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Indbank Merchant Banking Services Limited
(INDBANK)
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Rating:62Neutral
Price Target:
₹27.00
▼(-17.10% Downside)
Action:Reiterated
Date:08/04/26
The score is primarily supported by strong solvency (very low leverage) and solid profitability/revenue growth, but it is held back by weak and inconsistent cash generation. Technicals are also unfavorable with the price below key moving averages and negative momentum indicators, while valuation appears neutral with a mid-range P/E and no dividend yield data to add support.
Positive Factors
Very Low Leverage
Minimal debt and near-zero leverage provide a conservative financial foundation for a capital-markets services business. Low balance-sheet obligations can preserve resilience through weaker activity and leave greater flexibility for investment, operations, or shareholder returns over the coming quarters.
Negative Factors
Unreliable Cash Conversion
Volatile operating cash flow and repeated negative free cash flow show that reported profitability has not consistently converted into cash. This can constrain internally funded growth, reduce financial flexibility, and make the timing and reliability of future cash resources less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Minimal debt and near-zero leverage provide a conservative financial foundation for a capital-markets services business. Low balance-sheet obligations can preserve resilience through weaker activity and leave greater flexibility for investment, operations, or shareholder returns over the coming quarters.
Read all positive factors
Indbank Merchant Banking Services Limited (INDBANK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.14B
Dividend Yield5.38%
Average Volume (3M)5.16K
Price to Earnings (P/E)15.4
Beta (1Y)1.11
Revenue Growth-1.63%
EPS Growth-5.03%
CountryIN
Employees95
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.66
Shares Outstanding44,378,200
10 Day Avg. Volume7,227
30 Day Avg. Volume5,159
Financial Highlights & Ratios
PEG Ratio-1.16
Price to Book (P/B)1.31
Price to Sales (P/S)5.14
P/FCF Ratio112.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indbank Merchant Banking Services Limited Business Overview & Revenue Model
Company Description
Indbank Merchant Banking Services Limited, a subsidiary of Indian Bank established in Chennai, India, in 1989, delivers an extensive portfolio of financial solutions across India. The company's core activities include merchant banking, stock broke...
Indbank Merchant Banking Services Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 253.59M | 251.53M | 209.53M | 195.66M | 159.06M | 176.31M |
| Gross Profit | 240.03M | 231.61M | 106.94M | 100.03M | 81.11M | 107.44M |
| EBITDA | 103.29M | 98.93M | 121.89M | 121.03M | 63.45M | 102.84M |
| Net Income | 73.61M | 71.25M | 84.63M | 89.99M | 35.02M | 69.64M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.23B | 1.18B | 1.06B | 973.82M | 946.95M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 867.16M | 818.68M | 629.83M | 333.75M | 162.01M |
| Total Debt | 0.00 | 0.00 | 124.00K | 0.00 | 27.85M | 0.00 |
| Total Liabilities | -987.41M | 243.98M | 264.38M | 229.70M | 228.77M | 235.63M |
| Stockholders Equity | 987.41M | 987.41M | 916.52M | 833.69M | 745.05M | 711.32M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 11.52M | -1.74M | -13.19M | -618.00K | 127.08M |
| Operating Cash Flow | 0.00 | 13.23M | 755.00K | -11.57M | 304.00K | 5.55M |
| Investing Cash Flow | 0.00 | -14.18M | 5.62M | -1.75M | -10.29M | -9.76M |
| Financing Cash Flow | 0.00 | 0.00 | -1.22M | -713.00K | -8.89M | -15.04M |
Indbank Merchant Banking Services Limited Technical Analysis
Negative
32.57
Price Trends
31.36
Negative
32.57
Negative
33.64
Negative
Market Momentum
-1.68
Positive
26.31
Positive
14.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDBANK, the sentiment is Negative. The current price of 32.57 is above the 20-day moving average (MA) of 29.26, above the 50-day MA of 31.36, and below the 200-day MA of 33.64, indicating a bearish trend. The MACD of -1.68 indicates Positive momentum. The RSI at 26.31 is Positive, neither overbought nor oversold. The STOCH value of 14.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDBANK.
Indbank Merchant Banking Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹106.17B | 18.85 | ― | 0.87% | -4.46% | -19.71% | |
67 Neutral | ₹117.23B | 11.62 | ― | 2.58% | -2.59% | -5.88% | |
63 Neutral | ₹6.77B | 33.50 | ― | 0.61% | 18.60% | -61.27% | |
62 Neutral | ₹1.14B | 15.40 | ― | 5.38% | -1.63% | -5.03% | |
62 Neutral | ₹1.33B | 24.09 | ― | 0.42% | -6.38% | -70.43% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹121.30B | 18.39 | ― | 1.10% | 16.27% | 44.44% |
* General Sector Average
IN:INDBANK
Indbank Merchant Banking Services Limited
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Indbank Merchant Banking Services Limited Corporate Events
Indbank Resubmits Unaudited Q1 Results After Presentation Change
Jul 8, 2026
Indbank Merchant Banking Services Limited has revised the outcome of its 8 July 2026 board meeting after identifying that its unaudited financial results for the quarter ended 30 June 2026 included two additional columns not required by the stock ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.