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Indiabulls Housing Finance Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 24 Jan, 2017  | Follow Author | Add to my Favourites 
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  • Indiabulls Housing Finance Limited is a housing finance company, the company’s primary business activities are to carry on business of investing and finance related activities.
  • Consolidated revenue for the quarter rose by 24.61% to Rs. 25858.57 mn from Rs. 20750.82 mn, when compared with the prior year period.
  • During Q3 FY17, consolidated net profit stood at Rs. 7514.91 mn as against Rs. 6024.20 mn in Q3 FY16, up by 24.75%.
  • During the quarter, consolidated EBIDTA is Rs. 26447.33 mn as against Rs. 20365.14 mn in the corresponding period of the previous year, an increase of 29.87%.
  • During the quarter, consolidated PBT up by 24.86% to Rs. 10057.52 mn from Rs. 8055.04 mn in the corresponding period of the previous year.
  • EPS of the company stood at Rs. 17.73 during the quarter, registering 23.81% increase over previous year period.
  • The company has cash, cash equivalents and investments in liquid debt instruments of Rs. 228150 mn as at 3lst Dec, 2016.
  • Gross NPA as at 31st Dec, 2016 stood at 0.85% (0.83% at Dec’15). Net NPA as at 31st Dec, 2016 stood at 0.36% (0.35% at Dec’ 15).
  • Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 21% over 2015 to 2018E, respectively.


  • At the current market price of Rs.750.10, the stock P/E ratio is at 10.92 X FY17E and 9.36 X FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 68.66 and Rs. 80.13 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 21% over 2015 to 2018E, respectively.
  • On the basis of EV/EBITDA, the stock trades at 7.66 X for F Y17E and 7.08X for FY18E.
  • Price to Book Value of the stock is expected to be at 2.34 X and 1.87 X for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ,, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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