South Indian Bank Ltd

South Indian Bank Ltd

₹ 27.7 -0.47%
14 Jun - close price
About

Established in 1929, South Indian Bank was the first ‘scheduled bank’ amongst the private banks in Kerala. It has strong presence in south India and particularly in Kerala. South Indian Bank provides retail and corporate banking, para banking activities such as debit card, third party financial product distribution, in addition to Treasury and Foreign Exchange Business.[1]

Key Points

Key Ratios - 9MFY24
Capital Adequacy Ratio - 16.04%
Net Interest Margin - 3.28%
Gross NPA - 4.74%
Net NPA - 1.61%[1]
CASA Ratio - 31.9%[2]

  • Market Cap 7,249 Cr.
  • Current Price 27.7
  • High / Low 36.9 / 16.3
  • Stock P/E 6.77
  • Book Value 25.5
  • Dividend Yield 1.08 %
  • ROCE 6.47 %
  • ROE 16.0 %
  • Face Value 1.00

Pros

  • Stock is trading at 1.09 times its book value
  • Company has delivered good profit growth of 34.0% CAGR over last 5 years
  • Company's working capital requirements have reduced from 175 days to 123 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.61% over past five years.
  • Company has a low return on equity of 10.1% over last 3 years.
  • Contingent liabilities of Rs.27,912 Cr.
  • Company might be capitalizing the interest cost

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 1,708 1,633 1,647 1,671 1,635 1,622 1,740 1,898 1,973 2,025 2,129 2,184 2,275
Interest 1,147 1,091 1,119 1,098 1,038 1,018 1,014 1,073 1,116 1,217 1,298 1,365 1,400
985 979 934 861 591 672 735 629 680 877 777 837 828
Financing Profit -424 -437 -407 -288 6 -69 -9 196 177 -70 53 -18 47
Financing Margin % -25% -27% -25% -17% 0% -4% -0% 10% 9% -3% 3% -1% 2%
435 451 157 222 204 246 255 -34 345 361 356 452 346
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 11 14 -250 -66 210 177 246 162 523 292 409 435 393
Tax % 35% 27% 25% 24% -29% 35% 9% 36% 36% 31% 33% 30% 27%
7 10 -187 -50 272 115 223 103 334 202 275 305 288
EPS in Rs 0.03 0.04 -0.72 -0.19 1.04 0.44 0.85 0.39 1.28 0.77 1.05 1.17 1.10
Gross NPA % 6.97% 8.02% 6.65% 6.56% 5.90% 5.87% 5.67% 5.48% 5.14% 5.13% 4.96% 4.74% 4.50%
Net NPA % 4.71% 5.05% 3.85% 3.52% 2.97% 2.87% 2.51% 2.26% 1.86% 1.85% 1.70% 1.61% 1.46%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 4,434 5,015 5,286 5,557 5,847 6,193 6,877 7,764 7,305 6,587 7,233 8,613
Interest 3,153 3,616 3,920 4,048 4,172 4,227 4,857 5,446 4,899 4,347 4,221 5,281
920 994 1,396 1,450 1,725 2,239 2,296 3,136 3,467 3,106 2,629 3,319
Financing Profit 361 405 -30 59 -50 -274 -276 -818 -1,060 -866 383 13
Financing Margin % 8% 8% -1% 1% -1% -4% -4% -11% -15% -13% 5% 0%
335 368 497 517 716 837 726 1,046 1,229 1,034 813 1,516
Depreciation 40 45 -1 67 65 64 70 78 83 84 87 0
Profit before tax 656 729 468 510 600 500 380 150 87 84 1,108 1,529
Tax % 23% 30% 34% 35% 35% 33% 35% 30% 29% 46% 30% 30%
502 508 307 333 392 335 248 105 62 45 775 1,070
EPS in Rs 2.25 2.27 1.37 1.48 1.74 1.48 1.09 0.46 0.24 0.17 2.96 4.09
Dividend Payout % 19% 21% 26% 20% 18% 22% 18% 0% 0% 0% 8% 7%
Compounded Sales Growth
10 Years: 6%
5 Years: 5%
3 Years: 6%
TTM: 19%
Compounded Profit Growth
10 Years: 8%
5 Years: 34%
3 Years: 159%
TTM: 38%
Stock Price CAGR
10 Years: 2%
5 Years: 18%
3 Years: 38%
1 Year: 68%
Return on Equity
10 Years: 7%
5 Years: 7%
3 Years: 10%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 134 134 135 135 180 181 181 181 209 209 209
Reserves 2,872 3,236 3,457 3,711 4,668 5,062 5,156 5,296 5,600 5,645 6,465
45,547 50,222 54,145 58,336 68,075 76,073 85,323 89,927 86,819 92,437 98,645
1,242 1,394 1,380 1,294 1,388 1,370 1,619 1,628 1,521 1,761 2,378
Total Liabilities 49,795 54,986 59,116 63,475 74,312 82,686 92,279 97,033 94,149 100,052 107,698
396 404 469 467 618 642 677 776 755 752 754
CWIP 0 8 10 20 38 39 32 24 40 59 124
Investments 12,523 14,352 14,086 14,744 19,430 18,363 19,081 20,625 20,321 21,445 24,642
36,875 40,222 44,551 48,244 54,226 63,642 72,489 75,608 73,033 77,796 82,178
Total Assets 49,795 54,986 59,116 63,475 74,312 82,686 92,279 97,033 94,149 100,052 107,698

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,699 926 687 109 1,957 793 1,678 656 5,808 5,165 -7,261 7,075
-1,348 -1,850 -173 -1,398 -1,842 -824 -1,175 -1,577 -1,092 -1,741 -386 -1,986
345 -194 -137 168 498 364 98 288 -138 -989 3,524 -2,148
Net Cash Flow 1,695 -1,118 377 -1,121 613 333 602 -633 4,578 2,436 -4,123 2,942

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 19% 16% 9% 9% 9% 7% 5% 2% 1% 1% 12%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
7.03% 7.01% 7.28% 7.36% 7.45% 7.82% 14.88% 14.58% 13.59% 15.00% 14.68% 15.17%
17.00% 16.62% 16.62% 16.53% 16.12% 11.64% 6.87% 7.64% 7.84% 6.59% 7.61% 4.61%
75.97% 76.37% 76.10% 76.11% 76.43% 80.54% 78.22% 77.77% 78.57% 78.40% 77.70% 80.20%
No. of Shareholders 6,50,8826,51,2366,57,0446,64,1996,61,7076,97,6576,95,0227,09,8777,15,0158,09,6648,88,39711,04,003

* 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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