Tamilnad Mercantile Bank Ltd
Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs).[1]
- Market Cap ₹ 7,727 Cr.
- Current Price ₹ 488
- High / Low ₹ 611 / 402
- Stock P/E 7.21
- Book Value ₹ 438
- Dividend Yield 1.02 %
- ROCE 7.41 %
- ROE 15.5 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.12 times its book value
- Company has delivered good profit growth of 32.9% CAGR over last 5 years
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 8.50% over past five years.
- Contingent liabilities of Rs.6,519 Cr.
- Company might be capitalizing the interest cost
* 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: Banks Industry: Banks - Private Sector
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Revenue | 3,250 | 3,224 | 3,466 | 3,609 | 3,834 | 4,081 | 4,848 |
Interest | 2,041 | 1,994 | 2,147 | 2,072 | 2,019 | 1,987 | 2,697 |
1,366 | 1,350 | 1,231 | 1,355 | 1,470 | 1,276 | 1,402 | |
Financing Profit | -157 | -120 | 89 | 183 | 346 | 818 | 749 |
Financing Margin % | -5% | -4% | 3% | 5% | 9% | 20% | 15% |
506 | 414 | 526 | 644 | 812 | 629 | 645 | |
Depreciation | 40 | 36 | 30 | 29 | 33 | 54 | 0 |
Profit before tax | 310 | 259 | 585 | 798 | 1,125 | 1,394 | 1,394 |
Tax % | 28% | 0% | 30% | 24% | 27% | 26% | 23% |
222 | 259 | 408 | 603 | 822 | 1,029 | 1,072 | |
EPS in Rs | 15.57 | 18.14 | 28.61 | 42.34 | 57.67 | 65.00 | 67.70 |
Dividend Payout % | 21% | 13% | 13% | 0% | 9% | 8% | 15% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 9% |
3 Years: | 10% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 33% |
3 Years: | 21% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 18% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 15% |
3 Years: | 16% |
Last Year: | 15% |
Balance Sheet
Figures in Rs. Crores
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 143 | 143 | 143 | 143 | 143 | 158 | |
Reserves | 3,262 | 3,476 | 3,837 | 4,437 | 5,193 | 6,770 | |
32,941 | 35,136 | 37,149 | 40,970 | 44,933 | 48,291 | ||
1,522 | 1,719 | 1,604 | 1,948 | 2,559 | 2,646 | ||
Total Liabilities | 37,868 | 40,473 | 42,733 | 47,499 | 52,828 | 57,866 | |
140 | 138 | 128 | 137 | 211 | 246 | ||
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | |
Investments | 10,364 | 9,107 | 9,467 | 11,703 | 13,242 | 14,156 | |
27,364 | 31,228 | 33,137 | 35,658 | 39,374 | 43,464 | ||
Total Assets | 37,868 | 40,473 | 42,733 | 47,499 | 52,828 | 57,866 |
Cash Flows
Figures in Rs. Crores
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
-389 | 0 | 0 | -670 | 1,325 | -1,270 | -611 | |
-26 | 0 | 0 | -37 | -107 | -89 | -100 | |
472 | 0 | 0 | -324 | -71 | 1,088 | 697 | |
Net Cash Flow | 58 | 0 | 0 | -1,031 | 1,147 | -270 | -14 |
Ratios
Figures in Rs. Crores
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
ROE % | 7% | 11% | 14% | 17% | 17% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1d
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1d
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Announcement under Regulation 30 (LODR)-Newspaper Publication
23 Apr - Tamilnad Mercantile Bank Limited has informed the Exchange about Copy of Newspaper Publication - Audited Financial Results of the Bank for the quarter and financial …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 Apr - Tamilnad Mercantile Bank Limited has informed the Exchange about Link of Audio recording of the Earning Conference Call with Investor & Analyst Q4 Results
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 22 Apr
Concalls
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Apr 2024TranscriptNotesPPT
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Jan 2024Transcript PPT
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Nov 2023Transcript PPT
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Jul 2023Transcript PPT
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Apr 2023Transcript PPT
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Jan 2023Transcript PPT
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Nov 2022Transcript PPT
Leading Private sector Bank[1] Tamilnad Mercantile Bank Limited (“TMB”) is one of the oldest and leading private sector banks in India with a history of almost 100 years. As of FY22, the bank has a strong branch network of 509 branches of which 106 branches are in rural, 247 in semi-urban, 80 in urban, and 76 in metropolitan centers. TMB has a customer base of 5.08 million with significant presence in Tamil Nadu with 369 branches. TMB is also present in 15 other states and 4 union territories of India.