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Indian Bank

INDIANB NSE

Key Fundamentals

LargecapPublic Sector BankBanks
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
8.99
EBITDA
₹17,084 Cr
Return on Equity
15.27%
Debt to Equity
0
Book Value
₹570.44
EPS
₹67.86
52W High
₹1,000.9
52W Low
₹670.3

Tapetide Score

Data-driven rating, 0–100. How it works →

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

Revenue Growth
8.72% lower than 3Y
Net Income Growth
11.21% lower than 3Y
Cash Flow Change
8.16% lower than 3Y
ROE
-0.65% lower than 3Y
ROCE
-2.38% lower than 3Y
EBITDA Margin (Avg.)
1.48% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Indian Bank trades at a market cap of ₹1,13,374 Cr with a PE of 9.1x and PB of 1.51x, reflecting a valuation broadly in line with mid-tier PSU banks. The bank has delivered strong profit CAGR of 30% over 5 years but revenue growth has been modest at 12% over the same period, pointing to margin-led rather than topline-driven earnings expansion.

Bull Case 8
  • Strong profit compounding at 30% CAGR over 5 years and 28% CAGR over 3 years indicates sustained earnings improvement
  • PE of 9.1x is undemanding relative to the broader banking sector, leaving room for re-rating if growth sustains
  • ROE has been healthy at 15% last year and averaged 16% over 3 years, indicating reasonable return on shareholder equity for a PSU bank
  • Dividend yield of 2.13% with a consistent payout ratio of 19.9% provides regular income to shareholders
  • Stock CAGR of 47% over 5 years and 31% over 3 years reflects strong market re-rating of the franchise
  • TTM profit growth of 11% demonstrates continued earnings momentum even on a higher base after years of strong compounding
  • 10-year compounded profit growth of 32% shows a long runway of earnings recovery and expansion from earlier stressed-asset cycle lows
  • PB of 1.51x is moderate for a bank with 15-16% ROE, suggesting the valuation is not stretched on a book-value basis
Bear Case 8
  • Compounded sales growth of only 12% over 5 years and 11.5% recently signals weak loan book or interest income expansion
  • Contingent liabilities of ₹2,66,319 Cr are substantial relative to the ₹1,13,374 Cr market cap, posing a tail risk if even a fraction crystallizes
  • Low interest coverage ratio suggests the bank's earnings buffer over its own funding costs is thin, raising vulnerability in a rising-rate or stress scenario
  • Potential capitalization of interest cost could mean reported asset quality and earnings are somewhat overstated
  • TTM sales growth has decelerated to 10% from the 3-year CAGR of 14%, indicating a slowing topline trajectory
  • ROE has dipped from 16% (3-year average) to 15% last year, hinting at possible margin compression or higher equity dilution
  • As a PSU bank, Indian Bank remains subject to government-directed lending mandates and potential capital calls that can dilute minority shareholders
  • Stock CAGR of 23% over 1 year has moderated sharply from the 31% 3-year and 47% 5-year rates, suggesting the easy re-rating phase may be behind

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 3
  • Union strike notices Sep-Oct Sep 9

    United Forum of Bank Unions issued strike notices for September and October 2026, potentially affecting branch operations.

  • Agriculture NPA concentration risk Aug 30

    Agriculture contributes 47.2% of total NPAs despite being only 23.4% of advances, with a 6.35% NPA ratio vs 0.68% for non-priority sectors.

  • Gold loan growth slowdown Aug 28

    Gold loan growth expected to moderate to ~20% in FY27 from 30% last year due to a 30% decline in gold prices, though portfolio at ₹1.25 lakh crore remains large.

Positives 8
  • Q1FY27 profit up 10% YoY Aug 19

    Net profit rose 10% YoY to ₹3,273 crore in Q1FY27, driven by 17% NII growth and stable asset quality with GNPA at 1.86%.

  • $400M ECB raised via GIFT City Aug 16

    Completed $400M overseas fundraising at competitive rates through GIFT City branch for a four-year tenor, with plans for $1B in ECBs and $2B via FCNR(B) deposits.

  • Life insurance, MF entry on track Sep 13

    MD Binod Kumar confirmed plans to enter life insurance and asset management segments are progressing, with board approval being sought and partner identification expected within one year.

  • Dubai office and global expansion Sep 6

    Board approved representative office in Dubai targeting 33% Indian working population, with Malaysia and Indonesia also being evaluated for expansion.

  • 100 new branches, 2,500 hires Aug 28

    Adding 100 branches focused on Central and Western India and 2,500 personnel in FY27, with 6,003 domestic branches currently. Targeting treasury income of ₹1,000-1,500 crore.

  • Strong asset quality improvement Aug 30

    GNPA declined 115 bps YoY to 1.86% with target of 1.50-1.60% by FY27-end. Net NPA at 0.15%, provision coverage ratio at 98.28%, and SMA ratio down from 15.59% to 4.73%.

  • ₹1,125 crore MSME credit campaign Aug 23

    Mega credit campaign mobilised ₹2,080 crore in proposals, sanctioned ₹1,125 crore, and disbursed ₹575 crore across retail, agri, and MSME segments in Chennai.

  • Digital transformation accelerating Sep 10

    Launched AI-TARA voice banking in 10 languages, Smart Wealth portfolio tool, and IND Cash Optima for corporates. Digital transactions now 95% of total, up from 93% YoY.

Neutral 3
  • NSE stake OFS ahead of IPO Sep 9

    Divesting 15 lakh NSE shares (17.91% of holding) via OFS by end-Sep 2026 as part of NSE's proposed IPO, with NSE IPO price band expected at ₹1,700-1,785 per share.

  • RBI fine of ₹1.88 lakh Sep 1

    Penalized ₹1,88,600 by RBI for soiled note remittance irregularities at Satna Currency Chest; bank confirmed no material impact on profitability.

  • Investor meets with global banks Aug 20

    Held virtual interactions with CTBC Bank, Commerzbank, and Millennium in August 2026, sharing only public domain information per SEBI regulations.

TL;DR: Indian Bank is executing well across multiple fronts — Q1FY27 profit grew 10% to ₹3,273 crore, asset quality improved sharply with GNPA at 1.86% (targeting 1.50-1.60%), and the bank successfully raised $400M internationally. Strategic initiatives including life insurance/MF entry, Dubai expansion, and aggressive digital transformation signal a growth-oriented management. Key risks are concentrated agriculture NPAs and potential union strike disruptions, though both appear manageable given the strong provision coverage of 98.28% and improving SMA trends. The overall trajectory is clearly positive, with the bank well-positioned to pursue its ₹25 lakh crore business target by December 2029.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
7%
5%
9%
7%
2%
4%
10%
10%
12%
15%
17%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others0.89%Promot.73.84%Public2.08%FIIs6.16%DIIs17.03%As ofJun 2026

Documents

Frequently Asked Questions about Indian Bank

What does Indian Bank do?
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]
Where is Indian Bank (INDIANB) listed?
Indian Bank trades as INDIANB on the NSE and under code 532814 on the BSE.
Which sector does Indian Bank belong to?
Indian Bank is classified under the Banks sector, in the Public Sector Bank industry.
What is the market capitalisation of Indian Bank?
Indian Bank has a market capitalisation of ₹1,13,374 Cr, which places it in the Large Cap band.
What is the PE ratio of Indian Bank?
Indian Bank trades at a PE ratio of 8.99, on earnings per share of ₹67.86, against a book value of ₹570.44 per share.
What is the 52-week high and low of Indian Bank?
Over the last 52 weeks Indian Bank has traded between ₹670.3 and ₹1,000.9.
Does Indian Bank pay dividends?
Indian Bank has a dividend yield of 2.13%.
What is the Return on Equity (ROE) of Indian Bank?
Indian Bank reported a return on equity of 15.27%. Its debt-to-equity ratio is 0.00.

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]

Website indianbank.in
CEO Mr. Binod Kumar
Employees 40,071
Listed 2007-03-01
Face Value ₹ 10
Issued Size 1,34,69,63,981

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