*Union Bank of India Ltd.* | *CMP* Rs. 39 | *M Cap* Rs. 26485 Cr | *52 W H/L* 45/23
(Nirmal Bang Retail Research)
*Result is ok*
Net Interest Income came at Rs. 7013 Cr vs YoY Rs. 6403 Cr, QoQ Rs. 5403 Cr
Non Interest Income came at Rs. 2901 Cr vs YoY Rs. 1462 Cr, QoQ Rs. 4551 Cr
PBP came at Rs. 5303 Cr vs YoY Rs. 4034 Cr, QoQ Rs. 5180 Cr
Provisions came at Rs. 3524 Cr vs YoY Rs. 3556 Cr, QoQ Rs. 3904 Cr
Adj. PAT came at Rs. 1181 Cr vs YoY Rs. 333 Cr, QoQ Rs. 1330 Cr
Gross NPA came at Rs. 87762 Cr vs QoQ Rs. 89788 Cr at 13.6% vs QoQ 13.74%
Net NPA came at Rs. 27438 Cr vs QoQ Rs. 27281 Cr at 4.69% vs QoQ 4.62%
Slippages were at Rs. 7,049 Cr (4.8%) against FY21 figure of Rs. 17,442 Cr (3.0%). 45% of slippages in Q1 were from MSMEs.
SMA 2 has increased to 1.71% vs QoQ 0.60%. Restructured book stands at 2.4%. Thus total of SMA 2 + Restructured book comes to 4.1%.
Quarter EPS is Rs. 1.7
Share is trading at P/E of 4.7x FY23E EPS & 0.7x trailing P/Adj. BV
(Nirmal Bang Retail Research)
*Result is ok*
Net Interest Income came at Rs. 7013 Cr vs YoY Rs. 6403 Cr, QoQ Rs. 5403 Cr
Non Interest Income came at Rs. 2901 Cr vs YoY Rs. 1462 Cr, QoQ Rs. 4551 Cr
PBP came at Rs. 5303 Cr vs YoY Rs. 4034 Cr, QoQ Rs. 5180 Cr
Provisions came at Rs. 3524 Cr vs YoY Rs. 3556 Cr, QoQ Rs. 3904 Cr
Adj. PAT came at Rs. 1181 Cr vs YoY Rs. 333 Cr, QoQ Rs. 1330 Cr
Gross NPA came at Rs. 87762 Cr vs QoQ Rs. 89788 Cr at 13.6% vs QoQ 13.74%
Net NPA came at Rs. 27438 Cr vs QoQ Rs. 27281 Cr at 4.69% vs QoQ 4.62%
Slippages were at Rs. 7,049 Cr (4.8%) against FY21 figure of Rs. 17,442 Cr (3.0%). 45% of slippages in Q1 were from MSMEs.
SMA 2 has increased to 1.71% vs QoQ 0.60%. Restructured book stands at 2.4%. Thus total of SMA 2 + Restructured book comes to 4.1%.
Quarter EPS is Rs. 1.7
Share is trading at P/E of 4.7x FY23E EPS & 0.7x trailing P/Adj. BV