Excellent results so far upto Q3 FY23.
Use 12ft .io to jump pay wall to see guidance for FY23
16122022071714_Indian_Overseas_Bank (2) (1).pdf (128.7 KB)
Management has delivered so far in FY23
- We aim to achieve a 25% year-on-year rise in net profit every quarter this fiscal. (On track)
- Gnpa will reduce below 8%. (Almost below 8% from 10%)
- Credit to Deposit will be 62% by end of fiscal
- Nims to maintain around 2.65%
Book value has jumped from ₹12 to ₹14.97. ROA has improved to 0.73 from 0.6. I think lenders will do well in the near term and there are still legs to this story. It will reach Roa of 1.0 before it starts reversing. Largest holding and from lower levels.
A shoutout to @Worldlywiseinvestors for aptly teaching valuation frameworks for financials. Although he wouldn’t invest in public sector himself, I have learnt a lot from SOIC