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Results
27-Jan-22
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Analysis
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Can Fin Homes
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Strong disbursements, sanctions and asset quality, AUM growth jump to 19%
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Can Fin Homes has posted 12% decline in
the net profit to Rs 115.69 crore in the quarter ended December 2021, mainly
driven by 1% decline net interest income and surge in operating expenses and provisions.
However, the company has continued to
exhibit improving performance on sequential basis. The interest income of the
company rose 1% yoy, while snapping decline for last four straight quarters.
The company has also improved margins and asset quality in Q3FY2022. The loan
growth accelerated sharply to 19% end December 2021 from 13% end September 2021
and 7% end June 2021. The disbursements and loan sanctions have more than
doubled in Q3FY2022.
The interest expenses rose 2% leading
to 1% decline in net interest income at Rs 212.16 crore. The operating expenses
increased 18% to Rs 37.66 crore leading to 4% decline in the operating profit
to Rs 174.71 crore.
The provisions increased to Rs 16.36
crore in Q3FY2022 from Rs 1.63 crore in Q3FY2022, while depreciation increased 5%
to Rs 2.69 crore. PBT fell 12% to Rs 155.66 crore.
An effective tax rate was steady at 25.7%,
leading to 12% decline in the net profit to Rs 115.69 crore.
Book Value per share stood at Rs 221.2 per share at end December 2021, while adjusted book value (net of NNPA and 10% of restructured advances) stood at Rs 208.7 per share at end December 2021.
Business
highlights
The disbursement of the company galloped
124% to Rs 2472 crore, while sanctions improved 120% to Rs 2762 crore.
The loan book moved up at an
accelerated 19% to Rs 25091 crore. About 74% of the outstanding loan book is
from Salaried Professionals. Further 90% of loam book is home loans.
The net interest margin of the company
has improved to 3.74% in Q3FY2022 from 3.53% in Q2FY2022. The yield on advances
rose to 8.05% from 7.99% in Q2FY2022. The cost of funds has eased to 5.56% from
5.57% a quarter ago.
Capital adequacy ratio stood at 24.8% compared
with 25.22% a quarter ago and 24.37% a year ago.
Gross NPA ratio of the company declined
to 0.71% and net NPA ratio fell 0.39% end December 2021 compared with 0.78% and
0.47% end September 2021.
Financial
performance 9MFY2022
Interest income declined 8% to Rs 1426.84
crore, while interest expense fell 11% to Rs 834.96 crore, leading to 4% decline
in net interest income to Rs 591.88 crore. Operating expenses moved up 31% to
Rs 97.25 crore. Operating profit moved declined 9% to Rs 495.0 crore.
Provisions dipped 73% to Rs 16.70 crore, while depreciation increased 6% to Rs 7.58
crore. PBT fell 1% to Rs 470.72 crore. An effective tax rate rose to 26.0% from
25.7%. Net profit declined 2% to Rs 348.18 crore in 9MFY2022.
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Can Fin Homes: Results
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2112 (3)
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2012 (3)
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Var %
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2112 (9)
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2012 (9)
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Var %
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2103 (12)
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2003 (12)
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Var %
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Interest Inc.
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508.27
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502.72
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1
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1426.84
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1550.87
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-8
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2018.14
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2030.41
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-1
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Interest Exp.
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296.11
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289.21
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2
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834.96
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933.49
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-11
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1208.33
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1344.21
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-10
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Net Interest Inc.
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212.16
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213.51
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-1
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591.88
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617.38
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-4
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809.81
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686.20
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18
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Other inc.
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0.21
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0.05
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320
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0.37
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0.21
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76
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0.29
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0.04
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625
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Total inc.
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212.37
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213.56
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-1
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592.25
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617.59
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-4
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810.10
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686.24
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18
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Op. Exp.
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37.66
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31.90
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18
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97.25
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74.01
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31
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114.42
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98.17
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17
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OP
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174.71
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181.65
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-4
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495.00
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543.58
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-9
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695.68
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588.07
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18
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Woff/Prov. of B/D
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16.36
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1.63
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904
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16.70
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60.87
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-73
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68.53
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60.32
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14
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Dep.
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2.69
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2.55
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5
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7.58
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7.14
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6
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9.57
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9.47
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1
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PBT
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155.66
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177.48
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-12
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470.72
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475.57
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-1
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617.58
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518.29
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19
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Total Tax
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39.97
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45.55
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-12
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122.54
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122.08
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0
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161.52
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142.17
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14
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PAT
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115.69
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131.92
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-12
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348.18
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353.49
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-2
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456.06
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376.12
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21
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EPS*(Rs)
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34.8
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39.6
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34.9
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35.4
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34.3
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28.2
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* On current equity of
Rs 26.63 crore. Face Value: Rs 2
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Figures in Rs crore,
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Source: Capitaline
Corporate Database
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Previous News |
Can Fin Homes
(
Analyst Meet / AGM
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Conference Call
23-Jul-24
09:23
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Board of Can Fin Homes appoints director
(
Corporate News
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20-Jun-23
10:42
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Sensex down 298 pts; broader mkt outperforms
(
Market Commentary
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Mid-Session
20-Jun-23
10:36
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Can Fin Homes
(
Results
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Analysis
22-Jul-22
19:55
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Can Fin Homes receives upgrade in long term issuer ratings
(
Corporate News
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22-Dec-23
16:04
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Can Fin Homes standalone net profit rises 15.04% in the June 2020 quarter
(
Results
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Announcements
25-Aug-20
16:43
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Board of Can Fin Homes to consider raising Rs 2525 via NCD issue
(
Corporate News
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23-Mar-22
08:39
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Can Fin Homes
(
Results
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14:26
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Can Fin Homes appoints former Bandhan Bank Housing Finance head as MD, CEO
(
Hot Pursuit
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20-Mar-23
08:58
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Can Fin Homes to consider fund raising options
(
Corporate News
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23-Jul-22
12:41
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Hot Pursuit
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11:00
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