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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 542867 | NSE: CSBBANK

CSB Bank Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:18 pm

Market Cap 5,309 Cr.
Current Price 306
High / Low422/292
Stock P/E9.60
Book Value 219
Dividend Yield0.00 %
ROCE6.94 %
ROE16.2 %
Face Value 10.0
PEG Ratio0.08

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

View Share Price Target for CSB Bank Ltd

Competitors of CSB 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 CSB Bank Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue497495496528520536555592636683687762795
Interest221228217224216225230242288319344379409
Expenses281257180157191212209231263309308308376
Financing Profit-61099146113981161188555357510
Financing Margin %-1%2%20%28%22%18%21%20%13%8%5%10%1%
Other Income6471605264554590126122143125197
Depreciation-0-0-0-0-0-0-0-0-0-0-0-0-0
Profit before tax5882158198176153161208211177178200206
Tax %26%25%25%25%26%25%25%25%26%25%25%25%27%
Net Profit4361119148131115121156156132133150151
EPS in Rs2.473.526.838.557.536.606.958.999.017.627.688.648.73
Gross NPA %2.68%4.88%4.11%2.62%1.81%1.79%1.65%1.45%1.26%1.27%1.27%1.22%1.47%
Net NPA %1.17%3.21%2.63%1.36%0.68%0.60%0.57%0.42%0.35%0.32%0.33%0.31%0.51%

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
Revenue1,3211,5041,5451,4831,3361,2971,3481,5101,8722,0382,3202,928
Interest9821,1251,1891,1591,0239129089189318859861,451
Expenses3944425556435896448596569117488731,299
Financing Profit-55-63-199-319-275-259-419-6430405461177
Financing Margin %-4%-4%-13%-22%-21%-20%-31%-4%2%20%20%6%
Other Income95117127105281125136222303247316584
Depreciation77111415161724413843-0
Profit before tax3347-82-228-9-149-300134293614734761
Tax %19%34%35%34%117%35%34%90%25%25%25%26%
Net Profit2731-53-1502-97-19713218458547567
EPS in Rs6.367.40-8.81-20.880.19-12.04-22.980.7312.5926.4331.5532.67
Dividend Payout %24%14%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)14.81%-270.97%-183.02%101.33%-4950.00%-103.09%106.60%1576.92%110.09%19.43%3.66%
Change in YoY Net Profit Growth (%)0.00%-285.78%87.95%284.35%-5051.33%4846.91%209.69%1470.32%-1466.83%-90.66%-15.78%

CSB 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:7%
5 Years:17%
3 Years:16%
TTM:25%
Compounded Profit Growth
10 Years:34%
5 Years:37%
3 Years:37%
TTM:-4%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:3%
1 Year:-19%
Return on Equity
10 Years:8%
5 Years:15%
3 Years:18%
Last Year:16%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital42426072818186174174174174174
Reserves5385788288219188086941,7872,0072,4783,0303,630
Borrowings12,54114,22914,52014,48014,95314,73215,12416,58520,56622,19525,28931,476
Other Liabilities3283163512792712491,007319591509670776
Total Liabilities13,44915,16515,76015,65216,22315,87016,91118,86423,33725,35629,16236,056
Fixed Assets4348175215215216218253269288319406
CWIP000000000000
Investments3,3015,1324,4275,9875,7624,1144,0285,3606,1267,0125,8497,551
Other Assets10,1059,98511,1589,45010,24611,54012,66613,25116,94218,05722,99428,099
Total Assets13,44915,16515,76015,65216,22315,87016,91118,86423,33725,35629,16236,056

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-356-16639527-893-1,1091,374-8522,2111,783
Cash from Investing Activity +-16-13-17-18-22-235-1,231131-724-1,439
Cash from Financing Activity +97106106-56741,310632581-1,224974
Net Cash Flow-276-724854-242-34775-1402631,318

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow382.00428.00541.00629.00575.00630.00844.00640.00891.00726.00848.00-30.00

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 %5%5%-7%-17%0%-10%-24%1%11%19%19%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters49.72%49.72%49.72%49.72%49.72%49.72%49.72%49.72%49.72%49.72%49.72%40.00%
FIIs5.66%5.72%5.02%5.06%5.16%5.37%5.73%5.89%4.65%4.62%4.93%12.42%
DIIs11.67%12.23%12.37%11.22%10.49%11.92%11.61%12.19%14.35%16.07%15.94%18.71%
Public30.06%29.44%30.01%31.12%31.75%30.10%30.07%29.32%28.43%26.74%26.80%26.34%
Others2.88%2.88%2.88%2.88%2.88%2.88%2.88%2.88%2.88%2.86%2.62%2.54%
No. of Shareholders49,69150,07254,23557,61356,84256,80156,75257,08755,52962,95863,49767,004

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Small Cap Fund11,000,0001.48410.14803,6682024-11-201268.72%
SBI Magnum Global Fund4,100,0002.43152.87803,6682024-11-20410.16%
ICICI Prudential Multicap Fund1,258,9760.446.94803,6682024-11-2056.65%
SBI Magnum Childrens Benefit Fund - Investment Plan1,000,0001.9337.29803,6682024-11-2024.43%
UTI MNC Fund998,3601.3137.22803,6682024-11-2024.23%
Sundaram Small Cap Fund985,6761.1736.75803,6682024-11-2022.65%
PGIM India Small Cap Fund864,3582.2132.23803,6682024-11-207.55%
Sundaram Services Fund816,1260.930.43803,6682024-11-201.55%
Edelweiss Small Cap Fund803,6680.8929.96803,6682024-11-200%
Sundaram Financial Services Opportunities Fund730,9652.1727.25803,6682024-11-20-9.05%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.)32.6731.5526.4312.590.88
Diluted EPS (Rs.)32.6731.5526.4312.590.88
Cash EPS (Rs.)35.8634.0328.6114.932.09
Book Value[Excl.RevalReserv]/Share (Rs.)209.05175.85143.96116.73104.00
Book Value[Incl.RevalReserv]/Share (Rs.)219.18184.61152.78125.63113.00
Operating Revenue / Share (Rs.)168.70133.67117.46107.8987.02
Net Profit / Share (Rs.)32.6631.5426.4212.590.73
Interest Income / Employee (Rs.)3723187.463390810.414371244.484479173.444712504.68
Net Profit / Employee (Rs.)720872.19800118.99983259.70522488.5239715.04
Business / Employee (Rs.)68745236.3066008561.9177209900.0680330538.2884759777.78
Interest Income / Branch (Rs.)37580774.0732996492.1833802840.8036568251.9536736897.81
Net Profit / Branches (Rs.)7276274.717786079.667603548.924265628.91309603.41
Business / Branches (Rs.)693894471.12642339362.73597064285.24655823535.16660755055.96
Net Profit Margin (%)19.3623.5922.4911.660.84
Operating Profit Margin (%)-0.599.9710.38-9.74-13.83
Return On Assets (%)1.571.871.800.930.06
Return On Equity / Networth (%)15.6217.9318.3510.780.70
Net Interest Margin (X)4.094.574.544.033.13
Cost To Income (%)62.1557.1256.1654.3165.52
Interest Income / Total Assets (%)8.117.958.038.028.00
Non-Interest Income / Total Assets (%)1.621.080.971.711.17
Operating Profit / Total Assets (%)-0.040.790.83-0.78-1.10
Operating Expenses / Total Assets (%)3.553.233.103.122.82
Interest Expenses / Total Assets (%)4.023.383.493.984.86
Enterprise Value (Rs.Cr.)34530.6528085.3124919.3123868.0618092.96
EV Per Net Sales (X)11.8012.1112.2312.7511.98
Price To Book Value (X)1.691.401.471.991.14
Price To Sales (X)2.101.841.802.161.36
Retention Ratios (%)100.00100.00100.00100.00100.00
Earnings Yield (X)0.090.120.120.050.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of CSB Bank Ltd as of November 21, 2024 is: 347.40

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 21, 2024, CSB Bank Ltd is Undervalued by 13.53% compared to the current share price 306.00

Intrinsic Value of CSB Bank Ltd as of November 21, 2024 is: 743.01

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 21, 2024, CSB Bank Ltd is Undervalued by 142.81% compared to the current share price 306.00

Last 5 Year EPS CAGR: 113.88%

*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 CSB Bank Ltd:
    1. Net Profit Margin: 19.36%
      • 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: 9.6 (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

CSB Bank Ltd. is a Public Limited Listed company incorporated on 26/11/1920 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L65191KL1920PLC000175 and registration number is 000175. 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. 2038.31 Cr. and Equity Capital is Rs. 173.54 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private Sector'CSB Bhavan', Thrissur Kerala 680020investors@csb.co.in
http://www.csb.co.in
Management
NamePosition Held
Ms. Bhama KrishnamurthyChairman(NonExe.&Ind.Director)
Mr. Pralay MondalManaging Director & CEO
Mr. B K DivakaraExecutive Director
Mr. Madhavan MenonNon Executive Director
Mr. Sumit MaheshwariNon Executive Director
Ms. Sharmila Abhay KarveIndependent Director
Mr. Sudhin ChokseyIndependent Director
Mr. Sharad Kumar SaxenaIndependent Director
Ms. Renu KohliIndependent Director
Mr. Deepak MaheshwariIndependent Director

FAQ

What is the latest intrinsic value of CSB Bank Ltd?

The latest intrinsic value of CSB Bank Ltd as on 21 November 2024 is ₹347.40, which is 13.53% higher than the current market price of ₹306.00.

What is the Market Cap of CSB Bank Ltd?

The Market Cap of CSB Bank Ltd is 5,309 Cr..

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

The current stock price of CSB Bank Ltd as on 21 November 2024 is ₹306.

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

In FY 2024, the High / Low of CSB Bank Ltd stocks is 422/292.

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

The Stock P/E of CSB Bank Ltd is 9.60.

What is the Book Value of CSB Bank Ltd?

The Book Value of CSB Bank Ltd is 219.

What is the Dividend Yield of CSB Bank Ltd?

The Dividend Yield of CSB Bank Ltd is 0.00 %.

What is the ROCE of CSB Bank Ltd?

The ROCE of CSB Bank Ltd is 6.94 %.

What is the ROE of CSB Bank Ltd?

The ROE of CSB Bank Ltd is 16.2 %.

What is the Face Value of CSB Bank Ltd?

The Face Value of CSB 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 CSB 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