Reappointment of Joint Internal Auditors of the Company for FY27
HOMEFIRST · price
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Home First Finance Company reported strong FY26 results with total income of Rs 19,227 million (up 25% YoY) and profit after tax of Rs 5,404 million (up 41% YoY). The loan book grew to Rs 1,31,326 million from Rs 1,06,487 million. EPS improved to Rs 52.35 from Rs 42.83. The Board recommended dividend of Rs 5.20 per share (260% of face value), up from Rs 3.70. The company appointed Batliboi & Purohit as new Joint Statutory Auditors for 3 years due to RBI guidelines for NBFCs with asset size over Rs 15,000 crores. It also reappointed three joint internal auditors and two independent directors for their second terms. The Board approved issuing NCDs up to Rs 1,000 crores via private placement. Statutory auditors gave an unmodified opinion on the financial results.
The 41% PAT growth reflects strong operational performance in affordable housing finance. The increased dividend (40% hike) signals confidence in future cash flows. The NCD issue of up to Rs 1,000 crores will help fund loan book growth. The nominee director stepping down may have governance implications but appears non-material.