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RATING

RECOMMENDATION

Buy

Business Type

Emerging Leader

  • Motilal Oswal Home Finance Ltd. Unlisted Shares Essentials

ISIN

INE658R01011

Face Value

₹1.00

Total Share

6,01,78,47,765

Total Income

₹54,552.19 L

Profit After Tax

₹4,022.89 L

Promoter Holding

₹97.86 %

EPS

₹0.07

Book Value

₹1.50 L

Intrinsic Value

₹4.71

Sector

Financials

Sub-sector

Home Financing

Cashflow - Operations

₹22,817.01 L

Cashflow - Financing

-₹348.01 L

Motilal Oswal Home Finance Ltd. Growth

Compounded Sales Growth

  • -5.36%

    1 Year

  • -8.28%

    2 Year

  • -6.66%

    3 Year

Pro Only

Compounded Profit Growth

  • 2.95%

    1 Year

  • NA

    2 Year

  • 27.93%

    3 Year

Pro Only

Return On Equity

  • 4.53%

    1 Year

  • 4.61%

    2 Year

  • -16.84%

    3 Year

Pro Only

About Motilal Oswal Home Finance Ltd.

Overview: 

  • Motilal Oswal Home Finance Ltd. (MOHFL) provide home loans to individuals and families for purchase, construction and extension of house.
  • Motilal Oswal Home Finance (MOHFL) is a subsidiary of Motilal Oswal Financial Services Limited (MOFSL). MOFSL is a well-diversified financial services company.
  • MOHFL is registered with National Housing Bank (NHB) as a Housing Finance Company.
  • The Company was previously known as Aspire Home Finance.
  • Motilal Oswal Home Finance Company works on the philosophy of financial inclusion of Lower and Middle Income Indian families by providing them access to long term housing finance.
  • CRISIL has upgraded MOHFL’s rating to AA- (stable outlook) from earlier A+ (stable).
  • Motilal Oswal Home Finance Ltd. is a subsidiary of Motilal Oswal Financial Services, and MOHFL owns 97.86% of shares in MOFS
Key client base:
  • The key cliental of the Banks are medium and lower middle-income families.

  • Motilal Oswal Home Finance Ltd. Product & Services

The Products:

  • Home Loans
  • Construction Loans
  • Home Improvement Loans
  • Pradhan Mantri Awas Yojana (PMAY)

Other Services offered by the Company include:
  • Property Services – sale/rent/resale etc.

  • Motilal Oswal Home Finance Ltd. Industry Overview

Industry Statistics

Introduction: 

  • Non-bank lenders have grown significantly in the last decade driven by regulatory reforms and critical evaluation of their business models.
  • Non-bank lenders have financed over 10 Cr. customers till date deriving strength from their extensive footprint which is largely located in rural and semi-urban areas.
  • The overall credit deployed by non-bank lenders is over INR 35.9 lakh Cr. (as on Sept-2019) and contribute to ~25% of the domestic credit in the system.
  • As per ICRA, over the medium and long term, it is expected the industry to grow in the range of 7-8% driven by growth in affordable housing space and easing out of liquidity concerns. As per CRISIL report, India’s Mortgage Penetration Expected to Touch 15% by 2024 from currently ~12.4%.
  • As per ICRA’s report, the total outstanding housing credit as on December 2020 stood at R 22.1 lakh crores. Out of the total outstanding credit, Housing Finance Companies (HFCs) and Non-Banking Financial Corporations (NBFCs) contributed around R 7.2 lakh crores.
Market size: 
  • The asset size of NBFC sector (including HFCs), as on March 31, 2020, is Rs.51.47 lakh crore3
  • Between March 31, 2009 and March 31, 2019, the total assets of NBFCs grew at a compounded annual growth rate (CAGR) of 18.6 per cent

Future Prospects

  • Mr. Arvind Hali is appointed as Managing Director and Chief Executive Director of the company.


  • Mrs. Divya Momaya is reappointed as Independent Director of the company.


Government Initiatives

Investment scenarios: 

As part of response to the economic challenges faced by the industry, RBI has been announcing various measures like Targeted Long-term Repo Operations-2(TLTRO-2), Relaxation of asset classification norms, which will aid in liquidity flow into the system and should give relief to NBFCs.

The government’s focus on ‘Housing for All by 2022’ has been undeterred in the last five years. The housing finance industry has been able to report a growth of 13% CAGR over FY2018-2020.


Motilal Oswal Home Finance Ltd. Awards & Achievements

  • Company was awarded “Digital Excellence in Urban Finance” at the Digital Customer Excellence Awards,2019
  • Awarded the Customer Excellence Award at the India CX SUMMIT & AWARDS, 2019.
  • Company was awarded “The Innovative Marketing Practices Award” & the Innovative Product and Services Award” at 7th National Conference and Game Changers Awards, 2017.

Motilal Oswal Home Finance Ltd. Strengths

  • Company have vast distribution network, with 104 branches in 9 states.
  • Capital adequacy ratio is well above 15% (set by RBI).
  • Company registered a robust PBT growth of 48% YoY.
  • In FY21, company launched PMAY portal and have started on-boarding partners through our Digital MO Partner app.
  • CRISIL has upgraded MOHFL’s rating to AA- (stable outlook) from earlier A+ (stable).

Motilal Oswal Home Finance Ltd. Shortcomings

  • Regulatory restrictions – continuously evolving government regulations may impact operations.
  • Company GNPA has increased from 1.8% in 2019 to 2.2% in 2020.

Motilal Oswal Home Finance Ltd. Opportunities

  • There is large untapped rural and urban market which can’t get housing loans from traditional banks so MOHFL can increase its penetration in those markets.
  • Company can use digital solutions for business/collections this will improve efficiency and reduce cost of operations.
  • Structurally, the potential for housing segment growth continues to remain robust with favorable demographical drives like urbanization, nuclearization of families, rising disposable income and working age population so MOHFL have huge opportunities to grow in future.  

Motilal Oswal Home Finance Ltd. Threats

  • There is increase in competition from other HFCs and banks.
Motilal Oswal Home Finance Ltd. Rating

  • RECOMMENDATION

    Buy

  • Motilal Oswal Home Finance Ltd. Detail Info

Registered In

India

Registered Date

19/05/2014

Stock Exchange Ticker

MoHF

Reg Office: Motilal Oswal Home Finance Ltd., Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai – 400025

Website: https://www.motilaloswalhf.com/