Micro NBFC

SRG Housing Finance Ltd.

SRGHFL

₹309.05

1.71% (5.2)

Market Cap

₹484 Cr.

P/E

19.86

SRG Housing Finance Ltd.
Overview
Financials
Benchmarking
Shareholding
NBFC

SRG Housing Finance Ltd.

SRG Housing Finance Ltd.
Overview
Financials
Benchmarking
Shareholding
NBFC

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on SRG Housing Finance Ltd. Shareprice

Has the share price of SRG Housing grown faster than its competition?

SRG Housing has given better returns compared to its competitors.
SRG Housing has grown at ~1.5% over the last 7yrs while peers have grown at a median rate of -9.34%

Is SRG Housing stock expensive?

SRG Housing is expensive when considering the PE ratio, however latest Price to Book is < 3 yr avg Price to Book.
Latest PE of SRG Housing is 19.86 while 3 year average PE is 15.47.
Also latest Price to Book of SRG Housing is 1.83 while 3yr average is 2.3.

View FAQ's On Business

Growth Table

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	8.82	23.94	30.86	13.69	44.59	11.11	1.50	6.08	20.01	12.17
TTM EPS CAGR	7.46	5.10	-2.60	0.90	2.41	7.45	13.02	27.01	27.62	27.92
Sales CAGR	21.27	28.51	24.07	19.02	16.16	17.38	23.73	34.06	34.94	35.40
PAT Margin (Abs Growth)	-1.79	-8.78	-8.71	-8.32	-8.44	-6.79	-1.77	-1.40	-5.47	-8.31
PE CAGR	1.27	17.93	34.35	12.68	41.19	3.41	-10.19	-16.48	-5.96	-12.31
CFO CAGR	68.39	—	73.43	—	16.08	7.67	28.45	34.77	34.79	34.01

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	59.36	112	218	320	328	391	415	504	665	869
Non Current Assets	40.21	69.80	177	284	280	332	355	464	631	830
Net Block	0.84	0.75	1.14	1.52	3.96	2.66	7.42	24.28	26.52	23.83
Capital Work in Progress	0.00	0.00	0.00	0.08	0.31	2.09	5.24	0.74	0.48	0.48
Intangible Assets Under Development	—	—	—	—	—	—	0.03	0.57	—	—
Long Term Investments	—	—	—	0.04	0.04	0.53	0.25	0.22	0.39	36.17
Current Assets	18.67	42.11	40.60	37.94	50.36	61.22	62.96	43.22	39.07	39.25
Inventory	—	—	—	—	—	—	—	—	—	—
Accounts Receivable	—	—	—	—	—	—	—	—	—	—
Short Term Investments	0.84	0.32	0.42	0.63	9.33	25.19	26.66	11.67	8.42	—
Cash & Bank Balances	2.13	22.19	5.83	28.48	32.89	27.01	24.87	23.46	21.25	31.47
Liabilities	59.36	112	218	320	328	391	415	504	665	869
Shareholders Funds	16.41	33.97	42.03	56.70	74.86	93.61	114	133	160	264
Share Capital	11.31	13.00	13.00	13.00	13.00	13.00	13.00	13.00	13.30	15.68
Reserves	5.09	20.97	29.03	43.70	61.86	80.61	101	118	145	248
Non Current Liabilities	29.39	61.62	137	253	244	283	284	354	487	604
Secured Loans	29.17	60.54	134	255	246	286	287	357	491	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	—
Current Liabilities	13.56	16.85	38.93	10.04	10.05	13.72	17.39	16.84	18.48	1.19
Accounts Payable	—	0.80	0.56	0.67	0.36	3.07	3.29	2.72	3.87	2.02
Short Term Loans	2.43	—	1.24	0.34	—	—	—	—	—	—

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	10.22	14.53	34.13	57.85	71.32	73.60	79.21	91.39	125	152
Operating Expenses	3.36	4.47	11.43	14.98	17.61	20.01	22.56	32.30	43.98	55.83
Raw Material	—	—	—	—	—	—	—	—	—	0.00
Material Cost (%)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee Cost	0.63	1.77	4.04	7.46	10.67	11.37	13.88	18.97	27.30	37.42
Power & Fuel Cost	0.01	0.01	0.02	0.07	0.09	0.11	0.13	0.27	0.35	—
Operating Profit	6.86	10.06	22.70	42.87	53.71	53.59	56.65	59.09	80.82	95.70
Other Income	0.04	0.03	0.13	0.28	1.28	3.07	1.60	2.56	1.87	3.05
OPM (%)	67.13	69.23	66.51	74.10	75.31	72.81	71.52	64.66	64.76	63.16
Depreciation and Amortisation	0.08	0.32	0.44	0.55	2.13	2.02	2.17	3.46	5.78	6.64
Interest	4.04	5.74	11.27	23.12	30.38	30.86	30.55	37.15	50.81	62.04
Profit Before Tax	2.77	4.03	11.12	19.47	22.49	23.77	25.53	21.04	26.10	30.06
Tax	0.90	1.32	3.04	4.82	4.52	4.94	5.21	3.99	5.04	5.66
Net Profit	1.87	2.71	8.08	14.64	17.97	18.83	20.32	17.06	21.06	24.40
Number of shares(Crs)	1.13	1.30	1.30	1.30	1.30	1.30	1.30	1.30	1.33	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	-12.88	-24.29	-89.92	-66.48	23.45	-26.87	3.45	-83.22	-140	-131
Profit Before Tax	2.77	4.03	11.12	19.47	22.49	23.77	25.53	21.04	26.10	30.06
Adjustments	-0.01	0.14	2.39	3.42	2.06	2.49	1.12	5.21	7.70	6.53
OCF Before Working Capital	2.75	4.17	13.51	-58.46	24.55	26.26	26.65	26.26	33.80	36.59
Working Capital Changes	-14.82	-27.25	-100	-1.97	4.10	-47.82	-17.76	-104	-168	-161
Taxes Paid	-0.81	-1.21	-3.13	-6.04	-5.21	-5.30	-5.44	-5.14	-5.59	-7.21
Cash from Investing Activity	-1.67	0.23	-0.83	-1.06	-9.30	-19.12	-6.47	8.58	-0.63	-31.21
Net Fixed Assets Purchased	-0.79	-0.23	-0.83	-1.06	-0.87	-2.46	-4.88	-6.54	-3.77	-3.96
Fixed Assets Purchased	-0.79	-0.23	-0.83	-1.06	-0.87	-2.46	-4.88	-6.54	-3.77	-3.96
Fixed Assets Sold	—	—	—	—	—	—	—	—	—	—
Investment Purchased	-0.88	—	—	—	-8.44	-16.66	-8.50	—	—	—
Investment Sold	—	0.46	—	—	—	0.00	6.91	15.12	3.14	—
Interest Recieved	—	—	—	—	—	—	—	—	—	—
Dividends Recieved	—	—	—	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	16.40	44.12	74.39	88.91	-9.39	40.11	0.88	73.23	139	173
Proceeds From Shares	—	15.19	—	—	—	—	—	—	4.50	—
Net Long Term Borrowings	14.16	31.37	73.15	88.91	-9.39	40.11	0.88	70.73	134	93.21
Proceeds From Borrowings	14.16	31.37	73.15	88.91	—	40.11	0.88	70.73	134	93.21
Repayment From Borrowings	—	—	—	—	-9.39	—	—	—	—	—
Interest Paid	—	—	—	—	—	—	—	—	—	—
Dividend Paid	—	—	—	—	—	—	—	—	—	—
Net Cash Flow	1.86	20.06	-16.36	21.38	4.75	-5.88	-2.14	-1.41	-2.21	10.22
Opening Cash & Cash Equivalents	0.27	2.13	22.19	6.76	28.14	32.89	27.01	24.87	23.46	21.25
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	2.13	22.19	5.83	28.14	32.89	27.01	24.87	23.46	21.25	31.47
Net Capex (est)	0.79	0.23	0.83	1.06	0.87	2.46	4.88	6.54	3.77	3.96
Free Cash Flow (est)	-13.67	-24.52	-90.75	-67.53	22.58	-29.33	-1.44	-89.76	-144	-135

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	7.03	1.38	2.50	1.04	3.78	5.01	4.46	3.62	2.57	2.11
Liquid Assets (Crs)	10.00	18.67	42.11	40.60	37.94	50.36	61.22	62.96	43.22	39.07
Current Liabilities (Crs)	1.42	13.56	16.85	38.93	10.04	10.05	13.72	17.39	16.84	18.48
Current Ratio	7.03	1.38	2.50	1.04	3.78	5.01	4.46	3.62	2.57	2.11
Current Assets (Crs)	10.00	18.67	42.11	40.60	37.94	50.36	61.22	62.96	43.22	39.07
Current Liabilities (Crs)	1.42	13.56	16.85	38.93	10.04	10.05	13.72	17.39	16.84	18.48
Interest Coverage Ratio	1.95	1.68	1.70	1.99	1.84	1.74	1.77	1.84	1.57	1.51
EBIT (Crs)	4.66	6.81	9.77	22.39	42.59	52.87	54.64	56.08	58.19	76.91
Interest Expenses (Crs)	2.39	4.04	5.74	11.27	23.12	30.38	30.86	30.55	37.15	50.81
Fixed Asset Turnover	11.94	7.48	9.12	14.09	17.24	9.00	8.54	7.19	3.06	3.29
Net Sales (Crs)	6.87	10.22	14.53	34.13	57.85	71.32	73.60	79.21	91.39	125
Fixed Assets (Crs)	0.58	1.37	1.59	2.42	3.36	7.93	8.62	11.01	29.87	37.89
Cash Conversion Cycle	0.00	0.00	-93.23	-38.66	-25.06	-12.96	0.00	0.00	0.00	0.00
Inventory Days	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Receivable	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable	—	—	93.23	38.66	25.06	12.96	—	—	—	—
Debt to Equity Ratio	1.69	2.52	2.21	3.97	4.50	3.28	3.05	2.52	2.68	3.08
Total Debt (Crs)	24.89	41.29	75.04	167	255	246	286	287	357	491
Shareholders Equity (Crs)	14.71	16.41	33.97	42.03	56.70	74.86	93.61	114	133	160
Free Cash Flow/Sales (%)	-140	-134	-169	-266	-117	31.66	-39.85	-1.81	-98.21	-115
Free Cash Flow(est) (Crs)	-9.60	-13.67	-24.52	-90.75	-67.53	22.58	-29.33	-1.44	-89.76	-144
Net Sales (Crs)	6.87	10.22	14.53	34.13	57.85	71.32	73.60	79.21	91.39	125
Profitability Ratios
Gross Margin (%)	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
Op Profit Margin (%)	68.95	67.13	69.23	66.51	74.10	75.31	72.81	71.52	64.66	64.76
Operating Profit (Crs)	4.74	6.90	10.09	22.83	43.14	55.00	56.66	58.25	61.65	82.68
Net Sales (Crs)	6.87	10.22	14.53	34.13	57.85	71.32	73.60	79.21	91.39	125
Net Profit Margin (%)	22.34	18.28	18.64	23.67	25.31	25.20	25.59	25.65	18.66	16.87
Net Profit (Crs)	1.54	1.87	2.71	8.08	14.64	17.97	18.83	20.32	17.06	21.06
Net Sales (Crs)	6.87	10.22	14.53	34.13	57.85	71.32	73.60	79.21	91.39	125
ROCE (%)	11.80	14.88	10.22	12.52	13.74	16.60	14.50	14.10	11.95	11.89
EBIT (Crs)	4.66	6.81	9.77	22.39	42.59	52.87	54.64	56.08	58.19	76.91
Capital Employed (Crs)	39.49	45.80	95.60	179	310	318	377	398	487	647
Return on Assets (%)	3.75	3.15	2.41	3.71	4.58	5.47	4.82	4.90	3.39	3.17
Net Profit (Crs)	1.54	1.87	2.71	8.08	14.64	17.97	18.83	20.32	17.06	21.06
Total Assets (Crs)	40.92	59.36	112	218	320	328	391	415	504	665
ROIC (%)	37.42	115	75.67	825	685	264	137	114	137	187
Op Profit after Taxes (Crs)	3.15	4.57	6.55	16.17	31.83	41.22	40.85	43.37	45.10	60.55
Invested Capital (Crs)	8.43	3.96	8.65	1.96	4.64	15.60	29.89	38.13	33.02	32.33
ROE (%)	10.44	11.38	7.97	19.22	25.83	24.01	20.12	17.87	12.80	13.19
Net Profit Margin (%)	22.34	18.28	18.64	23.67	25.31	25.20	25.59	25.65	18.66	16.87
Asset Turnover ratio	0.17	0.17	0.13	0.16	0.18	0.22	0.19	0.19	0.18	0.19
Equity Multiplier	2.78	3.62	3.31	5.18	5.64	4.39	4.17	3.65	3.78	4.17
Adjusted EPS	1.36	1.65	2.08	6.21	11.26	13.82	14.49	15.63	13.12	15.83
Valuation Ratios
P/E	70.71	42.41	58.38	47.72	22.46	3.60	14.77	8.10	11.18	17.04
Price to Book	7.69	4.90	4.67	9.17	5.80	0.86	2.97	1.45	1.46	2.27
EV/EBITDA	28.11	17.16	20.91	23.94	12.88	5.04	9.48	7.32	8.51	10.02
Dividend Yield (%)	0.26	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Quarterly Results

SRG Housing Finance Ltd.
Star Housing Finance
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Reliance Home Financ
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	22.72	26.24	26.84	30.22	31.74	36.15	33.77	36.06	38.94	42.75
Operating Expenses	8.53	9.95	9.53	10.19	10.86	13.54	11.56	11.97	14.86	17.44
Increase/Decrease in Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Raw Material	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee Cost	4.97	5.31	5.93	6.71	7.02	7.64	8.09	8.66	9.68	10.98
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.63	0.94	0.70	0.20	0.26	0.23	0.11	-0.61	1.04	1.07
Operating Profit	14.20	16.29	17.31	20.03	20.88	22.60	22.21	24.09	24.09	25.32
Other Income	0.99	0.22	0.01	0.98	0.47	0.41	0.21	0.78	1.30	0.74
Interest	10.06	10.17	10.93	13.12	13.07	13.69	14.03	14.92	16.51	16.59
PBDT	5.12	6.34	6.38	7.89	8.28	9.32	8.40	9.96	8.88	9.46
Depreciation and Amortization	0.87	0.97	1.18	1.30	1.58	1.71	1.52	1.62	1.71	1.79
Profit Before Tax	4.26	5.37	5.21	6.59	6.70	7.61	6.88	8.33	7.17	7.67
Tax	0.67	1.19	0.81	1.32	1.38	1.52	1.02	1.73	1.43	1.48
Profit After Tax	3.58	4.18	4.39	5.26	5.32	6.08	5.86	6.60	5.74	6.19
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	3.58	4.18	4.39	5.26	5.32	6.08	5.86	6.60	5.74	6.19
Quarterly Ratios
EPS	2.76	3.21	3.38	4.05	4.09	4.58	4.40	4.63	4.01	3.95
Operating Profit Margin	62.48	62.09	64.48	66.28	65.77	62.53	65.77	66.79	61.85	59.21
Net Profit Margin	15.77	15.92	16.37	17.42	16.75	16.83	17.35	18.31	14.75	14.48

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

26.60%

Implied Growth Rate over a 5 year period*

7.50%

Implied Growth Rate over a 10 year period*

3.00%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on SRG Housing Finance Ltd. Financials

How strong is SRG Housing balance sheet?

Latest balance sheet of SRG Housing is strong. Strength was visible historically as well.

Is the profitablity of SRG Housing improving?

Yes, profit is increasing.
The profit of SRG Housing is ₹24.4 Crs for TTM, ₹21.06 Crs for Mar 2024 and ₹17.06 Crs for Mar 2023.

Does SRG Housing pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
SRG Housing latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

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SRG Housing Finance Ltd.

SRG Housing Finance Ltd.

Has the share price of SRG Housing grown faster than its competition?

Is SRG Housing stock expensive?

How strong is SRG Housing balance sheet?

Is the profitablity of SRG Housing improving?

Does SRG Housing pay decent dividends?

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