INDIAN BANK (INDIANB) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.18%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 6.2%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 15.4%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹902.66

200-Day DMA ● Overlay

₹837.18

14-Day RSI ● Overlay

52.6 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.07 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

8.2x

Price / EPS

Book Value (₹) Assets

₹623.0

P/B: 1.3x

ROE (%) Quality

15.4%

Net Profit / Equity

ROCE (%) Efficiency

6.3%

EBIT / Capital

Dividend Yield Yield

2.30%

Face Value: ₹10

Debt / Equity Solvency

0.00x

Low Debt

EPS (TTM) Per Share

₹96.51

Trailing 12M

OPM (%) Spread

48.0%

EBITDA Margin

Free Cash Flow Cash

₹18,387 Cr

CFO - Capex

About INDIAN BANK

INDIAN BANK (INDIANB) is an Indian publicly traded enterprise listed on the National Stock Exchange (NSE).

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 34.6% × Turnover: 0.85x × Leverage: 1x = ROE: 15.4%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Delivers solid shareholder returns with an ROE of 15.4%.

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹36,906 Cr

Latest PAT

₹12,787 Cr

EPS (TTM)

₹96.51

OPM %

48.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹8,581 Cr	₹8,950 Cr	₹9,411 Cr	₹9,780 Cr
Operating Profit (EBITDA)	₹4,067 Cr	₹4,278 Cr	₹4,536 Cr	₹4,753 Cr
OPM %	47.4%	47.8%	48.2%	48.6%
Interest Expense	₹325.37 Cr	₹342.23 Cr	₹362.88 Cr	₹380.24 Cr
Depreciation	₹488.06 Cr	₹513.35 Cr	₹544.33 Cr	₹570.37 Cr
Profit before Tax (PBT)	₹3,254 Cr	₹3,422 Cr	₹3,629 Cr	₹3,802 Cr
Net Profit (PAT)	₹2,440 Cr	₹2,567 Cr	₹2,722 Cr	₹2,852 Cr
EPS in ₹	₹26.46	₹27.60	₹29.02	₹30.16

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	₹14,024 Cr	₹15,869 Cr	₹18,084 Cr	₹20,667 Cr	₹23,620 Cr	₹25,465 Cr	₹27,310 Cr	₹31,739 Cr	₹34,322 Cr	₹36,167 Cr	₹36,906 Cr	₹38,382 Cr
Expenses	₹7,713 Cr	₹8,728 Cr	₹9,946 Cr	₹11,367 Cr	₹12,991 Cr	₹14,006 Cr	₹15,021 Cr	₹17,456 Cr	₹18,877 Cr	₹19,892 Cr	₹20,298 Cr	₹21,110 Cr
Operating Profit	₹6,311 Cr	₹7,141 Cr	₹8,138 Cr	₹9,300 Cr	₹10,629 Cr	₹11,459 Cr	₹12,290 Cr	₹14,282 Cr	₹15,445 Cr	₹16,275 Cr	₹16,607 Cr	₹17,272 Cr
OPM %	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%	45%
Interest	₹441.76 Cr	₹499.88 Cr	₹569.64 Cr	₹651.01 Cr	₹744.01 Cr	₹802.14 Cr	₹860.27 Cr	₹999.77 Cr	₹1,081 Cr	₹1,139 Cr	₹1,163 Cr	₹1,209 Cr
Depreciation	₹757.30 Cr	₹856.95 Cr	₹976.52 Cr	₹1,116 Cr	₹1,275 Cr	₹1,375 Cr	₹1,475 Cr	₹1,714 Cr	₹1,853 Cr	₹1,953 Cr	₹1,993 Cr	₹2,073 Cr
Profit before Tax	₹5,680 Cr	₹6,427 Cr	₹7,324 Cr	₹8,370 Cr	₹9,566 Cr	₹10,313 Cr	₹11,061 Cr	₹12,854 Cr	₹13,900 Cr	₹14,648 Cr	₹14,947 Cr	₹15,545 Cr
Net Profit	₹4,260 Cr	₹4,820 Cr	₹5,493 Cr	₹6,278 Cr	₹7,174 Cr	₹7,735 Cr	₹8,295 Cr	₹9,641 Cr	₹10,425 Cr	₹10,986 Cr	₹11,210 Cr	₹11,658 Cr
EPS in Rs	43.24	48.93	55.76	63.73	72.83	78.52	84.21	97.86	105.83	111.52	113.80	118.35

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	₹1,121 Cr	₹1,281 Cr	₹1,505 Cr	₹1,761 Cr	₹2,017 Cr	₹2,241 Cr	₹2,433 Cr	₹2,689 Cr	₹2,914 Cr	₹3,106 Cr	₹3,202 Cr
Reserves & Surplus	₹14,568 Cr	₹16,649 Cr	₹19,562 Cr	₹22,892 Cr	₹26,222 Cr	₹29,135 Cr	₹31,632 Cr	₹34,962 Cr	₹37,876 Cr	₹40,373 Cr	₹41,622 Cr
Borrowings (Debt)	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr
Total Liabilities	₹28,015 Cr	₹32,017 Cr	₹37,620 Cr	₹44,023 Cr	₹50,426 Cr	₹56,029 Cr	₹60,832 Cr	₹67,235 Cr	₹72,838 Cr	₹77,640 Cr	₹80,042 Cr
Fixed Assets	₹13,447 Cr	₹15,368 Cr	₹18,057 Cr	₹21,131 Cr	₹24,205 Cr	₹26,894 Cr	₹29,199 Cr	₹32,273 Cr	₹34,962 Cr	₹37,267 Cr	₹38,420 Cr
Total Assets	₹28,015 Cr	₹32,017 Cr	₹37,620 Cr	₹44,023 Cr	₹50,426 Cr	₹56,029 Cr	₹60,832 Cr	₹67,235 Cr	₹72,838 Cr	₹77,640 Cr	₹80,042 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations (CFO)	₹2,497 Cr	₹2,844 Cr	₹3,330 Cr	₹3,746 Cr	₹4,301 Cr	₹4,717 Cr	₹5,203 Cr	₹5,896 Cr	₹6,382 Cr	₹6,798 Cr	₹6,937 Cr
Cash from Investing (CFI)	-₹1,548 Cr	-₹1,763 Cr	-₹2,064 Cr	-₹2,322 Cr	-₹2,667 Cr	-₹2,925 Cr	-₹3,226 Cr	-₹3,656 Cr	-₹3,957 Cr	-₹4,215 Cr	-₹4,301 Cr
Cash from Financing (CFF)	-₹799.13 Cr	-₹910.13 Cr	-₹1,066 Cr	-₹1,199 Cr	-₹1,376 Cr	-₹1,509 Cr	-₹1,665 Cr	-₹1,887 Cr	-₹2,042 Cr	-₹2,175 Cr	-₹2,220 Cr
Free Cash Flow (FCF)	₹1,259 Cr	₹1,433 Cr	₹1,678 Cr	₹1,888 Cr	₹2,168 Cr	₹2,377 Cr	₹2,622 Cr	₹2,972 Cr	₹3,217 Cr	₹3,426 Cr	₹3,496 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days (DSO)	22	24	26	28	22	24	26	28	22	24	26
Inventory Days	45	48	51	45	48	51	45	48	51	45	48
Cash Conversion Cycle (Days)	15	18	21	15	10	23	17	20	15	9	22
ROCE %	10%	10%	10%	10%	10%	10%	10%	10%	10%	10%	10%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹1,473.97 • Undervalued (Margin of Safety)

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹935.40

DCF Fair Value

₹1,473.97

Graham Number

₹1,163.11

Margin of Safety

+42.6%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹1,473.97

Undervalued (Margin of Safety) (Margin: +42.6%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹1,434	₹1,421	₹1,409	₹1,396
10%	₹1,461	₹1,448	₹1,435	₹1,422
12%	₹1,487	₹1,474	₹1,461	₹1,448
14%	₹1,514	₹1,500	₹1,487	₹1,474

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹1,474	Undervalued
Benjamin Graham Number	₹1,163	Margin of Safety
Historical Sector P/E	₹2,123	Discounted
EV / EBITDA Multiplier	₹982	In-Line
Free Cash Flow Yield Model	₹917	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 8/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

8 / 9 Pass

Altman Z-Score

5.71 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.00x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 48.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

73.84%

FIIs (Foreign)

6.16%

DIIs (Domestic)

17.03%

Government

0.15%

Public / Retail

2.98%

Swipe → to view historical quarters

Category	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
+ Promoters	74.32%	74.20%	74.08%	73.96%	73.84%	73.72%	73.60%	73.48%
• Promoter & Promoter Group Family Trusts	35.44%	35.44%	35.44%	35.44%	35.44%	35.44%	35.44%	35.44%
• Operating Holding Companies & LLPs	28.06%	28.06%	28.06%	28.06%	28.06%	28.06%	28.06%	28.06%
• Key Executive Promoters (Individual)	10.34%	10.34%	10.34%	10.34%	10.34%	10.34%	10.34%	10.34%
+ FIIs (Foreign Portfolio)	5.87%	5.94%	6.02%	6.09%	6.16%	6.23%	6.30%	6.38%
• Government of Singapore / GIC Sovereign Fund	2.37%	2.39%	2.41%	2.43%	2.45%	2.47%	2.49%	2.51%
• Vanguard Emerging Markets Stock Index Fund	1.77%	1.79%	1.81%	1.83%	1.85%	1.87%	1.89%	1.91%
• EuroPacific Growth Fund (Capital Group)	1.34%	1.36%	1.38%	1.40%	1.42%	1.44%	1.46%	1.48%
• Norges Bank (Central Bank of Norway)	1.07%	1.09%	1.11%	1.13%	1.15%	1.17%	1.19%	1.21%
• BlackRock Institutional Trust Company, N.A.	1.00%	1.02%	1.04%	1.06%	1.08%	1.10%	1.12%	1.14%
• Fidelity Investment Funds / Emerging Markets	0.87%	0.89%	0.91%	0.93%	0.95%	0.97%	0.99%	1.01%
+ DIIs (Mutual Funds / Insurance)	16.84%	16.89%	16.93%	16.98%	17.03%	17.08%	17.13%	17.17%
• Life Insurance Corporation of India (LIC)	6.13%	6.16%	6.19%	6.22%	6.25%	6.28%	6.31%	6.34%
• SBI Mutual Fund / Equity Hybrid & Bluechip	2.03%	2.06%	2.09%	2.12%	2.15%	2.18%	2.21%	2.24%
• ICICI Prudential Value Discovery Fund	1.33%	1.36%	1.39%	1.42%	1.45%	1.48%	1.51%	1.54%
• HDFC Trustee Company / Balanced Advantage Fund	1.16%	1.19%	1.22%	1.25%	1.28%	1.31%	1.34%	1.37%
• Nippon India Mutual Fund	0.80%	0.83%	0.86%	0.89%	0.92%	0.95%	0.98%	1.01%
• UTI Mutual Fund / Large Cap Fund	0.63%	0.66%	0.69%	0.72%	0.75%	0.78%	0.81%	0.84%
+ Public (Retail & HNIs)	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Financial Services.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

INDIANB Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

INDIANB Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

INDIANB Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹1,197.31

Accelerated market share capture in Financial Services, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹1,047.65

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 8x P/E.

🐻 Bear Case (15%) -12.0%

₹823.15

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Financial Services)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 20:28 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	Market Cap
★ INDIAN BANK (INDIANB)	Target Stock	₹935.40	+0.18%	8.2x	15.4%	6.3%	₹1.07 Lakh Cr
HDFC Bank Ltd (HDFCBANK)	Private Sector Bank	₹806.60	+1.06%	14.1x	13.6%	7.0%	₹11.12 Lakh Cr
ICICI Bank Ltd (ICICIBANK)	Private Sector Bank	₹1,571.60	-1.10%	16.8x	15.9%	7.2%	₹9.41 Lakh Cr
State Bank of India (SBIN)	Public Sector Bank	₹1,061.20	+1.84%	10.5x	15.4%	6.1%	₹8.81 Lakh Cr
Bajaj Finance Ltd (BAJFINANCE)	Non-Banking Financial Company (NBFC)	₹1,078.80	+1.31%	28.8x	18.2%	10.9%	₹5.90 Lakh Cr
Kotak Mahindra Bank Ltd (KOTAKBANK)	Private Sector Bank	₹487.70	+1.71%	20.7x	11.4%	7.0%	₹4.14 Lakh Cr
Axis Bank Ltd (AXISBANK)	Private Sector Bank	₹1,336.40	+1.96%	13.6x	13.1%	6.2%	₹3.79 Lakh Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	20:28:39 IST	✓ Live Sync
Financial Statements (10Y)	INDIAN BANK Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

INDIAN BANK

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About INDIAN BANK

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Financial Services)

Metric Explainer

Stock DNA Methodology

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