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Monday, March 8, 2021

Buy Manappuram Finance, target price Rs 172: Kotak Securities

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Kotak Securities has given a buy rating to Manappuram Finance with a target price of Rs 172. The share price moved up by 0.30 per cent from its previous close of Rs 166.50. The stock’s last traded price is Rs 167.

Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 14067.96 Crore) operating in NBFC sector.

Manappuram Finance Ltd. key Products/Revenue Segments include Interest which contributed Rs 4225.23 Crore to Sales Value (98.00 % of Total Sales), Fees & Commission Income which contributed Rs 79.91 Crore to Sales Value (1.85 % of Total Sales), Dividend which contributed Rs 5.02 Crore to Sales Value (0.11 % of Total Sales) and Other Operating Revenue which contributed Rs 1.13 Crore to Sales Value (0.02 % of Total Sales)for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1512.53 Crore, down 5.78 % from last quarter Sales of Rs 1605.32 Crore and up 28.81 % from last year same quarter Sales of Rs 1174.19 Crore Company reported net profit after tax of Rs 367.97 Crore in latest quarter.

Investment Rationale
Strong range breakout formation along with positive SAR series indicates further uptrend.

Promoter/FII Holdings
Promoters held 35.05 per cent stake in the company as of March 31, 2020, while FIIs held 39.50 per cent, DIIs 8.1 per cent and public and others 17.02 per cent.

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