Aptus Value Housing share price: Buy Aptus Value Housing Finance India, target price Rs 325: ICICI Securities

ICICI Securities has buy call on Aptus Value Housing Finance India with a target price of Rs 325.0. The current market price of Aptus Value Housing Finance India is Rs 273.75.

Aptus Value Housing Finance India, incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 13641.05 crore) operating in NBFC sector.

Aptus Value Housing Finance India key Products/Revenue Segments include Interest, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2022.

Investment Rationale
Our interaction with the top management suggests that with stable management team and focused approach (founder owning ~25% in company and would hold executive chairman position till Dec’24), 100% in-house operations helping in lowering customer churn and maintaining customer quality, AUM mix driving steady 17% yield (one of the highest within AHFC space) and tight control on asset quality, the company is well positioned to outpace industry AUM growth and sustain industryleading profitability in medium term. It delivered 30% AUM growth and >8% RoA in FY23.

For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 308.38 crore, up 4.60 % from last quarter Total Income of Rs 294.81 crore and up 31.59 % from last year same quarter Total Income of Rs 234.34 crore. Company has reported net profit after tax of Rs 135.30 crore in latest quarter.

The company’s top management includes Mr.M Anandan, Mr.Kanarath Payattiyath Balaraj, Mr.Suman Bollina, Mr.Shailesh Jayantilal Mehta, Ms.Mona Kachhwaha, Mr.V G Kannan, Mr.Krishnamurthy Vijayan, Mr.Sankaran Krishnamurthy, Mr.Kandheri Munuswamy Mohandass, Mr.Sumir Chadha. Company has T R Chadha & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 50 crore shares outstanding.

Promoter/FII Holdings
Promoters held 62.2 per cent stake in the company as of 31-Mar-2023, while FIIs owned 14.06 per cent, DIIs 2.59 per cent.

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