Indbank Merchant Banking Services Ltd

₹ 27.9 -6.69%
25 Nov - 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 124 Cr.
  • Current Price 27.9
  • High / Low 31.5 / 17.6
  • Stock P/E 23.0
  • Book Value 16.3
  • Dividend Yield 0.00 %
  • ROCE 14.9 %
  • ROE 10.3 %
  • Face Value 10.0

Pros

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 6.92% over last 3 years.
  • Earnings include an other income of Rs.9.34 Cr.

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1.80 1.96 2.38 2.88 3.28 2.60 3.25 3.93 4.01 5.46 4.24 3.51 4.20
1.89 1.53 7.22 1.89 2.05 6.10 2.82 2.58 2.45 6.37 2.86 6.78 2.16
Operating Profit -0.09 0.43 -4.84 0.99 1.23 -3.50 0.43 1.35 1.56 -0.91 1.38 -3.27 2.04
OPM % -5.00% 21.94% -203.36% 34.38% 37.50% -134.62% 13.23% 34.35% 38.90% -16.67% 32.55% -93.16% 48.57%
0.77 0.86 6.03 0.80 0.86 5.04 0.75 0.82 0.73 4.52 0.82 3.88 0.12
Interest 0.38 0.38 0.39 0.38 0.39 0.38 0.38 0.38 0.38 0.38 0.38 0.40 0.40
Depreciation 0.08 0.09 0.05 0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.05 0.09 0.09
Profit before tax 0.22 0.82 0.75 1.37 1.66 1.11 0.75 1.74 1.86 3.18 1.77 0.12 1.67
Tax % 9.09% 2.44% 77.33% 57.66% 22.29% -44.14% 21.33% 22.41% 22.58% 5.97% 33.33% 666.67% -13.77%
Net Profit 0.20 0.81 0.17 0.58 1.28 1.60 0.59 1.36 1.43 2.99 1.18 -0.69 1.90
EPS in Rs 0.05 0.18 0.04 0.13 0.29 0.36 0.13 0.31 0.32 0.67 0.27 -0.16 0.43
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
6.70 12.28 6.71 7.15 10.11 9.03 10.54 13.82 10.39 11.47 14.91 20.66 17.41
14.70 10.76 6.91 5.39 5.85 5.77 10.13 8.65 8.95 12.48 12.87 14.25 18.17
Operating Profit -8.00 1.52 -0.20 1.76 4.26 3.26 0.41 5.17 1.44 -1.01 2.04 6.41 -0.76
OPM % -119.40% 12.38% -2.98% 24.62% 42.14% 36.10% 3.89% 37.41% 13.86% -8.81% 13.68% 31.03% -4.37%
0.02 0.47 1.94 -0.64 2.63 0.59 6.55 0.81 2.13 5.77 4.56 3.87 9.34
Interest 0.00 0.00 0.01 0.14 0.29 0.11 0.81 1.58 1.53 1.52 1.53 1.53 1.56
Depreciation 0.62 0.53 0.71 0.67 0.69 0.60 0.53 0.43 0.23 0.30 0.19 0.20 0.28
Profit before tax -8.60 1.46 1.02 0.31 5.91 3.14 5.62 3.97 1.81 2.94 4.88 8.55 6.74
Tax % -15.47% 92.47% 28.43% 3.23% 15.40% 12.10% 5.16% 44.08% 2.76% 28.91% 17.01% 18.60%
Net Profit -9.93 0.11 0.73 0.30 4.99 2.76 5.34 2.22 1.77 2.09 4.06 6.96 5.38
EPS in Rs -2.24 0.02 0.16 0.07 1.12 0.62 1.20 0.50 0.40 0.47 0.91 1.57 1.21
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: 5%
5 Years: 14%
3 Years: 26%
TTM: 26%
Compounded Profit Growth
10 Years: 15%
5 Years: 5%
3 Years: 60%
TTM: 8%
Stock Price CAGR
10 Years: 15%
5 Years: 6%
3 Years: 57%
1 Year: 33%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 7%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
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 -3.83 -3.71 -2.99 -2.68 1.91 4.67 9.98 12.13 13.86 15.83 19.90 26.75 27.91
0.00 0.00 0.00 0.00 0.00 0.00 1.58 0.03 0.00 0.00 0.00 0.00 9.23
7.27 9.17 5.60 9.60 6.20 8.66 24.39 24.47 9.30 13.94 19.91 23.56 17.59
Total Liabilities 47.82 49.84 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 94.69 99.11
6.31 6.13 6.48 5.66 5.06 4.53 4.07 3.73 3.58 3.33 3.37 3.71 3.69
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.00
Investments 6.19 4.65 4.37 3.40 3.47 3.04 2.10 1.24 0.45 0.19 0.80 1.30 2.65
35.32 39.06 36.14 42.24 43.96 50.14 74.16 76.04 63.51 70.63 80.02 89.55 92.77
Total Assets 47.82 49.84 46.99 51.30 52.49 57.71 80.33 81.01 67.54 74.15 84.19 94.69 99.11

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-2.34 -0.46 -0.37 7.90 0.84 4.34 5.55 4.65 4.95 14.92 8.14 13.38
1.76 -1.85 -1.00 -4.58 -4.31 -4.56 -6.47 -2.94 -3.41 -10.32 -8.44 -12.27
0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.80 0.00 0.00 -1.51 -1.50
Net Cash Flow -0.58 -2.31 -1.37 3.32 -3.47 -0.22 -0.92 0.90 1.54 4.61 -1.80 -0.40

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 269.66 161.40 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.54
Inventory Days
Days Payable
Cash Conversion Cycle 269.66 161.40 246.42 150.59 235.03 300.33 318.60 210.50 184.43 29.28 78.58 59.54
Working Capital Days 718.56 401.86 844.23 429.32 600.39 625.31 642.39 453.21 -23.19 -308.36 -286.66 -322.25
ROCE % -18.89% 7.83% 0.07% 3.35% 14.00% 6.80% 12.36% 9.87% 5.68% 7.51% 10.27% 14.89%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
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 0.00 0.00 0.00 0.00 0.00 0.01
0.34 0.20 0.20 0.19 0.19 0.19 0.19 0.09 0.09 0.09 0.09 0.09
34.82 34.97 34.97 34.97 34.97 34.97 34.97 35.07 35.07 35.07 35.07 35.06

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