Small-cap housing finance stock falls 3% after approval to raise funds via NCDs 

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Small-cap housing finance stock falls 3% after approval to raise funds via NCDs 
Credit: © Reuters.

Indiabulls (NS: INBF ) Housing Finance Ltd has raised Rs 91.64 crores as its Securities Issuance and Investment Committee approved the allotment of approximately 9.16 lakh non-convertible debentures (NCDs) with a face value of Rs 1,000 each on a public issue basis.

The company opened its trading hour today at Rs 99.25 and currently trades at Rs 95.85. In comparison to the previous closing price of Rs 98.95, the stock has witnessed a downfall of around 3 percent. Adding to the same, the stock has underperformed in the last month by losing around 5 percent.

Indiabulls Housing Finance Ltd is operating as a private housing finance company in India. The company has businesses across verticals such as housing finance, real estate, and wealth management. Indiabulls also works on effective technology deployment in order to streamline its operations with a focus on payment collection. The company is mainly focused towards home loans in the ‘affordable housing’ segment with its basic strategy to focus on educating the customer through convenient, scalable services.

Having a quick glance at the financials of the company, the revenues have moved from Rs 2,229.78 crores in Q2 to Rs 2,338.99 crores in Q3. Net profits showed a slight movement QoQ from Rs 289.48 crores in Q2 to Rs 290.97 crores in Q3.

The profitability ratios of the company have somewhat remained at the same levels with an ROE of 7.68 percent during FY20-21 and 7.26 percent in FY21-22. ROCE figures were reported at 9.44 percent in FY20-21 and 9.57 percent during FY21-22.

The debt to equity ratio of the company has consistently gone down with the recent shift being from 4.31 in FY20-21 to 3.72 in FY21-22.

Promoters of the company hold a constant 9.59 percent stake over the past three quarters. On the other hand, FIIs have been on a constant ride of reducing their stakes with the recent movement being from 24.04 percent in Q2 to 21.73 percent in Q3.

Written by Amit Madnani

The post Small-cap housing finance stock falls 3% after approval to raise funds via NCDs appeared first on Trade Brains.

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