Indiabulls Housing Finance Ltd

Indiabulls Housing Finance Ltd. (IBHFL) is the second largest private housing finance company in India and is regulated by the National Housing Bank (NHB).

Pros:
Company has reduced debt.
Stock is providing a good dividend yield of 5.15%.
Company has good consistent profit growth of 25.05% over 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 27.71%
Company has been maintaining a healthy dividend payout of 55.23%
Cons:
Company has low interest coverage ratio.
Promoter's stake has decreased
Promoter holding is low: 21.53%

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
Revenue 2,372 2,510 2,586 2,931 3,016 3,156 3,420 4,001 3,890 3,980 4,483 4,210
Interest 1,411 1,628 1,633 1,739 1,841 1,911 2,074 2,145 2,335 2,556 2,457 2,374
307 321 360 509 378 425 608 623 325 301 632 396
Financing Profit 655 561 593 683 798 819 738 1,233 1,230 1,123 1,394 1,439
Financing Margin % 28% 22% 23% 23% 26% 26% 22% 31% 32% 28% 31% 34%
Other Income 225 365 419 293 272 297 759 -0 181 275 5 0
Depreciation 5 5 6 7 7 8 8 14 8 11 11 12
Profit before tax 875 921 1,006 970 1,062 1,108 1,489 1,219 1,402 1,387 1,388 1,427
Tax % 27% 26% 25% 14% 24% 23% 23% 12% 25% 25% 30% 30%
Net Profit 630 684 751 841 809 861 1,142 1,082 1,055 1,044 986 1,006
Gross NPA % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net NPA % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
Revenue 4,730 5,890 7,243 9,221 11,628 14,632 16,563
Interest 2,599 3,282 3,944 4,971 6,411 7,654 9,723
514 632 816 1,105 1,485 1,973 1,655
Financing Profit 1,616 1,976 2,482 3,145 3,733 5,006 5,185
Financing Margin % 34% 34% 34% 34% 32% 34% 31%
Other Income 48 14 9 4 62 7 462
Depreciation 9 8 19 20 23 37 43
Profit before tax 1,655 1,982 2,473 3,129 3,772 4,976 5,604
Tax % 24% 21% 23% 25% 23% 23%
Net Profit 1,258 1,564 1,901 2,345 2,906 3,847 4,091
EPS in Rs 41.91 48.85 47.04 63.08 81.88
Dividend Payout % 50% 62% 50% 81% 39% 45%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:25.34%
3 Years:26.41%
TTM:21.86%
Compounded Profit Growth
10 Years:%
5 Years:25.05%
3 Years:26.49%
TTM:5.01%
Return on Equity
10 Years:%
5 Years:28.30%
3 Years:27.71%
Last Year:30.13%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
62 67 71 84 85 85 85
Reserves 5,006 5,639 6,561 10,610 12,037 13,338 16,397
Borrowings 31,286 35,540 47,487 61,085 85,301 110,257 51,687
2,788 3,242 3,346 4,260 6,722 8,848 61,935
Total Liabilities 39,141 44,487 57,465 76,039 104,145 132,529 130,104
58 115 123 136 169 169 156
CWIP 0 0 0 0 0 0 0
Investments 2,308 2,947 6,164 10,693 13,617 14,871 19,717
36,776 41,424 51,179 65,211 90,360 117,489 110,231
Total Assets 39,141 44,487 57,465 76,039 104,145 132,529 130,104

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-3,609 -2,452 -8,892 -11,643 -17,845 -23,954
5,052 -635 -2,093 -4,997 -2,107 473
5,227 3,090 10,699 15,330 22,591 22,599
Net Cash Flow 6,671 3 -286 -1,310 2,638 -883

Ratios Consolidated / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROE % 29% 31% 27% 25% 30%

Credit Ratings