What does the community think about the company results?
What I like – Company is doing what they are saying. Very good ramp up of retail loans, now at 91%. They consolidated the subsidiaries and will report at consol level going forward. They have proven the retail model, achieved all their 2026 goals, 2 year in advance. They will easily achieve consolidated ROA of 2.8-3, now at 2.53.
CEO change was very well managed.
What I am worried about – Unsecured loans form 45-50%, they are managing risk well but credit cost hovers around 2.5%.
I don’t fully mathematically understand the high credit cost but low NS3. Restructured book plays a part.
I am trying to calculate their book value and estimate the future book balue. Net worth is given but with ramp down of wholesale book, restructured loans still underway, I am wondering how to do it. Appreciate any thoughts.
P.s. Invested and biased.
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