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Last Updated: April 2, 2026, 2:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541153 | NSE: BANDHANBNK

Bandhan Bank Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹347.25Undervalued by 134.63%vs CMP ₹148.00

P/E (23.6) × ROE (11.9%) × BV (₹153.00) × DY (1.02%)

₹209.01Undervalued by 41.22%vs CMP ₹148.00
MoS: +29.2% (Adequate)Confidence: 43/100 (Low)Models: 1 Under, 3 Fair, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹526.5124%Under (+255.8%)
Graham NumberEarnings₹146.6817%Fair (-0.9%)
Earnings PowerEarnings₹119.6812%Over (-19.1%)
DCFCash Flow₹153.6012%Fair (+3.8%)
Net Asset ValueAssets₹152.828%Fair (+3.3%)
EV/EBITDAEnterprise₹17.3510%Over (-88.3%)
Dividend DiscountDividends₹55.0010%Over (-62.8%)
Earnings YieldEarnings₹62.508%Over (-57.8%)
Consensus (8 models)₹209.01100%Undervalued
Key Drivers: EPS CAGR 51.6% lifts DCF — verify sustainability. | Wide model spread (₹17–₹527) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 51.6%

*Investments are subject to market risks

Investment Snapshot

50
Bandhan Bank Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health57/100 · Moderate
ROCE 7.8% WeakROE 11.9% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 2.40% MF buyingPromoter holding at 39.7% Stable
Earnings Quality50/100 · Moderate
Quarterly Momentum40/100 · Moderate
Profit (4Q): -59% YoY Declining
Industry Rank40/100 · Moderate
P/E 23.6 vs industry 15.0 Premium to peersROCE 7.8% vs industry 6.8% Average

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Bandhan Bank Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 23.6 vs Ind 15.0 | ROCE 7.8% | ROE 11.9% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 0.00x | Borrow/Reserve 0.00x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹2,745 Cr | CFO/NP N/A
Ownership Accumulation
-25
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -1.12 pp | DII +0.94 pp | Prom -0.55 pp
Business Momentum
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales N/A | Q NP +83.9% | Q OPM N/A
Derived FieldValueHow it is derived
Valuation Gap %+41.2%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.00xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-1.12 ppLatest FII% minus previous FII%
DII Change+0.94 ppLatest DII% minus previous DII%
Promoter Change-0.55 ppLatest promoter% minus previous promoter%
Shareholder Count Change-2,056Latest shareholder count minus previous count
Quarterly Sales ChangeN/ALatest quarter sales vs previous quarter sales
Quarterly Profit Change+83.9%Latest quarter net profit vs previous quarter net profit
Quarterly OPM ChangeN/ALatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:41 am

Market Cap 23,806 Cr.
Current Price 148
Intrinsic Value₹209.01
High / Low 192/134
Stock P/E23.6
Book Value 153
Dividend Yield1.02 %
ROCE7.82 %
ROE11.9 %
Face Value 10.0
PEG Ratio0.46

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

View Share Price Target for Bandhan Bank Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bandhan Bank Ltd 23,806 Cr. 148 192/13423.6 1531.02 %7.82 %11.9 % 10.0
Karur Vysya Bank Ltd 28,208 Cr. 292 344/15812.3 1320.74 %7.38 %17.6 % 2.00
REC Ltd 18,645 Cr. 302 340/16428.2 2570.33 %6.04 %4.57 % 10.0
City Union Bank Ltd 17,809 Cr. 240 324/14714.2 1340.83 %6.86 %12.6 % 1.00
Jammu & Kashmir Bank Ltd 12,583 Cr. 114 128/82.05.87 1411.88 %6.15 %15.8 % 1.00
Industry Average135,761.26 Cr305.6715.04214.170.61%6.84%11.80%6.30

All Competitor Stocks of Bandhan Bank Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue3,8084,2684,5234,4924,6655,1895,5365,5005,4795,4345,4765,3545,431
Interest 1,7271,7962,0322,0492,1402,3302,5312,5662,6642,6782,7182,7652,743
Expenses 2,7332,0401,9162,0362,0993,4962,1152,2943,2813,1442,9622,9773,089
Financing Profit-653432575407426-637890640-466-388-204-389-401
Financing Margin %-17%10%13%9%9%-12%16%12%-9%-7%-4%-7%-7%
Other Income 1,0336293855405457015286091,112700726546691
Depreciation 0000000000000
Profit before tax 3811,061960947971641,4181,249645311521158290
Tax % 24%24%25%24%25%15%25%25%34%-2%29%29%29%
Net Profit 291808721721733551,063937426318372112206
EPS in Rs 1.805.024.484.484.550.346.605.822.651.972.310.691.28
Gross NPA %7.15%4.87%6.76%7.32%7.02%3.84%4.23%4.68%4.68%4.71%4.96%5.02%3.33%
Net NPA %1.86%1.17%2.18%2.32%2.21%1.11%1.15%1.29%1.28%1.28%1.36%1.37%0.99%

Last Updated: February 6, 2026, 1:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 1:16 pm

MetricMar 2015n n 4mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue01,5813,9094,8026,64310,88512,52413,87115,90518,87021,94821,695
Interest 06491,5051,7702,1484,5624,9615,1576,6458,55110,45810,905
Expenses 66331,0441,5972,4673,7396,53411,2988,6939,31010,55512,172
Financing Profit-62991,3601,4362,0282,5841,029-2,5845671,009936-1,382
Financing Margin %19%35%30%31%24%8%-19%4%5%4%-6%
Other Income 81504117061,0631,5492,0222,8232,4692,1712,9672,663
Depreciation 036678678801031101432382790
Profit before tax 24141,7042,0563,0134,0532,9491292,8932,9433,6231,281
Tax % 75%33%35%35%35%25%25%2%24%24%24%
Net Profit 12751,1121,3461,9523,0242,2051262,1952,2302,7451,007
EPS in Rs 0.012.5110.1511.2816.3618.7813.690.7813.6213.8417.046.25
Dividend Payout % 0%0%0%9%18%0%7%0%11%11%9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)304.36%21.04%45.02%54.92%-27.08%-94.29%1642.06%1.59%23.09%
Change in YoY Net Profit Growth (%)0.00%-283.32%23.98%9.90%-82.00%-67.20%1736.35%-1640.47%21.50%

Bandhan Bank Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:15%
3 Years:17%
TTM:10%
Compounded Profit Growth
10 Years:133%
5 Years:-2%
3 Years:177%
TTM:-20%
Stock Price CAGR
10 Years:%
5 Years:-12%
3 Years:-17%
1 Year:-19%
Return on Equity
10 Years:13%
5 Years:10%
3 Years:12%
Last Year:12%

Last Updated: September 5, 2025, 12:30 am

Balance Sheet

Last Updated: December 10, 2025, 2:26 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5011,0951,0951,1931,1931,6101,6111,6111,6111,6111,6111,611
Reserves 12,2393,3518,18910,00913,58515,79815,77017,97319,99922,99422,971
Deposits12,08923,22933,86943,23257,08277,97296,331108,065135,202151,212158,075
Borrowing03,0521,02928552116,37916,96019,92124,71116,37211,1388,118
Other Liabilities 251,2821,5327741,4873,0622,6755,2343,6774,6594,5204,236
Total Liabilities 52719,75630,23644,31056,44291,718115,016138,867156,037177,842191,476195,011
Fixed Assets 02372522382223474324155099598551,197
CWIP 10800010922551733462143250
Investments 03,7585,5168,37210,03715,35225,15529,07932,36629,28840,71245,672
Other Assets 41815,76124,46835,70046,07375,99789,374109,200122,817147,381149,584148,142
Total Assets 52719,75630,23644,31056,44291,718115,016138,867156,037177,842191,476195,011

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 8,885-2,5992,6956,583-909902-4,24514,8082,752
Cash from Investing Activity + -2,671-2,237-2,373-4,187-1,804-612-1,6181,691-3,879
Cash from Financing Activity + -2,0232,8461051545882,8034,791-8,579-5,475
Net Cash Flow 4,192-1,9894272,550-2,1253,093-1,0717,921-6,601
Free Cash Flow 8,803-2,6712,5246,481-1,129691-4,65414,2522,466
CFO/OP 330%-56%91%108%3%62%-49%167%29%

Free Cash Flow

MonthMar 2015n n 4mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow6.00621.00-22.00-32.00-41.00-54.00-71.00-85.00-100.00-126.00-141.00

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 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE % 14%29%19%19%23%14%1%12%11%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 39.99%39.99%39.98%39.98%39.98%39.98%39.98%39.98%39.98%40.92%40.29%39.74%
FIIs 31.93%33.53%32.78%34.75%31.20%28.25%26.73%23.23%22.73%24.34%23.44%22.32%
DIIs 13.24%12.40%17.45%14.79%12.42%15.06%16.33%15.41%16.36%16.52%17.82%18.76%
Government 0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%0.07%
Public 14.77%14.02%9.73%10.42%16.32%16.63%16.89%21.32%20.86%18.14%18.39%19.11%
No. of Shareholders 5,28,8764,87,8555,32,1575,50,1387,24,1537,58,7157,49,3158,61,2288,59,4727,88,1237,69,1927,67,136

Shareholding Pattern Chart

No. of Shareholders

Bandhan Bank Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Balanced Advantage Fund 19,764,400 0.76 305.66N/AN/AN/A
SBI Contra Fund 15,242,793 0.48 235.73N/AN/AN/A
SBI Multi Asset Allocation Fund 11,500,000 1.22 190.26N/AN/AN/A
HDFC Large and Mid Cap Fund 9,265,574 0.51 143.29N/AN/AN/A
HDFC Multi Cap Fund 8,258,449 0.67 127.72N/AN/AN/A
Tata Arbitrage Fund 7,207,200 0.54 111.465,958,0002026-02-23 07:10:1520.97%
ICICI Prudential Equity & Debt Fund 7,011,442 0.22 108.434,937,8182026-02-23 00:15:3641.99%
ICICI Prudential Banking and Financial Services 6,408,145 0.9 99.1N/AN/AN/A
Bandhan Value Fund 5,500,000 0.84 85.066,500,0002025-12-14 13:37:56-15.38%
UTI Arbitrage Fund 4,705,200 0.66 72.77N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.) 17.0413.8413.620.7813.70
Diluted EPS (Rs.) 17.0413.8413.620.7813.69
Cash EPS (Rs.) 18.7715.3114.511.4614.33
Book Value[Excl.RevalReserv]/Share (Rs.) 152.73134.14121.58107.91108.08
Book Value[Incl.RevalReserv]/Share (Rs.) 152.73134.14121.58107.91108.08
Dividend / Share (Rs.) 1.501.500.000.001.00
Operating Revenue / Share (Rs.)136.24117.1398.7386.1177.76
Net Profit / Share (Rs.) 17.0413.8413.620.7813.69
Interest Income / Employee (Rs.)2925182.422491104.482281813.952303751.842532958.19
Net Profit / Employee (Rs.)365883.29294339.48314860.1220892.20446042.45
Business / Employee (Rs.)37743871.5233840995.0830533712.3231606440.6532275275.71
Interest Income / Branch (Rs.)127978009.91110997754.12112719345.15116662070.65109191035.54
Net Profit / Branches (Rs.)16007553.9413115074.7115553777.461057981.5019228046.14
Business / Branches (Rs.)1651310885.131507875114.711508335092.841600551217.831391326074.73
Net Profit Margin (%) 12.5011.8113.790.9017.60
Operating Profit Margin (%)18.9817.8518.711.0922.80
Return On Assets (%) 1.431.251.400.091.91
Return On Equity / Networth (%)11.1510.3111.200.7212.66
Net Interest Margin (X)6.005.805.946.276.57
Cost To Income (%)48.8946.8439.5330.5429.12
Interest Income / Total Assets (%)11.4610.6110.219.9810.89
Non-Interest Income / Total Assets (%)1.541.211.582.031.83
Operating Profit / Total Assets (%)-0.110.03-0.17-1.940.08
Operating Expenses / Total Assets (%)3.693.282.972.532.44
Interest Expenses / Total Assets (%)5.464.804.263.714.31
Enterprise Value (Rs.Cr.)178417.89165194.39156977.62160824.22144256.24
EV Per Net Sales (X)8.138.759.8711.5911.52
Price To Book Value (X)0.951.341.612.853.13
Price To Sales (X)1.071.541.983.574.36
Retention Ratios (%) 91.1989.16100.00-28.04100.00
Earnings Yield (X)0.110.070.060.000.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bandhan Bank Ltd. is a Public Limited Listed company incorporated on 23/12/2014 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L67190WB2014PLC204622 and registration number is 204622. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company's Total Operating Revenue is Rs. 21948.23 Cr. and Equity Capital is Rs. 1610.97 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private SectorDN 32, Sector V, Salt Lake City, Kolkata West Bengal 700091Contact not found
Management
NamePosition Held
Dr. Anup Kumar SinhaNon Exe.Ind.Chairman
Mr. Partha Pratim SenguptaManaging Director & CEO
Mr. Ratan Kumar KeshExecutive Director & COO
Mr. Rajinder Kumar BabbarExecutive Director & Chief Business Officer
Mr. Divya KrishnanNon Exe.Non Ind.Director
Dr. A S RamasastriIndependent Director
Mr. N V P TendulkarIndependent Director
Mr. Santanu MukherjeeIndependent Director
Mr. Subrata Dutta GuptaIndependent Director
Mr. Suhail ChanderIndependent Director
Mr. Vijay N BhattIndependent Director
Ms. Veni ThaparAddnl. & Ind.Director
Mr. Arun Kumar SinghNominee Director

FAQ

What is the intrinsic value of Bandhan Bank Ltd and is it undervalued?

As of 06 April 2026, Bandhan Bank Ltd's intrinsic value is ₹209.01, which is 41.22% higher than the current market price of ₹148.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.9 %), book value (₹153), dividend yield (1.02 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bandhan Bank Ltd?

Bandhan Bank Ltd is trading at ₹148.00 as of 06 April 2026, with a FY2026-2027 high of ₹192 and low of ₹134. The stock is currently near its 52-week low. Market cap stands at ₹23,806 Cr..

How does Bandhan Bank Ltd's P/E ratio compare to its industry?

Bandhan Bank Ltd has a P/E ratio of 23.6, which is above the industry average of 15.04. The premium over industry average may reflect growth expectations or speculative interest.

Is Bandhan Bank Ltd financially healthy?

Key indicators for Bandhan Bank Ltd: ROCE of 7.82 % is on the lower side compared to the industry average of 6.84%. Dividend yield is 1.02 %.

Is Bandhan Bank Ltd profitable and how is the profit trend?

Bandhan Bank Ltd reported a net profit of ₹2,745 Cr in Mar 2025 on revenue of ₹21,948 Cr. Compared to ₹126 Cr in Mar 2022, the net profit shows an improving trend.

Does Bandhan Bank Ltd pay dividends?

Bandhan Bank Ltd has a dividend yield of 1.02 % at the current price of ₹148.00. The company pays dividends, though the yield is modest.

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 Bandhan 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
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