Financials DLF Limited

Equities

DLF

INE271C01023

Real Estate Development & Operations

Delayed NSE India S.E. 23:54:27 2024-06-18 EDT 5-day change 1st Jan Change
872 INR -0.77% Intraday chart for DLF Limited +1.48% +20.11%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 396,291 340,232 710,538 941,732 882,944 2,175,304 - -
Enterprise Value (EV) 1 488,309 365,190 751,591 971,804 888,829 2,220,355 2,141,913 2,123,910
P/E ratio 33.7 x -57 x 64.9 x 62.8 x 43.4 x 81.4 x 61.7 x 51 x
Yield 0.99% 1.46% 0.7% 0.79% 1.12% 0.47% 0.57% 0.64%
Capitalization / Revenue 4.74 x 5.59 x 13.1 x 16.5 x 15.5 x 34.5 x 29.2 x 23.2 x
EV / Revenue 5.84 x 6 x 13.9 x 17 x 15.6 x 34.5 x 28.7 x 22.7 x
EV / EBITDA 22.8 x 32.2 x 53 x 55.8 x 51.5 x 105 x 75.1 x 60.1 x
EV / FCF 33.9 x 308 x 52 x 36.2 x 36.6 x 62.2 x 59.2 x 79.1 x
FCF Yield 2.95% 0.33% 1.92% 2.76% 2.73% 1.61% 1.69% 1.26%
Price to Book 1.33 x 0.99 x 2.01 x 2.59 x 2.34 x 5.49 x 5.21 x 4.83 x
Nbr of stocks (in thousands) 1,957,475 2,475,315 2,475,312 2,475,312 2,475,312 2,475,312 - -
Reference price 2 202.4 137.4 287.0 380.4 356.7 878.8 878.8 878.8
Announcement Date 19-05-21 20-06-04 21-06-11 22-05-17 23-05-12 24-05-13 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 83,661 60,828 54,141 57,174 56,948 64,270 74,515 93,671
EBITDA 1 21,415 11,350 14,178 17,426 17,259 21,236 28,522 35,339
EBIT 1 19,169 9,347 12,583 15,931 15,772 19,756 29,522 36,100
Operating Margin 22.91% 15.37% 23.24% 27.86% 27.7% 30.74% 39.62% 38.54%
Earnings before Tax (EBT) 1 6,457 6,535 8,396 11,646 15,024 21,505 27,747 35,982
Net income 1 13,192 -5,832 10,936 15,009 20,340 27,235 35,291 42,640
Net margin 15.77% -9.59% 20.2% 26.25% 35.72% 42.38% 47.36% 45.52%
EPS 2 6.000 -2.410 4.420 6.060 8.220 11.02 14.25 17.22
Free Cash Flow 1 14,389 1,187 14,467 26,834 24,270 34,639 36,172 26,866
FCF margin 17.2% 1.95% 26.72% 46.93% 42.62% 52.01% 48.54% 28.68%
FCF Conversion (EBITDA) 67.19% 10.46% 102.04% 153.99% 140.62% 165.26% 126.82% 76.02%
FCF Conversion (Net income) 109.07% - 132.28% 178.79% 119.32% 130.78% 102.5% 63.01%
Dividend per Share 2 2.000 2.000 2.000 3.000 4.000 4.139 5.031 5.642
Announcement Date 19-05-21 20-06-04 21-06-11 22-05-17 23-05-12 24-05-13 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 15,430 17,126 11,395 14,809 15,497 15,473 14,416 13,023 14,948 14,561 14,232 14,755 16,458 17,426 -
EBITDA 1 4,991 4,539 3,954 4,583 5,213 3,675 4,137 4,367 4,772 3,984 3,962 3,852 5,690 5,556 -
EBIT 1 4,600 4,154 3,575 4,210 4,840 3,306 3,763 4,000 4,386 3,623 3,598 2,874 4,142 4,680 -
Operating Margin 29.81% 24.25% 31.37% 28.43% 31.23% 21.37% 26.1% 30.71% 29.34% 24.88% 25.28% 19.48% 25.17% 26.86% -
Earnings before Tax (EBT) 1 3,868 4,182 - 3,207 2,512 3,073 3,458 3,512 4,080 3,974 3,734 3,624 5,872 6,985 -
Net income 1 4,512 4,809 3,371 3,790 3,795 4,053 4,696 4,770 5,179 5,696 5,270 5,502 6,722 7,637 -
Net margin 29.24% 28.08% 29.58% 25.59% 24.49% 26.2% 32.57% 36.63% 34.65% 39.12% 37.03% 37.29% 40.84% 43.82% -
EPS 2 1.820 1.940 1.360 1.530 1.530 1.640 1.900 1.930 2.100 2.300 2.130 2.090 2.705 2.850 3.120
Dividend per Share - 2.000 - - - 3.000 - 3.000 - - - - - - -
Announcement Date 21-01-29 21-06-11 21-07-26 21-10-28 22-01-31 22-05-17 22-07-29 22-10-21 23-01-25 23-05-12 23-07-21 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 92,018 24,958 41,053 30,072 5,886 - - -
Net Cash position 1 - - - - - 21,585 33,391 51,394
Leverage (Debt/EBITDA) 4.297 x 2.199 x 2.896 x 1.726 x 0.341 x - - -
Free Cash Flow 1 14,389 1,187 14,467 26,834 24,270 34,639 36,172 26,866
ROE (net income / shareholders' equity) 3.83% -1.71% 3.13% 4.19% 5.49% 7.04% 8.57% 9.76%
ROA (Net income/ Total Assets) 2.04% -0.94% 1.95% 2.8% 3.82% 3.66% 4.51% 5.49%
Assets 1 647,947 620,758 560,251 536,558 532,448 722,914 783,374 777,188
Book Value Per Share 2 153.0 139.0 143.0 147.0 152.0 160.0 169.0 182.0
Cash Flow per Share 2 9.290 1.340 5.900 11.40 10.90 18.50 14.40 10.00
Capex 1 6,041 2,063 135 1,484 2,590 3,668 4,894 5,834
Capex / Sales 7.22% 3.39% 0.25% 2.6% 4.55% 5.51% 6.57% 6.23%
Announcement Date 19-05-21 20-06-04 21-06-11 22-05-17 23-05-12 24-05-13 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
878.8 INR
Average target price
885.5 INR
Spread / Average Target
+0.76%
Consensus
  1. Stock Market
  2. Equities
  3. DLF Stock
  4. Financials DLF Limited