Indbank Merchant

  • Market Cap: Micro Cap
  • Industry: Capital Markets
  • ISIN: INE841B01017
  • NSEID: INDBANK
  • BSEID: 511473
INR
33.93
-1.48 (-4.18%)
BSENSE

Jul 08, 03:30 PM

BSE+NSE Vol: 1.14 lacs

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

1.14 lacs (-34.86%) Volume

Shareholding (Mar 2026)

FII

0.00%

Held by 1 FIIs

DII

0.09%

Held by 0 DIIs

Promoter

64.84%

Should I buy, sell or hold Indbank Merchant Banking Services Ltd?

08-Jul-2026

Why is Indbank Merchant Banking Services Ltd falling/rising?

07-Jul-2026

As of 07-Jul, Indbank Merchant Banking Services Ltd's stock price is rising to 35.41, reflecting a 2.52% increase. This growth is driven by strong investor participation and outperformance against the Sensex over various time frames, despite a slight underperformance in its sector today.

As of 07-Jul, Indbank Merchant Banking Services Ltd's stock price is rising, currently at 35.41, with a change of 0.87, representing a 2.52% increase. This upward movement can be attributed to several factors. Over the past week, the stock has outperformed the benchmark Sensex, gaining 5.83% compared to the Sensex's 2.23%. Additionally, the stock has shown a significant increase in investor participation, with a delivery volume of 73.34k on July 6, which is up by 283.05% against the 5-day average delivery volume. <BR><BR>While the stock is currently underperforming its sector by 1.63% today, it maintains higher prices than its 5-day, 20-day, 50-day, and 100-day moving averages, indicating a generally positive trend in the short to medium term. Furthermore, the stock has demonstrated strong performance over longer periods, with a 27.74% increase over the last three years and a 62.43% increase over the last five years, both outperforming the Sensex during the same periods. These factors collectively contribute to the stock's rising price.

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How big is Indbank Merchant?

11-Jun-2026

As of 10th June, Indbank Merchant Banking Services Ltd has a market capitalization of 147.00 Cr, with Net Sales of 25.11 Cr and a Net Profit of 7.13 Cr reported in the latest four quarters. Shareholder's Funds are valued at 91.65 Cr, and Total Assets amount to 116.45 Cr.

As of 10th June, Indbank Merchant Banking Services Ltd has a market capitalization of 147.00 Cr, categorizing it as a Micro Cap company.<BR><BR>In the latest four quarters, the company reported Net Sales of 25.11 Cr and a Net Profit of 7.13 Cr.<BR><BR>For the latest annual period ending in March 2025, Shareholder's Funds were valued at 91.65 Cr, while Total Assets amounted to 116.45 Cr.

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Who are in the management team of Indbank Merchant?

11-Jun-2026

The management team of Indbank Merchant includes G R Sundaravadivel, Chitra Murali, Vaijinath Gavarshetty, Satish Kumar Kalra (all Independent Directors), Imran Amin Siddiqui and Sunil Jain (Non-Executive Directors/Nominees), and V. Hari Babu (President & Whole-time Director).

The management team of Indbank Merchant includes the following members:<BR><BR>1. **G R Sundaravadivel** - Independent Director<BR>2. **Chitra Murali** - Independent Director<BR>3. **Vaijinath Gavarshetty** - Independent Director<BR>4. **Satish Kumar Kalra** - Independent Director<BR>5. **Imran Amin Siddiqui** - Non-Executive Director / Nominee<BR>6. **V. Hari Babu** - President & Whole-time Director<BR>7. **Sunil Jain** - Non-Executive Director / Nominee<BR><BR>If you need more details about their roles or the company, feel free to ask!

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Who are the peers of the Indbank Merchant?

11-Jun-2026

Indbank Merchant's peers include Quest Capital, IL&FS Inv. Manag., Shardul Sec., Almondz Global, Rikhav Securitie, LKP Securities, Dharni Capital, Swastika Investm, and Munoth Capital. Dharni Capital leads in 1-year returns at 21.68%, while Indbank Merchant has a return of -9.59%.

Peers: The peers of Indbank Merchant are Quest Capital, IL&FS Inv.Manag., Shardul Sec., Almondz Global, Rikhav Securitie, LKP Securities, Dharni Capital, Swastika Investm, and Munoth Capital.<BR><BR>Quality Snapshot: Excellent management risk is observed at Dharni Capital, while Average management risk is found at LKP Securities and Swastika Investm, and the rest have Below Average management risk. Growth is rated as Good at Almondz Global and Dharni Capital, Average at IL&FS Inv.Manag. and Rikhav Securitie, and Below Average at Quest Capital, Shardul Sec., Indbank Merchant, LKP Securities, and Swastika Investm. All peers have an Excellent capital structure.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Dharni Capital at 21.68%, while the peer with the lowest is Almondz Global at -37.41%. Indbank Merchant's 1-year return is -9.59%, which is better than Almondz Global but worse than Dharni Capital. Additionally, Quest Capital, Shardul Sec., Almondz Global, Rikhav Securitie, LKP Securities, Swastika Investm, and Munoth Capital all have negative six-month returns.

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What does Indbank Merchant do?

10-Jun-2026

Indbank Merchant Banking Services Ltd, a micro-cap company and subsidiary of Indian Bank, offers merchant banking, stock broking, and depository services. As of March 2026, it reported net sales of 6 Cr and a net profit of 1 Cr, with a market cap of INR 147 Cr.

Overview:<BR>Indbank Merchant Banking Services Ltd operates in the capital markets industry as a micro-cap company, providing services in merchant banking, stock broking, and depository participation.<BR><BR>History:<BR>Incorporated in August 1989 as a subsidiary of Indian Bank, Indbank became the first and only public sector merchant banking subsidiary in India to go public. The latest quarterly results reported net sales and net profit for March 2026.<BR><BR>Financial Snapshot:<BR>Net Sales: 6 Cr (Quarterly Results - Mar 2026) <BR>Net Profit: 1 Cr (Quarterly Results - Mar 2026) <BR>Market Cap: INR 147 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 21.00 <BR>Industry P/E: 20 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 0.03 <BR>Return on Equity: 7.39% <BR>Price to Book: 1.56 <BR><BR>Contact Details:<BR>Address: Khivraj Complex 1 1st Floor, 480 Anna Salai Nandanam Chennai Tamil Nadu : 600035 <BR>Tel: 91-44-24313094-97 <BR>Email: investors@indbankonline.com <BR>Website: http://www.indbankonline.com

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When is the next results date for Indbank Merchant Banking Services Ltd?

16-Apr-2026

The next results date for Indbank Merchant Banking Services Ltd is April 20, 2026.

The next results date for Indbank Merchant Banking Services Ltd is scheduled for April 20, 2026.

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Are Indbank Merchant Banking Services Ltd latest results good or bad?

14-Jan-2026

Indbank Merchant Banking Services Ltd's latest results show a net profit increase of 64.10% year-on-year, but revenue declined slightly from the previous quarter, and operating margins have contracted significantly. Overall, while profit growth is positive, the company faces operational challenges that investors should consider.

Indbank Merchant Banking Services Ltd's latest results present a mixed picture. On the positive side, the company reported a net profit of ₹1.92 crore for Q3 FY26, which reflects a significant year-on-year increase of 64.10%. Additionally, revenue grew by 11.01% compared to the same quarter last year, reaching ₹6.25 crores.<BR><BR>However, there are concerning aspects as well. The company's revenue showed a slight sequential decline of 0.48% from the previous quarter, indicating potential demand challenges. More critically, the operating margin has contracted sharply to 42.56% from 55.47% in the same quarter last year, which highlights increased competitive pressures and rising costs.<BR><BR>Overall, while the net profit growth is commendable, the decline in revenue and operating margin compression suggest that the company is facing significant operational challenges. Investors may want to weigh these factors carefully when assessing the company's performance.

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How has been the historical performance of Indbank Merchant?

04-Dec-2025

Indbank Merchant has shown consistent growth in net sales and profitability, with net sales increasing from 8.12 crore in March 2019 to 26.78 crore in March 2025, and profit after tax rising from 1.77 crore to 8.46 crore in the same period. The company's total assets also grew significantly, reaching 116.45 crore by March 2025.

Answer:<BR>The historical performance of Indbank Merchant shows a steady increase in net sales and profitability over the years.<BR><BR>Breakdown:<BR>Indbank Merchant's net sales have shown a consistent upward trend, increasing from 8.12 crore in March 2019 to 26.78 crore in March 2025. The total operating income followed a similar pattern, reaching 26.78 crore in March 2025, up from 24.92 crore in March 2024 and 18.28 crore in March 2023. Operating profit (PBDIT) has also improved significantly, with a value of 11.94 crore in March 2025 compared to just 1.97 crore in March 2019. The profit before tax reached 11.50 crore in March 2025, reflecting a strong growth from 1.81 crore in March 2019. Profit after tax has increased to 8.46 crore in March 2025 from 1.77 crore in March 2019. The company's total assets rose to 116.45 crore in March 2025, up from 70.28 crore in March 2020, while total liabilities increased to 116.45 crore in March 2025 from 70.28 crore in March 2020. Cash and cash equivalents improved to 1.00 crore in March 2025, indicating a recovery from previous years. Overall, Indbank Merchant has demonstrated significant growth in sales, profits, and asset base over the years.

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Is Indbank Merchant overvalued or undervalued?

14-Nov-2025

As of November 13, 2025, Indbank Merchant is fairly valued with a PE ratio of 26.25, lower than Bajaj Finance's 34.18, and despite a year-to-date return of -19.41% compared to the Sensex's 8.11%, its long-term performance of 371.81% over ten years suggests potential for recovery and growth.

As of 13 November 2025, the valuation grade for Indbank Merchant has moved from expensive to fair. Based on the analysis, the company appears to be fairly valued at this time. Key ratios include a PE ratio of 26.25, an EV to EBIT of 9.21, and a ROCE of 73.02%. <BR><BR>In comparison with peers, Indbank Merchant's PE ratio is significantly lower than Bajaj Finance, which stands at 34.18, indicating that Indbank may offer better value relative to its earnings. Additionally, Life Insurance, which is rated very attractive, has a much lower PE of 11.18, suggesting that Indbank is competitively positioned within the capital markets sector. Despite recent underperformance against the Sensex, with a year-to-date return of -19.41% compared to the Sensex's 8.11%, the long-term performance of 371.81% over ten years highlights the potential for recovery and growth.

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Who are the top shareholders of the Indbank Merchant?

17-Jul-2025

The top shareholder of Indbank Merchant is Indian Bank, holding 64.84% of the shares, followed by individual investors with 29.48%. Mutual funds and a foreign institutional investor hold minor stakes of 0.09% and 0.03%, respectively.

The top shareholders of Indbank Merchant are primarily the promoters, with Indian Bank holding the largest share at 64.84%. There are no pledged promoter holdings, and individual investors collectively hold 29.48% of the shares. Additionally, mutual funds have a minor stake through five schemes, accounting for 0.09%, and there is one foreign institutional investor (FII) with a 0.03% holding. There are no significant public shareholders listed.

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What is the technical trend for Indbank Merchant?

09-Jun-2025

As of June 5, 2025, Indbank Merchant's technical trend is neutral with mixed signals, showing a sideways movement due to conflicting indicators across weekly and monthly charts.

As of 5 June 2025, the technical trend for Indbank Merchant has changed from mildly bearish to sideways. The current stance is neutral, with mixed signals across different indicators. The weekly MACD is mildly bullish, while the monthly MACD is mildly bearish. The Bollinger Bands indicate a bullish trend on the weekly chart but are mildly bearish on the monthly. Moving averages on the daily chart show a mildly bearish trend. The KST is mildly bullish weekly but bearish monthly, and the Dow Theory shows a mildly bullish stance on the weekly but no trend on the monthly. The OBV is bullish for both weekly and monthly periods. Overall, the mixed indicators suggest a sideways movement with no strong directional bias at this time.

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Has Indbank Merchant declared dividend?

06-Jun-2025

Indbank Merchant Banking Services Ltd has declared an 8% dividend, amounting to 0.8000 per share, with an ex-date of August 7, 2009. However, the dividend yield is 0%, and while total returns show significant growth over longer periods, the dividend has not contributed to returns recently.

Indbank Merchant Banking Services Ltd has declared an 8% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 8%<BR>- Amount per share: 0.8000<BR>- Ex-date: 07 Aug 09<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was -25.85%, the dividend return was 0%, resulting in a total return of -25.85%.<BR><BR>In the 1-year period, the price return was -22.65%, the dividend return was 0%, resulting in a total return of -22.65%.<BR><BR>In the 2-year period, the price return was 39.6%, the dividend return was 0%, resulting in a total return of 39.6%.<BR><BR>In the 3-year period, the price return was 53.86%, the dividend return was 0%, resulting in a total return of 53.86%.<BR><BR>In the 4-year period, the price return was 126.18%, the dividend return was 0%, resulting in a total return of 126.18%.<BR><BR>In the 5-year period, the price return was 360.21%, the dividend return was 0%, resulting in a total return of 360.21%.<BR><BR>Overall, while Indbank Merchant has declared a dividend, the dividend yield is 0%, indicating that the dividend has not contributed to returns in recent periods. The total returns show significant growth over longer periods, particularly in the 4 and 5-year spans, despite the lack of dividend contributions.

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iScoreScore
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Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

Weak Long Term Fundamental Strength with an average Return on Equity (ROE) of 8.29%

  • Poor long term growth as Operating profit has grown by an annual rate of 8.95%
stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Capital Markets

stock-summary
Market cap

INR 160 Cr (Micro Cap)

stock-summary
P/E

21.00

stock-summary
Industry P/E

22

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.03

stock-summary
Return on Equity

7.39%

stock-summary
Price to Book

1.58

Revenue and Profits:
Net Sales:
7 Cr
(Quarterly Results - Jun 2026)
Net Profit:
2 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
4.24%
0%
4.24%
6 Months
-8.45%
0%
-8.45%
1 Year
-4.15%
0%
-4.15%
2 Years
-30.56%
0%
-30.56%
3 Years
22.4%
0%
22.4%
4 Years
74.45%
0%
74.45%
5 Years
56.0%
0%
56.0%

Latest dividend: 0.8000 per share ex-dividend date: Aug-07-2009

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Indbank Merchant Banking Services Ltd Gains 0.98%: 2 Key Factors Driving the Week

Announcements stock-summary

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018

06-Jul-2026 | Source : BSE

Certificate under Reg.74 (5) of SEBI (DP) regulations 2018 for the quarter ended 30th June 2026

Board Meeting Intimation for Approving The Un-Audited Financial Results Of The Company For The Quarter Ended 30Th June 2026

02-Jul-2026 | Source : BSE

Indbank Merchant Banking Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 08/07/2026 inter alia to consider and approve A meeting of the Board of Directors of the Company has been scheduled on Wednesday 8th July 2026 at Chennai inter-alia to consider and approve the un-audited financial results of the Company for the quarter ended 30th June 2026

Closure of Trading Window

29-Jun-2026 | Source : BSE

The trading window for dealing in the shares of the Company shall remain closed for all the designated persons of the Company and their immediate relatives with effect from 30.06.2026 till 48 hours after the declaration of financial results for the said quarter.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Indbank Merchant Banking Services Ltd has declared 8% dividend, ex-date: 07 Aug 09

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
15.89%
EBIT Growth (5y)
8.95%
Net Debt to Equity (avg)
0.03
Institutional Holding
0.09%
ROE (avg)
8.29%

Valuation key factors

Factor
Value
P/E Ratio
21
Industry P/E
22
Price to Book Value
1.56
EV to EBIT
6.75
EV to EBITDA
6.59
EV to Capital Employed
5.41
EV to Sales
2.64
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
73.02%
ROE (Latest)
7.39%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Sideways
Sideways
Moving Averages
Bearish (Daily)
KST
Mildly Bullish
Mildly Bullish
Dow Theory
Mildly Bullish
Mildly Bearish
OBV
Bullish
Bullish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 5 Schemes (0.09%)

FIIs

Held by 1 FIIs (0.0%)

Promoter with highest holding

Indian Bank (64.84%)

Highest Public shareholder

Singhal Securities Private Limited (1.01%)

Individual Investors Holdings

29.13%

stock-summaryFinancial
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Quarterly Results Snapshot (Standalone) - Jun'26 - QoQstock-summary

Jun'26
Mar'26
Change(%)
Net Sales
6.90
5.89
17.15%
Operating Profit (PBDIT) excl Other Income
3.16
1.82
73.63%
Interest
0.01
0.01
Exceptional Items
0.00
0.11
-100.00%
Standalone Net Profit
2.38
1.21
96.69%
Operating Profit Margin (Excl OI)
45.80%
30.90%
14.90%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Jun 2026 is 17.15% vs -5.76% in Mar 2026

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Jun 2026 is 96.69% vs -36.98% in Mar 2026

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
12.97
15.83
-18.07%
Operating Profit (PBDIT) excl Other Income
5.40
8.30
-34.94%
Interest
0.16
0.04
300.00%
Exceptional Items
0.00
0.00
Standalone Net Profit
3.99
6.15
-35.12%
Operating Profit Margin (Excl OI)
41.63%
52.43%
-10.80%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -18.07% vs 38.13% in Sep 2024

Direction Arrows
Standalone Net Profit

Growth in half year ended Sep 2025 is -35.12% vs 56.09% in Sep 2024

Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
19.22
21.46
-10.44%
Operating Profit (PBDIT) excl Other Income
8.06
10.33
-21.97%
Interest
0.18
0.09
100.00%
Exceptional Items
0.00
0.00
Standalone Net Profit
5.91
7.32
-19.26%
Operating Profit Margin (Excl OI)
41.94%
48.14%
-6.20%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -10.44% vs 18.83% in Dec 2024

Direction Arrows
Standalone Net Profit

YoY Growth in nine months ended Dec 2025 is -19.26% vs 12.62% in Dec 2024

Annual Results Snapshot (Standalone) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
25.11
26.78
-6.24%
Operating Profit (PBDIT) excl Other Income
9.85
11.91
-17.30%
Interest
0.19
0.12
58.33%
Exceptional Items
0.11
0.00
Standalone Net Profit
7.12
8.46
-15.84%
Operating Profit Margin (Excl OI)
39.23%
44.47%
-5.24%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is -6.24% vs 7.46% in Mar 2025

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2026 is -15.84% vs -6.00% in Mar 2025

stock-summaryCompany CV
About Indbank Merchant Banking Services Ltd stock-summary
stock-summary
Indbank Merchant Banking Services Ltd
Micro Cap
Capital Markets
Indbank Merchant Banking Services Limited was incorporated in August, 1989 as a subsidiary of Indian Bank. Indbank became the first and the only public sector merchant banking subsidiary in the country to go public and is presently engaged in Merchant Banking, Stock Broking, Depository Participant and allied activities. The Company is a member of NSE (Equity, Derivatives & Debt segments), BSE (Equity), MCX-SX (Equity & Derivatives) and registered with NSDL as a Depository Participant.
Company Coordinates stock-summary
Company Details
Khivraj Complex 1 1st Floor, 480 Anna Salai Nandanam Chennai Tamil Nadu : 600035
stock-summary
Tel: 91-44-24313094-97
stock-summary
investors@indbankonline.com
Registrar Details
Cameo Corporate Services Ltd , Subramanian Buildings No 1 , Club House Road, Chennai