Sunday, December 18, 2011
THE SOUTH INDIAN BANK = RESULTS =2ND QTR ENDING SEPT 2011 = Q2 FY 2012 = NPT UP BY 23.31% = VERY GOOD PERFORMANCE
THE SOUTH INDIAN
RESULTS FOR Q2 FY 2012
THE SOUTH INDIAN BANK LTD has achieved very good results for the second qtr ending sept,2011.
Interest/Discount on Advances/Bills has increased to Rs.701.88 cr – up by 15.07% from Q1 FY 12; up by 26.09% from Q4 FY 11; up by 41.33% from Q3 FY 11; and up by 54.06% from Q2 FY 11.
Income on Investments has increased to Rs.151.53% - up by 5.2% from Q1 FY12; up by 14.48% from Q4 FY 11; up by 23.04% from Q3 FY 11; and up by 30.16% from Q2 FY 11.
Interest Earned is Rs.877.25 cr – up by 14.12% from Q1 FY 12’ up by 24.66% from Q4 FY 11; up by 40.89% from Q3 FY 11; and up by 51.37% from Q2 FY 11.
Total Income has increased to Rs.930.33 cr – up by 13.41% from Q1 FY 12; up by 21.74% from Q4 FY 11; up by 38.37% from Q3 FY 11; and up by 49% from Q2 FY 11.
NII (Earned-Expended)has increased to Rs.258.77% - up by 26.25% from Q1 FY 12; up by 16.76% from Q4 FY 11; up by 26.36% from Q3 FY 11; and up by 31.14% from Q2 FY 11.
Net Interest Margin stands at 3%
Total Expenditure has increased to Rs.763.99 cr – up by 12.81% from Q1 FY 12; up by 25.04% from Q4 FY 11; up by 44.29% from Q3 FY 11; and up by 52.93% from Q2 FY 11.
Operating Profit has increased to Rs.166.34 cr – up by 16.21% from Q1 FY 12; up by 8.58% from Q4 FY 11; up by 16.44% from Q3 FY 11; and up by 33.29% from Q2 FY 11.
Provisions also has increased to Rs.23.83Cr in Q2 FY 12 –against Rs.20.84 cr in Q1 FY 12; Rs.26.41 cr in Q4 FY 11; Rs.29.83 cr in Q3 FY 11 and Rs.6.81 cr in Q2 FY 11.
Profit before tax has gone up to Rs.142.51 cr – up by 16.52% from Q1 FY 12; up by 12.41% from Q4 FY 11; up by 26.08% from Q3 FY 11; and up by 20.78% from Q2 FY 11.
Net Profit stands at Rs. 94.95 cr – up by 15.1% from Q1 FY 12; up by 16.12% from Q4 Fy 11; up by 26% from Q3 FY 11; and up by 23.31% from Q2 FY 11.
Capital Adequacy Ratio stands at 11.8 – against 12.36 in Q1 FY 12 and 14.38 in Q2 FY 11. CAR on BASEL II –SEP 2-11 is 13.48% against 9% stipulated by RBI.
Basic EPS on a FV of Rs.1 stands at Rs.0.84, - up from Rs.0.73 in Q1 FY 12; Rs.0.68 in Q2 FY 11.
% of Gross/Net NPA stands at 0.25 which is comfortable.
Return on Assets is reasonably good at 1.09.
SIB has 644 branches – which is projected to grow to 701 in FY 12 and to 750 in FY 13.
Business as at sep,2011 is Rs.56,386 cr
Business Growth YOY is 31%.
Last 5 years CAGR is 25% - which makes it one of the Fastest Growing Banks. Deposits have increased at 32% Growth Rate. Low cost deposits form 26% of total deposits. Advances have increased by 30% YOY.
Net Profit grew over 5.5 times in 6 years at CAGR of 29%.NIM is around 3%.
Annualised EPS for FY 12 is likely to be Rs.3.13 against FV of Rs.1.
Provision coverage ratio in FY 12 is around 74.7%. Asset quality is maintained at High levels.
PE RATIO : Current MP is Rs.20.60. 52 week high price was Rs.26.10 and 52 week low price was Rs.17.50. Hence, current PE Ratio is 6.48, which indicates good prospects of appreciation in a normal market.
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