South Indian Bank Share Price Target 2024-2030 Fundamentals & Quarterly Results

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South Indian Bank Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results –Having a customer base of more than 7 million customers in India makes South Indian Bank to be one of the Banks that are most relied upon in Kerala and also the South India. It has a long past dating back to pre-independence era of India as a scheduled bank and became Kerala’s initial privately owned bank that received a scheduled bank license from RBI in 1957.South Indian Bank Share Price Target-Recovered

Latest  Update – In the first quarter of fiscal year 25, operating profit rose by 3.56 per cent from ₹490.24 crore to ₹507.68 crore, respectively. Additionally, gross NPAs dropped by63 basis points to 4.5% whereas net NPAs fell by41 basis points to 1.44%. However, net interest income surged from ₹807.77 crore to ₹865.77 crore (7.18% growth).

South Indian Bank Overview

Company NameSouth Indian Bank
Listed atNSE & BSE
Head OfficeThe South Indian Bank Ltd, “SIB House”, Mission Quarters P.B No.28, T.B Road, Thrissur- 680 001, Kerala
Board Of Directors
  • Mrs.Lakshmi Ramakrishna Srinivas Independent Director
  • Mr.Pradeep M Godbole Independent Director
  • Mr.M George Korah Independent Director
  • Mr.R A Sankara Narayanan Independent Director
  • Mr.P R Seshadri Managing Director & CEO
  • Mr.Paul Antony Non Executive Director
  • Mr.Benny P Thomas Non Executive Director
  • Mr.V J Kurian Part Time Chairman & Independent Director
Official Websitesouthindianbank.com

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South Indian Bank Business Profile

In 1929, South Indian Bank was established as the first ‘scheduled bank’ among all the private banks that operate in Kerala. The bank has a strong network in south India, particularly in Kerala. Besides providing corporate banking and retail banking services, South Indian Bank offers para-banking activities including debit card, third party financial product distribution as well as Treasury and Foreign Exchange Business.

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Branch Network

The bank operates 948 branches and 1,315 ATMs in India. Most of its branches are located in semi-urban areas (460) in the country and has 75 lakhs people as its customer base.

Loan Book

According to the report, 38% of the total loan book is made up of corporate loans, followed by personal loans at 23%, business loans at 20%, and agricultural loans at 19%. In the personal segment, housing loans account for 29% while gold loans make up 19%, personal loans make 12%, mortgages account for 11%, and vehicles come at 9%, deposit-based loans comprise 8%, credit card borrowing accounts for another 8%, with remaining sectors making up 4% of all loans. Over 96% of large corporates borrow at an annual interest rate of 8% or more.

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Loan Book Concentration

Majority of the bank’s business lies in the state of Kerala. 36% of advances are sanctioned within the state as on Dec 24, 34% of advance are sanctioned in South excluding kerala and remaining 30% of advance are sanctioned to Rest of India.

Fund yield was 7.53% and fund cost was 4.71% in Q3FY24, while loan yield was 9.28% compared to 5.18% cost of deposits.

Retail Term : 64%
Savings : 26%
Current : ~6%
Bulk : 4%

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Rights Issue

The shareholders of South Indian Bank will soon have the opportunity to benefit from the approval given last week by the board to increase the value of their assets through a rights issue where it will offer 31.25 million shares at a price of Rs 36.89 each.

Bank issued and alloted 5,23,18,5254 equity shares @ Rs.22 in ratio of 1:4 on march 24th. The company intends to stop opening any new co-branded credit card accounts with fresh customers effective from March 24, until it is fully compliant with RBI’s regulatory policies.

Recent Updates

In Q3FY24 the bank identified certain irregularities in a branch out of which one was fraud and also quantified the loss at about~Rs. 2,863 Lakhs. This amount~Rs. 2,863 Lakhs was indeed provided by the bank during Q3FY24.

South Indian Bank has revealed along Federal Bank in their most recent filing in the stock exchange that they have been instructed by the RBI not to embark on fresh co-branded credit cards and products. The two banks have noted that no customer in this segment will be affected by the directive issued. Such information made the South Indian Bank’s stock go further down in the market.

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South Indian Bank Fundamentals & Quarterly Results

Market Cap₹ 7,189 Cr.
Current Price₹ 27.5
High / Low₹ 36.9 / ₹ 14.9
Stock P/E6.73
Book Value₹ 25.5
Dividend Yield1.08 %
ROCE6.47 %
ROE16.0 %
Face Value₹ 1.00
Debt to equity14.8
Debt Capacity-8.32
Debt preceding year₹ 98,645 Cr.
Debt₹ 98,645 Cr.
Reserves₹ 6,465 Cr.
EPS₹ 4.09
EPS last year₹ 4.09
Pledged percentage0.00 %
FCF Prev Ann₹ -7,370 Cr.
EVEBITDA14.5
Industry PE11.6
PEG Ratio0.20
Piotroski score5.00
Earnings yield6.89 %

South Indian Bank  Quarterly Results

MetricMar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue1,6351,6221,7401,8981,9732,0252,1292,1842,275
Interest1,0381,0181,0141,0731,1161,2171,2981,3651,400
Expenses591672735629680877777837828
Financing Profit6-69-9196177-7053-1847
Financing Margin (%)0%-4%0%10%9%-3%3%-1%2%
Other Income204246255-34345361356452346
Depreciation000000000
Profit before tax210177246162523292409435393
Tax %-29%35%9%36%36%31%33%30%27%
Net Profit272115223103334202275305288
EPS in Rs1.040.440.850.391.280.771.051.171.10
Gross NPA %5.90%5.87%5.67%5.48%5.14%5.13%4.96%4.74%4.50%
Net NPA %2.97%2.87%2.51%2.26%1.86%1.85%1.70%1.61%1.46%

CAGR Report

10 Years5 Years3 YearsTTM
Compounded Sales Growth6%5%6%19%
Compounded Profit Growth8%34%159%38%
Stock Price CAGR3%17%43%87%
Return on Equity7%7%10%16%

South Indian Bank Shareholding Pattern

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
FII Holding (%)7.8214.8814.5813.5915.0014.6815.17
DII Holding (%)11.646.877.647.846.597.614.61
Public Holding (%)80.5478.2277.7778.5778.4077.7080.20
No. of Shareholders6,97,6576,95,0227,09,8777,15,0158,09,6648,88,39711,04,003

South Indian Bank Share Price Target 2024-2030 Forecast

YearShare Price Target
2024₹35
2025₹42
2026₹50
2027₹60
2028₹70
2029₹85
2030₹100

South Indian Bank Share Price Target 2025

MonthShare Price Target
January₹35
February₹34
March₹35
April₹36
May₹30
June₹37
July₹38
August₹37
September₹38
October₹39
November₹40
December₹42

South Indian Bank Share Price Target 2026

MonthShare Price Target
January₹42
February₹42
March₹41
April₹43
May₹44
June₹44
July₹45
August₹44
September₹39
October₹43
November₹47
December₹50

South Indian Bank Share Price Target 2027

MonthShare Price Target
January₹49
February₹50
March₹49
April₹50
May₹52
June₹53
July₹54
August₹55
September₹57
October₹56
November₹58
December₹60

South Indian Bank Share Price Target 2028

MonthShare Price Target
January₹59
February₹61
March₹60
April₹60
May₹62
June₹64
July₹63
August₹60
September₹65
October₹66
November₹68
December₹70

South Indian Bank Share Price Target 2029

MonthShare Price Target
January₹75
February₹70
March₹54
April₹55
May₹59
June₹64
July₹63
August₹69
September₹75
October₹70
November₹74
December₹80

South Indian Bank Share Price Target 2030

MonthShare Price Target
January₹85
February₹80
March₹77
April₹79
May₹82
June₹85
July₹89
August₹90
September₹95
October₹92
November₹98
December₹100

Official Website – southindianbank.com

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