Indbank Merchant Banking Services Limited

Web: indbankonline.com NSE: INDBANK BSE: 511473 SECTOR: Financial Services - Capital Markets | Add Note | View Notes

29 0(1%)

Near 52W Low of 28

Volume

94k as on 21, Apr

Open

High

Low

VWAP

52 Week High

52 Week Low

Viand Research Rating

Quality Score

37/100

Growth Score

10/100

Valuation Score

50/100

Momentum Score

20/100

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

128

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	NP Qtr Rs.Cr.
1	HDFCBANK	11,02,653	712	1%	6%	20%	26%	15	40.9	0	79219
2	ICICIBANK	10,28,335	1423	1%	2%	4%	2%	16	40.9	0	57936
3	SBIN	9,43,185	1016	2%	2%	14%	26%	11	40.9	0	86666
4	BAJFINANCE	6,57,612	1060	3%	9%	7%	12%	28	40.9	0	19332
5	LICI	5,29,086	418	1%	3%	50%	53%	9	40.9	0	57453
6	KOTAKBANK	4,23,124	424	1%	6%	2%	78%	20	40.9	0	19288
7	AXISBANK	3,96,596	1273	1%	0%	8%	21%	15	40.9	0	26548
8	BAJAJFINSV	3,16,023	1970	1%	5%	3%	1%	13	40.9	5.52	19669
9	SHRIRAMFIN	2,44,475	1041	5%	4%	1%	78%	21	40.9	0	10024
10	SBILIFE	1,76,519	1775	3%	10%	16%	4%	70	40.9	0	2470
Load More

Shareholding Pattern (%)

	Jun 2026	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%	(0.01) 64.84%
FIIs	(0.01) 0.00%	(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%	(0.01) 0.09%
Public	35.07%	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	49,528	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

	Jun 2026	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	6.9	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
Sales Growth % (YoY)	3.1%	10.9%	11%	-22.8%	-13.1%	-22.6%	-14.7%	34.6%	41.8%	62.6%	22.2%	39.5%	54.7%	-17.2%	-1.1%	8%	-10.7%	56.9%	110%	22.3%
Sales Growth % (QoQ)	17.1%	-5.8%	-0.5%	-6.1%	26%	-5.7%	-30.8%	5.6%	12.2%	3.9%	9.3%	11.2%	28.7%	-21.9%	24.7%	23.4%	-31.2%	-6.6%	36.2%	-
Expenses	3.74	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	3.16	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 %	45.8	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	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	0.01	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	0.07	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	3.08	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 %	23.05	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	2.38	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
Net Profit Growth % (QoQ)	96.7%	-37%	3.2%	-13.1%	87.7%	-2.6%	-64.5%	15.8%	14%	-2.3%	5.8%	59.2%	181.5%	-69.1%	-7.9%	375.4%	-158.5%	-60.5%	109.1%	-
Net Profit Growth % (YoY)	11.2%	6.1%	64.1%	-43.6%	-24.9%	-54.4%	-54.3%	36.4%	87.5%	363%	46.3%	27.4%	320.3%	-54.2%	-41.5%	32.9%	-	-	-	-
TTM Net Profit	7.37	7.13	7.06	6.31	7.75	8.46	9.82	11.21	10.33	9	7.04	6.23	5.71	3.5	4.14	5.38	4.91	5.6	4.42	0
EPS in Rs	0.54	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
Sales Growth %	-5.5%	7.3%	35.8%	-11.5%	38.3%	30%	10.4%	-24.8%	31.1%	16.7%	-10.7%	41.4%	6.6%	-45.4%
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
Net Profit Growth %	-15.8%	-6%	157.1%	-49.7%	71.4%	94.3%	18.1%	-20.3%	-58.4%	93.5%	-44.7%	1563.3%	-58.9%	-
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

Delivery Data: INDBANK

#	Date	28 33% 37	Value (Cr)	Q/T 127	Del 61	Del 1
1	4-Sep	29	0	139	66	0
2	3-Sep	29	2	215	59	1
3	2-Sep	31	0	81	73	0
4	1-Sep	31	0	88	60	0
5	31-Aug	32	0	51	74	0
6	28-Aug	31	0	105	56	0
7	27-Aug	32	0	118	81	0
8	26-Aug	32	0	72	75	0
9	25-Aug	32	0	80	76	0
10	24-Aug	32	0	67	61	0
11	21-Aug	32	0	99	54	0
12	20-Aug	32	0	70	79	0
13	19-Aug	32	0	96	61	0
14	18-Aug	32	0	188	82	0
15	17-Aug	32	0	83	62	0
16	14-Aug	32	0	61	74	0
17	13-Aug	33	0	70	62	0
18	12-Aug	33	0	108	64	0
19	11-Aug	33	0	109	79	0
20	10-Aug	33	0	128	77	0
21	7-Aug	33	0	129	63	0
22	6-Aug	32	0	73	66	0
23	5-Aug	32	0	53	61	0
24	4-Aug	32	0	65	66	0
25	3-Aug	32	0	69	73	0
26	31-Jul	32	0	52	72	0
27	30-Jul	32	0	69	68	0
28	29-Jul	33	0	91	73	0
29	28-Jul	33	0	92	64	0
30	27-Jul	33	0	56	44	0
31	24-Jul	33	0	49	55	0
32	23-Jul	33	0	73	61	0
33	22-Jul	33	0	85	70	0
34	21-Jul	33	0	57	69	0
35	20-Jul	33	0	78	67	0
36	17-Jul	33	0	68	65	0
37	16-Jul	33	0	63	59	0
38	15-Jul	33	0	63	63	0
39	14-Jul	33	0	48	61	0
40	13-Jul	33	0	68	67	0
41	10-Jul	34	0	56	51	0
42	9-Jul	33	0	101	53	0
43	8-Jul	34	0	97	56	0
44	7-Jul	36	2	149	40	1
45	6-Jul	34	0	192	70	0
46	3-Jul	33	0	104	75	0
47	2-Jul	33	0	81	56	0
48	1-Jul	33	0	51	61	0
49	30-Jun	33	0	51	69	0
50	29-Jun	33	0	40	58	0

Daily Market Cap

Date	Total Market Cap	Change	Chg %
04-Sep	128c	62L	0.49
03-Sep	128c	12c	8.62
01-Sep	140c	1c	0.95
31-Aug	141c	89L	0.63
27-Aug	140c	71L	0.50
26-Aug	141c	44L	0.31
25-Aug	141c	89L	0.63
24-Aug	142c	1c	0.91
21-Aug	141c	18L	0.13
19-Aug	141c	2c	1.12
18-Aug	143c	2c	1.05
17-Aug	144c	93L	0.64
14-Aug	145c	2c	1.63
13-Aug	147c	0	0
12-Aug	147c	36L	0.24
11-Aug	147c	9L	0.06
10-Aug	147c	3c	2.22
06-Aug	144c	44L	0.31
04-Aug	144c	67L	0.46
31-Jul	144c	13L	0.09
30-Jul	144c	80L	0.55
29-Jul	144c	22L	0.15
28-Jul	145c	2c	1.36
27-Jul	147c	0	0

Stock Checklist

Price is above from 52 week high low average: 4%

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

Mutual Fund Holdings

No mutual fund holding data available.

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