Buy Can Fin Homes, target price Rs 700: Prabhudas Lilladher

Prabhudas Lilladher has buy call on Can Fin Homes with a target price of Rs 700.The current market price of Can Fin Homes is Rs 543.45.

Can Fin Homes, incorporated in the year 1987, is a Mid Cap company (having a market cap of Rs 7220.95 Crore) operating in NBFC sector.

Can Fin Homes key Products/Revenue Segments include Interest and Fees & Commission Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 709.71 Crore, up 7.93 % from last quarter Total Income of Rs 657.55 Crore and up 39.57 % from last year same quarter Total Income of Rs 508.48 Crore. Company has reported net profit after tax of Rs 151.49 Crore in latest quarter.

The company’s top management includes Mr.Lingam Venkata Prabhakar, Mrs.Shubhalakshmi Aamod Panse, Mr.Arvind Narayan Yennemadi, Mr.G Naganathan, Mr.Satish Kumar Kalra, Mr.Ajai Kumar, Mr.Debashish Mukherjee, Mr.Amitabh Chatterjee, Mr.Girish Kousgi, Mr.Anup Sankar Bhattacharya. Company has Varma & Varma as its auditors. As on 31-12-2022, the company has a total of 13 Crore shares outstanding.

Investment Rationale
MD & CEO appointment is positive as it removes the overhang of a key position lying vacant and it could increase business focus which would aid loan growth.

Promoter/FII Holdings
Promoters held 29.99 per cent stake in the company as of 31-Dec-2022, while FIIs owned 9.95 per cent, DIIs 23.52 per cent.