Housing & Urban Development Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
HUDCO · price
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HUDCO reported total income of Rs. 13,150 crore for FY2026, up 27.5% from Rs. 10,311 crore in FY2025. Net profit after tax surged 49% to Rs. 4,034 crore, boosted by reversal of Rs. 1,533 crore deferred tax liability on special reserve (Section 36(1)(viii)). However, profit before tax declined 11% to Rs. 3,221 crore. Borrowings increased significantly with outstanding debt rising to Rs. 1,41,390 crore from Rs. 1,07,281 crore. The debt-equity ratio worsened to 6.43 from 5.72. The board recommended final dividend of Rs. 1.50 per share, adding to Rs. 4.55 per share already paid as interim dividends. Auditors issued clean (unmodified) opinion. HUDCO launched maiden 54EC Capital Gain Bonds raising Rs. 121 crore. Statutory auditors flagged non-compliance with SEBI LODR regarding independent directors composition and pending RBI approval on infrastructure finance exposure criteria.
Strong PAT growth driven by tax reversal is positive but one-off in nature. Significantly higher debt levels and worsening debt-equity ratio to 6.43x raise concerns about leverage. The non-compliance with board composition norms and pending RBI conditions could attract regulatory scrutiny. Dividend payout is shareholder-friendly.