IDFC Ltd

About [ edit ]

IDFC is a Non-Banking Finance Company (NBFC) regulated by the Reserve Bank of India (RBI). Operating as an Infrastructure Finance Company, i.e. financing infrastructure projects in sectors like energy, telecommunication, transportation, commercial and industrial projects including hospital, education, and tourism and hotels upto September 30, 2015. The Company had received in principle approval from the RBI to set up a new private sector bank in April 2014. Since October 1, 2015 the company is operating as NBFC - Investment Company.(Source : 202003 Annual Report Page No: 61)

  • Market Cap 8,006 Cr.
  • Current Price 50.2
  • High / Low 59.0 / 13.4
  • Stock P/E
  • Book Value 52.6
  • Dividend Yield 1.30 %
  • ROCE -9.74 %
  • ROE -10.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.95 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -48.80% over past five years.
  • Company has a low return on equity of -2.49% for last 3 years.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,642 114 218 -34 57 118 58 118 47 89 87 104
851 107 160 952 426 104 464 458 260 79 232 280
Operating Profit 1,791 6 58 -986 -368 14 -407 -341 -213 9 -145 -176
OPM % 68% 6% 27% -641% 12% -702% -290% -454% 10% -167% -170%
Other Income 48 80 63 120 75 15 7 17 6 15 5 2
Interest 1,899 5 -0 1 0 1 -1 0 2 3 5 4
Depreciation 49 3 3 3 4 6 3 5 18 23 -12 5
Profit before tax -108 78 119 -870 -297 22 -402 -329 -227 -0 -133 -182
Tax % 108% 34% 10% 23% -4% 77% -1% -4% -7% -5,652% -10% -13%
Net Profit 2 47 120 -675 -312 5 -408 -343 -240 -26 -145 -206
EPS in Rs 0.01 0.29 0.75 -4.23 -1.96 0.03 -2.55 -2.15 -1.51 -0.16 -0.91 -1.29

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
3,627 4,046 4,917 6,420 8,145 8,778 9,720 8,968 10,400 628 356 342 326
502 641 726 768 844 1,141 1,779 1,490 1,806 412 1,200 1,255 851
Operating Profit 3,125 3,405 4,190 5,653 7,301 7,637 7,941 7,478 8,594 217 -844 -913 -525
OPM % 86% 84% 85% 88% 90% 87% 82% 83% 83% 34% -237% -267% -161%
Other Income 16 16 16 15 3 12 1 -2,640 -3 879 -107 11 29
Interest 2,081 1,953 2,388 3,456 4,676 5,055 5,658 5,736 6,650 1 6 3 14
Depreciation 24 41 40 38 34 31 -61 62 149 13 14 32 34
Profit before tax 1,036 1,428 1,779 2,173 2,594 2,563 2,346 -959 1,791 1,082 -970 -936 -543
Tax % 27% 26% 28% 29% 29% 29% 25% 38% 27% 18% 15% -6%
Net Profit 750 1,062 1,282 1,554 1,836 1,803 1,707 -935 699 869 -839 -995 -618
EPS in Rs 5.79 8.17 8.77 10.28 12.12 11.89 10.72 -5.86 4.38 5.44 -5.26 -6.23 -3.87
Dividend Payout % 21% 18% 23% 22% 21% 22% 24% 0% 6% 14% 0% -51%
Compounded Sales Growth
10 Years:-22%
5 Years:-49%
3 Years:-68%
TTM:-7%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:42%
Stock Price CAGR
10 Years:-4%
5 Years:3%
3 Years:-1%
1 Year:241%
Return on Equity
10 Years:8%
5 Years:3%
3 Years:-2%
Last Year:-10%

Balance Sheet

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 Sep 2020
1,295 1,301 2,301 1,512 1,515 1,516 1,593 1,594 1,596 1,596 1,596 1,596 1,596
Reserves 4,881 5,709 8,943 10,773 12,168 13,524 15,682 8,509 9,224 9,680 8,788 6,724 6,796
Borrowings 23,548 26,544 36,304 46,435 54,227 56,565 66,252 65,749 92,153 3,544 0 47 141
976 1,255 2,637 2,256 3,146 3,554 3,536 11,000 14,650 767 173 200 133
Total Liabilities 30,700 34,809 49,346 60,977 71,056 75,159 87,062 86,851 117,623 15,587 10,558 8,568 8,666
1,529 1,587 1,576 1,347 1,302 1,285 1,370 1,725 2,202 1,270 885 918 872
CWIP 4 14 34 37 0 1 14 29 6 0 0 0 0
Investments 6,500 4,655 6,961 7,534 11,004 11,309 29,975 30,703 51,687 9,379 8,673 6,681 7,602
22,666 28,552 40,774 52,060 58,750 62,565 55,703 54,394 63,728 4,937 1,000 969 193
Total Assets 30,700 34,809 49,346 60,977 71,056 75,159 87,062 86,851 117,623 15,587 10,558 8,568 8,666

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
-43 -3,326 -11,672 -9,256 -5,498 -1,486 7,524 2,994 -3,806 -761 3,418 -1,206
-1,560 5 -1,271 -57 -2,006 184 -17,628 8,640 -20,361 -713 154 2,386
651 2,750 13,053 9,108 7,589 1,432 10,010 -8,891 26,382 1,183 -3,729 -652
Net Cash Flow -951 -570 111 -205 85 130 -94 2,743 2,215 -291 -157 528

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
ROCE % 11% 11% 10% 11% 11% 11% 10% 9% 9% 2% -6% -10%
Debtor Days 3 8 4 22 7 27 2 1 2 13 14 19
Inventory Turnover

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
32.08 33.47 34.09 33.92 35.19 37.85 38.43 37.68 37.27 31.34 29.69 29.88
19.92 16.28 17.06 16.77 16.14 10.54 10.45 10.43 9.55 9.24 8.26 7.66
16.37 16.37 16.37 16.37 16.37 16.37 16.37 16.37 16.37 16.37 16.37 16.37
31.62 33.88 32.47 32.94 32.30 35.24 34.74 35.51 36.80 43.04 45.67 46.09

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