Indian Bank
Indian Bank
Financial Services F&OKey Fundamentals
LargecapPublic Sector BankBanksPrice-based figures as of 9 Oct 2026, 3:55 pm IST · EPS basis: Consolidated · TTM
Tapetide Score
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Key Insights
Strengths
2- Company has delivered good profit growth of 30.0% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.9%
Weaknesses
4- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.5% over past five years.
- Contingent liabilities of Rs.2,66,319 Cr.
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-01 close, Indian Bank traded at Rs 793.15, giving it a market capitalisation of Rs 1,06,834.45 Cr. On that price it was valued at 8.36x trailing earnings (EPS Rs 94.91) and 1.39x book, with a 2.26% dividend yield and an ROE of 15.27%. Profit has compounded at 30% a year over 5 years, but trailing-twelve-month (TTM) profit growth has slowed to 11%, revenue growth has stayed in the 10-14% range, and the stock was 20.8% below its 52-week high of Rs 1,000.9.
- Profit has compounded at 30% CAGR over 5 years, 28% over 3 years and 32% over 10 years, showing a long, sustained earnings recovery.
- A trailing P/E of 8.36x on TTM EPS of Rs 94.91 works out to an earnings yield of about 12%, which is a low multiple for a bank earning a 15.27% ROE.
- ROE is 15.27% now, up from a 10-year average of 12% and a 5-year average of 14%, with a 3-year average of 16%. Return quality has improved structurally over the decade.
- A P/B of 1.39x against a 15.27% ROE implies a price-to-book that is modest relative to returns. The implied book value is about Rs 571 per share.
- A 2.26% dividend yield comes from a payout ratio of only 19.9%, so about 80% of earnings is retained to fund balance-sheet growth and capital buffers.
- Shareholders have earned 41% CAGR over 5 years and 23% over 3 years, reflecting the market's re-rating of the bank's turnaround.
- At Rs 793.15, the stock was 20.8% below its 52-week high of Rs 1,000.9. That pullback has compressed valuation even though TTM profit still grew 11%.
- Profit growth has slowed sharply, from 30% (5-year CAGR) and 28% (3-year CAGR) to 11% TTM. This suggests the boost from lower credit costs and a cleaner balance sheet is fading.
- Revenue growth is moderate: 10% TTM, 12% over 5 years and 14% over 3 years. Without the earlier margin and provisioning boost, earnings growth may move closer to this rate.
- The stock has returned only 4% over the past year, against 41% CAGR over 5 years. It traded just 5.1% above its 52-week low of Rs 754.9, showing weak recent momentum.
- Contingent liabilities of Rs 2,66,319 Cr are about 2.5x the Rs 1,06,834.45 Cr market cap. They include guarantees, letters of credit and derivative exposures that could become on-balance-sheet risk in a stressed credit cycle.
- ROCE is low at 5.75%, and the bank is flagged for low interest coverage. This partly reflects how banks are structured, but it shows how thin the spread is between the cost of funds and asset yields, so margins are sensitive to rate changes.
- The 2.26% yield rests on a 19.9% payout ratio, which is modest. Income-focused investors depend on the bank's capital needs and on dividend policy as a public sector bank.
- The 10-year stock CAGR of 14% is well below the 10-year profit CAGR of 32%. This suggests the market has historically assigned the bank a valuation discount, which may persist.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Union strike threat to operations Sep 9
Indian Bank disclosed strike notices from the United Forum of Bank Unions for September and October 2026. The bank warned that branch operations may be affected if the strikes go ahead.
- NSE IPO valuation trimmed Sep 9
The NSE IPO price band is expected at ₹1,700-1,785 per share, down from an earlier estimate of about ₹2,000, and the OFS may shrink to 5.2%-5.5% from 6%. That lowers the likely value of Indian Bank's 15 lakh share stake sale to roughly ₹255-268 crore. The stock fell 0.99% to ₹851.4 on the filing day.
- Q2FY27 business up 14.2% Oct 1
Provisional total business reached ₹15.96 lakh crore in Q2FY27, up 14.2% YoY, with gross advances up 16.6% YoY. The CASA ratio stood at 39.28%.
- Life insurance, AMC, Dubai expansion Sep 13
The bank is seeking board approval to enter life insurance and asset management, with the process expected to take about one year. It already holds a 28.52% stake in Universal Sompo General Insurance. The board has approved a Dubai representative office, and the bank is exploring Malaysia and Indonesia.
- NSE stake monetisation via OFS Sep 9
Indian Bank plans to sell up to 15 lakh NSE shares, or 17.91% of its NSE holding, through the IPO's offer for sale. The consent letter was signed on September 9, 2026. The bank received ₹29.31 crore in NSE dividends for FY26.
- AI-TARA and digital platform launches Sep 10
At Global Fintech Fest 2026, the bank launched AI-TARA, a voice banking assistant in 10 languages that handles fund transfers, IMPS and FD creation. It also showcased the Smart Wealth personal finance tool and the IND Cash Optima corporate cash management platform.
- ₹16,000 crore bonds outstanding Oct 5
As of September 30, 2026, Indian Bank had ₹16,000 crore in outstanding debt securities. These are spread across four bonds with coupons from 7.12% to 8.15%.
- ED Shiv Bajrang Singh tenure extended Sep 25
A Central Government notification extended Executive Director Shiv Bajrang Singh's tenure until February 28, 2027, or his superannuation.
- Investor meet with Dymon Asia Sep 28
The bank held a virtual one-to-one meeting with Dymon Asia Capital on September 28, 2026. Only publicly available information was discussed.
TL;DR: Indian Bank's core business is growing well: total business rose 14.2% YoY to ₹15.96 lakh crore and advances grew 16.6% in Q2FY27, with a CASA ratio near 39%. It is also building non-interest income through planned life insurance and AMC ventures, a Dubai office and the NSE stake sale. The main risks are possible union strikes in September-October and a smaller NSE stake gain after the IPO price band was cut. The overall trend looks better, and the next things to watch are Q2FY27 margins and asset quality.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 13,050 | 13,764 | 14,203 | 14,633 | 15,041 | 15,369 | 15,770 | 15,860 | 16,285 | 16,628 | 17,102 | 17,488 | 18,095 |
| Expenses | 5,161 | 5,150 | 5,158 | 5,378 | 4,994 | 5,144 | 5,102 | 5,097 | 4,880 | 5,108 | 5,492 | 5,811 | 5,946 |
| Financing Profit | 543 | 611 | 661 | 646 | 1,186 | 1,072 | 1,323 | 1,295 | 1,481 | 1,480 | 1,407 | 1,305 | 1,492 |
| Fin. Margin % | 4% | 4% | 5% | 4% | 8% | 7% | 8% | 8% | 9% | 9% | 8% | 7% | 8% |
| Other Income | 1,871 | 2,166 | 2,113 | 2,432 | 2,077 | 2,602 | 2,397 | 2,935 | 1,854 | 2,643 | 2,793 | 2,773 | 2,902 |
| Interest | 7,346 | 8,003 | 8,383 | 8,609 | 8,861 | 9,154 | 9,345 | 9,467 | 9,924 | 10,040 | 10,203 | 10,372 | 10,657 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 2,415 | 2,777 | 2,774 | 3,078 | 3,263 | 3,674 | 3,721 | 4,230 | 3,335 | 4,123 | 4,199 | 4,078 | 4,394 |
| Tax % | 29% | 28% | 23% | 27% | 26% | 25% | 23% | 30% | 33% | 26% | 27% | 24% | 25% |
| Net Profit | 1,850 | 2,069 | 2,207 | 2,296 | 2,571 | 2,801 | 2,910 | 2,982 | 2,277 | 3,109 | 3,148 | 3,174 | 3,357 |
| EPS in Rs | 14.85 | 16.61 | 16.37 | 17.04 | 19.08 | 20.79 | 21.6 | 22.14 | 16.9 | 23.07 | 23.36 | 23.56 | 24.92 |
| Gross NPA % | 5.47% | 4.97% | 4.47% | 3.95% | 3.77% | 3.48% | 3.26% | 3.09% | 3.01% | 2.6% | 2.23% | 1.98% | 1.86% |
| Net NPA % | 0.7% | 0.6% | 0.53% | 0.43% | 0.39% | 0.27% | 0.21% | 0.19% | 0.18% | 0.16% | 0.15% | 0.15% | 0.15% |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 15,853 | 16,244 | 16,039 | 17,115 | 19,182 | 21,401 | 39,108 | 38,888 | 44,985 | 55,650 | 62,039 | 67,504 | 69,314 |
| Expenses | 4,219 | 5,128 | 6,144 | 6,998 | 8,289 | 9,238 | 18,029 | 20,285 | 21,577 | 20,342 | 19,818 | 20,710 | 22,358 |
| Financing Profit | 245 | -679 | -996 | -734 | -1,273 | -1,634 | -2,360 | -3,526 | -1,309 | 2,967 | 5,395 | 6,255 | 5,684 |
| Fin. Margin % | 2% | -4% | -6% | -4% | -7% | -8% | -6% | -9% | -3% | 5% | 9% | 9% | 8% |
| Other Income | 1,372 | 1,789 | 2,222 | 2,417 | 1,891 | 3,326 | 6,111 | 7,380 | 7,804 | 8,582 | 10,011 | 10,829 | 11,110 |
| Interest | 11,390 | 11,795 | 10,891 | 10,851 | 12,167 | 13,798 | 23,439 | 22,129 | 24,717 | 32,341 | 36,826 | 40,539 | 41,271 |
| Depreciation | 139 | 151 | 166 | 237 | 259 | 314 | 637 | 601 | 532 | 531 | 543 | 609 | 0 |
| PBT | 1,478 | 958 | 1,060 | 1,445 | 359 | 1,377 | 3,115 | 3,253 | 5,963 | 11,017 | 14,864 | 16,475 | 16,795 |
| Tax % | 31% | 25% | -33% | 13% | 11% | 45% | 3% | -23% | 11% | 26% | 26% | 26% | — |
| Net Profit | 1,051 | 752 | 1,455 | 1,311 | 381 | 862 | 3,151 | 4,144 | 5,574 | 8,423 | 11,264 | 11,707 | 12,787 |
| EPS in Rs | 21.84 | 15.64 | 30.25 | 27.29 | 7.91 | 14.15 | 27.88 | 33.26 | 44.74 | 62.51 | 83.61 | 86.89 | 94.91 |
| Div. Payout % | 19% | 10% | 20% | 0% | 0% | 0% | 7% | 20% | 19% | 19% | 19% | 21% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 480 | 480 | 480 | 480 | 480 | 609 | 1,129 | 1,245 | 1,245 | 1,347 | 1,347 | 1,347 |
| Reserves | 14,549 | 16,010 | 16,954 | 18,235 | 19,235 | 22,159 | 38,329 | 43,706 | 48,261 | 58,901 | 70,166 | 78,696 |
| Borrowing | 2,646 | 3,509 | 12,637 | 19,760 | 12,138 | 20,830 | 24,763 | 17,218 | 22,092 | 23,143 | 41,552 | 46,807 |
| Deposits | 1,69,204 | 1,78,259 | 1,82,480 | 2,08,262 | 2,42,041 | 2,60,184 | 5,38,030 | 5,93,571 | 6,21,123 | 6,87,953 | 7,37,098 | 8,27,654 |
| Other Liabilities | 6,156 | 5,683 | 5,957 | 6,244 | 6,494 | 6,359 | 23,285 | 18,356 | 20,612 | 24,365 | 26,875 | 37,049 |
| Total Liabilities | 1,93,036 | 2,03,941 | 2,18,507 | 2,52,981 | 2,80,388 | 3,10,141 | 6,25,535 | 6,74,096 | 7,13,334 | 7,95,709 | 8,77,039 | 9,91,553 |
| Fixed Assets | 2,969 | 3,508 | 3,436 | 3,421 | 3,964 | 3,898 | 7,392 | 7,694 | 7,472 | 7,538 | 8,854 | 8,674 |
| CWIP | 5 | 8 | 11 | 1 | 1 | 1 | 0 | 5 | 9 | 2 | 3 | 3 |
| Investments | 46,060 | 53,283 | 67,781 | 71,619 | 65,272 | 81,871 | 1,78,292 | 1,76,502 | 1,88,366 | 2,15,242 | 2,28,421 | 2,47,682 |
| Other Assets | 1,44,001 | 1,47,143 | 1,47,280 | 1,77,940 | 2,11,152 | 2,24,371 | 4,39,850 | 4,89,896 | 5,17,487 | 5,72,927 | 6,39,760 | 7,35,194 |
| Total Assets | 1,93,036 | 2,03,941 | 2,18,507 | 2,52,981 | 2,80,388 | 3,10,141 | 6,25,535 | 6,74,096 | 7,13,334 | 7,95,709 | 8,77,039 | 9,91,553 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 5,136 | -931 | -10,814 | -3,676 | 6,270 | -8,396 | 17,065 | 28,750 | -27,894 | -8,617 | 17,396 | 18,815 |
| Investing | -236 | -772 | -179 | -214 | -176 | -247 | 21,233 | -305 | -314 | -618 | -348 | -428 |
| Financing | -2,312 | 620 | 9,041 | 6,776 | 1,000 | 2,552 | 1,866 | 18 | -1,543 | 1,195 | -4,264 | -7,649 |
| Net Cash Flow | 2,588 | -1,082 | -1,952 | 2,886 | 7,094 | -6,091 | 40,163 | 28,464 | -29,751 | -8,040 | 12,784 | 10,738 |
| Free Cash Flow | 4,899 | -1,702 | -10,993 | -3,890 | 6,021 | -8,644 | 16,520 | 28,446 | -28,208 | -9,235 | 17,048 | 18,387 |
| CFO/OP | 44 | -8 | -109 | -36 | 58 | -69 | 81 | 155 | -119 | -24 | 41 | 40 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 7% | 5% | 9% | 7% | 2% | 4% | 10% | 10% | 12% | 15% | 17% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Documents
Frequently Asked Questions about Indian Bank
What does Indian Bank do?
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What is the 52-week high and low of Indian Bank?
Does Indian Bank pay dividends?
What is the Return on Equity (ROE) of Indian Bank?
Company Information
Indian Bank is a medium-sized bank which was started in 1907. It offers deposits, loans and services. The Bank's segments include Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. [1]
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