BSE: 543386 | NSE: FINOPB | Bank - Private | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Fino Payments Bank Ltd is a below average quality company.
The key valuation ratios of Fino Payments Bank Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Fino Payments Bank Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income (₹ Cr.) | 13.6 | 8.3 | 10.7 | 20.3 | 47.5 | 67.8 | ||||||
| YoY Gr. Rt. % | - | -39.4% | 29.7% | 89.7% | 133.8% | - | ||||||
| Total Income | 371 | 691 | 791 | 1,009 | 1,230 | 1,401 | ||||||
| YoY Gr. Rt. % | - | 86.3% | 14.4% | 27.5% | 21.9% | - | ||||||
| Adj EPS (₹ ) | -8 | -4.1 | 2.6 | 5.1 | 7.8 | 10 | ||||||
| YoY Gr. Rt. % | - | NA | NA | 96.2% | 52.1% | - | ||||||
| BVPS (₹ ) | 20.8 | 16.7 | 19.3 | 57.3 | 65.1 | 72.4 | ||||||
| YoY Gr. Rt. % | - | -19.8% | 15.8% | 196.8% | 13.7% | - | ||||||
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | -9.1 | -4.9 | 2.5 | 3.2 | 3.1 | 0 | ||||||
| To view Net NPA to Net Advances (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | - | ||||||
| To view Capital Adequacy Ratio (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Capital Adequacy Ratio (%) | - | - | - | - | - | 86.05 | ||||||
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | NA | NA | 79.2% | 133.8% | ||||
| Total Income | NA | NA | 21.2% | 21.9% | ||||
| Adj EPS | NA | NA | NA | 52.1% | ||||
| BVPS | NA | NA | 57.5% | 13.7% | ||||
| Share Price | - | - | - | 39.3% | ||||
| RATIOS \ YEARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Earned / Total Income | 5.16 | 2.62 | 2.56 | 3.53 | 7.71 | 9.9 | ||||||
| Margins | To view Margins Colour Rating Guide click here ⓘ | |||||||||||
| NIM (%) | 3 | 1.9 | 1.4 | 1.5 | 2.4 | 0 | ||||||
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | -38.5 | -21.9 | 14.6 | 13.6 | 12.8 | 13.8 | ||||||
| Liquidity Ratio | To view Liquidity Ratio Colour Rating Guide click here ⓘ | |||||||||||
| CASA (%) | 100 | 100 | 100 | 100 | 100 | - | ||||||
Return on Equity has increased versus last 3 years average to 14.50%
Total Income has increased 21.17 CAGR in last 3 years
Total income growth is good in last 4 quarters
Net Profit has declined 0.00 CAGR in last 3 years
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 10 | - |
| TTM Sales (₹ Cr.) | 138 | - |
| BVPS (₹.) ⓘ | 72.4 | - |
| Reserves (₹ Cr.) ⓘ | 520 | - |
| P/BV ⓘ | 4.00 | - |
| PE ⓘ | 29.01 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 201.60 / 383.75 |
| All Time Low / High (₹) | 182.55 / 583.35 |
| Market Cap (₹ Cr.) | 2,411 |
| Equity (₹ Cr.) | 83.2 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 19.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|
| Income | 371 | 691 | 791 | 1,009 | 1,230 |
| Interest Income | 19 | 18 | 20 | 36 | 95 |
| Other Income ⓘ | 352 | 673 | 771 | 973 | 1,135 |
| Expenditure | 434 | 723 | 771 | 966 | 1,165 |
| Interest Expense | 6 | 10 | 10 | 15 | 47 |
| Operating Expenses | 427 | 713 | 757 | 951 | 1,117 |
| Provisions | 1 | 1 | 4 | 0 | 0 |
| Profit Before Tax | -62 | -32 | 20 | 43 | 65 |
| Taxes | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -62 | -32 | 20 | 43 | 65 |
| Adjusted EPS (₹) | -8.00 | -4.11 | 2.62 | 5.14 | 7.82 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Share Capital ⓘ | 45 | 45 | 45 | 83 | 83 | |||||
| Total Reserves ⓘ | 118 | 85 | 106 | 393 | 459 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Deposits | 48 | 118 | 243 | 503 | 917 | |||||
| Borrowings ⓘ | 83 | 111 | 181 | 250 | 434 | |||||
| Other Liabilities | 392 | 266 | 436 | 451 | 573 | |||||
| Total Liabilities ⓘ | 684 | 624 | 1,010 | 1,680 | 2,466 | |||||
Assets | ||||||||||
| Balance with RBI | 157 | 131 | 88 | 224 | 220 | |||||
| Balance with Banks | 231 | 171 | 183 | 542 | 614 | |||||
| Investments ⓘ | 73 | 128 | 504 | 631 | 1,146 | |||||
| Advances | 0 | 0 | 0 | 0 | 0 | |||||
| Net Block ⓘ | 42 | 49 | 62 | 92 | 139 | |||||
| Other Assets | 180 | 144 | 172 | 189 | 341 | |||||
| Total Assets ⓘ | 684 | 624 | 1,010 | 1,680 | 2,466 | |||||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | -14 | -7 | 5 | 5 | 8 | |||||
| DPS (₹) | 0 | 0 | 0 | 0 | 0 | |||||
| BVPS (₹) | 36 | 29 | 34 | 57 | 65 | |||||
Margin Ratios | ||||||||||
| Yield on Advances (%) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||
| Yield on Investments (%) | 6.4 | 3.8 | 2.0 | 3.7 | 5.8 | |||||
| Cost of Liabilities (%) | 4.2 | 4.3 | 2.3 | 2.0 | 3.5 | |||||
| NIM (%) | 3.0 | 1.9 | 1.4 | 1.5 | 2.4 | |||||
| Interest Spread (%) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||
Performance Ratios | ||||||||||
| ROA (%) | -9.1 | -4.9 | 2.5 | 3.2 | 3.1 | |||||
| ROE (%) | -38.5 | -21.9 | 14.6 | 13.6 | 12.8 | |||||
| ROCE (%) | -23.7 | -10.3 | 8.9 | 9.2 | 11.0 | |||||
Efficiency Ratios | ||||||||||
| Cost to Income Ratio (%) | 116.8 | 104.6 | 96.9 | 95.7 | 94.5 | |||||
| Operating Costs to Assets (%) | 62.4 | 114.2 | 74.9 | 56.6 | 45.3 | |||||
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 0.0 | 0.0 | 4.4 | 3.1 | |||||
Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. It offers such products and services to its target market via a pan-India distribution network and proprietary technologies. The bank’s products and services include various current accounts and savings accounts (CASA), issuance of debit card and related transactions, facilitating domestic remittances, open banking functionality (via its Application Programming Interface (API)), withdrawing and depositing cash (via micro-ATM or Aadhaar Enabled Payment System AePS) and cash management services (CMS). Its merchants also leverage the customer relationships within their respective communities to facilitate it cross-selling other financial products and services such as third party gold loans, insurance, bill payments and recharges. It also manages a large BC network on behalf of other banks.
The bank is also the only payments bank to offer a subscription based savings account in India. Customer satisfaction, its brand and reputation have played an important role in it becoming an industry leader in fintech products and services, as well as to further developing its business and improving its market position. Additionally, by remaining focused on its payments business it is able to continue leveraging its deep market expertise which in turn helps it develop products and services that meet the needs of its target market. Its significant geographic coverage and position as a large-scale, leading technology-enabled company with a diverse banking product offering also provides economies of scale that yield significant operating efficiencies, supports future growth and also helps to diversify some of its risks, such as regional or geographical risks or concentration risks. The bank operates an asset light business model that principally relies on fee and commission based income generated from its merchant network and strategic commercial relationships. Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of its assisted-digital ecosystem, referred to as its ‘phygital’ delivery model (i.e., a combination of physical and digital).
Business area of the bank
The company is primarily engaged in providing technology-based solutions and services related to financial inclusion.
Products & other services
Major events and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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