CRAR is 35%+ for both Namra and AFSL.
Collections are 95%+ which will decrease moving forward.
Leverage at 1.8x which is lowest in industry due to recent equity round.
Rating upgrade from June’24 to Aug’24.
Business cycle downturn led to reduced NIM, disbursement, collections.
Finance cost to reduce which will be beneficial to AFSL due to low leverage.
P/B ratio at low regions vs past.
Overall looks like a good entry.
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