---
title: "Indiabulls Financial Services Ltd(Merged) (INDIABULLS) — Share Price, Financials & Analysis"
symbol: "INDIABULLS"
company: "Indiabulls Financial Services Ltd(Merged)"
canonical: "https://tapetide.com/stocks/INDIABULLS"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T19:45:03.276Z"
---

# Indiabulls Financial Services Ltd(Merged) (INDIABULLS)

Canonical page: https://tapetide.com/stocks/INDIABULLS

## Company

- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** indiabulls.com

## Latest Price

## Key Insights

### Strengths

- Company has delivered good profit growth of 20.4% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 44.6%

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 34% | 116% | 20% |
| revenue growth | 53% | 24% | 25% |

## Financial Statements

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 610 | 1241 | 1686 | 2003 | 1626 | 2473 | 3782 |
| Expenses | 201 | 498 | 458 | 790 | 570 | 605 | 595 |
| Operating Profit | 409 | 743 | 1228 | 1213 | 1056 | 1867 | 3187 |
| OPM % | 67 | 60 | 73 | 61 | 65 | 76 | 84 |
| Other Income | 3 | 5 | 3 | 1 | 8 | 35 | 65 |
| Interest | 31 | 68 | 392 | 1029 | 598 | 899 | 1920 |
| Depreciation | 7 | 18 | 7 | 8 | 8 | 11 | 9 |
| Profit before tax | 373 | 663 | 831 | 177 | 457 | 991 | 1322 |
| Tax % | 32 | 33 | 30 | 40 | 33 | 24 | 24 |
| Net Profit | 253 | 443 | 581 | 106 | 307 | 751 | 1006 |
| EPS in Rs | — | 21.49 | 22.67 | 3.92 | 9.72 | 23.88 | 32.01 |
| Dividend Payout % | 12 | 14 | 38 | 51 | 51 | 42 | 41 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 32 | 37 | 51 | 51 | 62 | 62 | 62 |
| Reserves | 1279 | 1463 | 3198 | 3253 | 4248 | 4478 | 4843 |
| Borrowings | 303 | 1414 | 11378 | 6986 | 7850 | 16440 | 19032 |
| Other Liabilities | 942 | 1406 | 1550 | 575 | 1362 | 4324 | 8288 |
| Total Liabilities | 2556 | 4319 | 16177 | 10865 | 13522 | 25305 | 32226 |
| Fixed Assets | 69 | 145 | 48 | 44 | 44 | 42 | 44 |
| CWIP | 3 | 9 | 2 | 1 | 0 | 0 | 0 |
| Investments | 267 | 585 | 513 | 1196 | 1168 | 3089 | 1797 |
| Other Assets | 2216 | 3581 | 15615 | 9624 | 12309 | 22173 | 30384 |
| Total Assets | 2556 | 4319 | 16177 | 10865 | 13522 | 25305 | 32226 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 71 | -565 | -4897 | 769 | -2905 | -8233 | -4718 |
| Cash from Investing Activity | -232 | -640 | -519 | -223 | 937 | 736 | -610 |
| Cash from Financing Activity | 719 | 1450 | 11497 | -4627 | 1720 | 11055 | 5545 |
| Net Cash Flow | 558 | 245 | 6081 | -4081 | -248 | 3558 | 217 |
| Free Cash Flow | 13 | -664 | -4910 | 764 | -2914 | -8246 | -4730 |
| CFO/OP | 39 | -60 | -377 | 80 | -260 | -428 | -141 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 49 | 30 | 3 | 2 | 5 | 1 | 2 |
| Cash Conversion Cycle | 49 | 30 | 3 | 2 | 5 | 1 | 2 |
| Working Capital Days | 458 | 523 | 1517 | 1222 | 2201 | -486 | -771 |
| ROCE % | — | 28 | 14 | 10 | 9 | 11 | 14 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 5 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.97 | Buy |
| EMA (10) | 0.98 | Sell |
| SMA (20) | 1 | Sell |
| EMA (20) | 1.01 | Sell |
| SMA (50) | 1.23 | Sell |
| EMA (50) | 1.13 | Sell |
| SMA (100) | 1.22 | Sell |
| EMA (100) | 1.17 | Sell |
| SMA (200) | 1.11 | Sell |
| EMA (200) | 1.16 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 40.99 | Neutral |
| MACD (12,26,9) | -0.06 | Buy |
| Stochastic (14,3,3) | 47.06 | Neutral |
| ADX (14) | 25.02 | Buy |
| Williams %R (14) | -52.94 | Neutral |
| ATR (14) | 0.06 | High Volatility |
| ROC (12) | -4.85 | Sell |
| Stoch RSI (14) | 96.39 | Sell |
| UO (7,14,28) | 41.99 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_INDIABULLS_2010_2011_16122011082526.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_INDIABULLS_2009_2010_03062011050510.zip) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/532544/5325440312.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/532544/5325440311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/532544/5325440310.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:45:03.276Z.