BSE: 540611 | NSE: AUBANK | Bank - Private | Mid Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that AU Small Finance Bank Ltd is a good quality company.
The key valuation ratios of AU Small Finance Bank Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of AU Small Finance Bank Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income (₹ Cr.) | 278 | 405 | 615 | 784 | 940 | 1,343 | 1,909 | 2,365 | 3,234 | 4,425 | 6,557 | |
| YoY Gr. Rt. % | - | 45.7% | 51.9% | 27.4% | 20% | 42.8% | 42.2% | 23.9% | 36.7% | 36.8% | - | |
| Total Income | 571 | 689 | 1,071 | 2,090 | 2,155 | 3,411 | 4,992 | 6,371 | 6,915 | 9,240 | 15,434 | |
| YoY Gr. Rt. % | - | 20.7% | 55.4% | 95.1% | 3.1% | 58.3% | 46.4% | 27.6% | 8.6% | 33.6% | - | |
| Adj EPS (₹ ) | 16.9 | 31.6 | 48 | 14.5 | 5.1 | 6.5 | 11.1 | 18.8 | 17.9 | 21.4 | 24.5 | |
| YoY Gr. Rt. % | - | 87.4% | 51.8% | -69.9% | -64.7% | 27.8% | 69.8% | 69.1% | -4.3% | 19.4% | - | |
| BVPS (₹ ) | 139.1 | 173.9 | 228.5 | 34.9 | 39.6 | 50.4 | 71.1 | 98.8 | 118.7 | 164 | 214.4 | |
| YoY Gr. Rt. % | - | 25% | 31.4% | -84.8% | 13.7% | 27.1% | 41.2% | 39% | 20% | 38.2% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 2.4 | 4.1 | 4.1 | 8.4 | 2 | 1.5 | 1.8 | 2.5 | 1.9 | 1.8 | 1.3 | |
| To view Net NPA to Net Advances (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 1.2 | 1.3 | 1.3 | 0.8 | 2.2 | 0.5 | 0.4 | 0.8 | |
| To view Capital Adequacy Ratio (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Capital Adequacy Ratio (%) | - | - | - | - | - | - | - | - | - | - | 23.59 | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 36% | 36.3% | 32.4% | 36.8% | ||||
| Total Income | 36.2% | 33.8% | 22.8% | 33.6% | ||||
| Adj EPS | 2.7% | 33.2% | 24.5% | 19.4% | ||||
| BVPS | 1.8% | 32.9% | 32.1% | 38.2% | ||||
| Share Price | - | 7.8% | -0.7% | -17.4% | ||||
| RATIOS \ YEARS | Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Earned / Total Income | 98.98 | 99.65 | 94.33 | 61.25 | 81.99 | 86.46 | 85.86 | 77.7 | 85.63 | 88.8 | 85.8 | |
| Margins | To view Margins Colour Rating Guide click here ⓘ | |||||||||||
| NIM (%) | 0 | 0 | 0 | 8.4 | 5.2 | 4.2 | 4.7 | 4.7 | 4.8 | 5 | 4.7 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 14 | 20.4 | 23.9 | 41.5 | 13.8 | 14.7 | 18.6 | 22.3 | 16.6 | 15.5 | 11.7 | |
| Liquidity Ratio | To view Liquidity Ratio Colour Rating Guide click here ⓘ | |||||||||||
| CASA (%) | 0 | 0 | 0 | 0 | 26.9 | 18.5 | 14.5 | 23 | 37.3 | 38.4 | - | |
Total Income has increased 22.78 CAGR in last 3 years
Net Profit has increased 24.54 CAGR in last 3 years
Net NPA to Net Advances has declined versus last 3 years average
Total income growth is not so good in last 4 quarters
Return on Equity has declined versus last 3 years average to 12.90%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 24.5 | 24.3 |
| TTM Sales (₹ Cr.) | 13,245 | 1,429 |
| BVPS (₹.) ⓘ | 214.4 | 0 |
| Reserves (₹ Cr.) ⓘ | 15,204 | - |
| P/BV ⓘ | 2.75 | 0.00 |
| PE ⓘ | 24.12 | 24.30 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 554.00 / 813.00 |
| All Time Low / High (₹) | 183.10 / 813.00 |
| Market Cap (₹ Cr.) | 43,886 |
| Equity (₹ Cr.) | 743.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 17.6 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|
| Income | 2,090 | 2,155 | 3,411 | 4,992 | 6,371 | 6,915 | 9,240 | 12,301 |
| Interest Income | 1,280 | 1,767 | 2,949 | 4,286 | 4,950 | 5,922 | 8,205 | 10,555 |
| Other Income ⓘ | 810 | 388 | 462 | 706 | 1,421 | 994 | 1,034 | 1,746 |
| Expenditure | 1,268 | 1,863 | 3,029 | 4,317 | 5,200 | 5,786 | 7,812 | 10,766 |
| Interest Expense | 496 | 827 | 1,607 | 2,377 | 2,585 | 2,688 | 3,780 | 5,398 |
| Operating Expenses | 353 | 753 | 1,083 | 1,418 | 1,658 | 2,413 | 3,440 | 4,465 |
| Provisions | 419 | 284 | 340 | 522 | 957 | 685 | 592 | 903 |
| Profit Before Tax | 1,143 | 443 | 580 | 914 | 1,459 | 1,454 | 1,865 | 1,999 |
| Taxes | 321 | 151 | 198 | 239 | 288 | 324 | 437 | 465 |
| Profit After Tax | 822 | 292 | 382 | 675 | 1,171 | 1,130 | 1,428 | 1,535 |
| Adjusted EPS (₹) | 14.46 | 5.11 | 6.53 | 11.09 | 18.75 | 17.94 | 21.42 | 22.93 |
| Dividend Payout Ratio (%) | 0% | 5% | 6% | 0% | 0% | 3% | 5% | 4% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Share Capital ⓘ | 284 | 286 | 292 | 304 | 312 | 315 | 667 | 669 | ||
| Total Reserves ⓘ | 1,697 | 1,978 | 2,653 | 4,021 | 5,860 | 7,158 | 10,267 | 11,828 | ||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Deposits | 0 | 7,923 | 19,422 | 26,164 | 35,979 | 52,585 | 69,365 | 87,182 | ||
| Borrowings ⓘ | 7,120 | 7,639 | 8,613 | 10,335 | 7,030 | 5,991 | 6,299 | 5,479 | ||
| Other Liabilities | 680 | 1,007 | 1,642 | 1,319 | 2,410 | 3,030 | 3,619 | 4,267 | ||
| Total Liabilities ⓘ | 9,781 | 18,833 | 32,623 | 42,143 | 51,591 | 69,078 | 90,216 | 1,09,426 | ||
Assets | ||||||||||
| Balance with RBI | 13 | 492 | 811 | 1,050 | 1,569 | 5,753 | 8,916 | 4,638 | ||
| Balance with Banks | 612 | 1,269 | 929 | 2,320 | 3,212 | 175 | 509 | 1,738 | ||
| Investments ⓘ | 2,150 | 3,051 | 7,162 | 10,668 | 10,815 | 15,307 | 20,072 | 27,133 | ||
| Advances | 6,551 | 13,312 | 22,819 | 26,992 | 34,609 | 46,095 | 58,422 | 73,163 | ||
| Net Block ⓘ | 36 | 380 | 440 | 438 | 477 | 609 | 707 | 784 | ||
| Other Assets | 179 | 323 | 455 | 665 | 903 | 1,125 | 1,557 | 1,902 | ||
| Total Assets ⓘ | 9,781 | 18,833 | 32,623 | 42,143 | 51,591 | 69,078 | 90,216 | 1,09,426 | ||
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -2,405 | 2,505 | 848 | 660 | 5,056 | 6,849 | 5,494 | 2,608 |
| Cash Flow From Investing Activity ⓘ | 552 | -1,890 | -2,305 | -1,267 | -990 | -4,753 | -4,320 | -4,855 |
| Cash Flow From Financing Activity ⓘ | 2,448 | 521 | 1,436 | 2,237 | -2,655 | -948 | 2,323 | -802 |
| Net Cash Flow ⓘ | 596 | 1,136 | -21 | 1,629 | 1,412 | 1,147 | 3,497 | -3,049 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 29 | 10 | 13 | 22 | 38 | 36 | 21 | 23 | ||
| DPS (₹) | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | ||
| BVPS (₹) | 70 | 79 | 101 | 142 | 198 | 237 | 164 | 187 | ||
Margin Ratios | ||||||||||
| Yield on Advances (%) | 19.5 | 13.3 | 12.9 | 15.9 | 14.3 | 12.9 | 14.1 | 14.4 | ||
| Yield on Investments (%) | 31.8 | 5.5 | 5.0 | 7.4 | 15.1 | 6.0 | 5.7 | 6.2 | ||
| Cost of Liabilities (%) | 7.0 | 5.3 | 5.7 | 6.5 | 6.0 | 4.6 | 5.0 | 5.8 | ||
| NIM (%) | 8.4 | 5.2 | 4.2 | 4.7 | 4.7 | 4.8 | 5.0 | 4.8 | ||
| Interest Spread (%) | 12.6 | 8.0 | 7.2 | 9.4 | 8.3 | 8.3 | 9.1 | 8.6 | ||
Performance Ratios | ||||||||||
| ROA (%) | 8.4 | 2.0 | 1.5 | 1.8 | 2.5 | 1.9 | 1.8 | 1.5 | ||
| ROE (%) | 41.5 | 13.8 | 14.7 | 18.6 | 22.3 | 16.6 | 15.5 | 13.1 | ||
| ROCE (%) | 18.0 | 11.7 | 11.9 | 12.7 | 15.6 | 14.0 | 15.0 | 14.0 | ||
Efficiency Ratios | ||||||||||
| Cost to Income Ratio (%) | 22.1 | 56.7 | 60.0 | 54.2 | 43.8 | 57.1 | 63.0 | 64.7 | ||
| Operating Costs to Assets (%) | 3.6 | 4.0 | 3.3 | 3.4 | 3.2 | 3.5 | 3.8 | 4.1 | ||
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 7.8 | 5.9 | 3.6 | 6.2 | 5.3 | 3.5 | 3.0 | ||
The company was originally incorporated as ‘L.N. Finco Gems Private Limited’ on January 10, 1996 as a private limited company under the Companies Act, 1956 with the RoC. Pursuant to the change of name of the company to Au Financiers (India) Private Limited to reflect the diversified finance business of the company, a fresh certificate of incorporation was issued by the RoC on May 24, 2005. The company was converted into a public limited company by way of a special resolution passed by its shareholders at the EGM held on January 10, 2013 and the name of the company was changed to ‘Au Financiers (India) Limited’. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the RoC on January 11, 2013. The company was granted the in-principle approval to establish an SFB by the RBI, pursuant to its letter dated October 7, 2015. Subsequently, the RBI granted the company the final approval to establish an SFB by its letter dated December 20, 2016. Pursuant to the company being established as an SFB, the name of the company was changed to ‘AU Small Finance Bank Limited’ and a fresh certificate of incorporation was issued by the RoC on April 13, 2017.
The company is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused non-banking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels. It received a license from the Reserve Bank of India to set up an SFB on December 20, 2016 and it was the only NBFC categorized as an asset finance company to obtain such license. It commenced its SFB operations with effect from April 19, 2017. Prior to such date, the company was categorized as a ‘Systemically Important, Non-Deposit Accepting Asset Finance Company’ (NBFCND- AFC) by the RBI.
Business area of the company
As an NBFC, the company operated in three business lines: vehicle finance; micro, small and medium enterprises (MSMEs) loans; and small and medium enterprises (SMEs) loans. As it commenced the SFB operations, it has expanded and strengthened its business model to offer a diverse suite of banking products and services by leveraging its asset-based lending strengths, NBFC customer base and cost efficient, technology driven hub-and spoke branch operating model to successfully operate the SFB. In addition to its vehicle finance, MSME and SME offerings, its asset product offerings include working capital facilities, gold loans, agriculture related term loans, Kisan credit cards for farmers and loans against securities. Its liability product offerings include current accounts, savings accounts, term deposits, recurring deposits and collections and payments solutions for MSME and SME customers. Transitioning to an SFB has offered it significant growth potential and it aims to be a retail focused, preferred trusted SFB offering integrated and tailored solutions to customers.
Awards:
History and Milestones:
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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