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You are here : IndiaNotes >> Research & Analysis >> Companies >> Sundaram Finance Ltd. >> Research

Sundaram Finance: Deposit base crosses Rs16000 mn, buy

Firstcall India Equity | 18 Sep, 2014  | Follow Author | Add to my Favourites 
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Highlights:


- Sundaram Finance Ltd incorporated in 1954 has grown today into one of the most trusted financial services groups in India.


- During Q1 FY15, the company’s net profit jumps to Rs. 1222.40 million against Rs. 1159.93 million in the corresponding quarter ending of previous year, an increase of 5.39%.


- Revenue for the quarter just rose by 0.64% to Rs. 5405.45 million from Rs. 5370.90 million, when compared with the prior year period.


- EPS of the company stood at Rs. 11.00 a share during the quarter, registering 5.39% increased over previous year period.


- Profit before interest, depreciation and tax is Rs. 4767.49 million as against Rs. 4640.92 million in the corresponding period of the previous year.


- The deposit base of the Company has crossed Rs. 16000 million and stood at Rs. 16660 million as on 31 March, 2014.


- The Average Assets under Management of the Company were Rs. 152480 mn for the year 2013- 14.


- Net Sales and PAT of the company are expected to grow at a CAGR of 8% & 10% over 2013 to 2016E respectively.


Outlook and Conclusion:
At the current market price of Rs.1146.00, the stock P/E ratio is at 26.01 x FY15E and 23.26 x FY16E respectively. Investors are recommended to buy the stock for a target price of Rs.1260.00 for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


For more information please write in to [email protected]

 

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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