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Last Updated on: 21 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of South Indian Bank Ltd

Basic Stock Data

Last Updated: June 20, 2024, 10:21 pm

Market Cap 7,464 Cr.
Current Price 28.5
High / Low36.9/16.3
Stock P/E6.97
Book Value 25.5
Dividend Yield1.05 %
ROCE6.47 %
ROE16.0 %
Face Value 1.00
PEG Ratio0.13

Competitors of South Indian Bank Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Jammu & Kashmir Bank Ltd 13,412 Cr. 122152/55.07.54 95.90.41 %6.23 %17.9 % 1.00
Karnataka Bank Ltd 8,576 Cr. 227287/1506.60 2632.21 %6.76 %15.9 % 10.0
IDFC First Bank Ltd 55,203 Cr. 78.0101/70.618.8 39.10.00 %7.79 %11.4 % 10.0
Dhanlaxmi Bank Ltd 1,138 Cr. 44.959.0/16.519.7 38.00.00 %5.53 %6.02 % 10.0
REC Ltd 16,188 Cr. 267301/16413.9 2260.56 %6.80 %8.60 % 10.0
Industry Average142,622.38 Cr414.8716.00182.980.70%7.86%15.35%6.56

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue1,7081,6331,6471,6711,6351,6221,7401,8981,9732,0252,1292,1842,275
Interest1,1471,0911,1191,0981,0381,0181,0141,0731,1161,2171,2981,3651,400
Expenses985979934861591672735629680877777837828
Financing Profit-424-437-407-2886-69-9196177-7053-1847
Financing Margin %-25%-27%-25%-17%0%-4%-0%10%9%-3%3%-1%2%
Other Income435451157222204246255-34345361356452346
Depreciation0000000000000
Profit before tax1114-250-66210177246162523292409435393
Tax %35%27%25%24%-29%35%9%36%36%31%33%30%27%
Net Profit710-187-50272115223103334202275305288
EPS in Rs0.030.04-0.72-0.191.040.440.850.391.280.771.051.171.10
Gross NPA %6.97%8.02%6.65%6.56%5.90%5.87%5.67%5.48%5.14%5.13%4.96%4.74%4.50%
Net NPA %4.71%5.05%3.85%3.52%2.97%2.87%2.51%2.26%1.86%1.85%1.70%1.61%1.46%

Last Updated: June 9, 2024, 6:09 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 26, 2024, 7:09 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Revenue4,4345,0155,2865,5575,8476,1936,8777,7647,3056,5877,2338,613
Interest3,1533,6163,9204,0484,1724,2274,8575,4464,8994,3474,2215,281
Expenses9209941,3961,4501,7252,2392,2963,1363,4673,1062,6293,319
Financing Profit361405-3059-50-274-276-818-1,060-86638313
Financing Margin %8%8%-1%1%-1%-4%-4%-11%-15%-13%5%0%
Other Income3353684975177168377261,0461,2291,0348131,516
Depreciation4045-167656470788384870
Profit before tax65672946851060050038015087841,1081,529
Tax %23%30%34%35%35%33%35%30%29%46%30%30%
Net Profit50250830733339233524810562457751,070
EPS in Rs2.252.271.371.481.741.481.090.460.240.172.964.09
Dividend Payout %19%21%26%20%18%22%18%0%0%0%8%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)1.20%-39.57%8.47%17.72%-14.54%-25.97%-57.66%-40.95%-27.42%1622.22%38.06%
Change in YoY Net Profit Growth (%)0.00%-40.76%48.04%9.25%-32.26%-11.43%-31.69%16.71%13.53%1649.64%-1584.16%

Growth

Compounded Sales Growth
10 Years:5%
5 Years:3%
3 Years:-2%
TTM:21%
Compounded Profit Growth
10 Years:4%
5 Years:18%
3 Years:95%
TTM:57%
Stock Price CAGR
10 Years:3%
5 Years:12%
3 Years:56%
1 Year:94%
Return on Equity
10 Years:6%
5 Years:4%
3 Years:5%
Last Year:12%

Last Updated: April 16, 2024, 6:17 pm

Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Equity Capital113134134135135180181181181209209209
Reserves2,0572,8723,2363,4573,7114,6685,0625,1565,2965,6005,6456,465
Borrowings37,08945,54750,22254,14558,33668,07576,07385,32389,92786,81992,43798,645
Other Liabilities1,1111,2421,3941,3801,2941,3881,3701,6191,6281,5211,7612,378
Total Liabilities40,37049,79554,98659,11663,47574,31282,68692,27997,03394,149100,052107,698
Fixed Assets378396404469467618642677776755752754
CWIP0081020383932244059124
Investments9,40012,52314,35214,08614,74419,43018,36319,08120,62520,32121,44524,642
Other Assets30,59336,87540,22244,55148,24454,22663,64272,48975,60873,03377,79682,178
Total Assets40,37049,79554,98659,11663,47574,31282,68692,27997,03394,149100,052107,698

Reserves and Borrowings Chart

South Indian Bank Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1,8512,6999266871091,9577931,6786565,8085,165-7,261
Cash from Investing Activity -1,590-1,348-1,850-173-1,398-1,842-824-1,175-1,577-1,092-1,741-386
Cash from Financing Activity -86345-194-13716849836498288-138-9893,524
Net Cash Flow1741,695-1,118377-1,121613333602-6334,5782,436-4,123

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow875.00944.00-53.00-57.00-67.00-74.00-83.00-86.00-83.00-89.00-96.003.00

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 %19%16%9%9%9%7%5%2%1%1%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
FIIs7.03%7.01%7.28%7.36%7.45%7.82%14.88%14.58%13.59%15.00%14.68%15.17%
DIIs17.00%16.62%16.62%16.53%16.12%11.64%6.87%7.64%7.84%6.59%7.61%4.61%
Public75.97%76.37%76.10%76.11%76.43%80.54%78.22%77.77%78.57%78.40%77.70%80.20%
No. of Shareholders6,50,8826,51,2366,57,0446,64,1996,61,7076,97,6576,95,0227,09,8777,15,0158,09,6648,88,39711,04,003

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Mahindra Manulife Flexi Cap Fund4,000,0001.1513.881,500,0002024-06-18166.67%
Mahindra Manulife ELSS Tax Saver Fund2,540,0001.138.811,500,0002024-06-1869.33%
Mahindra Manulife Balanced Advantage Fund1,500,0000.775.211,500,0002024-06-180%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22
Face Value1.001.001.00
Basic EPS (Rs.)5.103.700.21
Diluted EPS (Rs.)5.093.700.21
Cash EPS (Rs.)4.094.120.61
Book Value[Excl.RevalReserv]/Share (Rs.)33.7331.8927.97
Book Value[Incl.RevalReserv]/Share (Rs.)33.7331.8927.97
Operating Revenue / Share (Rs.)32.9234.5631.47
Net Profit / Share (Rs.)4.093.700.21
Net Profit After MI / Share (Rs.)4.093.700.21
Net Profit Margin (%)12.4210.710.68
Net Profit After MI And SOA Nargin (%)12.4210.710.68
Operating Profit Margin (%)-5.15-0.49-15.01
Return On Assets (%)0.910.710.04
Return On Equity / Networth (%)12.1211.610.76
Net Interest Margin (X)2.832.792.23
Cost To Income (%)37.2837.8942.37
Interest Income / Total Assets (%)7.336.716.58
Non-Interest Income / Total Assets (%)1.280.751.03
Operating Profit / Total Assets (%)-0.37-0.03-0.98
Operating Expenses / Total Assets (%)2.532.152.02
Interest Expenses / Total Assets (%)4.493.914.34
Enterprise Value (Rs.Cr.)106310.2997064.2990333.37
EV Per Net Sales (X)12.3413.4213.71
Price To Book Value (X)0.800.450.26
Price To Sales (X)0.820.420.23
Retention Ratios (%)100.00100.00100.00
Earnings Yield (X)0.140.250.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 28.74

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.

Undervalued: 0.83% compared to the current price 28.5

Intrinsic Value: 44.49

Calculation basis:

  • Fair 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 fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 56.09% compared to the current price ₹28.5

Last 5 Year EPS CAGR: 54.81%

*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 South Indian Bank Ltd:
    1. Net Profit Margin: 12.42%
      • 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: N/A% (Industry Average ROCE: %)
      • 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%: N/A% (Industry Average ROE: %)
      • 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): N/A
      • 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: N/A
      • 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: 6.97 (Industry average Stock P/E: )
      • 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: N/A
      • 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

South Indian Bank Ltd. is a Public Limited Listed company incorporated on 25/01/1929 and has its registered office in the State of Kerala, India. Company’s Corporate Identification Number(CIN) is L65191KL1929PLC001017 and registration number is 001017. 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. 6586.54 Cr. and Equity Capital is Rs. 209.27 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private SectorSIB House, T B Road, Thrisoor Kerala 680001ho2006@sib.co.in
http://www.southindianbank.com
Management
NamePosition Held
Mr. V J KurianPart Time Chairman & Independent Director
Mr. P R SeshadriManaging Director & CEO
Mr. Paul AntonyNon Executive Director
Mr. Benny P ThomasNon Executive Director
Mr. M George KorahIndependent Director
Mr. Pradeep M GodboleIndependent Director
Mr. R A Sankara NarayananIndependent Director
Mrs. Lakshmi Ramakrishna SrinivasIndependent Director

FAQ

What is the latest fair value of South Indian Bank Ltd?

The latest fair value of South Indian Bank Ltd is ₹28.74.

What is the Market Cap of South Indian Bank Ltd?

The Market Cap of South Indian Bank Ltd is 7,464 Cr..

What is the current Stock Price of South Indian Bank Ltd as on 21 June 2024?

The current stock price of South Indian Bank Ltd as on 21 June 2024 is ₹28.5.

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

In FY 2024, the High / Low of South Indian Bank Ltd stocks is 36.9/16.3.

What is the Stock P/E of South Indian Bank Ltd?

The Stock P/E of South Indian Bank Ltd is 6.97.

What is the Book Value of South Indian Bank Ltd?

The Book Value of South Indian Bank Ltd is 25.5.

What is the Dividend Yield of South Indian Bank Ltd?

The Dividend Yield of South Indian Bank Ltd is 1.05 %.

What is the ROCE of South Indian Bank Ltd?

The ROCE of South Indian Bank Ltd is 6.47 %.

What is the ROE of South Indian Bank Ltd?

The ROE of South Indian Bank Ltd is 16.0 %.

What is the Face Value of South Indian Bank Ltd?

The Face Value of South Indian Bank Ltd is 1.00.

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 South Indian 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