External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>With multiple handicaps simultaneously coming to the fore (sub-par deposit franchise, elevated stress in unsecured book leading to lower loan growth, and depleting margins), Indusind Bank (IIB) is likely to witness a collapse in its return ratios in FY25</li><li>However, given the expected heavy lifting on provisioning (FY25E: 1.6%), we believe return ratios are likely to bottom out between 1.2-1.3% in FY25E and improve by 25-35 bps over FY26-FY27E</li><li>Given its relatively diversified cash flow business (VF portfolio), a strong collection architecture and likely receding of cyclical stress, we expect the quality of earnings to improve H1FY26 onwards</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>

With multiple handicaps simultaneously coming to the fore (sub-par deposit franchise, elevated stress in unsecured book leading to lower loan growth, and depleting margins), Indusind Bank (IIB) is likely to witness a collapse in its return ratios in FY25However, given the expected heavy lifting on provisioning (FY25E: 1.6%), we believe return ratios are likely to bottom out between 1.2-1.3% in FY25E and improve by 25-35 bps over FY26-FY27EGiven its relatively diversified cash flow business (VF portfolio), a strong collection architecture and likely receding of cyclical stress, we expect the quality of earnings to improve H1FY26 onwardsContent 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.

IndusInd Bank: Worst Priced In, Better Times Ahead, Upgrade to ADD