June 16, 2024

Home First Finance – Strong Execution To Continue: Yes Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Home First Finance Ltd. has been among the few companies under our coverage where growth and earnings downgrade has been negligible through FY24.

From growth and return on equity standpoint, the co. has consistently met expectations. The growth outlook remains solid and RoE improvement trajectory appears intact, and hence the recent price correction makes the valuation attractive.

The stock trades at 17 times price-to-earning and 2.8 times price/adjusted book on FY26 estimates for estimated earnings compound annual growth rate of 27-28% over FY23-26.

We retain ‘Buy’ and maintain 12 months target price of Rs 1140.

Click on the attachment to read the full report:


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