Indbank Merch. Bankg

₹48.5 0.2 | 0.5%

WEBSITE BSE:511473 NSE : IND.BANK MER 18 May, 12:50

Market Cap ₹215 Cr.

Stock P/E 30.4

P/B 2.6

Current Price ₹48.5

Book Value ₹ 18.8

Face Value 10

52W High ₹60.7

Dividend Yield 0%

52W Low ₹ 23.6

Edit Ratio

Indbank Merch. Bankg Research see more...

Overview Inc. Year: 1989Industry: Finance - Stock Broking

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.

Indbank Merch. Bankg Share Price

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Peer Comparison

Indbank Merch. Bankg Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Sep 2023	Dec 2023	Mar 2024
Operating Revenue	4	5	5	4	4	5	4	6	7	7
Other Income	1	5	-0	4	-0	0	0	0	0	0
Total Income	5	10	5	7	4	5	4	6	7	7
Total Expenditure	2	6	3	7	2	3	3	3	3	4
Operating Profit	2	4	2	1	2	2	1	3	3	3
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	2	3	2	0	2	2	1	3	3	3
Provision for Tax	0	0	1	1	-0	1	0	1	1	2
Profit After Tax	1	3	1	-1	2	2	1	2	3	2
Adjustments	0	0	0	0	0	0	0	0	-0	1
Profit After Adjustments	1	3	1	-1	2	2	1	2	3	3
Adjusted Earnings Per Share	0.3	0.7	0.3	-0.2	0.4	0.4	0.1	0.5	0.6	0.3

Indbank Merch. Bankg Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	5	6	9	8	9	12	8	9	12	21	18	24
Other Income	2	1	10	3	8	3	4	8	7	4	3	0
Total Income	8	8	19	11	17	15	12	17	19	24	21	24
Total Expenditure	7	6	12	7	10	9	9	12	13	14	15	13
Operating Profit	1	2	7	4	7	6	4	5	7	10	6	10
Interest Expense	0	0	0	0	1	2	2	2	2	2	1	0
Depreciation	1	1	1	1	1	0	0	0	0	0	0	0
Profit Before Tax	0	1	6	3	6	4	2	3	5	9	5	10
Provision for Tax	0	0	1	0	0	2	0	1	1	2	2	4
Profit After Tax	0	1	5	3	5	2	2	2	4	7	4	8
Adjustments	1	-1	0	0	0	0	0	0	0	0	0	1
Profit After Adjustments	1	0	5	3	5	2	2	2	4	7	4	9
Adjusted Earnings Per Share	0	0.2	1.1	0.6	1.2	0.5	0.4	0.5	0.9	1.6	0.8	1.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-14%	26%	8%	14%
Operating Profit CAGR	-40%	6%	0%	20%
PAT CAGR	-43%	26%	15%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	86%	46%	40%	28%
ROE Average	5%	7%	6%	6%
ROCE Average	8%	11%	9%	8%

Indbank Merch. Bankg Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	41	42	46	49	54	57	58	60	64	71	75
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	10	6	9	11	10	10	14	20	21	23
Other Liabilities & Provisions	-5	-5	-4	-4	-4	-4	-4	-4	-3	0	2
Total Liabilities	42	46	48	53	61	63	64	70	81	92	99
Loans	0	0	0	0	0	0	0	0	0	0	0
Investments	4	3	3	3	5	4	3	3	1	1	1
Fixed Assets	6	6	5	5	1	1	1	0	1	1	1
Other Loans	0	0	0	0	12	12	12	13	13	14	15
Other Non Current Assets	0	0	0	0	9	15	5	14	18	0	0
Current Assets	31	37	40	46	34	31	44	40	45	73	80
Total Assets	42	46	48	53	61	63	64	70	81	92	99

Indbank Merch. Bankg Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	1	4	1	0	-0	0	7	12	11	9
Cash Flow from Operating Activities	-0	8	1	4	6	5	5	15	8	1	0
Cash Flow from Investing Activities	-1	-5	-4	-5	-6	-3	-3	-10	-8	-1	-1
Cash Flow from Financing Activities	0	0	0	0	0	-1	0	0	-2	-2	-1
Net Cash Inflow / Outflow	-1	3	-3	-0	-1	1	2	5	-2	-2	-2
Closing Cash & Cash Equivalent	1	4	1	0	-0	0	2	12	10	9	7

Indbank Merch. Bankg Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	0	0.25	1.12	0.62	1.2	0.5	0.4	0.47	0.91	1.57	0.79
CEPS(Rs)	0.16	0.4	1.32	0.78	1.32	0.6	0.45	0.54	0.96	1.61	0.87
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	9.33	9.4	10.43	11.05	12.25	12.73	13.12	13.57	14.48	16.03	16.79
Net Profit Margin	0.37	17.88	54.34	36.21	57.99	19.03	21.75	23.82	33.79	33.76	19.18
Operating Margin	6.09	20.38	67.48	42.74	69.92	47.51	41.17	50.87	53.37	48.9	32.72
PBT Margin	5.97	18.11	64.32	41.24	61.15	33.99	22.3	33.52	40.66	41.47	27.84
ROA(%)	0.05	2.48	10.6	5.42	9.31	3.59	2.78	3.1	5.35	8.04	3.66
ROE(%)	0.05	2.62	11.34	5.78	10.32	4.01	3.08	3.53	6.52	10.28	4.81
ROCE(%)	0.78	2.98	14.08	6.82	12.26	9.85	5.82	7.53	10.3	14.9	8.05
Price/Earnings(x)	1111.36	16.52	9.27	11.28	10.74	38.58	23	10.52	13.92	13.8	26.67
Price/Book(x)	0.52	0.43	1	0.63	1.05	1.52	0.7	0.36	0.88	1.35	1.25
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	2.29	-0.11	3.23	1.25	4.11	5.74	0.79	-1.52	1.62	1.45	1.44
EV/Core EBITDA(x)	11.68	-0.37	4.21	2.37	5.39	11.21	1.83	-2.8	2.95	2.91	4.15
Interest Earned Growth(%)	-25.21	15.96	50.91	-17.1	20.93	26.77	-30.41	8.05	36.94	71.71	-11.45
Net Profit Growth	102.21	5506.22	358.63	-44.76	93.7	-58.39	-20.5	18.33	94.31	71.55	-49.71
EPS Growth(%)	102.23	5470.45	358.59	-44.77	93.72	-58.4	-20.49	18.33	94.33	71.54	-49.7
Interest Coverage(x) %	50.6	8.97	21.34	28.56	7.97	3.51	2.18	2.93	4.2	6.58	6.71

Indbank Merch. Bankg Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84	64.84
FII	0	0	0	0.01	0.01	0	0	0.01	0.01	0.05
DII	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Public	35.07	35.07	35.07	35.06	35.06	35.07	35.07	35.06	35.06	35.02
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
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	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	1.56	1.56	1.56	1.56	1.56	1.56	1.56	1.56	1.56	1.55
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

Pros

Company is almost debt free.

Cons

Company has a low return on equity of 7% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.