Indbank Merchant Banking Services Limited (INDBANK) AI Stock Analysis

• Market Cap: ₹1.77B
• Dividend Yield: N/A
• Average Volume (3M): 28.40K
• Price to Earnings (P/E): 28.1
• Beta (1Y): 1.29
• Revenue Growth: -18.35%
• EPS Growth: -43.75%
• Country: IN
• Employees: 92
• Sector: Services
• Sector Strength: N/A
• Industry: Financial - Capital Markets
• EPS (TTM): 0.42
• Shares Outstanding: 44,378,200
• 10 Day Avg. Volume: 71,528
• 30 Day Avg. Volume: 28,403
• PEG Ratio: -2.58
• Price to Book (P/B): 1.41
• Price to Sales (P/S): 4.82
• P/FCF Ratio: -742.23
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: ₹46.00 ▲(25.20% Upside)

Indbank's strong financial performance, characterized by robust revenue growth and efficient profitability margins, is a key strength. The technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The valuation is moderate, with a P/E ratio suggesting fair pricing, but the lack of a dividend yield may be a drawback for some investors.

Positive Factors

Balance Sheet Health

A strong balance sheet with minimal leverage enhances financial stability, providing flexibility for future investments and growth opportunities.

Profitability Margins

Stable and improving profitability margins indicate effective cost management, which supports long-term financial health and shareholder value.

Cash Generation Ability

Strong cash generation ability supports operational needs and strategic investments, contributing to sustainable business growth.

Negative Factors

Negative Free Cash Flow

Negative free cash flow can limit the company's ability to invest in growth opportunities and may indicate inefficiencies in capital management.

Revenue Decline

A decline in revenue growth can signal weakening market position or demand, potentially impacting long-term profitability and market competitiveness.

Earnings Decline

A significant decline in EPS growth suggests challenges in maintaining profitability, which could affect investor confidence and future earnings potential.

Indbank Merchant Banking Services Limited Business Overview & Revenue Model

Company Description

Indbank Merchant Banking Services Limited (INDBANK) is a prominent financial services provider in India, specializing in merchant banking and investment advisory. The company operates primarily in the financial sector, offering a range of services including corporate advisory, stock broking, and portfolio management. INDBANK focuses on delivering tailored solutions to its clients, which include corporations, institutions, and high-net-worth individuals, facilitating capital raising, mergers and acquisitions, and strategic financial planning.

How the Company Makes Money

Indbank generates revenue through various channels including advisory fees from corporate finance transactions, commissions from stock broking activities, and management fees from portfolio management services. The company also earns income from underwriting services, where it assists clients in raising capital through equity or debt offerings. Additionally, Indbank's investment in mutual funds and other financial instruments contributes to its earnings. Strategic partnerships with financial institutions and corporations enhance its service offerings and create additional revenue opportunities, while a robust client base ensures a steady flow of business.

Indbank Merchant Banking Services Limited Financial Statement Overview

Summary

Indbank showcases strong financial health with robust revenue growth, efficient profitability margins, and a solid balance sheet with minimal leverage. However, the negative free cash flow in recent periods highlights potential areas for improvement in cash management.

Income Statement

Indbank exhibited solid revenue growth with a notable increase in total revenue from previous years. The gross profit margin remained stable, while the net profit margin showed improvement due to effective cost management. The EBIT and EBITDA margins also reflected operational efficiency. Overall, the company demonstrated strong profitability trends.

Balance Sheet

The balance sheet is robust with a very low debt-to-equity ratio, indicating minimal leverage and strong equity position. The return on equity has been healthy, reflecting efficient utilization of shareholder funds. The equity ratio shows a solid equity base relative to total assets, enhancing financial stability.

Cash Flow

Cash flow performance showed some volatility with negative free cash flow in the most recent period, despite positive operating cash flow. The operating cash flow to net income ratio indicated good cash generation capability. However, the negative free cash flow trend raises concerns about capital management and investment efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	183.64M	209.53M	195.66M	159.06M	176.31M	120.12M
Gross Profit	108.73M	106.94M	100.03M	81.11M	107.44M	64.19M
EBITDA	93.39M	121.89M	121.03M	63.45M	102.84M	65.69M
Net Income	63.06M	84.63M	89.99M	35.02M	69.64M	40.59M
Balance Sheet
Total Assets	1.17B	1.18B	1.06B	973.82M	946.95M	841.86M
Cash, Cash Equivalents and Short-Term Investments	841.88M	818.68M	629.83M	333.75M	162.01M	217.70M
Total Debt	30.56M	124.00K	0.00	27.85M	0.00	0.00
Total Liabilities	212.35M	264.38M	229.70M	228.77M	235.63M	199.05M
Stockholders Equity	955.56M	916.52M	833.69M	745.05M	711.32M	642.81M
Cash Flow
Free Cash Flow	0.00	-1.74M	-13.19M	-618.00K	127.08M	58.64M
Operating Cash Flow	0.00	755.00K	-11.57M	304.00K	5.55M	81.43M
Investing Cash Flow	0.00	5.62M	-1.75M	-10.29M	-9.76M	-84.36M
Financing Cash Flow	0.00	-1.22M	-713.00K	-8.89M	-15.04M	-15.11M

Indbank Merchant Banking Services Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 36.74
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDBANK, the sentiment is Neutral. The current price of 36.74 is below the 20-day moving average (MA) of 37.89, below the 50-day MA of 37.84, and above the 200-day MA of 34.39, indicating a neutral trend. The MACD of -0.55 indicates Positive momentum. The RSI at 43.83 is Neutral, neither overbought nor oversold. The STOCH value of 34.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:INDBANK.

Indbank Merchant Banking Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDBANK	72 Outperform	₹1.77B	28.07	―	―	-18.35%	-43.75%
SECMARK	66 Neutral	₹1.24B	31.89	―	―	28.58%	68.42%
BRNL	58 Neutral	₹2.08B	1.16	―	―	-57.13%	―
DHRUV	58 Neutral	₹986.26M	12.40	―	0.41%	-9.83%	-5.90%
RKEC	57 Neutral	₹1.60B	8.84	―	―	-12.26%	-36.87%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Indbank Merchant Banking Services Limited Corporate Events

Indbank Releases Financial Results for September 2025

Indbank Merchant Banking Services Limited announced the publication of its financial results for the quarter and year ending September 30, 2025, in prominent newspapers. This disclosure is part of the company’s commitment to transparency and regulatory compliance, potentially impacting its market perception and stakeholder confidence.

Indbank Merchant Banking Services Faces Stock Price Inquiry

Indbank Merchant Banking Services Limited has experienced a significant movement in its stock price, prompting the Exchange to seek clarification from the company. This action aims to ensure investors are well-informed and their interests are protected, though the company’s response is still pending.