LIC Housing Finance Ltd

LIC Housing Finance Ltd

₹ 780 -1.40%
12 Jul - close price
About

LIC Housing Finance Limited is a housing finance company registered with National Housing Bank (NHB) and is mainly engaged in financing purchase / construction of residential
flats / houses to individuals and
project finance to developers, Loan against Property (LAP), Lease Rental Discounting (LRD)for commercial properties as well as purchase of commercial shops/showrooms.
etc.(Source : 201903 Annual Report Page No: 36 and 50)

Key Points

Largest HFC
The company is the largest housing finance company in India with a total loan portfolio of Rs. ~2,87,000 Cr in FY24 vs Rs. ~2,10,000 Cr in FY20. [1] [2]

  • Market Cap 42,888 Cr.
  • Current Price 780
  • High / Low 821 / 383
  • Stock P/E 9.00
  • Book Value 571
  • Dividend Yield 1.09 %
  • ROCE 8.79 %
  • ROE 16.3 %
  • Face Value 2.00

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.41% over past five years.
  • Company has a low return on equity of 12.8% over last 3 years.
  • Company might be capitalizing the interest cost

* 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 - Housing

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 4,968 4,857 4,708 5,054 5,300 5,285 5,086 5,871 6,415 6,747 6,753 6,792 6,936
Interest 3,393 3,550 3,506 3,546 3,559 3,658 3,900 4,241 4,388 4,494 4,600 4,646 4,650
1,207 1,104 887 549 421 478 798 1,026 564 585 666 680 793
Financing Profit 368 203 315 959 1,320 1,150 388 604 1,463 1,667 1,486 1,466 1,493
Financing Margin % 7% 4% 7% 19% 25% 22% 8% 10% 23% 25% 22% 22% 22%
-3 2 7 16 9 6 6 5 0 0 6 0 0
Depreciation 12 12 13 13 14 15 16 16 19 18 12 17 17
Profit before tax 352 193 309 962 1,314 1,140 379 593 1,445 1,649 1,480 1,449 1,476
Tax % -13% 20% 20% 20% 15% 19% 20% 19% 18% 20% 20% 20% 26%
399 153 248 767 1,119 925 305 480 1,180 1,324 1,188 1,163 1,091
EPS in Rs 7.90 3.04 4.51 13.95 20.34 16.82 5.54 8.73 21.46 24.06 21.60 21.14 19.83
Gross NPA % 4.01% 5.14% 5.14% 5.35% 4.96% 4.91% 4.76% 4.49% 4.98% 4.33% 4.26% 3.55%
Net NPA % 2.70% 2.98% 3.20% 3.72% 3.01% 2.83% 2.40% 2.70% 2.99% 2.59% 2.24% 1.94%
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
Revenue 7,647 9,301 10,782 12,474 14,072 14,841 17,364 19,703 19,853 19,926 22,663 27,228
Interest 5,925 7,174 8,310 9,307 10,231 11,144 12,892 14,784 14,453 14,177 16,186 18,391
353 327 377 605 884 921 1,082 1,569 1,997 2,945 2,866 2,725
Financing Profit 1,370 1,800 2,095 2,561 2,957 2,775 3,391 3,350 3,403 2,803 3,611 6,113
Financing Margin % 18% 19% 19% 21% 21% 19% 20% 17% 17% 14% 16% 22%
11 34 16 12 8 0 0 -33 -5 28 12 6
Depreciation 8 8 9 10 9 10 12 48 49 52 66 65
Profit before tax 1,374 1,826 2,102 2,564 2,956 2,766 3,380 3,269 3,349 2,778 3,557 6,054
Tax % 26% 28% 34% 35% 35% 28% 28% 27% 18% 18% 19% 21%
1,023 1,317 1,386 1,661 1,931 2,002 2,431 2,402 2,734 2,287 2,891 4,765
EPS in Rs 20.28 26.10 27.47 32.91 38.26 39.68 48.17 47.59 54.18 41.58 52.56 86.63
Dividend Payout % 19% 17% 18% 17% 16% 17% 16% 17% 16% 20% 16% 10%
Compounded Sales Growth
10 Years: 11%
5 Years: 9%
3 Years: 11%
TTM: 20%
Compounded Profit Growth
10 Years: 14%
5 Years: 14%
3 Years: 20%
TTM: 65%
Stock Price CAGR
10 Years: 10%
5 Years: 7%
3 Years: 18%
1 Year: 99%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 13%
Last Year: 16%

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 101 101 101 101 101 101 101 101 101 110 110 110
Reserves 6,380 7,432 7,717 9,045 10,976 14,140 16,158 18,092 20,420 24,562 26,990 31,285
68,764 82,036 96,532 110,931 126,337 150,914 170,667 191,458 207,983 223,801 244,950 252,662
5,315 6,208 8,195 10,421 13,486 5,934 13,657 7,155 7,129 6,094 6,362 7,148
Total Liabilities 80,560 95,777 112,545 130,498 150,900 171,090 200,583 216,806 235,633 254,567 278,412 291,205
62 76 80 92 97 97 136 254 243 286 356 361
CWIP 0 0 0 0 0 0 0 0 4 1 1 0
Investments 185 199 237 277 527 1,972 3,595 5,496 4,636 6,199 6,976 6,277
80,313 95,502 112,228 130,129 150,277 169,021 196,853 211,055 230,751 248,081 271,079 284,567
Total Assets 80,560 95,777 112,545 130,498 150,900 171,090 200,583 216,806 235,633 254,567 278,412 291,205

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
-12,586 -11,503 -14,354 -13,036 -14,279 -19,005 -21,529 -14,715 -17,195 -16,740 -19,621 -7,055
-27 -21 -51 -61 -283 1,380 -1,656 -1,879 884 -1,601 -821 573
12,466 13,048 14,231 14,098 15,073 18,085 24,078 15,158 16,274 17,835 20,239 7,300
Net Cash Flow -146 1,525 -174 1,001 511 460 893 -1,436 -37 -507 -203 818

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
ROE % 17% 19% 18% 20% 19% 16% 16% 14% 14% 10% 11% 16%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
40.31% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24% 45.24%
28.80% 24.07% 23.46% 23.03% 20.67% 20.97% 19.32% 17.66% 17.15% 21.21% 21.91% 22.59%
15.57% 14.96% 14.92% 16.23% 19.22% 20.68% 22.74% 24.18% 25.03% 21.51% 21.76% 21.99%
15.32% 15.73% 16.38% 15.50% 14.88% 13.10% 12.70% 12.92% 12.56% 12.03% 11.09% 10.18%
No. of Shareholders 3,24,1383,84,4144,16,1464,52,1334,42,3593,77,7013,64,7853,62,9743,49,1733,24,8143,05,8622,97,899

* 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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