Buy Equitas Small Finance Bank, target price Rs 115: Geojit Financial Services
Equitas Small Finance Bank with a target price of Rs 115. The current market price of Equitas Small Finance Bank is Rs 94.49 Time period given by analyst is year when Equitas Small Finance Bank price can reach defined target.
Equitas Small Finance Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 10780.55 crore).
Equitas Small Finance Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.
Financials The Bank has reported Standalone Non Performing Assets (Gross NPAs) at .00 % of total assets and Standalone Net Non Performing Assets (Net NPAs) at .00% of total assets for the quarter ending #LatestQuarterDate.
For the quarter ended 31-03-2024, the company has reported a Standalone Total Income of Rs 1685.11 crore, up 3.11% from last quarter Total Income of Rs 1634.27 crore and up 20.85% from last year same quarter Total Income of Rs 1394.42 crore. The bank has reported net profit after tax of Rs 207.62 crore in latest quarter.
Investment Rationale
Equitas SFB is expected to maintain its growth momentum with strong growth in business, investments in technology and product innovations, stable margins and improving asset quality. We expect the bank to grow its advance book at a CAGR of 22% over FY25-26E. Management?s success in keeping credit cost under control gives confidence for further reduction and resultantly, the ROA is expected to
