Tamilnad Mercantile Bank Ltd

₹ 890 -0.08%

13 Nov - close price

About

Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs).^[1]

Key Points

Leading Private sector Bank:^[1]^[2]^[3]
TMB is a 100-year-old leading private sector bank in India with 614 branches out of which 73% of the branches are based in Tamil Nadu.

Website BSE NSE

Market Cap ₹ 14,094 Cr.
Current Price ₹ 890
High / Low ₹ 955 / 492
Stock P/E 8.93
Book Value ₹ 680
Dividend Yield 1.40 %
ROCE 7.51 %
ROE 14.0 %
Face Value ₹ 10.0

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Pros

Company's working capital requirements have reduced from 73.9 days to 52.1 days

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 10.0% over past five years.
Contingent liabilities of Rs.9,453 Cr.
Company might be capitalizing the interest cost
Dividend payout has been low at 14.8% of profits 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.

Peer comparison

Financial Services Financial Services Banks Private Sector Bank

Part of BSE Financial Services BSE 1000 BSE MidSmall Private Banks Quality Tilt Nifty Smallcap 500 BSE Midsmall Private Banks Nifty Total Market Nifty Microcap 250

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	1,209	1,229	1,254	1,281	1,337	1,331	1,342	1,386	1,413	1,469	1,550	1,662	1,820
YoY Revenue growth	+21%	+21%	+17%	+11%	+11%	+8%	+7%	+8%	+6%	+10%	+16%	+20%	+29%
Interest	676	692	687	715	741	761	774	807	816	823	846	897	1,013
	347	327	388	417	423	355	382	407	373	375	443	446	431
Financing Profit	186	210	179	150	173	216	186	173	224	271	262	319	376
Financing Margin %	15%	17%	14%	12%	13%	16%	14%	12%	16%	18%	17%	19%	21%
	156	158	164	234	227	189	200	231	208	196	242	238	232
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	342	368	343	383	400	404	387	404	432	467	504	557	608
Tax %	20%	23%	26%	25%	24%	26%	25%	25%	27%	27%	26%	26%	26%
	274	284	253	287	303	300	292	305	318	342	374	412	451
EPS in Rs	17.27	17.95	15.98	18.14	19.15	18.96	18.43	19.25	20.05	21.57	23.60	25.99	28.49
Gross NPA %	1.70%	1.69%	1.44%	1.44%	1.37%	1.32%	1.25%	1.22%	1.01%	0.91%	0.73%	0.69%	0.61%
Net NPA %	0.99%	0.98%	0.85%	0.65%	0.46%	0.41%	0.36%	0.33%	0.26%	0.20%	0.18%	0.17%	0.14%
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,250	3,224	3,466	3,609	3,834	4,081	4,848	5,291	5,819	6,502
Revenue growth		-1%	+7%	+4%	+6%	+6%	+19%	+9%	+10%	+19%
Interest	2,041	1,994	2,147	2,072	2,019	1,987	2,697	2,990	3,292	3,580
	1,366	1,350	1,231	1,355	1,470	1,276	1,327	1,490	1,505	1,696
Financing Profit	-157	-120	89	183	346	818	824	811	1,022	1,227
Financing Margin %	-5%	-4%	3%	5%	9%	20%	17%	15%	18%	19%
	506	414	526	644	812	629	645	850	877	908
Depreciation	40	36	30	29	33	54	75	86	93	0
Profit before tax	310	259	585	798	1,125	1,394	1,394	1,575	1,807	2,136
Tax %	28%	0%	30%	24%	27%	26%	23%	25%	26%
	222	259	408	603	822	1,029	1,072	1,183	1,338	1,578
EPS in Rs	15.57	18.14	28.61	42.34	57.67	65.00	67.70	74.68	84.47	99.65
Dividend Payout %	21%	13%	0%	0%	9%	8%	15%	15%	15%

Compounded Sales Growth
10 Years:	%
5 Years:	10%
3 Years:	13%
TTM:	19%

Compounded Profit Growth
10 Years:	%
5 Years:	17%
3 Years:	9%
TTM:	30%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	19%
1 Year:	77%

Return on Equity
10 Years:	%
5 Years:	15%
3 Years:	14%
Last Year:	14%

Balance Sheet

Figures in Rs. Crores

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	143	143	143	143	143	158	158	158	158	158
Reserves	3,262	3,476	3,837	4,437	5,193	6,770	7,763	8,850	9,952	10,611
Deposits	32,428	35,136	36,825	40,970	44,933	47,766	49,515	53,689	61,712	69,546
Borrowing	513	0	324	0	0	525	1,301	500	700	2,229
	1,522	1,719	1,604	1,948	2,559	2,646	2,815	3,252	2,777	3,407
Total Liabilities	37,868	40,473	42,733	47,499	52,828	57,866	61,552	66,450	75,300	85,951
	140	138	128	137	211	246	271	284	311	314
CWIP	0	0	0	0	0	0	0	0	0	0
Investments	10,364	9,107	9,467	11,703	13,242	14,156	15,263	15,101	15,693	18,800
	27,364	31,228	33,137	35,658	39,374	43,464	46,019	51,065	59,296	66,837
Total Assets	37,868	40,473	42,733	47,499	52,828	57,866	61,552	66,450	75,300	85,951

Cash Flows

Figures in Rs. Crores

	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-389	567	-670	1,325	-1,270	-611	1,899	-101
	-26	-20	-37	-107	-89	-100	-99	-118
	472	269	-324	-71	1,088	697	-960	26
Net Cash Flow	58	816	-1,031	1,147	-270	-14	840	-193
Free Cash Flow	-414	547	-707	1,218	-1,358	-711	1,800	-219

Ratios

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	7%	7%	11%	14%	17%	17%	14%	14%	14%

Insights

In beta

Mar 2016

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Mar 2018

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Mar 2020

Mar 2021

Mar 2022

Mar 2023

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Mar 2026

CASA Ratio
%

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Credit-to-Debit (CD) Ratio
%

Gross NPA Ratio
%

Total Deposits
INR Crore

Total Gross Advances
INR Crore

Number of Branches
Count

Slippage Ratio
%

Gold Loan Portfolio
INR Crore

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	3.13%	3.45%	3.67%	4.08%	4.12%	4.22%	4.58%	4.65%	4.95%	6.19%	6.73%	6.85%
	3.20%	2.75%	2.73%	2.22%	2.67%	2.66%	2.40%	2.41%	2.47%	1.91%	1.96%	2.07%
	93.68%	93.79%	93.59%	93.69%	93.22%	93.12%	93.03%	92.94%	92.58%	91.91%	91.32%	91.06%
No. of Shareholders	1,05,095	1,13,643	1,16,186	1,20,897	1,23,233	1,27,154	1,25,220	1,24,440	1,19,203	1,17,065	1,17,147	1,19,980

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	0.22%	3.45%	4.22%	6.19%	6.85%
	5.32%	2.75%	2.66%	1.91%	2.07%
	94.46%	93.79%	93.12%	91.91%	91.06%
No. of Shareholders	96,007	1,13,643	1,27,154	1,17,065	1,19,980

* 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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