Indusind Bank: The growth continues - Views on News from Equitymaster

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Indusind Bank: The growth continues

Jul 19, 2000

Indusind Bank has clocked a YoY 36% rise in its net profits in the 1QFY01 to Rs 341 m. Due to less than proportionate increase in the interest expenditure, the bank's operating margins grew to 25.9% in 1QFY01 (22.3% in 1QFY00). Total deposits of the bank grew by 12.6% to Rs 49 bn and aggregate advances increased by 16.6% to Rs 27 bn. During the period the bank has improved its credit to deposit ratio to 55.7% (53.8% in 1QFY00 ). By focussing on the retail side the bank will be able to increase its deposits growth further.

(Rs m) 1QFY00 1QFY01 Change
Interest Income 1,653 1,898 14.8%
Other Income 233 240 3.1%
Interest Expended 1,285 1,406 9.4%
Operating Profit (EBDIT) 368 492 33.8%
Operating Profit Margin (%) 22.3% 25.9%  
Operating Expenses 150 161 7.5%
Depreciation 56 46 -16.7%
Profit before Tax 395 525 32.8%
Provision & Contingencies 145 184 26.9%
Profit after Tax/(Loss) 250 341 36.3%
Net profit margin (%) 15.1% 18.0%  
No. of Shares (eoy) (m) 158.9 159.0  
Diluted number of shares 159.0 159.0  
Diluted Earnings per share* 6.3 8.6  
*(annualised)      

The bank plans to allow other private sector and co-operative banks to utilize its ATM switch (24). This will allow the bank to enter into a cross selling arrangement with these banks in the near future. It will open 50 off-site ATMs and will increase its branch network to 50 (Currently 31) by the end of this financial year. It is also in the verge of launching its mobile banking facility. These new initiative of the bank will enable it to increase its topline growth.

At the current market price of Rs 20, Indusind bank is trading at a PER of 2 times its 1QFY01 annualised earnings. The stock is trading near to its 52 week low. In the past the bank has PER in the range of 8-20 times. The bank's technology improvement move is likely to be reflected in its valuation in the long term.


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2 Responses to "Indusind Bank: The growth continues"

soumendra nath roy

May 5, 2011

Very good stock.

Like 

GS AGGARWAL

Sep 30, 2009

nil

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Equitymaster requests your view! Post a comment on "Indusind Bank: The growth continues". Click here!

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INDUSIND BANK Announces Quarterly Results (4QFY20); Net Profit Down 16.2% (Quarterly Result Update)

Apr 29, 2020 | Updated on Apr 29, 2020

For the quarter ended March 2020, INDUSIND BANK has posted a net profit of Rs 3 bn (down 16.2% YoY). Sales on the other hand came in at Rs 74 bn (up 23.3% YoY). Read on for a complete analysis of INDUSIND BANK's quarterly results.

INDUSIND BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.0% (Quarterly Result Update)

Jan 15, 2020 | Updated on Jan 15, 2020

For the quarter ended December 2019, INDUSIND BANK has posted a net profit of Rs 13 bn (up 32.0% YoY). Sales on the other hand came in at Rs 73 bn (up 26.4% YoY). Read on for a complete analysis of INDUSIND BANK's quarterly results.

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