IndusInd Bank Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 57.8% • Corporate/Wholesale Banking: 18.9% • Treasury: 18.2%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Comfortable capital adequacy - CAR of 17.5%
- Latest quarter profit grew 46.5% YoY, showing strong momentum
- Strong provisioning - provision coverage ratio of 71.0%
- Healthy net interest margin of 3.7%
- Institutional investors have been accumulating - FII+DII up 4.2pp
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (568.7% of PBT)
- Valuation is stretched - P/E of 60.9 is well above its own 5-year median (19.1)
- Company has delivered a poor profit growth of -19.9% over past five years
- Operating margins have contracted to 19.9% from 39.4%
- Growth is decelerating - 3Y profit CAGR (-49.8%) trails the 5Y trend (-19.9%)
- Though reporting repeated profits, the company pays out little dividend (12.5%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 708.00 | 13.81 | 1091323.88 | 2.19 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1379.15 | 17.65 | 989980.04 | 0.87 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 418.70 | 20.52 | 416508.36 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1247.50 | 13.98 | 388399.91 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 83.44 | 9.63 | 89718.04 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.40 | 18.18 | 85149.33 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1058.00 | 43.57 | 79454.72 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 977.80 | 57.61 | 76184.77 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.20 | 32.24 | 74319.14 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 23.47 | 19.52 | 73668.68 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 412.80 | 71.21 | 64022.78 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| KARURVYSYA | 333.85 | 11.76 | 32273.73 | 0.78 | 755.70 | 44.92 | 3049.42 | 18.72 | 23.62 | 71.82 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| Interest Expended | 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 |
| Net Interest Income | 4,867 | 5,077 | 5,296 | 5,376 | 5,408 | 5,347 | 5,228 | 3,048 | 4,640 | 4,409 | 4,562 | 4,371 | 4,685 |
| 2,210 | 2,282 | 2,396 | 2,500 | 2,441 | 2,184 | 2,350 | 709 | 2,156 | 1,648 | 1,707 | 1,706 | 1,785 | |
| Total Income | 0 | 0 | 0 | 0 | 14,988 | 14,871 | 15,156 | 11,343 | 14,421 | 13,260 | 13,080 | 12,719 | 13,095 |
| Operating Expenses | 3,247 | 3,478 | 3,689 | 3,850 | 3,922 | 3,939 | 3,979 | 4,230 | 4,144 | 4,029 | 3,961 | 3,863 | 3,787 |
| Operating Profit | 3,830 | 3,881 | 4,002 | 4,027 | 3,927 | 3,592 | 3,599 | -473 | 2,652 | 2,028 | 2,307 | 2,215 | 2,683 |
| Provisions & Contingencies | 992 | 974 | 934 | 899 | 1,050 | 1,820 | 1,744 | 2,417 | 1,738 | 2,622 | 2,089 | 1,484 | 1,340 |
| Profit before Tax | 2,838 | 2,907 | 3,068 | 3,128 | 2,877 | 1,772 | 1,855 | -2,889 | 914 | -594 | 218 | 731 | 1,343 |
| Tax % | 25.18% | 24.96% | 25.10% | 24.97% | 25.19% | 25.19% | 24.47% | 22.61% | 25.17% | 25.17% | 26.13% | 27.12% | 25.37% |
| Net Profit | 2,124 | 2,181 | 2,298 | 2,347 | 2,152 | 1,325 | 1,401 | -2,236 | 684 | -445 | 161 | 533 | 1,002 |
| EPS | 27 | 28 | 30 | 30 | 28 | 17 | 18 | -29 | 9 | -6 | 2 | 7 | 1 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45,748 | 48,668 | 46,251 | — | |
| Interest Expended | 8,343 | 9,783 | 13,415 | 16,724 | 15,472 | 15,822 | 18,776 | 25,132 | 29,636 | 28,268 | 27,270 |
| Net Interest Income | -8,343 | -9,783 | -13,415 | -16,724 | -15,472 | -15,822 | -18,776 | 20,616 | 19,031 | 17,982 | — |
| 4,171 | 4,750 | 5,647 | 6,951 | 6,559 | 7,334 | 8,166 | 9,388 | 7,684 | 7,217 | 6,846 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55,136 | 56,352 | 53,468 | 52,154 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14,263 | 16,071 | 15,997 | — | |
| Operating Profit | -8,343 | -9,783 | -13,415 | -16,724 | -15,472 | -15,822 | -18,776 | 15,740 | 10,645 | 9,202 | — |
| 746 | 1,022 | 2,892 | 4,110 | 5,669 | 4,450 | 4,186 | 3,799 | 7,030 | 7,933 | — | |
| Profit before Tax | 4,360 | 5,481 | 4,981 | 6,121 | 3,784 | 6,174 | 9,860 | 11,942 | 3,615 | 1,269 | 1,698 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 25.05% | 26.89% | 26.46% | 26.29% |
| Net Profit | 2,868 | 3,606 | 3,301 | 4,418 | 2,836 | 4,611 | 7,390 | 8,950 | 2,643 | 933 | 1,252 |
| EPS | 48 | 60 | 54 | 64 | 39 | 59 | 95 | 115 | 34 | 12 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 10%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -9%
- 5 Years:
- -20%
- 3 Years:
- -50%
STOCK PRICE CAGR
- 10 Years:
- -2%
- 5 Years:
- 0%
- 3 Years:
- -12%
- 1 Year:
- 31%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 9%
- 3 Years:
- 7%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 598 | 600 | 603 | 694 | 773 | 775 | 776 | 778 | 779 | 779 |
| 20,033 | 23,227 | 26,072 | 33,330 | 42,587 | 46,906 | 53,801 | 61,915 | 63,571 | 64,510 | |
| 1,26,572 | 1,51,639 | 1,94,868 | 2,02,040 | 2,56,205 | 2,93,681 | 3,36,438 | 3,84,793 | 4,11,078 | 4,00,174 | |
| 22,454 | 38,289 | 47,321 | 60,754 | 51,323 | 47,323 | 49,011 | 47,611 | 53,704 | 42,789 | |
| Other Liabilities & Provisions | 8,976 | 7,856 | 8,944 | 9,558 | 12,080 | 13,273 | 17,733 | 19,734 | 24,744 | 35,016 |
| Total Liabilities | 1,78,648 | 2,21,626 | 2,77,819 | 3,07,058 | 3,62,973 | 4,01,975 | 4,57,804 | 51 | 5,54,018 | 5,43,419 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 7,749 | 10,962 | 9,961 | 13,675 | 17,871 | 60,141 | 42,961 | 18,557 | 50,889 | 29,875 | |
| Balances with Banks & Money at Call | 10,880 | 2,253 | 4,822 | 2,328 | 38,457 | 8,133 | 13,550 | 18,244 | 8,276 | 18,914 |
| 36,702 | 50,077 | 59,266 | 59,980 | 69,695 | 70,971 | 83,116 | 1,06,527 | 1,14,497 | 1,25,047 | |
| 1,13,081 | 1,44,954 | 1,86,394 | 2,06,783 | 2,12,595 | 2,39,052 | 2,89,924 | 3,43,298 | 3,45,019 | 3,15,871 | |
| 1,307 | 1,313 | 1,688 | 1,742 | 1,734 | 1,754 | 1,857 | 2,001 | 2,168 | 2,312 | |
| 8,902 | 12,041 | 15,666 | 22,471 | 22,546 | 21,829 | 26,260 | 26,111 | 32,981 | 51,273 | |
| Total Assets | 1,78,648 | 2,21,626 | 2,77,819 | 3,07,058 | 3,62,973 | 4,01,975 | 4,57,804 | 51 | 5,54,018 | 5,43,419 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11,569 | -20,700 | -6,389 | -12,039 | 44,646 | 16,600 | -12,438 | -16,843 | 18,113 | 1,045 | |
| Cash from Investing | -274 | -220 | -638 | -400 | -233 | -362 | -520 | -633 | -647 | -619 |
| Cash from Financing | -2,768 | 15,505 | 8,590 | 12,733 | -4,096 | -4,302 | 1,115 | -2,242 | 4,876 | -10,912 |
| 8,527 | -5,415 | 1,563 | 294 | 40,317 | 11,936 | -11,843 | -19,718 | 22,341 | -10,486 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 47.95 | 60.08 | 54.77 | 63.70 | 36.68 | 59.52 | 95.24 | 114.99 | 33.92 | 11.98 |
| Book Value (₹) | 338.65 | 390.94 | 437.20 | 485.97 | 556.61 | 611.54 | 699.52 | 801.70 | 822.28 | 834.52 |
| Dividend per Share (₹) | 6.00 | 7.50 | 7.50 | 0.00 | 5.00 | 8.50 | 14.00 | 16.50 | 0.00 | 1.50 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.24% | 3.67% | 3.67% |
| ROA % | 1.78% | 1.80% | 1.32% | 1.51% | 0.85% | 1.21% | 1.72% | 1.84% | 0.49% | 0.17% |
| ROE % | 15.27% | 16.50% | 13.25% | 14.71% | 7.39% | 10.20% | 14.54% | 15.34% | 4.18% | 1.45% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 47.54% | 60.15% | 63.48% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.27% | 0.00% | 0.00% | 3.13% | 3.43% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.64% | 0.00% | 0.00% | 0.95% | 1.00% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 72.00% | 0.00% | 0.00% | 0.00% | 70.00% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 37.91% | 32.84% | 31.28% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.13% | 0.11% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 17.23% | 16.24% | 17.48% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | 25.43% | 25.74% | -8.46% | 33.83% | -35.80% | 62.57% | 60.26% | 21.11% | -70.47% | -64.68% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 14.61% | 2.57% | 1.49% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 13.53x | 19.15x | 62.84x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.94x | 0.79x | 0.90x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.06% | 0.00% | 0.20% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - IndusInd Bank Limited has informed the Exchange about General Updates regarding disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-11 - IndusInd Bank Limited has informed the Exchange regarding a press release dated September 11, 2026, titled "IndusInd Bank Launches Overdraft and Cash Credit Linked Corporate Credit Card for Businesses".
2026-09-10 - Indusind Bank Limited has informed the Exchange regarding Exercise of 4160 Options.
2026-09-10 - IndusInd Bank Limited has informed the Exchange about Schedule of Analysts/Institutional investors meet to be held on September 17, 2026
2026-09-10 - IndusInd Bank Limited has informed the Exchange about outcome of Schedule of Analysts/Institutional investors meet
2026-09-10 - IndusInd Bank Limited has informed the Exchange regarding a press release dated September 10, 2026, titled "Navi UPI and IndusInd Bank partner to strengthen infrastructure behind everyday digital payments".
2026-09-09 - Indusind Bank Limited has informed the Exchange about ESG Rating by Crisil ESG Ratings & Analytics Limited
2026-09-09 - IndusInd Bank Limited has informed the Exchange regarding ESG rating by ESG Risk Assessments and Insights Limited
2026-09-03 - IndusInd Bank Limited has informed the Exchange about Schedule of analysts/Institutional investors meet to be held on September 10, 2026.
News
Recent coverage and analyst commentary for INDUSINDBK
Loading news…
AI Stock Analyst
IndusInd Bank Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account

