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

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

South Indian Bank Overview

Company Name South Indian Bank
Listed at NSE & BSE
Head Office The 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 Website southindianbank.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/E 6.73
Book Value ₹ 25.5
Dividend Yield 1.08 %
ROCE 6.47 %
ROE 16.0 %
Face Value ₹ 1.00
Debt to equity 14.8
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 percentage 0.00 %
FCF Prev Ann ₹ -7,370 Cr.
EVEBITDA 14.5
Industry PE 11.6
PEG Ratio 0.20
Piotroski score 5.00
Earnings yield 6.89 %

South Indian Bank  Quarterly Results

Metric Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 1,635 1,622 1,740 1,898 1,973 2,025 2,129 2,184 2,275
Interest 1,038 1,018 1,014 1,073 1,116 1,217 1,298 1,365 1,400
Expenses 591 672 735 629 680 877 777 837 828
Financing Profit 6 -69 -9 196 177 -70 53 -18 47
Financing Margin (%) 0% -4% 0% 10% 9% -3% 3% -1% 2%
Other Income 204 246 255 -34 345 361 356 452 346
Depreciation 0 0 0 0 0 0 0 0 0
Profit before tax 210 177 246 162 523 292 409 435 393
Tax % -29% 35% 9% 36% 36% 31% 33% 30% 27%
Net Profit 272 115 223 103 334 202 275 305 288
EPS in Rs 1.04 0.44 0.85 0.39 1.28 0.77 1.05 1.17 1.10
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 Years 5 Years 3 Years TTM
Compounded Sales Growth 6% 5% 6% 19%
Compounded Profit Growth 8% 34% 159% 38%
Stock Price CAGR 3% 17% 43% 87%
Return on Equity 7% 7% 10% 16%

South Indian Bank Shareholding Pattern

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
FII Holding (%) 7.82 14.88 14.58 13.59 15.00 14.68 15.17
DII Holding (%) 11.64 6.87 7.64 7.84 6.59 7.61 4.61
Public Holding (%) 80.54 78.22 77.77 78.57 78.40 77.70 80.20
No. of Shareholders 6,97,657 6,95,022 7,09,877 7,15,015 8,09,664 8,88,397 11,04,003

South Indian Bank Share Price Target 2024-2030 Forecast

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

South Indian Bank Share Price Target 2025

Month Share 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

Month Share 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

Month Share 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

Month Share 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

Month Share 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

Month Share 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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