INDUSIND BANK = UPDATE DT 27.09.2010 = EXCELLENT TIE-UPS = GOOD & IMPROVING RESULTS = PROMISING OUTLOOK

INDUSIND BANK

UPDATE DATED 27.09.2010

RECENT NEWS

·        It is understood from  news reports that - IndusInd Bank has raised $250 million in a share sale to institutional investors.

·         IndusInd Bank has tied up with Tata Motors for Passenger Car   Financing - August 27, 2010

·        IndusInd Bank has tied up with Ashok Leyland for Channel Financing - August 18, 2010

·        IndusInd Bank has tied up with Toyota Kirloskar Motors

·        IndusInd Bank has bagged the mandate for Haj Travel related Forex Business 2nd year in succession

·         IndusInd Bank has tied up with Tata Motors for dealer financing

INTIMATIONS TO

NSE BY INDUSIND BANK

27-09-2010    Indusind Bank Limited has informed the Exchange regarding a Press Release dated September 27, 2010, titled "IndusInd Bank raises USD 253 million through QIP".

27-09-2010    Indusind Bank Limited has informed the Exchange that in respect of the issue of Equity Shares of face value of Rs. 10 each of the Company ("Equity Shares") to Qualified Institutional Buyers ("QIBs") under a Qualified Institutions Placement in terms of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, the Finance Committee of the Board of Directors has approved the allotment of 50,000,000 Equity Shares at a price of Rs.234.55 per Equity Share (including a premium of Rs. 224.55 per Equity Share) on September 24, 2010. aggregating to Rs.11,727.50 million to QIBs.

30-08-2010    Indusind Bank Limited has informed the Exchange regarding a Press Release dated August 27, 2010 titled "IndusInd Bank ties-up with Tata Motors for Passenger Car financing".

18-08-2010    Indusind Bank Limited has informed the Exchange regarding a Press Release dated August 18, 2010 titled "IndusInd Bank ties-up with Ashok Leyland for Channel Financing".

12-08-2010    Indusind Bank Limited has informed the Exchange regarding a Press Release dated August 11, 2010 titled "IndusInd Bank ties-up with Toyota Kirloskar Motor".

09-07-2010    IndusInd Bank Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Interest earned of Rs. 77154 lacs for the quarter ending on 30-JUN-2010 against Rs. 62883 lacs for the quarter ending on 30-JUN-2009. Interest expended of Rs. 47586 lacs for the quarter ending on 30-JUN-2010 against Rs. 46146 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 11855 lacs for the quarter ending on 30-JUN-2010 against Rs. 8650 lacs for the quarter ending on 30-JUN-2009.       -

30-06-2010    Indusind Bank Limited has informed the Exchange regarding a Press Release dated June 30, 2010 titled "IndusInd Bank ties-up with Tata Motors for dealer financing".

RESULTS FOR

Q/E 30.06.2010

The results for q/e 30^th June,2010 are compared below with the previous Q/ E March,2010 and Corresponding Qtr ending 30^th,June2010 and the percentage differences are indicted in columns 4 and 6.

As can be seen, total Income at  Rs.933 Cr is higher by 9.38% from previous Qtr (Rs.853 Cr) and by 16.33% from corresponding Qtr (Rs.802 Cr).

Operating Profit  at Rs.231 Cr is higher by 15.03% from previous qtr (Rs.200 Cr) and by 32.3% from corresponding Qtr (Rs.174 Cr).

Net Profit at Rs.119 cr is higher by 21.02% from previous Qtr (Rs.98 Cr) and by 37.05% from Corresponding qtr (Rs.86.50Cr).

Basic EPS at Rs.2.89 is higher by 20.92% from previous qtr (Rs.2.39) and by 18.44% from corresponding qtr (Rs.2.44).

% of Gross/Net NPA at 0.38 is very healthy and down by 24% from previous qtr (0.5) and by a huge 62.38% from corresponding qtr (Rs.1.01).

Capital Adequacy Ratio at 13.71 is quite healthy though slightly down from 15.33 in previous qtr but is up from 12.14 in corresponding qtr. The bank has recently raised further finances through share sale which may improve its CAR and also add good amount to its loanable funds.

Its return on assets at 1.33 is quite healthy.

Considering the MOUs it has already entered into with all the Big Auto manufacturers, its loan book can be very healthy and also free of NPAs.

Its current year EPS can be easily above Rs.12 (Rs.3 x 4 Qtrs) on a face value of Rs.10. At its current price of around 270, its P/E ratio is around 22. The Bank is targeting to open 100 Branches in current year. Hence, Going forward, it may improve the EPS further from the last Qtr level of Rs.2.89.

Considering its dynamic Management, this bank may scale new heights in the near future.

RESULTS IN FIGURES

Q / E	30-Jun-10	31-Mar-10	Dif%1	30-Jun-09	Dif%2
Interest on Advances	60477	55777	8.43	49167	23
Income on Investments	16445	15715	4.65	13154	25.02
Income on Balances With RBI	105	161	-34.78	321	-67.29
Others	127	368	-65.49	241	-47.3
Interest Earned	77154	72021	7.13	62883	22.69
Other Income	16096	13236	21.61	17275	-6.82
Total Income	93250	85257	9.38	80158	16.33
Interest Expended	47586	44742	6.36	46146	3.12
Employees Cost	8904	7793	14.26	6079	46.47
Other Operating Expenses	13699	12674	8.09	10502	30.44
Operating Expenses	22603	20467	10.44	16581	36.32
Operating Profit	23061	20048	15.03	17431	32.3
Provisions	4874	5314	-8.28	3433	41.97
Profit  before tax	18187	14734	23.44	13998	29.93
Tax Expense	6332	4938	28.23	5348	18.4
Net Profit After Tax	11855	9796	21.02	8650	37.05
Net Profit	11855	9796	21.02	8650	37.05
Face Value in Rs	10	10	0	10	0
Paid-up Equity	41106	41065	0.1	35519	15.73
Reserves	-	175495		-
Dividend (%)	-	18		-
Capital Adequacy Ratio	13.71	15.33	-10.57	12.14	12.93
Basic EPS B EI	2.89	2.39	20.92	2.44	18.44
Diluted EPS B EI	2.81	2.34	20.09	2.44	15.16
Basic EPS A EI	2.89	2.39	20.92	2.44	18.44
Diluted EPS A EI	2.81	2.34	20.09	2.44	15.16
Gross/Net NPA	8249	10183	-18.99	16655	-50.47
% of Gross/Net NPA	0.38	0.5	-24	1.01	-62.38
Return on Assets	1.33	1.16	14.66	1.27	4.72
Public holding (%)	77.85	77.83	0.03	74.37	4.68

 *  *  *    E N D    *  *  *