LODHA.NS Lodha Developers Limited
INR·Price 930.65·Mkt cap 929.64BComputed from the latest reported financials and the current market price.
Who's the real player?
A genuine play on this theme — most of its business sits right here.
Is the business healthy?
Shaky fundamentals — weak cash generation or a stretched balance sheet. Tread carefully.
- ⚠Weak FCF conversion (<50% of net income turns into free cash)
- ⚠Receivables growing much faster than revenue (channel-stuffing risk)
- Strong growth quality
- Good capital efficiency
- Solid operating and net margins
Are the smart people buying?
No ownership-change data for this stock. Conviction is judged from capex and buyback signals alone.
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 72.87 vs price 930.65 — screens expensive on a cash-flow DCF (-92.2% to intrinsic). The base FCF growth assumption is 0%, which may be unrealistic unless the company is in a mature or declining phase.
| Intrinsic / share | 72.87 |
| Price | 930.65 |
| Upside to intrinsic | -92.2% |
| Reverse-DCF implied g | 26.7% |
Base FCF 13.81B · growth 0.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | -4% | -2% | 0% | 2% | 4% |
| 10% | 72.91 | 96.79 | 124.87 | 157.87 | 196.56 |
| 11% | 52.4 | 71.84 | 94.62 | 121.28 | 152.44 |
| 12% | 37.57 | 53.86 | ★ 72.87 | 95.05 | 120.9 |
| 13% | 26.31 | 40.25 | 56.46 | 75.31 | 97.21 |
| 14% | 17.43 | 29.55 | 43.61 | 59.9 | 78.76 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 2 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.42
- Solid liquidity (current ratio ≥ 1.5) — now 1.75
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 3 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Very low debt (D/E ≤ 0.5) — now 0.42
- Consistent revenue (consistency ≥ 80%) — now 89.4%
- Positive net margin — now 20.6%
- High returns on capital (ROCE ≥ 18%) — now 16.4%
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 2 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 20.6%
- Conservative leverage (D/E ≤ 1.0) — now 0.42
- ROE ≥ 18% — now 14.7%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 3 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 20.6%
- Positive free cash flow — now 4.3%
- Conservative leverage (D/E ≤ 1.0) — now 0.42
- ROE ≥ 15% — now 14.7%
- Trades below intrinsic value (margin of safety ≥ 0) — now -1177.1%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 2 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- High returns on capital (ROCE ≥ 15%) — now 16.4%
- Conservative leverage (D/E ≤ 1.0) — now 0.42
- ROE ≥ 15% — now 14.7%
- Trades below intrinsic value (margin of safety ≥ 0) — now -1177.1%
- A high-quality, understandable business
- A durable moat
- Management of integrity
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 89.4%
- Quality: ROCE ≥ 18% — now 16.4%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.42
- ROE ≥ 15% — now 14.7%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Strong liquidity (current ratio ≥ 1.5) — now 1.75
- Debt below equity (D/E ≤ 1.0) — now 0.42
- P/E ≤ 15 — now 27.05
- P/B ≤ 1.5 — now 3.98
- Graham number: P/E × P/B ≤ 22.5 — now 107.7
- Financially safe (Altman Z ≥ 3) — now 2.92
- A long record of stable earnings
- An uninterrupted dividend history
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 166.76B | 137.79B | 101.98B | 93.35B | — |
| Operating income | 45.76B | 37.16B | 41.74B | 19.85B | — |
| EBITDA | 53.73B | 43.77B | 31.50B | 18.65B | — |
| Net income | 34.28B | 27.64B | 15.49B | 4.87B | — |
| Operating cash flow | 9.59B | 15.66B | 25.12B | 27.50B | — |
| Capex | -2.50B | -4.74B | -1.70B | -904.00M | — |
| Free cash flow | 7.09B | 10.91B | 23.43B | 26.60B | — |
| Total assets | 589.37B | 498.41B | 472.25B | 391.55B | — |
| Total equity | 232.86B | 201.78B | 174.69B | 126.63B | — |
| Total debt | 98.96B | 70.94B | 76.98B | 90.60B | — |
| Cash & equivalents | 27.03B | 9.34B | 18.27B | 13.11B | — |