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Indian Bank
(INDIANB)
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Rating:72Outperform
Price Target:
₹941.00
▲(13.26% Upside)
Action:Upgraded
Date:10/15/26
The score is driven primarily by strong financial performance (notably earnings and balance-sheet improvement) and an attractive valuation (low P/E), supported by a mostly constructive earnings-call outlook with raised growth guidance and improving asset quality. Offsetting factors are cash-flow volatility and mixed technical momentum (negative MACD and trading below longer-term averages).
Positive Factors
Broad-based growth
Growth is broad rather than dependent on one lending category, with retail, agriculture and MSME all expanding strongly. This diversification supports recurring interest income, reduces concentration risk, and gives Indian Bank several avenues to sustain business momentum over the next several quarters.
Negative Factors
Funding-cost pressure
Higher deposit and borrowing costs can compress the spread between lending yields and funding expense, particularly when competition limits the ability to reprice loans. Persistent funding pressure could therefore restrain net interest margin expansion and reduce the benefit of strong loan growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based growth
Growth is broad rather than dependent on one lending category, with retail, agriculture and MSME all expanding strongly. This diversification supports recurring interest income, reduces concentration risk, and gives Indian Bank several avenues to sustain business momentum over the next several quarters.
Read all positive factors
Indian Bank (INDIANB) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.17T
Dividend Yield2.11%
Average Volume (3M)47.70K
Price to Earnings (P/E)8.8
Beta (1Y)1.28
Revenue Growth12.44%
EPS Growth17.22%
CountryIN
Employees40,161
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)98.13
Shares Outstanding1,346,964,000
10 Day Avg. Volume58,791
30 Day Avg. Volume47,700
Financial Highlights & Ratios
PEG Ratio2.48
Price to Book (P/B)1.42
Price to Sales (P/S)1.45
P/FCF Ratio3.42
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)103.16
Revenue Forecast (FY)₹430.54B
Indian Bank Business Overview & Revenue Model
Company Description
Indian Bank is a comprehensive financial institution offering a broad spectrum of banking solutions. Its product portfolio encompasses diverse deposit options, including savings and current accounts, fixed-term deposits, and specialized accounts f...
How the Company Makes Money
Indian Bank primarily makes money through (1) net interest income and (2) non-interest (fee and other) income.
1) Net interest income (core earnings):
- Interest on loans and advances: The bank earns interest from lending to customers across segm...
Indian Bank Earnings Call Summary
Earnings Call Date:Oct 15, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 27, 2027
Earnings Call Sentiment Positive
The call was broadly positive, supported by strong business growth, higher profitability, improved asset-quality metrics, healthy capital levels, a large corporate pipeline, and progress in CASA and digital initiatives. Management also raised growth guidance and maintained a constructive credit outlook. However, the call acknowledged one-time income contributions, higher ECL provisioning, muted future treasury income, funding-cost pressure, intense lending competition, and potential future HTM valuation volatility. Overall, the positive operating and asset-quality trends significantly outweighed the stated challenges.Positive Updates
Strong Overall Business and Loan Growth
Total business grew by 14.22%, deposits grew by 12.50%, and advances grew by 16.39%. Management revised deposit growth guidance to 11%-12% from 9%-11% and advances growth guidance to 13%-14% from 11%-13%.
Negative Updates
Sequential CASA Ratio Pressure from FCNR Deposits
Although CASA grew 13.77% year over year, the CASA ratio declined sequentially because of the disproportionate increase in FCNR deposits and stood at 39.36%, below management's expectation of around 40% for the quarter.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong Overall Business and Loan Growth
Total business grew by 14.22%, deposits grew by 12.50%, and advances grew by 16.39%. Management revised deposit growth guidance to 11%-12% from 9%-11% and advances growth guidance to 13%-14% from 11%-13%.
Read all positive updates
Company Guidance
Management revised deposit growth guidance to 11%-12% from 9%-11% and advances growth guidance to 13%-14% from 11%-13%; recovery is expected to be “better than what we have given guidance.” Advances growth of 14%, 15% is expected to be achieved, corporate growth is targeted at 10%-12% and in lower double digit, and CASA is expected to be maintained at around 40%. NIM is expected to increase by 6-7 basis points in this quarter, with expansion of around 5-6 basis points also indicated, while the repo-rate impact may result in 5, 6 basis point expansion. Treasury income going forward will be muted, with no very high profit expected; recurring credit cost guidance is maintained at 10%-15%, and tier one capital is expected to reach around 17, 17.5 by March end.Indian Bank Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
53
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 807.88B | 783.32B | 720.49B | 642.34B | 527.89B | 462.65B |
| Gross Profit | 363.59B | 342.53B | 352.23B | 318.93B | 280.72B | 241.36B |
| EBITDA | 175.20B | 163.44B | 115.38B | 86.60B | 58.63B | 45.95B |
| Net Income | 132.17B | 117.04B | 112.61B | 84.19B | 55.72B | 41.42B |
Balance Sheet | ||||||
| Total Assets | 10.75T | 9.92T | 8.77T | 7.96T | 7.13T | 6.74T |
| Cash, Cash Equivalents and Short-Term Investments | 808.96B | 657.00B | 549.61B | 421.77B | 502.17B | 799.68B |
| Total Debt | 772.99B | 468.07B | 415.52B | 231.43B | 220.92B | 172.18B |
| Total Liabilities | 9.88T | 9.11T | 8.05T | 7.35T | 6.64T | 6.29T |
| Stockholders Equity | 868.62B | 800.43B | 715.13B | 602.48B | 495.07B | 449.52B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 332.63B | -322.89B | -92.44B | -282.28B | 284.27B |
| Operating Cash Flow | 0.00 | 337.17B | -317.49B | -86.17B | -278.94B | 287.50B |
| Investing Cash Flow | 0.00 | -1.06T | -3.48B | -6.18B | -3.14B | -3.05B |
| Financing Cash Flow | 0.00 | 833.67B | 448.82B | 11.95B | -15.43B | 184.30M |
Indian Bank Technical Analysis
Positive
830.85
Price Trends
847.97
Positive
845.79
Positive
855.59
Positive
Market Momentum
3.96
Negative
58.84
Neutral
63.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIANB, the sentiment is Positive. The current price of 830.85 is below the 20-day moving average (MA) of 835.73, below the 50-day MA of 847.97, and below the 200-day MA of 855.59, indicating a bullish trend. The MACD of 3.96 indicates Negative momentum. The RSI at 58.84 is Neutral, neither overbought nor oversold. The STOCH value of 63.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INDIANB.
Indian Bank Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹1.17T | 8.82 | ― | 2.11% | 12.44% | 17.22% | |
72 Outperform | ₹1.41T | 6.19 | ― | 2.45% | 2.89% | 34.19% | |
71 Outperform | ₹1.23T | 6.79 | ― | 3.56% | 2.73% | -6.67% | |
69 Neutral | ₹603.23B | 4.83 | ― | 3.51% | 9.15% | 29.72% | |
68 Neutral | ₹1.07T | 5.23 | ― | 3.55% | -6.75% | 6.41% | |
65 Neutral | ₹1.41T | 6.45 | ― | 2.70% | 0.31% | 19.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:INDIANB
Indian Bank
865.00
23.90
2.84%
IN:BANKBARODA
Bank of Baroda
238.50
-31.08
-11.53%
IN:BANKINDIA
Bank of India
132.50
-2.93
-2.16%
IN:CANBK
Canara Bank
118.35
-14.23
-10.73%
IN:PNB
Punjab National Bank
122.50
3.07
2.57%
IN:UNIONBANK
Union Bank of India Limited
185.20
40.91
28.35%
Indian Bank Corporate Events
Indian Bank Clears Q2 FY27 Results and Rs 7,000 Crore Bond Plan
Oct 15, 2026
Indian Bank’s board has approved the unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2026, including segment data, cash flow statements, assets and liabilities, and a limited r...
Indian Bank Files Investor Presentation Ahead of 20 August Meet
Aug 19, 2026
Indian Bank has notified the stock exchanges that it has prepared an investor presentation for an upcoming investor meet scheduled for 20 August 2026. The presentation has been filed under SEBI’s disclosure regulations and made available on ...
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.