[Dilip Davda] Of late we have media reports of MSME loans turning NPAs for financiers, however, this company has shown a decline in its NPAs over the past three fiscals. But with rising competition, and RBI's frequently changing monetary policies, the company may suffer going forward as it has already marked a decline in its NIM for the last three fiscals. Based on its FY23 earnings, the IPO appears aggressively priced compared to its peers. Only well-informed/cash surplus/ risk seeker investors may park funds for the medium to long term in this costly IPO. Read detail review...

SBFC Finance IPO Peer Comparison

SBFC Finance Limited peer comparison with similar listed entities. () (As on March 31, 2023)

Company Name	EPS (Rs)		NAV (per share) (Rs)	P/E (x)	RoNW (%)
Company Name	EPS Basic	EPS Diluted	NAV (per share) (Rs)	P/E (x)	RoNW (%)
SBFC Finance Limited	1.71	1.62	19.26		9.93
Aavas Financiers Ltd	54.38	54.26	413.58	28.80	13.14
Home First Finance Company India Ltd	26.01	25.20	206.48	31.12	12.56
Aptus Value Housing Finance India Ltd	10.11	10.08	67.05	24.80	15.06
AU Small Finance Bank Ltd	21.86	21.74	164.64	35.01	13.01
Five Star Business Finance Limited	20.71	20.49	148.94	32.47	13.91

Notes:

Basic EPS sourced from the company's annual report for the year ended March 31, 2023. Diluted EPS refers to the Diluted EPS sourced from the annual report of the peers for the year ended March 31, 2023.
NAV is computed as the closing net worth divided by the closing outstanding number of equity shares as on March 31, 2023.
P/E Ratio has been computed based on the closing market price of equity shares on July 7, 2023 on BSE, divided by the Diluted EPS.
RoNW is computed as net profit after tax (including profit attributable to non-controlling interest) divided by closing net worth. Net worth has been computed as the sum of paid-up share capital and other equity.

SBFC Finance IPO Review by Members

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