Buy UGRO Capital; target of Rs 410: Emkay Global Financial
Mon, May 6, 2024 4:22 PM

Buy UGRO Capital; target of Rs 410: Emkay Global Financial

A Flip by Shubhangi Gupta
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Emkay Global Financial's research report on UGRO CapitalWith the recent capital raise of Rs13.3bn (Rs2.75bn of CCD and Rs10.58bn of Warrants) and acquisition of embedded lending Fintech (“MyShubhLife”), Ugro Capital is well capitalized and powered for the next leg of growth from Rs90bn to Rs200bn of AUM, with RoA improving to 4.3% from 2.3% over FY24-27E.

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