481.95 12.40 (2.64%)
NSENov 27, 2020 03:31 PM
The 19 reports from 6 analysts offering long term price targets for Can Fin Homes Ltd. have an average target of 504.20. The consensus estimate represents an upside of 4.62% from the last price of 481.95.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-10-30||Can Fin Homes Ltd. +||Axis Direct||457.25||515.00||457.25 (5.40%)||6.86||Buy|
Pick up in fresh disbursals QoQ is comforting. We remain positive on the stock given its favourable loan mix, sustained margins, comfortable liquidity position and robust CAR (25%) and recommend BUY with target price of Rs 515 (2.3x FY22E ABV).
|2020-10-29||Can Fin Homes Ltd. +||Edelweiss||463.25||569.00||463.25 (4.04%)||18.06||Buy|
|2020-10-29||Can Fin Homes Ltd. +||Yes Securities||454.80||550.00||454.80 (5.97%)||14.12||Buy|
Can Fin's Q2 FY21 result was exceptionally strong on the back of sharp NIM improvementandmodestprovisions(backedbymanagementassessmentofpotential stressandextanthealthyprovisioningbuffer).WeconcurwithmanagementthatNPL increaseandrestructuringquantumwouldnotbesignificantconsideringencouraging collectiontrends(93%inSeptand9697%inOct)andcustomerprofileofthebook. CreditcostfromH2FY21isexpectedtolargenormalize(1520bpsannualized). WhiletheNIMcouldstayaroundthecurrentelevatedlevel(3.94%)foracoupleof quarters (1020 bps incremental decline in cost of fundspossible), it will most likely...
|2020-08-28||Can Fin Homes Ltd. +||Nirmal Bang Institutional||387.20||387.20 (24.47%)||Buy|
Nirmal Bang Institutional
Asset quality position should be relatively better Can Fin Homes (CFHL) reported net profit of Rs932mn, up 15% YoY and 2.5% QoQ on the back of strong operating profit (up 29.4% YoY, 6.5% QoQ) and despite prudent provisioning. Total income was driven by a strong NII performance (up 25.3% YoY, 1.5% QoQ). NIM was at a 12-quarter peak of 3.7%, expanding by 18bps QoQ on account of 46bps (QoQ) reduction in cost of funds to 7.3%. On incremental basis, CoF for the company is 7%. Yields dipped by 19bps QoQ. We believe that the current NIM is unsustainably high and that 3-3.4% would be a more reasonable range from a mediumterm perspective. Provisions for the quarter stood at Rs441mn, 20bps of the total loan book. The company has made another ~Rs360mn worth of covid-related provisions, taking the total outstanding...
|2020-08-28||Can Fin Homes Ltd. +||Geojit BNP Paribas||387.20||440.00||387.20 (24.47%)||Target met||Accumulate|
|2020-08-28||Can Fin Homes Ltd. +||Edelweiss||387.20||440.00||387.20 (24.47%)||Target met||Buy|
|2020-07-23||Can Fin Homes Ltd. +||Axis Direct||399.50||424.00||399.50 (20.64%)||Target met||Buy|
|2020-06-30||Can Fin Homes Ltd. +||CD Equisearch||358.60||447.00||358.60 (34.40%)||Target met||Buy|
y in Q4FY20 due to the impact of nationwide lockdown beginning at the end of March. An n already slowing housing credit landscape did Can Fin Homes no favours as loan book grew by 2.7% from December 2019 driven by balanced growth in its salaried and professional clients as well...
|2020-06-23||Can Fin Homes Ltd. +||Geojit BNP Paribas||354.40||430.00||354.40 (35.99%)||Target met||Buy|
|2020-06-18||Can Fin Homes Ltd. +||Axis Direct||349.80||405.00||349.80 (37.78%)||Target met||Buy|
Can Fin Homes (CANF) Q4FY20 results were better than expectations on Net Interest Income front, up 34/9% YoY/QoQ to 188cr aided by loan growth (~12% YoY) and strong NIMs (3.52%, up 10bps QoQ). Incremental cost of funds have come down to 7.77% from 7.88% a quarter ago.
|2020-06-18||Can Fin Homes Ltd. +||Yes Securities||349.80||415.00||349.80 (37.78%)||Target met||Buy|
Management is not expecting significant growth in current fiscal withrecoveryinloandemandseenonlyfromQ4FY21.OnNIMs, company is more sanguine on the outlook with expectations of persistent decline in funding cost in ensuing quarters and a...
|2020-06-18||Can Fin Homes Ltd. +||Nirmal Bang Institutional||360.05||432.00||360.05 (33.86%)||Target met||Buy|
Nirmal Bang Institutional
Prudent underwriting to keep the ship steady; retain BUY Can Fin Homes Ltd delivered a strong performance during 4QFY20, followed by not-so-bad commentary on outlook for FY21. We think that following a prudent underwriting strategy over the years has helped the company keep its asset quality in good stead with NPAs of 0.8% (one of the lowest in the industry). While we build in higher NPAs in FY21 given the external macros and the impact on the self-employed segment, we think that the company should be able to revert back to normalcy faster than peers. Growth should take a backseat in FY21 due to greater focus on collections and recoveries in addition to a weak demand environment amid a slowing economy. Reducing the...
|2020-04-17||Can Fin Homes Ltd. +||Geojit BNP Paribas||307.85||312.00||307.85 (56.55%)||Target met||Hold|
|2020-02-17||Can Fin Homes Ltd. +||Axis Direct||509.65||546.00||509.65 (-5.44%)||13.29||Hold|
Can Fin Homes (CANF) PAT in Q3FY20 stood at Rs 106.6cr, up 9/42% QoQ/YoY led by improved NIMs and lower tax rates. Loan growth was steady at ~15%. Disbursements were up 11/12% QoQ/YoY as new branches yielded healthy business.
|2020-02-04||Can Fin Homes Ltd. +||Geojit BNP Paribas||487.65||557.00||487.65 (-1.17%)||15.57||Accumulate|
Geojit BNP Paribas
Stable business growth along with asset quality Can Fin Homes Ltd is the housing finance arm of Canara bank. The company has dominance in south India with focus on Tier 1 and Tier 2 cities. It provides housing loans, composite loans, non-housing loans,...
|2020-01-22||Can Fin Homes Ltd. +||Nirmal Bang Institutional||455.10||540.00||455.10 (5.90%)||12.04||Buy|
Nirmal Bang Institutional
20% growth in medium term; asset quality, NIM outlook bright Can Fin Homes (CFHL) has reported its 3QFY20 results with the key pointers being: (1) Loan book growth was 15% YoY on the back of strong growth in disbursals (2) NIM, at 3.42%, expanded 8 bps QoQ, aided by reduction in CoF (3) Gross NPAs were stable at 0.80%; likely to improve going forward (See comprehensive conference call takeaways on page 2 for significant incremental colour). Per se, on the key P&L; items, CFHL has posted 24% YoY NII growth at Rs1,680mn, PPOP growth of 24% YoY at Rs1,501mn and PAT growth of 41% YoY at Rs1,066mn. We have revised our estimates for FY20/FY21/FY22 and retained Buy rating on CFHL, revising our target price to Rs540 (from...
|2020-01-21||Can Fin Homes Ltd. +||Edelweiss||470.10||605.00||470.10 (2.52%)||25.53||Buy|
|2019-11-28||Can Fin Homes Ltd. +||CD Equisearch||393.80||478.00||393.80 (22.38%)||Target met||Buy|
Q2FY20, driven by 13.8% rise in loans to salaried and professional clients while registering a more impressive growth of 20.8% in the self employed and non professional segment albeit on a smaller basebase Housing loans comprised...
|2019-11-25||Can Fin Homes Ltd. +||Axis Direct||387.15||451.00||387.15 (24.49%)||Target met||Buy|
Can Fin Homes (CANF) PAT in Q2FY20 stood at Rs 98cr, up 27/21% YoY/QoQ led by stable NIMs and lower tax rates. Loan growth was steady at ~16%. Disbursements were up 5% QoQ as new branches yielded healthy business.
|2019-11-05||Can Fin Homes Ltd. +||Edelweiss||394.60||494.00||394.60 (22.14%)||Target met||Buy|