CreditAccess Grameen Q1 Review - Margin Expansion, Opex Efficiencies Led To A Strong Quarter: Motilal Oswal
Earnings performance typical of the leader within the NBFC-MFI sector.
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Motilal Oswal Report
CreditAccess Grameen Ltd. is primed to dominate the segment by:
providing the lowest-cost organised financing,
improving operational efficiency through continuous technology enhancement, and
integrating risk management in every process to drive superior asset quality and lower credit costs.
CreditAccess Grameen’s robust execution has been vindicated by its resilience across various credit cycles and external disturbances.
With strong capital position (tier-I of ~23.5%), the company can very well navigate any potential disruptions in the future and also capitalise on the growth opportunity over the medium term.
We reiterate our 'Buy' rating on the stock with a target price of Rs 1,660 (based on 3.2 times FY25E price/book value).
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