IndusInd Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 75514.90 Crore).
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 9362.76 Crore, up 1.77 % from last quarter Total Income of Rs 9199.71 Crore and up 7.84 % from last year same quarter Total Income of Rs 8682.17 Crore. The bank reported net profit after tax of Rs 1016.05 Crore in latest quarter.
Investment Rationale
Fresh slippages stood at INR27.6b (annualized 5.2% of loans), predominantly led by Retail (INR23.4b), with higher slippages in the MFI/Vehicle segment. This was largely due to the hampering of collections over Apr-May’21. The GNPA/NNPA ratio increased by 21bp/15bp to 2.88%/0.84%, while PCR stood healthy at 71.6%. Restructured book increased to 2.7% of loans (v/s 2% in FY21). Healthy coverage and contingent provisioning buffer at 1% of loans provides comfort. The brokerage maintains earnings estimate for FY22E/FY23E.
Promoter/FII Holdings
Promoters held 15.2 per cent stake in the company as of June 30, 2021, while FIIs held 56 per cent, DIIs 16.3 per cent and public and others 12.5 per cent.
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