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Mazagon Dock 30X Returns – What’s Next?

Clients of Futurecaps enjoyed 30X multibagger gains in Mazagon Dock along with 12X in Cochin Shipyard. So, what’s the next multibagger? – Discover the next big stock idea.

Spotlight Pick – Can Fin Homes

Can Fin Homes is one of India’s reputed housing finance firms. It focuses on funding low & middle-income individuals and first-time homebuyers, preferably salaried professionals, while also extending services to builders, corporates, and others.

Its product portfolio includes: housing finance tailored to individuals, affordable homes, and PMAY-linked borrowers. It also extends services to businesses and individuals through varied loan types including site loans and top-up credit.

For individuals, Can Fin also caters through personal financing options, education loans, pensioner loans, along with accepting deposits.

The company operates in three key segments: Housing Finance, Non-housing Finance, and Deposits. The average loan ticket size is ?18L in housing, ?9L in non-housing finance. It also raises funds via deposits regulated by the National Housing Bank.

Headquartered in Bengaluru, Can Fin has a strong nationwide footprint covering 21 states with 205 branches and multiple specialized housing centers. Shri Suresh S Iyer is the current Managing Director & CEO.

Products & Services

• Housing Finance
• Non-Housing Finance
• Deposits

Positives

• 205 branches across 21 states stock market india and UTs, serving diverse geographies.
• Plans to expand network and penetrate new high-potential markets.
• Earnings CAGR of ~17.1% over the last 5 years.
• Intrinsic value estimated above 30%.
• Average borrowing cost at 6.5%, sustaining healthy spreads.
• Loan book crossed ?30,000 crore – strong business growth.
• 27% loan share from self-employed customers (?8,477 crore).
• Attractive valuation: P/E ~15X vs peer average ~24X.
• Better value than Indian diversified financial industry average (28.9X).
• Revenue forecasted at 14.7% growth vs Indian market 9.6%.
• Earnings growth forecast ~13.6%, higher than savings rate.

Challenges

• Intense competition from banks and larger HFCs in Tier I & II cities.
• Credit risk due to borrower defaults.
• Macroeconomic factors like inflation, demand-supply, and interest rates can cause liquidity and funding risks.

Futurecaps Valuation Metrics

• Economic Moat – Moderate
• Growth – Good
• Valuation – Good
• Debt – High
• Integrity – Moderate

Summary

The company shows strong fundamentals to generate 3–5X returns in the medium to long term. Full details are available in the complete article on our website.

Who We Are

Futurecaps is a SEBI-registered Research Analyst (INH200006956) serving Indian investors since 2012. We follow Warren Buffett’s value investing principles and have created 50+ multibaggers in the past. Our pricing is investor-friendly, helping new investors benefit.