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Indiabulls Housing

₹155.1 2.5 | 1.6%

Market Cap ₹11453 Cr.

Stock P/E 7.0

P/B 0.5

Current Price ₹155.1

Book Value ₹ 303.6

Face Value 2

52W High ₹209.6

Dividend Yield 0.81%

52W Low ₹ 96.6

Indiabulls Housing Research see more...

Overview Inc. Year: 2005Industry: Finance - Housing

Indiabulls Housing Finance Ltd, together with its subsidiaries, operates as a housing finance agency. The company offers domestic loans, home loan balance transfer, MSME loans, mortgage against belongings, NRI home mortgage, domestic renovation and extension loans, and rural domestic loans, in addition to credit connected subsidy and emergency credit line guarantee schemes. It serves co-operative society, affiliation of persons, people, corporations, institutions, companies, builders, contractors, tenants, developers and others. Till December 31, 2021, the Company had 141 branches. Indiabulls Housing Finance Ltd was incorporated in 2000 and is primarily based in Gurugram, India.

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Indiabulls Housing Share Price

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Indiabulls Housing Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Operating Revenue 2233 2274 2189 2075 2230 2339 2075 1900 2227 2143
Other Income 0 3 2 3 2 1 2 15 15 69
Total Income 2233 2278 2191 2078 2231 2340 2077 1916 2242 2212
Total Expenditure 254 257 256 179 406 522 293 147 448 478
Operating Profit 1979 2021 1935 1899 1826 1817 1784 1769 1794 1733
Interest Expense 1571 1577 1543 1495 1410 1389 1342 1354 1350 1312
Depreciation 19 20 20 18 23 23 22 19 23 23
Profit Before Tax 390 424 372 386 393 405 420 396 422 399
Provision for Tax 103 121 66 99 103 114 160 100 124 96
Profit After Tax 286 303 307 287 289 291 261 296 298 303
Adjustments 0 0 0 0 0 0 2 -2 0 0
Profit After Adjustments 286 303 307 287 289 291 263 294 298 303
Adjusted Earnings Per Share 5.7 6 6.1 5.7 5.8 5.8 5.2 5.9 5.6 5.6

Indiabulls Housing Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Operating Revenue 4526 5450 6509 8365 10493 14951 17050 13216 9927 8983 8719 8345
Other Income 275 485 803 936 1292 61 32 7 103 67 161 101
Total Income 4801 5935 7312 9300 11785 15012 17082 13224 10030 9050 8880 8447
Total Expenditure 537 663 876 1179 1579 2087 1710 2043 1432 1175 1554 1366
Operating Profit 4264 5272 6435 8121 10206 12925 15372 11181 8598 7875 7326 7080
Interest Expense 2599 3282 3944 4971 6411 8010 9726 8512 6939 6242 5636 5358
Depreciation 9 8 19 20 23 37 43 108 97 77 86 87
Profit Before Tax 1655 1982 2473 3129 3772 4878 5604 2561 1562 1556 1604 1637
Provision for Tax 389 413 571 776 863 1005 1546 395 360 378 476 480
Profit After Tax 1266 1569 1901 2353 2909 3873 4058 2166 1202 1178 1128 1158
Adjustments -8 -4 -0 -8 -2 22 33 34 0 0 2 0
Profit After Adjustments 1258 1564 1901 2345 2906 3895 4091 2200 1202 1178 1130 1158
Adjusted Earnings Per Share 35.9 41.8 47.7 49.6 61.2 81.5 85.4 46.8 24.1 23.6 22.5 22.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -3% -13% -10% 7%
Operating Profit CAGR -7% -13% -11% 6%
PAT CAGR -4% -20% -22% -1%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 51% -2% -24% -5%
ROE Average 7% 7% 12% 21%
ROCE Average 10% 10% 10% 12%

Indiabulls Housing Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 5181 5706 6632 10694 12122 14358 16482 15538 16134 16674 17361
Minority's Interest 145 2 2 0 0 0 0 0 0 0 0
Borrowings 18234 20166 29105 35521 54116 89419 89762 69333 57805 46876 37269
Current Liability 15705 18545 21621 29533 37104 28076 23282 17104 18239 17749 19641
Other Liabilities & Provisions 824 415 1185 2051 3141 288 463 509 391 119 232
Total Liabilities 40089 44832 58546 77799 106484 132141 129990 102484 92568 81418 74509
Loans 26999 30799 40151 53193 73670 109833 92387 70211 65407 59950 55831
Investments 15 25 23 724 797 2790 2019 4420 5104 4938 5247
Fixed Assets 58 115 123 136 169 169 214 450 295 327 433
Other Loans 765 462 795 1470 2671 651 884 1294 662 1175 1433
Other Non Current Assets 518 815 615 414 285 129 136 739 154 149 166
Current Assets 11734 12616 16839 21862 28892 18568 34350 24700 19561 11896 8955
Total Assets 40089 44832 58546 77799 106484 132141 129990 102484 92568 81418 74509

Indiabulls Housing Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 0 6671 6674 6388 2497 5134 4252 13903 13565 13124 7986
Cash Flow from Operating Activities -3609 -2452 -8892 -11643 -17845 -25024 21206 19331 7089 657 4001
Cash Flow from Investing Activities -62 -635 -2093 -4997 -2107 368 -4220 8265 3103 1649 884
Cash Flow from Financing Activities 5227 3090 10699 15330 22591 23775 -7335 -27934 -10632 -7444 -9142
Net Cash Inflow / Outflow 1557 3 -286 -1310 2638 -881 9650 -338 -440 -5138 -4257
Closing Cash & Cash Equivalent 6671 6674 6388 5078 5135 4252 13903 13565 13124 7986 3729

Indiabulls Housing Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 35.92 41.77 47.69 49.64 61.16 81.46 85.37 46.81 24.07 23.58 22.46
CEPS(Rs) 36.4 42.09 48.16 50.25 61.69 81.77 85.57 48.39 26 25.13 24.12
DPS(Rs) 20 29 26 45 27 41 40 31 9 0 1.25
Book NAV/Share(Rs) 144.56 152.27 166.29 226.34 255.05 298.23 340.5 326.5 319.37 330.23 341.7
Net Profit Margin 27.97 28.78 29.21 28.13 27.72 25.91 23.8 16.39 12.1 13.11 12.93
Operating Margin 93.99 96.59 98.59 96.84 97.04 86.2 89.91 83.78 85.63 86.8 83.04
PBT Margin 36.57 36.36 37.99 37.41 35.95 32.63 32.87 19.38 15.73 17.32 18.39
ROA(%) 3.16 3.69 3.68 3.45 3.16 3.25 3.1 1.86 1.23 1.35 1.45
ROE(%) 25 29.13 30.84 27.17 25.5 29.36 26.54 13.68 7.68 7.26 6.7
ROCE(%) 11.67 13.55 13.46 12.87 12.04 11.57 12.38 10.18 9.44 9.57 9.8
Price/Earnings(x) 0 5.05 10.43 11.62 14.54 13.55 8.96 1.84 7.28 5.97 3.87
Price/Book(x) 0 1.38 2.99 2.55 3.49 3.7 2.25 0.26 0.55 0.43 0.25
Dividend Yield(%) 0 12.27 4.66 6.96 2.71 3.31 4.67 32.11 4.58 0 1.28
EV/Net Sales(x) 5.85 7.16 9.81 10.21 11.62 10.63 7.49 5.2 6.1 6.54 5.91
EV/Core EBITDA(x) 6.21 7.4 9.92 10.52 11.94 12.3 8.31 6.14 7.04 7.46 7.04
Interest Earned Growth(%) 0 20.42 19.42 28.51 25.45 42.49 14.04 -22.48 -24.89 -9.51 -2.94
Net Profit Growth 0 23.89 21.21 23.76 23.62 33.17 4.76 -46.62 -44.52 -1.98 -4.25
EPS Growth(%) 0 16.28 14.18 4.09 23.2 33.18 4.8 -45.16 -48.59 -2.03 -4.73
Interest Coverage(x) % 1.64 1.6 1.63 1.63 1.59 1.61 1.58 1.3 1.23 1.25 1.28

Indiabulls Housing Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 9.71 9.65 9.58 9.58 9.58 0 0 0 0 0
FII 28.36 26.33 25.01 24.01 21.7 18.29 18.52 22.37 23.42 19.33
DII 14.86 13.54 9.82 11.07 13.08 13.02 16.09 16.07 8.53 7.15
Public 46.95 50.36 55.47 55.21 55.51 68.58 65.28 61.56 68.05 73.51
Others 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Stock is trading at 0.5 times its book value
  • Company has reduced debt.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of 7% over the last 3 years.
  • The company has delivered a poor profit growth of -21% over past five years.

* 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.

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