Can Fin Homes Ltd Q1FY21 - Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking Ltd

"Can Fin Homes reported an overall good set of numbers For Q1FY21. However, on the moratorium side, 28% is a bit higher compared to his history of stable asset quality. AUM grew 9% YoY an 2% QoQ, NII grew much at a healthy rate 29% YoY largely le by a reduction in cost of fund. Pre provision profit grew at 29%, however, PAT grew by 15% YoY primarily due to elevated provision cost. 28% morat number includes Customers who have opted for moratorium and customers who haven't paid/bounced. Can Fin has taken total COVID provision worth of 73cr which is 0.35% of the loan book. Can fin home currently trades at 1.8x FY22E BV which we belive lower than the historical average. We have a positive view on can fin considering a continuous reduction in the cost of fund, improvement in NIM a strong parentage."

Shares of CAN FIN HOMES LTD. was last trading in BSE at Rs.380.85 as compared to the previous close of Rs. 392.8. The total number of shares traded during the day was 60368 in over 1176 trades.

The stock hit an intraday high of Rs. 402.8 and intraday low of 369.7. The net turnover during the day was Rs. 23563868.

Source : Equity Bulls

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