Indbank Merchant Banking Services Ltd.
•₹ 32.412.69%
2026-08-21
PROS
- Company has delivered good profit growth of 32.3% CAGR over last 5 years
- Solid return on assets for a lender - ROA of 7.5%
- Asset quality is healthy - gross NPA of just 0.0%
- Company has delivered good sales growth of 25.0% CAGR over last 5 years
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Company has a low return on equity of 7.9% over last 3 years
- Thin net interest margin of 0.0%
- Operating margins have contracted to 45.4% from 49.9%
- Growth is decelerating - 3Y profit CAGR (6.7%) trails the 5Y trend (32.3%)
- Expensive relative to growth - PEG of 2.2
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | MCX | 3121.00 | 51.62 | 79582.95 | 0.26 | 413.44 | 103.47 | 702.00 | 88.10 | 28.14 | 70.40 |
| 2. | MOTILALOFS | 971.10 | 29.54 | 58491.61 | 0.62 | 1273.71 | 9.53 | 3425.76 | 25.49 | 12.68 | 57.49 |
| 3. | 360ONE | 1204.80 | 38.84 | 49022.01 | 1.00 | 330.53 | 16.11 | 1226.09 | 26.85 | 12.28 | 63.01 |
| 4. | NUVAMA | 1728.75 | 29.31 | 31742.54 | 1.62 | 305.64 | 15.83 | 1376.22 | 22.59 | 20.45 | 52.80 |
| 5. | ANGELONE | 289.50 | 25.63 | 26451.25 | 1.40 | 231.40 | 102.15 | 1429.69 | 25.35 | 14.87 | 33.92 |
| 6. | CHOICEIN | 810.40 | 75.96 | 18053.81 | 0.00 | 60.61 | 26.37 | 309.79 | 32.46 | 23.09 | 33.83 |
| 7. | IIFLCAPS | 333.00 | 18.39 | 10483.06 | 0.90 | 184.16 | 4.92 | 631.48 | 3.13 | 23.27 | 35.76 |
| 8. | SHAREINDIA | 175.30 | 10.55 | 3836.01 | 0.91 | 1244.11 | 1374.47 | 4480.93 | 1212.47 | 21.00 | 44.76 |
| 9. | ARSSBL | 497.70 | 24.18 | 3138.81 | 1.00 | 23.35 | 2.35 | 246.10 | 22.37 | 19.72 | 39.54 |
| 10. | MONARCH | 391.55 | 17.14 | 3105.32 | 0.26 | 45.18 | -0.15 | 90.89 | -7.25 | 33.26 | 66.00 |
| 11. | GEOJITFSL | 80.56 | 31.00 | 2248.61 | 1.86 | 19.83 | -30.83 | 160.40 | 7.46 | 9.35 | 20.55 |
| 12. | INDBANK | 31.55 | 0.00 | 140.01 | 0.00 | 2.38 | 10.98 | 6.90 | 3.98 | 13.44 | 45.76 |
Detailed Comparison with:
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 6 | 7 | 7 | 8 | 8 | 6 | 5 | 7 | 6 | 6 | 6 | 7 | |
| 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | 3 | 3 | 3 | 4 | 4 | 2 | 2 | 3 | 3 | 3 | 2 | 3 | |
| Tax % | 22.84% | 24.06% | 21.71% | 51.86% | 23.18% | 24.66% | 38.10% | 25.00% | 23.38% | 26.19% | 25.97% | 37.85% | 22.99% |
| Net Profit | 2 | 2 | 3 | 2 | 3 | 3 | 1 | 1 | 2 | 2 | 2 | 1 | 2 |
| 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 5
- 3
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 22.84%
- Net Profit
- 2
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 6
- 3
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 24.06%
- Net Profit
- 2
- 1
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 7
- 3
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 21.71%
- Net Profit
- 3
- 1
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 7
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 51.86%
- Net Profit
- 2
- 1
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 8
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 4
- Tax %
- 23.18%
- Net Profit
- 3
- 1
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 8
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 4
- Tax %
- 24.66%
- Net Profit
- 3
- 1
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 6
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 38.10%
- Net Profit
- 1
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 5
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 25.00%
- Net Profit
- 1
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 7
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 23.38%
- Net Profit
- 2
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 6
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 26.19%
- Net Profit
- 2
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 6
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 25.97%
- Net Profit
- 2
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 6
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 2
- Tax %
- 37.85%
- Net Profit
- 1
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 7
- 4
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 3
- Tax %
- 22.99%
- Net Profit
- 2
- 0
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 44
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 9 | 12 | 8 | 9 | 12 | 21 | 18 | 25 | 27 | 25 | |
| 7 | 10 | 9 | 9 | 12 | 13 | 14 | 12 | 13 | 15 | 15 | |
| Operating Profit | 4 | 7 | 6 | 4 | 5 | 7 | 10 | 6 | 12 | 12 | — |
| OPM % | 53 | 76 | 51 | 43 | 54 | 55 | 50 | 35 | 49 | 46 | — |
| Other Income | 3 | 8 | 3 | 4 | 8 | 7 | 4 | 0 | 0 | 0 | 0 |
| Interest | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | 6 | 4 | 2 | 3 | 5 | 9 | 5 | 12 | 11 | 10 | |
| Tax % | 12 | 5 | 44 | 2 | 29 | 17 | 19 | 46 | 31 | 26 | 27 |
| Net Profit | 3 | 5 | 2 | 2 | 2 | 4 | 7 | 3 | 8 | 8 | 7 |
| EPS | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 2 | 2 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | 1 | 0 | 0 | 1 | 2 | 1 | 2 | 2 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 1 | 1 | 0 | 0 | 1 | 2 | 1 | 2 | 2 | — |
Mar 2016
- 8
- 7
- Operating Profit
- 4
- OPM %
- 53
- Other Income
- 3
- Interest
- 0
- Depreciation
- 1
- 3
- Tax %
- 12
- Net Profit
- 3
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2017
- 9
- 10
- Operating Profit
- 7
- OPM %
- 76
- Other Income
- 8
- Interest
- 1
- Depreciation
- 1
- 6
- Tax %
- 5
- Net Profit
- 5
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 12
- 9
- Operating Profit
- 6
- OPM %
- 51
- Other Income
- 3
- Interest
- 2
- Depreciation
- 0
- 4
- Tax %
- 44
- Net Profit
- 2
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2019
- 8
- 9
- Operating Profit
- 4
- OPM %
- 43
- Other Income
- 4
- Interest
- 2
- Depreciation
- 0
- 2
- Tax %
- 2
- Net Profit
- 2
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2020
- 9
- 12
- Operating Profit
- 5
- OPM %
- 54
- Other Income
- 8
- Interest
- 2
- Depreciation
- 0
- 3
- Tax %
- 29
- Net Profit
- 2
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2021
- 12
- 13
- Operating Profit
- 7
- OPM %
- 55
- Other Income
- 7
- Interest
- 2
- Depreciation
- 0
- 5
- Tax %
- 17
- Net Profit
- 4
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2022
- 21
- 14
- Operating Profit
- 10
- OPM %
- 50
- Other Income
- 4
- Interest
- 2
- Depreciation
- 0
- 9
- Tax %
- 19
- Net Profit
- 7
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2023
- 18
- 12
- Operating Profit
- 6
- OPM %
- 35
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 5
- Tax %
- 46
- Net Profit
- 3
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 25
- 13
- Operating Profit
- 12
- OPM %
- 49
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 12
- Tax %
- 31
- Net Profit
- 8
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2025
- 27
- 15
- Operating Profit
- 12
- OPM %
- 46
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 11
- Tax %
- 26
- Net Profit
- 8
- EPS
- 2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
TTM
- 25
- 15
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 10
- Tax %
- 27
- Net Profit
- 7
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 25%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- 32%
- 3 Years:
- 7%
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 8%
- 3 Years:
- 1%
- 1 Year:
- -1%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 8%
- 3 Years:
- 8%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 | 44 |
| 5 | 10 | 12 | 14 | 16 | 20 | 27 | 30 | 39 | 47 | |
| 0 | 2 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| 4 | 5 | 6 | 6 | 10 | 17 | 20 | 21 | 24 | 28 | |
| Total Liabilities | 53 | 61 | 63 | 64 | 70 | 81 | 92 | 99 | 107 | 120 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 5 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | |
| 3 | 5 | 4 | 3 | 3 | 1 | 1 | 1 | 2 | 2 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 6 | |
| Cash & Bank | 22 | 21 | 19 | 34 | 35 | 37 | 66 | 70 | 63 | 82 |
| 24 | 34 | 39 | 26 | 32 | 43 | 24 | 27 | 36 | 30 | |
| Total Assets | 53 | 61 | 63 | 64 | 70 | 81 | 92 | 99 | 107 | 120 |
| Total Debt | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 |
| Net Working Capital | 37 | 23 | 21 | 34 | 26 | 25 | 53 | 57 | 68 | 80 |
| Contingent Liabilities | 22 | 20 | 21 | 21 | 21 | 20 | 20 | 20 | 20 | 20 |
| Book Value per Share | 11.05 | 12.25 | 12.73 | 13.12 | 13.57 | 14.48 | 16.03 | 16.79 | 18.79 | 20.65 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 |
| Net Working Capital | 37 | 23 | 21 | 34 | 26 | 25 | 53 | 57 | 68 | 80 |
| Contingent Liabilities | 22 | 20 | 21 | 21 | 21 | 20 | 20 | 20 | 20 | 20 |
| Book Value per Share | 11.05 | 12.25 | 12.73 | 13.12 | 13.57 | 14.48 | 16.03 | 16.79 | 18.79 | 20.65 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2016
- Equity Capital
- 44
- 5
- 0
- Trade Payables
- 0
- 4
- Total Liabilities
- 53
- 5
- 3
- 0
- Cash & Bank
- 22
- 24
- Total Assets
- 53
- Total Debt
- 0
- Net Working Capital
- 37
- Contingent Liabilities
- 22
- Book Value per Share
- 11.05
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 37
- Contingent Liabilities
- 22
- Book Value per Share
- 11.05
- Face Value
- 10.00
Mar 2017
- Equity Capital
- 44
- 10
- 2
- Trade Payables
- 0
- 5
- Total Liabilities
- 61
- 1
- 5
- 0
- Cash & Bank
- 21
- 34
- Total Assets
- 61
- Total Debt
- 2
- Net Working Capital
- 23
- Contingent Liabilities
- 20
- Book Value per Share
- 12.25
- Face Value
- 10.00
- Total Debt
- 2
- Net Working Capital
- 23
- Contingent Liabilities
- 20
- Book Value per Share
- 12.25
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 44
- 12
- 0
- Trade Payables
- 0
- 6
- Total Liabilities
- 63
- 1
- 4
- 0
- Cash & Bank
- 19
- 39
- Total Assets
- 63
- Total Debt
- 0
- Net Working Capital
- 21
- Contingent Liabilities
- 21
- Book Value per Share
- 12.73
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 21
- Contingent Liabilities
- 21
- Book Value per Share
- 12.73
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 44
- 14
- 0
- Trade Payables
- 0
- 6
- Total Liabilities
- 64
- 1
- 3
- 0
- Cash & Bank
- 34
- 26
- Total Assets
- 64
- Total Debt
- 0
- Net Working Capital
- 34
- Contingent Liabilities
- 21
- Book Value per Share
- 13.12
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 34
- Contingent Liabilities
- 21
- Book Value per Share
- 13.12
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 44
- 16
- 0
- Trade Payables
- 0
- 10
- Total Liabilities
- 70
- 0
- 3
- 0
- Cash & Bank
- 35
- 32
- Total Assets
- 70
- Total Debt
- 0
- Net Working Capital
- 26
- Contingent Liabilities
- 21
- Book Value per Share
- 13.57
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 26
- Contingent Liabilities
- 21
- Book Value per Share
- 13.57
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 44
- 20
- 0
- Trade Payables
- 0
- 17
- Total Liabilities
- 81
- 1
- 1
- 0
- Cash & Bank
- 37
- 43
- Total Assets
- 81
- Total Debt
- 0
- Net Working Capital
- 25
- Contingent Liabilities
- 20
- Book Value per Share
- 14.48
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 25
- Contingent Liabilities
- 20
- Book Value per Share
- 14.48
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 44
- 27
- 0
- Trade Payables
- 1
- 20
- Total Liabilities
- 92
- 1
- 1
- 0
- Cash & Bank
- 66
- 24
- Total Assets
- 92
- Total Debt
- 0
- Net Working Capital
- 53
- Contingent Liabilities
- 20
- Book Value per Share
- 16.03
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 53
- Contingent Liabilities
- 20
- Book Value per Share
- 16.03
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 44
- 30
- 3
- Trade Payables
- 1
- 21
- Total Liabilities
- 99
- 1
- 1
- 0
- Cash & Bank
- 70
- 27
- Total Assets
- 99
- Total Debt
- 3
- Net Working Capital
- 57
- Contingent Liabilities
- 20
- Book Value per Share
- 16.79
- Face Value
- 10.00
- Total Debt
- 3
- Net Working Capital
- 57
- Contingent Liabilities
- 20
- Book Value per Share
- 16.79
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 44
- 39
- 0
- Trade Payables
- 0
- 24
- Total Liabilities
- 107
- 1
- 2
- 5
- Cash & Bank
- 63
- 36
- Total Assets
- 107
- Total Debt
- 0
- Net Working Capital
- 68
- Contingent Liabilities
- 20
- Book Value per Share
- 18.79
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 68
- Contingent Liabilities
- 20
- Book Value per Share
- 18.79
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 44
- 47
- 0
- Trade Payables
- 0
- 28
- Total Liabilities
- 120
- 1
- 2
- 6
- Cash & Bank
- 82
- 30
- Total Assets
- 120
- Total Debt
- 0
- Net Working Capital
- 80
- Contingent Liabilities
- 20
- Book Value per Share
- 20.65
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 80
- Contingent Liabilities
- 20
- Book Value per Share
- 20.65
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 6 | 5 | 5 | 15 | 8 | 1 | -5 | -1 | 0 | |
| Cash from Investing | -5 | -6 | -3 | -3 | -10 | -8 | -1 | -1 | -0 | 1 |
| Cash from Financing | 0 | 0 | -1 | 0 | 0 | -2 | -2 | -1 | -0 | -0 |
| -0 | -1 | 1 | 2 | 5 | -2 | -2 | -7 | -1 | 1 | |
| Free Cash Flow | 4 | 6 | 2 | 5 | 15 | 8 | 0 | -5 | -1 | -0 |
| OCF / Net Profit | 1.58 | 1.04 | 2.09 | 2.81 | 7.14 | 2.01 | 0.08 | -1.94 | -0.14 | 0.01 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 32 | 35 | 30 | 23 | 16 | 1 |
| OCF / Net Profit | 1.58 | 1.04 | 2.09 | 2.81 | 7.14 | 2.01 | 0.08 | -1.94 | -0.14 | 0.01 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 32 | 35 | 30 | 23 | 16 | 1 |
Mar 2016
- 4
- Cash from Investing
- -5
- Cash from Financing
- 0
- -0
- Free Cash Flow
- 4
- OCF / Net Profit
- 1.58
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.58
- Cumulative 5-Year FCF
- 0
Mar 2017
- 6
- Cash from Investing
- -6
- Cash from Financing
- 0
- -1
- Free Cash Flow
- 6
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.04
- Cumulative 5-Year FCF
- 0
Mar 2018
- 5
- Cash from Investing
- -3
- Cash from Financing
- -1
- 1
- Free Cash Flow
- 2
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.09
- Cumulative 5-Year FCF
- 0
Mar 2019
- 5
- Cash from Investing
- -3
- Cash from Financing
- 0
- 2
- Free Cash Flow
- 5
- OCF / Net Profit
- 2.81
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.81
- Cumulative 5-Year FCF
- 0
Mar 2020
- 15
- Cash from Investing
- -10
- Cash from Financing
- 0
- 5
- Free Cash Flow
- 15
- OCF / Net Profit
- 7.14
- Cumulative 5-Year FCF
- 32
- OCF / Net Profit
- 7.14
- Cumulative 5-Year FCF
- 32
Mar 2021
- 8
- Cash from Investing
- -8
- Cash from Financing
- -2
- -2
- Free Cash Flow
- 8
- OCF / Net Profit
- 2.01
- Cumulative 5-Year FCF
- 35
- OCF / Net Profit
- 2.01
- Cumulative 5-Year FCF
- 35
Mar 2022
- 1
- Cash from Investing
- -1
- Cash from Financing
- -2
- -2
- Free Cash Flow
- 0
- OCF / Net Profit
- 0.08
- Cumulative 5-Year FCF
- 30
- OCF / Net Profit
- 0.08
- Cumulative 5-Year FCF
- 30
Mar 2023
- -5
- Cash from Investing
- -1
- Cash from Financing
- -1
- -7
- Free Cash Flow
- -5
- OCF / Net Profit
- -1.94
- Cumulative 5-Year FCF
- 23
- OCF / Net Profit
- -1.94
- Cumulative 5-Year FCF
- 23
Mar 2024
- -1
- Cash from Investing
- -0
- Cash from Financing
- -0
- -1
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.14
- Cumulative 5-Year FCF
- 16
- OCF / Net Profit
- -0.14
- Cumulative 5-Year FCF
- 16
Mar 2025
- 0
- Cash from Investing
- 1
- Cash from Financing
- -0
- 1
- Free Cash Flow
- -0
- OCF / Net Profit
- 0.01
- Cumulative 5-Year FCF
- 1
- OCF / Net Profit
- 0.01
- Cumulative 5-Year FCF
- 1
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 0.62 | 1.20 | 0.50 | 0.40 | 0.47 | 0.91 | 1.57 | 0.62 | 1.81 | 1.91 |
| Book Value (₹) | 11.05 | 12.25 | 12.73 | 13.12 | 13.57 | 14.48 | 16.03 | 16.79 | 18.79 | 20.65 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.78 | 1.32 | 0.60 | 0.45 | 0.54 | 0.96 | 1.61 | 0.70 | 1.90 | 2.01 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 52.69% | 76.28% | 51.24% | 43.15% | 54.32% | 54.91% | 49.87% | 34.72% | 48.49% | 45.43% |
| Net Margin % | 36.21% | 57.99% | 19.03% | 21.75% | 23.82% | 33.79% | 33.76% | 14.95% | 32.25% | 31.61% |
| ROE % | 5.78% | 10.32% | 4.01% | 3.08% | 3.53% | 6.52% | 10.28% | 3.75% | 10.18% | 9.67% |
| ROCE % | 6.82% | 12.26% | 9.85% | 5.82% | 7.53% | 10.30% | 14.90% | 8.05% | 14.60% | 13.44% |
| 5.42% | 9.31% | 3.59% | 2.78% | 3.10% | 5.35% | 8.04% | 2.85% | 7.79% | 7.46% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 334 | 330 | 269 | 297 | 128 | 63 | 58 | 75 | 64 | 72 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 334 | 330 | 269 | 297 | 128 | 63 | 58 | 75 | 64 | 72 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.03x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.04x | 0.00x | 0.00x |
| Interest Coverage (x) | 28.56x | 7.97x | 3.51x | 2.18x | 2.93x | 4.20x | 6.58x | 6.71x | 152.14x | 45.04x |
| 5.30x | 3.10x | 3.01x | 4.30x | 2.82x | 2.26x | 3.56x | 3.48x | 3.87x | 3.83x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -17.10% | 20.93% | 26.77% | -30.41% | 8.05% | 36.94% | 71.71% | -11.39% | 36.37% | 7.43% |
| Operating Profit Growth % | -43.15% | 75.09% | -14.85% | -41.40% | 36.03% | 38.44% | 55.93% | -38.30% | 90.80% | 0.74% |
| Net Profit Growth % | -44.76% | 93.70% | -58.39% | -20.50% | 18.33% | 94.31% | 71.55% | -60.76% | 194.22% | 5.28% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 194.20% | 5.28% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 23.69x | 14.71x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.28x | 1.36x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.53x | 3.50x |
Mar 2016
- EPS (₹)
- 0.62
- Book Value (₹)
- 11.05
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.78
- Operating Margin %
- 52.69%
- Net Margin %
- 36.21%
- ROE %
- 5.78%
- ROCE %
- 6.82%
- 5.42%
- Debtor Days
- 334
- Inventory Days
- 0
- Payable Days
- 0
- 334
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 28.56x
- 5.30x
- Revenue Growth %
- -17.10%
- Operating Profit Growth %
- -43.15%
- Net Profit Growth %
- -44.76%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 1.20
- Book Value (₹)
- 12.25
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.32
- Operating Margin %
- 76.28%
- Net Margin %
- 57.99%
- ROE %
- 10.32%
- ROCE %
- 12.26%
- 9.31%
- Debtor Days
- 330
- Inventory Days
- 0
- Payable Days
- 0
- 330
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 7.97x
- 3.10x
- Revenue Growth %
- 20.93%
- Operating Profit Growth %
- 75.09%
- Net Profit Growth %
- 93.70%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 0.50
- Book Value (₹)
- 12.73
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.60
- Operating Margin %
- 51.24%
- Net Margin %
- 19.03%
- ROE %
- 4.01%
- ROCE %
- 9.85%
- 3.59%
- Debtor Days
- 269
- Inventory Days
- 0
- Payable Days
- 0
- 269
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 3.51x
- 3.01x
- Revenue Growth %
- 26.77%
- Operating Profit Growth %
- -14.85%
- Net Profit Growth %
- -58.39%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 0.40
- Book Value (₹)
- 13.12
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.45
- Operating Margin %
- 43.15%
- Net Margin %
- 21.75%
- ROE %
- 3.08%
- ROCE %
- 5.82%
- 2.78%
- Debtor Days
- 297
- Inventory Days
- 0
- Payable Days
- 0
- 297
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 2.18x
- 4.30x
- Revenue Growth %
- -30.41%
- Operating Profit Growth %
- -41.40%
- Net Profit Growth %
- -20.50%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 0.47
- Book Value (₹)
- 13.57
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.54
- Operating Margin %
- 54.32%
- Net Margin %
- 23.82%
- ROE %
- 3.53%
- ROCE %
- 7.53%
- 3.10%
- Debtor Days
- 128
- Inventory Days
- 0
- Payable Days
- 0
- 128
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 2.93x
- 2.82x
- Revenue Growth %
- 8.05%
- Operating Profit Growth %
- 36.03%
- Net Profit Growth %
- 18.33%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 0.91
- Book Value (₹)
- 14.48
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.96
- Operating Margin %
- 54.91%
- Net Margin %
- 33.79%
- ROE %
- 6.52%
- ROCE %
- 10.30%
- 5.35%
- Debtor Days
- 63
- Inventory Days
- 0
- Payable Days
- 0
- 63
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 4.20x
- 2.26x
- Revenue Growth %
- 36.94%
- Operating Profit Growth %
- 38.44%
- Net Profit Growth %
- 94.31%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 1.57
- Book Value (₹)
- 16.03
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.61
- Operating Margin %
- 49.87%
- Net Margin %
- 33.76%
- ROE %
- 10.28%
- ROCE %
- 14.90%
- 8.04%
- Debtor Days
- 58
- Inventory Days
- 0
- Payable Days
- 0
- 58
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 6.58x
- 3.56x
- Revenue Growth %
- 71.71%
- Operating Profit Growth %
- 55.93%
- Net Profit Growth %
- 71.55%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 0.62
- Book Value (₹)
- 16.79
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.70
- Operating Margin %
- 34.72%
- Net Margin %
- 14.95%
- ROE %
- 3.75%
- ROCE %
- 8.05%
- 2.85%
- Debtor Days
- 75
- Inventory Days
- 0
- Payable Days
- 0
- 75
- Debt to Equity (x)
- 0.04x
- Interest Coverage (x)
- 6.71x
- 3.48x
- Revenue Growth %
- -11.39%
- Operating Profit Growth %
- -38.30%
- Net Profit Growth %
- -60.76%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 1.81
- Book Value (₹)
- 18.79
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.90
- Operating Margin %
- 48.49%
- Net Margin %
- 32.25%
- ROE %
- 10.18%
- ROCE %
- 14.60%
- 7.79%
- Debtor Days
- 64
- Inventory Days
- 0
- Payable Days
- 0
- 64
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 152.14x
- 3.87x
- Revenue Growth %
- 36.37%
- Operating Profit Growth %
- 90.80%
- Net Profit Growth %
- 194.22%
- 194.20%
- P/E (x)
- 23.69x
- P/B (x)
- 2.28x
- Dividend Yield %
- 0.00%
- 10.53x
Mar 2025
- EPS (₹)
- 1.91
- Book Value (₹)
- 20.65
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.01
- Operating Margin %
- 45.43%
- Net Margin %
- 31.61%
- ROE %
- 9.67%
- ROCE %
- 13.44%
- 7.46%
- Debtor Days
- 72
- Inventory Days
- 0
- Payable Days
- 0
- 72
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 45.04x
- 3.83x
- Revenue Growth %
- 7.43%
- Operating Profit Growth %
- 0.74%
- Net Profit Growth %
- 5.28%
- 5.28%
- P/E (x)
- 14.71x
- P/B (x)
- 1.36x
- Dividend Yield %
- 0.00%
- 3.50x
Documents
Announcements
- Copy of Newspaper Publication
2026-07-13 - Indbank Merchant Banking Services Limited has informed the Exchange about Copy of Newspaper Publication
- Updates
2026-07-08 - Indbank Merchant Banking Services Limited has informed the Exchange regarding 'Revised Outcome of Board Meeting'.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Nothing filed yet.