25-04-2025
Add 360 One Wam, target price Rs 1,173: ICICI Securities
ICICI Securities has maintained
Add call
on
360 One Wam
with a target price of Rs 1,173. The current market price of
360 One Wam Ltd.
is Rs 1018.65. 360 One Wam, incorporated in 2008, is a Mid Cap company with a market cap of Rs 40024.75 crore, operating in the NBFC sector.
360 One Wam's key products/revenue segments include Fees & Commission Income for the year ending 31-Mar-2024.
Financials
For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 921.69 crore, down -1.35% from last quarter Total Income of Rs 934.34 crore and down -12.32% from last year same quarter Total Income of Rs 1051.20 crore. The company has reported net profit after tax of Rs 249.60 crore in the latest quarter.
The company's top management includes Vikamsey, Mandawat, Ashok, Kumar Gupta, Vaish, Narayan, Mathur, Shah, Mr.R Venkataraman, Jain, Bhagat, Singh. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 39 Crore shares outstanding.
Investment Rationale
Considering the growth opportunities and synergies from the B&K acquisition and UBS collaboration, structural opportunity in wealth management alongwith a new segment (HNI) and the play on alternatives through the asset management segment, ICICI Securities maintains the multiple at 35x on FY27E EPS of Rs 33.5. They now factor in additional dilution due to UBS buying 4.95% stake in 360One. The brokerage added 20.5mn new shares, expecting the deal to be completed before FY27E. Their target price is unchanged at Rs 1,173.
Promoter/FII Holdings
Promoters held 14.2 per cent stake in the company as of 31-Mar-2025, while FIIs owned 67.22 per cent, DIIs 8.48 per cent.
