Buy CreditAccess Grameen, target price Rs 1080: Axis Securities

Axis Securities has buy call on CreditAccess Grameen with a target price of Rs 1080. The current market price of CreditAccess Grameen is Rs 998.3.

CreditAccess Grameen Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 15599.62 Crore) operating in NBFC sector.

CreditAccess Grameen Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Other Services and Fees & Commission Income for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 814.31 Crore, up 7.07 % from last quarter Total Income of Rs 760.52 Crore and up 31.64 % from last year same quarter Total Income of Rs 618.58 Crore. Company reported net profit after tax of Rs 176.15 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 73.74 per cent stake in the company as of 30-Sep-2022, while FIIs owned 8.67 per cent, DIIs 12.68 per cent.