External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>CANF reported a muted disbursement growth of 3% QoQ and de-growth of 10% YoY.</li><li>This was primarily owing to a slowdown in certain branches post the employee-related fraud and also the impact of migration to a centralized process.</li><li>AUM grew by 16/3% YoY/QoQ, which was in line with our expectations. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CANF reported a muted disbursement growth of 3% QoQ and de-growth of 10% YoY.This was primarily owing to a slowdown in certain branches post the employee-related fraud and also the impact of migration to a centralized process.AUM grew by 16/3% YoY/QoQ, which was in line with our expectations. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd. - Growth to Pick-Up H2FY24 Onwards, Maintain BUY!

<div><div><div><div><ul><li>Disbursements slowed down by ~23% QoQ mainly owing to seasonality.</li><li>However, CANF reported a growth of ~14% YoY. AUM growth was in line with our expectations at ~18%/3% YoY/QoQ.</li><li>Salaried loans continued to dominate the loan mix with a share of ~73%. CANF’s focus will continue to remain on the salaried segment.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Disbursements slowed down by ~23% QoQ mainly owing to seasonality.However, CANF reported a growth of ~14% YoY. AUM growth was in line with our expectations at ~18%/3% YoY/QoQ.Salaried loans continued to dominate the loan mix with a share of ~73%. CANF’s focus will continue to remain on the salaried segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd - Growth Levers Intact, Maintain BUY!

<ul><li>CANF reported a ~6% YoY de-growth in disbursements and growth was muted on a sequential basis.</li><li>However, the AUM growth was healthy at 18% YoY, which was in line with the management’s guidance.</li><li>The share of salaried customers stood at 73% (vs. 74% YoY/QoQ). NII grew by 10/4% YoY/QoQ.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CANF reported a ~6% YoY de-growth in disbursements and growth was muted on a sequential basis.However, the AUM growth was healthy at 18% YoY, which was in line with the management’s guidance.The share of salaried customers stood at 73% (vs. 74% YoY/QoQ). NII grew by 10/4% YoY/QoQ.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd. - Margins To Improve, Eyeing High-Teen Growth!

<ul><li>Demand remains healthy despite inflationary pressures – The management stated that the demand in the affordable housing segment continues to remain healthy despite inflationary pressures.</li><li>This reassures the management to achieve a disbursement and AUM growth of 18-20% over the medium term.</li><li>Margins have bottomed out &amp; to improve hereon – The management believes that margins have bottomed out in Q3FY23 and should witness an improvement going forward</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Demand remains healthy despite inflationary pressures – The management stated that the demand in the affordable housing segment continues to remain healthy despite inflationary pressures.This reassures the management to achieve a disbursement and AUM growth of 18-20% over the medium term.Margins have bottomed out &amp; to improve hereon – The management believes that margins have bottomed out in Q3FY23 and should witness an improvement going forwardContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Can Fin Homes Ltd. - New MD CEO Appointment Key Positive, Maintain BUY!

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CanFin Homes (CFHL) was promoted by Canara Bank in 1987, with ~30% stake as of September 2022.</li><li>The HFC is spread across 204 locations across 21 states and UTs with south contributing ~72% of loans and focus on tier II &amp; III cities.</li><li>Most borrowers are first time home buyers with average age of 35 years.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CanFin Homes (CFHL) was promoted by Canara Bank in 1987, with ~30% stake as of September 2022.The HFC is spread across 204 locations across 21 states and UTs with south contributing ~72% of loans and focus on tier II &amp; III cities.Most borrowers are first time home buyers with average age of 35 years.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Can Fin Homes is a housing finance company promoted by Canara Bank, focusing primarily on individual housing loans for middle-aged first-time homebuyers in the affordable and middle-income sectors. The company provides housing loans for construction, purchase, and renovation, as well as non-housing loans like mortgage and top-up loans. Headquartered in Bengaluru, Karnataka, India, the company was founded in 1987.

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Can Fin Homes (CANF IN)

Can Fin Homes Ltd. - Growth to Pick-Up H2FY24 Onwards, Maintain BUY!

CANF reported a muted disbursement growth of 3% QoQ and de-growth of 10% YoY. This was primarily owing to a slowdown in certain branches post the...

Axis Direct

Can Fin Homes Ltd - Growth Levers Intact, Maintain BUY!

Salaried loans continued to dominate the loan mix with a share of ~73%. CANF’s focus will continue to remain on the salaried segment.

Axis Direct

Can Fin Homes Ltd. - Margins To Improve, Eyeing High-Teen Growth!

CANF reported a ~6% YoY de-growth in disbursements and growth was muted on a sequential basis. However, the AUM growth was healthy at 18% YoY,...

Axis Direct

Can Fin Homes Ltd. - New MD CEO Appointment Key Positive, Maintain BUY!

The management stated that the demand in the affordable housing segment continues to remain healthy despite inflationary pressures.

Axis Direct

CanFin Homes (CFHL) - In Sweet Spot

The HFC is spread across 204 locations across 21 states and UTs with south contributing ~72% of loans and focus on tier II & III cities.

ICICI Securities Limited

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