IDFC Ltd(Merged)

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IDFC Ltd(Merged)

₹ 108 -1.83%
09 Oct 2024
idfc.com NSE: IDFC
About

IDFC Limited was incorporated in 1997. It is a Non-Banking Finance Company (NBFC) regulated by the Reserve Bank of India. It continues to hold investments in IDFC FIRST Bank and IDFC AMC. It held 39.98% in IDFC FIRST Bank and 99.96% in IDFC AMC. IDFC’s holding in IDFC FIRST Bank has further reduced to 36.60% post the QIP issue done by the Bank in April 2021. [1] [2]

Key Points

History
It was operating as an Infrastructure Finance Company, i.e. financing infrastructure projects in sectors like energy, telecommunication, commercial and industrial projects, etc. upto 2015. The Company had received in-principle approval from the RBI to set up a new private sector bank in 2014. Since 2015 the company has been operating as NBFC - Investment Company.
IDFC and IDFC First Bank are two listed entities of IDFC Group and the rest of the businesses are conducted through unlisted entities. [1] [2]

Website NSE
  • Market Cap ₹ 17,275 Cr.
  • Current Price ₹ 108
  • High / Low ₹ /
  • Stock P/E 1,221
  • Book Value ₹ 59.6
  • Dividend Yield 0.93 %
  • ROCE 0.33 %
  • ROE 0.27 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7.45% over last 3 years.
  • Working capital days have increased from 514 days to 1,502 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Finance Holding Company

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
0.95 16.88 54.35 2.30 191.57 48.86 29.15 1,797.29 22.83 33.17 -11.71 5.73 7.65
3.89 4.55 8.87 5.28 3.26 2.39 4.08 12.30 7.29 3.92 4.76 2.18 7.35
Operating Profit -2.94 12.33 45.48 -2.98 188.31 46.47 25.07 1,784.99 15.54 29.25 -16.47 3.55 0.30
OPM % -309.47% 73.05% 83.68% -129.57% 98.30% 95.11% 86.00% 99.32% 68.07% 88.18% 61.95% 3.92%
0.00 0.49 0.00 2.64 0.00 9.08 -0.02 0.07 0.00 0.00 0.00 0.00 0.00
Interest 0.84 0.94 0.00 0.00 0.00 0.00 0.00 0.50 0.04 0.97 0.32 0.20 0.08
Depreciation 0.03 0.02 0.03 0.02 0.03 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01
Profit before tax -3.81 11.86 45.45 -0.36 188.28 55.53 25.03 1,784.55 15.49 28.27 -16.80 3.34 0.21
Tax % 5.25% 32.12% 29.02% -836.11% 3.80% 19.76% 10.75% 0.19% 24.21% 23.42% -36.19% 13.47% -57.14%
-4.01 8.05 32.26 2.65 181.12 44.56 22.34 1,781.09 11.74 21.65 -10.72 2.89 0.33
EPS in Rs -0.03 0.05 0.20 0.02 1.13 0.28 0.14 11.13 0.07 0.14 -0.07 0.02 0.00
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
7,774 8,220 100 226 159 223 158 153 8 92 2,076 50 35
616 842 32 1,361 72 30 56 73 17 23 22 18 18
Operating Profit 7,159 7,377 68 -1,135 87 193 102 80 -9 69 2,054 32 17
OPM % 92% 90% 68% -502% 55% 87% 65% 52% -116% 75% 99% 64% 48%
2 12 1,618 0 0 20 11 12 19 3 0 0 0
Interest 4,665 5,007 0 0 3 0 0 1 3 0 0 2 2
Depreciation 27 24 -32 5 5 5 5 14 2 0 0 0 0
Profit before tax 2,468 2,358 1,718 -1,140 79 207 108 77 6 72 2,053 30 15
Tax % 28% 28% 2% 2% 29% 11% -18% 17% -61% 25% 1% 16%
1,765 1,701 1,685 -1,162 56 184 128 64 9 54 2,029 26 14
EPS in Rs 11.65 11.22 10.58 -7.29 0.35 1.15 0.80 0.40 0.06 0.34 12.68 0.16 0.09
Dividend Payout % 22% 23% 25% 0% 72% 65% 0% 784% 0% 296% 95% 0%
Compounded Sales Growth
10 Years: -40%
5 Years: -21%
3 Years: 86%
TTM: -98%
Compounded Profit Growth
10 Years: -34%
5 Years: -28%
3 Years: 8%
TTM: -99%
Stock Price CAGR
10 Years: 6%
5 Years: 15%
3 Years: -5%
1 Year: %
Return on Equity
10 Years: 3%
5 Years: 5%
3 Years: 7%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 1,515 1,516 1,593 1,594 1,596 1,596 1,596 1,596 1,596 1,596 1,600 1,600
Reserves 11,943 13,193 15,339 8,000 8,054 8,164 8,182 7,659 7,665 7,795 7,919 7,944
53,630 55,672 66,252 0 200 0 0 38 35 0 0 0
2,907 3,384 3,337 25 28 63 42 39 7 25 52 54
Total Liabilities 69,994 73,764 86,520 9,620 9,878 9,823 9,821 9,332 9,304 9,416 9,571 9,598
292 278 359 66 62 57 52 38 0 0 0 0
CWIP 0 1 14 0 0 0 0 0 0 0 0 0
Investments 11,272 11,199 30,487 9,229 9,383 9,733 9,722 9,286 9,295 9,329 9,377 9,369
58,430 62,287 55,660 325 433 34 46 8 8 87 194 229
Total Assets 69,994 73,764 86,520 9,620 9,878 9,823 9,821 9,332 9,304 9,416 9,571 9,598

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-5,532 -1,604 7,276 9,513 114 114 113 107 -7 -16 1,846 -173
-1,432 553 -18,269 543 -162 -252 5 441 13 -16 95 61
7,004 1,146 10,936 -9,970 200 -238 -120 -548 -5 75 -1,901 5
Net Cash Flow 40 95 -57 86 152 -376 -1 0 1 43 40 -106
Free Cash Flow -5,537 -1,605 7,244 9,513 113 114 113 107 11 -16 1,846 -173
CFO/OP -66% -22% 10,780% -840% 156% 73% 128% 133% 45% -16% 93% -75%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 2 29 96 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 2 29 96 0 0 0 0 0 0 0 0 0
Working Capital Days -496 -365 -71,072 135 -428 -52 24 -62 -118 28 12 1,502
ROCE % 11% 11% 2% -2% 1% 2% 1% 1% 0% 1% 22% 0%

Insights

In beta
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
IDFC FIRST Bank Total Funded Assets
INR Crore

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IDFC AMC Quarterly Average AUM (QAAUM)
INR Crore
IDFC FIRST Bank CASA Ratio
%
IDFC FIRST Bank Number of Branches
Number
IDFC FIRST Bank Retail Funded Assets
INR Crore
IDFC AMC Market Share
%

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Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
24.27% 23.31% 21.34% 20.58% 21.22% 21.45% 20.42% 21.75% 20.03% 19.54% 20.99% 20.82%
6.19% 7.08% 11.84% 12.49% 16.86% 17.38% 20.48% 20.67% 15.64% 14.77% 13.68% 14.57%
16.37% 16.37% 16.37% 16.37% 16.48% 16.46% 16.45% 16.45% 16.45% 16.45% 16.45% 16.45%
53.17% 53.24% 50.45% 50.55% 45.44% 44.72% 42.65% 41.13% 47.86% 49.23% 48.87% 48.15%
No. of Shareholders 4,42,4104,56,8374,44,3854,56,4084,34,8814,40,1694,61,9684,52,8425,80,4056,40,5536,73,9156,78,676

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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