Whalesbook
Deal hui set, Performance bhi zabardast!
Aditya Birla Capital ke Q4FY26 results kamaal ke rahe, aur saath hi Advent International ne bhi ek bada deal kar liya hai! Company ke NBFC aur HFC segments ne acchi performance dikhayi hai, jismein NBFC ka RoA 2.3% aur HFC ka 2.1% raha. Iske upar, Advent International ne Aditya Birla Housing Finance Limited (ABHFL) mein ₹2,750 crore ka investment kiya hai. Is deal se ABHFL ko 14.286% stake mila aur subsidiary ki valuation ho gayi ₹19,250 crore. Experts ko lagta hai ki is investment se ABHFL ki AUM growth FY26 se FY28 tak 30% se bhi zyada ho sakti hai.
Future Ki Planning Kya Hai?
Is deal ke baad, ICICI Securities ke analysts expect kar rahe hain ki FY27 tak ABCL ka NBFC business lagbhag 2.5% RoA tak pahunch sakta hai, aur Assets Under Management (AUM) 20-25% tak badh sakta hai. India ka NBFC sector bhi zoron par hai, jahan March 2027 tak AUM ₹50 lakh crore ko paar kar sakta hai. ABCL ka target hai ki woh sector ki average growth rate se tez badhe. Last quarter mein company ke net profit mein bhi 18.9% ka year-on-year jump dekhne ko mila tha. Overall, ABCL ka market cap filhaal ₹95,000 crore ke aas-paas hai.
Valuation Ka Chakkar Kya Hai?
Ab baat karte hain valuation ki. ABCL ka stock filhaal apne earnings ke 25-29 times par trade kar raha hai. Ye number uske 10-year average P/E (19.31) aur industry average P/E (23.3x) se kaafi upar hai. Ye L&T Finance (24.23x) aur Bajaj Housing Finance (28.04x) jaise peers ke aas-paas hai. Kuch valuation models toh yeh bhi keh rahe hain ki stock thoda overvalued ho sakta hai. Halanki, pichhle ek saal mein company ka market cap 81% aur stock price 74% badha hai.
Analysts Kya Keh Rahe Hain?
Valuation ko lekar thodi chinta hone ke bawajood, majority analysts is stock ko 'Strong Buy' keh rahe hain. Morgan Stanley ne apna 'Overweight' rating maintain rakha hai aur target price badha kar ₹408 kar diya hai. ICICI Securities ne bhi 'Buy' recommendation ke saath target ₹420 set kiya hai. Sabhi analysts ka average target ₹403.25 ke aas-paas hai, jo lagbhag 11-17% tak ka upside dikha raha hai. Company ki earnings 27.1% annual growth aur return on equity 14.8% tak pahunchne ki ummeed hai.