Sundaram Finance Ltd

₹ 4,104 0.41%

21 Nov - close price

sundaramfinance.in BSE: 590071 NSE: SUNDARMFIN

About

Sundaram Finance is a registered deposit taking NBFC established in 1954. The Co. is engaged in retail finance across multiple domains like Vehicle finance, Home Finance, Mutual Funds, General insurance and Financial service distribution ^[1]

Key Points

Company History
The Co. started with the business of financing the purchase of commercial vehicles and gradually expanded to multiple financial services. In 1981 it started equipment leasing operations. Post-1989 it started extending financial services through subsidiaries like India Equipment Leasing Ltd., and Sundaram Home Finance Ltd. In 1996 it entered into a joint venture agreement with Newton Management Limited, U. K., and Stewart Newton Holdings (Mauritius) Limited for setting up an Asset Management Company. ^[1]

Website BSE NSE

Market Cap ₹ 45,591 Cr.
Current Price ₹ 4,104
High / Low ₹ 5,536 / 3,104
Stock P/E 33.9
Book Value ₹ 953
Dividend Yield 0.73 %
ROCE 9.40 %
ROE 15.7 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 25.0%

Cons

Stock is trading at 4.31 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.63%
The company has delivered a poor sales growth of 10.5% 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.

Peer comparison

Sector: Finance Industry: Finance & Investments

Part of Nifty LargeMidcap 250 Nifty 200 Nifty 500 Nifty Total Market Nifty MidSmallcap 400 Nifty 500 Multicap 50:25:25 Nifty Midcap 150 Nifty Midcap150 Momentum 50 Nifty Midcap 100 Nifty Midcap 50

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Revenue	1,022	958	940	935	1,048	1,009	1,054	1,187	1,375	1,346	1,572	1,468	1,601
Interest	413	417	411	404	426	458	491	544	613	694	724	757	811
	315	258	139	222	205	209	181	258	258	233	341	281	296
Financing Profit	293	283	389	309	417	342	382	385	504	419	506	429	494
Financing Margin %	29%	30%	41%	33%	40%	34%	36%	32%	37%	31%	32%	29%	31%
	3	3	9	7	4	2	51	7	3	6	133	8	11
Depreciation	18	19	20	19	22	25	28	27	31	35	39	36	40
Profit before tax	278	267	378	297	399	319	405	365	476	390	600	402	465
Tax %	24%	24%	21%	24%	24%	24%	22%	23%	23%	23%	16%	24%	27%
	211	202	299	226	304	243	316	281	366	300	506	308	340
EPS in Rs	18.96	18.22	26.89	20.32	27.32	21.84	28.48	25.32	32.98	27.01	45.57	27.69	30.61
Gross NPA %	3.85%	7.71%	2.42%	2.66%	4.29%	3.97%	3.00%	2.96%	2.89%	2.61%	1.98%	1.56%	2.39%
Net NPA %	2.48%	6.17%	1.26%	1.41%	2.97%	2.78%	2.10%	2.00%	2.06%	1.82%	1.25%	0.84%	1.55%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Revenue	2,117	2,292	2,353	2,461	2,411	2,841	3,324	3,911	3,994	3,870	4,068	5,483	5,986
Interest	1,082	1,164	1,168	1,218	1,165	1,346	1,766	2,072	2,031	1,700	1,780	2,576	2,986
	376	388	423	490	460	596	626	837	857	941	816	1,090	1,152
Financing Profit	660	740	763	753	787	899	931	1,002	1,107	1,229	1,472	1,817	1,849
Financing Margin %	31%	32%	32%	31%	33%	32%	28%	26%	28%	32%	36%	33%	31%
	14	-1	-20	14	15	14	611	16	20	20	42	145	158
Depreciation	82	92	91	84	82	64	54	73	70	73	94	132	150
Profit before tax	593	647	651	683	720	850	1,488	945	1,056	1,177	1,420	1,831	1,857
Tax %	31%	32%	30%	30%	31%	34%	24%	23%	23%	23%	23%	21%
	410	443	454	477	495	563	1,126	724	809	903	1,088	1,454	1,454
EPS in Rs	36.91	39.83	40.88	42.96	44.59	50.71	101.38	65.16	72.82	81.32	97.96	130.87	130.88
Dividend Payout %	24%	25%	26%	26%	26%	24%	17%	20%	25%	25%	28%	23%

Compounded Sales Growth
10 Years:	9%
5 Years:	11%
3 Years:	11%
TTM:	29%

Compounded Profit Growth
10 Years:	12%
5 Years:	14%
3 Years:	19%
TTM:	11%

Stock Price CAGR
10 Years:	14%
5 Years:	20%
3 Years:	21%
1 Year:	31%

Return on Equity
10 Years:	15%
5 Years:	14%
3 Years:	15%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	111	111	111	111	111	111	111	111	111	111	111	111	111
Reserves	1,976	2,294	2,867	3,202	3,635	4,023	4,933	5,436	6,068	6,782	7,626	9,361	10,476
	11,467	11,776	12,535	12,587	13,870	21,109	25,006	27,337	28,213	27,830	32,755	40,877	43,700
	1,084	1,233	1,248	1,493	1,552	568	600	535	527	565	566	639	684
Total Liabilities	14,638	15,414	16,761	17,393	19,167	25,811	30,649	33,420	34,920	35,288	41,059	50,988	54,970
	332	343	309	276	276	294	305	360	331	360	513	657	701
CWIP	0	3	2	3	1	0	0	0	0	0	1	1	0
Investments	1,044	1,447	1,521	1,836	1,883	2,207	1,866	3,938	4,052	5,319	5,063	6,383	6,876
	13,261	13,620	14,929	15,278	17,008	23,310	28,478	29,122	30,536	29,608	35,483	43,947	47,394
Total Assets	14,638	15,414	16,761	17,393	19,167	25,811	30,649	33,420	34,920	35,288	41,059	50,988	54,970

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-705	41	-1,082	313	-1,025	-6,057	-4,278	304	-251	1,739	-4,981	-7,223
	-291	-283	482	-175	-190	-367	1,028	-1,734	82	-1,077	467	246
	1,019	254	571	-141	1,215	6,460	3,254	1,319	253	-687	4,573	7,363
Net Cash Flow	23	13	-28	-4	1	36	3	-111	83	-24	59	387

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
ROE %	21%	20%	18%	15%	14%	14%	15%	14%	14%	14%	15%	16%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	35.89%	38.49%	38.49%	38.49%	38.49%	38.49%	38.49%	38.49%	37.88%	37.87%	37.86%	37.23%
	0.00%	9.91%	0.00%	7.57%	7.69%	7.78%	7.78%	8.35%	8.31%	13.36%	17.31%	18.42%
	24.19%	14.27%	24.06%	16.70%	16.80%	16.87%	16.94%	16.55%	16.84%	12.39%	8.88%	8.02%
	39.10%	36.50%	36.64%	36.41%	36.20%	36.04%	35.97%	35.80%	36.16%	35.58%	35.14%	35.53%
	0.00%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	23,413	24,149	24,827	24,073	23,693	23,652	35,741	41,738	42,597	42,288	43,762	44,168

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	36.16%	36.05%	35.96%	36.47%	35.93%	35.91%	38.49%	38.49%	37.87%	37.23%
	1.66%	0.00%	0.00%	7.21%	0.00%	0.00%	9.91%	7.78%	13.36%	18.42%
	13.96%	16.91%	17.78%	11.58%	20.90%	23.90%	14.27%	16.87%	12.39%	8.02%
	47.32%	46.14%	45.39%	43.88%	42.32%	39.38%	36.50%	36.04%	35.58%	35.53%
	0.91%	0.89%	0.88%	0.86%	0.00%	0.00%	0.82%	0.00%	0.00%	0.00%
No. of Shareholders	20,758	23,633	25,847	24,659	27,302	23,573	24,149	23,652	42,288	44,168

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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