Home First Finance

₹918 22.7 | 2.5%

WEBSITE BSE:543259 NSE : HOMEFIRST 01 Dec, 16:01

Market Cap ₹8095 Cr.

Stock P/E 30.4

P/B 4.2

Current Price ₹918

Book Value ₹ 220.8

Face Value 2

52W High ₹980

Dividend Yield 0.28%

52W Low ₹ 654.9

Edit Ratio

Home First Finance Research see more...

Home First Finance Company India Ltd

Equity Research: Home First Finance Company

Overview Inc. Year: 2010Industry: Finance - Housing

Home First Finance Company India Ltd operates as a housing finance organisation in India. The organisation offers housing loans for the purchase or construction of houses, loans against property, loans for extension and renovation of home, and loans for purchase of industrial assets. It serves salaried and self-employed customers. The enterprise was founded in 2010 and is centred in Mumbai, India.

Home First Finance Share Price

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Peer Comparison

Home First Finance Quarterly Results

#(Fig in Cr.)	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Operating Revenue	132	138	146	152	156	169	205	227	255	273
Other Income	4	4	0	0	0	0	0	4	5	5
Total Income	136	142	146	152	156	169	206	231	260	278
Total Expenditure	37	39	32	35	37	40	48	52	60	62
Operating Profit	99	103	115	116	119	129	158	179	199	216
Interest Expense	54	53	56	55	54	61	80	93	107	117
Depreciation	2	2	2	2	2	2	2	2	3	3
Profit Before Tax	43	48	56	59	63	66	76	84	90	96
Provision for Tax	11	13	11	13	3	15	17	20	21	22
Profit After Tax	31	35	45	46	60	51	59	64	69	74
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	31	35	45	46	60	51	59	64	69	74
Adjusted Earnings Per Share	3.6	4	5.1	5.2	6.9	5.8	6.7	7.3	7.8	8.4

Home First Finance Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	6	17	35	60	92	132	260	399	489	596	791	960
Other Income	1	3	4	2	0	2	11	21	0	0	5	14
Total Income	7	20	39	62	92	134	271	420	489	596	796	975
Total Expenditure	5	8	12	16	26	42	75	111	127	143	183	222
Operating Profit	2	12	27	46	66	93	196	308	362	453	612	752
Interest Expense	3	10	22	37	54	66	127	194	221	219	308	397
Depreciation	0	0	0	0	2	2	5	7	8	8	9	10
Profit Before Tax	-1	2	5	9	10	24	65	107	134	226	295	346
Provision for Tax	0	-0	1	3	4	8	20	28	34	40	67	80
Profit After Tax	-1	3	3	6	7	16	46	80	100	186	228	266
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	-1	3	3	6	7	16	46	80	100	186	228	266
Adjusted Earnings Per Share	-0.7	1.8	2.3	3.2	1.3	3.1	7.2	10.2	11.5	21.2	25.9	30.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	33%	26%	43%	63%
Operating Profit CAGR	35%	26%	46%	77%
PAT CAGR	23%	42%	70%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	22%	NA%	NA%	NA%
ROE Average	14%	12%	11%	7%
ROCE Average	10%	10%	10%	9%

Home First Finance Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	50	99	102	154	306	325	523	933	1381	1574	1817
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	44	91	214	362	655	1020	1926	2484	3054	3464	4813
Current Liability	8	25	42	78	30	30	46	76	94	117	171
Other Liabilities & Provisions	0	1	1	5	-1	-5	2	10	11	6	3
Total Liabilities	102	216	359	599	991	1371	2496	3503	4539	5161	6805
Loans	67	157	302	473	761	1273	1997	2724	3018	3817	5094
Investments	0	0	0	0	0	0	103	0	0	0	0
Fixed Assets	0	0	1	1	7	10	17	21	17	20	26
Other Loans	2	5	14	35	29	36	138	290	309	488	902
Other Non Current Assets	0	0	8	0	0	1	0	0	0	0	0
Current Assets	33	52	35	90	195	51	241	468	1196	836	783
Total Assets	102	216	359	599	991	1371	2496	3503	4539	5161	6805

Home First Finance Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	24	35	29	23	116	23	186	148	209	618
Cash Flow from Operating Activities	-86	-134	-151	-273	-506	-791	-823	-223	-807	-1451
Cash Flow from Investing Activities	-3	11	8	-14	56	-105	-108	-615	804	-284
Cash Flow from Financing Activities	100	117	190	380	357	1059	893	900	411	1353
Net Cash Inflow / Outflow	11	-6	46	93	-93	163	-38	62	408	-382
Closing Cash & Cash Equivalent	35	29	75	116	23	186	148	209	618	236

Home First Finance Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-0.75	1.78	2.33	3.16	1.29	3.1	7.22	10.16	11.46	21.24	25.94
CEPS(Rs)	-0.68	1.87	2.56	3.4	1.6	3.58	7.94	11.08	12.33	22.09	26.97
DPS(Rs)	0	0	0.02	0.04	0	0	0	0	0	0	2.6
Book NAV/Share(Rs)	34.03	66.67	68.94	79.77	58.72	61.83	81.86	118.26	156.86	178	203.76
Net Profit Margin	-17.59	15.04	9.66	10.07	7.29	12.11	17.59	19.95	20.47	31.24	28.86
Operating Margin	29.96	71.76	76.59	76.92	70.32	68.31	73.79	75.54	72.5	74.76	76.27
PBT Margin	-17.59	13.66	13.58	15.13	11.31	18.37	25.11	26.92	27.41	37.99	37.32
ROA(%)	-1.57	1.6	1.17	1.25	0.84	1.35	2.36	2.65	2.49	3.84	3.82
ROE(%)	-2.83	3.53	3.47	4.84	2.95	5.14	10.92	11.01	8.72	12.7	13.62
ROCE(%)	2.71	7.72	9.41	9.79	8.29	7.8	10.11	10.25	9.02	9.4	10.34
Price/Earnings(x)	0	0	0	0	0	0	0	0	39.15	36.22	28.71
Price/Book(x)	0	0	0	0	0	0	0	0	2.86	4.32	3.65
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0.35
EV/Net Sales(x)	3.94	4.29	6.63	6.08	5.36	7.57	6.72	5.74	12.87	16.01	13.99
EV/Core EBITDA(x)	12.46	5.91	8.56	7.84	7.45	10.79	8.89	7.42	17.38	21.07	18.08
Interest Earned Growth(%)	371.04	178.58	105.96	71.38	53.5	44.24	96.82	53.34	22.69	21.78	32.79
Net Profit Growth	20.31	338.2	32.32	78.54	11.15	139.57	185.85	73.98	25.88	85.83	22.67
EPS Growth(%)	26.15	337.37	31.03	35.74	-59.04	139.52	132.93	40.74	12.78	85.34	22.14
Interest Coverage(x) %	0.63	1.24	1.22	1.24	1.19	1.37	1.52	1.55	1.61	2.03	1.96

Home First Finance Shareholding Pattern

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	33.66	33.65	33.62	33.6	33.58	33.57	33.52	33.46	30.21	30.19
FII	11.61	12.68	12.07	10.9	9.49	10.31	9.38	15.69	17.55	17.02
DII	43.11	40.62	40.42	40.48	41.18	6.41	6.52	8.41	10	9.96
Public	11.62	13.05	13.89	15.01	15.75	49.71	50.58	42.44	42.23	42.83
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Promoter	2.94	2.94	2.94	2.94	2.94	2.94	2.94	2.94	2.66	2.66
FII	1.02	1.11	1.06	0.96	0.83	0.9	0.82	1.38	1.55	1.5
DII	3.77	3.55	3.54	3.55	3.61	0.56	0.57	0.74	0.88	0.88
Public	1.02	1.14	1.22	1.32	1.38	4.36	4.44	3.74	3.72	3.78
Others	0	0	0	0	0	0	0	0	0	0
Total	8.75	8.75	8.76	8.76	8.77	8.77	8.78	8.8	8.81	8.82

Pros

Company has delivered good profit growth of 70% CAGR over last 5 years

Cons

Promoter holding is low: 30.19%.
Company has a low return on equity of 12% over the last 3 years.
Stock is trading at 4.2 times its book value.

* 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.