Indiabulls Housing Finance on 14 Aug released its first quarter results of FY24 , the company posted net profit of 296 cr and revenue of 1900 cr , this companies share’s used to trade around 1300 levels at its peak but reached an all time low of 90 rs in March 2020 the major reasons for this downfall are bad financials and decrease in promoter shareholding. IHF was able to generate revenue of 12000crs and net profit of 3500 crs in FY18 compared to this the profit company is able to generate decreased ten times so did the share price
Is it a right time to buy this share ? Well , the P/B ratio and PE ratio suggests that it can be a good buy but only if it can maintain stable financials and some growth, IHF holds a decent market share in housing finance space even though it’s competitors include giants like HDFC & LIC housing finance
