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Yes Securities Report
Home First Finance Ltd. has been among the few companies under our coverage where growth and earnings downgrade has been negligible through FY24.
From growth and return on equity standpoint, the co. has consistently met expectations. The growth outlook remains solid and RoE improvement trajectory appears intact, and hence the recent price correction makes the valuation attractive.
The stock trades at 17 times price-to-earning and 2.8 times price/adjusted book value on FY26 estimates for estimated earnings compound annual growth rate of 27-28% over FY23-26.
We retain 'Buy' and maintain 12 months target price of Rs 1140.
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