Housing Development Finance Corporation Ltd

HDFC is providing finance to individuals, corporates and developers for the purchase, construction, development and repair of houses, apartments and commercial properties in India.(Source : 201903 Annual Report Page No: 241)

  • Market Cap: 296,667 Cr.
  • Current Price: 1,652
  • 52 weeks High / Low 2499.90 / 1473.10
  • Book Value: 704.30
  • Stock P/E: 12.71
  • Dividend Yield: 1.27 %
  • ROCE: 11.10 %
  • ROE: 19.16 %
  • Sales Growth (3Yrs): 18.56 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 2.00
Edit ratios
Pros:
Company has been maintaining a healthy dividend payout of 22.41%
Cons:
Company has low interest coverage ratio.
Tax rate seems low
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer comparison Sector: Finance // Industry: Finance - Housing

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
Revenue 16,577 16,841 21,243 19,655 22,908 24,587 28,747 23,182 32,796 29,072 16,600 29,954
Interest 5,834 5,851 6,023 6,699 7,427 7,745 7,663 8,203 8,217 7,885 7,800 7,942
7,558 7,523 10,817 9,587 11,964 13,154 17,116 11,683 13,704 18,171 5,414 18,715
Financing Profit 3,185 3,467 4,402 3,369 3,518 3,688 3,968 3,296 10,875 3,016 3,386 3,296
Financing Margin % 19% 21% 21% 17% 15% 15% 14% 14% 33% 10% 20% 11%
Other Income 6 3,454 12 1,020 3,828 679 2,160 1,333 1,255 1,653 1,650 1,607
Depreciation 23 19 19 31 32 46 22 50 68 68 84 86
Profit before tax 3,169 6,902 4,396 4,359 7,314 4,321 6,106 4,579 12,062 4,601 4,951 4,816
Tax % 30% 15% 23% 24% 17% 22% 21% 23% 11% 9% 12% 16%
Net Profit 2,869 6,682 3,961 2,942 5,759 3,038 4,492 3,094 10,389 3,835 4,115 3,614
EPS in Rs 18.01 41.72 23.37 17.45 34.12 17.59 26.15 17.97 60.24 22.16 22.01 20.86
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 95,694 101,726 108,422
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 31,845
1,160 14,188 12,623 12,484 14,170 15,314 19,516 21,228 26,377 44,714 51,819 48,983 56,005
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 20,572
Financing Margin % 25% 15% 20% 21% 21% 22% 21% 22% 21% 13% 15% 20% 19%
Other Income 30 38 28 27 39 61 74 34 53 6,282 7,891 5,816 6,165
Depreciation 37 91 49 51 54 47 47 121 108 116 141 256 306
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 26,430
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 21,953
EPS in Rs 15.12 21.22 29.25 34.96 40.48 48.00 52.34 60.50 69.56 71.48 94.29 123.75 125.27
Dividend Payout % 37% 32% 29% 30% 29% 27% 27% 26% 26% 28% 22% 17%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:14.88%
5 Years:16.06%
3 Years:18.56%
TTM:9.05%
Compounded Profit Growth
10 Years:21.58%
5 Years:19.81%
3 Years:24.43%
TTM:30.96%
Stock Price CAGR
10 Years:8.86%
5 Years:7.10%
3 Years:-1.32%
1 Year:-18.86%
Return on Equity
10 Years:20.30%
5 Years:19.01%
3 Years:18.03%
Last Year:19.16%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
284 287 293 295 309 312 315 316 318 335 344 346
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
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
16,296 27,280 36,009 45,641 56,225 68,712 87,078 97,519 120,319 138,320 162,321 177,936
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
677 613 808 842 851 1,002 1,470 1,568 2,266 2,349 2,310 5,476
CWIP 0 0 3 7 32 21 9 19 54 23 24 59
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
95,510 110,570 132,848 162,849 191,403 222,951 254,245 291,478 338,947 391,969 447,771 481,000
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

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 % 16% 20% 23% 25% 25% 24% 22% 22% 21% 17% 17% 19%

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
75.99 74.76 73.97 72.89 72.19 72.20 72.44 74.69 72.52 72.75 70.88 70.17
12.88 13.94 12.63 16.01 16.45 16.87 16.46 14.63 16.47 16.47 17.84 18.29
0.10 0.10 0.18 0.18 0.19 0.19 0.21 0.13 0.15 0.18 0.20 0.22
11.03 11.20 13.22 10.92 11.17 10.74 10.89 10.55 10.87 10.60 11.08 11.32

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