY2019....

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

07 Aug 2019

121.46

-1.64%

Focus on reducing corporate exposure

Not Rated: Sammaan Capital Ltd.

Motilal Oswal

PAT of INR8.0b was 3% below our estimates. The marginal miss was on account of slightly higher credit costs and taxes. Disbursements were steady at 4QFY19 levels of ~INR75b. During the quarter, the company focused on reducing its commercial real estate (CRE) exposure due to the impending LVB merger. It got INR60b of CRE loans refinanced. As a result, overall AUM declined 6% QoQ/ 10% YoY to INR1.13t. Management targets to step up disbursements to INR100b, 2QFY20 onwards. Spreads declined ~20bp YoY to 3.12%, largely due to 100bp rise in cost of...

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

25 Apr 2019

121.46

-1.64%

Indiabulls Housing Finance Limited

Results Update: Sammaan Capital Ltd.

SMC online

The net interest income of the company improved 6% to Rs 1591 crore in the quarter ended March 2019. The GNPA ratio as well as NNPA showed marginal increase for Q4FY2019, but remained under control at end March 2019. The company has improved spreads to 3.42% in Q4FY2019 from 3.11% in Q4FY2018, as yield on loans jumped to 12.15% in Q4FY2019 from 10.86% in Q4FY2018. The company has also...

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

24 Apr 2019

121.46

-1.64%

Improving traction on the business front

Not Rated: Sammaan Capital Ltd.

Motilal Oswal

After a sluggish 3Q, the company stepped up its disbursements in 4QFY19 to INR73b. However, AUM declined 3% QoQ to INR1.2t due to high repayments. With sufficient balance sheet liquidity, IHFL is well set to revert to its normalized disbursement run-rate of INR100b per quarter in FY20. Management reiterated its target of 20% AUM growth, 10% balance sheet growth, and high-teens PAT growth in FY20. On a calculated basis, core margins (excluding assignment and investment...

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

08 Apr 2019

121.46

-1.64%

Announces amalgamation with LVB- a marriage of convenience

Not Rated: Sammaan Capital Ltd.

Motilal Oswal

Indiabulls Housing Finance (IHFL) and Lakshmi Vilas Bank (LVB) have announced amalgamation, setting the stage for another NBFC (HFC) marriage with a bank. For LVB shareholders, for every 100 shares, they will get 14 shares of IHFL. This implies a 36%premium to the closing price of LVB as of 5th Apr'19 and ~63% premium to the last sixmonths' average price. The scheme of arrangement would lead to a 10.5% dilution. The deal is subject to all regulatory/shareholder approvals (RBI's approval remains the most significant one and will involve multiple considerations). If all approvals come,deal could get consumed in 3 quarters.

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

01 Apr 2019

121.46

-1.64%

Indiabulls Housing Finance Ltd

Buy: Sammaan Capital Ltd.

Rudra Shares and Stock Brokers Ltd

Unlike most of the HFCs, the share of IndiaBulls Housing has fallen dramatically from levels of Rs 1400. The fall has largely been on account of the IL&FS; wreck and also on account of the worries surrounding DHFL. Though, India Bulls has often clarified it stating that its liquidity position continues to remain sound (as closed with cash of 21000cr in Q3FY19) and has performed well during the quarter. It has significantly bought down reliance on 3-month CP in the process, thereby ensuring a well matched ALM and durability of liquidity levels. It now counts 21 strong banking relationships - 16 with PSU banks and 5 with private and foreign banks amongst its securitization investors. India bulls has guided the loan growth of 20-25%, Pat growth at...

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

01 Feb 2019

121.46

-1.64%

Core business trends stable, but AUM growth to slow down

Buy: Sammaan Capital Ltd.

Target

Motilal Oswal

1 February 2019 PAT declined 15% YoY (-6% QoQ) to INR9.9b (3% miss) in a quarter characterized by tepid loan growth and stable asset quality. Management adopted a cautious stance on disbursements, which were at INR39b. AUM grew 16% YoY to INR1.24t. However, Management guided for 20-25% of AUM growth and 10-15% balance sheet growth over the near term. Incrementally, loan assignments will be a key source of generating and maintaining balance sheet liquidity. IHFL reduced its exposure to sub-3 month CPs it was down from 12% to 3% YoY. Management targets to limit its share to 5% of total borrowings. Asset quality was stable, with stage 3 loans at 79bp and coverage ratio of 25%. In addition, the Palais Royale project, which is an NPL, has witnessed initial signs of recovery IHFL received INR2b in Jan19 and expects a similar amount annually over the next four years.

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

16 Oct 2018

121.46

-1.64%

Core business trends stable but AUM growth to slow down

Buy: Sammaan Capital Ltd.

Target

Motilal Oswal

16 October 2018 Indiabulls Housing Finance's (IHFL) PAT grew 21% YoY (-1% QoQ) to INR10.4b (3% miss) in a quarter characterized by robust loan growth, some margin pressure and stable asset quality. AUM increased 29% YoY to INR1.29t, driven by disbursement growth of 23% YoY to INR110b. guided to 20% YoY AUM growth for FY19, our AUM growth estimate for FY19 is 16% YoY given the fact that AUM has grown only 5% over Mar-Sep 2018. Total income growth came in at 10% YoY the slowest in the past several quarters due to the 34% YoY increase in interest expense. Asset quality was largely stable, with stage 3 loans at 77bp and coverage ratio on the same at 25%. The focus on core mortgage loans and market share gains should drive AUM CAGR of 17% over the next three years. Asset quality trend is likely to remain stable.

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

16 Oct 2018

121.46

-1.64%

Indiabulls Housing Finance

Results Update: Sammaan Capital Ltd.

SMC online

The loan portfolio of the company increased at strong pace of 29% to Rs 128908 crore at end September 2018 over September 2017. The sold down portfolio stood at Rs 14000 crore at end September 2018, showing an increase of 36% over September 2017. The share of mortgage loans increased to 80% at end September 2018 from 78% at end September 2017. On the other hand, the share of corporate mortgage eased to 20% at end...

Sammaan Capital Ltd. is trading below all available SMAs

Sammaan Capital Ltd.

15 Oct 2018

121.46

-1.64%

Indiabulls Housing Finance Ltd Q2FY19 results Comment

Results Update: Sammaan Capital Ltd.

HDFC Securities

Indiabulls Housing Finance Ltd Q2FY19 results Comment Operating Income rose by 2.32% to Rs. 3980.39 Cr in Q2FY19 when compared to the previous quarter. Also, it grew by 26.13% when compared with Q2FY18.

Sammaan Capital Ltd. is trading below all available SMAs

Is Indiabulls Housing Finance Ltd. worth buying?

2648 Votes:

Buy 77.61%

Sell 13.63%

Hold 8.76%