Shriram City Union Finance Research Report By IIFL

Tagged: IIFL, Shriram City Union Finance

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December 30, 2014 at 9:05 pm #1512

Vidhi Khanna
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Trading at 2.2x FY17 P/ABV, SCUF’s valuation is attractive in the context of its niche, profitable and high growth business. Relatively, company deserves to trade at premium to peers due to its superior profitability profile. We believe valuation will re‐rate towards 3x FY17 P/ABV in the medium term. Initiate coverage with a BUY rating and 12‐month price target of Rs2,325.

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