Indiabulls Housing Finance Ltd

Indiabulls Housing Finance is engaged in business of a Housing Finance Institution without accepting public deposits and its regulated by National Housing Bank.(Source : 201903 Annual Report Page No: 65)

Pros:
Stock is trading at 1.10 times its book value
Stock is providing a good dividend yield of 9.04%.
Company has a good return on equity (ROE) track record: 3 Years ROE 23.63%
Company has been maintaining a healthy dividend payout of 47.00%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Promoter holding is low: 21.52%

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 2,397 2,515 2,812 2,853 3,006 3,173 3,991 3,777 3,613 4,051 3,708 3,293
Interest 1,607 1,611 1,711 1,787 1,861 1,996 2,029 2,201 2,378 2,276 2,200 2,118
295 298 434 337 396 578 865 290 245 416 246 344
Financing Profit 495 605 668 729 750 599 1,097 1,286 990 1,359 1,262 831
Financing Margin % 21% 24% 24% 26% 25% 19% 27% 34% 27% 34% 34% 25%
Other Income 363 413 289 263 293 214 12 12 269 5 2 3
Depreciation 5 5 6 6 7 7 7 8 9 10 10 26
Profit before tax 853 1,013 951 985 1,036 806 1,101 1,291 1,250 1,354 1,253 808
Tax % 25% 26% 14% 24% 22% 22% 9% 25% 25% 30% 30% 28%
Net Profit 641 753 822 750 804 632 1,000 968 933 953 875 579
EPS in Rs 15.20 17.80 19.39 17.68 18.94 14.85 23.44 22.69 21.88 22.32 20.48 13.55
Gross NPA % 0.00% 0.83% 0.85% 0.80% 0.78% 0.77% 0.77% 0.78% 0.77% 0.79% 0.88% 1.47%
Net NPA % 0.00% 0.35% 0.36% 0.31% 0.31% 0.31% 0.34% 0.59% 0.58% 0.59% 0.69% 1.10%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 183 179 326 786 4,658 5,685 7,131 8,839 11,241 13,745 15,407 14,665
Interest 73 81 135 381 2,604 3,232 3,844 4,842 6,315 7,711 9,057 8,973
81 72 87 62 489 557 744 927 1,290 2,093 1,196 1,251
Financing Profit 29 27 104 343 1,566 1,895 2,543 3,069 3,637 3,942 5,154 4,441
Financing Margin % 16% 15% 32% 44% 34% 33% 36% 35% 32% 29% 33% 30%
Other Income -0 -0 7 3 48 13 8 3 65 14 31 278
Depreciation 1 1 2 1 9 8 18 19 21 27 37 56
Profit before tax 28 25 109 345 1,604 1,901 2,533 3,053 3,681 3,928 5,148 4,664
Tax % 21% 28% 28% 28% 23% 21% 22% 25% 23% 19% 28%
Net Profit 22 18 79 250 1,228 1,510 1,978 2,294 2,842 3,185 3,729 3,340
EPS in Rs 45.20 55.64 54.45 67.06 74.68 87.25 78.23
Dividend Payout % 0% 0% 0% 0% 51% 64% 49% 83% 40% 55% 46%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:55.79%
5 Years:22.07%
3 Years:20.35%
TTM:5.15%
Compounded Profit Growth
10 Years:66.81%
5 Years:19.81%
3 Years:17.59%
TTM:-1.85%
Return on Equity
10 Years:26.11%
5 Years:25.15%
3 Years:23.63%
Last Year:22.73%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
135 135 156 156 62 67 71 84 85 85 85
Reserves 201 220 578 799 4,764 5,400 6,421 10,420 11,784 15,470 17,173
Borrowings 570 964 2,408 6,053 31,086 34,490 45,556 59,963 82,512 104,217 96,205
83 122 489 428 2,637 3,191 3,326 4,236 6,346 7,127 6,639
Total Liabilities 989 1,440 3,630 7,436 38,549 43,148 55,375 74,703 100,727 126,899 120,103
4 4 6 6 45 46 52 65 84 97 141
CWIP 0 0 0 0 0 0 0 0 0 0 0
Investments 58 373 131 43 2,494 3,491 6,731 11,248 14,165 17,927 25,926
927 1,063 3,493 7,387 36,010 39,610 48,592 63,390 86,478 108,875 94,036
Total Assets 989 1,440 3,630 7,436 38,549 43,148 55,375 74,703 100,727 126,899 120,103

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-109 0 -3,406 -2,978 -1,362 -8,459 -12,384 -16,307 -20,009 27,426
-0 -1 -91 4,657 -671 -2,092 -4,968 -2,146 510 -7,446
158 454 3,394 4,887 1,964 10,210 16,080 21,030 18,467 -10,506
Net Cash Flow 48 453 -103 6,565 -69 -341 -1,272 2,577 -1,032 9,474

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 5% 14% 30% 42% 29% 33% 27% 25% 23% 23%

Credit Ratings