WEBSITE BSE:511473 NSE: IND.BANK MER Inc. Year: 1989 Industry: Finance - Stock Broking My Bucket: Add Stock
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Indbank Merchant Banking Services Limited (INDBANK) is a public limited company that is a wholly owned subsidiary of Indian Bank, a nationalized bank in India. The company was incorporated in 1989 to take over the business of the merchant banking division of Indian Bank and to undertake other specialized activities like leasing, hire purchase, etc. It is listed on the BSE and NSE stock exchanges and has a market capitalization of Rs. 190 crore. The company offers various services, such as merchant banking and advisory services, stock broking, d...Read More
Indbank Merchant Banking Services Limited (INDBANK) is a public limited company that is a wholly owned subsidiary of Indian Bank, a nationalized bank in India. The company was incorporated in 1989 to take over the business of the merchant banking division of Indian Bank and to undertake other specialized activities like leasing, hire purchase, etc. It is listed on the BSE and NSE stock exchanges and has a market capitalization of Rs. 190 crore. The company offers various services, such as merchant banking and advisory services, stock broking, depository participant activities, and distribution of mutual fund and other investment products. The company is managed by the president and whole time director under the supervision of the board of directors of the company. Company is promoted by Indian Bank, which holds 64.84% of the shareholding. ...Read Less
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Market Cap ₹153 Cr.
Stock P/E 18.1
P/B 1.6
Current Price ₹34.6
Book Value ₹ 22.2
Face Value 10
52W High ₹47
Dividend Yield 0%
52W Low ₹ 29
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 7 | 7 | 8 | 8 | 6 | 5 | 7 | 6 | 6 | 6 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 7 | 7 | 8 | 8 | 6 | 5 | 7 | 6 | 6 | 6 |
| Total Expenditure | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Operating Profit | 3 | 3 | 4 | 5 | 2 | 2 | 3 | 3 | 3 | 2 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 3 | 4 | 4 | 2 | 2 | 3 | 3 | 3 | 2 |
| Provision for Tax | 1 | 2 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Profit After Tax | 3 | 2 | 3 | 3 | 1 | 1 | 2 | 2 | 2 | 1 |
| Adjustments | -0 | 1 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | 3 | 3 | 3 | 3 | 1 | 1 | 2 | 2 | 2 | 1 |
| Adjusted Earnings Per Share | 0.6 | 0.3 | 0.6 | 0.7 | 0.3 | 0.3 | 0.5 | 0.4 | 0.4 | 0.2 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 9 | 8 | 9 | 12 | 8 | 9 | 12 | 21 | 18 | 25 | 27 | 25 |
| Other Income | 10 | 3 | 8 | 3 | 4 | 8 | 7 | 4 | 0 | 0 | 0 | 0 |
| Total Income | 19 | 11 | 17 | 15 | 12 | 17 | 19 | 24 | 18 | 25 | 27 | 25 |
| Total Expenditure | 12 | 7 | 10 | 9 | 9 | 12 | 13 | 14 | 12 | 13 | 15 | 16 |
| Operating Profit | 7 | 4 | 7 | 6 | 4 | 5 | 7 | 10 | 6 | 12 | 12 | 11 |
| Interest Expense | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 6 | 3 | 6 | 4 | 2 | 3 | 5 | 9 | 5 | 12 | 11 | 11 |
| Provision for Tax | 1 | 0 | 0 | 2 | 0 | 1 | 1 | 2 | 2 | 4 | 3 | 4 |
| Profit After Tax | 5 | 3 | 5 | 2 | 2 | 2 | 4 | 7 | 3 | 8 | 8 | 7 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Profit After Adjustments | 5 | 3 | 5 | 2 | 2 | 2 | 4 | 7 | 4 | 9 | 8 | 7 |
| Adjusted Earnings Per Share | 1.1 | 0.6 | 1.2 | 0.5 | 0.4 | 0.5 | 0.9 | 1.6 | 0.6 | 1.8 | 1.9 | 1.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 8% | 9% | 25% | 12% |
| Operating Profit CAGR | 0% | 6% | 19% | 6% |
| PAT CAGR | 0% | 5% | 32% | 5% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 10% | 9% | 20% | 17% |
| ROE Average | 10% | 8% | 8% | 7% |
| ROCE Average | 13% | 12% | 12% | 11% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 46 | 49 | 54 | 57 | 58 | 60 | 64 | 71 | 75 | 83 | 92 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Liability | 6 | 9 | 11 | 10 | 10 | 14 | 20 | 21 | 23 | 24 | 28 |
| Other Liabilities & Provisions | -4 | -4 | -4 | -4 | -4 | -4 | -3 | 0 | 2 | 0 | 0 |
| Total Liabilities | 48 | 53 | 61 | 63 | 64 | 70 | 81 | 92 | 99 | 107 | 120 |
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3 | 3 | 5 | 4 | 3 | 3 | 1 | 1 | 1 | 2 | 2 |
| Fixed Assets | 5 | 5 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Other Loans | 0 | 0 | 12 | 12 | 12 | 13 | 13 | 14 | 15 | 0 | 0 |
| Other Non Current Assets | 0 | 0 | 9 | 15 | 5 | 14 | 18 | 0 | 0 | 10 | 7 |
| Current Assets | 40 | 46 | 34 | 31 | 44 | 40 | 45 | 73 | 80 | 91 | 108 |
| Total Assets | 48 | 53 | 61 | 63 | 64 | 70 | 81 | 92 | 99 | 107 | 120 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 4 | 1 | 0 | -0 | 0 | 7 | 12 | 11 | 9 | 2 | 1 |
| Cash Flow from Operating Activities | 1 | 4 | 6 | 5 | 5 | 15 | 8 | 1 | -5 | -1 | 0 |
| Cash Flow from Investing Activities | -4 | -5 | -6 | -3 | -3 | -10 | -8 | -1 | -1 | -0 | 1 |
| Cash Flow from Financing Activities | 0 | 0 | 0 | -1 | 0 | 0 | -2 | -2 | -1 | -0 | -0 |
| Net Cash Inflow / Outflow | -3 | -0 | -1 | 1 | 2 | 5 | -2 | -2 | -7 | -1 | 1 |
| Closing Cash & Cash Equivalent | 1 | 0 | -0 | 0 | 2 | 12 | 10 | 9 | 2 | 1 | 1 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.12 | 0.62 | 1.2 | 0.5 | 0.4 | 0.47 | 0.91 | 1.57 | 0.62 | 1.81 | 1.91 |
| CEPS(Rs) | 1.32 | 0.78 | 1.32 | 0.6 | 0.45 | 0.54 | 0.96 | 1.61 | 0.7 | 1.9 | 2.01 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 10.43 | 11.05 | 12.25 | 12.73 | 13.12 | 13.57 | 14.48 | 16.03 | 16.79 | 18.79 | 20.65 |
| Net Profit Margin | 54.34 | 36.21 | 57.99 | 19.03 | 21.75 | 23.82 | 33.79 | 33.76 | 14.95 | 32.25 | 31.61 |
| Operating Margin | 67.48 | 42.74 | 69.92 | 47.51 | 41.17 | 50.87 | 53.37 | 48.9 | 32.69 | 47.06 | 43.92 |
| PBT Margin | 64.32 | 41.24 | 61.15 | 33.99 | 22.3 | 33.52 | 40.66 | 41.47 | 27.82 | 46.75 | 42.95 |
| ROA(%) | 10.6 | 5.42 | 9.31 | 3.59 | 2.78 | 3.1 | 5.35 | 8.04 | 2.85 | 7.79 | 7.46 |
| ROE(%) | 11.34 | 5.78 | 10.32 | 4.01 | 3.08 | 3.53 | 6.52 | 10.28 | 3.75 | 10.18 | 9.67 |
| ROCE(%) | 14.08 | 6.82 | 12.26 | 9.85 | 5.82 | 7.53 | 10.3 | 14.9 | 8.05 | 14.6 | 13.44 |
| Price/Earnings(x) | 9.27 | 11.28 | 10.74 | 38.58 | 23 | 10.52 | 13.92 | 13.8 | 34.19 | 23.69 | 14.71 |
| Price/Book(x) | 1 | 0.63 | 1.05 | 1.52 | 0.7 | 0.36 | 0.88 | 1.35 | 1.25 | 2.28 | 1.36 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.23 | 1.25 | 4.11 | 5.74 | 0.79 | -1.52 | 1.62 | 1.45 | 1.44 | 5.12 | 1.59 |
| EV/Core EBITDA(x) | 4.21 | 2.37 | 5.39 | 11.21 | 1.83 | -2.8 | 2.95 | 2.91 | 4.15 | 10.53 | 3.5 |
| Interest Earned Growth(%) | 50.91 | -17.1 | 20.93 | 26.77 | -30.41 | 8.05 | 36.94 | 71.71 | -11.39 | 36.37 | 7.43 |
| Net Profit Growth | 358.63 | -44.76 | 93.7 | -58.39 | -20.5 | 18.33 | 94.31 | 71.55 | -60.76 | 194.22 | 5.28 |
| EPS Growth(%) | 358.59 | -44.77 | 93.72 | -58.4 | -20.49 | 18.33 | 94.33 | 71.54 | -60.76 | 194.2 | 5.28 |
| Interest Coverage(x) % | 21.34 | 28.56 | 7.97 | 3.51 | 2.18 | 2.93 | 4.2 | 6.58 | 6.71 | 152.14 | 45.04 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 | 64.84 |
| FII | 0.01 | 0.05 | 0.07 | 0.2 | 0 | 0 | 0.03 | 0 | 0 | 0 |
| DII | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 |
| Public | 35.06 | 35.02 | 35 | 34.87 | 35.07 | 35.07 | 35.04 | 35.07 | 35.07 | 35.07 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 | 2.88 |
| FII | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.56 | 1.55 | 1.55 | 1.55 | 1.56 | 1.56 | 1.55 | 1.56 | 1.56 | 1.56 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 | 4.44 |
* The pros and cons are machine generated.
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