Dashboard/INDBANK

INDBANK

OVERVALUED

Indbank Merchant Banking Services Limited

Banking · NSE

↓ 33.3% vs fair value

52W Low

₹26

+25.5% from low

52W High

₹47

-32.1% from high

News sentiment (1 articles)

0 bull1 neutral0 bear

✦

Analyst Note

1d ago

INDBANK is trading at ₹32, roughly 31% above its fair value of ₹24.01, signaling overvaluation with medium confidence. While earnings surged 65.4% year-over-year, the company struggles with weak profitability—ROE of 7.4% and ROCE of 9.9% lag banking standards—and earnings quality concerns suggest paper profits rather than genuine cash generation. The stock trades near 52-week lows with neutral sentiment sustained over both the short and long term, indicating limited catalyst momentum. Conservative, value-focused investors may wait for better entry points.

Valuation Gauge

OVERVALUED-33.3% Margin of Safety

OVERVALUEDFAIRLY VALUEDUNDERVALUED

Current Price

₹32

Fair Value

₹24

Fair Value Analysis

₹24

Based on balance sheet strength analysis and book value multiple for Banking sector companies

Medium confidence

Balance Sheet Value

42% weight

₹28

P/B Multiple

58% weight

₹21

Price vs Market

INDBANK

Nifty 50

Technical Pulse

Plain English — no jargon

RSI 45.9Neutral

52-week range-17% from high

L 28.25H 38.12

20-day avg₹32▲ 0.4%

📍

Price PositionNeutral

Not enough price history to assess trend.

💪

Momentum (RSI)Neutral

RSI is 46 — neutral momentum, neither overbought nor oversold.

📈

Short-term TrendNeutral

Insufficient data for short-term trend.

→Combined Verdict

Trading significantly above fair value. Unless you believe the business has permanently re-rated, the risk-reward is unfavorable here.

Shareholding Pattern

Stock Health Score

Mixed Signals

4.8 / 10

Profitability

6/10

ROE of 7.4% is below the Banking sector benchmark of 15%

Debt & Leverage

10/10

D/E ratio of 0.0x is well within the Banking sector norm of 8.0x — strong balance sheet

Valuation vs Peers

2/10

P/E of 19.8x trades at a significant premium to Banking sector median (15x)

Cash Flow

3/10

Negative cash flow of ₹-0 Cr — concerning for Banking sector

Earnings Growth

4/10

5yr EPS CAGR of 6.7% is well below Banking sector average of 23.2%

Dividend

4/10

No dividend — typical for growth-stage companies

Sentiment Trend — Last 30 Days

Historical Returns

Key Ratios & Growth

FCF Yield

0.5%

Free cash flow / market cap

Revenue Growth (YoY)

+11.0%

Year-on-year revenue change

Profit Growth (YoY)

+64.1%

Year-on-year PAT change

Operating Cash Flow

₹0 Cr

TTM cash from operations

Key Financials

EPS (TTM)

₹1.6

P/E Ratio

19.8x

P/B Ratio

1.5x

ROE

7.4%

ROCE

9.9%

Debt / Equity

0.03x

Beta

-0.13

Div Yield

—

FCF (Cr)

₹-0 Cr

Revenue (Cr)

₹21 Cr

EPS Growth 5Y

6.7%

Mkt Cap (Cr)

₹142 Cr

52W High

₹47.2

52W Low

₹25.5

Book Value/Share

₹21.4

Financial History

Period	Revenue	Op Profit	OPM%	PAT	EPS
TTM	₹25 Cr	₹10 Cr	40.3%	₹7 Cr	₹1.59
2025-03-31	₹27 Cr	₹12 Cr	45.0%	₹8 Cr	₹1.91
2024-03-31	₹25 Cr	₹11 Cr	44.3%	₹9 Cr	₹2.03
2023-03-31	₹18 Cr	₹6 Cr	30.1%	₹4 Cr	₹0.79
2022-03-31	₹21 Cr	₹6 Cr	31.3%	₹7 Cr	₹1.57
2021-03-31	₹15 Cr	₹2 Cr	13.7%	₹4 Cr	₹0.91
2020-03-31	₹11 Cr	₹-1 Cr	-8.8%	₹2 Cr	₹0.47
2019-03-31	₹10 Cr	₹1 Cr	13.9%	₹2 Cr	₹0.40
2018-03-31	₹14 Cr	₹5 Cr	37.4%	₹2 Cr	₹0.50
2017-03-31	₹11 Cr	₹0 Cr	3.9%	₹5 Cr	₹1.20
2016-03-31	₹9 Cr	₹3 Cr	36.1%	₹3 Cr	₹0.62
2015-03-31	₹10 Cr	₹4 Cr	42.1%	₹5 Cr	₹1.12
2014-03-31	₹7 Cr	₹2 Cr	24.6%	₹0 Cr	₹0.07

Compounded Growth Rates

Sales Growth

3Y+10.4%

5Y+10.5%

10Y+10.5%

Profit Growth

3Y+26.4%

5Y+11.7%

10Y+9.8%

EPS Growth

3Y+26.3%

5Y+11.8%

10Y+9.9%

Peer Comparison

Banking

Stock	Price	Fair Value	MoS%	P/E	ROE	Signal
DHANBANK Dhanlaxmi Bank Limited	₹23.5	₹38.8	+39.4%	9.3	7.0%	UNDERVALUED
CANBK Canara Bank	₹131	₹204.4	+35.9%	5.7	18.2%	UNDERVALUED
CENTRALBK Central Bank of India	₹34	₹51.3	+33.9%	6.1	13.2%	UNDERVALUED
MAHABANK Bank of Maharashtra	₹66.5	₹99.1	+32.9%	7.6	21.2%	UNDERVALUED
IDBI IDBI Bank Limited	₹70.1	₹98.8	+29.0%	8	14.7%	UNDERVALUED
SURYODAY Suryoday Small Finance Bank Limited	₹132.7	₹176.2	+24.7%	19.5	3.4%	UNDERVALUED
BANKBARODA Bank of Baroda	₹260.5	₹344.4	+24.4%	6.6	12.8%	UNDERVALUED
BANKINDIA Bank of India	₹143.2	₹186.5	+23.2%	6.5	12.1%	UNDERVALUED

Institutional Activity

Bulk deals, block deals, short selling & delivery volume — NSE data

Insider Trading

Community Pulse

What is Dalal Street saying?

r/IndiaInvestments · r/Dalal_Street_Investments · r/IndianStockMarket

No Reddit mentions found yet for INDBANK.

StockTwits

What traders are saying right now

StockTwits

No StockTwits activity found for INDBANK.

Search Interest

Google Trends · India · Last 90 days

Trends

Trend data not yet available — check back soon.

Telegram Channels

ET Markets · CNBC TV18 · Moneycontrol · Zee Business · NDTV Profit

No Telegram mentions found yet for INDBANK.

5 articles

BOM:511473 PB Ratio: 1.35 — Near Median - GuruFocus

Google News: INDBANK·6d ago

– NEUTRAL

Indbank Merchant Banking Services Ltd is Rated Strong Sell - Markets Mojo

Google News: INDBANK·7d ago

Indbank Merchant Banking Services Ltd Upgraded to Sell on Valuation Improvement - Markets Mojo

Google News: INDBANK·15d ago

Indbank Merchant Banking Services Downgraded to Strong Sell Amid Technical and Fundamental Weakness - Markets Mojo

Google News: INDBANK·18d ago

Indbank Merchant Banking Services Ltd Forms Death Cross, Signalling Bearish Trend - Markets Mojo

Google News: INDBANK·19d ago

Company Documents

Annual reports, concall transcripts & regulatory filings

📄

Annual Reports

Last 10 years of annual reports via Screener.in

↗🎙️

Concall Transcripts

Quarterly earnings call transcripts & investor presentations

↗🏛️

NSE Filings

Board meeting outcomes, shareholding patterns, corporate actions

↗📊

Balance Sheet & Cash Flow

10-year financial statements on Screener.in

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