Can Fin Homes Limited: Value Pick Stock September 2022, Update
Update
“MD & CEO Resign”
Can Fin Home Limited, a housing finance firm in its BSE filing said that, Shri Girish Kousgi (MD & CEO) has conveyed to the Board of the company today (September 19, 2022) about his decision to resign from the post of “Managing Director & Chief Executive Officer” of the firm owing to personal reasons.
The Company however has said that Girish Kousgi will continue to serve as the MD & CEO and discharge his duties till the date of relieving.
Kousgi joined Can Fin Homes Limited as a Managing Director & CEO back in September 2019, and has held the job since the past 3 years.
Girish Kousgi has an overall experience of 18 years in financial and banking services.
The share of Can Fin Homes Ltd today closed at INR 587 (DOWN 7.56%) on the NSE with a volume of 30,91,324 shares.
Also Read: Nifty prediction for September 2022
7 September 2022
Can Fin Homes Limited is a Housing Finance Company established in the year 1987 with the primary objective to provide housing finance.
Can Fin Homes – History
Can Fin Homes was incorporated on 29th October in Bangalore. The company has been promoted by Canara Bank, jointly with Canbank Financial Services Limited, UTI, HDFC, and ICICI.
Can Fin Homes – Business
Can Fin Homes provide long-term housing loans to individuals and corporate bodies for construction or acquiring houses or flats.
The Company focuses on funding to low and middle-income group individuals as well as first-time homebuyers’ preferably salaried people or professionals.
However, since 2014 the company has increased its exposure to self-employed professionals and non-professionals.
Can Fin Homes – Product Mix
The company mainly has 3 segments (Product Mix) –
- Housing finance (average ticket size is 18 lacs for housing loans)
- Non-housing Finance (average ticket size is 9 lacs for non-housing loans
- Deposits (accepts fixed and cumulative deposits as per the rules of the National Housing Bank)
Can Fin Homes – Network
The Company has a pan India presence with 188 Branches, 21 Affordable Housing Loan Centres (AHLCs), and 12 Satellite Offices (SOs); 198 outlets in total over 100 cities spread across 21 States and Union Territories.
The total number of employees increased from 205 in March 2010 to 838 in Dec 2020.
Road Ahead
The Company’s conscious focus is to penetrate deeper into its known territory in the Southern India region while expanding to potential centres in other parts of the country.
Management Team
- Girish Kousgi (MD & CEO)
- Amitabh Chatterjee (Deputy MD)
- Shamila M (General Manager)
Listed On:
The share of Can Fin Homes Ltd is presently listed on the Bombay Stock Exchange (BSE); CODE 511196 and National Stock Exchange (NSE) as CANFINHOME
Stock Info: Can Fin Homes
Share Holding Pattern
Financials
Conclusion
Can Fin Homes Limited is one of the top players in the housing finance sector, in the country today.
The Company has completed 34 years of operation in the field of home finance and has a renowned history of making profits and paying dividends continuously.
Some of the top institutions like UTI Arbitrage Fund, Canara Robeco Mutual Fund, Axis Mutual Fund Trustee Ltd, L And T Mutual Fund Trustee Ltd, Pgim India Trustees Private Ltd, Invesco India Arbitrage Fund, DSP Flexi Cap Fund, Sundaram Mutual Fund, and Edelweiss Trusteeship Co Ltd are having more than a 1% stake in the company (as of June 2022).
Can Fin homes numbers for June 2022 quarter; Net Sales at INR 612 Cr (UP 36% Y-O-Y and 10% Q-O-Q) while Net Profit at INR 162 Cr (UP 49% Y-O-Y and 32% Q -O-Q)
On the technical front, can fin homes share price is trading above its 21 EMA (617) and 50 EMA (577) on the daily chart.
Keeping the above-listed factors in mind, Can Fin Home looks good at INR 635. Finblab recommends investing in the stock in a staggered manner for the medium to the long haul (3 to 5 years period).
Also Read
Clean Science & Technology Limited: Value Pick Stock August 2022
Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I (Vishal Dalwadi) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.
