GIC Housing Finance Ltd - Stock Valuation and Financial Performance

BSE: 511676 | NSE: GICHSGFIN | Finance - Housing | Small Cap

GIC Housing Fin Share Price

201.50 -0.15 -0.07%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on GIC Housing Fin

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

GIC Housing Finance stock performance -

mw4me loader
P/E Ratio (SA):
7.24
Market Cap:
1,084.6 Cr.
52-wk low:
144.7
52-wk high:
292.5

Is GIC Housing Finance Ltd an attractive stock to invest in?

1. Is GIC Housing Finance Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that GIC Housing Finance Ltd is a average quality company.

2. Is GIC Housing Finance Ltd undervalued or overvalued?

The key valuation ratios of GIC Housing Finance Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is GIC Housing Finance Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GIC Housing Finance Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of GIC Housing Fin:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GIC Housing Finance Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Operating Income (₹ Cr.)6247318741,0001,1101,2251,2471,2311,1501,1151,066
YoY Gr. Rt. %-17.2%19.6%14.4%11%10.4%1.9%-1.4%-6.6%-3%-
Adj EPS (₹ ) 18.119.123.127.438.231.98.519.632.239.627.8
YoY Gr. Rt. %-5.5%20.9%18.6%39.2%-16.4%-73.5%131.4%64.4%22.8%-
BVPS (₹ )113.4122.6135.9155.7207.7232.9234.6252.1280.6315.6329.2
YoY Gr. Rt. %-8.2%10.8%14.5%33.4%12.1%0.7%7.5%11.3%12.5%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)1.91.71.71.721.40.40.81.41.90

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Net Interest Income6.7%0.1%-3.7%-3%
Adj EPS9.1%0.7%67.2%22.8%
BVPS12.1%8.7%10.4%12.5%
Share Price 6.6% -5.7% 20.3% 30.7%

Key Financial Ratios

RATIOS \ YEARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Asset Quality Ratio To view Asset Quality Ratio Colour Rating Guide click here
Net NPA to Net Advances (%)0000.3000000-
Capitalization Ratio To view Capitalization Ratio Colour Rating Guide click here
Capital Adequacy Ratio (%) 17.315.417.416.6000000-
Margins
Net Profit Margin (%)15.614.114.214.818.5143.78.615.119.114.1
Performance Ratios To view Performance Ratios Colour Rating Guide click here
Return on Equity (%)16.816.217.918.82114.53.68.112.113.38.5

Recent Performance Summary

Net Profit has increased 67.20 CAGR in last 3 years

Return on Equity has declined versus last 3 years average to 8.60%

Total Income has declined -4.12 CAGR in last 3 years

Total income growth is poor in last 4 quarters

Latest Financials - GIC Housing Finance Ltd.

Standalone Consolidated
TTM EPS (₹) 27.8 27.9
TTM Sales (₹ Cr.) 1,066 1,066
BVPS (₹.) 329.2 329.3
Reserves (₹ Cr.) 1,719 1,719
P/BV 0.61 0.61
PE 7.24 7.23
From the Market
52 Week Low / High (₹) 144.70 / 292.45
All Time Low / High (₹) 4.79 / 623.20
Market Cap (₹ Cr.) 1,085
Equity (₹ Cr.) 53.9
Face Value (₹) 10
Industry PE 8.7

Management X-Ray of GIC Housing Fin:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of GIC Housing Fin

Adj EPS (Rs.)

Total Income (Cr.)

ROE (%)

BVPS (Rs.)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Income6257338761,0021,1121,2281,2551,2401,1561,274
Interest Income6247318741,0001,1101,2251,2471,2311,1501,115
Other Income 122223797159
Expenditure 4925796857758389811,1431,105926984
Interest Expense 419509601668713866946823702703
Operating Expenses 445565695971928891113
Provisions 291519376644105194134168
Exceptional Items 0000000000
Profit Before Tax 133154191227274247112135230290
Taxes 36516779697567295777
Profit After Tax 9810312514820617246106174213
Adjusted EPS (₹)18.119.123.127.438.231.98.519.632.239.6
Dividend Payout Ratio (%)33%26%22%18%14%17%24%20%14%11%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Equity Capital6106607328381,1181,2541,2631,3581,5111,699
Share Capital 54545454545454545454
Reserves 5576066787841,0641,2001,2091,3041,4571,645
Minority Interest0000000000
Long Term Borrowings3,7594,5235,7176,7669,43710,30410,9169,8619,6898,726
Current Liabilities 1,0891,5001,5611,8009321,2918231,302602410
Trade Payables55766121791310
Short term borrowings4686456198978931,2417481,244543348
Other Liabilities-473-649-625-903-899-1,252-765-1,253-556-358
Total Liabilities 5,4586,6838,0109,40411,48712,84913,00212,52111,80210,835

Assets

Non Current Asset 5,0986,3297,6008,93411,42312,79212,88112,40511,27510,502
Loan Asset 5,0586,2987,5708,88510,93512,75512,82212,33111,19810,321
Other Non Current Asset 4031304948837597377181
Current Asset 3603544104706357121116527333
Current Investment000000000155
Other Current Asset3603544104706357121116527178
Total Assets 5,4586,6838,0109,40411,48712,84913,00212,52111,80210,835

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -662-1,103-1,167-1,178-1,721-1,645225481,2861,044
Cash Flow From Investing Activity 012-1621-11-14-4-213
Cash Flow From Financing Activity 6471,1051,1741,2031,7151,63951-558-892-1,238
Net Cash Flow -143910-5-562-24390-407
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Operational & Financial Ratios

EPS (₹)1819232738328203240
DPS (₹)6555662455
BVPS (₹)113123136156208233235252281316

Performance Ratios

ROA (%)1.91.71.71.72.01.40.40.81.41.9
ROE (%)16.816.217.918.821.014.53.68.112.113.3
ROCE (%)11.311.311.210.79.89.38.27.57.68.8

Valuation Parameters

Price/Book(x)1.01.81.82.31.81.20.30.50.50.5

GIC Housing Finance Ltd Stock News

GIC Housing Finance Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GIC Housing Fin on 28-Mar-2024 16:01 is ₹201.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of GIC Housing Fin stood at ₹1,084.6.
The latest P/E ratio of GIC Housing Fin as of 28-Mar-2024 16:01 is 7.24.
The latest P/B ratio of GIC Housing Fin as of 28-Mar-2024 16:01 is 0.61.
The 52-week high of GIC Housing Fin is ₹292.4 and the 52-week low is ₹144.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GIC Housing Fin is ₹1,066 ( Cr.) .

About GIC Housing Finance Ltd

GIC Housing Finance was incorporated as 'GIC Grih Vitta Limited' on December 12, 1989. The name was changed to its present name vide a fresh Certificate of Incorporation issued on November 16, 1993.

The company offers loans on fixed and floating basis. Apart from this, it is having Flexi- Fixed, Step Up/ Step Down schemes and mortgage loans.

The company was promoted by General Insurance Corporation of India and its erstwhile subsidiaries namely, National Insurance Company Limited, The New India Assurance Company Limited, The Oriental Insurance Company Limited and United India Insurance Company Limited together with UTI, ICICI, IFCI, HDFC and SBI, all of them contributing to the initial share capital.

The company was formed with the objective of entering in the field of direct lending to individuals and other corporates to accelerate the housing activities in India. The primary business of GICHFL is granting housing loans to individuals and to persons/entities engaged in construction of houses/flats for residential purposes.

The company carried a vision for the future of housing in India. And it is always believed at GICHFL that its success and growth depends on its principles which are ;

  • To be a prominent corporate citizen in promoting housing activities through customer friendly finance schemes with in a service oriented atmosphere.
  • To consolidate and grow in a competitive environment reflecting the ethical standard of a good corporate citizen.
  • To create wealth and reward shareholders

Housing being the one of the essential needs of mankind, the demand for shelter grows in line with the increase in population and the standard of living, hence the need of financing the purchasing of a House came up. The importance of the housing sector can be judged by the fact that they consider house as the best investment and want to invest their hard earned money or saving in a house. The need for finance to purchase a house brought out specialized housing finance institutions. Housing finance companies (HFCs) as they are called today, have stepped up their lending over the years contributing to the growth of the housing sector. Their strength lies in their skills in lending exclusively for housing sector. Such is the background of GIC Housing Finance Ltd (GICHFL).

GICHFL has presence in 27 locations (24 Business Centers & 3 Collection centers) across the country for business. It has got a strong marketing team, which is further assisted by Sales Associates (SAs). It has tie-ups with builders to provide finance to individual borrowers. It also has tie-ups with corporates for various housing finance needs.

Milestones achieved:

  • 1989     - The company was incorporated with the name 'GIC Grih Vitta Limited'.
  • 1989-91 - The company started its operations from 8 locations.
  • 1991-92 -The company launched Employee and Builder Scheme Housing Scheme.
  • 1992-93 - The company's name changed to 'GIC Housing Finance Limited'. Apna Ghar Yojana was introduced by the company.
  • 1993-94 - The company made a rights issue of 1:1; the capital crossed the Rs. 10 crores    mark.
  • 1994-95 - The company made its maiden IPO and mobilized additional capital of Rs. 40  crore.
  • 1996-97 - The company started the process of computerization.
  • 2003-04 - The company recorded an above industry growth rate of over 40% in loan approvals, disbursements and profitability. As a result the company has crossed Rs 500 crore annual business in individual housing loan and the total portfolio has crossed Rs 1000 crore.
  • 2004-05 - The company recorded an above industry growth rate of over 40% in loan approvals, disbursements and profitability. Rights Issue of 89,75,561 equity shares at Rs. 16 in the ratio of 1 equity share for every 2 shares held. Paid -up capital grew to Rs. 26.93 crores.
  • 2005-06 - Focus on consolidation of NPA and profitability.
  • 2006-07- Rights issue of shares at Rs. 40 in the ratio of 1 equity share for every 1 share held.
  • 2010-11 Opened second branch in Rajasthan at Jodhpur and second branch in West Bengal at Durgapur and expands further in Maharashtra by opening a branch at Kholhapur.
  • 2011-12 The company expands further in Maharastra by opening its new branch at Nere Panvel, suburb of Mumbai.
  • 2012-13  The Company opens its first branch in Madhya Pradesh at Indore.
  • 2013-14
    The Company opens its 43rd Branch at Patna.
    The Company opens its 44th Branch at Ahmedabad.
    The Company opens its 45th Branch at Kalyan.
    The Company opens its 46th Branch at Borivali.
    The Company opens its 47th Branch at Dehradun.
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