Monday, January 16, 2012

Dewan Housing Finance Corporation Limited = RESULTS = FOR Q3 FY 2012 = Q/E DEC,2011 = NPT UP 4.28% QOQ; 21.39% YOY


Dewan Housing Finance Corporation Limited

NSE Symbol        DEWANHOUS

DEWAN HOUSING CORP has performed well in Q3 FY 12 ending Dec,2011.

Net Sales stands at Rs.624.75 in the current Qtr of Q3 FY 12 ending Dec,2011 – compared to Rs.553.43 cr in the previous qtr of Q2 FY 12(Up by 12.89%); - and Rs.366.4 cr (Up by 70.51%) in the corresponding Qtr of Q3 FY 11.

Total Expenditure for Q3 FY 12 stands at Rs.84.24 cr – compared to Rs.73.22 cr (Up by 15.04%) in previous qtr and Rs.43.30 cr (Up by 94.54%) in corresponding Qtr.

Profit from Operations stands at  Ra.577.29 cr – compared to rs.515.33 cr (Up by 12.02%) in previous qtr; and Rs.342.90 cr (Up by 68.35%) in corresponding Qtr.

Interest     Expense stands at  Rs.478.84 cr in Q3 FY 12 – compared to Rs.429.04 cr (Up by 11.61%) in previous qtr  - and  Rs.262.49 Cr (Up by 82.42%) in corresponding Qtr. Interest Expense is the main expense for Housing finance companies.

Profit before tax stands at Rs.98.82 cr in Q3 FY 12 – compared to Rs.86.72 cr (Up by 13.95%) in previous qtr and Rs.81.06 cr (Up by 21.9%) in corresponding qtr.

Tax expense stands at Rs.23.84 cr in Q3 FY 12 – compared to Rs.14.83 cr (Up by 60.83%) in previous qtr  - and Rs.19.30 cr (Up by 23.55%) in corresponding qtr.

Net Profit for Q3 FY 12 stands at Rs.74.97 Cr – compared to Rs.71.89 Cr (Up by 4.28%) in previous Qtr – and Rs.61.76 Cr (Up by 21.39%) in corresponding Qtr.

On a Face Value of Rs.10, Basic EPS( before EI) stands at Rs.7.16 in Q3 FY 12; Rs.6.87 in Q2 FY 12. Annual EPS will be around Rs.28.

Current Market Price is Rs.203.95 while the 52 week high price is Rs.288 and the 52 week low price is Rs.175.50.

The Price Earning Ratio comes to 7.28. Diwan Hsg is performing well. In a normal market, it may command much higher  valuations.

ANNOUNCEMENT BY COMPANY

15-12-2011          Dewan Housing Finance has approved the following : (1) Issue of equity shares of the Company and/or other securities in the form of QIPs/ADRs/GDRs/FCCBs/ and or any other securities convertible into equity shares and/or Rights Issue or any combination thereof pursuant to Section 81 and 81(1A) of the Companies Act, 1956, upto an amount of Rs. 500/- crore; (2) Increase in the limit of holding by registered Foreign Institutional Investors [FIIs] upto 60% of the paid up equity capital of the Company; (3) Draft Postal Ballot Notice pursuant to Section 192A of the Companies Act., 1956 read with the Companies (Passing of the Resolution by Postal Ballot) Rules, 2011 and accorded its consent to seek approval of the shareholders by way of Postal Ballot for issue of aforesaid securities. The results of the Postal Ballot will be declared on January 19, 2012.

RESULTS TABLE

DEWAN HSG
31-Dec-11
30-Sep-11
% DIF 1
31-Dec-10
%DIF 2
Net Sales
62474.65
55342.55
12.89
36639.73
70.51
Other Operating Income
3677.83
3513.06
4.69
1980.65
85.69
Employees Cost
2064.73
1954.49
5.64
1523.18
35.55
Depreciation
142.19
211.75
-32.85
122.22
16.34
Other Expenditure
6216.93
5156.25
20.57
2684.73
131.57
Total Expenditure
8423.85
7322.49
15.04
4330.13
94.54
Profit from Operations
57728.63
51533.12
12.02
34290.25
68.35
Other Income
36.5
42.22
-13.55
65.38
-44.17
Interest
47883.62
42903.5
11.61
26249.37
82.42
Profit before tax
9881.51
8671.84
13.95
8106.26
21.9
Tax expense
2384.43
1482.57
60.83
1930
23.55
Net Profit
7497.08
7189.27
4.28
6176.26
21.39
Face Value (In Rs
10
0

10
0
Paid Up Equity
10488.33
10474.58
0.13
10435.91
0.5
Basic EPS before EI
7.16
6.87
4.22
6.24
14.74
Diluted EPS before EI
7.09
6.8
4.26
6.15
15.28
Public holding (%)
60.76
60.71
0.08
60.75
0.02

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