Sr. No.	Received from	Pending at the end of last month	Received	Resolved*	Total Pending #	Pending complaints >3months	Average Resolution time^ (in days)
1	Directly from Investors	0	0	0	0	0	0
2	SEBI (SCORES)	0	0	0	0	0	0
3	Other Sources (if any)	0	0	0	0	0	0
	Grand Total	0	0	0	0	0	0

Sr. No.	Month	Carried forward from previous month	Received	Resolved*	Pending#
1	Jun, 2026	0	0	0	0
2	Jul, 2026	0	0	0	0
3	Aug, 2026	0	0	0	0
	Grand Total	0	0	0	0

Sr. No.	Fin. Year	Received	Resolved*
1	2022-23	1	1
2	2023-24	0	0
3	2024-25	0	0
4	2025-26	1	1
	Grand Total	2	2

Snapshot

Q.1 Which industry/sub-sector does Indian Bank belong to?

Indian Bank belongs to the BFSI sector, operating specifically within the Bank - Public segment.

Q.2 Is Indian Bank a good quality company?

Indian Bank is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.

Q.3 Is Indian Bank undervalued or overvalued?

Indian Bank appears Overvalued, as its key valuation ratios are higher than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	8.55	7.67
Price to Book	1.42	1.31
Price to Sales	1.57	1.32
EV to EBITDA	5.46	3.76

Q.4 Is Indian Bank a good buy now?

Indian Bank is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Total Income growth, NIM, PPOP, RoA and RoE compared to its last 5-year median.
How efficiently has it grown and managed operations?
By checking its Total Asset growth and Cost-to-Income ratio.
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.

A: What are the trends in income and profitability?

Q.1 Total Income growth of Indian Bank?

Indian Bank Total Income growth is 8.72% for FY-2026, which is below its 5-year CAGR of 11.62%, indicating slower growth.

Q.2 Return on Assets of Indian Bank?

Indian Bank Return on Asset is 1.3%, which is above its 5-year historical median of 1.1%, indicating improved earnings on assets.

	Current Level	5-year Historic Median
NIM (%)	2.78	2.95
PPOP (%)	4.35	13.88
RoA (%)	1.3	1.1

Q.3 Return on Equity (ROE) of Indian Bank?

Indian Bank Return on Equity is 17.8% for FY-2026, which is above its 5-year historical median of 16.7%, indicating the business is making better use of its shareholders capital.

Q.4 Pre-provisioning operating profit margin of Indian Bank?

Indian Bank Pre-provisioning operating profit margin, which is the bank’s core operating profit before provisioning for bad loans, is 4.35% for FY-2026, which is below its 5-year median(13.88%), indicating decreasing margins.

Q.5 Net Interest Margin of Indian Bank?

Indian Bank Net Interest Margin, which is the difference between the rate of interest earned on assets and the rate of interest paid on liabilities, is 2.78% for FY-2026, which is below its 5-year median( 2.95%), indicating decreasing margins.

Q.6 Does its ROIC exceed its WACC?

Indian Bank return on invested capital (ROIC) is 33.84% for FY-2026, is higher than its estimated weighted average cost of capital (WACC) of 11.25%, indicating value creation.

B: Does the bank grow efficiently and manage its operating costs?

Q.7 Total Asset growth of Indian Bank?

Indian Bank Total Asset growth is 13.06% for FY-2026, which is above its 5-year CAGR of 9.65%, indicating faster growth.

Q.8 Cost to Income ratio of Indian Bank?

Indian Bank Cost to Income ratio which represents the cost incurred for every Rs.100 earned is 47% for FY-2026, is in line with its historical 5-year median of 46.9%, indicating stable cost management.

C: How strong is the bank’s capital position and asset quality?

Q.9 Capital Adequacy ratio of Indian Bank?

Indian Bank Capital Adequacy ratio (CAR) is 17.93% for FY-2026, which is above the regulatory requirement of 12%, indicating strong capital position.

Q.10 Asset Quality of Indian Bank?

Indian Bank Gross Non-Performing Assets, which are loans overdue by more than 90 days, is 1.98% for FY-2026, which is below its 5-year median 3.95%, while Net Non-Performing Assets, which is GNPA minus provisions made for bad loans is 0.15% which is below its 5-year median( 0.43%), indicating improving asset quality.

Ownership & governance

D: Promoter shareholding and pledge status of Indian Bank?

Q.1 Promoter shareholding and pledge status of Indian Bank?

Promoters hold 73.84% of the Indian Bank, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does Indian Bank performance compare with that of its Peers?

Q.1 AUM Growth of Indian Bank vs Industry Peers?

Indian Bank AUM CAGR is 9.65%, compared to the 5-year industry median CAGR of 9.78%, indicating stable growth and maintaining its market share.

Q.2 Profit metrics (NIM, PPOP, RoA) of Indian Bank vs industry peers

Indian Bank profit metrics are in line with the industry median level of 4.86%, indicating similar profitability compared to peers.

Profit Metrics

	Current Level	5-year Industry Median
NIM (%)	2.78	2.64
PPOP (%)	4.35	10.93
RoA (%)	1.3	1

Q.3 Operating efficiency of Indian Bank vs industry peers?

Indian Bank Cost to Income (45.7) is below the industry median of (49.85); while the current ROE (16.7) are in line with than the 5-year average Industry ROE (16.65). This shows that the business is positioned in the top quartile of the industry.

Operating Efficiency

	Current Level	5-year Industry Median
NIM (%)	2.78	2.64
PPOP (%)	4.35	10.93
RoA (%)	1.3	1
Cost to Income (%)	47	49.85
ROE (%)	17.8	16.65

Valuation & price assessment

Q.1 Stock return of Indian Bank over the last decade?

Over the last 9 years, the stock has delivered a CAGR of 13.7% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	13.7%	36.8%	26.4%	-1.9%

Q.2 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	8.55	7.67	9.90
Price to Book	1.42	1.31	1.17
Price to Sales	1.57	1.32	1.20
EV to EBITDA	5.46	3.76	5.36

Q.3 Valuation ratios of Indian Bank vs historical and industry averages?

The current Price-to-Book (P/B) ratio of 1.42 is higher than its historical median of 1.31, indicating that the stock is trading above its historical average valuation.

Check more companies

1. State Bank Of India

2. Union Bank Of India

3. PNB

4. Bank Of Baroda

5. Indian Bank

6. Canara Bank

Check trending companies

1. Piramal Pharma Ltd.

2. Cochin Shipyard Ltd.

3. ICICI Lombard General Insurance Company Ltd.

4. Cera Sanitaryware Ltd.

5. Bajaj Finserv Ltd.

About MoneyWorks4Me

Q: Which industry/sub-sector does Indian Bank belong to?

Indian Bank belongs to the BFSI sector, operating specifically within the Bank - Public segment.

Q: Is Indian Bank a good quality company?

Indian Bank is a average quality company, based on a somewhat consistent multi-year financial track record. This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.

Q: Is Indian Bank undervalued or overvalued?

Indian Bank appears Overvalued, as its key valuation ratios are higher than their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 8.55, Historic Median: 7.67. Price to Book, Current: 1.42, Historic Median: 1.31. Price to Sales, Current: 1.57, Historic Median: 1.32. EV to EBITDA, Current: 5.46, Historic Median: 3.76

Q: Is Indian Bank a good buy now?

Indian Bank is a neutral opportunity now, based on stable price trend analysis suggesting prices may move sideways. However, you need to check its quality and valuation before making a decision

Q: Total Income growth of Indian Bank?

Indian Bank Total Income growth is 8.72% for FY-2026, which is below its 5-year CAGR of 11.62%, indicating slower growth.

Q: Return on Assets of Indian Bank?

Indian Bank Return on Asset is 1.3%, which is above its 5-year historical median of 1.1%, indicating improved earnings on assets. Efficiency & Key Metrics. NIM (%), Current: 2.78, Historic Median: 2.95. PPOP (%), Current: 4.35, Historic Median: 13.88. RoA (%), Current: 1.3, Historic Median: 1.1

Q: Return on Equity (ROE) of Indian Bank?

Indian Bank Return on Equity is 17.8% for FY-2026, which is above its 5-year historical median of 16.7%, indicating the business is making better use of its shareholders capital.

Q: Pre-provisioning operating profit margin of Indian Bank?

Indian Bank Pre-provisioning operating profit margin, which is the bank’s core operating profit before provisioning for bad loans, is 4.35% for FY-2026, which is below its 5-year median(13.88%), indicating decreasing margins.

Q: Net Interest Margin of Indian Bank?

Indian Bank Net Interest Margin, which is the difference between the rate of interest earned on assets and the rate of interest paid on liabilities, is 2.78% for FY-2026, which is below its 5-year median( 2.95%), indicating decreasing margins.

Q: Does its ROIC exceed its WACC?

Indian Bank return on invested capital (ROIC) is 33.84% for FY-2026, is higher than its estimated weighted average cost of capital (WACC) of 11.25%, indicating value creation.

MoneyWorks4Me has been helping investors make better investment decisions since 2008.

MoneyWorks4Me Investment Advisers is the trade/brand name of The Alchemists Ark Pvt. Ltd., a SEBI-registered non-individual Investment Adviser (Registration No. INA000013323).

We began in 2008 as an equity research company, helping investors identify high-quality Indian businesses and understand what they were worth through deep fundamental research and intrinsic-value-based investing.

Over time, we learnt that successful investing requires much more than identifying good stocks.

Investors also need to know how much to invest, how to allocate money across different assets, how to construct a strong portfolio, when to act and, equally importantly, when not to.

That understanding shaped our evolution from an equity research company into a broader investment company built around research, portfolio strategy, technology and human judgement.

One Investing Philosophy. Different Ways to Benefit From It.

Today, our capabilities extend across Indian direct equities, mutual funds, global equities, fixed income, gold and REITs and other suitable investment opportunities.

We do not see these as separate investment products. They are different building blocks of one portfolio.

The starting point is the investor: their goals, required returns, time horizon, ability to take risk and the role each asset needs to play.

Asset allocation determines where the money should go.Research and valuation guide what we own. Portfolio construction determines how much we own.Periodic review and rebalancing help keep the portfolio aligned with its purpose.

This investment philosophy is applied in different ways across MoneyWorks4Me.

Through Omega Freedom and Omega Legacy, we work closely with investors who want comprehensive investment advice and guidance in managing their portfolios.

Through Third Rock Wealth, we bring the same investment thinking and research depth to investors who prefer mutual funds as their route to wealth creation.

Research at the Core

We look at business quality, financial strength, competitive advantage, management, growth prospects and risks. But we always consider these alongside valuation.

A good company does not automatically make a good investment at every price.

Our Quality-at-a-Reasonable-Price approach seeks to bring quality and valuation together.

Start With the Portfolio

We do not begin by asking which stock, fund or asset looks attractive.

We begin by asking what the portfolio needs.

Indian equities may provide long-term growth. Global equities can broaden diversification. Fixed income can provide stability and liquidity. Gold has a different role to play.

Every investment should earn its place in the portfolio.

Focus on Process, Not Prediction

Markets cannot be predicted consistently. A sound investment process can be followed consistently.

We therefore focus on what can be controlled: asset allocation, quality, valuation, diversification, position sizing, risk management, review and taking action when required.

Let Compounding Do the Heavy Lifting

Long-term wealth is not created only by finding investments with spectacular returns.

It comes from putting money to work intelligently, earning satisfactory inflation-beating returns across the portfolio and staying invested long enough for compounding to make a meaningful difference.

Technology Has Always Been Part of MoneyWorks4Me

Technology has been integral to MoneyWorks4Me from the beginning, from our financial X-Rays and valuation tools to portfolio analytics and research systems.

Over the years, we have accumulated company research, financial data, valuation work, investment frameworks and insights.

The aim is to make it easier for investors and our teams to work with years of MoneyWorks4Me research, data and investment thinking.

It is not intended to replace human judgement.

Investing still involves context, uncertainty and decisions for which there is not always an obvious answer.

Investors Should Understand Why

Our advisory business operates in a fiduciary capacity, and the investor's interests come first.

We believe investors should understand the reasoning behind important investment decisions rather than simply follow recommendations.

That is the thinking behind our Do-It-With-Me approach.

It is designed to help investors remain in control of their money while benefiting from professional research, process and perspective.

Our Vision

Our vision is to build a trusted, research-powered investment company that helps investors make calm, informed and well-reasoned decisions throughout their investing journey.

Markets will change. Investment opportunities will change. Technology will change how investors access information and advice.

But the principles of successful investing are far more enduring:own quality assets at sensible prices, build portfolios intelligently, manage risk and give compounding enough time to work.

That is the investment discipline MoneyWorks4Me has been building since 2008 and continues to strengthen for the future.

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
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Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Check Before You Invest : Indian Bank

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

Check more companies

Check trending companies

Create stable, long-term investment portfolio with strong, consistent stocks.

About MoneyWorks4Me

One Investing Philosophy. Different Ways to Benefit From It.

Research at the Core

Start With the Portfolio

Focus on Process, Not Prediction

Let Compounding Do the Heavy Lifting

Technology Has Always Been Part of MoneyWorks4Me

Investors Should Understand Why

Our Vision

Current Complaints

*Inclusive of complaints of previous months resolved in the current month. #Inclusive of complaints pending as on the last day of the month.

*Inclusive of complaints of previous months resolved in the current month. #Inclusive of complaints pending as on the last day of the year.

Check Before You Invest : Indian Bank

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

Check more companies

Check trending companies

Create stable, long-term investment portfolio with strong, consistent stocks.

One Investing Philosophy. Different Ways to Benefit From It.

Research at the Core

Start With the Portfolio

Focus on Process, Not Prediction

Let Compounding Do the Heavy Lifting

Technology Has Always Been Part of MoneyWorks4Me

Investors Should Understand Why

Our Vision