Whalesbook
Achanak itna bada profit kaise aaya?
To bhaiyo, company ne Q4 FY26 mein ekdum dhamakedaar performance di hai. Net profit 3X badh kar ₹139 Crore ho gaya, jo pichhle saal is same quarter mein sirf ₹47 Crore tha. Iske saath, net interest income bhi 21% badh kar ₹387 Crore par pahunch gaya, aur total income ₹735 Crore ho gayi. Asset quality bhi sudhri hai, GNPA 1.2% aur Net NPA 0.6% par aa gaye hain. Isi khabar ne stock ko ₹321.70 ke 52-week high tak pahuncha diya, haalanki ab NSE par ₹312.05 ke aas-paas trade ho raha hai.
Valuation ka khel aur NBFC sector ka scene
Ab valuation ki baat karein toh, Northern Arc Capital ka P/E ratio 10.8x se 14.9x ke beech hai. Matlab, Bajaj Finance (~28.6x P/E) aur Shriram Finance (~19.3x P/E) jaise bade players ke comparison mein yeh kaafi attractive lag raha hai. Company ka market cap bhi ₹4,642 Crore se ₹4,930 Crore ke beech hai. Aur ROE bhi 11.1% se 12.45% tak hai, jo shareholder ke paison par ek acchi return dikha raha hai. NBFC sector bhi 2026 mein recover kar raha hai, analysts expect kar rahe hain ki loan growth 16-24% aur profit growth 26% tak ho sakti hai. Company ka AUM bhi 22% badh kar ₹16,594 Crore ho gaya hai.
Regulations ka impact aur kuch risks
Lekin bhai, NBFC sector mein regulations bhi badal rahi hain. Reserve Bank of India (RBI) ne digital lending ke liye kuch sakht rules banaye hain, jisse transparency aur borrower protection badhegi. Ek badi khabar yeh hai ki RBI ne February 2026 mein Default Loss Guarantee (DLG) rules ko thoda relax kiya hai. Isse companies ko capital par pada pressure kam hoga, jo pehle May 2025 ke rules se badh gaya tha. Par sab kuch accha hi accha nahi hai. MSME loan book mein rapid growth hai, jo thoda risky ho sakta hai agar underwriting strong na ho. Unsecured loans aur economic uncertainties bhi chinta ka vishay hain. Company ka interest coverage ratio bhi kuch sawal uthata hai, debt manage karne ko lekar.
Experts kya keh rahe hain aur company ka future plan
Brokerage firms bhi is par bullish hain. DAM Capital ne target ₹400 diya hai, jo around 40% ka upside dikhata hai. Motilal Oswal aur ICICI Securities ne bhi 'Buy' rating ke saath ₹390 aur ₹370 ke targets diye hain. Company ka plan hai FY2029 tak AUM ko double karne ka, jiske liye woh technology aur digital partnerships mein invest karne wale hain.