Housing Development Finance Corporation Ltd

About [ edit ]

HDFC in the business of Across Banking , Insurance , Asset and Other Financial Services.

  • Market Cap 452,723 Cr.
  • Current Price 2,510
  • High / Low 2,896 / 1,473
  • Stock P/E 25.9
  • Book Value 798
  • Dividend Yield 0.84 %
  • ROCE 11.1 %
  • ROE 18.0 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 19.59% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.41%

Cons

  • Stock is trading at 3.14 times its book value
  • Company has low interest coverage ratio.
  • Tax rate seems low

Peer comparison

Sector: Finance Industry: Finance - Housing

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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
Revenue 21,243 19,655 22,908 24,587 28,747 23,182 32,824 29,072 16,600 29,954 34,083 39,259
Interest 6,023 6,699 7,427 7,745 7,663 8,203 8,221 7,885 7,800 7,942 7,518 6,954
10,817 9,587 11,964 13,154 17,116 11,683 13,715 18,171 5,414 18,715 22,219 27,172
Financing Profit 4,402 3,369 3,518 3,688 3,968 3,296 10,888 3,016 3,386 3,296 4,346 5,133
Financing Margin % 21% 17% 15% 15% 14% 14% 33% 10% 20% 11% 13% 13%
Other Income 12 1,020 3,828 679 2,160 1,333 1,228 1,653 1,650 1,607 1,650 1,769
Depreciation 19 31 32 46 22 50 54 68 84 86 89 91
Profit before tax 4,396 4,359 7,314 4,321 6,106 4,579 12,062 4,601 4,951 4,816 5,906 6,811
Tax % 23% 24% 17% 22% 21% 23% 11% 9% 12% 16% 15% 16%
Net Profit 3,961 2,942 5,759 3,038 4,492 3,094 10,389 3,835 4,115 3,614 4,600 5,177
EPS in Rs 23.64 17.48 33.95 17.67 26.09 17.94 60.16 22.18 23.76 20.83 25.61 28.76
Gross NPA %
Net NPA %
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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
Revenue 11,676 25,413 25,765 30,276 35,948 40,753 48,316 53,223 61,034 79,474 95,694 101,726 119,896
Interest 7,647 7,289 7,876 11,552 14,296 16,608 18,710 20,296 21,953 24,718 29,525 32,109 30,216
1,160 14,188 12,623 12,484 14,170 15,314 19,516 21,228 26,377 44,714 51,819 48,983 73,520
Financing Profit 2,869 3,937 5,266 6,240 7,483 8,831 10,089 11,699 12,704 10,042 14,349 20,633 16,160
Financing Margin % 25% 15% 20% 21% 21% 22% 21% 22% 21% 13% 15% 20% 13%
Other Income 30 38 28 27 39 61 74 34 53 6,282 7,891 5,816 6,675
Depreciation 37 91 49 51 54 47 47 121 108 116 141 256 351
Profit before tax 2,863 3,884 5,244 6,217 7,467 8,846 10,117 11,613 12,650 16,207 22,099 26,193 22,484
Tax % 37% 32% 29% 28% 27% 27% 31% 31% 32% 19% 20% 13%
Net Profit 2,310 3,241 4,528 5,463 6,640 7,948 8,763 10,190 11,051 11,980 16,232 21,435 17,505
EPS in Rs 16.24 22.58 30.87 36.98 42.94 50.93 55.65 64.50 69.56 71.48 94.29 123.75 98.96
Dividend Payout % 37% 32% 29% 30% 29% 27% 27% 26% 26% 28% 22% 17%
Compounded Sales Growth
10 Years:15%
5 Years:16%
3 Years:19%
TTM:5%
Compounded Profit Growth
10 Years:21%
5 Years:20%
3 Years:25%
TTM:-20%
Stock Price CAGR
10 Years:14%
5 Years:17%
3 Years:11%
1 Year:19%
Return on Equity
10 Years:19%
5 Years:18%
3 Years:17%
Last Year:18%

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
284 287 293 295 309 312 315 316 318 335 344 346 359
Reserves 14,670 17,895 20,897 23,921 31,581 37,263 44,757 50,534 59,690 91,488 111,389 126,133 143,609
Borrowings 85,941 98,463 118,056 142,479 163,663 190,602 217,357 249,418 293,795 336,416 386,755 425,368 426,906
16,296 27,280 36,009 45,641 56,225 68,712 87,078 97,519 120,319 138,320 162,321 177,936 203,573
Total Liabilities 117,191 143,926 175,255 212,336 251,778 296,889 349,507 397,786 474,122 566,560 660,810 729,782 774,447
677 613 808 842 851 1,002 1,470 1,568 2,266 2,349 2,310 5,476 5,509
CWIP -0 -0 3 7 32 21 9 19 54 23 24 59 15
Investments 21,003 32,743 41,597 48,639 59,492 72,914 93,782 104,721 132,855 172,218 210,704 243,248 98,794
95,510 110,570 132,848 162,849 191,403 222,951 254,245 291,478 338,947 391,969 447,771 481,000 670,130
Total Assets 117,191 143,926 175,255 212,336 251,778 296,889 349,507 397,786 474,122 566,560 660,810 729,782 774,447

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
-7,493 677 -11,402 -17,534 -11,969 -10,735 -9,118 -19,710 -14,173 -57,928 -44,301 -26,885
-4,585 -10,616 -7,857 -6,275 -10,212 -12,983 -18,552 -9,309 -27,236 -7,954 -10,316 -9,874
13,388 13,011 19,801 23,194 23,174 25,719 24,820 29,111 43,127 63,344 54,986 38,774
Net Cash Flow 1,311 3,071 542 -615 992 2,000 -2,850 92 1,718 -2,538 369 2,015

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
ROE % 17% 20% 23% 24% 24% 23% 21% 21% 20% 16% 16% 18%

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
73.97 72.89 72.19 72.20 72.44 74.69 72.52 72.75 70.88 70.17 70.00 71.95
12.63 16.01 16.45 16.87 16.46 14.63 16.47 16.47 17.84 18.29 18.45 17.12
0.18 0.18 0.19 0.19 0.21 0.13 0.15 0.18 0.20 0.22 0.22 0.22
13.22 10.92 11.17 10.74 10.89 10.55 10.87 10.60 11.08 11.32 11.33 10.72

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