Indbank Merchant Banking Services Ltd

Indbank Merchant Banking Services Ltd

₹ 49.2 -0.41%
23 Feb - close price
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.

  • Market Cap 217 Cr.
  • Current Price 49.2
  • High / Low 60.7 / 20.2
  • Stock P/E 30.8
  • Book Value 17.7
  • Dividend Yield 0.00 %
  • ROCE 8.06 %
  • ROE 4.81 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 2.78 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 7.16% over last 3 years.

* 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.

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
2.60 3.25 3.93 4.01 5.46 5.10 3.51 4.33 5.40 4.22 5.42 6.04 6.60
6.10 2.82 2.58 2.45 6.37 2.87 6.78 2.16 3.01 3.05 3.34 2.73 3.24
Operating Profit -3.50 0.43 1.35 1.56 -0.91 2.23 -3.27 2.17 2.39 1.17 2.08 3.31 3.36
OPM % -134.62% 13.23% 34.35% 38.90% -16.67% 43.73% -93.16% 50.12% 44.26% 27.73% 38.38% 54.80% 50.91%
5.04 0.75 0.82 0.73 4.52 -0.03 3.88 -0.01 0.01 0.01 0.01 0.01 0.01
Interest 0.38 0.38 0.38 0.38 0.38 0.38 0.40 0.40 0.04 0.05 0.03 0.03 0.00
Depreciation 0.05 0.05 0.05 0.05 0.05 0.05 0.09 0.09 0.09 0.09 0.09 0.09 0.10
Profit before tax 1.11 0.75 1.74 1.86 3.18 1.77 0.12 1.67 2.27 1.04 1.97 3.20 3.27
Tax % -44.14% 21.33% 22.41% 22.58% 5.97% 33.33% 666.67% -13.77% 22.91% 48.08% 22.84% 24.38% 21.71%
1.60 0.59 1.36 1.43 2.99 1.18 -0.69 1.90 1.75 0.54 1.52 2.42 2.56
EPS in Rs 0.36 0.13 0.31 0.32 0.67 0.27 -0.16 0.43 0.39 0.12 0.34 0.55 0.58
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
12.28 6.71 7.15 10.11 9.03 10.54 13.82 10.39 11.47 14.91 20.66 18.22 22.28
10.76 6.91 5.39 5.85 5.77 10.13 8.65 8.95 12.48 12.87 14.25 15.00 12.36
Operating Profit 1.52 -0.20 1.76 4.26 3.26 0.41 5.17 1.44 -1.01 2.04 6.41 3.22 9.92
OPM % 12.38% -2.98% 24.62% 42.14% 36.10% 3.89% 37.41% 13.86% -8.81% 13.68% 31.03% 17.67% 44.52%
0.47 1.94 -0.64 2.63 0.59 6.55 0.81 2.13 5.77 4.56 3.87 3.13 0.04
Interest 0.00 0.01 0.14 0.29 0.11 0.81 1.58 1.53 1.52 1.53 1.53 0.89 0.11
Depreciation 0.53 0.71 0.67 0.69 0.60 0.53 0.43 0.23 0.30 0.19 0.20 0.37 0.37
Profit before tax 1.46 1.02 0.31 5.91 3.14 5.62 3.97 1.81 2.94 4.88 8.55 5.09 9.48
Tax % 92.47% 28.43% 3.23% 15.40% 12.10% 5.16% 44.08% 2.76% 28.91% 17.01% 18.60% 31.04%
0.11 0.73 0.30 4.99 2.76 5.34 2.22 1.77 2.09 4.06 6.96 3.50 7.04
EPS in Rs 0.02 0.16 0.07 1.12 0.62 1.20 0.50 0.40 0.47 0.91 1.57 0.79 1.59
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: 11%
5 Years: 6%
3 Years: 17%
TTM: 21%
Compounded Profit Growth
10 Years: 68%
5 Years: 10%
3 Years: 19%
TTM: 70%
Stock Price CAGR
10 Years: 31%
5 Years: 41%
3 Years: 47%
1 Year: 102%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 7%
Last Year: 5%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
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 44.38
Reserves -3.71 -2.99 -2.68 1.91 4.67 9.98 12.13 13.86 15.83 19.90 26.75 30.13 34.00
0.00 0.00 0.00 0.00 0.00 1.58 0.03 0.00 0.00 0.00 0.00 2.79 0.00
9.17 5.60 9.60 6.20 8.66 24.39 24.47 9.30 13.94 19.91 23.56 20.08 26.82
Total Liabilities 49.84 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 94.69 97.38 105.20
6.13 6.48 5.66 5.06 4.53 4.07 3.73 3.58 3.33 3.37 3.71 3.55 3.41
CWIP 0.00 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 4.65 4.37 3.40 3.47 3.04 2.10 1.24 0.45 0.19 0.80 1.30 1.37 1.83
39.06 36.14 42.24 43.96 50.14 74.16 76.04 63.51 70.63 80.02 89.55 92.46 99.96
Total Assets 49.84 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 94.69 97.38 105.20

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0.46 -0.37 7.90 0.84 4.34 5.55 4.65 4.95 14.92 8.14 0.55 0.03
-1.85 -1.00 -4.58 -4.31 -4.56 -6.47 -2.94 -3.41 -10.32 -8.44 -0.98 -1.03
0.00 0.00 0.00 0.00 0.00 0.00 -0.80 0.00 0.00 -1.51 -1.51 -0.89
Net Cash Flow -2.31 -1.37 3.32 -3.47 -0.22 -0.92 0.90 1.54 4.61 -1.80 -1.93 -1.89

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 161.40 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.54 82.54
Inventory Days
Days Payable
Cash Conversion Cycle 161.40 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.54 82.54
Working Capital Days 401.86 844.23 429.32 600.39 625.31 642.39 453.21 -23.19 -308.36 -286.66 -322.25 1.40
ROCE % 7.83% 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

6 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
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% 0.00% 0.01% 0.01% 0.00% 0.00% 0.01% 0.01%
0.19% 0.19% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.09%
34.97% 34.97% 35.07% 35.07% 35.07% 35.07% 35.06% 35.07% 35.07% 35.06% 35.07% 35.06%
No. of Shareholders 38,21840,10639,78140,47541,41342,49343,03144,27844,13143,62744,71043,353

* 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.

Click on the line-items to see the names of individual entities.

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