Federal Bank Ltd

About

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.[1]

Key Points

Ratios
Capital Adequacy Ratio - 14.31%
Net Interest Margin - 3.22%
Gross NPA - 2.71%
Net NPA - 0.60%
CASA Ratio - 23%[1]

See full details
  • Market Cap 16,991 Cr.
  • Current Price 80.8
  • High / Low 92.5 / 48.0
  • Stock P/E 10.5
  • Book Value 78.5
  • Dividend Yield 0.87 %
  • ROCE 5.59 %
  • ROE 10.6 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.03 times its book value
  • Company has delivered good profit growth of 27.86% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 10.64% for last 3 years.
  • Contingent liabilities of Rs.40404.23 Cr.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Banks Industry: Banks - Private Sector

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
Revenue 2,813 3,003 3,107 3,295 3,337 3,414 3,544 3,572 3,622 3,604 3,516 3,525
Interest 1,761 1,896 1,954 2,097 2,154 2,206 2,221 2,197 2,159 2,076 2,003 2,000
949 925 957 984 1,116 1,031 1,602 1,305 1,553 1,450 1,320 1,661
Financing Profit 103 181 196 214 66 177 -279 70 -90 78 192 -136
Financing Margin % 4% 6% 6% 6% 2% 5% -8% 2% -2% 2% 5% -4%
Other Income 323 346 395 371 412 421 678 483 509 485 481 623
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 426 527 591 585 478 598 399 554 419 563 673 487
Tax % 34% 35% 34% 36% 11% 24% 24% 26% 25% 25% 26% 27%
Net Profit 281 340 423 374 425 452 329 410 315 418 521 357
EPS in Rs 1.42 1.71 2.13 1.88 2.14 2.27 1.65 2.05 1.58 2.10 2.61 1.79
Gross NPA % 3.10% 3.14% 2.92% 2.98% 3.06% 2.97% 2.82% 2.94% 2.80% 2.67% 3.35% 3.51%
Net NPA % 1.78% 1.73% 1.49% 1.50% 1.60% 1.63% 1.32% 1.23% 0.99% 0.61% 1.18% 1.28%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
Revenue 3,673 4,052 5,582 6,246 7,006 7,488 7,826 8,783 9,915 11,635 13,590 14,314 14,267
Interest 2,262 2,304 3,607 4,209 4,728 5,056 5,259 5,653 6,226 7,316 8,678 8,435 8,239
1,059 1,340 1,302 1,410 1,664 1,701 2,529 2,749 3,331 3,572 4,608 5,514 5,984
Financing Profit 353 408 673 628 614 731 38 382 358 747 304 366 45
Financing Margin % 10% 10% 12% 10% 9% 10% 0% 4% 4% 6% 2% 3% 0%
Other Income 533 518 532 665 685 879 808 1,084 1,160 1,335 1,882 1,958 2,097
Depreciation 50 54 59 82 98 79 108 124 125 122 126 115 0
Profit before tax 835 872 1,147 1,210 1,202 1,530 739 1,342 1,393 1,960 2,060 2,209 2,142
Tax % 47% 36% 34% 30% 31% 34% 34% 36% 35% 35% 25% 25%
Net Profit 440 556 754 853 850 1,058 486 867 935 1,316 1,580 1,664 1,612
EPS in Rs 4.41 4.98 4.97 6.17 2.83 5.03 4.74 6.63 7.93 8.34 8.08
Dividend Payout % 19% 26% 20% 18% 20% 18% 25% 18% 21% 21% 0% 8%
Compounded Sales Growth
10 Years:13%
5 Years:13%
3 Years:13%
TTM:3%
Compounded Profit Growth
10 Years:12%
5 Years:28%
3 Years:21%
TTM:0%
Stock Price CAGR
10 Years:8%
5 Years:1%
3 Years:5%
1 Year:70%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:11%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
171 171 171 171 171 171 344 345 394 397 399 399
Reserves 4,459 4,847 5,421 6,093 6,690 7,529 7,720 8,607 11,880 13,101 14,424 16,103
Borrowings 37,596 44,877 53,201 62,850 65,497 73,216 84,407 104,008 124,299 143,585 164,780 184,457
1,379 1,448 1,751 1,879 2,286 1,993 2,234 2,527 2,640 3,469 3,751 4,008
Total Liabilities 43,605 51,343 60,544 70,993 74,643 82,909 94,706 115,486 139,214 160,552 183,353 204,967
290 293 337 412 414 446 508 477 452 462 477 504
CWIP 0 0 0 2 23 27 16 15 10 18 28 13
Investments 12,982 14,408 17,102 20,854 23,839 20,349 24,920 27,912 30,595 31,676 35,715 36,732
30,333 36,642 43,105 49,724 50,368 62,087 69,262 87,081 108,158 128,397 147,133 167,717
Total Assets 43,605 51,343 60,544 70,993 74,643 82,909 94,706 115,486 139,214 160,552 183,353 204,967

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-555 1,272 -967 2,880 1,197 5,158 -1,557 3,431 -5,051 7,873 3,731 11,178
-59 -147 -1,453 -3,487 -737 -1,364 1,990 -2,384 -1,579 -3,378 -4,688 -3,912
-100 -99 2,209 795 349 -3,544 205 985 8,371 -3,637 3,661 -208
Net Cash Flow -714 1,026 -211 188 808 250 639 2,032 1,741 858 2,704 7,058

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROE % 10% 12% 14% 14% 13% 15% 6% 10% 9% 10% 11% 11%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
36.17 37.34 37.24 37.46 34.95 32.47 33.31 30.95 24.64 21.69 24.51 24.05
29.98 29.94 29.73 30.51 35.44 38.03 37.10 37.16 38.32 44.60 43.29 43.89
33.85 32.72 33.03 32.03 29.61 29.50 29.59 31.89 37.04 33.71 32.20 32.06

Documents