IIFL Wealth Management Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 7912.94 Crore) operating in NBFC sector.
By ETMarkets.com | Updated:
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Promoters held 23 per cent stake in the company as of Sept 30, 2020, while FIIs held 21.1 per cent, DIIs 1.7 per cent and public and others 54.3 per cent.
Motilal Oswal has given a buy rating to IIFL Wealth with a target price of Rs 1240. The share price moved down by 1.43 per cent from its previous close of Rs 916.05. The stock’s last traded price is Rs 902.95.
IIFL Wealth Management Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 7912.94 Crore) operating in NBFC sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 387.43 Crore, up 10.87 % from last quarter Sales of Rs 349.46 Crore and up 4.91 % from last year same quarter Sales of Rs 369.31 Crore Company reported net profit after tax of Rs 87.13 Crore in latest quarter.
Investment Rationale While there could be some pressure on profitability due to migration to IIFL ONE (net yields of 40bp in IIFL ONE v/s 50-60bp for other distribution assets), it would make revenues more stable and less susceptible to regulatory pressures. The brokerage upgrades FY21 EPS estimates by 4% and largely maintain FY22E EPS estimates. Promoter/FII Holdings Promoters held 23 per cent stake in the company as of Sept 30, 2020, while FIIs held 21.1 per cent, DIIs 1.7 per cent and public and others 54.3 per cent.
