Dhanlaxmi Bank Ltd - Stock Valuation and Financial Performance

BSE: 532180 | NSE: DHANBANK | Bank - Private | Small Cap

Dhanlaxmi Bank Share Price

43.20 -1.61 -3.59%
as on 19-Mar'24 12:01

DeciZen - make an informed investing decision on Dhanlaxmi Bank

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Dhanlaxmi Bank stock performance -

mw4me loader
P/E Ratio (SA):
12.23
Market Cap:
1,133.8 Cr.
52-wk low:
13.5
52-wk high:
58.7

Is Dhanlaxmi Bank Ltd an attractive stock to invest in?

1. Is Dhanlaxmi Bank Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Dhanlaxmi Bank Ltd is a below average quality company.

2. Is Dhanlaxmi Bank Ltd undervalued or overvalued?

The key valuation ratios of Dhanlaxmi Bank Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Dhanlaxmi Bank Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dhanlaxmi Bank Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Dhanlaxmi Bank:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dhanlaxmi Bank Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Net Interest Income (₹ Cr.)280299305332346347373330362476469
YoY Gr. Rt. %-6.7%2%8.8%4.3%0.3%7.6%-11.7%9.9%31.3%-
Total Income1,3651,3691,2811,2001,1161,0241,1001,0531,0861,1461,324
YoY Gr. Rt. %-0.2%-6.4%-6.3%-7%-8.2%7.4%-4.3%3.1%5.5%-
Adj EPS (₹ ) -20-13.6-11.80.6-10.52.61.51.423.7
YoY Gr. Rt. %-NANANA-266.1%NA465.2%-43.5%-3.4%37.3%-
BVPS (₹ )58.540.828.631.224.124.627.228.730.131.734.2
YoY Gr. Rt. %--30.2%-29.8%8.9%-22.8%2%10.7%5.5%5%5.2%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)-1.8-1.7-1.60.1-0.20.10.60.30.30.30.6
To view Net NPA to Net Advances (%) Colour Rating Guide click here
Net NPA to Net Advances (%)3.83.32.82.63.22.41.64.82.91.21.3
To view Capital Adequacy Ratio (%) Colour Rating Guide click here
Capital Adequacy Ratio (%)-----------

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Net Interest Income6.1%6.6%8.4%31.3%
Total Income-1.9%0.5%1.4%5.5%
Adj EPSNANA-9.1%37.3%
BVPS-6.6%5.6%5.2%5.2%
Share Price 2.4% 18.7% 41.6% 188.2%

Key Financial Ratios

RATIOS \ YEARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Interest Earned / Total Income94.6293.7994.0190.7590.8294.8589.7588.3984.4293.588.8
Margins To view Margins Colour Rating Guide click here
NIM (%)22.22.62.93.13.23.32.72.83.43
Performance Ratios To view Performance Ratios Colour Rating Guide click here
Return on Equity (%)-34.4-33.1-342.1-3.91.910.15.34.86.310.7
Liquidity Ratio To view Liquidity Ratio Colour Rating Guide click here
CASA (%)2224.32529.430.83229.833.434.331.9-

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.10%

Total Income has increased 1.35 CAGR in last 3 years

Net NPA to Net Advances has declined versus last 3 years average

Total income growth is not so good in last 4 quarters

Net Profit has declined -9.14 CAGR in last 3 years

Latest Financials - Dhanlaxmi Bank Ltd.

Standalone Consolidated
TTM EPS (₹) 3.7 -
TTM Sales (₹ Cr.) 1,175 -
BVPS (₹.) 34.2 -
Reserves (₹ Cr.) 613 -
P/BV 1.31 -
PE 12.23 -
From the Market
52 Week Low / High (₹) 13.50 / 58.70
All Time Low / High (₹) 7.35 / 212.50
Market Cap (₹ Cr.) 1,134
Equity (₹ Cr.) 253
Face Value (₹) 10
Industry PE 19.3

Management X-Ray of Dhanlaxmi Bank:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Dhanlaxmi Bank

Adj EPS (Rs.)

Total Income (Cr.)

ROE (%)

BVPS (Rs.)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Income 1,3651,3691,2811,2001,1161,0241,1001,0531,0861,146
Interest Income 1,2921,2841,2041,0891,0139719889319171,071
Other Income 7385771111025311312216975
Expenditure 1,6171,6101,4901,1881,1411,0131,0351,0161,0501,096
Interest Expense 1,012985900757668625614601554595
Operating Expenses 347358381349302305324366397427
Provisions258267210821718396499874
Profit Before Tax-252-241-19612-251266373649
Taxes 00130000000
Profit After Tax -252-241-20912-251266373649
Adjusted EPS (₹)-20.00-13.61-11.800.59-0.980.462.601.471.421.95
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Share Capital 126177177210253253253253253253
Total Reserves 610546331445496508574611647708
Minority Interest0000000000
Deposits12,13312,38211,35411,29410,92010,60310,90411,71212,40313,352
Borrowings 1,336941252145392200178150150492
Other Liabilities 482305349240225234357371343327
Total Liabilities 14,68814,35212,46312,33312,28611,79912,26513,09713,79615,132

Assets

Balance with RBI 630669579575603557549602708836
Balance with Banks1,045621254233269665813832710
Investments 4,4824,4973,7924,1944,3654,0373,6824,4394,0443,889
Advances 7,9367,6706,9536,4466,1106,2896,4966,7878,1429,452
Net Block 199184152183173169179225221251
Other Assets382693706671736648744660653688
Total Assets 14,68814,35212,46312,33312,28611,79912,26513,09713,79615,132

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 649-605-298-99-203-144554-90139216
Cash Flow From Investing Activity -24-10-9-11-3-10-25-27-388-106
Cash Flow From Financing Activity 114230-15084270-95-23-2800
Net Cash Flow 738-385-457-2664-248506-144-249111
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Operational & Financial Ratios

EPS (₹)-20-14-121-103112
DPS (₹)0000000000
BVPS (₹)58412931242527293032

Margin Ratios

Yield on Advances (%)16.316.717.316.916.615.515.213.711.311.3
Yield on Investments (%)7.67.68.87.47.06.88.07.16.46.0
Cost of Liabilities (%)7.57.47.86.65.95.85.55.14.44.3
NIM (%)2.02.22.62.93.13.23.32.72.83.4
Interest Spread (%)8.89.39.610.310.79.79.78.76.87.0

Performance Ratios

ROA (%)-1.8-1.7-1.60.1-0.20.10.60.30.30.3
ROE (%)-34.4-33.1-34.02.1-3.91.910.15.34.86.3
ROCE (%)-7.2-8.2-13.45.00.24.09.25.75.46.1

Efficiency Ratios

Cost to Income Ratio (%)98.393.399.978.867.476.266.781.074.777.6
Operating Costs to Assets (%)2.42.53.12.82.52.62.62.82.92.8

Valuation Parameters

Price/Book(x)0.60.80.71.00.90.70.30.50.40.5

Dhanlaxmi Bank Ltd Stock News

Dhanlaxmi Bank Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Dhanlaxmi Bank on 19-Mar-2024 12:01 is ₹43.20.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 12:01 the market cap of Dhanlaxmi Bank stood at ₹1,133.8.
The latest P/E ratio of Dhanlaxmi Bank as of 19-Mar-2024 12:01 is 12.23.
The latest P/B ratio of Dhanlaxmi Bank as of 19-Mar-2024 12:01 is 1.31.
The 52-week high of Dhanlaxmi Bank is ₹58.70 and the 52-week low is ₹13.50.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dhanlaxmi Bank is ₹1,175 ( Cr.) .

About Dhanlaxmi Bank Ltd

Dhanalakshmi Bank was incorporated in 1927 by group of entrepreneurs at Thrissur located in Kerala. The bank started with a seed capital of Rs.11,000 and with workforce of 7 employee.Much later in 1977, the bank was converted into Scheduled Commercial Bank.

Presently it has a pan-India network of 181 branches and 26 extension counters spread across in states like Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. The Bank’s Corporate Office located at Thrissur and Industrial Finance Branch at Kochi has received ISO 9001-2000 certification.

The Bank is managed by a Board of Directors comprising professionals drawn from various walks of life with Shri.G.N.Bajpai as Chairman and Shri Amitabh Chaturvedi as the Managing Director and CEO.

In August 2010, the bank has conveyed the approval of Registrar of Companies, Kerala and Lakshadweep (RoC) for change of name of the Bank from the present 'The Dhanalakshmi Bank' to 'Dhanlaxmi Bank”

Facilities

The bank has launched Centralised Banking Solution (CBS) on the Flexcube Platform facilitating anywhere/anytime banking to its clients. CBS has been installed in all branches. The bank also has established a data centre in Bangalore, to keep the networked system operational 24x7.

Dhanalakshmi Bank has installed Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) Systems in order to avail facilities for large value payments and settlements in real time on-line mode on a transaction-by-transaction basis.

The bank has a tie up with Visa International for International Debit Card. As part of this overall effort, the Bank has joined CASHNET, the first independent nation-wide shared ATM network in India, the National Financial Switch (ATM network) of the IDRBT, promoted by Reserve Bank of India and Cash Tree promoted by a group of public sector banks. Due to this the bank has access to 25,000 ATMs in the country.

It is among those banks that offer free cash withdrawal facilities for its ATM debit card holders at other Bank ATMs.

Dhanalakshmi Bank has also forayed into both life and non-life insurance segment. For this it has tie up with MetLife India for life insurance and for non-life it has tie up with Oriental Insurance Company.

The bank also markets mutual fund products and for this it has tie up with SBI Mutual Fund, Birla Sunlife Mutual Fund and Principal PNB Asset Management Company.

In February 2010, the bank entered into a MoU with Destimoney Financial Services, for extending online trading and investment services to its customers and latter on invested Rs 13 crore in Destimoney Securities forming 15% of the equity capital of the company.

In March 2010, the bank marked its foray into the retail assets business with the launch of two credit cards -- platinum and gold.

The bank entered into an agreement in June 2010 with HDFC Mutual Fund for distributing the latter's financial products through its branches across the country.

In December 2010, Dhanlaxmi Bank has entered into a pact with Qatar's largest bank -- Doha Bank -- for online transfer of funds.

In January 2011, it ventured into the gift card space, which can be used at over 4.5 lakh merchant outlets. The gift card is a rupee-denominated, pre-paid, non-reloadable card.

Products and services

Personal Banking-Under this bank offers wide range of personal banking products and services such as deposit, saving, loans, internet banking, mobile banking, demat services, credit card, debit card, etc.

NRI banking- Dhanalakshmi Bank also caters its banking products and services to NRI customers such as deposit, car loans, remittances, investment schemes, insurance are amongst others.

Corporate banking- It provides a range of products and services to corporates.

Priority and SME- It also caters its products and services to priority and SME segment such as providing various kinds of products to meet their various business requirements. This involvement is part of the Bank’s objective to act as catalysts for the economic prosperity of the country. The Bank has recognized micro finance intervention as an effective tool for poverty alleviation and has streamlined the linkage between the Bank and Self Help Groups through 100 branches.

Milestones:

2010

- Dhalaxmi Bank Launches Mobile Banking.
- Company has changed its name from Dhanalakshmi Bank Ltd. to Dhanlaxmi Bank Ltd.

2011

- Dhanlaxmi Bank launches gift card.
- Dhanlaxmi Bank introduces 300-day deposit.
- Dhalaxmi Bank Launched a Forex Card - A Foreign Currency Denominated, Re - Loadable, Prepaid Card.
- Dhanlaxmi Bank launches the second series of gold coins.

2012

- Dhanlaxmi Bank starts silver retail business.'

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