DLF Ltd

About [ edit ]

DLF is primarily engaged in the business of colonisation and real estate development. The operations of the Company span all aspects of real estate development, from the identification and acquisition of land, to planning, execution, construction and marketing of projects.(Source : 201903 Annual Report Page No: 108)

  • Market Cap 63,851 Cr.
  • Current Price 258
  • High / Low 333 / 129
  • Stock P/E
  • Book Value 139
  • Dividend Yield 0.78 %
  • ROCE 3.75 %
  • ROE 0.54 %
  • Face Value 2.00

Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -4.48% over past five years.
  • Company has a low return on equity of 1.89% for last 3 years.
  • Company's cost of borrowing seems high

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,378 1,507 2,139 2,219 2,500 1,331 1,716 1,342 1,694 549 1,610 1,543
1,392 1,199 1,480 1,579 1,967 1,092 1,365 1,114 1,378 547 1,147 1,044
Operating Profit -14 309 659 640 534 240 350 228 317 2 463 499
OPM % -1% 20% 31% 29% 21% 18% 20% 17% 19% 0% 29% 32%
Other Income 664 150 166 187 288 506 368 422 -151 98 17 125
Interest 517 498 496 533 535 536 418 238 235 237 226 198
Depreciation 62 56 55 56 57 51 45 45 60 42 40 39
Profit before tax 71 -95 274 237 230 159 256 369 -130 -179 214 387
Tax % 47% 27% 51% 53% 16% 6% 29% 38% -1,470% 1% 47% 27%
Net Profit 248 173 375 335 437 415 446 414 -1,858 -71 232 451
EPS in Rs 1.39 0.97 2.10 1.88 1.98 1.68 1.80 1.67 -7.51 -0.29 0.94 1.82

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
10,035 7,423 9,561 9,576 7,773 8,298 7,649 9,926 8,221 6,707 8,366 6,083 5,396
4,445 3,926 5,808 5,693 5,184 6,323 4,635 5,960 4,845 6,179 6,225 4,948 4,115
Operating Profit 5,590 3,497 3,753 3,882 2,589 1,975 3,014 3,966 3,376 528 2,142 1,135 1,281
OPM % 56% 47% 39% 41% 33% 24% 39% 40% 41% 8% 26% 19% 24%
Other Income 403 428 584 594 1,323 1,651 503 506 1,206 11,572 791 1,146 90
Interest 555 1,110 1,706 2,246 2,314 2,463 2,304 2,680 2,980 2,951 2,062 1,427 897
Depreciation 239 326 631 689 796 663 545 766 572 534 225 200 181
Profit before tax 5,200 2,489 2,000 1,541 802 500 668 1,026 1,030 8,615 646 653 292
Tax % 13% 31% 23% 24% 17% -16% 24% 55% 22% 50% 43% 326%
Net Profit 4,470 1,720 1,542 1,201 712 646 540 306 715 4,464 1,319 -583 -1,245
EPS in Rs 26.33 10.13 9.09 7.07 4.19 3.63 3.03 1.72 4.01 25.02 5.98 -2.36 -5.04
Dividend Payout % 8% 20% 22% 28% 48% 55% 66% 117% 50% 8% 33% -85%
Compounded Sales Growth
10 Years:-2%
5 Years:-4%
3 Years:-10%
TTM:-22%
Compounded Profit Growth
10 Years:-20%
5 Years:-20%
3 Years:-37%
TTM:-265%
Stock Price CAGR
10 Years:1%
5 Years:15%
3 Years:5%
1 Year:98%
Return on Equity
10 Years:3%
5 Years:2%
3 Years:2%
Last Year:1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
1,735 6,259 2,150 2,139 2,139 2,155 356 357 357 357 441 495 495
Reserves 22,418 24,173 24,182 25,097 25,389 27,039 27,013 23,712 24,216 34,204 32,385 33,952 33,916
Borrowings 16,320 21,677 23,991 25,066 24,801 22,334 24,495 25,264 29,202 17,491 17,222 8,103 5,759
9,854 15,576 12,305 12,887 14,117 14,796 14,398 12,396 10,179 8,533 16,434 13,341 15,258
Total Liabilities 48,932 61,766 60,818 63,389 64,647 64,525 66,262 61,729 63,954 60,585 66,483 55,890 55,428
10,177 17,826 19,256 20,339 19,849 18,835 19,619 3,943 24,640 8,082 6,322 5,187 5,062
CWIP 5,688 11,129 10,234 8,993 7,834 5,979 5,901 1,779 153 137 103 89 93
Investments 1,402 5,505 996 1,127 1,334 891 623 21,310 1,209 20,832 21,005 18,566 19,023
31,664 27,306 30,331 32,931 35,630 38,820 40,119 34,697 37,952 31,533 39,053 32,049 31,251
Total Assets 48,932 61,766 60,818 63,389 64,647 64,525 66,262 61,729 63,954 60,585 66,483 55,890 55,428

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
174 8,624 2,776 2,520 2,009 1,468 2,037 2,957 -898 270 2,043 325
-3,590 -16,302 3,834 -24 1,995 3,924 98 -818 872 -2,102 3 6,508
2,443 7,417 -6,403 -2,438 -3,951 -4,532 -1,547 -1,929 787 -232 875 -9,491
Net Cash Flow -972 -261 206 58 52 860 588 210 761 -2,064 2,921 -2,658

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 8% 7% 7% 4% 5% 6% 8% 7% 5% 5% 4%
Debtor Days 79 80 60 67 78 69 76 126 63 70 36 43
Inventory Turnover 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.00 0.00

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.95 74.94 74.95 71.91 74.95 74.95 74.95 74.95 74.95 74.95 74.95 74.95
16.69 16.71 16.77 21.27 16.93 16.61 18.40 18.33 18.54 18.33 18.28 17.39
1.63 1.36 1.29 1.16 2.20 2.83 1.68 1.76 1.76 1.67 1.80 2.21
6.73 6.99 7.00 5.66 5.92 5.61 4.97 4.96 4.75 5.06 4.97 5.45

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