The financial title Multibagger jumped 850% in 2 years. Brokerage has ‘Buy’ tag after Q1 results

to get high ₹28 levels each in July 2020, the multibagger stock has skyrocketed over 850% over the 2-year period to currently trade at ₹268 each on BSE. Poonawalla Fincorp is a financial services arm of the Poonawalla Group.

Poonawalla Fincorp Ltd (PFL) has announced assets under management of ₹176.6 billion, up 22.4% year-on-year (YoY) and 6.5% sequentially. The share of discontinued products decreased to 13% of assets under management (AUM) from 44% in 1Q22 and 18% in 4Q22. Organic disbursements were strong, up 7.1x year-on-year and 25% quarter-on-quarter, while total disbursements were up 98% year-on-year and 3% year-over-year. in the previous quarter.

“PFL’s strong capital adequacy cushion (46%+) and low CoB advantage give it an edge to achieve its FY2025 vision of tripling its AUM,” the brokerage said. Nirmal Bang which has a buy rating on Poonawalla Fincorp shares with a target price of ₹314 each.

The company consolidated its leading position in the used vehicles and loans to professionals segments. Asset quality in new business segments remained better than management’s expectations, with 30+ book at

Non-banking finance company (NBFC) Magma Fincorp Ltd (Magma) announced in July that it had changed its name to Poonawalla Fincorp Limited effective July 22, 2021, following the acquisition of a majority stake by Adar Poonawalla, run by Rising Sun Holdings Private Limited. .

After merging larger Magma Fincorp last year, the company had written over ₹700 crore in failed loans inherited, its managing director Abhay Bhutada told PTI, adding that the bad debts of Magma’s assets have all been provisioned or written off.

The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint

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