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Last Updated on: 22 December, 2024
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 532868 | NSE: DLF

DLF Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:38 am

Market Cap 2,05,624 Cr.
Current Price 831
High / Low 968/687
Stock P/E57.1
Book Value 163
Dividend Yield0.60 %
ROCE5.74 %
ROE6.95 %
Face Value 2.00
PEG Ratio0.81

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

View Share Price Target for

Competitors of

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hampton Sky Realty Ltd 871 Cr. 31.8 55.5/22.433.9 5.740.00 %15.7 %10.6 % 1.00
Grovy India Ltd 76.0 Cr. 57.0 98.2/22.6 14.00.04 %5.79 %5.27 % 10.0
Gothi Plascon (India) Ltd 39.5 Cr. 38.7 53.9/31.030.2 12.45.16 %17.8 %12.9 % 10.0
Generic Engineering Construction & Projects Ltd 260 Cr. 45.7 71.0/32.623.8 48.50.00 %6.61 %4.33 % 5.00
Garnet Construction Ltd 52.8 Cr. 38.0 57.2/20.57.94 73.30.00 %4.51 %3.13 % 10.0
Industry Average22,150.84 Cr582.2250.95136.720.46%10.29%8.69%6.13

All Competitor Stocks of

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales1,7131,1401,4811,5501,5471,4421,3021,4951,4561,4231,3481,5212,135
Expenses1,2597441,0231,0281,1801,0288661,0181,0581,0278851,0101,381
Operating Profit454395458521368414437477398396462511754
OPM %26%35%31%34%24%29%34%32%27%28%34%34%35%
Other Income19410376-8710575586512098129122182
Interest191175176146128105107958585908498
Depreciation38383737373737393636373837
Profit before tax418285321251307346351408397373464512802
Tax %38%29%29%24%27%25%26%27%28%27%24%26%21%
Net Profit477337378379406469477518570526622656920
EPS in Rs1.941.361.531.531.641.901.932.102.302.132.522.653.72

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales7,7738,2987,6499,9268,2216,7078,3666,0835,4145,7175,6956,427
Expenses5,1405,8054,6355,9604,7754,3296,2184,9373,9453,9743,9694,303
Operating Profit2,6332,4933,0143,9663,4462,3782,1481,1461,4691,7431,7262,124
OPM %34%30%39%40%42%35%26%19%27%30%30%33%
Other Income1,2791,1335035061,1359,7227841,135383195317531
Interest2,3142,4632,3042,6802,9802,9512,0621,427853625392356
Depreciation796663545766572534225200159149149148
Profit before tax8025006681,0261,0308,6156466538401,1651,5022,151
Tax %17%-16%24%55%22%50%43%326%43%28%27%24%
Net Profit6675905073057084,4771,314-5901,0831,5002,0342,724
EPS in Rs4.193.633.031.724.0125.025.98-2.364.426.068.2211.02
Dividend Payout %48%55%66%117%50%8%33%-85%45%49%49%45%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-11.54%-14.07%-39.84%132.13%532.34%-70.65%-144.90%283.56%38.50%35.60%33.92%
Change in YoY Net Profit Growth (%)0.00%-2.52%-25.77%171.97%400.21%-602.99%-74.25%428.46%-245.06%-2.90%-1.68%

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:-3%
5 Years:-5%
3 Years:6%
TTM:22%
Compounded Profit Growth
10 Years:20%
5 Years:17%
3 Years:33%
TTM:61%
Stock Price CAGR
10 Years:20%
5 Years:29%
3 Years:29%
1 Year:16%
Return on Equity
10 Years:3%
5 Years:4%
3 Years:6%
Last Year:7%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:44 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital340356356357357357441495495495495495495
Reserves25,38927,03927,01323,71224,21634,95433,13533,95234,84935,86737,19238,93639,732
Borrowings26,60024,13324,49525,26429,20217,49117,2228,1036,8864,1823,3344,8344,290
Other Liabilities12,31812,99714,39812,39610,1797,78315,68413,34111,25810,62311,55114,80418,062
Total Liabilities64,64764,52566,26261,72963,95460,58566,48355,89053,48851,16752,57259,06962,579
Fixed Assets19,84918,83519,6193,94324,6408,0826,3225,1874,8564,8624,7853,8803,836
CWIP7,8345,9795,9011,779153137103899581617173
Investments1,33489162321,3101,20920,83221,00518,56619,74619,77919,48120,13820,900
Other Assets35,63038,82040,11934,69737,95231,53339,05332,04928,79126,44428,24534,98137,770
Total Assets64,64764,52566,26261,72963,95460,58566,48355,89053,48851,16752,57259,06962,579

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +2,0091,4682,0372,957-8982702,0433561,4602,8322,3752,539
Cash from Investing Activity +1,9953,92498-818872-2,10236,508150267-461-1,529
Cash from Financing Activity +-3,951-4,532-1,547-1,929787-232875-9,522-2,184-3,828-2,013177
Net Cash Flow52860588210761-2,0642,921-2,658-573-729-981,186

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-24.00-22.00-21.00-22.00-26.00-15.00-15.00-7.00-5.00-3.00-2.00-2.00

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
Debtor Days7869761266370364339363531
Inventory Days
Days Payable
Cash Conversion Cycle7869761266370364339363531
Working Capital Days6616708323896859745327591,016913874868
ROCE %4%5%6%8%7%5%5%4%4%5%5%6%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.08%74.08%74.08%74.08%
FIIs17.00%16.46%15.39%14.93%14.90%14.84%14.66%15.30%15.89%15.75%16.53%16.17%
DIIs3.00%3.42%4.10%4.56%4.80%5.09%5.23%4.87%5.27%5.47%4.77%4.81%
Public5.05%5.17%5.56%5.56%5.36%5.12%5.16%4.88%4.76%4.72%4.62%4.95%
No. of Shareholders3,54,8623,84,5474,34,8714,42,8814,25,9594,07,4444,22,1524,06,2803,95,8454,04,8324,26,2534,66,987

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Blue Chip Fund9,000,0001.59734.095,902,0502024-12-2052.49%
ICICI Prudential Bluechip Fund8,280,0051.22675.365,902,0502024-12-2040.29%
SBI Balanced Advantage Fund5,902,0501.6481.45,902,0502024-12-200%
Kotak Equity Arbitrage Fund - Regular Plan5,757,6751.01469.625,902,0502024-12-20-2.45%
Aditya Birla Sun Life Frontline Equity Fund4,551,4671.36371.245,902,0502024-12-20-22.88%
Axis Focused Fund2,940,0441.8239.85,902,0502024-12-20-50.19%
Axis Bluechip Fund2,499,1770.62203.855,902,0502024-12-20-57.66%
UTI Nifty200 Momentum 30 Index Fund2,396,1623.11195.445,902,0502024-12-20-59.4%
SBI Arbitrage Opportunities Fund2,236,5750.59182.435,902,0502024-12-20-62.11%
ICICI Prudential Business Cycle Fund1,946,4451.64158.765,902,0502024-12-20-67.02%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)11.028.226.064.42-2.41
Diluted EPS (Rs.)11.028.226.064.42-2.41
Cash EPS (Rs.)7.185.054.012.57-5.17
Book Value[Excl.RevalReserv]/Share (Rs.)159.30152.27146.98142.87139.23
Book Value[Incl.RevalReserv]/Share (Rs.)159.30152.27146.98142.87139.23
Revenue From Operations / Share (Rs.)25.9623.0123.1021.8724.57
PBDIT / Share (Rs.)10.738.258.747.877.84
PBIT / Share (Rs.)10.137.658.137.237.03
PBT / Share (Rs.)8.696.074.703.392.64
Net Profit / Share (Rs.)6.594.453.411.93-5.98
NP After MI And SOA / Share (Rs.)11.028.226.064.42-2.36
PBDIT Margin (%)41.3035.8737.8335.9931.89
PBIT Margin (%)39.0033.2635.2133.0428.60
PBT Margin (%)33.4626.3820.3615.5010.74
Net Profit Margin (%)25.3619.3314.758.81-24.31
NP After MI And SOA Margin (%)42.4335.7426.2520.19-9.58
Return on Networth / Equity (%)6.915.404.123.09-1.69
Return on Capital Employeed (%)5.434.434.784.254.19
Return On Assets (%)4.523.772.851.99-1.01
Long Term Debt / Equity (X)0.060.020.060.090.11
Total Debt / Equity (X)0.110.080.100.150.18
Asset Turnover Ratio (%)0.110.080.080.080.04
Current Ratio (X)2.302.302.322.081.83
Quick Ratio (X)0.800.570.380.430.40
Dividend Payout Ratio (NP) (%)36.3036.4732.9818.10-135.81
Dividend Payout Ratio (CP) (%)34.4333.9929.9915.80-206.87
Earning Retention Ratio (%)63.7063.5367.0281.90235.81
Cash Earning Retention Ratio (%)65.5766.0170.0184.20306.87
Interest Coverage Ratio (X)7.455.213.462.281.36
Interest Coverage Ratio (Post Tax) (X)5.573.812.711.67-0.27
Enterprise Value (Cr.)222572.4089201.3597221.0775306.9237963.00
EV / Net Operating Revenue (X)34.6315.6617.0013.916.24
EV / EBITDA (X)83.8343.6644.9538.6519.56
MarketCap / Net Operating Revenue (X)34.6015.5216.4713.125.60
Retention Ratios (%)63.6963.5267.0181.89235.81
Price / BV (X)5.642.342.592.010.98
Price / Net Operating Revenue (X)34.6015.5216.4713.125.60
EarningsYield0.010.020.010.01-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 650.74

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 December 22, 2024, is Overvalued by 21.69% compared to the current share price 831.00

Intrinsic Value of as of December 22, 2024 is: 1,109.07

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 December 22, 2024, is Undervalued by 33.46% compared to the current share price 831.00

Last 5 Year EPS CAGR: 70.43%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (31,998.92 cr) compared to borrowings (15,079.69 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (6.67 cr) and profit (343.58 cr) over the years.
  1. The stock has a low average ROCE of 5.33%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 679.83, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 58.50, which may not be favorable.
  • 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 :
    1. Net Profit Margin: 25.36%
      • 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: 5.43% (Industry Average ROCE: 9.97%)
      • 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%: 6.91% (Industry Average ROE: 8.15%)
      • 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): 5.57
      • 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: 0.8
      • 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: 57.1 (Industry average Stock P/E: 42.99)
      • 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: 0.11
      • 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

DLF Ltd. is a Public Limited Listed company incorporated on 04/07/1963 and has its registered office in the State of Haryana, India. Company’s Corporate Identification Number(CIN) is L70101HR1963PLC002484 and registration number is 002484. Currently Company is involved in the business activities of Real estate activities with own or leased property. Company’s Total Operating Revenue is Rs. 4053.55 Cr. and Equity Capital is Rs. 495.06 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
RealtyShopping Mall, 3rd Floor, Gurgaon Haryana 122002investor-relations@dlf.in
http://www.dlf.in
Management
NamePosition Held
Dr. K P SinghChairman Emeritus
Mr. Rajiv SinghChairman
Mr. Ashok Kumar TyagiManaging Director & CFO
Mr. Devinder SinghManaging Director
Ms. Pia SinghNon Exe.Non Ind.Director
Ms. Savitri Devi SinghNon Exe.Non Ind.Director
Ms. Anushka SinghNon Exe.Non Ind.Director
Mr. A S MinochaLead Independent Director
Lt. Gen. (Retd.) Aditya SinghIndependent Director
Mr. Vivek MehraIndependent Director
Ms. Priya PaulIndependent Director
Dr. Umesh Kumar ChaudharyIndependent Director
Lt. Gen. (Retd.) Ajai SinghIndependent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹650.74, which is 21.69% lower than the current market price of ₹831.00. The stock has a market capitalization of 2,05,624 Cr. and recorded a high/low of 968/687 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹39,732 Cr and total liabilities of ₹62,579 Cr.

What is the Market Cap of ?

The Market Cap of is 2,05,624 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 831.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 968/687.

What is the Stock P/E of ?

The Stock P/E of is 57.1.

What is the Book Value of ?

The Book Value of is 163.

What is the Dividend Yield of ?

The Dividend Yield of is 0.60 %.

What is the ROCE of ?

The ROCE of is 5.74 %.

What is the ROE of ?

The ROE of is 6.95 %.

What is the Face Value of ?

The Face Value of is 2.00.

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 . 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