ICICI Securities recommends Aptus Value Housing Finance India with a target price of Rs 342 per share

ICICI Securities recommends Aptus Value Housing Finance India with a target price of Rs 342 per share

Aptus Value Housing Finance India has been added to ICICI Securities’ portfolio with a target price of Rs 342. Aptus Value Housing Finance India is currently trading at Rs 304.7. The analyst’s time interval for Aptus Value Housing Finance India Ltd. pricing to reach the target is one year.

Interest, Fees & Commission Income, and Income From Sale Of Shares & Securities are Aptus Value Housing Finance India Ltd.’s primary products/revenue segments for the fiscal year ending 31-Mar-2021.

Aptus Value Housing Finance India Ltd., founded in 2009, is an NBFC Small Cap company with a market capitalization of Rs 15156.00 crore.

For the quarter ended 31-03-2022, the corporate reported a Consolidated Total Income of Rs 234.34 Crore, up 8.34 % from final quarter Total Income of Rs 216.31 Crore and up 29.09 % from final yr similar quarter Total Income of Rs 181.54 Crore. Company reported internet revenue after tax of Rs 109.87 Crore in newest quarter.

Investment Rationale
Aptus Value Housing Finance’s (Aptus) Q4FY22 PAT of Rs1.1bn, earnings development of 39% in FY22, RoA of 8% and RoE of 14.5% have been marginally higher than our estimates. Disappointment in Q3FY22 with respect to assortment effectivity (CE) and rise in 30+ dpd was totally addressed this quarter itself. CE retraced to 103.14%, 30+ dpd normalised to 9.91% and stage-3 belongings declined to 1.19% from 1.53% QoQ (0.81% in Q2). Besides 7.3% by FY24E. Assigning a valuation at 4.5x Sep’23E e book, it revises target price to Rs342 (earlier: Rs379).

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