Federal Bank Ltd

About [ edit ]

The Federal Bank Limited (‘the Bank’) was incorporated in 1931 as Travancore Federal Bank Limited. It provides retail and corporate banking, para banking activities such as debit card, third party product distribution etc., treasury and foreign exchange business.#

Key Points [ edit ]
  • Market Cap 15,501 Cr.
  • Current Price 77.6
  • High / Low 92.5 / 36.8
  • Stock P/E 10.5
  • Book Value 74.2
  • Dividend Yield 0.00 %
  • ROCE 6.38 %
  • ROE 11.1 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.05 times its book value

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 10.14% for last 3 years.
  • Contingent liabilities of Rs.38231.46 Cr.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Banks Industry: Banks - Private Sector

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
Revenue 2,713 2,813 3,003 3,107 3,295 3,337 3,414 3,544 3,572 3,622 3,604
Interest 1,705 1,761 1,896 1,954 2,097 2,154 2,206 2,221 2,197 2,159 2,076
863 949 925 957 984 1,116 1,031 1,602 1,305 1,553 1,450
Financing Profit 145 103 181 196 214 66 177 -279 70 -90 78
Financing Margin % 5% 4% 6% 6% 6% 2% 5% -8% 2% -2% 2%
Other Income 271 323 346 395 371 412 421 678 483 509 485
Depreciation 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 416 426 527 591 585 478 598 399 554 419 563
Tax % 35% 34% 35% 34% 36% 11% 24% 24% 26% 25% 25%
Net Profit 273 281 340 423 374 425 452 329 410 315 418
EPS in Rs 1.38 1.42 1.71 2.13 1.88 2.14 2.27 1.65 2.05 1.58 2.10
Gross NPA % 2.98% 3.10% 3.14% 2.92% 2.98% 3.06% 2.97% 2.82% 2.94% 2.80% 2.67%
Net NPA % 1.71% 1.78% 1.73% 1.49% 1.50% 1.60% 1.63% 1.32% 1.23% 0.99% 0.61%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
Revenue 3,315 3,673 4,052 5,582 6,246 7,006 7,488 7,826 8,783 9,915 11,635 13,590 14,343
Interest 1,999 2,262 2,304 3,607 4,209 4,728 5,056 5,259 5,653 6,226 7,316 8,678 8,653
1,025 1,058 1,340 1,302 1,410 1,664 1,701 2,528 2,749 3,330 3,572 4,608 5,910
Financing Profit 292 353 408 673 628 614 731 39 382 358 747 304 -220
Financing Margin % 9% 10% 10% 12% 10% 9% 10% 0% 4% 4% 6% 2% -2%
Other Income 516 533 518 532 665 685 878 808 1,084 1,160 1,335 1,882 2,156
Depreciation 43 50 54 59 82 98 79 108 124 125 122 126 0
Profit before tax 765 835 872 1,147 1,210 1,202 1,530 739 1,342 1,393 1,960 2,060 1,935
Tax % 38% 47% 36% 34% 30% 31% 34% 34% 36% 35% 35% 25%
Net Profit 472 440 556 754 853 850 1,058 486 867 935 1,316 1,580 1,472
EPS in Rs 4.41 4.98 4.97 6.17 2.83 5.03 4.74 6.63 7.93 7.38
Dividend Payout % 18% 19% 26% 20% 18% 20% 18% 25% 18% 21% 21% 0%
Compounded Sales Growth
10 Years:14%
5 Years:13%
3 Years:16%
TTM:9%
Compounded Profit Growth
10 Years:14%
5 Years:8%
3 Years:22%
TTM:-12%
Stock Price CAGR
10 Years:6%
5 Years:10%
3 Years:-8%
1 Year:82%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:10%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
171 171 171 171 171 171 171 344 345 394 397 399
Reserves 4,119 4,459 4,847 5,421 6,093 6,690 7,529 7,720 8,607 11,880 13,101 14,424
Borrowings 33,411 37,596 44,877 53,201 62,850 65,497 73,216 84,407 104,008 124,299 143,585 164,780
1,107 1,379 1,448 1,751 1,879 2,286 1,993 2,234 2,527 2,640 3,469 3,751
Total Liabilities 38,808 43,605 51,343 60,544 70,993 74,643 82,909 94,706 115,486 139,214 160,552 183,353
282 290 293 337 412 414 446 508 477 452 462 477
CWIP 0 0 0 0 2 23 27 16 15 10 18 28
Investments 12,074 12,982 14,408 17,102 20,854 23,839 20,349 24,920 27,912 30,595 31,676 35,715
26,453 30,333 36,642 43,105 49,724 50,368 62,087 69,262 87,081 108,158 128,397 147,133
Total Assets 38,808 43,605 51,343 60,544 70,993 74,643 82,909 94,706 115,486 139,214 160,552 183,353

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
919 -555 1,272 -967 2,880 1,197 5,158 -1,557 3,431 -5,051 7,873 3,731
-156 -59 -147 -1,453 -3,487 -737 -1,364 1,990 -2,384 -1,579 -3,378 -4,688
-71 -100 -99 2,209 795 349 -3,544 205 985 8,371 -3,637 3,661
Net Cash Flow 692 -714 1,026 -211 188 808 250 639 2,032 1,741 858 2,704

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROE % 11% 10% 12% 14% 14% 13% 15% 6% 10% 9% 10% 11%

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
37.36 36.17 37.34 37.24 37.46 34.95 32.47 33.31 30.95 24.64 21.69 24.51
30.75 29.98 29.94 29.73 30.51 35.44 38.03 37.10 37.16 38.32 44.60 43.29
31.89 33.85 32.72 33.03 32.03 29.61 29.50 29.59 31.89 37.04 33.71 32.20

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