Latest news with #SUF
Economic Times
3 days ago
- Business
- Economic Times
HDFC Securities maintains Reduce call on Sundaram Finance; target price Rs 4,410
HDFC Securities has maintained a Reduce call on Sundaram Finance with a revised target price of Rs 4,410. The current market price of Sundaram Finance is Rs 5,180. Sundaram Finance, incorporated in 1954, is a Large Cap company with a market cap of Rs 57579.58 crore, operating in the NBFC sector. ADVERTISEMENT Sundaram Finance's key products/revenue segments include Interest, Dividend, Fees & Commission Income, Lease Rentals, Income From Sale Of Share & Securities, Bad Debts Recovery and Other Services 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 2300.22 crore, up 4.21% from last quarter Total Income of Rs 2207.35 crore and up 6.63% from last year same quarter Total Income of Rs 2157.27 crore. The company has reported net profit after tax of Rs 553.53 crore in the latest quarter. The company's top management includes Mr.S Viji, Mr.R Venkatraman, Fernandes, Balasubramanian, Mr.R Raghuttama Rao, Mr.L Ganesh, Mr.S Mahalingam, Mr.T T Srinivasaraghavan, Ram, Mr.A N Raju, C Lochan, Viji, Rao. Company has B K Khare & Co. as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Investment Rationale ADVERTISEMENT Sundaram Finance (SUF) reported a steady set of earnings with sustained reflation in NIMs and muted provisioning (-1bps), offset by lower other income. AUM growth marginally moderated further to +17% YoY (Q3FY25: 19% YoY; FY24: +27% YoY), driven by subdued disbursements (+11% YoY; +9% YoY for FY25) across segments, except cars and CE segments. Disbursement uptick remains a key monitorable as the overall CV and PV cycles remain soft. SUF?s product diversification strategy and interest rate reduction environment are likely to aid further reflation in NIMs. While SUF remains a pristine franchise with steady growth and profitability metrics (core RoE of 19% for FY25), current valuations provide limited upside amidst growth headwinds. HDFC Securities expects moderation in loan growth over FY26-FY27E (16% CAGR vs. 20% CAGR over FY23-FY25). The brokerage has tweaked its FY26E/FY27E earnings estimates for lower cost of funds and maintain a REDUCE rating with a revised SoTP-based target price of Rs 4,410 (standalone entity at 3.4x Mar-27 ABVPS; 17% discount to CIFC). (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
3 days ago
- Business
- Time of India
HDFC Securities maintains Reduce call on Sundaram Finance; target price Rs 4,410
Sundaram Finance's key products/revenue segments include Interest, Dividend, Fees & Commission Income, Lease Rentals, Income From Sale Of Share & Securities, Bad Debts Recovery and Other Services 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 2300.22 crore, up 4.21% from last quarter Total Income of Rs 2207.35 crore and up 6.63% from last year same quarter Total Income of Rs 2157.27 crore. The company has reported net profit after tax of Rs 553.53 crore in the latest quarter. The company's top management includes Mr.S Viji, Mr.R Venkatraman, Fernandes, Balasubramanian, Mr.R Raghuttama Rao, Mr.L Ganesh, Mr.S Mahalingam, Mr.T T Srinivasaraghavan, Ram, Mr.A N Raju, C Lochan, Viji, Rao. Company has B K Khare & Co. as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Live Events Investment Rationale Sundaram Finance (SUF) reported a steady set of earnings with sustained reflation in NIMs and muted provisioning (-1bps), offset by lower other income. AUM growth marginally moderated further to +17% YoY (Q3FY25: 19% YoY; FY24: +27% YoY), driven by subdued disbursements (+11% YoY; +9% YoY for FY25) across segments, except cars and CE segments. Disbursement uptick remains a key monitorable as the overall CV and PV cycles remain soft. SUF?s product diversification strategy and interest rate reduction environment are likely to aid further reflation in NIMs. While SUF remains a pristine franchise with steady growth and profitability metrics (core RoE of 19% for FY25), current valuations provide limited upside amidst growth headwinds. HDFC Securities expects moderation in loan growth over FY26-FY27E (16% CAGR vs. 20% CAGR over FY23-FY25). The brokerage has tweaked its FY26E/FY27E earnings estimates for lower cost of funds and maintain a REDUCE rating with a revised SoTP-based target price of Rs 4,410 (standalone entity at 3.4x Mar-27 ABVPS; 17% discount to CIFC). (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel HDFC Securities has maintained a Reduce call on Sundaram Finance with a revised target price of Rs 4,410. The current market price of Sundaram Finance is Rs 5,180. Sundaram Finance, incorporated in 1954, is a Large Cap company with a market cap of Rs 57579.58 crore, operating in the NBFC Finance's key products/revenue segments include Interest, Dividend, Fees & Commission Income, Lease Rentals, Income From Sale Of Share & Securities, Bad Debts Recovery and Other Services for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2300.22 crore, up 4.21% from last quarter Total Income of Rs 2207.35 crore and up 6.63% from last year same quarter Total Income of Rs 2157.27 crore. The company has reported net profit after tax of Rs 553.53 crore in the latest company's top management includes Mr.S Viji, Mr.R Venkatraman, Fernandes, Balasubramanian, Mr.R Raghuttama Rao, Mr.L Ganesh, Mr.S Mahalingam, Mr.T T Srinivasaraghavan, Ram, Mr.A N Raju, C Lochan, Viji, Rao. Company has B K Khare & Co. as its auditors. As on 31-03-2025, the company has a total of 11 crore shares Finance (SUF) reported a steady set of earnings with sustained reflation in NIMs and muted provisioning (-1bps), offset by lower other income. AUM growth marginally moderated further to +17% YoY (Q3FY25: 19% YoY; FY24: +27% YoY), driven by subdued disbursements (+11% YoY; +9% YoY for FY25) across segments, except cars and CE segments. Disbursement uptick remains a key monitorable as the overall CV and PV cycles remain soft. SUF?s product diversification strategy and interest rate reduction environment are likely to aid further reflation in NIMs. While SUF remains a pristine franchise with steady growth and profitability metrics (core RoE of 19% for FY25), current valuations provide limited upside amidst growth headwinds. HDFC Securities expects moderation in loan growth over FY26-FY27E (16% CAGR vs. 20% CAGR over FY23-FY25). The brokerage has tweaked its FY26E/FY27E earnings estimates for lower cost of funds and maintain a REDUCE rating with a revised SoTP-based target price of Rs 4,410 (standalone entity at 3.4x Mar-27 ABVPS; 17% discount to CIFC). (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Yahoo
20-03-2025
- Sport
- Yahoo
Singapore finswimmers, coaches pledge full cooperation in police probe into falsified SEA Games 2023 results
SINGAPORE, March 20 — Three Singapore finswimmers and two coaches have pledged full cooperation with the police investigation into falsified results submitted during the selection process for the 2023 SEA Games. In a joint statement today, athletes Vanessa Ong, Bernice Ting, and Jamie Ang, along with team manager Faiz Suhaimi and assistant coach Gary Lee, expressed confidence in the authorities and said they trust that 'the truth will prevail.' 'We are committed to cooperating fully with the investigation and respecting its integrity,' they said. Their commitment follows revelations by the Singapore National Olympic Council (SNOC) and Sport Singapore (SportSG) yesterday that the Singapore Underwater Federation (SUF) had submitted fabricated results for an event the swimmers never competed in. Notably absent from the statement were the fourth swimmer in the women's 4x200m surface relay, Jovita Ho, and her father, Desmond Ho, the SUF's former vice-president. Jovita told Channel News Asia (CNA) she had not been aware of a police investigation until the news broke, adding that she assumed the matter had been resolved after being interviewed by SNOC last August. Her father, Desmond, denied any role in submitting the results, stating that the task was handled by team manager Faiz. He also pointed to a divide in the finswimming community, saying attempts to communicate with the other coaches had gone unanswered. As investigations continue, questions remain over accountability, with athletes maintaining they were unaware of the falsified results. Finswimming teammate Lim Yao Xiang, who was not part of the 2023 SEA Games squad, said the sport's reintroduction to Singapore in 2021 had left qualifying standards unclear. However, he stressed that those in leadership positions must take responsibility. 'How can you be a leader or have a high position and claim zero responsibility?' he was quoted as saying by CNA.
