INDBANK MERCH BANK (INDBANK) financials

INDBANK MERCH BANK (INDBANK) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in 1989, Indbank Merchant Banking Services Ltd. is engaged in Merchant Banking, Stock Broking, Depository Participant and allied activities.

Market Cap: ₹116Cr.
Current Price: ₹25.6
Stock P/E: 16.5
ROE: 7.34%
ROCE: 10.3%
Book Value: ₹23.2
Dividend Yield: 0.00%
52W High / Low: ₹43.4/24.2

In Sep 2026, INDBANK MERCH BANK (INDBANK) reported sales ₹6.36 Cr and net profit ₹1.61 Cr.

Annual TTM: sales ₹25.40 Cr, net profit ₹7.12 Cr.

Shareholding: Promoters 64.84% (Jun 2026), FIIs 0.00% (Jun 2026), DIIs 0.09% (Jun 2026), Public 35.07% (Jun 2026), No. of Shareholders 49,528% (Jun 2026).

INDBANK quarterly results (₹ Cr.)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	5.63	5.31	6.69	6.28	6.25	5.89	6.90	6.36
Expenses	3.60	3.65	3.78	3.63	3.59	4.06	3.74	4.08
Operating Profit	2.03	1.66	2.91	2.65	2.66	1.83	3.16	2.28
OPM %	36.06%	31.26%	43.50%	42.20%	42.56%	31.07%	45.80%	35.85%
Other Income	0.02	0.00	0.00	0.01	0.00	0.13	0.00	0.04
Interest	0.05	0.04	0.07	0.09	0.02	0.01	0.01	0.03
Depreciation	0.11	0.10	0.06	0.06	0.06	0.07	0.07	0.07
Profit before tax	1.89	1.52	2.78	2.51	2.58	1.88	3.08	2.22
Tax %	38.10%	25.00%	23.02%	26.29%	25.97%	35.64%	23.05%	27.48%
Net Profit	1.17	1.14	2.14	1.86	1.92	1.21	2.38	1.61
EPS in Rs	0.26	0.26	0.48	0.42	0.43	0.27	0.54	0.36
Raw PDF	—	—	—	—	—	—	—	—

INDBANK profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	11.47	14.91	20.62	18.24	24.76	26.57	24.95	25.40
Expenses	12.48	12.87	14.17	12.74	13.80	14.61	15.15	15.47
Operating Profit	-1.01	2.04	6.45	5.50	10.96	11.96	9.80	9.93
OPM %	-8.81%	13.68%	31.28%	30.15%	44.26%	45.01%	39.28%	39.09%
Other Income	5.77	4.56	3.83	1.62	2.11	0.24	0.42	0.17
Interest	1.52	1.53	1.53	0.89	0.08	0.26	0.22	0.07
Depreciation	0.30	0.19	0.20	0.37	0.38	0.44	0.24	0.27
Profit before tax	2.94	4.88	8.55	5.86	12.61	11.50	9.76	9.76
Tax %	28.91%	17.01%	18.60%	40.10%	28.63%	26.43%	27.05%	—
Net Profit	2.09	4.06	6.96	3.50	9.00	8.46	7.12	7.12
EPS in Rs	0.47	0.91	1.57	0.79	2.03	1.91	1.60	1.60
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

INDBANK balance sheet (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	44.38	44.38	44.38	44.38	44.38	44.38	44.38	44.38
Reserves	15.83	19.90	26.75	30.13	38.99	47.27	54.36	58.43
Borrowings	0.00	0.00	0.00	2.79	0.00	0.01	0.00	1.60
Other Liabilities	13.94	19.91	21.33	20.08	22.97	26.23	24.40	23.64
Total Liabilities	74.15	84.19	92.46	97.38	106.34	117.89	123.14	128.05
Fixed Assets	3.33	3.37	3.71	3.55	3.32	3.13	3.05	3.04
CWIP	0.00	0.00	0.13	0.00	0.00	0.00	0.00	0.00
Investments	0.19	0.80	1.30	1.37	2.44	1.83	3.02	3.21
Other Assets	70.63	80.02	87.32	92.46	100.58	112.93	117.07	121.80
Total Assets	74.15	84.19	92.46	97.38	106.34	117.89	123.14	128.05

INDBANK cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	4.95	14.92	8.14	0.55	-5.30	-1.16	-0.07	2.05
Cash from Investing Activity	-3.41	-10.32	-8.44	-0.98	-1.03	-0.17	0.56	-1.44
Cash from Financing Activity	0.00	0.00	-1.51	-1.51	-0.89	-0.07	-0.12	-0.19
Net Cash Flow	1.54	4.61	-1.80	-1.93	-7.22	-1.40	0.37	0.41
Free Cash Flow	4.87	14.88	7.94	-0.12	-5.39	-1.30	-0.32	1.88
CFO/OP	350%	-1,528%	405%	30%	-81%	11%	29%	42%

INDBANK shareholding pattern (%)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	64.84%	64.84%	64.84%	64.84%	64.84%	64.84%	64.84%	64.84%
FIIs	0.20%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%
DIIs	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%
Public	34.87%	35.07%	35.08%	35.04%	35.08%	35.07%	35.07%	35.07%
No. of Shareholders	49,132	51,232	50,969	51,236	51,231	50,537	50,062	49,528

INDBANK key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	184.43	29.28	78.58	59.65	82.45	67.52	81.87	93.33
Inventory Days	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—
Cash Conversion Cycle	184.43	29.28	78.58	59.65	82.45	67.52	81.87	93.33
Working Capital Days	-23.19	-308.36	-286.66	-71.87	1.40	71.94	-29.67	58.81
ROCE %	5.68%	7.51%	10.27%	14.89%	7.02%	13.41%	13.44%	10.26%

INDBANKUpdated 13 Oct 2026, 17:45

Indbank Merch Bank

INDBANKUpdated 13 Oct 2026, 17:45

Market Cap

₹116Cr.

Current Price

₹25.6

High / Low

₹43.4/24.2

Stock P/E

16.5

ROE7.34%

ROCE10.3%

Book Value₹23.2

Face Value₹10.0

Dividend Yield0.00%

About

Incorporated in 1989, Indbank Merchant Banking Services Ltd. is engaged in Merchant Banking, Stock Broking, Depository Participant and allied activities.

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Sep 2023	6.04	0.03	2.73	0.01	0.09	3.2	24.38	2.42	0.55
Dec 2023	6.6	0	3.24	0.01	0.1	3.27	21.71	2.56	0.58
Mar 2024	6.86	0.01	3.54	0.96	0.09	4.18	39.95	2.5	0.56
Jun 2024	7.7	0.02	3.86	0.01	0.12	3.71	23.18	2.85	0.64
Sep 2024	8.13	0.02	3.62	0	0.11	4.38	24.66	3.3	0.74
Dec 2024	5.63	0.05	3.6	0.02	0.11	1.89	38.1	1.17	0.26
Mar 2025	5.31	0.04	3.65	0	0.1	1.52	25	1.14	0.26
Jun 2025	6.69	0.07	3.78	0	0.06	2.78	23.02	2.14	0.48
Sep 2025	6.28	0.09	3.63	0.01	0.06	2.51	26.29	1.86	0.42
Dec 2025	6.25	0.02	3.59	0	0.06	2.58	25.97	1.92	0.43
Mar 2026	5.89	0.01	4.06	0.13	0.07	1.88	35.64	1.21	0.27
Jun 2026	6.9	0.01	3.74	0	0.07	3.08	23.05	2.38	0.54
Sep 2026	6.36	0.03	4.08	0.04	0.07	2.22	27.48	1.61	0.36

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	10.11	0.29	5.85	2.63	0.69	5.91	15.4	4.99	1.12
Mar 2016	9.03	0.11	5.77	0.59	0.6	3.14	12.1	2.76	0.62
Mar 2017	10.54	0.81	10.13	6.55	0.53	5.62	5.16	5.34	1.2
Mar 2018	13.82	1.58	8.65	0.81	0.43	3.97	44.08	2.22	0.5
Mar 2019	10.39	1.53	8.95	2.13	0.23	1.81	2.76	1.77	0.4
Mar 2020	11.47	1.52	12.48	5.77	0.3	2.94	28.91	2.09	0.47
Mar 2021	14.91	1.53	12.87	4.56	0.19	4.88	17.01	4.06	0.91
Mar 2022	20.62	1.53	14.17	3.83	0.2	8.55	18.6	6.96	1.57
Mar 2023	18.24	0.89	12.74	1.62	0.37	5.86	40.1	3.5	0.79
Mar 2024	24.76	0.08	13.8	2.11	0.38	12.61	28.63	9	2.03
Mar 2025	26.57	0.26	14.61	0.24	0.44	11.5	26.43	8.46	1.91
Mar 2026	24.95	0.22	15.15	0.42	0.24	9.76	27.05	7.12	1.6
TTM	25.4	0.07	15.47	0.17	0.27	9.76	—	7.12	1.6

Shareholding pattern

As of Jun 2026%

Holder	Share
Promoters	64.84%
DIIs	0.09%
Public	35.07%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Sep 2023	64.84%	0.01%	0.09%	35.07%
Dec 2023	64.84%	0.01%	0.09%	35.06%
Mar 2024	64.84%	0.05%	0.09%	35.02%
Jun 2024	64.84%	0.07%	0.09%	35.01%
Sep 2024	64.84%	0.2%	0.09%	34.87%
Dec 2024	64.84%	0%	0.09%	35.07%
Mar 2025	64.84%	0%	0.09%	35.08%
Jun 2025	64.84%	0.03%	0.09%	35.04%
Sep 2025	64.84%	0%	0.09%	35.08%
Dec 2025	64.84%	0%	0.09%	35.07%
Mar 2026	64.84%	0%	0.09%	35.07%
Jun 2026	64.84%	0%	0.09%	35.07%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	44.38	1.91	0	6.2	52.49	5.06	0	3.47	43.96	52.49
Mar 2016	44.38	4.67	0	8.66	57.71	4.53	0	3.04	50.14	57.71
Mar 2017	44.38	9.98	1.58	24.39	80.33	4.07	0	2.1	74.16	80.33
Mar 2018	44.38	12.13	0.03	24.47	81.01	3.73	0	1.24	76.04	81.01
Mar 2019	44.38	13.86	0	9.3	67.54	3.58	0	0.45	63.51	67.54
Mar 2020	44.38	15.83	0	13.94	74.15	3.33	0	0.19	70.63	74.15
Mar 2021	44.38	19.9	0	19.91	84.19	3.37	0	0.8	80.02	84.19
Mar 2022	44.38	26.75	0	21.33	92.46	3.71	0.13	1.3	87.32	92.46
Mar 2023	44.38	30.13	2.79	20.08	97.38	3.55	0	1.37	92.46	97.38
Mar 2024	44.38	38.99	0	22.97	106.34	3.32	0	2.44	100.58	106.34
Mar 2025	44.38	47.27	0.01	26.23	117.89	3.13	0	1.83	112.93	117.89
Mar 2026	44.38	54.36	0	24.4	123.14	3.05	0	3.02	117.07	123.14
Sep 2026	44.38	58.43	1.6	23.64	128.05	3.04	0	3.21	121.8	128.05

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	0.84	-4.31	0	-3.47
Mar 2016	4.34	-4.56	0	-0.22
Mar 2017	5.55	-6.47	0	-0.92
Mar 2018	4.65	-2.94	-0.8	0.9
Mar 2019	4.95	-3.41	0	1.54
Mar 2020	14.92	-10.32	0	4.61
Mar 2021	8.14	-8.44	-1.51	-1.8
Mar 2022	0.55	-0.98	-1.51	-1.93
Mar 2023	-5.3	-1.03	-0.89	-7.22
Mar 2024	-1.16	-0.17	-0.07	-1.4
Mar 2025	-0.07	0.56	-0.12	0.37
Mar 2026	2.05	-1.44	-0.19	0.41

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	235.03	300.33	318.60	210.50	184.43	29.28	78.58	59.65	82.45	67.52	81.87	93.33
Inventory Days	—	—	—	—	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—	—	—	—	—
Cash Conversion Cycle	235.03	300.33	318.60	210.50	184.43	29.28	78.58	59.65	82.45	67.52	81.87	93.33
Working Capital Days	600.39	625.31	587.67	452.42	-23.19	-308.36	-286.66	-71.87	1.40	71.94	-29.67	58.81
ROCE %	14.00%	6.80%	12.36%	9.87%	5.68%	7.51%	10.27%	14.89%	7.02%	13.41%	13.44%	10.26%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of INDBANK MERCH BANK (INDBANK)?

The reported market capitalisation for INDBANK MERCH BANK (INDBANK) is ₹116Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of INDBANK?

The current price shown for INDBANK MERCH BANK (INDBANK) on Fincrux is ₹25.6 with a 52-week high/low of ₹43.4/24.2.

What is the P/E ratio of INDBANK MERCH BANK (INDBANK)?

The stock P/E for INDBANK MERCH BANK (INDBANK) is 16.5 on Fincrux, with ROE at 7.34% and ROCE at 10.3%.

What were INDBANK latest quarterly results?

For Sep 2026, INDBANK MERCH BANK (INDBANK) reported sales ₹6.36 Cr and net profit ₹1.61 Cr (figures in ₹ crore unless noted).

What are INDBANK annual sales and net profit?

For TTM, INDBANK MERCH BANK (INDBANK) shows sales of ₹25.40 Cr and net profit of ₹7.12 Cr on the Fincrux profit & loss statement.

Who owns INDBANK MERCH BANK (INDBANK)?

Latest shareholding for INDBANK MERCH BANK (INDBANK) on Fincrux: Promoters 64.84% (Jun 2026), FIIs 0.00% (Jun 2026), DIIs 0.09% (Jun 2026), Public 35.07% (Jun 2026), No. of Shareholders 49,528% (Jun 2026).

Where can I find INDBANK MERCH BANK (INDBANK) financials?

INDBANK MERCH BANK (INDBANK) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show INDBANK balance sheet and cash flow?

Yes. The INDBANK MERCH BANK (INDBANK) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 13 October 2026 at 17:45