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Last Updated on: 22 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 532772 | NSE: DCBBANK

DCB Bank Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:17 pm

Market Cap 3,593 Cr.
Current Price 114
High / Low163/109
Stock P/E6.31
Book Value 162
Dividend Yield1.10 %
ROCE7.52 %
ROE11.1 %
Face Value 10.0
PEG Ratio0.67

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for DCB Bank Ltd

Competitors of DCB Bank Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Fino Payments Bank Ltd 2,735 Cr. 329467/24929.3 77.30.00 %7.07 %14.4 % 10.0
Yes Bank Ltd 59,969 Cr. 19.132.8/19.033.5 14.30.00 %5.83 %3.18 % 2.00
Ujjivan Small Finance Bank Ltd 6,322 Cr. 32.763.0/32.65.43 28.74.59 %11.1 %26.7 % 10.0
South Indian Bank Ltd 5,876 Cr. 22.436.9/22.24.85 33.71.34 %6.19 %13.8 % 1.00
Karnataka Bank Ltd 7,538 Cr. 200287/1925.62 2882.75 %6.24 %13.7 % 10.0
Industry Average159,236.10 Cr403.0514.41197.151.01%7.10%13.93%5.95

All Competitor Stocks of DCB Bank Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue8378468698789209491,0001,0721,1791,2381,3061,3741,445
Interest526537546533539575589626693767830900937
Expenses337384332362342335359388417407412427434
Financing Profit-26-76-9-16383952586964634773
Financing Margin %-3%-9%-1%-2%4%4%5%5%6%5%5%3%5%
Other Income13012198118115929995122107107124136
Depreciation0000000000000
Profit before tax1044689102153131152153191171171171210
Tax %25%26%27%26%26%26%26%26%26%26%26%26%26%
Net Profit7834657511397112114142127127127156
EPS in Rs2.511.092.092.433.653.123.613.664.574.074.064.064.98
Gross NPA %4.13%4.91%4.68%4.78%4.32%4.21%3.89%3.62%3.19%3.26%3.36%3.43%3.23%
Net NPA %2.31%2.84%2.63%2.55%1.97%1.82%1.54%1.37%1.04%1.19%1.28%1.22%1.11%

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Revenue9161,1281,4221,6982,0762,4133,0413,5373,4583,5134,2005,362
Interest6327609141,0791,2791,4181,8922,2722,1722,1552,4833,434
Expenses2863384435507008669491,1131,2231,3561,4221,586
Financing Profit-131667097129201152641295342
Financing Margin %-0%3%5%4%5%5%7%4%2%0%7%6%
Other Income117139166220249310350391446452409474
Depreciation141823293953445157647794
Profit before tax102151208261307386507492453390628722
Tax %0%0%8%26%35%36%36%31%26%26%26%26%
Net Profit102151191195200245325338336288466536
EPS in Rs4.086.056.786.847.007.9610.5110.8910.819.2514.9517.13
Dividend Payout %0%0%0%0%7%9%10%0%0%11%8%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)48.04%26.49%2.09%2.56%22.50%32.65%4.00%-0.59%-14.29%61.81%15.02%
Change in YoY Net Profit Growth (%)0.00%-21.55%-24.40%0.47%19.94%10.15%-28.65%-4.59%-13.69%76.09%-46.78%

DCB Bank Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:17%
5 Years:12%
3 Years:16%
TTM:23%
Compounded Profit Growth
10 Years:13%
5 Years:10%
3 Years:17%
TTM:12%
Stock Price CAGR
10 Years:1%
5 Years:-8%
3 Years:6%
1 Year:1%
Return on Equity
10 Years:10%
5 Years:10%
3 Years:10%
Last Year:11%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital250250282284285308310310311311312313
Reserves7539041,3071,5081,9202,5002,8063,1123,4483,7384,2554,758
Borrowings9,88911,18513,77316,07420,56525,93431,15833,77834,18638,77445,35755,573
Other Liabilities3865847711,2521,2761,4811,5181,3051,6572,0182,4432,393
Total Liabilities11,27912,92316,13219,11924,04630,22235,79238,50539,60244,84052,36663,037
Fixed Assets236239237248489494526546569608783841
CWIP300000000534424
Investments3,3593,6343,9624,3335,8186,2197,8447,7428,4149,09812,58216,211
Other Assets7,6819,05011,93314,53717,74023,50927,42230,21830,62035,08138,95745,961
Total Assets11,27912,92316,13219,11924,04630,22235,79238,50539,60244,84052,36663,037

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +55490-496220240230-281171-1,5021,606-1,566-1,240
Cash from Investing Activity +-71-19-29-41-71-59-76-72-79-157-165-133
Cash from Financing Activity +443-665554-61321,0097796541,075-39882,070
Net Cash Flow427-194301723011,180421752-5071,051-1,722697

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow277.00327.00430.00534.00680.00841.00918.00-32.00-33.00-37.00-44.00-54.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %11%14%14%12%10%10%11%10%9%7%11%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters14.87%14.87%14.86%14.85%14.85%14.85%14.83%14.82%14.82%14.81%14.77%14.75%
FIIs10.86%9.24%8.82%12.45%12.51%12.44%12.27%12.30%12.74%13.02%12.75%14.65%
DIIs38.33%39.61%38.70%37.62%37.51%39.38%39.88%39.70%38.99%34.20%29.65%27.61%
Public35.94%36.27%37.63%35.07%35.13%33.35%33.01%33.19%33.46%37.98%42.82%43.00%
No. of Shareholders2,00,1631,97,8061,98,2271,92,5761,90,6801,80,7411,80,3101,70,1861,72,6191,85,6922,48,4712,42,749

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund - Regular Plan13,948,7220.66194.861,497,2812024-11-21831.6%
Franklin India Smaller Companies Fund12,199,0951.35170.421,497,2812024-11-21714.75%
Tata Small Cap Fund11,340,1182.28158.421,497,2812024-11-21657.38%
DSP Small Cap Fund9,511,1410.94132.871,497,2812024-11-21535.23%
Tata Banking and Financial Services Fund2,880,0221.9240.231,497,2812024-11-2192.35%
Templeton India Value Fund1,800,0001.3125.151,497,2812024-11-2120.22%
LIC MF Flexi Cap Fund1,702,0442.4423.781,497,2812024-11-2113.68%
Tata Business Cycle Fund1,658,0001.0523.161,497,2812024-11-2110.73%
Bandhan Small Cap Fund1,588,2050.4422.191,497,2812024-11-216.07%
ITI Small Cap Fund1,497,2811.0820.921,497,2812024-11-210%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.)17.1814.969.2610.8210.90
Diluted EPS (Rs.)16.9914.799.1910.7010.74
Cash EPS (Rs.)20.1517.4211.2912.6412.53
Book Value[Excl.RevalReserv]/Share (Rs.)152.85137.05122.95113.58102.60
Book Value[Incl.RevalReserv]/Share (Rs.)162.12146.58130.20121.04110.24
Dividend / Share (Rs.)1.251.251.000.000.00
Operating Revenue / Share (Rs.)171.42134.84112.96111.36113.93
Net Profit / Share (Rs.)17.1314.959.2410.8110.89
Interest Income / Employee (Rs.)4758643.334240556.284375096.535417851.175166739.08
Net Profit / Employee (Rs.)475660.72470024.13358082.33526068.93493697.74
Business / Employee (Rs.)80118564.7976344926.0079446341.7687205235.6381395501.83
Interest Income / Branch (Rs.)121313106.3398367002.3487819125.0098244727.27105256931.55
Net Profit / Branches (Rs.)12126119.9110903018.747187607.509539482.9510057622.02
Business / Branches (Rs.)2042479610.861770951971.901594686695.001581338122.161658191101.19
Net Profit Margin (%)9.9911.088.189.709.55
Operating Profit Margin (%)1.151.33-4.68-3.54-1.50
Return On Assets (%)0.850.880.640.840.87
Return On Equity / Networth (%)11.2110.907.519.5110.61
Net Interest Margin (X)3.053.273.023.243.28
Cost To Income (%)64.0163.0055.9548.5154.52
Interest Income / Total Assets (%)8.508.027.838.739.18
Non-Interest Income / Total Assets (%)0.750.781.001.151.01
Operating Profit / Total Assets (%)0.090.10-0.36-0.30-0.13
Operating Expenses / Total Assets (%)2.432.552.252.132.34
Interest Expenses / Total Assets (%)5.444.744.805.485.89
Enterprise Value (Rs.Cr.)56431.0846653.2639354.2036192.4335697.03
EV Per Net Sales (X)10.5211.1111.2010.4710.09
Price To Book Value (X)0.770.770.560.900.92
Price To Sales (X)0.690.790.610.920.83
Retention Ratios (%)92.7293.31100.00100.00100.00
Earnings Yield (X)0.140.130.130.100.11

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of DCB Bank Ltd as of November 22, 2024 is: 114.71

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 22, 2024, DCB Bank Ltd is Undervalued by 0.62% compared to the current share price 114.00

Intrinsic Value of DCB Bank Ltd as of November 22, 2024 is: 125.59

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 22, 2024, DCB Bank Ltd is Undervalued by 10.17% compared to the current share price 114.00

Last 5 Year EPS CAGR: 9.48%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in DCB Bank Ltd:
    1. Net Profit Margin: 9.99%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 0% (Industry Average ROCE: 7.1%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 0% (Industry Average ROE: 13.93%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 0
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 6.31 (Industry average Stock P/E: 14.41)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

DCB Bank Ltd. is a Public Limited Listed company incorporated on 31/05/1995 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L99999MH1995PLC089008 and registration number is 089008. Currently company belongs to the Industry of Finance - Banks - Private Sector. Company’s Total Operating Revenue is Rs. 3512.77 Cr. and Equity Capital is Rs. 310.98 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private Sector601 & 602, Peninsula Business Park, Mumbai Maharashtra 400013investorgrievance@dcbbank.com
http://www.dcbbank.com
Management
NamePosition Held
Mr. Farokh N SubedarChairman
Mr. Praveen Achuthan KuttyManaging Director & CEO
Mr. Shabbir MerchantDirector
Mr. P R SomasundaramDirector
Mr. Amyn JassaniDirector
Mr. Thiyagarajan KumarDirector
Mr. Tarun BalramDirector
Mr. Rafiq SomaniDirector
Mr. Iqbal KhanDirector
Ms. Lakshmy ChandrasekaranDirector

FAQ

What is the latest intrinsic value of DCB Bank Ltd?

The latest intrinsic value of DCB Bank Ltd as on 21 November 2024 is ₹114.71, which is 0.62% higher than the current market price of ₹114.00.

What is the Market Cap of DCB Bank Ltd?

The Market Cap of DCB Bank Ltd is 3,593 Cr..

What is the current Stock Price of DCB Bank Ltd as on 21 November 2024?

The current stock price of DCB Bank Ltd as on 21 November 2024 is ₹114.

What is the High / Low of DCB Bank Ltd stocks in FY 2024?

In FY 2024, the High / Low of DCB Bank Ltd stocks is 163/109.

What is the Stock P/E of DCB Bank Ltd?

The Stock P/E of DCB Bank Ltd is 6.31.

What is the Book Value of DCB Bank Ltd?

The Book Value of DCB Bank Ltd is 162.

What is the Dividend Yield of DCB Bank Ltd?

The Dividend Yield of DCB Bank Ltd is 1.10 %.

What is the ROCE of DCB Bank Ltd?

The ROCE of DCB Bank Ltd is 7.52 %.

What is the ROE of DCB Bank Ltd?

The ROE of DCB Bank Ltd is 11.1 %.

What is the Face Value of DCB Bank Ltd?

The Face Value of DCB Bank Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in DCB Bank Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE