Tamilnad Mercantile

₹469.1 -2.3 | 0.5%

WEBSITE BSE:543596 NSE : TMB 10 May, 16:01

Market Cap ₹7428 Cr.

Stock P/E 6.9

P/B 0.9

Current Price ₹469.1

Book Value ₹ 500.2

Face Value 10

52W High ₹611

Dividend Yield 0%

52W Low ₹ 407

Edit Ratio

Tamilnad Mercantile Research see more...

Overview Inc. Year: 1921Industry: Bank - Private

Tamilnad Mercantile Bank Ltd (TMB) is a private sector bank headquartered in Tuticorin, Tamil Nadu, India. The bank was founded in 1921 and has since grown to become a leading financial institution in the region. TMB offers a wide range of banking and financial services to its customers, including savings and current accounts, fixed deposits, loans, insurance, and online banking. The bank has a network of over 500 branches across the country, along with ATMs and other digital channels for convenient access to banking services. TMB has received several awards and recognitions for its excellent customer service and innovative banking solutions. The bank is committed to serving the financial needs of its customers and contributing to the economic development of the communities it operates in.

Tamilnad Mercantile Share Price

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Peer Comparison

Tamilnad Mercantile Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Interest Earned	959	986	1002	997	1012	1070	1156	1209	1229	1254
Other Income	254	214	140	145	161	184	167	156	158	164
Total Income	1213	1201	1142	1141	1173	1254	1323	1365	1387	1418
Interest Expense	507	499	478	488	478	543	642	676	692	687
Operating Expenditure	306	276	289	264	290	307	301	324	325	364
Provisions and contingencies	113	146	55	34	33	57	39	23	2	24
Operating Profit	288	280	319	355	372	347	341	342	368	343
Profit Before Tax	288	280	319	355	372	347	341	342	368	343
Provision for Tax	85	53	85	93	92	94	80	68	84	90
Profit After Tax	203	227	234	262	280	253	261	274	284	253
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	203	227	234	262	280	253	261	274	284	253
Adjusted Earnings Per Share	14.2	15.9	16.4	16.6	17.7	16	16.5	17.3	17.9	16

Tamilnad Mercantile 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
Interest Earned	2470	2703	2836	3252	3381	3250	3224	3466	3609	3834	4081	4848
Other Income	249	220	292	319	431	506	414	526	644	812	629	645
Total Income	2719	2923	3127	3571	3811	3757	3639	3993	4253	4646	4710	5493
Interest Expense	1611	1820	1952	2208	2230	2041	1994	2147	2072	2019	1987	2697
Operating Expenditure	419	489	568	637	706	710	760	851	980	1111	1150	1314
Provisions and contingencies	52	159	65	176	383	696	488	410	404	392	179	88
Operating Profit	637	455	542	549	492	310	397	585	798	1125	1394	1394
Profit Before Tax	637	455	542	549	492	310	397	585	798	1125	1394	1394
Provision for Tax	197	154	163	147	176	88	138	177	195	303	364	322
Profit After Tax	440	301	379	402	317	222	259	408	603	822	1029	1072
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	440	301	379	402	317	222	259	408	603	822	1029	1072
Adjusted Earnings Per Share	30.9	21.1	26.6	28.2	22.2	15.6	18.1	28.6	42.3	57.7	65	67.7

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	6%	5%	5%
Operating Profit CAGR	24%	34%	35%	8%
PAT CAGR	25%	36%	36%	9%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	13%	NA%	NA%	NA%
ROE Average	17%	16%	13%	14%
ROCE Average	22%	21%	18%	19%

Tamilnad Mercantile 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	2022	2270	2594	2942	3224	3405	3618	3980	4580	5336	6928
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Deposits	20224	22646	25650	30369	32190	32428	35136	36825	40970	44933	47766
Borrowings	251	260	40	333	0	513	0	324	0	0	525
Other Liabilities & Provisions	1188	1223	1465	1623	1570	1574	1778	1630	1977	2590	2676
Total Liabilities	23684	26398	29749	35266	36984	37920	40533	42759	47527	52858	57895
Cash and balance with RBI	918	1034	1272	1398	1458	1702	1735	1414	1680	2113	2103
Bank Balance	267	376	163	201	488	302	1185	2322	1025	1739	1479
Investments	5348	6772	7671	8865	11504	10364	9107	9467	11703	13242	14156
Advances	16256	17144	19336	22578	21972	23769	26488	27716	31070	33492	37290
Fixed Assets	100	117	126	156	154	140	138	128	137	211	246
Other Assets	795	955	1180	2069	1407	1644	1880	1711	1912	2062	2622
Total Assets	23684	26398	29749	35266	36984	37920	40533	42759	47527	52858	57895

Tamilnad Mercantile 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	725	1185	1410	1435	1599	1946	2004	2920	3737	2705	3852
Cash Flow from Operating Activities	740	286	319	-18	753	-389	1498	567	-670	1325	-1270
Cash Flow from Investing Activities	-39	-40	-44	-62	-38	-26	-34	-20	-37	-107	-89
Cash Flow from Financing Activities	-240	-21	-250	245	-368	472	-547	269	-324	-71	1088
Net Cash Inflow / Outflow	460	225	24	164	347	58	917	816	-1031	1147	-270
Closing Cash & Cash Equivalent	1185	1410	1435	1599	1946	2004	2920	3737	2705	3852	3582

Tamilnad Mercantile 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)	30.89	21.1	26.62	28.21	22.22	15.57	18.14	28.61	42.34	57.67	65
CEPS(Rs)	0	0	0	0	25.05	18.36	20.64	30.72	44.34	60	68.4
DPS(Rs)	1600	1600	1600	1600	3.2	3.2	3.2	0	5	10	10
Book NAV/Share(Rs)	141.87	159.23	182.01	206.38	226.23	238.91	253.89	279.25	321.38	374.41	437.53
Yield on Advances	15.2	15.76	14.66	14.4	15.39	13.68	12.17	12.51	11.62	11.45	10.94
Yield on Investments	7.55	7.79	8.49	8.73	8.17	9.05	8.54	8.21	7.74	6.72	6.43
Cost of Liabilities	7.87	7.95	7.6	7.19	6.93	6.2	5.68	5.78	5.06	4.49	4.11
NIM (Net Interest Margin)	3.77	3.48	3.11	3.16	3.25	3.35	3.19	3.22	3.38	3.59	3.81
Interest Spread	7.33	7.82	7.07	7.21	8.46	7.48	6.5	6.73	6.56	6.95	6.83
ROA(%)	2	1.2	1.35	1.24	0.88	0.59	0.66	0.98	1.34	1.64	1.86
ROE(%)	24.08	14.02	15.6	14.53	10.27	6.7	7.36	10.73	14.1	16.58	16.78
ROCE(%)	32.28	20.5	22.44	20.16	15.7	8.99	11.77	14.89	18.44	22.82	22.15
PER(x)	0	0	0	0	0	0	0	0	0	0	6.28
Price/Book(x)	0	0	0	0	0	0	0	0	0	0	0.93
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	2.45
EV/Net Sales(x)	0.1	0.1	0.01	0.1	0.04	0.2	0.04	0.13	0.04	0.04	1.71
EV/Core EBITDA(x)	0.36	0.42	0.07	0.46	0.16	0.65	0.16	0.47	0.12	0.09	4.45
Interest Earned Growth(%)	31.24	9.4	4.92	14.69	3.96	-3.86	-0.8	7.49	4.12	6.23	6.45
Net Profit Growth	40.46	-31.69	26.14	6	-21.26	-29.92	16.52	57.67	47.99	36.23	25.23
Advances Growth	17.98	5.46	12.79	16.77	-2.68	8.18	11.44	4.64	12.1	7.8	11.34
EPS Growth(%)	40.46	-31.69	26.15	6	-21.25	-29.92	16.52	57.67	47.99	36.23	12.7
Loans/Deposits(x)	1.24	1.15	0.16	1.1	0	1.58	0	0.88	0	0	1.1
Cash/Deposits(x)	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.04	0.05	0.04
Current Ratio(x)	0.26	0.3	0.3	0.29	0.36	0.32	0.26	0.26	0.29	0.29	0.3
Quick Ratio(x)	1.24	1.15	0.16	1.1	0	1.58	0	0.88	0	0	1.1
CASA %	18.86	19.19	19.64	19.4	23.23	25.32	24.64	25.85	28.52	30.5	28.76

Tamilnad Mercantile Shareholding Pattern

#	Mar 2013	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	30.44	0	0	0	0	0	0	0
FII	0	0.73	0.58	0.22	0.07	2.06	3.14	3.45
DII	0	5.61	5.48	5.32	5.08	3.85	3.19	2.75
Public	69.56	93.66	93.94	94.46	94.84	94.09	93.67	93.8
Others	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100

#	Mar 2013	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.01	0	0	0	0	0	0	0
FII	0	0.12	0.09	0.03	0.01	0.33	0.5	0.55
DII	0	0.89	0.87	0.84	0.81	0.61	0.51	0.44
Public	0.02	14.83	14.88	14.96	15.02	14.9	14.83	14.85
Others	0	0	0	0	0	0	0	0
Total	0.03	15.84	15.84	15.84	15.84	15.84	15.84	15.84

Pros

Stock is trading at 0.9 times its book value
Company has delivered good profit growth of 35% CAGR over last 5 years
Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Promoter holding is low: 0%.

* 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.

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Tamilnad Mercantile

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Tamilnad Mercantile Research see more...

Overview Inc. Year: 1921Industry: Bank - Private

Tamilnad Mercantile Share Price

Alert Data

Quarterly Price

Peer Comparison

Tamilnad Mercantile Quarterly Results

Tamilnad Mercantile Profit & Loss

Growth Rates

Tamilnad Mercantile Balance Sheet

Tamilnad Mercantile Cash Flow

Tamilnad Mercantile Ratios

Tamilnad Mercantile Shareholding Pattern

Tamilnad Mercantile News

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