Bandhan Bank Ltd

₹ 267 2.24%
30 Sep - close price
About

Incorporated in 2014, Bandhan Bank is a commercial bank focused on serving underbanked and underpenetrated markets in India. The company has a PAN-India presence and offers a wide range of banking products & services and asset & liability products and services designed for micro banking and general banking. [1][2]

Key Points

History
The Co. was first set up as Bandhan Financial Services Pvt. Ltd (BFSL) in 2006. BFSL was the largest NBFC-MFI in India until 2014 after which the Co. received a banking license from the RBI. After Bandhan Bank commenced its operations in 2015, BFSL's entire microfinance portfolio was transferred to the books of Bandhan Bank. [1]

  • Market Cap 42,944 Cr.
  • Current Price 267
  • High / Low 350 / 230
  • Stock P/E 67.2
  • Book Value 108
  • Dividend Yield 0.38 %
  • ROCE 4.30 %
  • ROE 0.74 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.4% over last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.2,534 Cr.
  • Dividend payout has been low at 2.43% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -42.3%

* 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

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
Revenue 2,631 2,690 2,718 2,846 3,018 3,198 3,308 3,001 3,410 3,181 3,409 3,872 4,055
Interest 1,057 1,161 1,177 1,166 1,207 1,275 1,236 1,244 1,296 1,245 1,284 1,332 1,541
676 728 929 1,487 1,463 1,057 1,789 2,409 2,235 6,491 1,693 988 1,666
Financing Profit 899 801 611 193 348 866 283 -652 -121 -4,556 432 1,552 849
Financing Margin % 34% 30% 22% 7% 12% 27% 9% -22% -4% -143% 13% 40% 21%
331 360 358 500 387 367 562 787 617 527 712 964 330
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 1,230 1,161 969 693 735 1,233 845 135 496 -4,029 1,144 2,517 1,178
Tax % 35% 16% 25% 25% 25% 25% 25% 24% 25% 25% 25% 24% 25%
Net Profit 804 972 731 517 550 920 633 103 373 -3,009 859 1,902 886
EPS in Rs 6.74 8.15 4.54 3.21 3.41 5.71 3.93 0.64 2.32 -18.68 5.33 11.81 5.50
Gross NPA % 1.70% 1.76% 1.93% 1.48% 1.43% 1.18% 1.11% 6.81% 8.18% 10.82% 10.81% 6.46% 7.25%
Net NPA % 0.59% 0.56% 0.81% 0.58% 0.48% 0.36% 0.26% 3.51% 3.29% 3.04% 3.01% 1.66% 1.92%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Revenue 0 1,581 3,909 4,802 6,643 10,885 12,524 13,871 14,516
Interest 0 649 1,505 1,770 2,148 4,562 4,961 5,157 5,402
6 633 1,044 1,597 2,467 3,739 6,534 11,298 10,837
Financing Profit -6 299 1,360 1,436 2,028 2,584 1,029 -2,584 -1,723
Financing Margin % 19% 35% 30% 31% 24% 8% -19% -12%
8 150 411 706 1,063 1,549 2,022 2,823 2,534
Depreciation 0 36 67 86 78 80 103 110 0
Profit before tax 2 414 1,704 2,056 3,013 4,053 2,949 129 811
Tax % 75% 33% 35% 35% 35% 25% 25% 2%
Net Profit 1 275 1,112 1,346 1,952 3,024 2,205 126 639
EPS in Rs 0.01 2.51 10.15 11.28 16.36 18.78 13.69 0.78 3.96
Dividend Payout % 0% 0% 0% 9% 18% 0% 7% 0%
Compounded Sales Growth
10 Years: %
5 Years: 29%
3 Years: 28%
TTM: 12%
Compounded Profit Growth
10 Years: %
5 Years: -35%
3 Years: -60%
TTM: -68%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -17%
1 Year: -8%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 11%
Last Year: 1%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
501 1,095 1,095 1,193 1,193 1,610 1,611 1,611
Reserves 1 2,239 3,351 8,189 10,009 13,585 15,798 15,770
0 15,140 24,258 34,154 43,753 73,461 94,933 116,252
25 1,282 1,532 774 1,487 3,062 2,675 5,234
Total Liabilities 527 19,756 30,236 44,310 56,442 91,718 115,016 138,867
0 237 252 238 222 347 432 415
CWIP 108 0 0 0 109 22 55 173
Investments 0 3,758 5,516 8,372 10,037 15,352 25,155 29,079
418 15,761 24,468 35,700 46,073 75,997 89,374 109,200
Total Assets 527 19,756 30,236 44,310 56,442 91,718 115,016 138,867

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
8,885 -2,599 2,695 6,583 -909 902
-2,671 -2,237 -2,373 -4,187 -1,804 -612
-2,023 2,846 105 154 588 2,803
Net Cash Flow 4,192 -1,989 427 2,550 -2,125 3,093

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
ROE % 14% 29% 19% 19% 23% 14% 1%

Shareholding Pattern

Numbers in percentages

6 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
82.26 60.96 60.95 60.95 40.00 40.00 39.99 39.99 39.99 39.99 39.99 39.99
6.91 13.92 13.05 14.51 32.24 35.20 34.91 35.44 33.61 34.60 34.31 35.64
8.84 8.17 8.84 7.98 5.83 4.38 1.91 1.97 2.50 1.94 4.56 7.13
1.99 16.95 17.16 16.56 21.94 20.43 23.19 22.60 23.90 23.47 21.14 17.25

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