IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 72310.31 Crore).
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 9199.71 Crore, up 3.52 % from last quarter Total Income of Rs 8887.28 Crore and up .45 % from last year same quarter Total Income of Rs 9158.80 Crore. The bank reported net profit after tax of Rs 926.07 Crore in latest quarter.
Investment Rationale
NRI and affluent banking, tractor financing have acted as growth catalysts for this fiscal. The bank’s yield margins are expected to improve due to exposure to relatively risky assets. However the overall asset quality stress is well in-line with the risk-return expectations of the investors. Hence the brokerage upgrades rating to BUY with a revised target price of Rs. 1,072 using 1.5x FY23E BVPS.
Promoter/FII Holdings
Promoters held 16.6 per cent stake in the company as of March 31, 2021, while FIIs held 50.9 per cent, DIIs 18.1 per cent and public and others 14.5 per cent.
