IndusInd Bank Ltd

IndusInd Bank Ltd

₹ 1,480 -0.59%
23 Feb - close price
About

IndusInd Bank Limited was incorporated in 1994 as a commercial bank under the Banking Regulation Act, 1949. The Bank is publicly held and provides a wide range of banking products and financial services to corporate and retail clients besides undertaking treasury operations. The Bank operates in India including at the International Financial Service Centres in India.[1]

Key Points

India's First Private Bank
Indusind bank was the first Private sector bank in India set up in Mumbai in April 1994. Indusind Bank Ltd India was started under the chairmanship of Srichand P Hinduja, the head of the Hinduja Group of Companies with the primary objective of serving the NRI community. [1]

  • Market Cap 1,15,189 Cr.
  • Current Price 1,480
  • High / Low 1,694 / 990
  • Stock P/E 13.3
  • Book Value 704
  • Dividend Yield 0.95 %
  • ROCE 6.91 %
  • ROE 14.4 %
  • Face Value 10.0

Pros

  • Company's working capital requirements have reduced from 86.2 days to 68.3 days

Cons

  • Company has low interest coverage ratio.
  • Promoter holding is low: 15.8%
  • Company has a low return on equity of 10.9% over last 3 years.
  • Contingent liabilities of Rs.12,98,008 Cr.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 45.5% of their holding.
  • Earnings include an other income of Rs.9,038 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.

Peer comparison

Sector: Banks Industry: Banks - Private Sector

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
Revenue 7,242 7,419 7,575 7,650 7,737 7,860 8,182 8,708 9,457 10,021 10,730 11,248 11,572
Interest 3,835 3,885 4,011 3,992 3,944 3,875 4,057 4,406 4,962 5,351 5,863 6,171 6,277
3,992 4,119 3,994 4,028 4,119 4,020 3,911 3,934 3,956 4,097 4,238 4,451 4,623
Financing Profit -586 -584 -430 -370 -326 -35 214 368 539 572 629 625 672
Financing Margin % -8% -8% -6% -5% -4% -0% 3% 4% 6% 6% 6% 6% 6%
1,705 1,780 1,716 1,841 1,877 1,900 1,929 2,011 2,076 2,151 2,210 2,282 2,396
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 1,120 1,196 1,287 1,471 1,551 1,865 2,143 2,379 2,616 2,723 2,838 2,907 3,068
Tax % 24% 27% 24% 24% 25% 27% 25% 25% 25% 25% 25% 25% 25%
853 876 975 1,114 1,161 1,361 1,603 1,787 1,959 2,041 2,124 2,181 2,298
EPS in Rs 11.26 11.33 12.60 14.38 14.99 17.57 20.68 23.05 25.27 26.30 27.37 28.07 29.55
Gross NPA % 1.74% 2.67% 2.88% 2.77% 2.48% 2.27% 2.35% 2.11% 2.06% 1.98% 1.94% 1.93% 1.92%
Net NPA % 0.22% 0.69% 0.84% 0.80% 0.71% 0.64% 0.67% 0.61% 0.62% 0.59% 0.58% 0.57% 0.57%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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
Revenue 5,359 6,983 8,254 9,692 11,872 14,406 17,281 22,261 28,783 29,000 30,822 36,368 43,570
Interest 3,655 4,750 5,363 6,272 7,355 8,343 9,783 13,415 16,724 15,472 15,822 18,776 23,661
1,449 1,947 2,555 3,133 4,188 5,684 6,555 9,283 12,611 15,997 15,840 15,525 17,411
Financing Profit 255 286 335 288 329 379 942 -437 -553 -2,469 -839 2,067 2,498
Financing Margin % 5% 4% 4% 3% 3% 3% 5% -2% -2% -9% -3% 6% 6%
1,012 1,363 1,891 2,548 3,297 4,171 4,750 5,647 6,951 6,559 7,334 8,166 9,038
Depreciation 75 73 98 127 157 191 212 229 278 305 321 373 0
Profit before tax 1,192 1,576 2,128 2,709 3,469 4,360 5,481 4,981 6,121 3,784 6,174 9,860 11,536
Tax % 33% 33% 34% 34% 34% 34% 34% 34% 28% 25% 25% 25%
803 1,061 1,408 1,794 2,286 2,868 3,606 3,301 4,418 2,836 4,611 7,390 8,643
EPS in Rs 17.17 20.30 26.80 33.88 38.43 47.95 60.08 54.77 63.70 36.68 59.52 95.24 111.29
Dividend Payout % 13% 15% 13% 12% 12% 13% 12% 14% 0% 14% 14% 15%
Compounded Sales Growth
10 Years: 18%
5 Years: 16%
3 Years: 8%
TTM: 27%
Compounded Profit Growth
10 Years: 21%
5 Years: 15%
3 Years: 19%
TTM: 29%
Stock Price CAGR
10 Years: 14%
5 Years: 0%
3 Years: 10%
1 Year: 37%
Return on Equity
10 Years: 13%
5 Years: 12%
3 Years: 11%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity Capital 468 523 526 529 595 598 600 603 694 773 775 776
Reserves 4,274 7,107 8,517 10,115 17,101 20,048 23,241 26,083 34,013 42,592 46,923 53,846
51,044 63,576 75,264 94,752 117,996 149,026 189,928 242,189 262,793 307,528 341,005 385,449
1,811 2,100 2,719 6,390 7,205 8,976 7,856 8,944 9,558 12,080 13,273 17,733
Total Liabilities 57,596 73,307 87,026 111,787 142,897 178,648 221,626 277,819 307,058 362,973 401,975 457,804
614 741 991 1,120 1,218 1,307 1,313 1,688 1,742 1,734 1,754 1,857
CWIP 43 16 25 38 37 28 25 22 78 75 95 135
Investments 14,572 19,654 21,563 22,878 34,054 36,702 50,077 59,266 59,980 69,695 70,971 83,116
42,367 52,896 64,447 87,751 107,587 140,611 170,211 216,843 245,257 291,469 329,155 372,695
Total Assets 57,596 73,307 87,026 111,787 142,897 178,648 221,626 277,819 307,058 362,973 401,975 457,804

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-840 -486 -4,106 -1,421 -2,927 11,569 -20,700 -6,389 -12,039 44,646 16,600 -12,438
-141 -174 -174 -276 -258 -285 -217 -633 526 -226 -351 -441
2,496 1,969 4,200 5,707 2,517 -2,768 15,505 8,590 12,733 -4,096 -4,302 1,115
Net Cash Flow 1,515 1,309 -79 4,010 -667 8,516 -5,412 1,568 1,220 40,324 11,947 -11,763

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 18% 17% 17% 18% 16% 15% 16% 13% 14% 7% 10% 14%

Shareholding Pattern

Numbers in percentages

109 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
16.55% 16.54% 16.54% 16.53% 16.52% 16.51% 16.51% 16.51% 16.50% 16.49% 16.47% 16.45%
50.91% 52.05% 51.44% 47.65% 46.33% 45.83% 46.97% 44.79% 42.16% 42.34% 41.48% 42.47%
18.11% 17.74% 18.97% 20.22% 21.85% 21.02% 22.24% 24.63% 26.54% 26.22% 28.17% 26.21%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.37% 0.37% 0.37% 0.37% 0.37% 0.36%
14.43% 13.66% 13.05% 15.60% 15.30% 16.63% 13.93% 13.70% 14.45% 14.59% 13.50% 14.52%
No. of Shareholders 4,20,3503,96,2953,38,4964,71,8154,43,1124,31,0313,58,2513,45,1373,78,3033,64,2903,60,0273,59,688

* 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.

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