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Last Updated on: 23 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 540173 | NSE: PNBHOUSING

PNB Housing Finance Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:46 pm

Market Cap 22,249 Cr.
Current Price 855
High / Low1,202/600
Stock P/E13.1
Book Value 575
Dividend Yield0.00 %
ROCE9.27 %
ROE11.8 %
Face Value 10.0
PEG Ratio1.02

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for PNB Housing Finance Ltd

Competitors of PNB Housing Finance Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Ind Bank Housing Ltd 43.3 Cr. 43.387.9/31.6 1210.00 %7.86 %% 10.0
Home First Finance Company India Ltd 9,689 Cr. 1,0871,383/77728.3 2570.31 %11.2 %15.5 % 2.00
Aptus Value Housing Finance India Ltd 15,757 Cr. 315402/28223.3 80.31.43 %14.7 %17.2 % 2.00
Repco Home Finance Ltd 2,808 Cr. 448595/3666.60 4940.67 %10.5 %14.6 % 10.0
PNB Housing Finance Ltd 22,249 Cr. 8551,202/60013.1 5750.00 %9.27 %11.8 % 10.0
Industry Average10,540.00 Cr420.9912.67287.990.76%11.06%13.49%5.64

All Competitor Stocks of PNB Housing Finance Ltd

Quarterly Result

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Revenue1,5691,4821,4141,4041,6721,7871,6271,6991,7661,7481,8011,8131,868
Interest1,0349989319309649971,0081,0481,0581,0871,0701,0971,119
Expenses239224247149356409261187190206156153130
Financing Profit296260237325352381358464519455575563619
Financing Margin %19%18%17%23%21%21%22%27%29%26%32%31%33%
Other Income3001-101023592
Depreciation13131413131313131113141314
Profit before tax286248223313338369346451509445566559607
Tax %18%26%24%24%22%26%18%22%24%22%22%21%22%
Net Profit233184170238263272283353384347444439472
EPS in Rs9.007.096.569.1910.1410.5010.9013.5914.8113.3417.0916.8918.15
Gross NPA %5.92%7.64%7.61%6.35%6.05%4.86%3.83%3.76%1.78%1.73%1.50%1.35%1.24%
Net NPA %3.32%4.87%4.49%4.26%3.59%3.22%2.76%2.58%1.19%1.14%0.95%0.92%0.84%

Last Updated: November 12, 2024, 4:04 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: November 12, 2024, 4:04 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Revenue6661,1201,7802,6983,9085,4887,4818,4787,5656,1416,4917,0147,229
Interest4628021,2651,8602,6443,5375,1675,8765,1014,0663,9014,2644,373
Expenses751362133204426937081,7191,2349641,173737644
Financing Profit1301833035188221,2581,6068841,2301,1111,4162,0132,211
Financing Margin %19%16%17%19%21%23%21%10%16%18%22%29%31%
Other Income-0-0-01004715521019
Depreciation13815192431665953515154
Profit before tax1291792945038041,2351,5788251,1871,0631,3671,9722,177
Tax %28%28%34%35%35%32%31%17%22%23%23%23%
Net Profit931301943265248421,0816829258221,0561,5271,701
EPS in Rs12.079.459.9516.7320.5732.9042.0126.3935.7831.7240.7058.8165.47
Dividend Payout %13%15%16%13%19%18%14%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)39.78%49.23%68.04%60.74%60.69%28.38%-36.91%35.63%-11.14%28.47%44.60%
Change in YoY Net Profit Growth (%)0.00%9.45%18.81%-7.31%-0.05%-32.30%-65.30%72.54%-46.77%39.60%16.14%

PNB Housing Finance Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:20%
5 Years:-1%
3 Years:-2%
TTM:5%
Compounded Profit Growth
10 Years:28%
5 Years:7%
3 Years:18%
TTM:32%
Stock Price CAGR
10 Years:%
5 Years:13%
3 Years:32%
1 Year:9%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:10%
Last Year:12%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital5066104127166167167168168169169260
Reserves5688681,4752,0195,4126,4027,2687,7798,6999,63210,78414,673
Borrowings6,69510,10816,48126,01435,49753,77771,85967,73659,39452,96153,62155,017
Other Liabilities3424989761,5111,8852,6734,4563,1913,0722,8882,2312,422
Total Liabilities7,65511,54019,03529,67142,96063,01883,75078,87471,33365,64966,80572,371
Fixed Assets1426405858255102250181150146206
CWIP431842105424315
Investments7776451,5861,6223,2802,4134,4572,0482,0333,4723,1884,345
Other Assets6,86010,86517,39227,98739,62060,34079,18576,57269,11762,02463,46867,804
Total Assets7,65511,54019,03529,67142,96063,01883,75078,87471,33365,64966,80572,371

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-2,901-3,627-6,791-9,664-12,406-15,664-16,6268,9116,5666,216-1,772-4,644
Cash from Investing Activity +-14-15-37-20-17-50-53-625-1,476174-1,193
Cash from Financing Activity +2,9653,6046,8509,80412,32218,46417,888-4,362-8,177-6,7323014,179
Net Cash Flow51-3822120-1012,7511,2094,486-1,606-1,992-1,297-1,659

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow69.00126.00197.00294.00407.00640.00637.00-66.00-58.00912.00-52.00682.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %18%17%15%18%14%14%15%9%11%9%10%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters32.57%32.57%32.57%32.57%32.53%32.52%28.15%28.14%28.13%28.13%28.13%28.11%
FIIs24.30%23.96%23.96%23.24%23.64%24.29%24.77%24.81%24.70%25.00%17.89%20.42%
DIIs2.49%2.33%2.38%3.28%2.98%3.65%7.60%7.72%7.86%6.88%10.95%22.17%
Public40.64%41.14%41.09%40.90%40.85%39.53%39.48%39.32%39.32%39.98%43.04%29.29%
No. of Shareholders1,04,3981,19,1871,20,5921,19,9971,18,1471,08,2691,20,1931,19,6311,24,6561,33,1771,62,9381,58,799

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Equity P/E Fund - Regular Plan2,631,1663.14203.55464,7432024-11-21466.16%
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%2,631,1663.14203.55464,7432024-11-21466.16%
Nippon India Small Cap Fund2,232,8910.42172.74464,7432024-11-21380.46%
Tata Banking and Financial Services Fund815,7093.5363.1464,7432024-11-2175.52%
Tata Flexi Cap Fund753,1212.3258.26464,7432024-11-2162.05%
Tata Multicap Fund682,4442.0152.79464,7432024-11-2146.84%
Baroda BNP Paribas Balanced Advantage Fund475,2501.0536.77464,7432024-11-212.26%
Mahindra Manulife Small Cap Fund464,7431.4135.95464,7432024-11-210%
Mahindra Manulife Multi Cap Fund440,0001.3834.04464,7432024-11-21-5.32%
Bandhan Small Cap Fund346,4610.8326.8464,7432024-11-21-25.45%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)58.3762.0149.6455.2938.45
Diluted EPS (Rs.)58.2061.9549.5355.2638.41
Cash EPS (Rs.)60.0364.9952.7858.7742.34
Book Value[Excl.RevalReserv]/Share (Rs.)576.56652.24585.51530.28475.52
Book Value[Incl.RevalReserv]/Share (Rs.)576.56652.24585.51530.28475.52
Revenue From Operations / Share (Rs.)271.45386.55367.49451.89504.30
PBDIT / Share (Rs.)241.27314.51308.53378.31401.44
PBIT / Share (Rs.)239.30311.47305.36374.80397.52
PBT / Share (Rs.)75.2380.5964.2971.7348.22
Net Profit / Share (Rs.)58.0661.9449.6155.2638.42
NP After MI And SOA / Share (Rs.)58.0661.9449.6155.2638.42
PBDIT Margin (%)88.8881.3683.9583.7179.60
PBIT Margin (%)88.1580.5783.0982.9478.82
PBT Margin (%)27.7120.8417.4915.879.56
Net Profit Margin (%)21.3816.0213.5012.227.61
NP After MI And SOA Margin (%)21.3816.0213.5012.227.61
Return on Networth / Equity (%)10.079.498.4710.428.08
Return on Capital Employeed (%)40.9115.6014.5115.8314.91
Return On Assets (%)2.081.561.271.300.81
Long Term Debt / Equity (X)0.002.042.563.324.43
Total Debt / Equity (X)3.624.875.376.668.47
Asset Turnover Ratio (%)0.100.090.080.100.10
Current Ratio (X)1.262.002.152.242.30
Quick Ratio (X)1.262.002.152.242.30
Interest Coverage Ratio (X)1.471.361.281.251.15
Interest Coverage Ratio (Post Tax) (X)1.351.271.211.181.11
Enterprise Value (Cr.)68014.3558494.4554140.8958725.5261965.57
EV / Net Operating Revenue (X)9.658.968.747.727.31
EV / EBITDA (X)10.8511.0110.419.239.18
MarketCap / Net Operating Revenue (X)2.321.331.030.820.32
Price / BV (X)1.090.780.640.700.34
Price / Net Operating Revenue (X)2.321.331.030.820.32
EarningsYield0.090.120.130.140.23

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of PNB Housing Finance Ltd as of November 23, 2024 is: 906.61

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 23, 2024, PNB Housing Finance Ltd is Undervalued by 6.04% compared to the current share price 855.00

Intrinsic Value of PNB Housing Finance Ltd as of November 23, 2024 is: 1,023.06

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 23, 2024, PNB Housing Finance Ltd is Undervalued by 19.66% compared to the current share price 855.00

Last 5 Year EPS CAGR: 12.84%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in PNB Housing Finance Ltd:
    1. Net Profit Margin: 21.38%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 40.91% (Industry Average ROCE: 11.06%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 10.07% (Industry Average ROE: 13.49%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 1.35
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.26
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 13.1 (Industry average Stock P/E: 12.67)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 3.62
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

PNB Housing Finance Ltd. is a Public Limited Listed company incorporated on 11/11/1988 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L65922DL1988PLC033856 and registration number is 033856. Currently Company is involved in the business activities of Activities of specialized institutions granting credit for house purchases that also take deposits. Company’s Total Operating Revenue is Rs. 6141.09 Cr. and Equity Capital is Rs. 168.60 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Housing9th Floor, Antriksh Bhawan, New Delhi Delhi 110001investor.services@pnbhousing.com
http://www.pnbhousing.com
Management
NamePosition Held
Mr. Girish KousgiManaging Director & CEO
Mr. R ChandrasekaranIndependent Director
Mr. Nilesh S VikamseyIndependent Director
Mr. Atul Kumar GoelNon Exe. & Nominee Director
Mr. Sunil KaulNon Exe. & Nominee Director
Mr. Kapil ModiNon Exe. & Nominee Director
Mr. Dilip Kumar JainNon Exe. & Nominee Director
Dr. T M BhasinIndependent Director
Ms. Gita NayyarIndependent Director
Mr. Sudarshan SenIndependent Director
Mr. Pavan KaushalIndependent Director
Mr. Neeraj VyasNon Exe.Non Ind.Director

FAQ

What is the latest intrinsic value of PNB Housing Finance Ltd?

The latest intrinsic value of PNB Housing Finance Ltd as on 23 November 2024 is ₹906.61, which is 6.04% higher than the current market price of ₹855.00.

What is the Market Cap of PNB Housing Finance Ltd?

The Market Cap of PNB Housing Finance Ltd is 22,249 Cr..

What is the current Stock Price of PNB Housing Finance Ltd as on 23 November 2024?

The current stock price of PNB Housing Finance Ltd as on 23 November 2024 is 855.

What is the High / Low of PNB Housing Finance Ltd stocks in FY 2024?

In FY 2024, the High / Low of PNB Housing Finance Ltd stocks is 1,202/600.

What is the Stock P/E of PNB Housing Finance Ltd?

The Stock P/E of PNB Housing Finance Ltd is 13.1.

What is the Book Value of PNB Housing Finance Ltd?

The Book Value of PNB Housing Finance Ltd is 575.

What is the Dividend Yield of PNB Housing Finance Ltd?

The Dividend Yield of PNB Housing Finance Ltd is 0.00 %.

What is the ROCE of PNB Housing Finance Ltd?

The ROCE of PNB Housing Finance Ltd is 9.27 %.

What is the ROE of PNB Housing Finance Ltd?

The ROE of PNB Housing Finance Ltd is 11.8 %.

What is the Face Value of PNB Housing Finance Ltd?

The Face Value of PNB Housing Finance Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PNB Housing Finance Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE