Sundaram Finance Ltd

Sundaram Finance Ltd

₹ 4,189 0.71%
22 Feb 1:25 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 46,543 Cr.
  • Current Price 4,189
  • High / Low 4,258 / 2,190
  • Stock P/E 29.0
  • Book Value 952
  • Dividend Yield 0.66 %
  • ROCE 8.00 %
  • ROE 14.1 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 19.5%

Cons

  • Stock is trading at 4.37 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 -2.77% 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

Consolidated Figures in Rs. Crores / View Standalone

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 1,392 1,285 1,257 1,293 1,286 1,272 1,246 1,337 1,410 1,484 1,583 1,708 1,821
Interest 664 618 593 547 551 546 541 578 622 666 738 821 910
294 364 325 426 367 274 331 329 327 301 383 375 351
Financing Profit 434 303 340 320 369 452 375 430 460 516 462 512 561
Financing Margin % 31% 24% 27% 25% 29% 36% 30% 32% 33% 35% 29% 30% 31%
5 53 5 6 4 23 7 3 1 58 8 2 7
Depreciation 23 25 20 22 25 34 29 33 36 41 39 44 48
Profit before tax 415 331 325 304 347 441 353 400 425 533 431 471 520
Tax % 24% 23% 25% 30% 24% 21% 27% 30% 24% 23% 28% 30% 23%
365 299 310 274 314 398 277 332 382 509 430 435 506
EPS in Rs 30.90 24.35 25.70 23.32 26.00 30.60 22.11 27.55 29.96 38.99 33.77 32.89 38.47
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 3,024 3,703 4,107 4,285 5,027 5,588 6,331 3,696 4,707 5,292 5,111 5,501 6,596
Interest 1,183 1,516 1,724 1,782 1,814 1,735 1,344 1,770 2,427 2,659 2,236 2,406 3,135
1,140 1,288 1,389 1,505 2,221 2,735 3,906 932 1,222 1,235 1,392 1,288 1,409
Financing Profit 701 900 993 999 992 1,118 1,080 994 1,057 1,398 1,483 1,806 2,051
Financing Margin % 23% 24% 24% 23% 20% 20% 17% 27% 22% 26% 29% 33% 31%
14 8 -5 -27 7 8 13 482 48 24 35 43 75
Depreciation 84 101 112 112 106 104 79 58 90 93 101 139 171
Profit before tax 631 807 876 860 893 1,022 1,014 1,418 1,016 1,330 1,417 1,711 1,955
Tax % 32% 31% 34% 33% 34% 34% 34% 27% 21% 25% 25% 26%
498 620 650 644 662 768 843 1,258 845 1,223 1,296 1,500 1,880
EPS in Rs 41.18 50.76 52.30 51.83 52.49 61.52 65.70 104.49 71.25 104.87 105.61 118.61 144.12
Dividend Payout % 19% 18% 19% 20% 21% 19% 18% 17% 18% 17% 19% 23%
Compounded Sales Growth
10 Years: 4%
5 Years: -3%
3 Years: 5%
TTM: 25%
Compounded Profit Growth
10 Years: 9%
5 Years: 13%
3 Years: 19%
TTM: 31%
Stock Price CAGR
10 Years: 23%
5 Years: 24%
3 Years: 23%
1 Year: 80%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 15%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 56 111 111 111 111 111 110 110 110 110 110 110 110
Reserves 2,109 2,503 2,969 3,639 4,084 4,698 5,539 6,149 6,567 7,620 8,685 9,800 10,464
Preference Capital 0 0 0 0 0 0 0 0 0 0 0 0
13,349 16,795 17,828 18,795 18,758 20,216 21,069 25,023 35,939 36,461 36,356 42,694 48,892
2,696 2,637 3,005 3,241 5,095 5,724 7,268 2,388 2,105 2,369 3,003 3,462 3,831
Total Liabilities 18,210 22,046 23,914 25,785 28,048 30,749 33,986 33,671 44,721 46,560 48,154 56,066 63,297
511 541 559 515 817 862 821 451 903 865 1,117 1,296 1,366
CWIP 0 0 3 2 4 3 3 0 0 0 0 1 0
Investments 1,347 1,963 2,450 2,731 4,026 4,815 8,693 4,539 5,096 6,057 8,088 8,082 9,380
16,352 19,542 20,903 22,537 23,201 25,070 24,469 28,680 38,722 39,638 38,950 46,687 52,551
Total Assets 18,210 22,046 23,914 25,785 28,048 30,749 33,986 33,671 44,721 46,560 48,154 56,066 63,297

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2,374 -2,210 -564 -1,430 310 -965 -5,547 -4,200 9 450 1,781 -6,504
142 -483 -228 446 -83 -554 -1,182 1,000 -1,983 -243 -1,597 669
1,570 2,713 1,004 757 -261 1,394 6,756 3,212 1,862 -122 -200 5,890
Net Cash Flow -662 19 213 -227 -33 -124 27 12 -111 85 -16 54

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 % 23% 24% 21% 17% 15% 15% 14% 14% 12% 16% 14% 14%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2016Jun 2016Sep 2018Dec 2018Mar 2019Jun 2019Sep 2020Mar 2022
36.16% 36.14% 36.45% 36.45% 36.47% 36.69% 35.93% 38.49%
1.66% 4.95% 6.50% 6.64% 7.21% 7.95% 11.42% 9.91%
13.96% 10.87% 11.44% 11.34% 11.58% 11.08% 10.87% 14.27%
47.32% 47.13% 44.75% 44.71% 43.88% 44.28% 40.96% 36.50%
0.91% 0.91% 0.86% 0.86% 0.86% 0.00% 0.83% 0.82%
No. of Shareholders 20,75821,11226,38425,93624,65926,34725,59124,149

* 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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