Please refer to important disclosures at the end of this report
1
Shriram City Union Finance (SCUF) is part of the three-decade-old Shriram
Group. It is a deposit-accepting non-banking financial company (NBFC). Fo
r
Q1FY17 SCUF reported a good set of numbers, PAT stood at `182Cr, higher b
y
23.1%, YoY. Income from operation was at `1,053.45cr, higher by 15.4%. Net
interest Income, at `686.24cr, grew by 19.7%.Asset quality was stable. Asset
under Management (AUM) grown by 17%, at `2,0473cr. Housing finance
reported stellar growth of 72% in AUM. Overall business momentum increased
with Clear improvement across metrics with accelerated disbursement growth.
Ajay Piramal, Shriram Group plan to combine finance businesses which we
believe will beneficial for long term. Considering improving the fundamental and
clear focus of promoter will bodes well for SCUF. Hence Buy.
BUY
CMP `2,260
Stock Info
Sector
Beta 0.6
Bloomberg Code SCUF IN
Shareholding Pattern (%)
Promoters 33.8
MF / Banks / Indian Fls 2.0
FIIs/NRIs/OCBs 16.1
Indian Public / Others 48.1
Abs. (%) 3m 1yr 3yr
Sensex 6.3 8.1 53.2
Shri. City Union 42.1 37.2 155.5
Market Cap (
`
cr) 14,900
Finance (incl. NBFC)
52 Week High / Low 2350/1337
Avg. Daily Volume 12,120
Face Value (
`
)10
BSE Sensex 28,978
Nifty 8,943
Reuters Code SHCU.BO
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Shriram City Union Finance
Others | Finance (including NBFC)
September 7, 2016
Shriram City Union Finance | Others
September 7, 2016
2
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website: www.angelbroking.com
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