Strong Q4 numbers keep analysts bullish on Aptus Value Housing; stock up 4%

Solid fourth-quarter earnings for FY26, along with upbeat FY27 growth guidance, reinforced brokerages’ bullish stance on Aptus Value Housing Finance after the non-banking financial company (NBFC) reported its results for the quarter and year ended March 31, 2026. Following the announcement, the stock rose 3.87 per cent to ₹285.70 apiece during intra-day trade on Friday.

 

In Q4FY26, net profit increased 26 per cent year-on-year (Y-o-Y) to ₹261 crore, compared with ₹207 crore in the corresponding period last year. Total income rose 19 per cent Y-o-Y to ₹594 crore from ₹499 crore in Q4FY25. Disbursements for the quarter stood at ₹1,242 crore, up 17 per cent Y-o-Y from ₹1,064 crore. Alongside the earnings, the board declared a second interim dividend of ₹2.50 per equity share (125 per cent) on a face value of ₹2 each for FY26.

 

Management guides for healthy FY27 growth

Commenting on the results, P. Balaji, managing director, said, “Q4FY26 saw a further strengthening of our growth momentum, aided by technology enhancements and ongoing process improvements, alongside continued focus on credit quality.”

 

Looking ahead, he said the company remains confident of delivering 22–24 per cent AUM growth in FY27, supported by expansion in Maharashtra and Odisha, deeper penetration in existing markets, channel augmentation, higher average ticket sizes, calibrated lending rates on incremental loans, and improved productivity.

 

Amid this, the counter continued to trade higher on the bourses. At last check, the stock was trading at ₹284 apiece, up 3.25 per cent from its previous close of ₹275.05. 

Centrum sees over 70% upside

The favourable results attracted bullish commentary from brokerages including Centrum Broking and Antique Stock Broking, both of which retained their ‘Buy’ calls on the stock.

 

Analysts at Centrum Broking remain upbeat on the company’s strong capital position, healthy asset quality, high return ratios, and expectation of around 17 per cent earnings CAGR over FY26-28. The brokerage has set a target price of ₹486 by valuing the company at 3.5x FY28E P/BV. The assigned target price implies an upside of 70.55 per cent from the current market price.

 

“Aptus’s exceptionally strong capital position (CRAR 70 per cent) ensures that growth over the next 3–5 years will be entirely self-funded, without any dilution. Moreover, its consistent earnings delivery is supported by structural cost advantages, pristine asset quality (negligible LGDs), and one of the highest RoAs (7.9 per cent) in the sector,” wrote Tanay Jain, and Anushreay Satish Karipapoil, analysts at Centrum, in a research report.

 

They further said these factors together drive around 17 per cent earnings CAGR for FY26-28 with over 20 per cent RoE, underscoring the characteristics of a long-term compounding franchise.  Check here: Top Losers Today  | Top Gainers Today | Nifty 50 

Antique reiterates ‘Buy’ on growth prospects

Meanwhile, analysts at Antique Stock Broking reaffirmed their ‘Buy’ call citing strong AUM growth prospects, improving asset quality, and healthy return ratios, while revising the target price to ₹330. The assigned target price implies nearly 16 per cent upside from the current market price.

 

Mayank Mistry, and Sidhak Singh of Antique  expect healthy AUM growth of around 23 per cent CAGR over FY26-28E, supported by the addition of nearly 60 new branches in FY27, increasing adoption of digital and connector-led sourcing channels alongside in-house sourcing, and a gradual increase in ticket sizes across segments.

 

“We also expect asset quality to improve gradually over the medium term. The stock has rallied 38 per cent over last 1 month surpassing our earlier TP backed by improving asset quality metrics around small ticket MSMEs which had led to significant correction. Though we see marginal decline in NIMs over the medium term, we believe that the current valuation of (2x FY28E P/B) have significant upside to offer in return for 7 per cent+ RoA and 20 per cent RoEs over FY27-28E,” wrote the Antique analysts in their research report.    ============================== 

(Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.)