Dewan Housing Finance Limited


(Growth_without Debt) #181

Housing Finance - Ambit view
http://reports.ambitcapital.com/reports/Ambit_BFSI_HFCsHoldersbeware_23Jun2017.pdf


(Rejinoldo) #183

DHFL - SCUTTLEBUTT.

The branch started in 2016 OCT.

No much business during the initial months. 100 Lakhs during FY17 . 2 Cr. during last three months.

All loans disbursed are between 7 - 20 lakhs. The branch manager is pretty confident of doing 6cr by FY18 AND 12 crore by FY19 .

There are around 4500 chit companys and lots of banks in thrissur. Three nationalized banks are based out of thrissur [CSB with close to 600 branches , SIB and dhanlakshmi bank].
Every person in thrissur has one close relative in any of these institutuions.
In spite of these, if this is the kind of inroads that DHFL IS making in a city with very strong moats, then, I think, we have a “GAME ON”.

PS : Invested. My views could be biased.


(James Sebastian) #184

DHFL Q3 results continues to be good.

Standalone

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Results at
http://www.bseindia.com/xml-data/corpfiling/AttachLive/682fefb7-0519-4dc8-ad67-3df319174b16.pdf

Investor presentation can be found here.
http://www.bseindia.com/xml-data/corpfiling/AttachLive/37da1b91-ae92-43ac-a424-7734de12123e.pdf

Views invited: Not sure if there is any effect due to demonitisation last year.

Disc: Invested ~3 % of PF


(Dinesh Sairam) #185

DHFL submitted Investor Presentation to the exchanges: http://www.bseindia.com/xml-data/corpfiling/AttachLive/2f5e84d6-a3b6-4c0c-a7b7-b158fd3b0040.pdf

It’s pretty informative, so dig in. Specifically look at the Key Ratios.

Disc: Invested.


(Dinesh Sairam) #186

(kumarshah) #187

Anyone still tracking this?

Results declared for Q3 FY 2018

Hey Highlights:

Dewan Housing Finance Corporation (DHFL) has reported a 25.8 percent growth year-on-year in net profit at Rs 312.4 crore for the quarter ended March 2018, against adjusted profit of Rs 248.3 crore in year-ago.

Revenue from operations during the quarter grew by 18 percent to Rs 2,802 crore from Rs 2,375.4 crore in corresponding period of last fiscal.

Asset quality was stable, with gross non-performing assets unchanged at 0.96 percent on sequential basis.

Last year March quarter had a one-time exceptional of 1969 crores. On expenses front:

Finance costs were up 13 per cent yoy at Rs 1,980 crore. Other expenses rose 29 per cent yoy to Rs 240 crore. Employee benefit expenses jumped 52 per cent yoy to Rs 100 crore.

Board has also approved plan to raise 15000 crore through NCD. I am still new to all this so not sure how that affects share prices?

Disc: Invested


(Dinesh Sairam) #188

It is not very different from raising Debt for their Operations through the Primary Market. The reason given by the management is that they can borrow at a lower Cost of Debt. DHFL’s Credit Quality has indeed been improving, so it kind of makes sense.

FYI, this is the Credit Rating history of DHFL:

https://www.crisil.com/en/home/our-businesses/ratings/company-factsheet/archived-rating-rationales.html?prodCategory=CGBLR&companyCode=DEWHOUS

But considering how DHFL’s “Borrowings” are close to Rs. 81k crore, this should be a drop in the bucket and should not really affect the Value by much. It’s just an opportune moment to raise additional money at lesser interest rates.


(yourraj) #189

DHFL Meet the resistance (NOV 2017 ) today and reversing due to overbought RSI >70 .It has strog suppoRT
The upwrad Trend supported by strong MCAD Signal ,High CCI ,High Volume and ADX

The Good thing about the company is decering their landing cost i mean cost of procuring the capital for the business is decreasing


(niravacharya) #190

Results are out:


(kumarshah) #191

Anybody know why stock is down 40%?


(niravacharya) #192

complete housing sector is down


(Dinesh Sairam) #193

Let’s not discuss price action, please. Unless there’s a specific news affecting the fundamentals of the company, it’s all just market madness, out of which we derive no value.


(Pragnesh) #194

50% down
What is reason?


(kumarshah) #195

I will have to disagree because a stock doesn’t go down 50% in market madness. 10% correction, 15% it’s fine. 50% there is something going on which retail investors don’t know about?


(niravacharya) #196

Indiabulls housing down 30%…
Gruh Down 13%…
Repco Home down 10%…

housing market collapsed…

Also Smallcap index down 3.5%


(kumarshah) #197

Yes, but why? Issues in debt market?


(niravacharya) #198

absolutely no idea…
everywhere there seems panic

Nifty down 3%
Midcap down 6.5%
smallcap down 4.5%


(Dinesh Sairam) #199

Yes… and we shouldn’t mind discussing something like that. But posting price numbers and panicking is no way to a fruitful discussion. It’s also against forum rules. We’re better than the typical trading site board.


(niravacharya) #200

sorry for that… will avoid these things in future


(Dinesh Sairam) #201

Apparently, the company has set up a conference call to address investors questions today in about half an hour from now (2:45 PM).

Dial-in details: 71950000, 0185341#

I’m not quite sure if the numbers are correct. If someone is attending the call, please do post the updates here. Only then can we have a good discussion.

Thank you.