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The South Indian Bank Ltd. Stock Analysis

Small Cap
Evaluated by 4667 users | BSE: 532218 | NSE: SOUTHBANK |
Bank - Private
South Indian Bank (SIB) was incorporated in 1908 by a group of enterprising men at Thrissur. One of the earliest banks in South India, South Indian Bank came into being during the Swadeshi movement.  The bank started with an intention to induce the habit of savings in the community on one...

Analysis of Financial Track Record

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.
The South Indian Bank Ltd. has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Net Interest Income (Rs. Cr.)7911,0221,2811,3991,3661,5101,6751,9662,0202,318
Y-o-Y Gr. Rt.33-29.2%25.4%9.2%-2.3%10.5%11%17.3%2.8%14.7%
Total Income2,6433,8314,7695,3845,7836,0756,5637,0307,6038,810
Y-o-Y Gr. Rt.-45%24.5%12.9%7.4%5%8%7.1%8.2%15.9%
Adjusted EPS (Rs.)
Adjusted Earning per Share is the company’s net profit per share after adjusting for extra-ordinary/exceptional items
2.343.213.43.422.062.232.181.851.370.58
Y-o-Y Gr. Rt.-37.2%5.9%0.6%-39.8%8.3%-2.2%-15.1%-26%-57.7%
Book Value per Share (Rs.)
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
13.5616.1419.3721.7923.1324.8525.5227.6528.1628.48
Y-o-Y Gr. Rt.-19%20%12.5%6.2%7.4%2.7%8.4%1.8%1.1%
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)
  • >1.25 : Very Good
  • 1-1.25 : Somewhat Good
  • <1 : Not Good
Net Profit/Total Funds (%)11.11.110.970.540.540.570.430.280.11
To view Net NPA to Net Advances (%) Colour Rating Guide click here
Net NPA to Net Advances (%): Colour Rating Guide
  • < 0.5 : Very Good
  • 0.5-1 : Somewhat Good
  • >1: Not Good
Net NPA to Net Advances (%)0.290.280.780.780.962.891.452.63.453.34
To view Capital Adequacy Ratio Colour Rating Guide click here
Capital Adequacy Ratio: Colour Rating Guide
  • > 12% : Very Good
  • 9%-12% : Somewhat Good
  • <9%: Not Good
Capital Adequacy Ratio - - - - - - - - - 0%
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
The South Indian Bank Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Interest Income12.7%11.2%11.4%14.7%
Total Income14.3%8.8%10.3%15.9%
Adjusted EPS
Adjusted Earnings per Share is the Company’s net profit per share after adjusting for extra-ordinary/exceptional items.
-14.4%-22.4%-35.7%-57.7%
Book Value per Share
8.6%4.3%3.7%1.1%
Share Price -11.8% -19.4% -40.4% -34%
Key Financial Ratios
RATIOS \ YEARSMar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Interest Earned / Total Income92.5693.5592.9893.1691.4191.4889.188.0990.4588.13
Margins
To view Margins Colour Rating Guide click here
Margins: Colour Rating Guide
  • >2.75 : Very Good
  • 1.75-2.75 : Somewhat Good
  • <1.75 : Not Good
NIM (%)2.482.62.632.62.482.552.42.552.332.6
Performance Ratios
To view Performance Ratios Colour Rating Guide click here
Performance Ratios: Colour Rating Guide
  • >15% : Very Good
  • 12%-15% : Somewhat Good
  • <12% : Not Good
Return on Equity (%)18.5221.6220.5516.639.199.319.456.984.92.04
Liquidity Ratio
To view Liquidity Ratio Colour Rating Guide click here
Liquidity Ratio: Colour Rating Guide
  • >35 : Very Good
  • 25-35 : Somewhat Good
  • <25 : Not Good
CASA (%) 21.5519.6718.620.6920.5922.3623.8223.824.2125
Entity Percentage Holding
Institutions 9.74%
Non-Institutions 90.26%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of The South Indian Bank Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that The South Indian Bank Ltd. is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of The South Indian Bank Ltd.'s performance infers:

The South Indian Bank Ltd. earnings have declined by -22.4%, whereas share price has depreciated -19.4% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of The South Indian Bank Ltd. share prices over the last 10 years. Here is what we found out:

The South Indian Bank Ltd. share price has depreciated -12.3% annually over the past ten years.

South Indian Bank (SIB) was incorporated in 1908 by a group of enterprising men at Thrissur. One of the earliest banks in South India, South Indian Bank came into being during the Swadeshi movement.  The bank started with an intention to induce the habit of savings in the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.

With

South Indian Bank (SIB) was incorporated in 1908 by a group of enterprising men at Thrissur. One of the earliest banks in South India, South Indian Bank came into being during the Swadeshi movement.  The bank started with an intention to induce the habit of savings in the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest.

With branches all over India and a clientele across the world, the bank is considered one of the most pro active banks in India with a competent tech savvy team of professional at the core of services.

Milestone

It became the first private bank in Kerala to receive scheduled bank status in 1946 under the RBI Act.

SIBL was the first private sector bank to open a NRI branch in November 1992.

It became the first private bank in Kerala to open an 'Overseas Branch' to cater exclusively to the export and import business in June 1993.

Today, SBIL has a network of total 697 branches, 665 ATMs and 2 extension counters.

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.

The bank offers mutual funds products of various funds houses such as ICICI Prudential AMC, Franklin Templeton, TATA Mutual Fund, Sundaram BNP Paribas, UTI Mutual Funds, Reliance Mutual Funds, HSBC Investments, HDFC Mutual Fund, Fidelity Fund Management, Principal Mutual Funds, Fortis Investments, Birla Sun Life Asset Management Company and DSP BlackRock Mutual Funds.

NRI banking- SIB 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 wide range of products and services to corporates. SIB offers working capital finance, project finance, structured finance etc.

Awards

South Indian Bank bagged Special Award from IDRBT for Excellence in Banking Technology.

The bank received best “Asian Banking Web Site” award from Asian Banking & Finance Magazine

2012-13

SIB bags The IBA Banking Technology Awards 2012-13

Sunday Standard Best Bankers -2013 Awards

2010-12
South Indian Bank Bags Technology Excellence Award 2011-12 from IDRBT
Best Bank Award to South Indian Bank
South Indian Bank Bagged The Best Web Site Award From Kma
Businessworld India’s Best Bank 2010 Award  To South Indian Bank
Sunday Standard Best Bankers -2013 Awards

South Indian Bank has won the Technology Excellence Award 2010 from IDRBT


 

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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