Sundaram Finance Ltd

₹ 4,207 -1.70%

13 Dec - close price

sundaramfinance.in BSE: 590071 NSE: SUNDARMFIN

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]

Website BSE NSE

Market Cap ₹ 46,741 Cr.
Current Price ₹ 4,207
High / Low ₹ 5,536 / 3,425
Stock P/E 29.2
Book Value ₹ 1,126
Dividend Yield 0.71 %
ROCE 9.21 %
ROE 14.2 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 21.4%

Cons

Stock is trading at 3.74 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.63%
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

Part of Nifty Total Market Nifty MidSmallcap 400 Nifty 500 Nifty Midcap 100 Nifty 200 Nifty Midcap 50 Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Midcap150 Momentum 50 Nifty Midcap 150

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Revenue	1,293	1,286	1,272	1,246	1,337	1,410	1,484	1,582	1,708	1,821	2,156	1,952	2,085
Interest	547	551	546	541	578	622	667	739	821	910	948	985	1,050
	426	367	274	331	329	327	300	382	375	351	524	402	436
Financing Profit	320	369	452	375	430	460	516	461	512	561	684	565	599
Financing Margin %	25%	29%	36%	30%	32%	33%	35%	29%	30%	31%	32%	29%	29%
	6	4	23	7	3	1	58	8	2	7	-90	8	11
Depreciation	22	25	34	29	33	36	41	39	44	48	53	48	53
Profit before tax	304	347	441	353	400	425	533	430	471	520	541	525	557
Tax %	30%	24%	21%	27%	30%	24%	23%	28%	30%	23%	28%	23%	27%
	274	314	398	277	332	382	509	429	435	506	472	435	436
EPS in Rs	23.32	26.00	30.60	22.11	27.55	29.96	38.99	33.77	32.89	38.47	24.11	39.14	39.26
Gross NPA %
Net NPA %
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Revenue	3,703	4,107	4,285	5,027	5,588	6,331	3,696	4,707	5,292	5,111	5,501	7,274	8,014
Interest	1,516	1,724	1,782	1,814	1,735	1,344	1,770	2,427	2,659	2,236	2,410	3,418	3,893
	1,288	1,389	1,505	2,221	2,735	3,906	932	1,222	1,235	1,392	1,285	1,632	1,712
Financing Profit	900	993	999	992	1,118	1,080	994	1,057	1,398	1,483	1,806	2,224	2,409
Financing Margin %	24%	24%	23%	20%	20%	17%	27%	22%	26%	29%	33%	31%	30%
	8	-5	-27	7	8	13	482	48	24	35	43	-80	-65
Depreciation	101	112	112	106	104	79	58	90	93	101	139	183	202
Profit before tax	807	876	860	893	1,022	1,014	1,418	1,016	1,330	1,417	1,711	1,961	2,142
Tax %	31%	34%	33%	34%	34%	34%	27%	21%	25%	25%	25%	27%
	620	650	644	662	768	843	1,258	845	1,223	1,296	1,510	1,842	1,849
EPS in Rs	50.76	52.30	51.83	52.49	61.52	65.70	104.49	71.25	104.87	105.61	119.51	129.25	140.98
Dividend Payout %	18%	19%	20%	21%	19%	18%	17%	18%	17%	19%	22%	23%

Compounded Sales Growth
10 Years:	6%
5 Years:	15%
3 Years:	11%
TTM:	30%

Compounded Profit Growth
10 Years:	10%
5 Years:	12%
3 Years:	9%
TTM:	6%

Stock Price CAGR
10 Years:	14%
5 Years:	20%
3 Years:	23%
1 Year:	15%

Return on Equity
10 Years:	14%
5 Years:	14%
3 Years:	14%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	111	111	111	111	111	110	110	110	110	110	110	110	110
Reserves	2,503	2,969	3,639	4,084	4,698	5,539	6,149	6,567	7,620	8,685	9,810	10,968	12,400
	16,795	17,828	18,795	18,758	20,216	21,069	25,023	35,939	36,461	36,356	42,694	52,334	56,256
	2,637	3,005	3,241	5,095	5,724	7,268	2,388	2,105	2,369	3,003	3,462	864	893
Total Liabilities	22,046	23,914	25,785	28,048	30,749	33,986	33,671	44,721	46,560	48,154	56,076	64,276	69,659
	541	559	515	817	862	821	451	903	865	1,117	1,296	1,389	1,430
CWIP	0	3	2	4	3	3	0	0	0	0	1	5	0
Investments	1,963	2,450	2,731	4,026	4,815	8,693	4,539	5,096	6,057	8,088	8,082	5,732	6,423
	19,542	20,903	22,537	23,201	25,070	24,469	28,680	38,722	39,638	38,950	46,697	57,150	61,806
Total Assets	22,046	23,914	25,785	28,048	30,749	33,986	33,671	44,721	46,560	48,154	56,076	64,276	69,659

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-2,210	-564	-1,430	310	-965	-5,547	-4,200	9	450	1,781	-6,504	-8,486
	-483	-228	446	-83	-554	-1,182	1,000	-1,983	-243	-1,597	669	89
	2,713	1,004	757	-261	1,394	6,756	3,212	1,862	-122	-200	5,890	8,754
Net Cash Flow	19	213	-227	-33	-124	27	12	-111	85	-16	54	357

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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 %	24%	21%	17%	15%	15%	14%	14%	12%	16%	14%	14%	14%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	35.89%	38.49%	38.49%	38.49%	38.49%	38.49%	38.49%	38.49%	37.88%	37.87%	37.86%	37.23%
	0.00%	9.91%	0.00%	7.57%	7.69%	7.78%	7.78%	8.35%	8.31%	13.36%	17.31%	18.42%
	24.19%	14.27%	24.06%	16.70%	16.80%	16.87%	16.94%	16.55%	16.84%	12.39%	8.88%	8.02%
	39.10%	36.50%	36.64%	36.41%	36.20%	36.04%	35.97%	35.80%	36.16%	35.58%	35.14%	35.53%
	0.00%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	23,413	24,149	24,827	24,073	23,693	23,652	35,741	41,738	42,597	42,288	43,762	44,168

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	36.16%	36.05%	35.96%	36.47%	35.93%	35.91%	38.49%	38.49%	37.87%	37.23%
	1.66%	0.00%	0.00%	7.21%	0.00%	0.00%	9.91%	7.78%	13.36%	18.42%
	13.96%	16.91%	17.78%	11.58%	20.90%	23.90%	14.27%	16.87%	12.39%	8.02%
	47.32%	46.14%	45.39%	43.88%	42.32%	39.38%	36.50%	36.04%	35.58%	35.53%
	0.91%	0.89%	0.88%	0.86%	0.00%	0.00%	0.82%	0.00%	0.00%	0.00%
No. of Shareholders	20,758	23,633	25,847	24,659	27,302	23,573	24,149	23,652	42,288	44,168

* 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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