Can Fin Homes Ltd - 511196

Name of Company	Can Fin Homes Ltd
BSE Code	511196
NSE Code	CANFINHOME
ICICI Code
Established
My Take	So-So
Headquarters	Bangalore
Promoters	Canara Bank
Story	200 Cr market cap for a 40 Cr FY10 profit. Which makes the PE around 5 times. Promoter holds 42% of the shares. Can buy when price is 45-50 – that would mean about 4-5% dividend yield.
Sector	NBFC
Sub-sector	Housing finance
Website	http://www.canfinhomes.com/
Positives	Very good NPM's – around 15% is average. 250 Cr reserves for a 213 Cr FY10 revenue is really good. The website focuses on prospective customers and has no information for investors – this could mean, there is no manipulation by the promoters. Can expect a regular dividend yield of 2-2.5% at current prices. Not a very volatile stock – the 52 week price ends are between 75 and 102.
Negatives	1600 Cr debt (for a FY10 revenue of 213 Cr) seems huge. Cannot see a huge increase in revenues for the last 5 years. Going forward also, we cannot expect a great increase in revenue as no ad campaign or offers are visible.
Peers	HDFC, Dewan, LIC Housing, GIC Housing, Gruh
News
Price @ blogged	95.50 (26-Jun-10)