Indbank Merchant Banking Services Limited

NSE: INDBANK BSE: 511473 SECTOR: Financial Services - Capital Markets

34 0(1%)

Volume

94k as on 21, Apr

Open

High

Low

VWAP

52 Week High

52 Week Low

Viand Research Rating

Quality Score

00/00

Growth Score

00/00

Valuation Score

00/00

Momentum Score

00/00

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

151

No. of Shares

4.44

P/E

22.7

P/B

2.15

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

12.53

ROCE

Profit Growth

Listing Date

08-Oct-08

Promoter Holding

64.84%

FII Holding

DII Holding

0.09%

Price Chart

Price Performance

1 Week5%

1 Month12%

3 Months3%

6 Months15%

1 Year6%

YTD1%

Moving Average

5 Day SMA35

10 Day SMA34

20 Day SMA32

30 Day SMA32

50 Day SMA34

61 Day SMA34

80 Day SMA35

200 Day SMA35

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	39	36	38	38
Resistance 2	38	36	37	38
Resistance 1	37	36	37	37
Pivot Point	36	36	36	36
Support 1	35	36	36	35
Support 2	35	36	35	35
Support 3	34	35	35	33

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	Div Yld %
1	HDFCBANK	12,11,614	787	2%	1%	22%	19%	16	0	0	0
2	ICICIBANK	9,24,275	1289	3%	3%	7%	11%	16	0	0	0
3	SBIN	8,95,185	970	2%	12%	1%	22%	12	0	0	0
4	BAJFINANCE	5,82,095	935	1%	1%	8%	2%	28	0	0	0
5	LICI	5,34,146	844	6%	6%	4%	2%	9	0	0	0
6	AXISBANK	4,05,648	1304	5%	5%	1%	9%	14	0	0	0
7	KOTAKBANK	3,87,315	389	2%	5%	81%	81%	20	0	0	0
8	BAJAJFINSV	2,89,972	1812	3%	2%	13%	11%	14	0	0	0
9	SHRIRAMFIN	2,26,801	964	3%	6%	11%	44%	19	0	0	0
10	SBILIFE	1,89,349	1888	0%	7%	7%	5%	77	0	0	0
Load More

Shareholding Pattern (%)

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021
Promoters	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%	(0.01) 64.84%
FIIs	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.03%	(0.01) 0.00%	(-0.21) 0.00%	(0.11) 0.20%	(0.01) 0.07%	(0.01) 0.05%	(0.01) 0.01%	(0.01) 0.01%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.01%	(0.01) 0.01%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%
DIIs	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%	(0.01) 0.09%
Public	35.07%	35.07%	35.08%	35.04%	35.08%	35.07%	34.87%	35.01%	35.02%	35.06%	35.07%	35.06%	35.07%	35.07%	35.06%	35.07%	35.07%	35.07%	35.07%
No. of Shareholders	50,062	50,537	51,231	51,236	50,969	51,232	49,132	49,986	48,265	43,353	44,710	43,627	44,131	44,278	43,031	42,493	41,413	40,475	39,781

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021
Sales	5.89	6.25	6.28	6.69	5.31	5.63	8.13	7.7	6.86	6.6	6.04	5.43	4.22	5.4	4.33	3.51	5.1	5.46	4.01
Expenses	4.06	3.59	3.63	3.78	3.65	3.6	3.62	3.86	3.54	3.24	2.73	3.35	3.05	3.01	2.16	6.78	2.87	6.37	2.45
Operating Profit	1.83	2.66	2.65	2.91	1.66	2.03	4.51	3.84	3.32	3.36	3.31	2.08	1.17	2.39	2.17	-3.27	2.23	-0.91	1.56
OPM %	31.07	42.56	42.2	43.5	31.26	36.06	55.47	49.87	48.4	50.91	54.8	38.31	27.73	44.26	50.12	-93.16	43.73	-16.67	38.9
Other Income	0.13	0	0.01	0	0	0.02	0	0.01	0.96	0.01	0.01	0.01	0.01	0.01	-0.01	3.88	-0.03	4.52	0.73
Interest	0.01	0.02	0.09	0.07	0.04	0.05	0.02	0.02	0.01	0	0.03	0.03	0.05	0.04	0.4	0.4	0.38	0.38	0.38
Depreciation	0.07	0.06	0.06	0.06	0.1	0.11	0.11	0.12	0.09	0.1	0.09	0.09	0.09	0.09	0.09	0.09	0.05	0.05	0.05
Profit before tax	1.88	2.58	2.51	2.78	1.52	1.89	4.38	3.71	4.18	3.27	3.2	1.97	1.04	2.27	1.67	0.12	1.77	3.18	1.86
Tax %	35.64	25.97	26.29	23.02	25	38.1	24.66	23.18	39.95	21.71	24.38	22.84	48.08	22.91	-13.77	666.67	33.33	5.97	22.58
Net Profit	1.21	1.92	1.86	2.14	1.14	1.17	3.3	2.85	2.5	2.56	2.42	1.52	0.54	1.75	1.9	-0.69	1.18	2.99	1.43
EPS in Rs	0.27	0.43	0.42	0.48	0.26	0.26	0.74	0.64	0.56	0.58	0.55	0.34	0.12	0.39	0.43	-0.16	0.27	0.67	0.32

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Sales	25.11	26.57	24.76	18.24	20.62	14.91	11.47	10.39	13.82	10.54	9.03	10.11	7.15	6.71
Expenses	15.07	14.61	13.8	12.74	14.17	12.87	12.48	8.95	8.65	10.13	5.77	5.85	5.39	6.91
Operating Profit	10.04	11.96	10.96	5.5	6.45	2.04	-1.01	1.44	5.17	0.41	3.26	4.26	1.76	-0.2
OPM %	39.98	45.01	44.26	30.15	31.28	13.68	-8.81	13.86	37.41	3.89	36.1	42.14	24.62	-2.98
Other Income	0.15	0.24	2.11	1.62	3.83	4.56	5.77	2.13	0.81	6.55	0.59	2.63	-0.64	1.94
Interest	0.19	0.26	0.08	0.89	1.53	1.53	1.52	1.53	1.58	0.81	0.11	0.29	0.14	0.01
Depreciation	0.24	0.44	0.38	0.37	0.2	0.19	0.3	0.23	0.43	0.53	0.6	0.69	0.67	0.71
Profit before tax	9.76	11.5	12.61	5.86	8.55	4.88	2.94	1.81	3.97	5.62	3.14	5.91	0.31	1.02
Tax %	27.05	26.43	28.63	40.1	18.6	17.01	28.91	2.76	44.08	5.16	12.1	15.4	3.23	28.43
Net Profit	7.12	8.46	9	3.5	6.96	4.06	2.09	1.77	2.22	5.34	2.76	4.99	0.3	0.73
EPS in Rs	1.6	1.91	2.03	0.79	1.57	0.91	0.47	0.4	0.5	1.2	0.62	1.12	0.07	0.16
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flows

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Cash from Operating Activity	2.05	0.08	-1.16	-5.3	0.55	8.14	14.92	4.95	4.65	5.55	4.34	0.84	7.9	-0.37
Cash from Investing Activity	-1.44	0.56	-0.17	-1.03	-0.98	-8.44	-10.32	-3.41	-2.94	-6.47	-4.56	-4.31	-4.58	-1
Cash from Financing Activity	-0.19	-0.12	-0.07	-0.89	-1.51	-1.51	0	0	-0.8	0	0	0	0	0
Net Cash Flow	0.41	0.52	-1.4	-7.22	-1.93	-1.8	4.61	1.54	0.9	-0.92	-0.22	-3.47	3.32	-1.37

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Equity Capital	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38
Reserves	54.36	51.18	47.27	45.08	38.99	30.13	26.75	19.9	15.83	13.86	12.13	9.98	4.67	1.91	-2.68	-2.99
Borrowings	0	3.06	0.01	0	0	2.79	0	0	0	0	0.03	1.58	0	0	0	0
Other Liabilities	24.4	18.17	26.43	41.44	22.97	20.08	21.33	19.91	13.94	9.3	24.47	24.39	8.66	6.2	9.6	5.6
Total Liabilities	123.14	116.79	118.09	130.9	106.34	97.38	92.46	84.19	74.15	67.54	81.01	80.33	57.71	52.49	51.3	46.99
Fixed Assets	3.05	0.58	3.13	3.27	3.32	3.55	3.71	3.37	3.33	3.58	3.73	4.07	4.53	5.06	5.66	6.48
CWIP	0	0	0	0	0	0	0.13	0	0	0	0	0	0	0	0	0
Investments	3.02	4.66	1.83	2.51	2.44	1.37	1.3	0.8	0.19	0.45	1.24	2.1	3.04	3.47	3.4	4.37
Other Assets	117.07	111.55	113.13	125.12	100.58	92.46	87.32	80.02	70.63	63.51	76.04	74.16	50.14	43.96	42.24	36.14
Total Assets	123.14	116.79	118.09	130.9	106.34	97.38	92.46	84.19	74.15	67.54	81.01	80.33	57.71	52.49	51.3	46.99

Delivery

#	Date	28 33% 37	Value (Cr)	Q/T 101	Del 54
1	27-May	33	0	165	71
2	26-May	34	0	100	67
3	25-May	34	0	98	53
4	22-May	34	0	77	75
5	21-May	34	0	103	69
6	20-May	34	0	84	59
7	19-May	34	0	95	52
8	18-May	34	0	77	48
9	15-May	33	0	53	70
10	14-May	34	0	92	61
11	13-May	34	0	137	66
12	12-May	33	0	90	73
13	11-May	35	0	102	78
14	8-May	35	0	113	74
15	7-May	35	0	114	63
16	6-May	35	0	90	45
17	5-May	34	0	65	60
18	4-May	35	0	43	64
19	30-Apr	34	0	72	81
20	29-Apr	35	0	114	68
21	28-Apr	35	1	128	25
22	27-Apr	34	0	67	72
23	24-Apr	34	0	50	75
24	23-Apr	34	0	64	75
25	22-Apr	34	0	125	71
26	21-Apr	35	0	92	57
27	20-Apr	36	0	97	57
28	17-Apr	36	0	109	66
29	16-Apr	35	0	86	64
30	15-Apr	34	0	88	59
31	13-Apr	33	0	72	66
32	10-Apr	33	0	97	63
33	9-Apr	32	0	98	74
34	8-Apr	33	0	78	68
35	7-Apr	32	0	73	72
36	6-Apr	32	0	82	74
37	2-Apr	32	0	86	60
38	1-Apr	31	0	69	62
39	30-Mar	29	0	107	70
40	27-Mar	31	0	99	83
41	25-Mar	31	0	104	48
42	24-Mar	30	0	38	55
43	23-Mar	30	0	64	67
44	20-Mar	31	0	121	65

Daily Market Cap

Date	Total Market Cap	Change	Chg %
27-May	151c	71L	0.47
26-May	151c	4L	0.03
25-May	151c	27L	0.18
22-May	151c	89L	0.59
21-May	150c	80L	0.53
20-May	151c	36L	0.24
19-May	150c	3c	1.80
18-May	148c	1c	0.89
15-May	149c	2c	1.47
14-May	151c	4c	2.74
13-May	147c	44L	0.30
12-May	147c	6c	4.09
11-May	153c	3c	1.85
07-May	156c	3c	2.21
06-May	153c	62L	0.41
05-May	153c	80L	0.52
04-May	154c	2c	1.20
30-Apr	152c	2c	1.29
29-Apr	154c	22L	0.14
28-Apr	154c	5c	3.09
24-Apr	149c	4c	2.86
23-Apr	154c	84L	0.55
22-Apr	153c	2c	1.54
21-Apr	155c	5c	3.15
20-Apr	160c	62L	0.39
17-Apr	160c	10c	6.51
15-Apr	150c	0	0

Stock Checklist

Price is below from 52 week high low average: 38%

Stock is trading above all short term SMAs: YES

Stock is trading above all long term SMAs: NO

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: NO

Promoters are buying the stock: NO

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