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Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd Loan growth muted; asset quality improves Earnings in line; NIM stable QoQ * Repco Home Finance (REPCO)’s 2QFY25 PAT grew 15% YoY to INR1.1b (in line). The company’s 1HFY25 PAT grew ~16% YoY to ~INR2.2b, and we expect 2HFY25 PAT to increase ~7% YoY. * The NII declined ~2% YoY to ~INR1.7b (in line). REPCO reported a healthy growth in its other income, primarily led by improvements in insurance commissions, investment income, and recoveries from written-off accoun...
Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd
Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-19 10:08:16 am
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd Another strong quarter of profitability           Growth and margins in-line, asset quality improved meaningfully     Repco Home Finance yet again delivered a strong RoA/RoE of 3.3%/16% in Q2 FY25 aided by asset quality improvement, higher other income, and resilient spread/margin. Loan disbursements at Rs8.67bn were up 27.5% qoq/8.5% yoy, but the increase in portfolio run-off (BT Out) restrained loan book expansion to 1.9% qoq/8.1% yoy. Portfolio spre...
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-14 04:35:20 pm
BUY Repco Home Finance Limited For Target Rs. 600 By Yes Securities Soft start but full-year growth guidance maintained Disbursements stood at Rs6.8bn v/s expectation of Rs7.05bn, and it was lower 24% qoq and flat on yoy basis. There was no DA pool buyout in the quarter. Business operations were least impacted by RBI’s April circular, but were affected by internal transfers/re-locations, heatwaves, and elections. BT OUT monthly run-rate remains moderate, and BT IN continues to be higher than BT Out. Management expects disbursements between Rs36-38...
BUY Repco Home Finance Limited For Target Rs. 600 By Yes Securities
BUY Repco Home Finance Limited For Target Rs. 600 By Yes Securities
Source: Yes Securities Ltd
2024-08-22 12:39:43 pm
Neutral Repco Home Finance Ltd. For Target Rs.540 - Motilal Oswal Financial Services Focused efforts drive asset quality improvements NIM contracts ~20bp QoQ; provision write-backs lead to earnings beat * REPCO’s 4QFY24 PAT grew 32% YoY to INR1.1b (8% beat), while FY24 PAT rose ~33% YoY to INR3.95b. NII increased ~11% YoY to ~INR1.6b (in line). Other income was up ~31% YoY at INR141m. * PPOP grew ~7% YoY but declined ~6% QoQ to INR1.3b (6% miss). REPCO took net provision write-backs of ~INR100m, aided by healthy improvement in asset quality and recoveries of ~...
Neutral Repco Home Finance Ltd. For Target Rs.540 - Motilal Oswal Financial Services
Neutral Repco Home Finance Ltd. For Target Rs.540 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-30 03:48:30 pm
Buy Repco Home Finance Limited For Target Rs.550 By Yes Securities A steady performance Overall good quarter with RoA/RoE sustained near 3%/16% Repco delivered 2% beat on our PAT expectation, aided by lower opex and higher penal & treasury income in the quarter. Disbursements were lower than our estimate, spread/margin moderation was as per expectation and asset quality further improved as was guided by Management. RoA/RoE were sustained near 3%/16% for the third consecutive quarter. Disbursements stood at Rs7.6bn v/s Rs8bn in Q2, and it was imp...
Buy Repco Home Finance Limited For Target Rs.550 By Yes Securities
Buy Repco Home Finance Limited For Target Rs.550 By Yes Securities
Source: Yes Securities Ltd.
2024-03-26 11:55:39 am
Buy Repco Home Finance Ltd. For Target Rs.550 By Yes Securities Strong performance continues Repco delivered 5-6% NII/PPOP and 10% PAT beat on our expectations. While disbursements/loan growth was in-line, the significant performance beat was driven by material margin expansion and substantial improvement in asset quality that drove negligible credit cost. RoA/RoE stood at 3.1%/16%, a multi-quarter high. Shifting of growth gear from H2 FY24 would be key monitorable Disbursements stood at Rs8bn (v/s est. Rs8.3bn), marking an acceleration in busine...
Buy Repco Home Finance Ltd. For Target Rs.550 By Yes Securities
Buy Repco Home Finance Ltd. For Target Rs.550 By Yes Securities
Source: Yes Securities Ltd
2024-03-16 02:38:11 pm
Buy Repco Home Finance Limited. for Target Rs.550 - Yes Securities Ltd On-track for further improvement in Growth & Asset Quality We hosted the Management of Repco Home Finance for Investor Meetings. The company is firmly on track to deliver a well-measured growth acceleration, further reduction in NPLs, improvement in overdue buckets, and a stable & reasonably healthy profitability. We expect 14-15% loan CAGR, 15-16% PAT CAGR and avg. 2.8%/14% RoA/RoE delivery over FY23-26. Notwithstanding the strong price performance in the past seven months, Repco&...
Buy Repco Home Finance Limited. for Target Rs.550 - Yes Securities Ltd
Buy Repco Home Finance Limited. for Target Rs.550 - Yes Securities Ltd
Source: Yes Securities Ltd
2023-12-28 11:29:15 am
Buy Repco Home Finance Limited for Target Rs.550 - Yes Securities Ltd Strong performance continues Repco delivered 5-6% NII/PPOP and 10% PAT beat on our expectations. While disbursements/loan growth was in-line, the significant performance beat was driven by material margin expansion and substantial improvement in asset quality that drove negligible credit cost. RoA/RoE stood at 3.1%/16%, a multi-quarter high. Shifting of growth gear from H2 FY24 would be key monitorable Disbursements stood at Rs8bn (v/s est. Rs8.3bn), marking an acceleration in busine...
Buy Repco Home Finance Limited for Target Rs.550 - Yes Securities Ltd
Buy Repco Home Finance Limited for Target Rs.550 - Yes Securities Ltd
Source: Yes Securities Ltd
2023-12-26 11:47:28 am