NSE: SOUTHBANK · BSE: 532218
THE SOUTH INDIAN BANK LTD
Operates as a private sector commercial bank in India, taking deposits and lending across retail, corporate, treasury and digital banking. Based on segment data for the period ended 31 December 2024, retail banking outside digital channels accounted for 36.3% of segment revenue, corporate and wholesale banking 30.7%, treasury 20.0%, digital banking 8.6% and other banking operations 4.5%. The lending book spans gold loans, MSME, mortgage, home and auto segments, with gold loans growing 43% year-on-year as of Q1 FY27. It runs on a 948-branch, 9,147-employee network serving 8.3 million customers, and reported total assets of Rs 1,41,756.46 crore for FY26. Asset quality is comparatively clean, with gross NPA at 1.38% and net NPA at 0.26% as of Q1 FY27, while net interest margin stood at 3.23%. A new MD & CEO, Mahesh Muralidhar Pai, has received RBI approval for a three-year term starting 1 October 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other Retail Banking (36%), Corporate/Wholesale Banking (31%), Treasury (20%), Digital Banking (9%), Other Banking Operations (5%). Mid-tier private sector commercial bank
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | 45 | 775 | 1,070 | 1,303 | 1,456 |
| EPS, as reported (₹) | 0.21 | 3.70 | 5.10 | 4.98 | 5.56 |
| ROE % · ROCE % | — · — | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 4,352 | (7,261) | 7,075 | (2,353) | 3,907 |
| Capex | — | — | — | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | 440 | 463 | 459 | 433 | 473 | 504 | 547 | 508 |
| Net profit | 325 | 342 | 342 | 322 | 352 | 374 | 407 | 378 |
| EPS (₹) | 1.24 | 1.31 | 1.31 | 1.23 | 1.34 | 1.43 | 1.56 | 1.44 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HDFC BANK LTD | 10,47,596 | 13.2 | — | — | — | — | — | — |
| ICICI BANK LTD. | 9,95,059 | 17.7 | — | — | — | — | — | — |
| KOTAK MAHINDRA BANK LTD | 4,40,141 | 11.5 | — | — | — | — | — | — |
| AXIS BANK LIMITED | 3,75,069 | 13.5 | — | — | — | — | — | — |
| FEDERAL BANK LTD | 84,309 | 18.0 | — | — | — | — | — | — |
| IDBI BANK LIMITED | 83,869 | 9.0 | — | — | — | — | — | — |
| INDUSIND BANK LIMITED | 64,925 | 49.1 | — | — | — | — | — | — |
| IDFC FIRST BANK LIMITED | 61,475 | 27.4 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.4 | 12.3 | 7 of 20 | 68% |
| Profit growth | 17.2 | 29.5 | 16 of 20 | 21% |
| Market cap | 14187 | 41910 | 14 of 20 | 32% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Bank allots 752,831 shares under employee stock option scheme | capital market events | low | — | — |
| 22 Oct 2026 · SIB Q2 FY27 earnings: highest quarterly profit of INR426 cr, NIM up 53 bps YoY | investor communications | medium | — | — |
| 17 Oct 2026 · South Indian Bank revises MCLR rates across tenors effective Oct 20, 2026 | credit debt | medium | — | — |
| 16 Oct 2026 · Audio recording of investors and analysts conference call shared | investor communications | low | — | — |
| 16 Oct 2026 · Newspaper publication of Q2 FY27 unaudited results | compliance | minimal | — | — |
| 15 Oct 2026 · South Indian Bank reshuffles senior management roles | management changes | high | — | — |
| 15 Oct 2026 · South Indian Bank designates SIB Tower Kakkanad as Corporate Office | general | low | — | — |
| 15 Oct 2026 · South Indian Bank Q2 FY27 investor presentation shows strong performance | investor communications | medium | — | — |
| 15 Oct 2026 · South Indian Bank posts record Q2 net profit of Rs 426 Cr, up 21% | compliance | low | — | — |
| 15 Oct 2026 · South Indian Bank Q2 FY27 results, net profit up 21 percent YoY | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.