PNB Housing Finance Ltd

PNB Housing Finance is primarily engaged in the business of providing loans to individuals and corporate bodies for purchase, construction, repair and up-gradation of houses.

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 52.79% over 5 years
Cons:
Company has low interest coverage ratio.
Promoter holding is low: 32.67%

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
Revenue 970 999 1,076 1,160 1,274 1,416 1,638 1,616 1,730 2,000 2,135 2,302
Interest 685 673 678 750 835 926 1,026 1,100 1,229 1,410 1,428 1,513
74 113 152 159 158 148 228 164 189 202 154 288
Financing Profit 212 213 246 250 281 342 384 352 313 387 553 500
Financing Margin % 22% 21% 23% 22% 22% 24% 23% 22% 18% 19% 26% 22%
Other Income 0 0 0 0 0 0 0 0 0 1 3 2
Depreciation 5 5 5 5 5 7 7 7 8 8 9 16
Profit before tax 207 208 242 245 276 336 377 346 305 380 547 486
Tax % 34% 34% 37% 31% 31% 32% 33% 32% 32% 30% 32% 24%
Net Profit 138 138 152 170 190 229 253 235 208 267 371 368
Gross NPA % 0.26% 0.37% 0.22% 0.43% 0.34% 0.42% 0.33% 0.43% 0.00% 0.45% 0.00% 0.85%
Net NPA % 0.18% 0.27% 0.15% 0.33% 0.26% 0.33% 0.23% 0.33% 0.00% 0.00% 0.00% 0.43%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
Revenue 224 276 308 359 461 666 1,120 1,780 2,698 3,908 5,488 7,481 8,167
Interest 146 182 199 230 314 462 802 1,265 1,860 2,644 3,537 5,167 5,579
24 19 22 37 41 75 136 213 320 442 693 708 833
Financing Profit 55 75 86 93 106 130 183 303 518 822 1,258 1,606 1,754
Financing Margin % 24% 27% 28% 26% 23% 19% 16% 17% 19% 21% 23% 21% 21%
Other Income 3 1 9 5 -0 -0 -0 -0 1 0 0 4 5
Depreciation 0 0 0 0 0 1 3 8 15 19 24 31 41
Profit before tax 57 76 94 98 106 129 179 294 503 804 1,235 1,578 1,718
Tax % 29% 29% 29% 29% 27% 28% 28% 34% 35% 35% 32% 31%
Net Profit 41 53 67 69 77 93 130 194 326 524 842 1,081 1,215
EPS in Rs 31.62 50.55 64.57
Dividend Payout % 15% 11% 9% 10% 9% 13% 15% 16% 13% 19% 18% 14%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:39.11%
5 Years:46.19%
3 Years:40.49%
TTM:37.40%
Compounded Profit Growth
10 Years:35.09%
5 Years:52.79%
3 Years:49.06%
TTM:33.89%
Return on Equity
10 Years:15.30%
5 Years:14.80%
3 Years:14.45%
Last Year:15.45%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
30 30 30 30 30 50 66 104 127 166 167 167
Reserves 139 185 245 306 370 568 868 1,475 2,019 5,412 6,402 7,268
Borrowings 1,883 2,340 2,656 3,171 3,860 6,695 10,108 16,481 26,014 35,497 53,777 71,859
44 48 135 164 177 344 507 1,013 1,578 2,007 2,673 4,456
Total Liabilities 2,096 2,603 3,065 3,671 4,436 7,657 11,549 19,072 29,738 43,081 63,018 83,750
2 2 2 2 5 14 26 40 58 58 255 233
CWIP 0 0 0 0 1 4 3 18 4 2 10 5
Investments 136 367 430 311 378 777 645 1,586 1,622 3,280 2,413 4,457
1,958 2,234 2,633 3,358 4,053 6,863 10,875 17,429 28,053 39,741 60,340 79,054
Total Assets 2,096 2,603 3,065 3,671 4,436 7,657 11,549 19,072 29,738 43,081 63,018 83,750

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-351 -228 -580 -728 -2,901 -3,627 -6,791 -9,664 -12,406 -15,664 -16,626
-39 -221 124 -3 -14 -15 -37 -20 -17 -50 -53
406 450 516 715 2,965 3,604 6,850 9,804 12,322 18,464 17,888
Net Cash Flow 17 0 60 -16 51 -38 22 120 -101 2,751 1,209

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROE % 27% 28% 27% 23% 21% 18% 17% 15% 18% 14% 14% 15%

Credit Ratings