CSB Bank Ltd - Stock Valuation and Financial Performance

BSE: 542867 | NSE: CSBBANK | Bank - Private | Small Cap

CSB Bank Share Price

352.80 -1.15 -0.32%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on CSB Bank

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

CSB Bank stock performance -

mw4me loader
P/E Ratio (SA):
10.74
Market Cap:
6,142.3 Cr.
52-wk low:
231
52-wk high:
422

Is CSB Bank Ltd an attractive stock to invest in?

1. Is CSB Bank Ltd a good quality company?

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

2. Is CSB Bank Ltd undervalued or overvalued?

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

3. Is CSB Bank Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of CSB 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 CSB 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.
CSB 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.)3793563243143854405929411,1531,3341,439
YoY Gr. Rt. %--6.1%-9.1%-3.1%22.7%14.3%34.6%58.9%22.5%15.7%-
Total Income1,6211,6721,5881,6181,4221,4831,7322,1752,2852,6363,291
YoY Gr. Rt. %-3.1%-5%1.9%-12.1%4.3%16.7%25.6%5%15.3%-
Adj EPS (₹ ) 6.4-8.8-20.90.2-12-230.712.626.431.633
YoY Gr. Rt. %--237.2%NANA-6436.8%NANA1624.7%109.9%19.4%-
BVPS (₹ )154.1126.7101.4103.290.172.5103.9116.7143.2174.8200.1
YoY Gr. Rt. %--17.8%-20%1.8%-12.7%-19.6%43.5%12.3%22.7%22.1%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)0.2-0.3-10-0.6-1.20.111.920
To view Net NPA to Net Advances (%) Colour Rating Guide click here
Net NPA to Net Advances (%)2.23.94.45.54.52.31.91.20.70.40.3
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 Income15%28.2%31.1%15.7%
Total Income5.6%13.1%15%15.3%
Adj EPS19.4%NA250.9%19.4%
BVPS1.4%14.2%18.9%22.1%
Share Price - - 13.9% 40.3%

Key Financial Ratios

RATIOS \ YEARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Interest Earned / Total Income92.7692.3893.4182.6291.1890.8487.286.0789.288.0184.1
Margins To view Margins Colour Rating Guide click here
NIM (%)2.52.32.22.12.62.83.44.24.74.70
Performance Ratios To view Performance Ratios Colour Rating Guide click here
Return on Equity (%)4.2-7.6-20.10.2-12.5-29.21.111.420.319.815.5
Liquidity Ratio To view Liquidity Ratio Colour Rating Guide click here
CASA (%)17.3182024.82727.829.232.233.732.2-

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.60%

Total Income has increased 15.03 CAGR in last 3 years

Net Profit has increased 250.93 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

No data to display

Latest Financials - CSB Bank Ltd.

Standalone Consolidated
TTM EPS (₹) 33 -
TTM Sales (₹ Cr.) 2,769 -
BVPS (₹.) 200.1 -
Reserves (₹ Cr.) 3,297 -
P/BV 1.77 -
PE 10.74 -
From the Market
52 Week Low / High (₹) 231.00 / 421.95
All Time Low / High (₹) 95.00 / 421.95
Market Cap (₹ Cr.) 6,142
Equity (₹ Cr.) 173.5
Face Value (₹) 10
Industry PE 19.4

Management X-Ray of CSB 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 CSB 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 1,6211,6721,5881,6171,4221,4831,7312,1752,2852,636
Interest Income 1,5041,5451,4831,3361,2971,3481,5101,8722,0382,320
Other Income 117127105281125136222303247316
Expenditure 1,5941,7251,7371,6161,5201,6811,7191,9571,8272,088
Interest Expense 1,1251,1891,1591,023912908918931885986
Operating Expenses 401433432443436563533729786942
Provisions68103146150172211268297155160
Profit Before Tax41-82-228-9-149-300134293614734
Taxes 14-29-79-10-52-10312174156186
Profit After Tax 27-53-1502-97-19713218458547
Adjusted EPS (₹)6.42-8.81-20.880.19-12.04-22.980.7312.5926.4331.55
Dividend Payout Ratio (%)16%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 426072818186174174174174
Total Reserves 7288288219188086941,7872,0062,4643,012
Minority Interest0000000000
Deposits13,67414,47414,43814,91214,69115,12415,79119,14020,18824,506
Borrowings 5564542424207941,4262,007783
Other Liabilities 3163542792712491,007319592523688
Total Liabilities 15,31615,76215,65216,22315,87016,91118,86423,33725,35629,162

Assets

Balance with RBI 6246886767566787255487361,4731,470
Balance with Banks45011050455537248392978101367
Investments 5,1325,0535,9875,7624,1144,0285,3606,1267,0125,849
Advances 8,7079,4727,8538,1199,33710,61511,36614,43815,81520,651
Net Block 173175215215216218253269288319
Other Assets2292638719169871,077945790668507
Total Assets 15,31615,76215,65216,22315,87016,91118,86423,33725,35629,162

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 53-356-16639527-893-1,1091,374-8522,211
Cash Flow From Investing Activity -16-16-13-17-18-22-235-1,231131-724
Cash Flow From Financing Activity -2897106106-56741,310632581-1,224
Net Cash Flow 9-276-724854-242-34775-140263
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Operational & Financial Ratios

EPS (₹)6-9-210-12-231132632
DPS (₹)1000000000
BVPS (₹)1541271011039072104117143175

Margin Ratios

Yield on Advances (%)17.316.318.916.513.912.713.313.012.911.2
Yield on Investments (%)7.38.16.710.68.28.86.39.55.97.2
Cost of Liabilities (%)7.98.28.06.86.26.05.54.54.03.9
NIM (%)2.52.32.22.12.62.83.44.24.74.7
Interest Spread (%)9.48.110.99.67.76.77.88.48.97.3

Performance Ratios

ROA (%)0.2-0.3-1.00.0-0.6-1.20.11.01.92.0
ROE (%)4.2-7.6-20.10.2-12.5-29.21.111.420.319.8
ROCE (%)6.3-3.9-21.91.0-13.7-21.57.311.416.718.6

Efficiency Ratios

Cost to Income Ratio (%)80.889.6100.974.585.497.765.558.656.257.1
Operating Costs to Assets (%)2.62.82.82.72.83.32.83.13.13.2

Valuation Parameters

Price/Book(x)0.00.00.00.00.00.01.12.01.51.4

CSB Bank Ltd Stock News

CSB Bank Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of CSB Bank on 28-Mar-2024 16:01 is ₹352.8.
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 28-Mar-2024 16:01 the market cap of CSB Bank stood at ₹6,142.3.
The latest P/E ratio of CSB Bank as of 28-Mar-2024 16:01 is 10.74.
The latest P/B ratio of CSB Bank as of 28-Mar-2024 16:01 is 1.77.
The 52-week high of CSB Bank is ₹421.9 and the 52-week low is ₹231.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of CSB Bank is ₹2,769 ( Cr.) .

About CSB Bank Ltd

The Bank was incorporated on November 26, 1920 under the Indian Companies Act, 1913 as ‘The Catholic Syrian Bank Limited’. A fresh certificate of incorporation under the Companies Act, 1956 was issued by the Registrar of Companies, Kerala at Ernakulum (RoC) on April 14, 1987. The Shareholders of Bank approved the change of the name of Bank from ‘The Catholic Syrian Bank Limited’ to ‘CSB Bank Limited’ through a postal ballot resolution dated May 4, 2019. RBI through its letter dated April 1, 2019 conveyed its ‘no objection’ in terms of Section 49B of the Banking Regulation Act to the change of name of Bank from ‘The Catholic Syrian Bank Limited’ to ‘CSB Bank Limited’. Subsequently, a fresh certificate of incorporation under the Companies Act, 2013 was issued by the RoC on June 10, 2019 and a fresh license bearing no. MUM-147 dated June 28, 2019 was issued by the RBI under Bank’s new name to carry on the banking business in India, in lieu of Bank’s previous license dated June 19, 1969. The name of Bank was changed to ‘CSB Bank Limited’ from “The Catholic Syrian Bank Limited”, in the second schedule of the RBI Act with effect from June 10, 2019.

CSB Bank is one of the oldest private sector banks in India with a history of over 98 years and has a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra. It offers a wide range of products and services to its overall customer base of 1.3 million as on September 30, 2019, with particular focus on SME, Retail, and NRI customers. It delivers its products and services through multiple channels, including 412 branches (excluding three service branches and three asset recovery branches) and 290 ATMs spread across 16 states and four union territories as on September 30, 2019, and various alternate channels such as micro ATMs, debit cards, internet banking, mobile banking, point of sale services and UPI. While the bank has a long operating history as a traditional bank, it is currently focusing on implementation of strategic changes in its business model to function efficiently as a full service new age private sector bank backed by its new marquee investor - FIHM, its Promoter.

Business area of the bank

Under its SME banking business, the bank caters to financial institutions, agriculture and allied businesses, and vendors and dealers of corporates. It offers a wide range of products including term loans, working capital loans, invoice/bill discounting, letters of credit and bank guarantees. Under its retail banking business, it offers a wide range of loan and deposit products to its retail and NRI customers. Its retail lending products include gold loans, vehicle loans including two wheeler loans, loans against properties, personal loans, housing loans, agricultural loans, and education loans. Under its wholesale banking business, the bank caters to large and mid-size corporates and other business entities (with credit requirement of Rs 250 million and above). Besides, the banks treasury operations primarily consist of statutory reserves management, asset liability management, liquidity management, investment and trading of securities, and money market and foreign exchange activities.

Major Events & Milestones

  • 1920: Incorporation of bank.
  • 1964-65: The bank took over the assets and liabilities of six small and medium sized banks located in Kerala.
  • 1969: The Bank was included in the second schedule to the RBI Act.
  • 1972: Opened first branch in the state of Maharashtra in Mumbai.
  • 1973: Opened first branch in the state of Karnataka in Bengaluru.
  • 1975: Received license to deal in foreign exchange and mechanized reconciliation of inter-branch transactions.
  • 2003: Changed the logo and colour scheme to create a new image of bank.
  • 2004: Total business (advances plus deposits) crossed Rs 50,000 million.
  • 2009: Total business (advances plus deposits) crossed Rs 100,000 million.
  • 2015: Obtained approval of the FIPB for increasing the FDI limit in bank to 74% of the paid up share capital of bank.
  • 2015: Public launch of mobile banking.
  • 2018: RBI accorded its approval to FIHM to acquire 51% of the post issue paid up share capital of bank.
  • 2019: Established bank’s two wheeler loan business.
  • 2019: The bank changed its name, logo and color scheme.
  • 2020: CSB Bank has entered into a partnership with non-banking finance company, IIFL Finance (IIFL) for sourcing and managing retail gold loan assets.
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