IndusInd Bank Ltd
IndusInd Bank Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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59 extracted metrics + investor summaries across FY08–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Weaknesses
7- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 9.79% over past five years.
- Promoter holding is low: 15.8%
- Company has a low return on equity of 6.60% over last 3 years.
- Contingent liabilities of Rs.12,08,438 Cr.
- Promoters have pledged 42.8% of their holding.
- Dividend payout has been low at 9.15% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoIndusInd Bank trades at a market cap of Rs.80,671 Cr with a P/E of 60.2x and P/B of 1.22x, reflecting a bank undergoing significant earnings pressure with last-year ROE at just 1% and TTM sales declining 6%, though TTM profit growth of 31% suggests some recovery from a low base.
- P/B ratio of 1.22x is significantly below historical averages for mid-large private banks, offering potential valuation re-rating if fundamentals stabilize
- TTM profit growth of 31% indicates earnings recovery momentum from a depressed base
- 10-year compounded sales growth of 15% demonstrates the bank's long-term revenue generation capability and franchise strength
- Stock CAGR of 24% over 1 year shows renewed investor confidence and potential trend reversal after years of underperformance
- 5-year compounded sales growth of 10% indicates the underlying business continues to grow at a reasonable pace despite recent challenges
- 10-year average ROE of 10% suggests the bank has historically generated adequate returns and could mean-revert from current depressed levels
- Market cap of Rs.80,671 Cr for an established private sector bank with diversified lending operations represents a significantly compressed valuation versus peers
- Last-year ROE collapsed to just 1%, a sharp deterioration from the 3-year average of 7% and 5-year average of 9%, signaling severe profitability stress
- Contingent liabilities of Rs.14,36,530 Cr are extraordinarily large relative to the bank's market cap of Rs.80,671 Cr, posing material tail risk
- Promoter holding is low at 15.8% with 42.8% of that holding pledged, raising governance and forced-selling risks
- 3-year compounded profit CAGR of -51% and 5-year of -21% reflect a prolonged and deep earnings decline, not a one-off event
- P/E of 60.2x is elevated for a bank with deteriorating return ratios, suggesting current earnings are deeply suppressed and recovery is not guaranteed
- Working capital days increased from 197 to 277 days, indicating deteriorating asset quality or operational efficiency
- TTM sales growth of -6% shows the top line is now contracting, unusual for a growing private bank in India's expanding credit market
- Dividend payout of just 9.15% of profits over last 3 years and current yield of 0.15% offer minimal income return to shareholders
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago- Weak FY26 profitability Aug 5
IndusInd Bank reported FY2025-26 standalone PAT of just ₹933.33 crore and consolidated PAT of ₹889.34 crore, signaling earnings pressure despite total deposits of ₹4,00,174 crore and CRAR of 17.48%.
- RBI approves two Executive Directors Aug 4
RBI granted approval to appoint Ganesh Sankaran and Jagdeep Mallareddy as Executive Directors for three-year terms effective August 4, 2026, strengthening senior leadership.
- EPFO integration for PF payments Jul 13
IndusInd Bank integrated with EPFO to enable seamless Provident Fund contributions via Corporate Internet Banking and Indie for Business platforms, expanding its transaction banking suite.
- Management signals strong growth outlook Jul 23
Management conveyed confident growth expectations in a CNBC interview, complemented by plans to expand workforce and invest in AI capabilities this year.
- RuPay credit card with EazyDiner Aug 7
Launched a lifetime-free RuPay credit card with EazyDiner offering ₹21,495 in annual savings including ₹18,000 in dining discounts and UPI integration.
- 32nd AGM on August 27 Aug 6
AGM scheduled for August 27, 2026, with remote e-voting via NSDL from August 24-26. Analyst meet at Emkay Confluence on August 12.
- BRSR FY26 ESG report released Aug 5
Published Business Responsibility and Sustainability Report for FY2025-26, highlighting carbon neutrality target by FY2032 and employee diversity metrics.
- Mini Ipe appointed independent director Aug 3
Ex-LIC MD Mini Ipe appointed as Non-Executive Independent Director for four years, subject to shareholder approval.
- ₹21.35cr block trade on BSE Jul 20
Approximately 2,08,604 shares traded in a block deal at ₹1,023.50 per share, valued at ₹21.35 crore, likely by institutional participants.
- Auditor re-appointment approved by RBI Jul 17
RBI approved re-appointment of Chokshi & Chokshi LLP and Borkar & Muzumdar as Joint Statutory Auditors for FY 2026-27.
TL;DR: IndusInd Bank is strengthening governance with RBI-approved leadership appointments and board refreshment, while investing in digital capabilities (EPFO integration, AI, new card products). The key risk is subdued FY26 profitability with PAT of just ₹933 crore, well below historical levels for a bank of its size. Management's bullish commentary and workforce expansion plans suggest confidence in a recovery, but earnings execution in coming quarters will be critical to validate the optimism.
Quarterly Results
| 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 | 10,730 | 11,248 | 11,572 | 12,199 | 12,547 | 12,686 | 12,801 | 10,634 | 12,264 | 11,609 | 11,373 | 11,005 | 11,310 |
| Expenses | 4,237 | 4,424 | 4,618 | 4,753 | 4,947 | 5,752 | 5,726 | 6,770 | 5,989 | 6,644 | 6,095 | 5,272 | 5,082 |
| Financing Profit | 630 | 653 | 677 | 623 | 460 | -405 | -498 | -3,722 | -1,350 | -2,235 | -1,533 | -901 | -397 |
| Fin. Margin % | 6% | 6% | 6% | 5% | 4% | -3% | -4% | -35% | -11% | -19% | -13% | -8% | -4% |
| Other Income | 2,210 | 2,282 | 2,396 | 2,508 | 2,442 | 2,185 | 2,355 | 709 | 2,157 | 1,651 | 1,707 | 1,714 | 1,787 |
| Interest | 5,863 | 6,171 | 6,277 | 6,822 | 7,139 | 7,339 | 7,573 | 7,586 | 7,624 | 7,199 | 6,811 | 6,634 | 6,625 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 2,840 | 2,935 | 3,073 | 3,131 | 2,902 | 1,780 | 1,857 | -3,013 | 807 | -584 | 174 | 813 | 1,389 |
| Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 24% | -23% | 25% | -25% | 26% | 27% | 25% |
| Net Profit | 2,124 | 2,202 | 2,301 | 2,349 | 2,171 | 1,331 | 1,402 | -2,329 | 604 | -437 | 128 | 594 | 1,037 |
| EPS in Rs | 27.38 | 28.34 | 29.59 | 30.18 | 27.88 | 17.09 | 18 | -29.89 | 7.75 | -5.61 | 1.64 | 7.63 | 13.31 |
| Gross NPA % | 1.94% | 1.93% | 1.92% | 1.92% | 2.02% | 2.11% | 2.25% | 3.13% | 3.64% | 3.6% | 3.56% | 3.43% | 3.25% |
| Net NPA % | 0.58% | 0.57% | 0.57% | 0.57% | 0.6% | 0.64% | 0.68% | 0.95% | 1.12% | 1.04% | 1.04% | 1% | 0.95% |
Profit & Loss
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11,872 | 14,406 | 17,281 | 22,261 | 28,783 | 29,000 | 30,822 | 36,368 | 45,748 | 48,668 | 46,251 | 45,297 |
| Expenses | 4,188 | 5,684 | 6,555 | 9,284 | 12,544 | 15,772 | 15,561 | 15,425 | 17,569 | 22,664 | 23,437 | 23,094 |
| Financing Profit | 329 | 379 | 942 | -438 | -485 | -2,244 | -560 | 2,167 | 3,046 | -3,632 | -5,455 | -5,066 |
| Fin. Margin % | 3% | 3% | 5% | -2% | -2% | -8% | -2% | 6% | 7% | -7% | -12% | -11% |
| Other Income | 3,297 | 4,171 | 4,750 | 5,647 | 6,953 | 6,501 | 7,345 | 8,173 | 9,396 | 7,690 | 7,229 | 6,859 |
| Interest | 7,355 | 8,343 | 9,783 | 13,415 | 16,724 | 15,472 | 15,822 | 18,776 | 25,132 | 29,636 | 28,268 | 27,270 |
| Depreciation | 157 | 191 | 212 | 229 | 291 | 328 | 352 | 407 | 463 | 532 | 564 | 0 |
| PBT | 3,469 | 4,360 | 5,481 | 4,980 | 6,177 | 3,929 | 6,433 | 9,932 | 11,979 | 3,526 | 1,210 | 1,792 |
| Tax % | 34% | 34% | 34% | 34% | 28% | 25% | 25% | 25% | 25% | 27% | 27% | — |
| Net Profit | 2,287 | 2,868 | 3,606 | 3,301 | 4,458 | 2,930 | 4,805 | 7,444 | 8,977 | 2,576 | 889 | 1,322 |
| EPS in Rs | 38.43 | 47.95 | 60.08 | 54.77 | 64.28 | 37.89 | 62.03 | 95.93 | 115 | 33.06 | 11.41 | 16.97 |
| Div. Payout % | 12% | 13% | 12% | 14% | 0% | 13% | 14% | 15% | 14% | 0% | 13% | — |
Balance Sheet
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 595 | 598 | 600 | 603 | 694 | 773 | 775 | 776 | 778 | 779 | 779 |
| Reserves | 17,102 | 20,049 | 23,243 | 26,085 | 34,054 | 42,727 | 47,252 | 54,229 | 62,429 | 64,057 | 64,961 |
| Borrowing | 24,996 | 21,454 | 38,289 | 47,321 | 60,754 | 51,323 | 47,323 | 49,011 | 47,611 | 53,704 | 42,789 |
| Deposits | 93,000 | 1,27,572 | 1,51,639 | 1,94,868 | 2,02,027 | 2,55,870 | 2,93,349 | 3,36,120 | 3,84,586 | 4,10,862 | 3,99,931 |
| Other Liabilities | 7,205 | 8,976 | 7,856 | 8,944 | 9,700 | 12,210 | 13,268 | 17,701 | 19,689 | 24,706 | 34,934 |
| Total Liabilities | 1,42,898 | 1,78,650 | 2,21,628 | 2,77,821 | 3,07,229 | 3,62,903 | 4,01,967 | 4,57,837 | 5,15,094 | 5,54,107 | 5,43,394 |
| Fixed Assets | 1,218 | 1,307 | 1,313 | 1,688 | 1,792 | 1,801 | 1,834 | 1,944 | 2,127 | 2,309 | 2,420 |
| CWIP | 37 | 28 | 25 | 22 | 79 | 75 | 95 | 135 | 197 | 188 | 126 |
| Investments | 34,056 | 36,704 | 50,078 | 59,268 | 59,938 | 69,653 | 70,930 | 83,076 | 1,06,486 | 1,14,457 | 1,25,007 |
| Other Assets | 1,07,587 | 1,40,611 | 1,70,211 | 2,16,843 | 2,45,419 | 2,91,374 | 3,29,109 | 3,72,682 | 4,06,283 | 4,37,154 | 4,15,841 |
| Total Assets | 1,42,898 | 1,78,650 | 2,21,628 | 2,77,821 | 3,07,229 | 3,62,903 | 4,01,967 | 4,57,837 | 5,15,094 | 5,54,107 | 5,43,394 |
Cash Flow
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -2,927 | 11,569 | -20,700 | -6,389 | -12,907 | 44,976 | 16,672 | -12,442 | -16,925 | 18,278 | 993 |
| Investing | -258 | -285 | -217 | -633 | 1,445 | -324 | -395 | -481 | -703 | -685 | -634 |
| Financing | 2,517 | -2,768 | 15,505 | 8,590 | 12,733 | -4,096 | -4,302 | 1,115 | -2,242 | 4,876 | -10,912 |
| Net Cash Flow | -667 | 8,516 | -5,412 | 1,568 | 1,271 | 40,556 | 11,975 | -11,808 | -19,869 | 22,468 | -10,553 |
| Free Cash Flow | -3,184 | 11,296 | -20,920 | -7,027 | -13,324 | 44,645 | 16,266 | -13,002 | -17,636 | 17,569 | 359 |
| CFO/OP | -21 | 154 | -175 | -31 | -66 | 346 | 124 | -54 | -49 | 82 | 5 |
Ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 13% | 15% | 16% | 13% | 15% | 7% | 10% | 14% | 15% | 4% | 1% |
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Company Information
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]