DLF

₹486.6 1.9 | 0.4%

WEBSITE BSE:532868 NSE : DLF LIMITED 09 Jun, 13:29

Market Cap ₹120449 Cr.

Stock P/E 59.1

P/B 3.2

Current Price ₹486.6

Book Value ₹ 152.3

Face Value 2

52W High ₹498.6

Dividend Yield 0.82%

52W Low ₹ 294.8

Edit Ratio

DLF Research see more...

Overview Inc. Year: 1963Industry: Construction - Real Estate

DLF Ltd is an India-based company, which is engaged in the enterprise of colonization and property development. The operations of the Company include all components of real estate development, from the identity and acquisition of land, to making plans, execution, construction and advertising and marketing of projects. It is likewise engaged in the business of leasing, generating power, hospitality and leisure activities. Its homes portfolio ranges from luxury residential complexes to smart townships. Its work places portfolio is an incorporated blend of office areas with food and beverage and entertainment services. It has evolved approximately 27.96 million sq meter residential vicinity and 4.2 million square/feet retail space. The Company's subsidiaries are Aaralyn Builders & Developers Private Limited, Abheek Real Estate Private Limited, Abhigyan Builders & Developers Private Limited and Americus Real Estate Private Limited, amongst others.

DLF Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

DLF Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	1543	1713	1140	1481	1550	1547	1442	1302	1495	1456
Other Income	125	194	103	76	137	105	75	58	65	120
Total Income	1668	1907	1242	1557	1687	1652	1516	1361	1560	1576
Total Expenditure	1044	1259	744	1023	1028	1180	1028	866	1018	1058
Operating Profit	624	648	498	534	659	472	488	495	542	518
Interest	198	191	175	176	146	128	105	107	95	85
Depreciation	39	39	38	37	37	37	37	37	39	36
Exceptional Income / Expenses	0	0	0	0	-224	0	0	0	0	0
Profit Before Tax	387	418	285	321	251	307	346	351	408	397
Provision for Tax	104	159	83	94	60	84	88	91	110	113
Profit After Tax	283	259	203	226	191	224	258	260	298	285
Adjustments	169	222	135	153	188	182	211	217	222	285
Profit After Adjustments	451	481	337	379	379	405	470	477	519	570
Adjusted Earnings Per Share	1.8	1.9	1.4	1.5	1.5	1.6	1.9	1.9	2.1	2.3

DLF Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	9629	7773	8298	7649	9926	8221	6707	8366	6083	5414	5717	5695
Other Income	594	1324	1492	519	671	719	957	663	805	531	420	318
Total Income	10224	9097	9790	8168	10597	8941	7664	9029	6888	5945	6138	6013
Total Expenditure	5725	5148	5813	4625	5928	4788	4329	6225	4948	3996	3975	3970
Operating Profit	4499	3949	3977	3543	4669	4153	3334	2805	1940	1949	2163	2043
Interest	2246	2314	2463	2304	2680	2980	2951	2062	1427	853	625	392
Depreciation	689	796	663	545	766	572	534	225	200	159	149	149
Exceptional Income / Expenses	-16	-33	-330	-68	-197	429	8765	127	340	-96	-224	0
Profit Before Tax	1547	806	521	627	1026	1030	8615	646	653	840	1165	1502
Provision for Tax	369	125	-84	158	564	229	4323	277	2133	362	321	402
Profit After Tax	1178	681	604	469	462	800	4292	368	-1479	477	844	1101
Adjustments	23	31	42	72	-156	-85	171	951	896	616	657	935
Profit After Adjustments	1201	712	646	540	306	715	4464	1319	-583	1094	1501	2036
Adjusted Earnings Per Share	7.1	4.2	3.6	3	1.7	4	25	6	-2.4	4.4	6.1	8.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	-12%	-7%	-5%
Operating Profit CAGR	11%	-8%	-12%	-7%
PAT CAGR	77%	32%	1%	-3%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	50%	47%	19%	10%
ROE Average	2%	-0%	3%	3%
ROCE Average	4%	4%	8%	7%

DLF Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	27236	27528	29194	29168	24069	24573	35310	33577	34447	35344	36362
Minority's Interest	421	402	202	175	126	124	49	41	18	20	19
Borrowings	16824	15542	13579	17630	20329	23255	6239	5614	3890	3295	2189
Other Non-Current Liabilities	2035	1649	1252	1053	-1843	-1894	1901	-539	1800	2045	2192
Total Current Liabilities	16538	18850	19257	16726	14869	13538	17029	25853	15701	12784	10404
Total Liabilities	63055	63970	63485	64752	57550	59596	60585	64546	55890	53488	51167
Fixed Assets	20339	19849	18835	19619	3943	3449	2722	2626	2591	4065	4465
Other Non-Current Assets	13256	12590	10227	11184	27396	26447	28408	28136	24506	22829	22611
Total Current Assets	29459	31532	34423	33949	26211	29700	28954	31154	28630	26593	24091
Total Assets	63055	63970	63485	64752	57550	59596	60585	64546	55890	53488	51167

DLF Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	874	932	984	1844	2441	2652	3271	1345	4266	1608	1035
Cash Flow from Operating Activities	2520	2009	1468	2037	2957	-898	270	2043	356	1460	2832
Cash Flow from Investing Activities	-24	1995	3924	98	-818	872	-1965	5	6517	154	263
Cash Flow from Financing Activities	-2438	-3951	-4532	-1547	-1929	787	-232	875	-9522	-2184	-3828
Net Cash Inflow / Outflow	58	52	860	588	210	761	-1927	2923	-2649	-570	-733
Closing Cash & Cash Equivalent	932	984	1844	2432	2652	3413	1345	4266	1608	1035	306

DLF Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	7.07	4.19	3.63	3.03	1.72	4.01	25.02	5.98	-2.36	4.42	6.06
CEPS(Rs)	10.99	8.69	7.11	5.69	6.88	7.69	27.05	2.69	-5.17	2.57	4.01
DPS(Rs)	2	2	2	2	2	2	2	2	2	2	3
Book NAV/Share(Rs)	148.45	149.75	153.17	153.05	134.78	137.67	193.64	148.72	139.16	142.79	146.9
Core EBITDA Margin(%)	40.55	33.77	29.95	39.53	40.27	41.76	35.45	25.6	18.66	26.19	30.48
EBIT Margin(%)	39.4	40.14	35.96	38.31	37.34	48.77	172.45	32.36	34.2	31.27	31.29
Pre Tax Margin(%)	16.07	10.37	6.28	8.19	10.34	12.52	128.46	7.72	10.74	15.51	20.37
PAT Margin (%)	12.23	8.76	7.28	6.13	4.65	9.73	64	4.4	-24.32	8.82	14.76
Cash Profit Margin (%)	19.39	19	15.27	13.25	12.37	16.7	71.96	7.09	-21.03	11.76	17.37
ROA(%)	1.9	1.07	0.95	0.73	0.76	1.37	7.14	0.59	-2.46	0.87	1.61
ROE(%)	4.75	2.69	2.29	1.72	1.8	3.29	14.52	1.09	-4.4	1.37	2.35
ROCE(%)	7.4	5.97	5.75	5.57	7.2	7.78	21.7	5.23	4.46	4	4.35
Receivable days	63.15	80.28	70.7	75.1	92	107.31	73.56	46.2	46.58	43.88	36.55
Inventory Days	591.59	794.09	794.7	861.33	633.33	819.86	1084.41	911	1334.97	1468.78	1314.91
Payable days	289.31	431.55	343.64	348.24	175.49	228.97	215.17	104.74	146.71	167.33	213.31
PER(x)	28.5	55.99	48.7	52.2	66.76	37.11	8.06	33.73	0	64.97	62.75
Price/Book(x)	1.36	1.57	1.15	1.03	0.85	1.08	1.04	1.36	0.99	2.01	2.59
Dividend Yield(%)	0.99	0.85	1.13	1.26	1.75	1.34	0.99	0.99	1.45	0.7	0.79
EV/Net Sales(x)	6.19	8.31	6.41	6.77	4.26	6.28	7.63	6.8	6.53	14.09	17
EV/Core EBITDA(x)	13.24	16.36	13.37	14.6	9.07	12.43	15.35	20.27	20.47	39.16	44.94
Net Sales Growth(%)	0.72	-19.28	6.76	-7.82	29.77	-17.17	-18.42	24.74	-27.29	-10.99	5.6
EBIT Growth(%)	2.38	-17.77	-4.36	-1.79	26.46	8.18	188.48	-76.59	-23.16	-18.62	5.68
PAT Growth(%)	-23.54	-42.22	-11.22	-22.48	-1.39	73.21	436.38	-91.42	-501.66	132.27	76.75
EPS Growth(%)	-26.8	-40.73	-13.45	-16.42	-43.38	133.4	524.47	-76.11	-139.42	287.51	37.24
Debt/Equity(x)	0.93	0.91	0.77	0.84	1.05	1.19	0.51	0.52	0.24	0.19	0.11
Current Ratio(x)	1.78	1.67	1.79	2.03	1.76	2.19	1.7	1.21	1.82	2.08	2.32
Quick Ratio(x)	0.8	0.74	0.83	0.98	0.63	0.71	0.54	0.35	0.39	0.43	0.38
Interest Cover(x)	1.69	1.35	1.21	1.27	1.38	1.35	3.92	1.31	1.46	1.98	2.86
Total Debt/Mcap(x)	0.73	0.62	0.71	0.87	1.24	1.1	0.49	0.39	0.24	0.09	0.04

DLF Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	74.95	74.95	74.95	74.95	74.95	74.95	74.95	74.95	74.95	74.95
FII	18.28	17.39	16.99	17	16.46	15.39	14.93	14.9	14.84	14.66
DII	1.81	2.21	2.57	3.01	3.42	4.1	4.57	4.8	5.09	5.22
Public	4.97	5.45	5.5	5.05	5.17	5.56	5.56	5.35	5.12	5.17
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	185.52	185.52	185.52	185.52	185.52	185.52	185.52	185.52	185.52	185.52
FII	45.25	43.04	42.05	42.07	40.73	38.1	36.94	36.88	36.74	36.29
DII	4.47	5.48	6.35	7.44	8.48	10.16	11.31	11.87	12.61	12.92
Public	12.29	13.49	13.61	12.49	12.8	13.75	13.76	13.25	12.67	12.8
Others	0	0	0	0	0	0	0	0	0	0
Total	247.53	247.53	247.53	247.53	247.53	247.53	247.53	247.53	247.53	247.53

Pros

Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of -0% over the last 3 years.
Debtor days have increased from 167.33 to 213.31days.
Stock is trading at 3.2 times its book value.
The company has delivered a poor profit growth of 1% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.