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Home Business Buy L&T Finance Holdings, target price Rs 100: Emkay Global

Buy L&T Finance Holdings, target price Rs 100: Emkay Global


Emkay Global has buy call on L&T Finance Holdings with a target price of Rs 100. The current market price of L&T Finance Holdings Ltd. is Rs 82.2.

Time period given by analyst is one year when L&T Finance Holdings Ltd. price can reach defined target.

L&T Finance Holdings Ltd., incorporated in the year 2008, is a Large Cap company (having a market cap of Rs 20950.53 Crore) operating in NBFC sector.

L&T Finance Holdings Ltd. key Products/Revenue Segments include Dividend, Interest for the year ending 31-Mar-2021.

Financials

For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 3134.46 Crore, down -2.09 % from last quarter Total Income of Rs 3201.49 Crore and down -10.67 % from last year same quarter Total Income of Rs 3508.91 Crore. Company reported net profit after tax of Rs 222.99 Crore in latest quarter.

Investment Rationale
The brokerage assumes coverage of LTFH with a Buy rating. Its Sep’22 TP of Rs100 is based on the SOTP approach, valuing the lending business at 1.0x Sep’23E BVPS and the AMC at 23x Sep’23E PE. Key downside risk: large ticket exposures slipping to NPA within housing and wholesale book.

Promoter/FII Holdings
Promoters held 63.59 per cent stake in the company as of 30-Jun-2021, while FIIs owned 8.79 per cent, DIIs 6.57 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.



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