UjjivanFin Rating
NOMURA ON UJJIVAN FIN - 19.05.2021
* Ujjivan barely managed to remain profitable for FY21, Nomura says, downgrades stock to NEUTRAL and cuts profit estimates for FY22/23 by 65% / 15%
* DOWNGRADE NEUTRAL TARGET: 240
* Q4 Operationally Weak With A *75 Cr Interest Reversal Impacting PPop
* Managed To Remain Barely Profitable For FY21
* Negatively Surprised By Large NPAs Across All Segments
* Overall Stress Levels Remain High
* Colin Efficiency Declined 300 600 bps Across Segments In April 2021
