Ind Bank Housing Ltd

Ind Bank Housing Ltd

₹ 48.2 -1.65%
21 Feb 4:01 p.m.
About

Incorporated in 1991, Ind Bank Housing Ltd
is in the business of providing Housing Loans[1]

Key Points

Operational Status:[1][2][3]
Company has suspended making fresh
lending since 2000 and is in the process
of recovery of Non-Performing Assets from its borrowers and other loans which
are under litigation.

In view of accumulated financial loss, the compliances with the Capital Adequacy, Net Owned Funds, and other related requirements under The National Housing Bank Act, including Housing Finance Companies (NHB) Directions, could not be complied with. Company was given time till June 30, 2022, for attaining a minimum NOF of ~Rs.10 Crore and also for fulfilling Principal Business Criteria (PBC) for housing finance companies. Further, in July 2022, company sent a letter with a copy of the proposed revival plan to RBI and requested a personal hearing.

At present, company is making continuous
efforts to recover the non-performing
assets as was done in the previous financial years. In FY22, company recovered~Rs.3.25 lakhs from individual housing loans and ICD loan vs Rs. 6.00 lakhs in FY21

  • Market Cap 48.2 Cr.
  • Current Price 48.2
  • High / Low 50.4 / 23.1
  • Stock P/E
  • Book Value -120
  • Dividend Yield 0.00 %
  • ROCE -5.96 %
  • ROE %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -35.8% over past five years.
  • Working capital days have increased from 4,695 days to 6,586 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance - Housing

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.12 0.18 0.12 0.07 0.08 0.09 0.14 0.10 0.09 0.46 0.14 0.55 0.17
Operating Profit -0.09 -0.18 -0.12 -0.07 -0.08 -0.09 -0.14 -0.10 -0.09 -0.46 -0.14 -0.55 -0.17
OPM % -300.00%
0.07 0.07 0.06 0.07 0.05 0.05 0.05 0.05 0.08 0.06 0.08 0.07 0.08
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax -0.02 -0.11 -0.06 0.00 -0.03 -0.04 -0.09 -0.05 -0.01 -0.40 -0.06 -0.48 -0.09
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
-0.02 -0.11 -0.06 0.00 -0.03 -0.04 -0.09 -0.05 -0.01 -0.40 -0.06 -0.48 -0.09
EPS in Rs -0.02 -0.11 -0.06 0.00 -0.03 -0.04 -0.09 -0.05 -0.01 -0.40 -0.06 -0.48 -0.09
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
0.38 0.24 0.46 2.37 0.72 1.05 2.11 0.57 0.50 0.36 0.23 0.23 0.00
0.53 0.35 0.15 -4.62 0.38 0.35 0.25 0.53 0.85 0.55 0.39 0.79 1.32
Operating Profit -0.15 -0.11 0.31 6.99 0.34 0.70 1.86 0.04 -0.35 -0.19 -0.16 -0.56 -1.32
OPM % -39.47% -45.83% 67.39% 294.94% 47.22% 66.67% 88.15% 7.02% -70.00% -52.78% -69.57% -243.48%
-4.48 0.00 0.03 0.73 0.04 1.22 0.05 0.10 3.10 0.00 0.03 0.00 0.29
Interest 7.84 8.61 9.57 14.87 11.87 13.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00
Profit before tax -12.48 -8.73 -9.24 -7.16 -11.50 -11.24 1.91 0.13 2.75 -0.19 -0.13 -0.56 -1.03
Tax % 0.00% 2.06% 0.00% -2.65% 0.00% 0.00% 6.81% 0.00% 0.00% 0.00% 0.00% 0.00%
-12.48 -8.55 -9.24 -7.35 -11.50 -11.24 1.78 0.13 2.74 -0.19 -0.13 -0.56 -1.03
EPS in Rs -12.48 -8.55 -9.24 -7.35 -11.50 -11.24 1.78 0.13 2.74 -0.19 -0.13 -0.56 -1.03
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 0%
5 Years: -36%
3 Years: -23%
TTM: 0%
Compounded Profit Growth
10 Years: 7%
5 Years: %
3 Years: %
TTM: -442%
Stock Price CAGR
10 Years: 23%
5 Years: 11%
3 Years: 7%
1 Year: 85%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
Reserves -85.79 -94.33 -103.58 -110.93 -122.42 -133.66 -131.88 -131.75 -129.00 -129.19 -129.32 -129.88 -130.42
76.63 84.99 94.56 105.13 117.00 129.85 129.00 129.00 129.00 129.00 129.00 129.00 129.00
4.50 6.78 7.47 6.18 6.07 6.15 4.07 3.86 0.77 0.72 0.60 1.14 0.60
Total Liabilities 5.34 7.44 8.45 10.38 10.65 12.34 11.19 11.11 10.77 10.53 10.28 10.26 9.18
0.05 0.03 0.03 0.02 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.09 0.08 0.03 0.04 0.03 0.05 0.02 0.01 0.01 0.01 0.01 0.01 0.01
5.20 7.33 8.39 10.32 10.61 12.29 11.16 11.10 10.76 10.52 10.27 10.25 9.17
Total Assets 5.34 7.44 8.45 10.38 10.65 12.34 11.19 11.11 10.77 10.53 10.28 10.26 9.18

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2.17 0.79 1.29 0.64 0.61 -11.25 -0.48 -0.18 -0.46 -0.23 -0.29 -0.11
0.64 0.55 0.05 0.00 0.00 0.04 0.03 0.00 0.01 0.00 0.00 0.00
-0.25 0.00 0.00 -0.14 0.00 12.85 -0.85 0.00 0.00 0.00 0.00 0.00
Net Cash Flow 2.56 1.34 1.34 0.50 0.61 1.64 -1.30 -0.19 -0.45 -0.23 -0.29 -0.11

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Days
Days Payable
Cash Conversion Cycle 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Working Capital Days -1,085.39 -5,201.25 -3,356.41 -454.32 -1,490.42 -45.19 -6.92 51.23 102.20 182.50 7,315.87 6,585.87
ROCE % -4.09% -16.00% 40.24% 297.68% 8.43% 35.65% 28.70% 1.81% 31.88% -1.92% -1.33% -5.96%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00%
25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 24.00% 23.99% 24.00% 24.01% 24.00% 24.00%
No. of Shareholders 11,59011,54111,49411,49011,49211,45511,44411,55211,52511,42411,51511,551

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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