i will disagree here .
lets look at last 4 quarters result vs previous 8 quarters result.
as we can see profit growth qoq was @10% (from q4fy15 PBT of 39 cr. to q4fy17 to 110 cr) but in last 4 quarters profit is stagnating (hardly any growth), mean while valuations are not very cheap at P/B @ 5 times. disbursement growth YOY is also slowing down. tailwinds(lower interest rates) are gone and with more headwinds (rising interest rates, more competition from newer and existing players) i see very little upside here. only saving grace was supposed improved performance driven by change in management or rerating .
disc: No Holding (sold out entirely in Q1FY18).