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Indusind Bank

INDUSINDBK NSE
₹865.15 +8.40 (+0.98%)
P/E
50.98
View as Markdown
MCP
Close 4 Nov 2026 ₹865.15 +78.95 +10.0% 1Y
Start ₹786.20

Key Fundamentals

MidcapBanksFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

EPS (TTM)
₹16.97
Book Value
₹866.51
Market Cap
—
P/E (TTM)
50.98
P/B
1.00
ROE
1.36%
Dividend Yield
0.18%
52W High
₹1,077.85
52W Low
₹750.50
Day Range
₹845.60 – ₹865.15
Volume
13,76,537
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
Debt to Equity
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Banks › Private Bank › Private Sector Bank

Indusind Bank peer comparison
HDFC Bank
₹736.7014.16₹11,37,598 Cr1.882.48%13.60%—₹3,59,956 Cr₹83,685 Cr
ICICI Bank
₹1,424.1017.28₹10,25,874 Cr2.670.84%15.90%—₹2,06,190 Cr₹62,827 Cr
Kotak Bank
₹459.4021.29₹4,58,686 Cr2.350.14%11.40%—₹73,545 Cr₹21,472 Cr
Axis Bank
₹1,232.0012.79₹3,83,779 Cr1.670.08%13.10%—₹1,41,510 Cr₹30,038 Cr
IDBI Bank
₹79.2910.26₹83,815 Cr1.322.70%14.10%—₹30,953 Cr₹8,329 Cr
Federal Bank
₹335.2015.94₹81,875 Cr2.010.36%11.60%—₹31,552 Cr₹5,387 Cr
Indusind Bank (this company)
₹865.1550.98₹66,694 Cr1.000.18%1.36%—₹45,297 Cr₹1,322 Cr
Median 7 companies₹736.7015.94₹3,83,779 Cr1.880.36%13.10%—₹73,545 Cr₹21,472 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

31 Poor

Data confidence 100/100

pledge:33%

Category scores

Quality
38
Weak
Returns, margins, earnings quality 22% weight
Valuation
28
Poor
Cheap vs sector & own history 24% weight
Growth
8
Poor
Sales & profit trajectory 9% weight
Financial Health
7
Poor
Solvency, leverage, coverage 9% weight
Momentum
27
Poor
Trend strength, vol-adjusted 12% weight
Ownership
53
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 1.02 times its book value

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

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
47.01
Neutral
MACD (12,26,9)
−18.68
Bullish
SMA (50)
921.14
Bearish
SMA (200)
922.53
Bearish

As of

Analyst Rating

Based on 36 analysts
BUY42%

15 of 36 analysts rate Buy, 13 Hold, 8 Sell.

As of

BUY
15
42%
HOLD
13
36%
SELL
8
22%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+14.57%
5Y+9.79%
3Y+8.34%
1Y−4.97%
TTM−6.38%

Net profit

Net profit growth by window
10Y−9.02%
5Y−21.22%
3Y−50.75%
1Y−65.49%
TTM+31.15%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹14,406 Cr
Mar 2018₹17,281 Cr
Mar 2019₹22,261 Cr
Mar 2020₹28,783 Cr
Mar 2021₹29,000 Cr
Mar 2022₹30,822 Cr
Mar 2023₹36,368 Cr
Mar 2024₹45,748 Cr
Mar 2025₹48,668 Cr
Mar 2026₹46,251 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹2,868 Cr
Mar 2018₹3,606 Cr
Mar 2019₹3,301 Cr
Mar 2020₹4,458 Cr
Mar 2021₹2,930 Cr
Mar 2022₹4,805 Cr
Mar 2023₹7,444 Cr
Mar 2024₹8,977 Cr
Mar 2025₹2,576 Cr
Mar 2026₹889 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹57.23 +401.2% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

IndusInd Bank trades at a price-to-book ratio of 0.97 as of 2026-10-30, with a market capitalisation of ₹66,511 Cr and a trailing twelve-month PE of 49.38. The bank's long-term profit growth has been negative over 3-, 5-, and 10-year horizons, though TTM profit growth has turned positive at 31%, while ROE stands at a subdued 1.35% and promoter holding remains low at 15.8% with 42.8% of that holding pledged.

Bull Case 7
  • The stock trades at 0.97x book value, below the 1x threshold, which historically signals depressed valuations for a private-sector bank of this scale
  • TTM profit growth has turned sharply positive at 31%, suggesting a potential earnings recovery after multi-year declines
  • Compounded sales growth over 10 years stands at 15%, indicating the bank has demonstrated an ability to grow its revenue base over longer cycles
  • The stock is 22.2% below its 52-week high of ₹1,077.85, offering a significant discount to its recent peak
  • 5-year compounded sales growth of 10% shows the bank maintained double-digit revenue expansion even through challenging periods
  • At a market cap of ₹66,511 Cr, the bank retains meaningful scale in Indian private banking, which supports franchise value
  • The 1-year stock CAGR of 14% indicates improving market sentiment and a reversal from the negative 3-year (-16%) and 5-year (-6%) stock CAGRs
Bear Case 8
  • Promoter holding is critically low at 15.8%, and 42.8% of that holding is pledged, raising governance and forced-selling risk
  • Contingent liabilities stand at a massive ₹12,08,438 Cr, representing a significant overhang relative to the ₹66,511 Cr market cap
  • ROE is deeply depressed at 1.35% currently and averaged only 7% over 3 years and 1% last year, well below the cost of equity for a bank
  • Compounded profit growth is negative across all medium- and long-term horizons: -51% over 3 years, -21% over 5 years, and -9% over 10 years
  • The trailing PE of 49.38 is elevated for a bank with sub-2% ROE, implying the market is pricing in a recovery that is not yet reflected in fundamentals
  • TTM sales growth is negative at -6%, indicating the top line has actually contracted in the most recent period
  • Dividend payout has been low at 9.15% of profits over the last 3 years, with a current dividend yield of just 0.17%, offering minimal income support
  • The company has a low interest coverage ratio, which for a bank signals potential stress in core lending profitability

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

AI News Digest

9h ago

TL;DR: IndusInd Bank delivered a decisive Q2 FY27 turnaround with profit swinging to ₹1,242 crore from a year-ago loss, driven primarily by a 54% YoY drop in provisions and sharply improving asset quality (GNPA at 2.73% vs 3.60% YoY). Core lending income growth remains modest at 4% YoY, and NIM compression to 3.23% from FCNR(B) deposits and a declining CASA ratio are near-term headwinds. The trend is improving — micro loans are growing again after 8 quarters, vehicle finance crossed ₹1 trillion, and RoA is tracking toward the 1% FY27 exit target — but margin recovery and sustainable deposit mobilization in H2 FY27 will determine whether this turnaround has lasting legs.

Headwinds 5
  • NIM contracts 12 bps QoQ Oct 25

    Net interest margin fell to 3.23% from 3.35% (adjusted) in Q1, with 7-8 bps drag from FCNR(B) deposits and 4-5 bps from loan mix changes. NII declined 2% sequentially.

  • CASA ratio declining steadily Oct 25

    CASA ratio fell to 28% from 29.4% in Q1 and 30.7% a year ago, pushing funding costs higher as term deposits rose to 72% of the mix.

  • Loan growth outpacing deposits Oct 25

    Advances grew 11% QoQ while deposits grew only 3.4% sequentially, risking elevated credit-to-deposit ratio and funding pressure.

Positives 7
  • Q2 profit swings to ₹1,242 cr Oct 23

    Consolidated net profit was ₹1,242 crore vs a ₹437 crore loss in Q2 FY26, beating poll estimates of ₹1,066 crore. Operating profit surged 40% YoY to ₹2,875 crore.

  • Asset quality improves sharply Oct 23

    GNPA ratio fell to 2.73% from 3.25% QoQ and 3.60% YoY. Gross slippages declined to ₹1,460 crore from ₹2,537 crore YoY, with SMA-1 and SMA-2 at just 0.05%.

  • Provisions drop 54% YoY Oct 23

    Provisions fell 54% YoY and 12% QoQ to ₹1,223 crore, reducing credit costs to 1.40% from 1.74% in Q1, driving the bulk of the profit recovery.

Neutral 2
  • Stock fell 1.8% post results Oct 23

    Shares closed at ₹835 on the day results were announced, down 1.76%, despite the strong profit beat, though they gained over 2% on Oct 26.

  • Net worth at ₹65,985 crore Oct 23

    Bank's net worth rose to ₹65,985 crore from ₹62,524 crore YoY, with a customer base of 42 million as of quarter end.

Quarterly Results

₹ Cr
INDUSINDBK quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 (₹)
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

₹ Cr
INDUSINDBK profit and loss, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
2,575
889
1,322
EPS (₹)
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

₹ Cr
INDUSINDBK balance sheet, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
INDUSINDBK cash flow, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
−524
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
−10,443
Free Cash Flow
−3,184
11,296
−20,920
−7,027
−13,324
44,645
16,266
−13,002
−17,636
17,569
359

Ratios

INDUSINDBK financial ratios, annual
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
13%
15%
16%
13%
15%
7%
10%
14%
15%
4%
1%

Insights

Beta

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

Log in to view Indusind Bank insights

87 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 41.29%
  • FIIs 30.47%
  • Promoters 15.82%
  • Public 7.51%
  • Others 4.91%

32.71% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Indusind Bank

What does IndusInd Bank Ltd do?
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.
Where is IndusInd Bank Ltd (INDUSINDBK) listed?
IndusInd Bank Ltd trades as INDUSINDBK on the NSE and under code 532187 on the BSE.
Which sector does IndusInd Bank Ltd belong to?
IndusInd Bank Ltd is classified under the Banks sector, in the Private Bank industry.
What is the PE ratio of IndusInd Bank Ltd?
IndusInd Bank Ltd trades at a PE ratio of 50.98 as of 4 Nov 2026, on earnings per share of ₹16.97, against a book value of ₹866.51 per share.
What is the 52-week high and low of IndusInd Bank Ltd?
Over the last 52 weeks IndusInd Bank Ltd has traded between ₹750.5 and ₹1,077.85 as of 4 Nov 2026.
Does IndusInd Bank Ltd pay dividends?
IndusInd Bank Ltd has a dividend yield of 0.18%.
What is the Return on Equity (ROE) of IndusInd Bank Ltd?
IndusInd Bank Ltd reported a return on equity of 1.36%.

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.

Website indusind.com
CEO Mr. Viral Damania
Employees 44,974
Listed 28 Jan 1998
Face Value ₹10

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