IDFC LTD

IDFC LTD

·         One of the finest financial groups which provide funds for infrastructure development projects.

·          The list of infrastructure domains where it has its hand are Energy / Transportation /Telecom / Industrial Development SEZ .All  this are part of rapidly growing sectors in India.

·         The key strength of the company is the believe of management  team  in  their  work  and to make things  possible practically.

·         Recently the company has bagged banking license from RBI and in planning to entry the retail banking from the rural areas which is the key growth of India, where the major private bankers doesn’t have much participation.

·         Balance sheet of the company has been always shinning marks YOY.

·         Govt of India has 17% stake in the company which will add as an advantage to commercialize its business across India.

·         There are lot of brokerage houses providing target price for this due to lime light after getting approval from RBI for banking license. Yes all the targets will be achieved sooner or later but rather believing this target price my believe is the company will grow as Kotak Mahindra and HDFC bank in the upcoming years.

·         You can add this stock as the banking portfolio.

  

Q2Q

(in Cr.)	Jun-14	Mar-14	Dec-13	Sep-13	Jun-13
Income Statement
Revenue	1,973.42	2,018.30	1,991.99	2,065.88	2,138.04
Other Income	65.75	13.74	3.02	0.47	0.49
Total Income	2,039.17	2,032.04	1,995.01	2,066.35	2,138.53
Expenditure	-262.15	-523.16	-95.87	-109.29	-114.17
Interest	-1,286.90	-1,232.78	-1,253.55	-1,255.83	-1,264.80
PBDT	490.12	276.1	645.59	701.23	759.56
Depreciation	74.99	-5.99	-6.15	-6.13	-6.02
PBT	565.11	270.11	639.44	695.1	753.54
Tax	-116.04	-57.07	-164	-197	-239
Net Profit	449.07	213.04	475.44	498.1	514.54
Equity	1,516.83	1,516.29	1,516.22	1,516.13	1,514.99
EPS	2.96	1.4	3.14	3.28	3.4
CEPS	2.47	1.44	3.18	3.33	3.44
OPM %	90.05	74.76	95.34	94.73	94.68
NPM %	22.76	10.56	23.87	24.11	24.07