LIC Housing Finance - Q4FY13 Results First Cut - Microsec

LIC Housing Finance Ltd announced its Q4FY13 result on 26th April 2013.

Company's topline increased by 6.21% QoQ and 23.61% YoY to INR2054.73 crores. Whereas bottomline increased by 33.83% QoQ and 24.66% YoY to INR316.15 crores. During the quarter, company has decreased its Provisions by 110.92% QoQ to INR -3.48 crores, which helped it to boost its bottom line numbers.

For the year ended March 31, 2013, the Board of Directors have recommended a dividend of INR3.80 per equity share of INR2 each.

At the CMP of INR243, the stock is trading at P/BV of 2.15x. The current valuation of 1.54x FY14E Book Value looks attractive. We recommend aBUY on the stock with a target price of Rs.317 (2.02x FY14E BV) with an upside of ~30% from the current level with an investment horizon of 12 months.

Source : Equity Bulls

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