Fino Payments Bank Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 12:59 am

Market Cap	2,671 Cr.
Current Price	321
High / Low	467/251
Stock P/E	28.6
Book Value	77.3
Dividend Yield	0.00 %
ROCE	7.07 %
ROE	14.4 %
Face Value	10.0
PEG Ratio	1.49

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Fino Payments Bank Ltd	2,671 Cr.	321	467/251	28.6	77.3	0.00 %	7.07 %	14.4 %	10.0
Yes Bank Ltd	62,167 Cr.	19.8	32.8/19.0	34.7	14.6	0.00 %	5.81 %	3.11 %	2.00
Ujjivan Small Finance Bank Ltd	6,610 Cr.	34.2	61.8/32.0	5.68	28.7	4.39 %	11.1 %	26.7 %	10.0
South Indian Bank Ltd	6,543 Cr.	25.0	36.9/22.3	5.40	33.7	1.20 %	6.19 %	13.8 %	1.00
Karnataka Bank Ltd	7,883 Cr.	209	287/192	5.88	288	2.64 %	6.24 %	13.7 %	10.0
Industry Average	156,525.62 Cr	429.22		14.76	226.20	1.02%	7.14%	13.99%	6.14

All Competitor Stocks of

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Revenue	7	10	13	19	21	25	29	33	37	39	41	45	48
Interest	3	4	5	8	12	14	14	15	19	22	23	24	25
Expenses	231	257	263	271	278	281	287	314	320	326	353	389	404
Financing Profit	-227	-251	-255	-260	-268	-270	-272	-297	-303	-308	-335	-367	-382
Financing Margin %	-3,228%	-2,559%	-2,006%	-1,389%	-1,249%	-1,067%	-925%	-900%	-828%	-787%	-808%	-810%	-799%
Other Income	235	265	273	270	282	289	294	315	322	331	360	392	408
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	8	14	18	10	14	19	22	19	20	23	25	24	26
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	18%
Net Profit	8	14	18	10	14	19	22	19	20	23	25	24	21
EPS in Rs	1.01	1.69	2.12	1.21	1.66	2.30	2.65	2.25	2.35	2.74	3.03	2.92	2.54
Gross NPA %
Net NPA %

Last Updated: November 6, 2024, 6:45 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:28 pm

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Revenue	16	19	18	20	36	95	150	162
Interest	3	6	10	10	15	47	79	87
Expenses	279	410	690	707	915	1,076	1,260	1,388
Financing Profit	-266	-396	-682	-697	-895	-1,028	-1,189	-1,313
Financing Margin %	-1,716%	-2,068%	-3,760%	-3,441%	-2,512%	-1,084%	-792%	-808%
Other Income	215	352	673	771	973	1,135	1,328	1,405
Depreciation	16	18	24	54	35	42	53	0
Profit before tax	-67	-62	-32	20	43	65	86	92
Tax %	0%	0%	0%	0%	0%	0%	0%
Net Profit	-67	-62	-32	20	43	65	86	92
EPS in Rs	-15.11	-13.99	-7.19	4.59	5.14	7.82	10.36	11.04
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	7.46%	48.39%	162.50%	115.00%	51.16%	32.31%
Change in YoY Net Profit Growth (%)	0.00%	40.92%	114.11%	-47.50%	-63.84%	-18.86%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	51%
3 Years:	95%
TTM:	40%

Compounded Profit Growth
10 Years:	%
5 Years:	28%
3 Years:	60%
TTM:	18%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	-6%
1 Year:	25%

Return on Equity
10 Years:	%
5 Years:	11%
3 Years:	14%
Last Year:	14%

Last Updated: Unknown

Balance Sheet

Last Updated: September 15, 2024, 1:35 pm

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	45	45	45	45	83	83	83
Reserves	180	118	85	106	397	469	560
Borrowings	87	130	228	424	752	1,351	2,125
Other Liabilities	226	392	266	436	448	563	651
Total Liabilities	538	684	624	1,010	1,680	2,466	3,419
Fixed Assets	46	42	49	62	92	139	148
CWIP	1	0	0	2	0	5	47
Investments	64	73	128	504	631	1,146	1,747
Other Assets	427	569	446	443	956	1,175	1,477
Total Assets	538	684	624	1,010	1,680	2,466	3,419

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-32	207	-20	57
Cash from Investing Activity +	-69	-64	-97	-104
Cash from Financing Activity +	70	352	184	279
Net Cash Flow	-31	495	68	232

Free Cash Flow

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	192.00	280.00	462.00	283.00	163.00	0.00	-1.00

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

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
ROE %		-32%	-22%	15%	14%	13%	14%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	10.20%	10.00%	9.80%	9.26%	7.67%	7.20%	6.29%	5.57%	5.09%	5.12%	5.12%	4.21%
DIIs	9.66%	9.06%	8.80%	7.84%	3.73%	4.74%	5.48%	6.83%	5.58%	5.92%	5.99%	6.14%
Public	5.14%	5.94%	6.40%	7.91%	13.60%	13.07%	13.25%	12.60%	14.34%	13.97%	13.90%	14.65%
No. of Shareholders	93,449	88,284	85,315	83,367	81,802	77,993	74,906	67,998	68,897	65,150	63,919	64,495

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Motilal Oswal Balance Advantage Fund	2,262,066	5.41	66.4	543,000	2024-12-20	316.59%
Motilal Oswal Focused Fund	1,657,194	2.47	48.65	543,000	2024-12-20	205.19%
Tata Banking and Financial Services Fund	543,000	0.72	15.94	543,000	2024-12-20	0%
Motilal Oswal Equity Hybrid Fund	344,353	2.15	8.99	543,000	2024-12-20	-36.58%
Motilal Oswal Multi Asset Fund	207,622	5.99	6.09	543,000	2024-12-20	-61.76%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
Face Value	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	10.36	7.82	5.34	4.59	-7.19
Diluted EPS (Rs.)	10.36	7.82	5.34	4.59	-7.19
Cash EPS (Rs.)	16.78	12.85	9.40	16.61	-1.90
Book Value[Excl.RevalReserv]/Share (Rs.)	77.29	66.40	57.66	33.77	29.18
Book Value[Incl.RevalReserv]/Share (Rs.)	77.29	66.40	57.66	33.77	29.18
Operating Revenue / Share (Rs.)	18.03	11.40	4.28	4.54	4.07
Net Profit / Share (Rs.)	10.36	7.82	5.14	4.59	-7.19
Interest Income / Employee (Rs.)	559455.63	330770.22	123152.09	0.00	0.00
Net Profit / Employee (Rs.)	321491.42	226942.12	147738.68	0.00	0.00
Business / Employee (Rs.)	5266998.14	3198269.87	1731531.28	0.00	0.00
Interest Income / Branch (Rs.)	19486493.51	12320116.88	8482833.33	0.00	0.00
Net Profit / Branches (Rs.)	11197922.08	8452857.14	10176380.95	0.00	0.00
Business / Branches (Rs.)	183455701.30	119125168.83	119269523.81	0.00	0.00
Net Profit Margin (%)	57.46	68.61	119.96	101.08	-176.70
Operating Profit Margin (%)	-827.82	-1127.87	-2611.67	-3704.27	-3890.25
Return On Assets (%)	2.52	2.63	2.54	2.02	-5.13
Return On Equity / Networth (%)	13.40	11.77	8.90	13.59	-24.62
Net Interest Margin (X)	2.08	1.92	1.20	1.06	1.32
Cost To Income (%)	93.79	94.49	95.69	96.86	104.54
Interest Income / Total Assets (%)	4.38	3.84	2.12	2.00	2.90
Non-Interest Income / Total Assets (%)	38.85	46.02	57.93	76.29	107.89
Operating Profit / Total Assets (%)	-36.32	-43.38	-55.38	-74.26	-113.02
Operating Expenses / Total Assets (%)	38.39	45.30	56.59	74.92	114.18
Interest Expenses / Total Assets (%)	2.30	1.92	0.91	0.94	1.58
Enterprise Value (Rs.Cr.)	4148.16	2826.76	2611.84	0.00	0.00
EV Per Net Sales (X)	27.65	29.80	73.31	0.00	0.00
Price To Book Value (X)	3.64	3.07	4.35	0.00	0.00
Price To Sales (X)	15.60	17.87	58.54	0.00	0.00
Retention Ratios (%)	100.00	100.00	100.00	100.00	100.00
Earnings Yield (X)	0.03	0.03	0.02	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 324.72

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 December 22, 2024, is Undervalued by 1.16% compared to the current share price 321.00

Intrinsic Value of as of December 22, 2024 is: 387.03

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 December 22, 2024, is Undervalued by 20.57% compared to the current share price 321.00

Last 5 Year EPS CAGR: 19.19%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

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 :
1. Net Profit Margin: 57.46%
  - 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: 7.14%)
  - 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: 13.99%)
  - 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: 28.6 (Industry average Stock P/E: 14.76)
  - 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

Fino Payments Bank Ltd. is a Public Limited Listed company incorporated on 23/06/2007 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65100MH2007PLC171959 and registration number is 171959. 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. 35.63 Cr. and Equity Capital is Rs. 83.21 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Finance - Banks - Private Sector	Mindspace Juinagar, 8th Floor, Plot No. Gen 2/1/F, Tower 1, New Mumbai Maharashtra 400706	cs@finobank.com http://www.finobank.com

Management
Name	Position Held
Mr. Rajat Kumar Jain	Chairperson & Independent Director
Mr. Rishi Gupta	Managing Director & CEO
Mrs. Anita Sudhir Pai	Independent Director
Mr. Deena Asit Mehta	Independent Director
Mr. Rakesh Bhartia	Independent Director
Mrs. Neeta Mukerji	Independent Director
Mr. Prateek Roongta	Nominee Director
Mr. Pankaj Kumar	Nominee Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹324.72, which is 1.16% higher than the current market price of ₹321.00. The stock has a market capitalization of 2,671 Cr. and recorded a high/low of 467/251 during the current fiscal year 2024-2025. As of Mar 2024, the company has reserves of ₹560 Cr and total liabilities of ₹3,419 Cr.

What is the Market Cap of ?

The Market Cap of is 2,671 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 321.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 467/251.

What is the Stock P/E of ?

The Stock P/E of is 28.6.

What is the Book Value of ?

The Book Value of is 77.3.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 7.07 %.

What is the ROE of ?

The ROE of is 14.4 %.

What is the Face Value of ?

The Face Value of is 10.0.