IndusInd Bank Limited (INDUSINDBK)

Large Cap

Financial Services stocks · Large cap · NSE

IndusInd Bank is India's 5th largest private bank, offering universal banking services. It serves 42M customers via 9,413 touch points, with a 3.26T loan book and 4.14T deposits. The bank maintains strong asset quality (GNPA 3.25%, NNPA 0.95%) and capital adequacy (CRAR 17.15%).

₹851

-12.20 · -1.41%

Market cap ₹67,656 Cr

IndicesNifty 50 Nifty 500

ThemesBanking

Data qualityFresh enough for analysisQuote updated 21 Oct, 10:46 am IST

Details

Quote21 Oct, 10:46 am IST

Base fundamentals14 Oct 2026 · screener

Latest result22 Jul, 09:44 pm IST

Score21 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags03 May 2026

Coverage13/14 · 93%

Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)

Technical timing lens

Trend score and candlestick chart

40Neutral

SMA20 -9.8% / mo · MACD +

Stock trend: 35

Sector RS: 47

Sector 3M: -4.9% vs Nifty 500 -5.1%

Financial Services FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

INDUSINDBKD candles · FIT view-3.9%TODAY · PROVISIONAL

Latest price ₹851.00 on 2026-10-21

Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.

Bar

-1.6%

RSI

MACD hist

0.96

52W pos

31%

2026-10-21O ₹865.20H ₹868.45L ₹848.35C ₹851.00Vol 2.7L shIntraday candle

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

INDUSINDBKNifty Financial ServicesNifty 500

INDUSINDBK: -16.4%
Nifty 500: -5.6%
Nifty Financial Services: -6.0%
Vs Nifty 500: -10.9 pp

Chart stats

19 Oct 2026

From 52W high: -19.9%
52W range position: 39%
ATR (14): 2.6%
Volume vs 20D: 0.47x
Avg traded value: ₹221 Cr
20D price channel: ₹845.7 - ₹970.8

Quarter ended 30 Jun 2026

Bad · 25

Rev -8% YoY · PAT +72% YoY · operating leverage

Revenue: ₹11,310 Cr; YoY -7.8%
PAT: ₹1,037 Cr; YoY +71.7%
Operating margin: NDF; QoQ NDF
PAT margin: 9.2%; QoQ +377 bps

Filed 22 Jul 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 1 Base / Transition

Current trend context ranked against the Nifty 500. It describes the chart; it is not a buy or sell signal.

RS percentile: 68; -9 ranks over 20D
Stage 2 entry: Not in Stage 2; Current classification: Stage 1 Base / Transition
Sector rotation: #9; neutral · 99 stocks
Industry rotation: #9; neutral · 26 stocks

Trend structure

Below 20-DMABelow 50-DMABelow 200-DMA

RSI (14)

Weak momentum

MACD

Above signal

Histogram +0.96

Volume participation

0.1x average

So far vs 20-session average

20-session position

4% of range

₹845.7 low · ₹970.8 high

Relative performance

vs Nifty 500

1M: -7.2 pp; stock -10.7%
3M: -10.9 pp; stock -16.4%
6M: +4.9 pp; stock +1.3%
1Y: +20.7 pp; stock +13.6%

From 52W high

-19.9%

High ₹1,077.85

52W range position

34%

₹750.5 - ₹1,077.85

ATR (14)

2.6%

₹22.42

Avg traded value

₹221 Cr

20-session average

Current setup

No confirmed setup attached

Review the chart and detailed technical evidence before drawing a conclusion.

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.

Suggested next step

Verify management risk first

Do not let cheap valuation override weak Trust or governance evidence.

U-Score

Legacy · OVERVALUED

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Jun 2026

Bad · 25/100

Rev -8% YoY · PAT +72% YoY · operating leverage

Filed 22 Jul 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹11,310 Cr	-7.8%	+2.8%
EBITDA	NDF	NDF	NDF
Operating margin	NDF	NDF	NDF
PAT	₹1,037 Cr	+71.7%	+74.6%
PAT margin	9.2%	+425 bps	+377 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: 51.20
P/B: 1.03
EV/EBITDA: —
Market Cap: 67656.00Cr

Profitability

ROE: 1.36%
ROCE: 5.68%
ROA: 0.24%
Dividend Y: 0.17%

Growth (CAGR)

Revenue 5Y: 10.00%
EPS 5Y: -21.00%
Revenue 3Y: 8.00%
EPS 3Y: -51.00%

Balance Sheet

Debt/Equity: 0.11
Interest Coverage: —
Altman Z: 1.58
Book Value: 844.00

Cash Flow

FCF Yield: 0.69%
FCF Positive Y: 5/5
OCF: 993.00 Cr
EPS TTM: 16.97

Shareholding

Promoter Hold: 15.82%
Promoter Pledge: 42.80%
Momentum 52W: 40%

Financial History

Updated 18/10/2026

Revenue

₹ Cr

Latest: 11.3k+2.8% vs prev

Net Profit

₹ Cr

Latest: 1,037+74.6% vs prev

ROE is shown only in the Annual view — quarterly equity data isn't published.

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Bearish setup

Trend is weak — long-term trend down. RSI 35.

Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
SMA20 falling (~11.3% over last month) — short-term momentum negative.
RSI(14) at 35 — falling, no extreme reading.
MACD above signal, histogram expanding — bullish momentum building.
21% off 52W high · 13% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 1 Base / Transition

1M return

-10.7%

3M return

-16.4%

6M return

-0.8%

1Y return

+7.9%

RS 1D

-2

RS 20D

-9

Sector rank

Industry rank

Stage evidence

Price is within 7.1% of the 30-week proxy.
The 30-week proxy changed -0.0% over 20 sessions.
The moving-average structure does not confirm Stage 2 or Stage 4.

50-DMA

price below

200-DMA

price below

Sector

neutral

Industry

neutral

Relative-strength line vs Nifty 500 (base 100)

261 observations

19 Oct 2026Value 123.1-0.56%

RS vs Nifty 500123

Valuation & peers

U-Score 10 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

Distress Watch

Fundamental score breakdown

U band · OVERVALUED

Valuation2/30

Growth3/25

Quality0/20

Balance Sheet0/15

Cash Flow4/10

Piotroski

4/9 (+1)

Penalties

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

10/100 · legacy band OVERVALUED

Positive drivers

Cash flow contributes 4/10 to the score.
Growth contributes 3/25 to the score.
Valuation contributes 2/30 to the score.

Main drags

Altman Z is 1.6, in distress territory.
Promoter pledge is 42.8%.
Fair-value margin of safety is negative at -2090.0%.

Sector valuation model

Bank valuation: P/B adjusted for ROE and asset quality

Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.

Bank P/B

Primary lens

Price/book and ROE/ROA, not trailing PE alone.

Secondary checks

Capital adequacy, credit cost, NPA trend, deposit franchise.

Main risk check

Low P/B can be a trap if asset quality or credit cost is worsening.

51.2

1.0

EV/EBITDA

—

ROE

1.4%

ROCE

5.7%

FCF Yield

0.7%

Debt/Equity

0.1

MoS

-2090.0%

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 10

Legacy U-Score band

OVERVALUED

Previous: OVERVALUED

Margin of safety

-2090.0%

Previous: -2121.4%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026

v4.3-runtime-valuation

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number

₹567.68

-49.9% MoS

Growth-justified P/E

2.3

Growth-justified Value

₹38.86

-2090.0% MoS

PEG

—

Comparable companies

Peers

Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

IDFCFIRSTB

Mid

IDFC First Bank Limited

The Federal Bank Limited

The Jammu & Kashmir Bank Limited

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-07-23T07:12:05.112Z

Management commentary snapshot

IndusInd Bank reported Q1FY27 net profit of 1,037crs, up 72% YoY and 75% QoQ, driven by 21% QoQ operating profit growth. Asset quality improved with GNPA at 3.25% and NNPA at 0.95%. NIM (ex-one-offs) was 3.35%, down YoY and QoQ. Loan book grew 3% QoQ, led by wholesale.

Strong net profit growth and improving asset quality are positive. However, the decline in retail & SME loans QoQ and the YoY decline in overall loans warrant close monitoring. NIM compression is also a concern. The stated pivot to growth needs to show broad-based loan expansion.

Current business mix

Loan Book Composition by Segment (End of Period)

Latest issuer-disclosed distribution across 3 reported categories.

Retail50.0%

SME13.0%

Wholesale37.0%

Growth engines

Retailisation of Deposits

Average Retail Deposits increased 4% QoQ, with Retail Deposit share reaching 49.5% vs 47.9% QoQ, driven by 'One Bank' approach, digital enablers, and rural/semi-urban distribution.

Wholesale Banking Growth

Average Wholesale Loans increased 7% QoQ, supported by focus on risk-adjusted returns, primary banker relationships with corporates, and deep domain presence.

Digital Banking Adoption

Monthly Active Users on INDIE app exceeded 2.6Mn+, with 1.5Mn+ UPI transactions. INDIE for Business app has 390K+ MAU, facilitating significant digital acquisitions.

AI Integration

12,000+ employees trained in AI; AI platforms support 15,000+ monthly users. 50+ ML models evaluate ~0.5mn loans monthly and monitor ~42mn customers.

Tailwinds

Moderation in Stress Pools

The bank observed continued moderation in stress pools with lower slippages in Q1FY27.

Improving Cost of Funds

Cost of Deposits decreased by 12bps QoQ and 49bps YoY to 5.95%. Cost of Funds decreased by 9bps QoQ and 64bps YoY to 5.05%.

Digital Adoption & Efficiency

Strong digital adoption with 2.6Mn+ MAU on INDIE app and 390K+ on INDIE for Business, enhancing customer engagement and operational efficiency.

Headwinds

Decline in Retail & SME Loans

Average Retail & SME Loans decreased 1% QoQ, indicating a slowdown in these key growth segments.

Overall Loan Book Contraction YoY

The overall loan book decreased by 2% YoY, despite a 3% QoQ growth, suggesting a longer-term challenge in loan expansion.

NIM Compression

Net Interest Margins (excluding one-offs) declined to 3.35% from 3.39% QoQ and 3.46% YoY.

Decline in Other Income

Total Other Income decreased by 17% YoY to 1,787crs, impacting overall revenue growth.

Risk radar

Asset Quality in Micro Loans

Micro Loan book saw (43)% YoY and (13)% QoQ decline in disbursements, with significant write-offs and gross slippages in Q1FY27.

Wholesale Loan Concentration

Wholesale banking constitutes 37% of the loan book, with NBFCs, Real Estate, and Power sectors being notable exposures, requiring careful monitoring.

SME Loan Book Decline

SME loan book decreased (5)% YoY and (2)% QoQ, indicating potential stress or reduced demand in this segment.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare BOTH

Financial services performance is influenced by both seasonal factors (e.g., loan demand, festival season impact) and sequential momentum (e.g., asset quality trends, interest rate changes, disbursement pace). Therefore, both YoY and QoQ comparisons are crucial for a comprehensive understanding.

Sector KPIs management disclosed

AUM Growth (Loans)

Loans at 3,26,274crs, (2)% YoY and 3% QoQ. Average total loans increased 3% QoQ, while average Retail & SME loans decreased 1% QoQ.

Disbursements

Vehicle Finance disbursements were 10,832crs, down (14)% YoY and (4)% QoQ. Micro Loan disbursements were 5,226crs, down (43)% YoY and (13)% QoQ.

Net Interest Margin (NIM)

Net Interest Margins (excluding one-offs) stood at 3.35% in Q1FY27, compared to 3.46% YoY and 3.39% QoQ.

Borrowing Cost

Cost of Deposits was 5.95% in Q1FY27, down 12bps QoQ and 49bps YoY. Cost of Funds was 5.05%, down 9bps QoQ and 64bps YoY.

Management forward view

Growth Pivot

Management states a 'pivot towards growth from consolidation' as a key highlight for Q1FY27.

AI-Powered Banking

Focus on building an AI-powered bank, with 12,000+ employees trained and AI platforms supporting loan evaluation and customer monitoring.

Retail Deposit Focus

Continued emphasis on building a granular and cost-efficient liabilities franchise through process enhancement, differentiated products, and digital enablers.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
Overall Loan Growth	(2)% YoY, 3% QoQ	Sustained broad-based loan growth, particularly in Retail and SME segments.
Net Interest Margin (NIM)	3.35% (ex-one-offs)	Stabilization and improvement in NIM, indicating better asset yield or lower funding costs.
Asset Quality Trends	GNPA 3.25%, NNPA 0.95%	Continued moderation in stress pools and slippages across all segments, especially Micro Loans.
Retail & SME Loan Growth	Avg Retail & SME Loans 1% QoQ	Reversal of the QoQ decline and positive growth in these strategically important segments.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

45Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 2nd percentile of the scored universe and 3rd percentile within Financial Services. Main check: results consistency is weak at 15/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 21 Oct 2026

management-trust-v1

163 docs text-extracted · 29 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

2nd percentile

overall median 67 · Financial Services: 3rd pctile, median 62 · Large: 1st pctile, median 73

Evidence depth

Financial-only

163 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Needs extra due diligence; demand valuation comfort and recent improvement.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

weak · holding, pledge, alignment

Cash flow

strong · profit to cash conversion

Balance sheet

watch · leverage and solvency

Discipline

weak · capital discipline

Results

weak · quarterly consistency

Trust positives

▸FCF yield is positive at 0.7%.
▸5 years of positive FCF.

Trust risks

▸Promoters have pledged 42.8% of holding.
▸Altman Z is 1.58.
▸3 latest quarters had PAT decline worse than 25% YoY.
▸Promoter holding is only 15.8%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Financial Services stocks Browse Indian stocks starting with I Explore fundamental stock screeners Browse Indian investment themes

Related companies

IDFC First Bank Limited (IDFCFIRSTB)RBL Bank Limited (RBLBANK)The Federal Bank Limited (FEDERALBNK)Yes Bank Limited (YESBANK)The Jammu & Kashmir Bank Limited (J&KBANK)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Bse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

IndusInd Bank Limited (INDUSINDBK)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 30 Jun 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Bank valuation: P/B adjusted for ROE and asset quality

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

Loan Book Composition by Segment (End of Period)

Retailisation of Deposits

Wholesale Banking Growth

Digital Banking Adoption

AI Integration

Moderation in Stress Pools

Improving Cost of Funds

Digital Adoption & Efficiency

Decline in Retail & SME Loans

Overall Loan Book Contraction YoY

NIM Compression

Decline in Other Income

Asset Quality in Micro Loans

Wholesale Loan Concentration

SME Loan Book Decline

What management said, and what results must prove

AUM Growth (Loans)

Disbursements

Net Interest Margin (NIM)

Borrowing Cost

Growth Pivot

AI-Powered Banking

Retail Deposit Focus

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching IndusInd Bank Limited

Important announcements & filings

Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Oct - Please find attached herewith the copy of newspaper publication for Special Window for re-lodgement of transfer requests of physical shares.

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Oct - Please find attached the schedule of the Earnings call for the quarter and half-year ended September 30, 2026

Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 28 Sep - IndusInd Bank launches dedicated GCC banking vertical on September 28, 2026.

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 23 Sep - IndusInd Bank held investor meetings in Boston on September 23, 2026, organized by Jefferies.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 25 Sep - IndusInd Bank held investor meetings in New York on September 24-25, 2026 with Jefferies and six investors.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 22 Sep - IndusInd Bank held analyst and investor meetings in London on September 21-22, 2026.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - Please find attached herewith the captioned intimation

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - Please find attached herewith the captioned intimation

Announcement under Regulation 30 (LODR)-Press Release / Media Release 11 Sep - IndusInd Bank launches OD/CC-linked corporate credit card for businesses nationwide.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 10 Sep - Would like to inform Bank has allotted 4160 shares to those grantees who had exercised their options under Bank ESOS.

Announcement under Regulation 30 (LODR)-Credit Rating 19 Aug - CRISIL reaffirmed IndusInd Bank ratings at AA+/A1+, revising outlook to Stable from Negative.