Price
Financials
Consolidated, Rs crore| Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 29,954 | 34,083 | 39,259 | 35,738 | 30,991 | 38,591 | 31,298 | 35,047 | 23,183 | 43,917 | 41,206 | 44,634 |
| Expenses | 18,715 | 22,219 | 27,172 | 24,212 | 19,875 | 27,228 | 19,562 | 22,373 | 10,997 | 29,749 | 26,127 | 27,719 |
| Operating Profit | 11,238 | 11,864 | 12,087 | 11,526 | 11,115 | 11,362 | 11,735 | 12,673 | 12,187 | 14,168 | 15,080 | 16,915 |
| OPM % | 38% | 35% | 31% | 32% | 36% | 29% | 38% | 36% | 53% | 32% | 37% | 38% |
| Other Income | 1,607 | 1,650 | 1,769 | 1,933 | 1,891 | 2,189 | 2,470 | 2,461 | 2,195 | 2,965 | 3,064 | 2,999 |
| Interest | 7,942 | 7,518 | 6,954 | 6,666 | 6,624 | 6,684 | 6,995 | 6,925 | 7,688 | 8,762 | 9,932 | 10,464 |
| Depreciation | 86 | 89 | 91 | 89 | 87 | 88 | 90 | 153 | 150 | 150 | 152 | 146 |
| Profit before tax | 4,816 | 5,906 | 6,811 | 6,704 | 6,295 | 6,779 | 7,121 | 8,056 | 6,544 | 8,221 | 8,061 | 9,305 |
| Tax % | 16% | 15% | 16% | 15% | 16% | 16% | 13% | 14% | 15% | 14% | 12% | 14% |
| Net Profit | 4,059 | 5,035 | 5,724 | 5,669 | 5,311 | 5,670 | 6,169 | 6,892 | 5,574 | 7,043 | 7,078 | 8,005 |
| EPS in Rs | 20.83 | 25.61 | 28.76 | 29.66 | 27.92 | 29.08 | 32.23 | 35.62 | 29.26 | 36.06 | 36.54 | 41.55 |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 30,276 | 35,948 | 40,753 | 48,316 | 53,223 | 61,034 | 79,474 | 95,694 | 101,726 | 139,034 | 135,926 | 152,940 |
| Expenses | 12,484 | 14,170 | 15,314 | 19,516 | 21,228 | 26,377 | 44,714 | 51,819 | 48,983 | 92,319 | 89,037 | 94,591 |
| Operating Profit | 17,792 | 21,778 | 25,439 | 28,799 | 31,995 | 34,657 | 34,760 | 43,875 | 52,743 | 46,715 | 46,889 | 58,349 |
| OPM % | 59% | 61% | 62% | 60% | 60% | 57% | 44% | 46% | 52% | 34% | 34% | 38% |
| Other Income | 27 | 39 | 61 | 74 | 34 | 53 | 6,282 | 7,891 | 5,816 | 6,959 | 9,012 | 11,223 |
| Interest | 11,552 | 14,296 | 16,608 | 18,710 | 20,296 | 21,953 | 24,718 | 29,525 | 32,109 | 29,081 | 27,230 | 36,845 |
| Depreciation | 51 | 54 | 47 | 47 | 121 | 108 | 116 | 141 | 256 | 355 | 419 | 597 |
| Profit before tax | 6,217 | 7,467 | 8,846 | 10,117 | 11,613 | 12,650 | 16,207 | 22,099 | 26,193 | 24,237 | 28,252 | 32,131 |
| Tax % | 28% | 27% | 27% | 31% | 31% | 32% | 19% | 20% | 13% | 15% | 15% | 14% |
| Net Profit | 5,670 | 6,982 | 8,403 | 9,245 | 10,718 | 11,848 | 13,111 | 17,581 | 22,826 | 20,488 | 24,042 | 27,700 |
| EPS in Rs | 36.98 | 42.94 | 50.93 | 55.65 | 64.50 | 69.56 | 71.48 | 94.29 | 123.75 | 103.89 | 124.63 | 142.60 |
| Dividend Payout % | 30% | 29% | 27% | 27% | 26% | 26% | 28% | 22% | 17% | 22% | 24% | 31% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 16% | 14% | 15% | 13% | ||
| Compounded Profit Growth | 15% | 17% | 7% | 16% | ||
| Stock Price CAGR | 7% | 0% | 0% | % | ||
| Return on Equity | 16% | 15% | 13% | 14% |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 295 | 309 | 312 | 315 | 316 | 318 | 335 | 344 | 346 | 361 | 363 | 367 |
| Reserves | 23,921 | 31,581 | 37,263 | 44,757 | 50,585 | 59,742 | 91,538 | 111,389 | 126,133 | 156,352 | 179,491 | 201,108 |
| Borrowings | 142,479 | 163,663 | 190,602 | 217,357 | 249,418 | 293,795 | 336,416 | 386,755 | 425,368 | 447,011 | 507,460 | 582,265 |
| Other Liabilities | 45,641 | 56,225 | 68,712 | 87,078 | 97,468 | 120,268 | 138,270 | 162,321 | 177,936 | 225,507 | 278,917 | 307,455 |
| Total Liabilities | 212,336 | 251,778 | 296,889 | 349,507 | 397,786 | 474,122 | 566,560 | 660,810 | 729,782 | 829,230 | 966,230 | 1,091,194 |
| Fixed Assets | 842 | 851 | 1,002 | 1,470 | 1,568 | 2,266 | 2,349 | 2,310 | 5,476 | 5,312 | 12,745 | 12,621 |
| CWIP | 7 | 32 | 21 | 9 | 19 | 54 | 23 | 24 | 59 | 47 | 39 | 99 |
| Investments | 48,639 | 59,492 | 72,914 | 93,782 | 104,721 | 132,855 | 172,218 | 210,704 | 243,248 | 302,481 | 352,484 | 408,072 |
| Other Assets | 162,849 | 191,403 | 222,951 | 254,245 | 291,478 | 338,947 | 391,969 | 447,771 | 481,000 | 521,390 | 600,962 | 670,403 |
| Total Assets | 212,336 | 251,778 | 296,889 | 349,507 | 397,786 | 474,122 | 566,560 | 660,810 | 729,782 | 829,230 | 966,230 | 1,091,194 |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -17,534 | -11,969 | -10,735 | -9,118 | -19,710 | -14,173 | -57,928 | -44,301 | -26,801 | -27,276 | -44,028 | -47,328 |
| Cash from Investing Activity | -6,275 | -10,212 | -12,983 | -18,552 | -9,309 | -27,236 | -7,954 | -10,316 | -9,874 | -6,958 | -19,887 | -21,524 |
| Cash from Financing Activity | 23,194 | 23,174 | 25,719 | 24,820 | 29,111 | 43,127 | 63,344 | 54,986 | 38,690 | 31,665 | 63,541 | 69,321 |
| Net Cash Flow | -615 | 992 | 2,000 | -2,850 | 92 | 1,718 | -2,538 | 369 | 2,015 | -2,570 | -374 | 469 |
| Free Cash Flow | -17,668 | -12,102 | -10,959 | -9,679 | -19,847 | -14,391 | -58,137 | -44,482 | -27,153 | -27,429 | -46,158 | -47,608 |
| CFO/OP | -86% | -44% | -31% | -20% | -50% | -29% | -154% | -93% | -43% | -52% | -85% | -73% |
| Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 8 | 2 | 3 | 3 | 3 | 9 | 1 | 2 | 1 | 1 | 1 | 1 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 8 | 2 | 3 | 3 | 3 | 9 | 1 | 2 | 1 | 1 | 1 | 1 |
| Working Capital Days | -651 | -643 | -814 | -800 | -848 | -733 | -790 | -672 | -614 | -582 | -626 | -603 |
| ROCE % | 12% | 12% | 12% | 12% | 11% | 10% | 10% | 11% | 11% | 9% | 8% | 9% |
| Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIIs | 70.00% | 71.95% | 72.78% | 72.22% | 71.95% | 72.14% | 69.19% | 67.75% | 67.77% | 67.22% | 66.20% | 63.59% |
| DIIs | 18.45% | 17.12% | 16.13% | 16.47% | 16.85% | 16.59% | 18.99% | 21.02% | 20.91% | 21.57% | 22.35% | 24.17% |
| Government | 0.22% | 0.22% | 0.22% | 0.14% | 0.14% | 0.14% | 0.14% | 0.14% | 0.13% | 0.13% | 0.13% | 0.13% |
| Public | 11.33% | 10.72% | 10.88% | 11.18% | 11.06% | 11.13% | 11.69% | 11.09% | 11.18% | 11.07% | 11.30% | 12.11% |
| No. of Shareholders | 6,27,655 | 5,31,710 | 5,84,323 | 6,62,818 | 6,28,856 | 6,71,541 | 8,14,283 | 8,81,999 | 8,39,491 | 7,59,232 | 7,45,522 | 7,20,777 |
Fundamentals
Market Cap₹ 5,04,384 Cr.
Current Price₹ 2,724
Stock P/E19.3
Book Value₹ 1,098
ROCE9.21 %
ROE13.7 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)13%
Compounded Profit Growth (TTM)16%
Consolidated figures.
Valuation
Market capRs 102,231 Cr
Enterprise valueRs 681,033 Cr
P/E (TTM)3.91x
Price to book0.51x
Price to sales0.67x
EV / EBITDA9.79x
EV / EBIT9.87x
EV / sales4.45x
Earnings yield25.59%
Dividend yield7.90%
P/E, 3-year average20.55x
P/B, 3-year average2.56x
P/E, 5-year average19.14x
P/B, 5-year average2.59x
Profitability
Operating margin (excl. other income)38.15%
Operating margin (incl. other income)45.49%
EBITDA margin45.49%
Pre-tax margin21.01%
Net profit margin17.11%
Net margin, latest quarter17.08%
ROE13.72%
ROCE9.38%
ROA2.54%
ROE, 3-year average13.46%
ROCE, 3-year average9.07%
ROA, 3-year average2.49%
ROE, 5-year average14.86%
ROCE, 5-year average9.89%
ROA, 5-year average2.64%
ROIC (approx.)7.62%
Tax rate13.79%
Other income / net worth5.57%
Growth
Sales growth (latest year)12.52%
Profit growth (latest year)15.78%
Sales CAGR, 3 years14.56%
Sales CAGR, 5 years13.99%
Profit CAGR, 3 years6.87%
Profit CAGR, 5 years16.91%
Sales growth QoQ8.32%
Profit growth QoQ14.21%
Sales growth YoY (latest quarter)27.36%
Profit growth YoY (latest quarter)18.04%
Per share
EPS (TTM)Rs 142.60
EPS (latest year)Rs 142.60
EPS (latest quarter)Rs 41.56
EPS, 3-year averageRs 123.70
EPS, 5-year averageRs 117.83
Book value per shareRs 1,098.22
Sales per shareRs 833.66
Cash flow per shareRs -257.98
Free cash flow per shareRs -259.51
Dividend per share (latest year)Rs 44.00
Dividend per share, 3-year averageRs 32.33
Dividend per share, 5-year averageRs 27.80
Dividends
Dividend payout30.86%
Dividend payout, 3-year average25.69%
Dividend payout, 5-year average23.26%
Efficiency
Asset turnover0.14x
Fixed asset turnover12.12x
Debtor days1 days
Debtors turnover454.34x
Cash conversion cycle1 days
Working capital days-603 days
Leverage
Total debtRs 582,265 Cr
Cash and bankRs 3,463 Cr
Net debtRs 578,802 Cr
Debt to equity2.89x
Net debt / EBITDA8.32x
Interest coverage1.87x
Owners' fund to total sources18.46%
Debt to assets53.36%
Cash flow
Cash from Operating Activity (latest year)Rs -47,328 Cr
Cash from Investing Activity (latest year)Rs -21,524 Cr
Cash from Financing Activity (latest year)Rs 69,321 Cr
Net Cash Flow (latest year)Rs 469 Cr
Free cash flow (latest year)Rs -47,608 Cr
FCFE (approx.: FCF + change in debt)Rs 27,197 Cr
Cash from ops / profit, 5 years-1.68x
Statement figures
Net sales (TTM)Rs 152,940 Cr
Net sales (latest year)Rs 152,940 Cr
Sales (latest quarter)Rs 44,634 Cr
Operating profit excl. other income (latest year)Rs 58,349 Cr
Operating profit (latest quarter)Rs 16,915 Cr
Other income (TTM)Rs 11,223 Cr
EBITDA (TTM)Rs 69,572 Cr
PBDT (TTM)Rs 32,727 Cr
Profit before tax (TTM)Rs 32,131 Cr
Tax (latest year)Rs 4,431 Cr
Net profit (TTM)Rs 26,161 Cr
Net profit (latest year)Rs 26,161 Cr
Net profit (latest quarter)Rs 7,624 Cr
Depreciation (TTM)Rs 597 Cr
Depreciation (latest quarter)Rs 146 Cr
Interest (TTM)Rs 36,845 Cr
Cost of goods sold (latest year)Rs 89,532 Cr
Total expenditure (latest year)Rs 94,591 Cr
Total income (latest year)Rs 164,163 Cr
Share capitalRs 367 Cr
ReservesRs 201,108 Cr
Shareholders' fundsRs 201,474 Cr
Total assetsRs 1,091,194 Cr
Net blockRs 12,621 Cr
Capital work in progressRs 99 Cr
InvestmentsRs 408,072 Cr
ReceivablesRs 337 Cr
Other liabilitiesRs 307,455 Cr
Shares outstanding (crore)183.46
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 19.1 is at the 15th percentile of its own 6.8-year range
(median 24.0, low 14.9, high 33.4).
P/B 2.48 is at the 4th percentile (median 3.51).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | HDFC | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.6% | -2.8% | +0.2 pts |
| 1 month | +3.2% | -6.8% | +10.0 pts |
| 3 months | -0.6% | -7.6% | +7.0 pts |
| 6 months | +3.9% | +0.4% | +3.5 pts |
| 1 year | +21.3% | -9.9% | +31.2 pts |
| 2 years | +9.1% | -13.6% | +22.7 pts |
| 3 years | +44.4% | +14.2% | +30.3 pts |
| 5 years | +38.8% | +27.9% | +10.9 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -176% of net profit over the last 3 years |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2023Sales ₹44,634 Cr +27.4% vs Mar 2022.
Net profit ₹8,005 Cr +16.1%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Bajaj Housing Finance Ltd | 67,709 | 25.0 | 8.85 % |
| Piramal Finance Ltd | 50,343 | 112 | 6.47 % |
| LIC Housing Finance Ltd | 30,171 | 5.26 | 8.59 % |
| PNB Housing Finance Ltd | 28,641 | 12.2 | 9.44 % |
| Aadhar Housing Finance Ltd | 18,960 | 16.4 | 11.4 % |
| Sammaan Capital Ltd | 15,853 | 4.92 % | |
| Aptus Value Housing Finance India Ltd | 11,686 | 11.9 | 15.4 % |
| Home First Finance Company India Ltd | 11,443 | 19.7 | 11.1 % |
| AAVAS Financiers Ltd | 9,899 | 14.4 | 9.92 % |
| Can Fin Homes Ltd | 9,743 | 8.62 | 9.14 % |
| India Shelter Finance Corporation Ltd | 6,986 | 13.2 | 12.9 % |
| Repco Home Finance Ltd | 2,161 | 4.49 | 10.1 % |
| GIC Housing Finance Ltd | 723 | 4.60 | 7.71 % |
| SRG Housing Finance Ltd | 221 | 6.46 | 11.8 % |
| Reliance Home Finance Ltd | 76 | -432 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2023-05-16 | Interim Dividend - Rs 44 Per Share | |
| 2022-05-31 | Dividend - Rs 30 Per Share | |
| 2021-05-31 | Dividend - Rs 23 Per Sh | |
| 2020-07-09 | Annual General Meeting/Dividend - Rs 21 Per Share | |
| 2019-07-19 | Annual General Meeting/Dividend - Rs 17.50 Per Share | |
| 2019-03-15 | Interim Dividend - Rs 3.50 Per Share | |
| 2018-07-19 | Dividend- Rs 16.50 Per Share | |
| 2018-03-22 | Interim Dividend Rs 3.50 Per Share (Purpose Revised) | |
| 2017-07-14 | Dividend - Rs 15/- Per Share | |
| 2017-03-09 | Interim Dividend Rs 3/- Per Share (Purpose Revised) | |
| 2016-07-15 | Annual General Meeting/ Dividend - Rs 14/- Per Share | |
| 2016-03-30 | Interim Dividend - Rs 3/- Per Share (Purpose Revised) | |
| 2015-07-15 | Annual General Meeting/ Dividend - Rs 13/- Per Share | |
| 2015-03-25 | Interim Dividend - Rs 2/- Per Share (Purpose Revised) | |
| 2014-07-04 | Annual General Meeting / Dividend - Rs 14/- Per Share | |
| 2013-06-27 | Annual General Meeting/Dividend Rs 12.50 Per Equity Share | |
| 2012-06-22 | Annual General Meeting And Dividend - Rs.11/- Per Share | |
| 2011-06-22 | Dividend-Rs.9/- Per Share | |
| 2010-08-18 | Face Value Split From Rs.10/- To Rs.2/- | 0.2000 |
| 2010-06-29 | Dividend Rs 36 Per Share | |
| 2009-07-06 | Agm/Div-Rs.30/- Per Share | |
| 2008-06-27 | Agm/Div-Rs.25 Per Share | |
| 2007-06-12 | Agm/Div - Rs. 22 Per Sh | |
| 2006-06-30 | Agm/Div-Rs.20/- Per Sh |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Housing Development Finance CorporationLtd(Merged)?
Housing Development Finance CorporationLtd(Merged) (HDFC) has a market capitalisation of Rs 5,04,384 Cr. at the 2023-07-12 close.
What is the P/E ratio of Housing Development Finance CorporationLtd(Merged)?
Housing Development Finance CorporationLtd(Merged) trades at a P/E of 19.3 on trailing twelve-month profit, at the 2023-07-12 close.
What were Housing Development Finance CorporationLtd(Merged)'s latest quarterly results?
In the Mar 2023 quarter, Housing Development Finance CorporationLtd(Merged) sales was Rs 44,634 Cr (+27.4% vs Mar 2022) and net profit was Rs 8,005 Cr.