IndusInd Bank Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹549.55Overvalued by 39.74%vs CMP ₹912.00

P/E (56.7) × ROE (1.4%) × BV (₹840.00) × DY (0.16%)

₹457.94Overvalued by 49.79%vs CMP ₹912.00

MoS: -99.2% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹226.50	26%	Over (-75.2%)
Graham Number	Earnings	₹800.68	19%	Over (-12.2%)
Earnings Power	Earnings	₹733.98	13%	Over (-19.5%)
DCF	Cash Flow	₹334.71	16%	Over (-63.3%)
Net Asset Value	Assets	₹840.34	8%	Fair (-7.9%)
EV/EBITDA	Enterprise	₹62.28	10%	Over (-93.2%)
Earnings Yield	Earnings	₹339.20	8%	Over (-62.8%)
Consensus (7 models)		₹457.94	100%	Overvalued

Key Drivers: EPS CAGR -58.8% drags value — could be higher if earnings stabilize. | ROE 1.4% 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: -58.8%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 25 September 2026, 8:42 pm +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹48,668.00 Cr, versus ₹45,748.00 Cr in Mar 2024 (6.4% year on year). Net profit for Mar 2025 was ₹2,643.00 Cr, versus ₹8,950.00 Cr in Mar 2024 (-70.5% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹18,113.00 Cr against net profit of ₹2,643.00 Cr. Cash flow covered 6.85 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years. For financial businesses, lending and investment movements can dominate operating cash flow; also examine asset quality, capital adequacy and the business mix.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

IndusInd Bank Ltd scores 39/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health45/100 · Moderate

ROCE 5.7% WeakROE 1.4% WeakDebt/equity Not availableInterest Coverage Not availableProfitable 5/5 available years Reported history

Smart Money45/100 · Moderate

FII holding down -5.15% (6mo) SellingDII holding up 10.29% MF buyingPromoter holding at 15.8% Stable

Earnings Quality35/100 · Weak

CFO/NP ratio: -0.59x Poor cash conversion

Quarterly Momentum40/100 · Moderate

Profit (4Q): -125% YoY Declining

Industry Rank30/100 · Weak

P/E 56.7 vs industry 20.2 Premium to peersROCE 5.7% vs industry 6.4% AverageROE 1.4% vs industry 10.0% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 25, 2026, 8:42 pm

Market Cap	71,020 Cr.
Current Price	912
Intrinsic Value	₹458.46
High / Low	1,078/711
Stock P/E	56.7
Book Value	840
Dividend Yield	0.16 %
ROCE	5.69 %
ROE	1.44 %
Face Value	10.0
PEG Ratio	-0.96

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for IndusInd Bank Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
IndusInd Bank Ltd	71,020 Cr.	912	1,078/711	56.7	840	0.16 %	5.69 %	1.44 %	10.0
Yes Bank Ltd	70,624 Cr.	22.5	25.8/17.2	18.7	16.7	0.00 %	5.98 %	7.10 %	2.00
IDFC First Bank Ltd	72,259 Cr.	83.8	89.6/58.1	31.4	56.2	0.30 %	5.98 %	3.76 %	10.0
REC Ltd	64,597 Cr.	415	430/262	73.8	269	0.24 %	5.77 %	5.11 %	10.0
Federal Bank Ltd	79,739 Cr.	322	372/189	17.0	162	0.37 %	6.39 %	11.6 %	2.00
Industry Average	147,510.04 Cr	342.66		20.24	225.50	0.56%	6.43%	10.01%	6.30

All Competitor Stocks of IndusInd Bank Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	9,457	10,021	10,730	11,248	11,572	12,199	12,547	12,686	12,801	10,634	12,264	11,609	11,373
Interest	4,962	5,351	5,863	6,171	6,277	6,822	7,139	7,339	7,573	7,586	7,624	7,199	6,811
Expenses	3,956	4,097	4,238	4,451	4,623	4,749	4,972	5,759	5,723	6,646	5,882	6,652	6,050
Financing Profit	539	572	629	625	672	628	436	-412	-495	-3,598	-1,242	-2,242	-1,488
Financing Margin %	6%	6%	6%	6%	6%	5%	3%	-3%	-4%	-34%	-10%	-19%	-13%
Other Income	2,076	2,151	2,210	2,282	2,396	2,500	2,441	2,184	2,350	709	2,156	1,648	1,707
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	2,616	2,723	2,838	2,907	3,068	3,128	2,877	1,772	1,855	-2,889	914	-594	218
Tax %	25%	25%	25%	25%	25%	25%	25%	25%	24%	-23%	25%	-25%	26%
Net Profit	1,959	2,041	2,124	2,181	2,298	2,347	2,152	1,325	1,401	-2,236	684	-445	161
EPS in Rs	25.27	26.30	27.37	28.07	29.55	30.15	27.64	17.01	17.99	-28.70	8.78	-5.71	2.07
Gross NPA %	2.06%	1.98%	1.94%	1.93%	1.92%	1.92%	2.02%	2.11%	2.25%	3.13%	3.64%	3.60%	3.56%
Net NPA %	0.62%	0.59%	0.58%	0.57%	0.57%	0.57%	0.60%	0.64%	0.68%	0.95%	1.12%	1.04%	1.04%

Last Updated: February 5, 2026, 1:08 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 1:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	8,254	9,692	11,872	14,406	17,281	22,261	28,783	29,000	30,822	36,368	45,748	48,668	45,879
Interest	5,363	6,272	7,355	8,343	9,783	13,415	16,724	15,472	15,822	18,776	25,132	29,636	29,220
Expenses	2,555	3,133	4,188	5,684	6,555	9,283	12,611	15,997	15,840	15,525	17,638	22,616	25,230
Financing Profit	335	288	329	379	942	-437	-553	-2,469	-839	2,067	2,978	-3,584	-8,570
Financing Margin %	4%	3%	3%	3%	5%	-2%	-2%	-9%	-3%	6%	7%	-7%	-19%
Other Income	1,891	2,548	3,297	4,171	4,750	5,647	6,951	6,559	7,334	8,166	9,388	7,684	6,220
Depreciation	98	127	157	191	212	229	278	305	321	373	425	485	0
Profit before tax	2,128	2,709	3,469	4,360	5,481	4,981	6,121	3,784	6,174	9,860	11,942	3,615	-2,351
Tax %	34%	34%	34%	34%	34%	34%	28%	25%	25%	25%	25%	27%
Net Profit	1,408	1,794	2,286	2,868	3,606	3,301	4,418	2,836	4,611	7,390	8,950	2,643	-1,835
EPS in Rs	26.80	33.88	38.43	47.95	60.08	54.77	63.70	36.68	59.52	95.24	114.99	33.92	-23.56
Dividend Payout %	13%	12%	12%	13%	12%	14%	0%	14%	14%	15%	14%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	27.41%	27.42%	25.46%	25.73%	-8.46%	33.84%	-35.81%	62.59%	60.27%	21.11%	-70.47%
Change in YoY Net Profit Growth (%)	0.00%	0.01%	-1.97%	0.27%	-34.19%	42.30%	-69.65%	98.40%	-2.32%	-39.16%	-91.58%

IndusInd Bank Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	18%
5 Years:	11%
3 Years:	16%
TTM:	2%

Compounded Profit Growth
10 Years:	4%
5 Years:	-10%
3 Years:	-17%
TTM:	-87%

Stock Price CAGR
10 Years:	-1%
5 Years:	4%
3 Years:	-12%
1 Year:	-47%

Return on Equity
10 Years:	12%
5 Years:	10%
3 Years:	11%
Last Year:	4%

Last Updated: September 5, 2025, 7:35 am

Balance Sheet

Last Updated: September 9, 2026, 3:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	529	595	598	600	603	694	773	775	776	778	779	779
Reserves	10,115	17,101	20,048	23,241	26,083	34,013	42,592	46,923	53,846	62,019	63,714	64,661
Deposits	75,478	93,000	127,572	151,639	194,868	202,040	256,205	293,681	336,438	384,793	411,078	400,174
Borrowing	19,274	24,996	21,454	38,289	47,321	60,754	51,323	47,323	49,011	47,611	53,704	42,789
Other Liabilities	6,390	7,205	8,976	7,856	8,944	9,558	12,080	13,273	17,733	19,734	24,744	35,016
Total Liabilities	111,787	142,897	178,648	221,626	277,819	307,058	362,973	401,975	457,804	514,935	554,018	543,419
Fixed Assets	1,120	1,218	1,307	1,313	1,688	1,742	1,734	1,754	1,857	2,001	2,168	2,312
CWIP	38	37	28	25	22	78	75	95	135	197	188	126
Investments	22,878	34,054	36,702	50,077	59,266	59,980	69,695	70,971	83,116	106,527	114,497	125,047
Other Assets	87,751	107,587	140,611	170,211	216,843	245,257	291,469	329,155	372,695	406,211	437,166	415,934
Total Assets	111,787	142,897	178,648	221,626	277,819	307,058	362,973	401,975	457,804	514,935	554,018	543,419

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	-1,421	-2,927	11,569	-20,700	-6,389	-12,039	44,646	16,600	-12,438	-16,843	18,113	1,045
Cash from Investing Activity +	-276	-258	-285	-217	-633	526	-226	-351	-441	-625	-624	-510
Cash from Financing Activity +	5,707	2,517	-2,768	15,505	8,590	12,733	-4,096	-4,302	1,115	-2,242	4,876	-10,912
Net Cash Flow	4,010	-667	8,516	-5,412	1,568	1,220	40,324	11,947	-11,763	-19,710	22,364	-10,376
Free Cash Flow	-1,697	-3,184	11,296	-20,920	-7,027	-12,438	44,352	16,239	-12,958	-17,476	17,465	426
CFO/OP	-5%	-21%	154%	-175%	-31%	-62%	349%	125%	-54%	-49%	81%	5%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	-1,697.00	-3,184.00	11,296.00	-20,920.00	-7,027.00	-12,438.00	44,352.00	16,239.00	-12,958.00	-17,476.00	17,465.00	426.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
ROE %	17%	18%	16%	15%	16%	13%	14%	7%	10%	14%	15%	4%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	16.47%	16.45%	16.40%	16.38%	16.36%	16.29%	15.83%	15.82%	15.82%	15.82%	15.82%	15.82%
FIIs	41.48%	42.47%	40.25%	38.40%	34.11%	24.74%	29.53%	33.68%	34.32%	31.60%	28.57%	29.17%
DIIs	28.17%	26.21%	28.09%	29.69%	34.60%	42.43%	36.32%	33.18%	31.57%	35.00%	40.13%	41.86%
Government	0.37%	0.36%	0.37%	0.37%	0.37%	0.39%	0.38%	0.38%	0.38%	0.38%	0.38%	0.38%
Public	13.50%	14.52%	14.90%	15.16%	14.56%	16.16%	17.94%	16.92%	17.91%	17.20%	15.10%	12.76%
No. of Shareholders	3,60,027	3,59,688	3,98,181	4,17,359	4,39,052	6,39,709	7,71,743	6,95,674	7,01,711	6,49,084	6,01,056	5,68,147

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Mirae Asset Large & Midcap Fund	10,471,053	2.22	938.31	10,136,035	2026-02-23 01:20:47	3.31%
ICICI Prudential Multi Asset Fund	9,858,275	1.09	883.4	9,258,275	2025-12-15 01:28:01	6.48%
Kotak Multicap Fund	9,432,727	3.72	845.27	6,682,727	2026-02-23 01:32:30	41.15%
HDFC Mid Cap Fund	9,226,037	0.9	826.75	N/A	N/A	N/A
ICICI Prudential Large & Mid Cap Fund	9,000,000	2.94	806.49	9,114,259	2026-02-23 02:57:17	-1.25%
HDFC Balanced Advantage Fund	6,708,756	0.56	601.17	N/A	N/A	N/A
Mirae Asset ELSS Tax Saver Fund	6,431,996	2.21	576.37	5,901,132	2026-01-26 02:32:54	9%
HDFC Large Cap Fund	6,178,140	1.4	553.62	N/A	N/A	N/A
Mirae Asset Midcap Fund	5,971,045	3.03	535.07	5,767,456	2026-02-23 02:57:17	3.53%
Kotak Flexicap Fund	5,000,000	0.79	448.05	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
Face Value	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	33.07	115.54	96.01	62.07	40.03
Diluted EPS (Rs.)	33.05	115.33	95.89	61.97	39.96
Cash EPS (Rs.)	39.89	121.29	101.18	66.57	42.12
Book Value[Excl.RevalReserv]/Share (Rs.)	828.52	808.30	705.03	615.99	558.42
Book Value[Incl.RevalReserv]/Share (Rs.)	832.24	812.10	708.92	619.96	562.48
Operating Revenue / Share (Rs.)	624.70	587.78	468.72	397.88	374.98
Net Profit / Share (Rs.)	33.06	115.34	95.93	62.02	37.88
Net Profit After MI / Share (Rs.)	33.06	115.34	95.93	62.03	37.89
Net Profit Margin (%)	5.29	19.62	20.46	15.58	10.10
Net Profit After MI And SOA Nargin (%)	5.29	19.62	20.46	15.58	10.10
Operating Profit Margin (%)	9.63	29.91	28.88	21.44	14.62
Return On Assets (%)	0.46	1.74	1.62	1.19	0.80
Return On Equity / Networth (%)	3.99	14.26	13.60	10.06	6.78
Net Interest Margin (X)	3.43	4.00	3.84	3.73	3.72
Cost To Income (%)	60.10	47.14	44.03	41.54	40.72
Interest Income / Total Assets (%)	8.78	8.88	7.94	7.66	7.99
Non-Interest Income / Total Assets (%)	1.38	1.82	1.78	1.84	1.79
Operating Profit / Total Assets (%)	-0.92	-0.08	-0.15	-0.64	-0.98
Operating Expenses / Total Assets (%)	2.89	2.74	2.47	2.31	2.24
Interest Expenses / Total Assets (%)	5.34	4.87	4.10	3.93	4.26
Enterprise Value (Rs.Cr.)	464163.30	534719.81	425033.84	397413.26	363015.24
EV Per Net Sales (X)	9.54	11.69	11.69	12.89	12.52
Price To Book Value (X)	0.78	1.92	1.51	1.52	1.71
Price To Sales (X)	1.04	2.65	2.28	2.35	2.54
Retention Ratios (%)	100.00	87.89	91.14	91.94	100.00
Earnings Yield (X)	0.05	0.07	0.08	0.06	0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

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

IndusInd Bank Ltd: the stored intrinsic value estimate is ₹457.94, compared with a stored share price of ₹912.00. The model value is 49.8% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for IndusInd Bank Ltd?

The stored share price is ₹912.00. Price-data record updated: 25 September 2026, 8:42 pm +05:30. This is not a live quote. The stored 52-week high / low is 1,078/711; this is a rolling range, not a financial-year range.

How have IndusInd Bank Ltd's revenue and profit changed?

Does IndusInd Bank Ltd's profit convert into cash?

How should I compare IndusInd Bank Ltd's P/E with other stocks?

The stored P/E is 56.70. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change IndusInd Bank Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.