LIC HOUSING FINANCE EXCELS IN FY 10

LIC HOUSING FINANCE

RESULTS FOR FY 10  VS  FY 09

REVIEW

LIC Housing finance performed excellently in FY 10 compared to FY 09.

Net Sales have increased to Rs. 328266.56 lakhs in FY 10  from Rs. 274764.68 lakhs in FY 09, an increase of Rs.53501.88 or 19.47 %.

Consolidated Net Profit in FY 10 has increased to Rs. 68883.49 lakhs from Rs. 53742.27 lakhs in FY 09, an increase of Rs.15141.22 lakhs or 28.17 %.

Dividend has been increased to 150 % from 130% last year.

The  Basic EPS in FY10 has gone up to Rs.76.42 from Rs. 63.28 in FY 09 on a face value of Rs10.

Quarterly Sales has been on the increase  as can be seel from quarterly figures. In latest qtr, the sales were Rs. 91932.85 lakhs compared to Rs 83361.12 in preceding quarter and Rs. 75442.51 in same qtr of last year.

Quarterly,Basic EPS has also registered good increase to Rs. 22.49 in current Qtr from Rs. 16.18 in the preceding qtr, and Rs. 18.55 in same qtr last year.

Thus, the review reveals that LIC Housing Finance has performed excellently in the FY 10 compared to FY 09.

Judging by the latest qtr performance, going forward, the next annual EPS could scale upto 90 or above.

At the current price of Rs. 963, the P/E ratio works out to 12.6 on the trailing EPS, which leaves good scope for appreciation. 


Note : Readers are invited to offer comments, suggestions, criticism and corrections, if any, and the same will be gratefully taken note of.

RESULTS - NUMBERS

Description  ::    FY 10 (Rs. in lakhs)   ::  FY 09  (Rs. in lakhs)

Net Sales :  328266.56 :: 274764.68

Other Operating Income :: 18094.97  :: 13323.04

Employees Cost               :: 5240.25  :: 4521.75

Depreciation  ::                 652 :: 509.9

Other Expenditure  ::  11106.31 :: 11167.83

Total Expenditure  :: 16998.56  ::  16199.48

Other Income  ::  1164.1  :: 2217.74

Interest        :: 239572.65  ::  201661.09

Tax Expense  ::  24921.23  :: 19484.86

Net Profit (+) ::   66033.19  :: 52960.03

Shares of Associates  ::  -2850.3  ::  -782.24

Consolidated Net Profit: : 68883.49  :: 53742.27

Dividend (%)     150 -      -130

Face Value (in Rs.)  :: 10  :: 10

Paid-up Equity :: 9493.26  :: 8493.26

Reserves :: 334784.58 :: 217764.02

Basic EPS ::  (in Rs.) ::      76.42 ::  63.28

Diluted EPS :: (in Rs.) ::  76.42 ::  63.28

QUARTERLY RESULTS COMPARISON

QTRS    ::  03/10    ::   12/09  ::   09/09   ::   06/09   ::   03/09

Net Sales: : 91932.85 ::   83361.12  :: 78467.97  ::  74504.62 :: 75442.51

Other Operating Income::4361.35 :: 4460.81 :: 5021.39 :: 3514 ::  3605.01

Other Expenditure :: 3512.71 :: 4434.3 ::  -248.28 :: 3089.37 :: 3711.99

Total Expenditure :: 4871.92 :: 5831.76 :: 1346.94 :: 4223.13 :: 4609.1

Other Income ::  531.74 ::  224.19 :: 422.31 :: 170.68 :: 1560.68

Interest :: 62135.78 :: 60565.97 :: 59785.01 :: 57085.89 :: 54294.35

Tax expense :: 8466.85 :: 6290.5 :: 5655.08 :: 4496.59 :: 5948.95

Net Profit ::  21351.39  :: 15357.89 :: 17124.64 ::  12383.69  :: 15755.8

Dividend (%) ::  150::- :: - :: - :: 130

Face Value (In Rs): :10 : 10 : 10 : 10 : 10

Paid Up Equity : 9493.26 : 9493.26 : 9493.26: 8493.26 :8493.26

Basic EPS : :  22.49  :: 16.18  ::    -  ::  14.58  :: 18.55

Announcements  

by  LIC HOUSING FINANCE 

to Exchange

30-04-2010          Lic Housing Finance Limited had informed the Exchange regarding Audited Financial Results for the Financial Year ended March 31, 2010. The Company has now informed the Exchange that "The result contain a minor error in the figure of Loan Funds and Total Liabilities in Statement of Assets and Liabilities. The correct figure should be as follows: Loan Funds - Rs. 3475815.69 lacs (in the consolidtaed year ended 31.03.2010 column), Total Liabilities - Rs. 3820099.90 lacs (in the consolidtaed year ended 31.03.2010 column)". Further the company has submitted a copy of Audited Financial Results for the Financial Year ended March 31, 2010. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.    -

29-04-2010          Lic Housing Finance Limited has informed the Exchange that the Board of Directors in its meeting held on April 28, 2010 has approved the Book Closure date from July 01, 2010 to July 15, 2010 (both days inclusive) for the purpose of ascertaining entitlement of Dividend, if any, declared by the members at the Annual General meeting for F.Y. 2009-2010. Further the Annual General Meeting of the Company will be held on July 15, 2010.             -

28-04-2010          Lic Housing Finance Limited has informed the Exchange that the Board of Directors at their meeting held on April 28, 2010 has recommended a dividend of Rs.15/- per equity share of Rs.10 each (150%) subject to approval of the members of the Company at the forthcoming Annual General Meeting.               -

28-04-2010          LIC Housing Finance Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 328266.56 lacs for year ending on 31-MAR-2010 against Rs. 274764.68 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 68883.49 lacs for the year ending on 31-MAR-2010 against Rs. 53742.27 lacs for the year ending on 31-MAR-2009.   -

28-04-2010          LIC Housing Finance Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 91932.85 lacs for quarter ending on 31-MAR-2010 against Rs. 75442.51 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 21351.39 lacs for the quarter ending on 31-MAR-2010 against Rs. 15755.8 lacs for the quarter ending on 31-MAR-2009.               -

28-04-2010          LIC Housing Finance Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 328266.56 lacs for year ending on 31-MAR-2010 against Rs. 274764.68 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 66217.61 lacs for the year ending on 31-MAR-2010 against Rs. 53162.02 lacs for the year ending on 31-MAR-2009.  

30-03-2010          News Verification : The media had reports that Lic Housing Finance Ltd may get a banking licence. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Lic Housing Finance Ltd has vide its letter inter-alia stated," We wish to clarify that we do not know the source of reports as appearing in the media. As on date, the Company has not made any application to the Reserve Bank for Banking licence. The appropriate decision in this regard will be taken only after RBI notifies the guidelines for issuing Banking licence."