Buy Spandana Sphoorty, target price Rs 1200: Motilal Oswal

Motilal Oswal has buy call on Spandana Sphoorty Financial with a target price of Rs 1200. The current market price of Spandana Sphoorty Financial is Rs 1042.4.
Spandana Sphoorty Financial Ltd., incorporated in the year 2003, is a Mid Cap company (having a market cap of Rs 7337.27 Crore) operating in NBFC sector.

Spandana Sphoorty Financial Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Bad Debts Recovery for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 640.22 Crore, up 21.42 % from last quarter Total Income of Rs 527.29 Crore and up 106.42 % from last year same quarter Total Income of Rs 310.15 Crore. Company reported net profit after tax of Rs 125.20 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.41 per cent stake in the company as of 30-Sep-2023, while FIIs owned 18.74 per cent, DIIs 12.62 per cent.