IDFC Ltd

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IDFC Ltd

₹ 124 -0.60%
24 Apr - close price
idfc.com BSE: 532659 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 BSE NSE
  • Market Cap ₹ 19,872 Cr.
  • Current Price ₹ 124
  • High / Low ₹ 137 / 82.1
  • Stock P/E 11.0
  • Book Value ₹ 59.7
  • Dividend Yield 0.00 %
  • ROCE 21.7 %
  • ROE 21.5 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 61.6% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 130%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 7.50% over last 3 years.

* 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

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
0 8 1 17 54 2 192 49 29 1,797 23 33 -12
5 2 4 5 9 5 3 2 4 12 7 4 5
Operating Profit -5 6 -3 12 45 -3 188 46 25 1,785 16 29 -16
OPM % -9,140% 74% -309% 73% 84% -130% 98% 95% 86% 99% 68% 88%
0 23 0 0 0 3 0 9 -0 0 0 0 0
Interest 0 1 1 1 0 0 0 0 0 0 0 1 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax -5 28 -4 12 45 -0 188 56 25 1,785 15 28 -17
Tax % 9% 8% -5% 32% 29% 836% 4% 20% 11% 0% 24% 23% 36%
-5 26 -4 8 32 3 181 45 22 1,781 12 22 -11
EPS in Rs -0.03 0.16 -0.03 0.05 0.20 0.02 1.13 0.28 0.14 11.13 0.07 0.14 -0.07
Raw PDF
Upcoming result date: 7 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
6,183 7,774 8,220 100 226 159 223 158 153 8 92 2,076 1,842
508 616 842 32 1,361 72 30 56 73 17 23 22 28
Operating Profit 5,675 7,159 7,377 68 -1,135 87 193 102 80 -9 69 2,054 1,813
OPM % 92% 92% 90% 68% -502% 55% 87% 65% 52% -116% 75% 99% 98%
13 2 12 1,618 0 0 20 11 12 19 3 0 0
Interest 3,455 4,665 5,007 0 0 3 0 0 1 3 0 0 2
Depreciation 31 27 24 -32 5 5 5 5 14 2 0 0 0
Profit before tax 2,201 2,468 2,358 1,718 -1,140 79 207 108 77 6 72 2,053 1,812
Tax % 27% 28% 28% 2% -2% 29% 11% -18% 17% -61% 25% 1%
1,603 1,765 1,701 1,685 -1,162 56 184 128 64 9 54 2,029 1,804
EPS in Rs 10.60 11.65 11.22 10.58 -7.29 0.35 1.15 0.80 0.40 0.06 0.34 12.68 11.27
Dividend Payout % 22% 22% 23% 25% 0% 72% 65% 0% 784% 0% 296% 95%
Compounded Sales Growth
10 Years: -12%
5 Years: 56%
3 Years: 139%
TTM: 577%
Compounded Profit Growth
10 Years: 1%
5 Years: 62%
3 Years: 216%
TTM: 620%
Stock Price CAGR
10 Years: 9%
5 Years: 24%
3 Years: 39%
1 Year: 49%
Return on Equity
10 Years: 4%
5 Years: 5%
3 Years: 8%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1,512 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 10,628 11,943 13,193 15,339 8,000 8,054 8,164 8,182 7,659 7,665 7,795 7,919 7,952
46,429 53,630 55,672 66,252 0 200 0 0 38 35 0 0 15
2,137 2,907 3,384 3,337 25 28 63 42 39 7 25 52 50
Total Liabilities 60,706 69,994 73,764 86,520 9,620 9,878 9,823 9,821 9,332 9,304 9,416 9,571 9,617
314 292 278 359 66 62 57 52 38 0 0 0 0
CWIP 0 0 1 14 0 0 0 0 0 0 0 0 0
Investments 8,486 11,272 11,199 30,487 9,229 9,383 9,733 9,722 9,286 9,295 9,329 9,377 9,391
51,906 58,430 62,287 55,660 325 433 34 46 8 8 87 194 227
Total Assets 60,706 69,994 73,764 86,520 9,620 9,878 9,823 9,821 9,332 9,304 9,416 9,571 9,617

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-9,223 -5,532 -1,604 7,276 9,513 114 114 113 107 -7 -16 1,846
-39 -1,432 553 -18,269 543 -162 -252 5 441 13 -16 95
9,099 7,004 1,146 10,936 -9,970 200 -238 -120 -548 -5 75 -1,901
Net Cash Flow -163 40 95 -57 86 152 -376 -1 0 1 43 40

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 22 2 29 96 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 22 2 29 96 0 0 0 0 0 0 0 0
Working Capital Days -177 -342 -57 -26,764 135 30 -52 24 -62 -118 28 12
ROCE % 11% 11% 11% 2% -2% 1% 2% 1% 1% 0% 1% 22%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
24.25% 24.27% 23.31% 21.34% 20.58% 21.22% 21.45% 20.42% 21.75% 20.03% 19.54% 20.99%
7.21% 6.19% 7.08% 11.84% 12.49% 16.86% 17.38% 20.48% 20.67% 15.64% 14.77% 13.68%
16.37% 16.37% 16.37% 16.37% 16.37% 16.48% 16.46% 16.45% 16.45% 16.45% 16.45% 16.45%
52.17% 53.17% 53.24% 50.45% 50.55% 45.44% 44.72% 42.65% 41.13% 47.86% 49.23% 48.87%
No. of Shareholders 4,53,1684,42,4104,56,8374,44,3854,56,4084,34,8814,40,1694,61,9684,52,8425,80,4056,40,5536,73,915

* 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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