GIC Housing Finance Limited (GICHSGFIN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-51.6%

₹59.05

vs ₹122.04 price

Levered DCF

₹4,083.63

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	4.57×	5.72×	7.56×	3.91×	4.06×	5.95×	7.01×	8.59×
P/B	0.34×	0.47×	0.63×	0.49×	0.47×	0.46×	0.25×	1.18×
P/S	0.65×	0.88×	1.11×	0.77×	0.62×	0.51×	0.26×	1.2×
EV / EBITDA	57.5×	43.03×	43.89×	32.96×	44.06×	83.88×	100×	52.81×
Gross margin	34.5%	27.1%	26.6%	31.3%	35.4%	30.1%	21.9%	27.3%
Operating margin	21.0%	18.3%	18.2%	24.8%	29.6%	25.4%	16.8%	22.8%
Net margin	14.3%	15.5%	14.7%	19.7%	15.3%	8.7%	3.7%	14.0%
Current ratio	0.01×	0.3×	0.25×	0.25×	0.34×	0.23×	0.25×	0.21×
Debt / equity	4.33×	4.45×	4.69×	5.4×	6.86×	8.27×	9.32×	9.3×
Interest coverage	0×	112.85×	113.92×	175.82×	249.17×	247.41×	153.05×	0×
Dividend yield	3.4%	2.6%	2.1%	2.9%	3.1%	1.7%	11.2%	2.4%
Payout ratio	15.7%	15.1%	16.0%	11.4%	12.4%	10.2%	78.3%	20.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.3%	8.2%	8.3%	12.5%	11.5%	7.8%	3.6%	13.7%
Return on invested capital	2.0%	1.4%	1.3%	1.8%	2.1%	1.9%	0.7%	1.5%
Return on assets	1.4%	1.5%	1.4%	2.0%	1.5%	0.8%	0.3%	1.3%
Free cash flow yield	51.5%	-2.1%	45.3%	124.4%	181.6%	84.8%	2.4%	-111.6%
Earnings yield	21.9%	17.5%	13.2%	25.6%	24.6%	16.8%	14.3%	11.6%
Enterprise value	₹97.9B	₹96.1B	₹96.9B	₹99.3B	₹105.9B	₹117.7B	₹119.8B	₹130.9B
Net debt / EBITDA	53.34×	38.93×	38.71×	30.19×	41.13×	79.4×	97.33×	46.86×
Cash conversion cycle (days)	-8	-10	-10	179	178	-16	-19	-19