Sundaram Finance Ltd

Sundaram Finance Ltd

₹ 4,754 3.37%
24 Apr 3:31 p.m.
About

Sundaram Finance is a registered deposit taking NBFC established in 1954. The Co. is engaged in retail finance across multiple domains like Vehicle finance, Home Finance, Mutual Funds, General insurance and Financial service distribution [1]

Key Points

Company History
The Co. started with the business of financing the purchase of commercial vehicles and gradually expanded to multiple financial services. In 1981 it started equipment leasing operations. Post-1989 it started extending financial services through subsidiaries like India Equipment Leasing Ltd., and Sundaram Home Finance Ltd. In 1996 it entered into a joint venture agreement with Newton Management Limited, U. K., and Stewart Newton Holdings (Mauritius) Limited for setting up an Asset Management Company. [1]

  • Market Cap 52,817 Cr.
  • Current Price 4,754
  • High / Low 4,824 / 2,211
  • Stock P/E 41.8
  • Book Value 740
  • Dividend Yield 0.59 %
  • ROCE 8.49 %
  • ROE 14.8 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 25.6%

Cons

  • Stock is trading at 6.39 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -0.61%
  • The company has delivered a poor sales growth of 7.44% over past five 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 & 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
Revenue 1,045 967 950 1,022 958 940 935 1,048 1,009 1,054 1,187 1,375 1,346
Interest 507 485 459 413 417 411 404 426 458 490 544 613 694
201 251 228 315 258 139 222 205 209 182 259 258 233
Financing Profit 337 231 263 293 283 389 309 417 342 382 385 504 419
Financing Margin % 32% 24% 28% 29% 30% 41% 33% 40% 34% 36% 32% 37% 31%
2 51 5 3 3 9 7 4 2 51 7 3 6
Depreciation 18 19 16 18 19 20 19 22 25 28 27 31 35
Profit before tax 320 263 253 278 267 378 297 399 319 405 365 476 390
Tax % 24% 21% 24% 24% 24% 21% 24% 24% 24% 22% 23% 23% 23%
242 209 192 211 202 299 226 304 243 316 281 366 300
EPS in Rs 21.80 18.83 17.24 18.96 18.22 26.89 20.32 27.32 21.84 28.48 25.32 32.98 27.01
Gross NPA % 2.28% 4.59% 3.85% 7.71% 2.42% 2.66% 4.29% 3.97% 3.00% 2.96% 2.89% 2.61%
Net NPA % 1.35% 3.38% 2.48% 6.17% 1.26% 1.41% 2.97% 2.78% 2.10% 2.00% 2.06% 1.82%
Raw PDF

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
Revenue 1,742 2,117 2,292 2,353 2,461 2,411 2,841 3,324 3,911 3,994 3,870 4,068 4,963
Interest 884 1,082 1,164 1,168 1,218 1,165 1,346 1,766 2,072 2,031 1,700 1,777 2,341
296 376 388 423 490 460 596 626 837 857 941 820 932
Financing Profit 562 660 740 763 753 787 899 931 1,002 1,107 1,229 1,472 1,689
Financing Margin % 32% 31% 32% 32% 31% 33% 32% 28% 26% 28% 32% 36% 34%
17 14 -1 -20 14 15 14 611 16 20 20 42 67
Depreciation 67 82 92 91 84 82 64 54 73 70 73 94 120
Profit before tax 512 593 647 651 683 720 850 1,488 945 1,056 1,177 1,420 1,636
Tax % 31% 31% 32% 30% 30% 31% 34% 24% 23% 23% 23% 23%
355 410 443 454 477 495 563 1,126 724 809 903 1,088 1,264
EPS in Rs 31.96 36.91 39.83 40.88 42.96 44.59 50.71 101.38 65.16 72.82 81.32 97.96 113.79
Dividend Payout % 24% 24% 25% 26% 26% 26% 24% 17% 20% 25% 25% 28%
Compounded Sales Growth
10 Years: 7%
5 Years: 7%
3 Years: 1%
TTM: 26%
Compounded Profit Growth
10 Years: 10%
5 Years: 14%
3 Years: 15%
TTM: 18%
Stock Price CAGR
10 Years: 21%
5 Years: 26%
3 Years: 26%
1 Year: 96%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 14%
Last Year: 15%

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 56 111 111 111 111 111 111 111 111 111 111 111 111
Reserves 1,733 1,976 2,294 2,867 3,202 3,635 4,023 4,933 5,436 6,068 6,782 7,626 8,108
9,854 11,467 11,776 12,535 12,587 13,870 21,109 25,006 27,337 28,213 27,830 32,755 37,843
1,289 1,084 1,233 1,248 1,493 1,552 568 600 535 527 565 566 622
Total Liabilities 12,931 14,638 15,414 16,761 17,393 19,167 25,811 30,649 33,420 34,920 35,288 41,059 46,684
294 332 343 309 276 276 294 305 360 331 360 513 587
CWIP 0 0 3 2 3 1 0 0 0 0 0 1 0
Investments 764 1,044 1,447 1,521 1,836 1,883 2,207 1,866 3,938 4,052 5,319 5,063 5,906
11,873 13,261 13,620 14,929 15,278 17,008 23,310 28,478 29,122 30,536 29,608 35,483 40,191
Total Assets 12,931 14,638 15,414 16,761 17,393 19,167 25,811 30,649 33,420 34,920 35,288 41,059 46,684

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
-1,361 -705 41 -1,082 313 -1,025 -6,057 -4,278 304 -251 1,739 -4,981
283 -291 -283 482 -175 -190 -367 1,028 -1,734 82 -1,077 467
274 1,019 254 571 -141 1,215 6,460 3,254 1,319 253 -687 4,573
Net Cash Flow -804 23 13 -28 -4 1 36 3 -111 83 -24 59

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
ROE % 21% 21% 20% 18% 15% 14% 14% 15% 14% 14% 14% 15%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
35.90% 35.89% 35.89% 38.49% 38.49% 38.49% 38.49% 38.49% 38.49% 38.49% 37.88% 37.87%
0.00% 0.00% 0.00% 9.91% 0.00% 7.57% 7.69% 7.78% 7.78% 8.35% 8.31% 13.36%
24.11% 24.18% 24.19% 14.27% 24.06% 16.70% 16.80% 16.87% 16.94% 16.55% 16.84% 12.39%
39.16% 39.10% 39.10% 36.50% 36.64% 36.41% 36.20% 36.04% 35.97% 35.80% 36.16% 35.58%
0.00% 0.00% 0.00% 0.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
No. of Shareholders 22,88822,01323,41324,14924,82724,07323,69323,65235,74141,73842,59742,288

* 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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