NBFC – Non-Banking Financial Companies Credit
Analysis Prepare a Note for NBFC by covering the following
parameters
About the Company: PNB Housing Finance Limited
Incorporation Date: November 11, 1988
Company Structure: Public Limited Company; listed on BSE & NSE; registered with
NHB (National Housing Bank)
S.N
o Name of Equity shareholders Amount Invested (INR Crores) % of Total Shares
1 Punjab National Bank ~709.68~709.68 32.27%
2 Pluto Investments S.a.r.l. (Carlyle) ~650.00 29.85%
3 Public Shareholders (FIIs, DIIs, Retail) --- 37.58%
4
Shareholding Pattern (%)
About Board of Directors / Key Management Personnel
S.
No Name Designation Key Roles &Experience
1 Mr. Hardayal Prasad
2 M
3
4
5
6
7
8
9
1
0
Brief Introduction about the Promoter Group
Product Offerings
Product Product Product
Product
Category -1 Category -2 Category -3
Loan Amount
Tenure
Eligibility
Interest Rate
(%)
Customer Type
End use of Loan
Loan to Value
(LTV %)
Average Ticket
Size
Sector wise split of loan portfolio
S.N Industry No of % of Total
o Segment Loans Loans
Physical
Presence in States
S. Top 5 Percentage
No. States of AUM
1
2
3
4
5
Total
Portfolio Breakup – Secured Vs Unsecured
Type of Amount (Rs
Loans Crore)
Secured
Unsecured
Total AUM
Borrowers Breakup of Portfolio – Salaried, Self-Employed Professionals and
Self-Employed Non-Professionals (Relevant in case of personal loans and
home loans )
Amount (Rs
Type of Loans
Crore)
Salaried
Self Employed
Professionals
Self-Employed Non-
Professionals
Total AUM
Lenders Details (Top 10 Lender wise details)
Type of Instrum Bank Amount ( ₹
S. No Facility ent Name Crores )
1
2
3
4
5
6
7
8
9
10
Total
Equity Infusion (Over Last Five Years Equity Raised)
Yea Investors Amt (INR
Details
rs Details Crores)
Source of Funds – Term loans, Securitization, Direct Assignment, Pass through
certificate (PTC), Non-Convertible Debentures.
S.N Source of Percentage (%) of Total
o Funds Amount
Operational Highlights
S. FY FY FY FY
Particulars
No 2021 2022 2023 2024
1 No of Borrowers
2 No of Employees
No of Active
3
Customers
No of Loans
4
Disbursed
Credit Rating History
Credit Rating FY 2021 FY 2022 FY 2023 FY 2024
NCD
Bank Loans
Commercial
Paper
Principal
protected
market-linked
debenture (PP-
MLD)
RBI / Sebi Penalty in recent past
Recent News of the company
(Refer Sources like – Audited Financials, Information Memorandum – can get
easily access through Bondbazaar Platform or NSDL.Bonds , Investor Deck ,
Company’s website and Credit Rating Rational)
Do Strength Weakness Opportunity & Threat (SWOT Analysis) for the
particular NBFC
Go through these guidelines of regulatory authority – Reserve Bank of India
by visiting their site (Write a brief about the same)
RBI Master Circular – with respective to NBFC guidelines
NBFC Classification
Capital Adequacy Ratio (CAR)
Exposure Limits & Lending Guidelines
Asset Classification & Provisioning Norms
RBI’s Scale-Based Regulation (SBR) Framework
Base Layer (BL) – Small NBFCs
Middle Layer (ML) – Larger NBFCs
Upper Layer (UL) – Systemically Important NBFCs
Conduct a financial analysis of an NBFC using historical data from the past
four years, focusing on the following key parameters as mentioned below.
Conduct Peer Comparable Analysis using these parameters. Give the
investment rational for the same.
FY FY FY FY
Particulars
2021 2022 2023 2024
Income Statement
Parameters
Total Income
PAT
Opex (%)
Net Interest Margin (%)
Spread (%)*
Balance Sheet
Parameters
Net worth
Loan Book
Gross Borrowings
Cash & Cash Equivalents
Net Borrowings
Debt to Equity
Net Debt to Equity
Asset Quality Indicators
Capital Adequacy Ratio
(CAR %)
NNPA (%)
GNPA (%)
Provision Coverage Ratio
(%)
Credit Cost (%)**
Profitability Ratios (%)
Return on Equity (%)
Return on Assets (%)
Others
Asset Under Management
(AUM)
Cost to Income Ratio
(%)***
Credit Rating (If Available)
Notes:
*For Calculation of Spread (%):
FY FY FY FY
Particulars (INR Crores)
2021 2022 2023 2024
Spread (%) (Interest Charged – Cost
of Funds)
Interest Charged:
Interest Income
Average loan Portfolio
Cost of Funds:
Interest Exp
Average Borrowing
** For Calculation of Credit Cost (%)
Particulars (INR FY FY FY FY
Crores.) 2021 2022 2023 2024
Provisions
Write offs
Average Loan
Portfolio
Credit Cost (%)
*** For Calculation of Cost
to Income (%)
Particulars (INR FY FY FY FY
Crores) 2021 2022 2023 2024
Revenue from
Operations
Finance Cost
Employee Benefit
Expense
Other Expense
Cost to Income
Ratio (%)
