Indbank Merchant Banking Services Ltd

Indbank Merchant Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indbank Merchant Banking Services Ltd

₹ 49.8 -1.09%
03 May - close price
indbankonline.com BSE: 511473 NSE : INDBANK
About

Incorporated in 1989, Indbank Merchant Banking Services Ltd. is engaged in Merchant Banking, Stock Broking, Depository Participant and allied activities.

Key Points

Business Overview:[1]
Company is a subsidiary of Indian Bank and is registered with SEBI as a Merchant Banker. It is a member of NSE (Equity, Derivatives & Debt segments), BSE (Equity & Derivatives) and registered with National Securities & Depository Limited as a Depository Participant. It is also registered with Association of Mutual Funds of India for distribution of Mutual Fund products. Company also provides Depository services to Institutions and retail customers and has accounts under DP operations and 27770 accounts under broking operations.

Website BSE NSE
  • Market Cap ₹ 221 Cr.
  • Current Price ₹ 49.8
  • High / Low ₹ 60.7 / 23.6
  • Stock P/E 27.5
  • Book Value ₹ 18.8
  • Dividend Yield 0.00 %
  • ROCE 14.6 %
  • ROE 10.2 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 36.3% CAGR over last 5 years

Cons

  • Stock is trading at 2.65 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 8.43% over last 3 years.
  • Working capital days have increased from 58.0 days to 244 days

* 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.

Peer comparison

Sector: Stock/ Commodity Brokers Industry: Finance & Investments

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
3.25 3.93 4.01 5.46 5.10 3.51 4.33 5.40 4.22 5.42 6.04 6.60 6.86
2.82 2.58 2.45 6.37 2.87 6.78 2.16 3.01 3.05 3.34 2.73 3.24 3.54
Operating Profit 0.43 1.35 1.56 -0.91 2.23 -3.27 2.17 2.39 1.17 2.08 3.31 3.36 3.32
OPM % 13.23% 34.35% 38.90% -16.67% 43.73% -93.16% 50.12% 44.26% 27.73% 38.38% 54.80% 50.91% 48.40%
0.75 0.82 0.73 4.52 -0.03 3.88 -0.01 0.01 0.01 0.01 0.01 0.01 0.96
Interest 0.38 0.38 0.38 0.38 0.38 0.40 0.40 0.04 0.05 0.03 0.03 0.00 0.01
Depreciation 0.05 0.05 0.05 0.05 0.05 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.09
Profit before tax 0.75 1.74 1.86 3.18 1.77 0.12 1.67 2.27 1.04 1.97 3.20 3.27 4.18
Tax % 21.33% 22.41% 22.58% 5.97% 33.33% 666.67% -13.77% 22.91% 48.08% 22.84% 24.38% 21.71% 39.95%
0.59 1.36 1.43 2.99 1.18 -0.69 1.90 1.75 0.54 1.52 2.42 2.56 2.50
EPS in Rs 0.13 0.31 0.32 0.67 0.27 -0.16 0.43 0.39 0.12 0.34 0.55 0.58 0.56
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6.71 7.15 10.11 9.03 10.54 13.82 10.39 11.47 14.91 20.62 18.22 24.92
6.91 5.39 5.85 5.77 10.13 8.65 8.95 12.48 12.87 14.17 15.00 12.84
Operating Profit -0.20 1.76 4.26 3.26 0.41 5.17 1.44 -1.01 2.04 6.45 3.22 12.08
OPM % -2.98% 24.62% 42.14% 36.10% 3.89% 37.41% 13.86% -8.81% 13.68% 31.28% 17.67% 48.48%
1.94 -0.64 2.63 0.59 6.55 0.81 2.13 5.77 4.56 3.83 3.13 0.98
Interest 0.01 0.14 0.29 0.11 0.81 1.58 1.53 1.52 1.53 1.53 0.89 0.07
Depreciation 0.71 0.67 0.69 0.60 0.53 0.43 0.23 0.30 0.19 0.20 0.37 0.38
Profit before tax 1.02 0.31 5.91 3.14 5.62 3.97 1.81 2.94 4.88 8.55 5.09 12.61
Tax % 28.43% 3.23% 15.40% 12.10% 5.16% 44.08% 2.76% 28.91% 17.01% 18.60% 31.04% 28.63%
0.73 0.30 4.99 2.76 5.34 2.22 1.77 2.09 4.06 6.96 3.50 9.00
EPS in Rs 0.16 0.07 1.12 0.62 1.20 0.50 0.40 0.47 0.91 1.57 0.79 2.03
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 13%
5 Years: 19%
3 Years: 19%
TTM: 37%
Compounded Profit Growth
10 Years: 21%
5 Years: 36%
3 Years: 26%
TTM: 130%
Stock Price CAGR
10 Years: 28%
5 Years: 41%
3 Years: 54%
1 Year: 84%
Return on Equity
10 Years: 7%
5 Years: 7%
3 Years: 8%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 44.38 44.38 44.38 44.38 44.38 44.38 44.38 44.38 44.38 44.38 44.38 44.38
Reserves -2.99 -2.68 1.91 4.67 9.98 12.13 13.86 15.83 19.90 26.75 30.13 38.99
0.00 0.00 0.00 0.00 1.58 0.03 0.00 0.00 0.00 0.00 2.79 0.00
5.60 9.60 6.20 8.66 24.39 24.47 9.30 13.94 19.91 21.33 20.08 22.97
Total Liabilities 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 92.46 97.38 106.34
6.48 5.66 5.06 4.53 4.07 3.73 3.58 3.33 3.37 3.71 3.55 3.32
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.00 0.00
Investments 4.37 3.40 3.47 3.04 2.10 1.24 0.45 0.19 0.80 1.30 1.37 2.44
36.14 42.24 43.96 50.14 74.16 76.04 63.51 70.63 80.02 87.32 92.46 100.58
Total Assets 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 92.46 97.38 106.34

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-0.37 7.90 0.84 4.34 5.55 4.65 4.95 14.92 8.14 0.55 0.03 -1.16
-1.00 -4.58 -4.31 -4.56 -6.47 -2.94 -3.41 -10.32 -8.44 -0.98 -1.03 -0.17
0.00 0.00 0.00 0.00 0.00 -0.80 0.00 0.00 -1.51 -1.51 -0.89 -0.07
Net Cash Flow -1.37 3.32 -3.47 -0.22 -0.92 0.90 1.54 4.61 -1.80 -1.93 -1.89 -1.40

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.65 82.54 67.08
Inventory Days
Days Payable
Cash Conversion Cycle 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.65 82.54 67.08
Working Capital Days 844.23 429.32 600.39 625.31 642.39 453.21 -23.19 -308.36 -286.66 -71.87 1.40 244.46
ROCE % 0.07% 3.35% 14.00% 6.80% 12.36% 9.87% 5.68% 7.51% 10.27% 14.89% 8.06%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84% 64.84%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.00% 0.00% 0.01% 0.01% 0.05%
0.19% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09%
34.97% 35.07% 35.07% 35.07% 35.07% 35.06% 35.07% 35.07% 35.06% 35.07% 35.06% 35.02%
No. of Shareholders 40,10639,78140,47541,41342,49343,03144,27844,13143,62744,71043,35348,265

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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