06 Feb 2023 Mannapuram Finance – Looking Good

Date: 06 Feb 2023
Stocks: Mannapuram Finance
Details:
Manappuram Finance

Upgrade from Phillips Capital n Systematix
TP of 150 n 155

Good Q3 aided by non gold biz

Asirvad delivers 100cr PBT n similar show to continue
22% capital adequacy-MFI well capitalized

Improved asset quality
RoA trending higher

Q4-good guidance
Current Price: 116
Target Price: 150

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