External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

Equity Bottom-Up

<ul><li>Rural Electrification Corp (RECL)’s 3QFY25 PAT grew ~23% YoY to INR40.3b. NII grew ~20% YoY to ~INR51.3b. Other income rose ~260% YoY to~INR2b.</li><li>Opex rose ~78% YoY/~63% QoQ to ~INR3.1b and the cost-to-income ratio was ~5% (PQ: 3.1% and PY: ~4.7%).</li><li>The sequential jump in opex was mainly due to higher CSR expenses. PPoP rose ~20% YoY to INR50.2b in 3QFY25. Yields (calc.) rose ~3bp QoQ to ~10.01%, while CoB increased ~4bp QoQ to ~7.32%, resulting in a largely stable spread QoQ at ~2.7%.</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>

Rural Electrification Corp (RECL)’s 3QFY25 PAT grew ~23% YoY to INR40.3b. NII grew ~20% YoY to ~INR51.3b. Other income rose ~260% YoY to~INR2b.Opex rose ~78% YoY/~63% QoQ to ~INR3.1b and the cost-to-income ratio was ~5% (PQ: 3.1% and PY: ~4.7%).The sequential jump in opex was mainly due to higher CSR expenses. PPoP rose ~20% YoY to INR50.2b in 3QFY25. Yields (calc.) rose ~3bp QoQ to ~10.01%, while CoB increased ~4bp QoQ to ~7.32%, resulting in a largely stable spread QoQ at ~2.7%.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.

Rural Electrification Corp - Minor Weakness in AUM Growth Due to Higher Rundown