Hold Magma Fincorp, target price Rs 31: Emkay Global

Emkay Global has given hold rating to Magma Fincorp with a target price of Rs 31. The share price moved up by 0.26 per cent from its previous close of Rs 37.90. The stock’s last traded price is Rs 38.

Magma Fincorp Ltd., incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 1024.18 Crore) operating in NBFC sector.

Magma Fincorp Ltd. key Products/Revenue Segments include Interest which contributed Rs 2022.81 Crore to Sales Value (92.89 % of Total Sales), Fees & Commission Income which contributed Rs 74.40 Crore to Sales Value (3.41 % of Total Sales), Income From Financial Services which contributed Rs 43.62 Crore to Sales Value (2.00 % of Total Sales), Lease Rentals which contributed Rs 36.72 Crore to Sales Value (1.68 % of Total Sales)for the year ending 31-Mar-2020.

For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 565.88 Crore, down 7.28 % from last quarter Sales of Rs 610.32 Crore and down 10.36 % from last year same quarter Sales of Rs 631.27 Crore. The Company reported net profit after tax of Rs 34.74 Crore in latest quarter.