Wednesday, August 30, 2023

Spandana Sphoorty Financial Ltd (542759)- New customers added in Q1FY24 increased by 144% YoY

Spandana Sphoorty Financial Ltd (542759) closes   at ₹799.10  with  a   Fall   of   -2.70%   on    30-Aug-2023  with formation of  a    Red  candle  on Daily  Price Chart.

About the Company : Spandana Sphoorty Financial is primarily engaged in the business of micro finance providing small value unsecured loans to low-income customers in semi-urban and rural areas.

Sector Update :  Positive

Trendlyne Checklist Score : 34.80% pass

Financials : Spandana Sphoorty Financial Ltd has posted Net Interest Income (NII)  of ₹819.60 Cr & Net Profit of   ₹12.40 Cr in FY2023 and expected to post NII   of ₹1270.30 Cr  & Net Profit of ₹515.40  Cr in FY2024, NII   of ₹1680.00 Cr  & Net Profit of ₹724.20 in FY2025 .

Valuations  : The Company is now Trading at X1.70  of its  valuations of  FY2023 (Last 4 Quarters ) earnings with ~70% Premium  ;  at X0.79 of its FY2024 earnings with ~21%  Discount ; at X0.57 of its FY2025 earnings with ~43%  Discount .

EPS will improve from 1.70  in FY2023 to 102 by FY2023 and RoAE from 0.2% to 5.1% ; Book Value Per Share will increase from ₹437 to ₹594 during the same period.

Early Trend : Increasing Loan Officer with opening of new office .

MF/FII : FII- 21.25; MF-0.64%

Margin of Safety (1Yr Bond Yield: Value>1 ) is now  0.60   which  will improve further..The  Equity Value Per Share ( Enterprise Value Method ) is  ₹659.  If We factor its FY2025 earnings/valuations, relative to current valuations,  its Price arrives at ₹2404.00

Disclaimer : We are / may going to take exposure shortly.

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