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AU SMALL FINANCE BANK LTD.

NSE : AUBANKBSE : 540611ISIN CODE : INE949L01017Industry : Bank - PrivateHouse : Private
BSE623.000.2 (+0.03 %)
PREV CLOSE ( ) 622.80
OPEN PRICE ( ) 639.90
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 25008
TODAY'S LOW / HIGH ( )610.30 639.90
52 WK LOW / HIGH ( )366.2 1217.7
NSE622.30-0.85 (-0.14 %)
PREV CLOSE( ) 623.15
OPEN PRICE ( ) 624.90
BID PRICE (QTY) 622.30 (583)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 420911
TODAY'S LOW / HIGH( ) 610.00 638.00
52 WK LOW / HIGH ( )366 1218
AnalystDate05 May 2020
BSECode540611
BlogURLNA
NoteDescriptionAUBANK loan growth has declined from 40% range, it has grown at a muted rate of 3% QoQ, mainly driven by the retail segment. The NIM has remained stable on the back of the decline in the incremental cost of funds. The C/I ratio stood elevated on the back of higher operating expenses which management has guided to taper down going forward. We remain cautious on the asset quality front on the back of COVID lockdown going ahead, as of April 2020 it has Rs 2300 Cr of the portfolio at stage 2 so we expect credit cost to remain elevated in the FY21. We have decreased our FY21 estimates by 20% majorly on the back of overall slow down in the auto industry and higher provisioning on the back of rising default in the COVID situation. The stock is currently trading at 3.8x FY20. We decrease our Target to Rs 555.
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