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Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PNB Housing Finance Ltd

Basic Stock Data

Last Updated: June 22, 2024, 10:28 pm

Market Cap 20,349 Cr.
Current Price 784
High / Low914/559
Stock P/E13.3
Book Value 575
Dividend Yield0.00 %
ROCE9.27 %
ROE11.8 %
Face Value 10.0
PEG Ratio0.77

Competitors of PNB Housing Finance Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Indiabulls Housing Finance Ltd 10,568 Cr. 174209/1018.73 2680.72 %10.1 %6.55 % 2.00
GIC Housing Finance Ltd 1,335 Cr. 248292/1748.83 3401.82 %8.59 %8.57 % 10.0
Can Fin Homes Ltd 11,463 Cr. 861910/68015.3 3260.70 %9.25 %18.8 % 2.00
Aptus Value Housing Finance India Ltd 16,870 Cr. 338392/24127.6 75.51.33 %14.7 %17.2 % 2.00
LIC Housing Finance Ltd 40,245 Cr. 732735/3818.45 5721.16 %%16.2 % 2.00
Industry Average10,527.00 Cr367.6010.84261.450.86%10.57%11.80%5.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue1,8131,6751,5691,4821,4141,4041,6721,7871,6271,6991,7661,7481,801
Interest1,1511,1031,0349989319309649971,0081,0481,0581,0871,070
Expenses476255239224247149356409261187190206156
Financing Profit187318296260237325352381358464519455575
Financing Margin %10%19%19%18%17%23%21%21%22%27%29%26%32%
Other Income213001-1010235
Depreciation14131313141313131313111314
Profit before tax175306286248223313338369346451509445566
Tax %26%23%18%26%24%24%22%26%18%22%24%22%22%
Net Profit130235233184170238263272283353384347444
EPS in Rs5.039.079.007.096.569.1910.1410.5010.9013.5914.8113.3417.09
Gross NPA %4.44%6.00%5.92%7.64%7.61%6.35%6.05%4.86%3.83%3.76%1.78%1.73%1.50%
Net NPA %2.43%3.61%3.32%4.87%4.49%4.26%3.59%3.22%2.76%2.58%1.19%1.14%0.95%

Last Updated: June 11, 2024, 1:38 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 26, 2024, 11:46 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Revenue6661,1201,7802,6983,9085,4887,4818,4787,5656,1416,4917,014
Interest4628021,2651,8602,6443,5375,1675,8765,1014,0663,9014,262
Expenses751362133204426937081,7191,2349641,173739
Financing Profit1301833035188221,2581,6068841,2301,1111,4162,012
Financing Margin %19%16%17%19%21%23%21%10%16%18%22%29%
Other Income-0-0-010047155210
Depreciation138151924316659535151
Profit before tax1291792945038041,2351,5788251,1871,0631,3671,972
Tax %28%28%34%35%35%32%31%17%22%23%23%23%
Net Profit931301943265248421,0816829258221,0561,527
EPS in Rs12.079.459.9516.7320.5732.9042.0126.3935.7831.7240.7058.81
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%

Growth

Compounded Sales Growth
10 Years:20%
5 Years:-1%
3 Years:-2%
TTM:8%
Compounded Profit Growth
10 Years:28%
5 Years:7%
3 Years:18%
TTM:45%
Stock Price CAGR
10 Years:%
5 Years:7%
3 Years:38%
1 Year:61%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:10%
Last Year:12%

Last Updated: May 1, 2024, 9:09 am

PNB Housing Finance Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital305066104127166167167168168169169260
Reserves3705688681,4752,0195,4126,4027,2687,7798,6999,63210,78413,895
Borrowings3,8606,69510,10816,48126,01435,49753,77771,85967,73659,39452,96153,62153,534
Other Liabilities1773424989761,5111,8852,6734,4563,1913,0722,8882,2312,583
Total Liabilities4,4367,65511,54019,03529,67142,96063,01883,75078,87471,33365,64966,80570,272
Fixed Assets51426405858255102250181150146147
CWIP143184210542430
Investments3787776451,5861,6223,2802,4134,4572,0482,0333,4723,1884,163
Other Assets4,0536,86010,86517,39227,98739,62060,34079,18576,57269,11762,02463,46865,961
Total Assets4,4367,65511,54019,03529,67142,96063,01883,75078,87471,33365,64966,80570,272

Reserves and Borrowings Chart

PNB Housing Finance Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -728-2,901-3,627-6,791-9,664-12,406-15,664-16,6268,9116,5666,216-1,772
Cash from Investing Activity -3-14-15-37-20-17-50-53-625-1,476174
Cash from Financing Activity 7152,9653,6046,8509,80412,32218,46417,888-4,362-8,177-6,732301
Net Cash Flow-1651-3822120-1012,7511,2094,486-1,606-1,992-1,297

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow69.00126.00197.00294.00407.00640.00637.00-66.00-58.00912.00-52.00684.00

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

PNB Housing Finance Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
ROE %21%18%17%15%18%14%14%15%9%11%9%10%

Financial Efficiency Indicators Chart

PNB Housing Finance Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters32.65%32.64%32.59%32.58%32.57%32.57%32.57%32.57%32.53%32.52%28.15%28.14%
FIIs24.55%24.51%25.86%25.95%24.30%23.96%23.96%23.24%23.64%24.29%24.77%24.81%
DIIs3.46%3.31%2.95%3.11%2.49%2.33%2.38%3.28%2.98%3.65%7.60%7.72%
Public39.34%39.55%38.60%38.37%40.64%41.14%41.09%40.90%40.85%39.53%39.48%39.32%
No. of Shareholders1,03,7531,05,9021,05,3251,01,9471,04,3981,19,1871,20,5921,19,9971,18,1471,08,2691,20,1931,19,631

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 Plan2,631,1663.14203.55682,4442024-06-22285.55%
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%2,631,1663.14203.55682,4442024-06-22285.55%
Nippon India Small Cap Fund2,232,8910.42172.74682,4442024-06-22227.19%
Tata Banking and Financial Services Fund815,7093.5363.1682,4442024-06-2219.53%
Tata Flexi Cap Fund753,1212.3258.26682,4442024-06-2210.36%
Tata Multicap Fund682,4442.0152.79682,4442024-06-220%
Baroda BNP Paribas Balanced Advantage Fund475,2501.0536.77682,4442024-06-22-30.36%
Mahindra Manulife Small Cap Fund464,7431.4135.95682,4442024-06-22-31.9%
Mahindra Manulife Multi Cap Fund440,0001.3834.04682,4442024-06-22-35.53%
Bandhan Small Cap Fund346,4610.8326.8682,4442024-06-22-49.23%

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: 920.45

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.

Undervalued: 17.40% compared to the current price 784

Intrinsic Value: 1,080.45

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 37.81% compared to the current price ₹784

Last 5 Year EPS CAGR: 17.38%

*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: 9.03%)
      • 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: 8.62%)
      • 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: 13.3 (Industry average Stock P/E: 7.79)
      • 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

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 fair value of PNB Housing Finance Ltd?

The latest fair value of PNB Housing Finance Ltd is ₹920.45.

What is the Market Cap of PNB Housing Finance Ltd?

The Market Cap of PNB Housing Finance Ltd is 20,349 Cr..

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

The current stock price of PNB Housing Finance Ltd as on 23 June 2024 is ₹784.

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 914/559.

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

The Stock P/E of PNB Housing Finance Ltd is 13.3.

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