INDIAN BANK - Q3 FY 21 - RESULTS ANALYSIS

 

INDIAN BANK

Q3 FY 21 RESULTS ANALYSIS

 

Amalgamation of Allahabad Bank into Indian Bank came in to effect on April1, 2020. Accordingly, the combined financials as on 31st December 2019 and 31st March 2020 have been arrived at by aggregation of audited numbers of two banks.

Performance Highlights - Q3 FY 21 (YoY)

Business`9.1 lakh Cr 8% UP

Deposits`5.2 lakh Cr8%UP

CASA at 41% 86 bps UP

Savings Bank 9% UP

Term Deposits7% UP

Advances`3.9 lakh Cr7% UP

RAM  Rs.2 LAKH CR 12% UP

GROSS NPA 9.04%  365 BPS DOWN

NET NPA 2.35%  187 BPS DOWN

PCR  86.51%  808 BPS UP

OPERATING PROFIT Rs.3099 Cr 10% UP

Net Profit      `514 Cr UP

ROA %          0.35 UP

ROE %          7.13 UP

Domestic NIM      3.13       42 bps UP

Expense Ratio      45.73% DOWN

CRAR (Basel III)  14.06% UP

 

Financials

Indian Bank (in Rs. Cr.)	Dec '20	Sep '20	Jun '20	Mar '20	Dec '19	YOY	QOQ
Interest Earned
(a) Int. /Disc. on Adv/Bills	7,133	7,148	7,149	4,037	4,050	76	-0.21
(b) Income on Investment	2,809	2,795	2,775	1,399	1,366	106	0.5
(c) Int. on balances With RBI	68.8	99.52	180.3	49.95	46.49	48	-31
(d) Others	16.57	17.11	18.6	3.45	3.74	343.05	-3.16
Other Income	1,544.35	1,737.09	1,433.30	851.31	1,037.44	48.86	-11.1
TOTAL INTT INCOME	10,025.00	10,057.00			9,693	3.43	-0.32
NON INTT INCOME	1,397.00	1,612.00			5,769	-75.78	-13.34
TOTAL INCOME	11421	11669			44099	-74.1	-2.13
EXPENDITURE
Interest Expended	5,711.44	5,912.34	6,245.54	3,489.73	3,511.74	62.64	-3.4
Employees Cost	1,579.66	1,757.97	1,660.76	625.9	594.21	166	-10
Other Expenses	1,166.03	1,111.62	876.78	521.38	482.63	141.6	4.89
TOTAL EXPENSES	8,322.00	8,674.00			8550	-2.67	-4.06
Operating Profit	3,114	3,015	2,773	1,703	1,916	63	3.3
Provisions	2,314.36	2,284.25	2,139.05	1,888.48	1,525.53	51.71	1.32
P B T	799.85	730.4	633.96	-185.15	390.36	104.9	9.51
Tax	274	306	249	30	142	92	-11
Net Profit	526	424	385	-215	248	112	24
FINAL N P T	535	458	431	-267	291	84	17
Equity	1,129.37	1,129.37	1,129.37	608.8	608.8	85.51	0
Reserves	19,170.93	19,170.93	19,170.93	19,170.93	16,140.13	18.78	0
ANALYTICAL RATIOS
a) % of Share by Govt.	88.06	88.06	88.06	83.46	83.46	5.51	0
Basic EPS	4.74	4.05	3.82	-4.39	5.62	-15.66	17.04

 

MP         149.9

PE          7.91

VOLUMES      18215508

52 Week Range  41.55       157

Face Value    10

Book Value Per Share  206.39

INTERESTR EXPENDED /TOTAL INCOME% : 50.01

EMPL COST                        13.83

OTHER EXPENSES              10.21

TOTAL EXPENSES               72.87

OPERATING PROFIT           27.27

PROVISIONS                     20.26

P B T                                  7

TAX                                    2.39

NET PROFIT                       4.61

 

COMPONENTS	YE MAR'20	Q3FY20	Q2FY21	Q3FY21	QOQ	YOY
INTEREST INCOME	38330	9693	10057	10025	0	3
INTT EXPENSES	25273	6400	5913	5711	-3	-11
NII	13057	3293	4144	4313	4	31
NON INTT INCOME	5769	1673	1612	1397	-13	-17
OPTG INCOME	18825	4966	5756	5710	-1	15
OPTG EXP	9293	2150	2760	2611	-5	21
OPTG PROFIT	9587	2816	2995	3099	3	10
PROVISIONS	14230	4555	2583	2585	0	-43
NET PROFIT	-4643	-1739	412	514	25	NA
TOTAL INCOME	44099	11366	11669	11421	-2	NA

 

R O  A	-0.86	-1.28	0.28	0.35
NIM DOMESTIC	2.73	2.71	3.06	3.13
ROI(DOMES)	7.61	7.5	7.83	7.25
EPS	0	0	14.61	18.21
BUSINESS PER EMPLOYEE(CR)	20.93	20.43	21.49	21.55
NET PROFIT PER EMLOYEE(LAKHS)	0	0	4.1	4.89
CASA%	40	41	41	41

 

SEGMENT	TARGET	ACHIEVEMENT
PRIORITY SECTOR	40%	42.35
AGRI	18	19.75
SF/MF	8	9.16
WEAKER SECTION	10	12.23
MICRO(MSME)	7.5	9.01
NON CORPORATE FARMERS	12.14	16.33

 

NPAs
INDUSTRY	% TO RESPECTIVE PORTFOLIO
	31.12.2019	31.12.2020
METALS	38.98	35.44
PETROLEUMETC	22.71	1.25
ENGG	46.76	23.26
TEXTILES	23.61	13.86
INFRA	13.39	10.03
POWER	18.1	11.28
REALEST	12.03	7.68
NBFC	4.33	3.14
OTHERS	11.08	8.38

 

 

MIGRATION TO DIGITAL CHANNELS
		Q2FY21	Q3FY21
BRANCH TRANSACTION		47%	36%
ATM&BNA		19%	24%
DIGITAL TRANSACTION		34%	40%

 

 

BUSINESS NETWORK
DOMESTIC BRANCHES		6003
ATMS&BNAS		5428
CORRESPONDENTS		9095
OVERSEAS BRANCHES		3
REGIONAL RURAL BANKS
BRANCHES		899