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South Indian Bank Ltd share Price Today

Company details

27.85
28.50
15.25
36.88
6M Return 23.57%
1Y Return 82.59%
Mkt Cap.(Cr) 7,350.75
Volume 13,981,802
Div Yield 1.06%
OI
-
OI Chg %
-
Volume 13,981,802

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South Indian Bank announced consolidated FY24 results:

  • Highest ever Business of Rs 1,82,346 crore in the history of the Bank
  • Highest ever Net Profit of Rs 1,070.08 crore in the history of the Bank
  • Highest ever Net Interest Income of Rs 3,332.06 crore in the history of the Bank
  • Highest ever CRAR of 19.91% in the history of the Bank
  • Highest ever Provision Coverage Ratio (including write off) of 79.10%
  • NIM of 3.31% in the last 18 years
  • Return on Assets of 0.91% in the last 10 years
  • Return on Equity of 12.13% in the last 10 years
  • Retail Deposit grew by Rs 8,128 crore from Rs 89,615 crore to Rs 97,743 crore YoY showing an increase of 9.07% on YoY basis
  • NRI Deposit grew by Rs 1,538 crore from Rs 28,159 crore to Rs 29,697 crore YoY showing an increase of 5.46% on YoY basis
  • Operating Profit of the year increased by 23.91% from Rs 1,507.33 crore in FY23 to Rs 1,867.67 crore in FY 24
  • GNPA came down by 64 bps from 5.14% to 4.50% on YoY basis
  • NNPA came down by 40 bps from 1.86% to 1.46% on YoY basis
  • The Board of Directors had recommended 30% dividend subject to approval of the Share Holders in AGM. 
  • CASA grew by 8.16% on a YoY basis with growth in Savings Bank by 5.45% and CD by 21.84% respectively 
  • Gross advances grew by Rs 8,334 crore from Rs 72,092 to Rs 80,426 crore showing an increase of 11.56% on YoY basis

Seshadri, MD & CEO of the Bank, while announcing the results, stated that the strategy adopted by the Bank continues to enable the business performance. During the period, Bank registered growth in all the desired segments with a focus on quality asset across all verticals Corporate, SME, Auto Loan, Credit Card, Personal Loan, Gold Loan etc.

He also stated that, in line with the strategic intent of the Bank viz, “Profitability through quality credit growth”, the Bank could on board fresh advances with low risk profile.

Result PDF

View Other Company Results

South Indian Bank Ltd shares SWOT Analysis

Strengths (9)

  • Rising Net Cash Flow and Cash from Operating activity
  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Weakness (2)

  • Red Flag: High Interest Payments Compared to Earnings
  • MFs decreased their shareholding last quarter

Opportunity (4)

  • Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PE
  • Street Favorite: High Analyst Rating with at least 20% upside
  • Decrease in Provision in recent results

Threats (1)

  • Increase in NPA in Recent Results

Resistance and support

R1 28.5
R2 28.8
R3 29.1
Pivot

28.15

S1 27.8
S2 27.5
S3 27.2
EMA SMA
28.2
28.6
28.0
25.7
28.5
28.5
29.0
25.8
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED Bulk Purchase 2024-04-08 28.78 17668000 BSE
COPTHALL MAURITIUS INVESTMENT LIMITED Bulk Sell 2024-04-08 28.78 17668000 BSE
NORGES BANK ON ACCOUNT OF THE GOVERNMENT PENSION FUND GLOBAL Bulk Purchase 2024-03-15 29.35 15782629 NSE
Name Category Shares
HUF PUBLIC 2.44%
Yusuffali Musaliam Veetil Abdul Kader PUBLIC 4.32%

OUR RESEARCH VIEW

Investment recommendation
Post transformation, focus on growth to drive valuation
Call Date
22 Apr 2024
Entry Price 27.40
Target Price 35.00
Duration
12 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

South Indian Bank Ltd Stocks COMPARISON

Financials( in Cr) South Indian Bank Ltd HDFC Bank Ltd ICICI Bank Ltd State Bank of India Axis Bank Ltd
Price 28.10 1,459.20 1,111.10 818.75 1,126.00
% Change -0.53 0.03 -0.88 -1.43 -1.02
Mcap Cr 7,350.75 1,108,541.25 780,251.75 730,702.61 347,547.78
Revenue TTM Cr 7,233.18 170,754.05 121,066.81 350,844.58 87,448.37
Net Profit TTM Cr 775.31 46,148.70 34,463.03 56,558.43 10,852.66
PE TTM 6.92 17.29 17.80 10.24 13.31
1 Year Return 82.59 -11.08 16.91 41.86 22.72
ROCE 0.00 0.00 0.00 0.00 0.00
ROE 12.34 17.20 17.66 18.44 8.75
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 6,674.73 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 41,960.24 -29,509.50
LAST 3M 102,987.80 -35,737.56
LAST 6M 169,824.52 46,518.61
LAST 12M 263,691.56 126,663.80
The South Indian Bank Limited - Outcome of Board Meeting

May 21, 2024 l NSE Announcement

The South Indian Bank Limited - Outcome of Board Meeting

May 18, 2024 l NSE Announcement

NSE Board Meetings Forthcomming

May 18, 2024 l NSE Board Meetings Forthcomming

Date Action Type Ratio
Aug 17, 2023 Dividend 30

South Indian Bank Ltd Information

Stock PE (TTM)
6.92
Promoter Holding
0%
Book Value
33.7292
ROE
12.34%
Description
  • One of the oldest banks in South India, The South Indian Bank (SIB) came into being during the Swadeshi movement. The South Indian Bank Limited was incorporated on 29 January 1929 at Thrissur as a private limited company and was later converted into a public limited company on 11 August 1939. SIB was set up by a group of enterprising men who joined together at Thrissur to provide the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy moneylenders on the other by providing need based credit at reasonable rates of interest. SIB provides retail and corporate banking, Para banking activities such as debit card, third party product distribution, in addition to Treasury and Foreign Exchange Business. As on 31 December 2020, the Bank had a network of 877 Branches and 1443 ATMs across the country. The first branch outside Kerala was opened by the bank in Coimbatore during the year 1941. SIB, the first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. During the year 1963, the bank took over the assets and liabilities of Kshemavilasam Banking Company Ltd and the Ambat Bank Pvt Ltd, Chittur, Kerala. The year 1964 was notable one in the saga of SIB; the bank had acquired ten banks in the single year of 1964 itself, the list of banks include Public Bank Ltd, Suburban Bank Pvt Ltd, Vijalakshmi Bank Pvt Ltd, Chalakudy Bank Ltd, Mukkattukara Catholic Bank Ltd, Assyrian Charities Banking Company Ltd, The Catholic Syrian Christian Bank Ltd, Malabar Bank Ltd, Bharata Union Bank Ltd and Kozhuvanal Bank Ltd. SIB made its entry into merchant banking activities by supporting/underwriting 99 new issues in the year 1990. A Currency Chest activity of the bank on behalf of the RBI was started to execute in April of the year 1992. Also during the same year of 1992, SIB unlocked a NRI branch in November and developed an in-house, a fully integrated branch automation software in addition to the in-house partial automation solution operational. During the year 1993, the bank started an Industrial Finance Branch in the month of March and opened an `Overseas Branch` to cater exclusively to the export and import business in June of the same year 1993. Initial Public Offering of the bank was made and went to public in the year 1998. The Sibertech (Technology Promotion Drive of South Indian Bank) project, a comprehensive and centralized banking solution was launched by the bank in 2001 and also SIB entered into alliance with three exchange houses in the Gulf during the identical year of 2001. A tie-up was made by the bank with insurance player in the year 2002 for the distribution of the products of the insurance company. The Internet banking facility, namely Sibernet was introduced by the bank to its customers in the year 2003 and also made an agreement with Master Card International to launch Maestro, the Global ATM/Debit Card. During the year 2004, the bank had celebrated 75 years of its existence. The Follow on Public Offering of the company was made in the year 2005. The Bank won a special award for excellence in Banking Technology from IDRBT (Institute for Development and Research in Banking Technology) in September of the year 2006. In financial year 2006, SIB opened 21 new branches (including up gradation of 15 extension counters) and 11 new extension counters. To spread out the ATM reach, the bank has tied up with Master Card Inc for Global debit and ATM card operations. During FY2006, the Bank came out with a Follow - on Public Offer of 2,27,27,272 equity shares of Rs. 10/- each at a premium of Rs.56/- per share aggregating to Rs.150 crores through Book-Building route taking the issued capital of the Bank to Rs.70.41 crores. The issue opened on 10th February and closed for subscription on 15th February 2006. ICICI Bank Ltd., a strategic investor in the bank, who was holding 4722786 shares representing 6.71% of the paid up capital in the Bank in the beginning of March 2006, made an exit from the Bank by divesting its entire shareholding in March 2006. In FY2006, the bank launched net banking as well as SMS based mobile banking enabling its customers to conduct cheaper and quicker mode of banking activities. The bank has achieved 100% Core Banking Solutions by 24th March of the year 2007. Further to strengthen the ATM reach and global acceptability Bank has introduced Master Card Global Debit- cum- ATM card, which can be used at ATMs and merchandise all over the world. SIB has emerged as the Best Performer in Asset Quality category in Analyst 2008 Survey of Indian Banks among private sector banks which include both the new generation and the traditional banks in India. During FY 2014, SIB opened 54 new branches and 200 ATMs across the country. The Bank has been successful in widening its presence pan India with 794 branches and 9 service branches. The branch network now covers 29 states / union territories and has a network of 1000 ATMs. The Internet banking service under the brand name `SIBerNet` has helped to position the Bank as a technology-driven bank offering superior services to both retail and corporate customers. Fund Transfer (RTGS (Real Time Gross Settlement) / NEFT (National Electronic Fund Transfer), online bill payments, donations to temples etc., are a few of the services offered through SIBerNet. In addition to these, the bank has also introduced Direct and Indirect Tax Payment facility for its retail and corporate Customers during FY2014. In FY2014, the bank launched new Banking channel, viz., Kiosk Banking Model. Kiosk Banking Model is a new channel of banking model in which the basic banking services are delivered at customer end. Kiosk Centres offer basic banking services to potential customers like Customer enrolment, Deposits, Withdrawal, Fund transfers, Balance enquiry, FD, RD remittance etc. Customers can open new Basic Savings Account in the Kiosk Centre by providing KYC documents and biometrics. They can do banking transactions without a cheque leaf or ATM card. In FY2014, the bank tied up with M/s. CSC e-Governance India Ltd. to provide Kiosk Banking services to customers. Initially the bank has implemented Kiosk Banking Model in the state of Kerala through Akshaya centres, who are acting as Common Service Centres in the state. In FY 2016, the bank has entered into tie up with leading aggregator M/s. Billdesk Services for Centralized Direct Debit arrangement. Through this tie up, the bank`s customers will be able to make regular payments like monthly/quarterly/ half yearly payments of Mutual Fund SIP Investments/Loan EMIs (vehicle/equipment loans)/ Insurance premium, etc. by directly debiting their account and thereby making payments to various billers/institutions. Besides, the bank has similar arrangements with 3 companies- TVS Credit Services, Sundaram Finance Ltd and Shriram City Union Finance. SIB opened 26 new offices (16 branches and 10 extension counters) and 51 ATMs and 14 CRMs (Cash Recycler Machines) across the country during the financial year 2016-17. The branch network now covers 30 States/Union Territories. During FY 2017, SIB successfully raised capital by way of issue of 45.07 crore Equity Shares of face value of Re.1/- each for cash at a price of Rs 14/- per Equity Share (including a premium of Rs 13/- per Equity Share) aggregating to Rs 630.99 crores to the eligible equity shareholders of the bank on rights basis in the ratio of one equity share for every three equity shares held. During FY17, the bank launched the Reloadable Prepaid Cards, which can be used for Point of Sales (POS), Online as well as for ATM Transactions. These cards can be reloaded any number of times as per the choice of the customer. In addition, it launched the credit cards in association with one of the major players in Indian Credit Card industry, M/s SBI cards co-branded credit cards. The bank can offer the SIB-SBI (South Indian Bank- State Bank of India) Co-branded Credit cards to customers who come under the selected/designated branches across India. The SIB-SBI Co-branded Credit Cards are available in two variants - SimplySAVE Credit Card and Platinum Credit Card. The bank launched premium variant of Visa Card i.e. Visa Platinum Near Field Communication (NFC) Card which is enabled with NFC technology which permits contactless transactions at NFC enabled POS terminals. In FY2017, the bank introduced its new mobile banking application SIB Mirror to provide a next generation digital banking experience. The new app, which is available to both Domestic and (Non- Resident Indian) NRI customers, is packed with features such as Self Registration facility, E-statement, Bill Payment module, within bank, NEFT (National Electronic Fund Transfer) & IMPS (Immediate Payment Services) 24X7 fund transfer, e-lock, Mobile/DTH (Direct-to-home) Recharge, Social Money etc. SIB opened 10 new outlets (4 Branches and 6 Extension Counters), 60 ATMs and 4 CRMs across the country during the financial year 2017-18. During the FY 2018, SIB tied up with Kotak Mahindra Life Insurance Ltd. and SBI Life Insurance Co. Ltd. in addition to its existing partner Life Insurance Corporation of India. As the second partner for General Insurance in addition to Bajaj Allianz General Insurance Co. Ltd., the bank tied-up with The New India Assurance Co. Ltd. The bank launched a new online mutual fund platform `SIB e-Invest` to facilitate online purchase & sale of mutual funds has been introduced for branches. During the FY 2018-19, the Bank introduced eight new loan products, of which most of them were launched to give thrust to MSME sector. In addition to the above, the Bank has revamped `Supply Chain Finance` which is supported by a robust Supply Chain Management Solution, which could be accessed via URL by vendors, dealers and corporates along with the bank user for real time entry, monitoring and disbursement of credits. SIB opened 18 new outlets (16 Branches and 2 Extension counters) 36 ATMs and 7 CRMs across the country during the financial year 2018-19. During the year 2019, the Bank had closed 18 ATMs, 1 CRM and replaced 27 ATMs with CRMs. During the FY2020, the Total Deposits of the Bank increased from Rs 80,420.12 crore to Rs 83,033.89 crore, registering a growth of 3.25%. During the year, the gross advance of the Bank registered a growth of 2.97%, to touch Rs 65,524.02 crore. During the year, the bank allotted Non-Convertible, unsecured, Basel III Compliant Tier I bonds aggregating to Rs 500 crore on 24.01.2020. The Bank has been successful in widening its network across India with 935 banking outlets (875 Branches, 54 Extension Counters, 3 satellite branches and 3 Ultra small branches) and 1,424 ATMs/CRMs. The Bank opened 7 new outlets (5 Branches and 2 Extension counters) and 37 ATMs/CRMs across the country during the financial year 2019-20. During the FY2020, the bank bagged the Best MSME Bank (Private Sector) Award by ASSOCHAM in connection with 7th MSME National Excellence Awards-2019. orporate Social Responsibility (CSR) Excellence Award, 2019 instituted by Rotary District 3201 for carrying out CSR project in the area of Education for Underprivileged. Also received 6 awards at the IBA Banking Technology Awards, 2020.

Registered Address

SIB House T B Road, Mission Quarters, Thrissur, Kerala, 680001

Tel : 91-487-2420020
Email : ho2006:sib.co.in; sibcorporate:sib.co.in
Website : http://www.southindianbank.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 532218
NSE Code : SOUTHBANK
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE683A01023

FAQ’s on South Indian Bank Ltd Shares

You can buy South Indian Bank Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy South Indian Bank Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 22, 2024 03:59 PM the closing price of South Indian Bank Ltd was Rs.28.10.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 22, 2024 03:59 PM, the market cap of South Indian Bank Ltd stood at Rs. 7,350.75.

The latest PE ratio of South Indian Bank Ltd as of May 22, 2024 03:59 PM is 6.92

The latest PB ratio of South Indian Bank Ltd as of May 22, 2024 03:59 PM is 1.19

The 52-week high of South Indian Bank Ltd share price is Rs. 36.88 while the 52-week low is Rs. 15.25

According to analyst recommendations, South Indian Bank Ltd Share has a "Buy" rating for the long term.

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