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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 0.7x - 0.8x | 0.8x |
Selected Fwd Ps Multiple | 0.4x - 0.4x | 0.4x |
Fair Value | ₹22.39 - ₹24.75 | ₹23.57 |
Upside | -8.7% - 0.9% | -3.9% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
IDBI Bank Limited | - | NSEI:IDBI |
The Karur Vysya Bank Limited | - | NSEI:KARURVYSYA |
ICICI Bank Limited | - | NSEI:ICICIBANK |
Suryoday Small Finance Bank Limited | - | NSEI:SURYODAY |
IDFC First Bank Limited | - | NSEI:IDFCFIRSTB |
ESAF Small Finance Bank | 54,402,000.0% | BSE:544020 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
IDBI | KARURVYSYA | ICICIBANK | SURYODAY | IDFCFIRSTB | 544020 | |||
NSEI:IDBI | NSEI:KARURVYSYA | NSEI:ICICIBANK | NSEI:SURYODAY | NSEI:IDFCFIRSTB | BSE:544020 | |||
Historical Sales Growth | ||||||||
5Y CAGR | NM- | 19.6% | 14.8% | 24.9% | 46.0% | 30.8% | ||
3Y CAGR | 22.9% | 23.4% | 14.0% | 43.9% | 36.3% | 42.1% | ||
Latest Twelve Months | 12.5% | 21.6% | 27.1% | 25.4% | 8.7% | -30.7% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 25.0% | 24.9% | 25.2% | 4.5% | -0.5% | 12.1% | ||
Prior Fiscal Year | 33.9% | 31.9% | 29.1% | 12.8% | 17.0% | 18.5% | ||
Latest Fiscal Year | 41.0% | 33.9% | 31.0% | 21.3% | 15.4% | 19.2% | ||
Latest Twelve Months | 44.9% | 35.1% | 28.0% | 18.2% | 9.7% | -19.2% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | NA | NA | NA | NA | NA | NA | ||
Price / LTM Sales | 5.2x | 3.1x | 5.4x | 0.9x | 2.0x | 0.8x | ||
LTM P/E Ratio | 11.6x | 8.9x | 19.4x | 5.1x | 20.9x | -4.3x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 0.9x | 3.1x | 5.4x | |||||
Historical LTM P/S Ratio | 0.0x | 0.0x | 1.3x | |||||
Selected Price / Sales Multiple | 0.7x | 0.8x | 0.8x | |||||
(x) LTM Sales | 15,354 | 15,354 | 15,354 | |||||
(=) Equity Value | 11,129 | 11,715 | 12,300 | |||||
(/) Shares Outstanding | 515.1 | 515.1 | 515.1 | |||||
Implied Value Range | 21.60 | 22.74 | 23.88 | |||||
FX Rate: INR/INR | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 21.60 | 22.74 | 23.88 | 24.53 | ||||
Upside / (Downside) | -11.9% | -7.3% | -2.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | IDBI | KARURVYSYA | ICICIBANK | SURYODAY | IDFCFIRSTB | 544020 | |
Value of Common Equity | 835,462 | 168,451 | 9,528,714 | 10,661 | 402,394 | 12,636 | |
(/) Shares Outstanding | 10,752.4 | 805.1 | 7,066.9 | 106.3 | 7,321.6 | 515.1 | |
Implied Stock Price | 77.70 | 209.24 | 1,348.35 | 100.31 | 54.96 | 24.53 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 77.70 | 209.24 | 1,348.35 | 100.31 | 54.96 | 24.53 | |
Trading Currency | INR | INR | INR | INR | INR | INR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |