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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Indbank Merchant Banking Services Limited is engaged in stockbroking, depository participant operations, distribution of mutual funds and other investment products and merchant banking. The services of the Company include merchant banking, advisory services, stockbroking,…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, fast-growing business, trading cheap versus its own history — but flagged on governance.
Indbank Merchant Banking is scored on the nbfc / financials framework. It keeps a fat 28.4% of every rupee of sales as net profit.
Over the last 3 years revenue compounded at 11%/yr and profit at 27%/yr. Book value has grown 10%/yr. Return on equity is a weak 6.9%. In the latest quarter profit fell 32% versus the prior quarter.
At 16× earnings, the stock sits at the 6th percentile of its own 3.6-year range — the cheap end of where it has historically traded. Today's price implies ~6%/yr earnings growth for a decade. The forensic screen raises a red flag: Share count up 26% over 4 years — heavy equity dilution.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 15.75 | 21.76 | better |
| P/B | 1.09 | 3.34 | better |
| EV/EBITDA | 2.09 | — | — |
| ROE | 6.93 | — | — |
| ROCE | 9.37 | 5.66 | better |
| ROA | 5.56 | — | — |
| Quick Ratio | 4.72 | 12.55 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Groww | 50.1 | 11.7 | 23.3% |
| Motilal Oswal Fin | 24.6 | 4.3 | 17.4% |
| 360 One Wam | 39.3 | 3.9 | 12.0% |
Not applicable for this sector.
Revenue is on a 2-year growth streak. 11% CAGR over 3 years — steady double-digit compounder. Growth is decelerating — latest year grew slower than the year before.
Profit is growing faster than revenue (27% vs 11%) — margin expansion is at work.
Operating margin has expanded from 28% to 38% — the business is keeping more of each rupee earned.
ROE at 7% — modest; the capital isn't working hard. Low variance across years — a predictable business that earns steadily on its equity base.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. 27% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
3 of 4 years had negative operating cash flow — profitability on paper may not translate to cash. Cash conversion at 0.3× PAT — reported profit isn't translating into cash, raising earnings quality questions. Financing outflows in consecutive years — balance-sheet discipline through debt repayment or dividends.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 8% QoQ — could be seasonality or a genuine slowdown. Run-rate stepping up — recent quarters average 9% above earlier ones.
Profit fell 32% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly margins are compressing (31% → 25%) — more revenue isn't translating to proportionally more profit.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoter holding at 64.8% — majority control intact.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.