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Bandhan Bank Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹129.60Overvalued by 25.52%vs CMP ₹174.00

P/E (20.7) × ROE (4.9%) × BV (₹159.00) × DY (0.86%)

₹129.84Overvalued by 25.38%vs CMP ₹174.00
MoS: -34% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹196.5024%Under (+12.9%)
Graham NumberEarnings₹149.5317%Over (-14.1%)
Earnings PowerEarnings₹119.5512%Over (-31.3%)
DCFCash Flow₹153.4412%Over (-11.8%)
Net Asset ValueAssets₹158.838%Fair (-8.7%)
EV/EBITDAEnterprise₹17.3310%Over (-90%)
Dividend DiscountDividends₹55.0010%Over (-68.4%)
Earnings YieldEarnings₹62.508%Over (-64.1%)
Consensus (8 models)₹129.84100%Overvalued
Key Drivers: EPS CAGR 51.6% lifts DCF — verify sustainability. | ROE 4.9% is below cost of equity.

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

Analyst Summary

Bandhan Bank Ltd operates in the Finance - Banks - Private Sector segment, NSE: BANDHANBNK | BSE: 541153, current market price is ₹174.00, market cap is 28,017 Cr.. At a glance, stock P/E is 20.7, ROE is 4.88 %, ROCE is 6.41 %, book value is 159, dividend yield is 0.86 %. The latest intrinsic value estimate is ₹129.84, around 25.4% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹21,948 Cr versus the prior period change of 16.3%, while latest net profit is about ₹2,745 Cr with a prior-period change of 23.1%. The 52-week range shown on this page is 221/134, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisBandhan 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 L671…

This summary is generated from the stock page data available for Bandhan Bank Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

46
Bandhan Bank Ltd scores 46/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 6.4% WeakROE 4.9% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money30/100 · Weak
FII holding down -4.80% (6mo) SellingDII holding up 9.65% MF buyingPromoter decreased by 1.44% Caution
Earnings Quality50/100 · Moderate
Quarterly Momentum40/100 · Moderate
Profit (4Q): -59% YoY Declining
Industry Rank40/100 · Moderate
P/E 20.7 vs industry 20.8 In-lineROCE 6.4% vs industry 6.4% AverageROE 4.9% vs industry 10.0% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 5:15 am

Market Cap 28,017 Cr.
Current Price 174
Intrinsic Value₹129.84
High / Low 221/134
Stock P/E20.7
Book Value 159
Dividend Yield0.86 %
ROCE6.41 %
ROE4.88 %
Face Value 10.0
PEG Ratio0.40

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 28,017 Cr. 174 221/13420.7 1590.86 %6.41 %4.88 % 10.0
Karur Vysya Bank Ltd 32,684 Cr. 338 352/20211.9 1460.77 %7.62 %19.1 % 2.00
City Union Bank Ltd 21,025 Cr. 212 245/14515.0 1070.94 %6.74 %13.2 % 1.00
Jammu & Kashmir Bank Ltd 16,100 Cr. 146 202/97.46.99 1541.47 %5.84 %15.4 % 1.00
Ujjivan Small Finance Bank Ltd 13,696 Cr. 70.3 73.9/41.915.1 35.10.00 %7.73 %10.8 % 10.0
Industry Average150,380.09 Cr351.6920.82225.320.56%6.43%10.04%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: August 28, 2026, 6:09 pm

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 5011,0951,0951,1931,1931,6101,6111,6111,6111,6111,6111,611
Reserves 12,2393,3518,18910,00913,58515,79815,77017,97319,99922,99423,964
Deposits12,08923,22933,86943,23257,08277,97296,331108,065135,202151,212166,344
Borrowing03,0521,02928552116,37916,96019,92124,71116,37211,13814,303
Other Liabilities 251,2821,5327741,4873,0622,6755,2343,6774,6594,5204,902
Total Liabilities 52719,75630,23644,31056,44291,718115,016138,867156,037177,842191,476211,124
Fixed Assets 0237252238222347432415509959855931
CWIP 1080001092255173346214325470
Investments 03,7585,5168,37210,03715,35225,15529,07932,36629,28840,71238,668
Other Assets 41815,76124,46835,70046,07375,99789,374109,200122,817147,381149,584171,054
Total Assets 52719,75630,23644,31056,44291,718115,016138,867156,037177,842191,476211,124

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 8,885-2,5992,6956,583-909902-4,24514,8082,7521,143
Cash from Investing Activity + -2,671-2,237-2,373-4,187-1,804-612-1,6181,691-3,879317
Cash from Financing Activity + -2,0232,8461051545882,8034,791-8,579-5,4752,923
Net Cash Flow 4,192-1,9894272,550-2,1253,093-1,0717,921-6,6014,382
Free Cash Flow 8,803-2,6712,5246,481-1,129691-4,65414,2522,466616
CFO/OP 330%-56%91%108%3%62%-49%167%29%18%

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

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters 39.98%39.98%39.98%39.98%39.98%39.98%39.98%40.92%40.29%39.74%38.98%37.54%
FIIs 32.78%34.75%31.20%28.25%26.73%23.23%22.73%24.34%23.44%22.32%22.07%18.64%
DIIs 17.45%14.79%12.42%15.06%16.33%15.41%16.36%16.52%17.82%18.76%22.33%27.47%
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 9.73%10.42%16.32%16.63%16.89%21.32%20.86%18.14%18.39%19.11%16.55%16.26%
No. of Shareholders 5,32,1575,50,1387,24,1537,58,7157,49,3158,61,2288,59,4727,88,1237,69,1927,67,1367,11,2846,64,000

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

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

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

As of 07 September 2026, Bandhan Bank Ltd's intrinsic value is ₹129.84, which is 25.38% lower than the current market price of ₹174.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.88 %), book value (₹159), dividend yield (0.86 %), 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 ₹174.00 as of 07 September 2026, with a FY2026-2027 high of ₹221 and low of ₹134. The stock is currently in the middle of its 52-week range. Market cap stands at ₹28,017 Cr..

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

Bandhan Bank Ltd has a P/E ratio of 20.7, which is below the industry average of 20.82. This is broadly in line with or below the industry average.

Is Bandhan Bank Ltd financially healthy?

Key indicators for Bandhan Bank Ltd: ROCE of 6.41 % is on the lower side compared to the industry average of 6.43%; ROE of 4.88 % is below ideal levels (industry average: 10.04%). Dividend yield is 0.86 %.

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 0.86 % at the current price of ₹174.00. The company pays dividends, though the yield is modest.

Last Updated: August 25, 2026, 5:15 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541153 | NSE: BANDHANBNK
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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