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Companies›Financial Services›Financial Services›Capital Markets
NSE:INDBANK

INDBANK MERCH BANK

Financial Services › Capital Markets
₹23.88
at close · 28 Oct 2026
▼ 0.21 (-0.87%)

Latest filings

  1. Routine compliance certificate under SEBI DP Regulations for Q2 FY26 · Compliance
  2. Newspaper publication of Q2 FY27 financial results · Compliance
  3. Q2 FY27 results: PAT at Rs.161.49 lakh; revenue up slightly YoY · Results
All filings ↓
Ask Nexa about INDBANK MERCH BANK

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

A capital markets subsidiary of Indian Bank, classified as Stockbroking & Allied, earns revenue from fees and commissions on stockbroking and merchant banking services and is listed on BSE (scrip 511473) and NSE (scrip INDBANK). In Q1 FY27, fees and commission income were Rs 493.23 lakh, with revenue from operations of Rs 690.35 lakh as filed (a separately submitted 'revised' filing reports Rs 456.64 lakh) and total income of Rs 589.48 lakh. For FY26, revenue from operations was Rs 712.48 lakh, down from Rs 1,149.93 lakh in FY25, with profit after tax of Rs 701.73 lakh and operating cash flow of Rs 204.64 lakh. Employee costs are the largest expense at 37% of revenue, followed by other operating expenses at 17.6%, while materials are 0% of revenue. Total assets stood at Rs 123.1393 crore in FY26. Q1 FY27 results show a roughly 43% YoY drop in PBT to Rs 177.34 lakh in the revised filing.

Operating scale
Fees and commission income
Rs 493.23 lakhQ1 FY27
Revenue from operations
Rs 712.48 lakhFY26
Total assets
Rs 123.1393 croreFY26
Employee cost share of revenue
37%FY26
Listed on
BSE (511473) and NSE (INDBANK)
Parent
Subsidiary of Indian Bank
Who pays it
Clients using stockbroking, merchant banking and related capital markets services.
Biggest cost
Employee costs at 37% of revenue, with no raw materials cost.
Kind of business
Fee-based, employee-intensive capital markets services.
Where it sits
Capital Markets / Stockbroking & Allied, subsidiary of Indian Bank, listed on BSE and NSE.
Market Cap
₹106 Cr
P / E (TTM)
14.4×
EV / EBITDA
—
Div Yield
—
Growth
15.9%▲
Revenue 5y CAGR
PAT +11.9% · EBITDA +8.9%
Quality
—·
ROCE (FY26)
ROE 9.2% (5y median) · margin 40.1%
Leverage
—·
Debt / Equity · borrowings not filed
Revenue FY21→FY26
2.1×▲
Margin −5.4 pts
₹12 Cr → ₹25 Cr
Cash conversion
0.41×▼
Operating cash ÷ profit · 5 yrs
₹14 Cr on ₹35 Cr
Moves on a normal day
1.16%·
Median daily move
Last 268 sessions · the yardstick for filing-day moves
Where it sits among 41 Stockbroking & Allied peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#14/33
P/B#10/40
ROE#23/40
EBITDA margin#14/39
Revenue growth#24/35
Profit growth#20/38

Scorecard

Measured from the filed financials, judged against its Stockbroking & Allied peers · as of FY26 — not investment advice

Strengths
Revenue compounding 16% a year over 5 years
Concerns
Erratic profits — up in only 2 of the last 5 years
Over 5 years it reported ₹35 Cr of profit and ₹14 Cr of operating cash — 0.41×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

INDBANK · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from INDBANK MERCH BANK's filed financials and exchange disclosures

What does INDBANK MERCH BANK do?

INDBANK MERCH BANK is a Capital Markets company listed on NSE and BSE, trading under the symbol INDBANK.

Is INDBANK MERCH BANK profitable?

Yes. Over the trailing twelve months INDBANK MERCH BANK reported a net profit of ₹7.36 Cr on revenue of ₹25 Cr.

Does INDBANK MERCH BANK pay a dividend?

Not in the latest reported year — INDBANK MERCH BANK's dividend payout for FY26 was nil.

Is INDBANK MERCH BANK expensive compared with its peers?

On trailing P/E, INDBANK MERCH BANK ranks 14 of 33 in Stockbroking & Allied — cheaper than 59% of them, against an industry median of 15.0×. This is a position, not a valuation judgement.

How much does the INDBANK MERCH BANK share price move in a day?

On a typical session INDBANK MERCH BANK moves 1.16% — that is the median absolute close-to-close move across its last 268 trading days. MarketPing measures each filing's price reaction against it.

Where can I track INDBANK MERCH BANK's announcements?

Every NSE and BSE filing by INDBANK MERCH BANK appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.