Announcement
Announcement under Regulation 30 (LODR)-Interest Rates Updates 12 Oct - IOB revised MCLR by 5 bps for most tenors, effective 15.10.2026.
Source: Bse
Indian Overseas Bank (IOB)
Large CapFinancial Services stocks · Large cap · NSE
Indian Overseas Bank is a public sector bank offering a comprehensive suite of financial products and services. The bank reported strong growth in advances, deposits, and profitability for Q1FY27, alongside significant improvements in asset quality and capital adequacy, supported by a high government ownership.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result20 Jul, 07:06 pm IST
Score20 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
33Bearishfull bear SMA stack · SMA20 -5.0% / mo · MACD + · near 52W low
Stock trend: 26
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
IOBD candles · FIT view-12.3%Latest close ₹30.71 on 2026-10-19
Bar
-0.9%
RSI
42
MACD hist
0.05
52W pos
6%
2026-10-19O ₹31.00H ₹31.50L ₹30.61C ₹30.71Vol 24.8L sh
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
IOBNifty Financial ServicesNifty 500
- IOB
- -12.3%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -6.7 pp
Chart stats
19 Oct 2026- From 52W high
- -26.5%
- 52W range position
- 6%
- ATR (14)
- 2.5%
- Volume vs 20D
- 0.80x
- Avg traded value
- ₹9.7 Cr
- 20D price channel
- ₹30.1 - ₹32.4
₹41.8
₹30.1 - ₹41.8
₹0.8
Latest completed session
20-session average
22.4% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED64
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent75
Revenue +18.8% · PAT +45.7% YoY
Technical
Bearish33
Price trend and sector-relative-strength timing.
Valuation
Legacy model+61.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence77
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +19% YoY · PAT +46% YoY · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹8,778 Cr | +18.8% | +3.4% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹1,716 Cr | +45.7% | +10.3% |
| PAT margin | 19.6% | +360 bps | +122 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 10.10
- P/B
- 1.55
- EV/EBITDA
- —
- Market Cap
- 60254.00Cr
Profitability
- ROE
- 15.60%
- ROCE
- 6.12%
- ROA
- 1.26%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 48.00%
- Revenue 3Y
- 18.00%
- EPS 3Y
- 37.00%
Balance Sheet
- Debt/Equity
- 0.13
- Interest Coverage
- —
- Altman Z
- 1.81
- Book Value
- 20.20
Cash Flow
- FCF Yield
- 6.87%
- FCF Positive Y
- 4/5
- OCF
- 4780.00 Cr
- EPS TTM
- 3.09
Shareholding
- Promoter Hold
- 92.44%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 10%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 8,778+3.4% vs prev
Net Profit
₹ CrLatest: 1,716+10.3% 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
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 42. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.2% over last month) — short-term momentum negative.
- RSI(14) at 42 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
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
25
RS percentile
Stage 4 Downtrend
1M return
-4.5%
3M return
-12.3%
6M return
-13.2%
1Y return
-24.3%
RS 1D
-2
RS 20D
+3
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is 8.2% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 82.84+0.12%
RS vs Nifty 50083
Valuation & peers
U-Score 64 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 64 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
UNDERVALUED
Fundamental score breakdown
U band · UNDERVALUEDValuation20/30
Growth16/25
Quality8/20
Balance Sheet7/15
Cash Flow9/10
Piotroski
5/9 (+3)
Penalties
1
Raw sum
64
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
64/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 6.9%.
- Fair-value margin of safety is positive at 61.0%.
- Cash flow contributes 9/10 to the score.
Main drags
- Quality is weaker at 8/20; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
- Growth is weaker at 16/25; verify the latest quarterly trend.
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.
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.
PE
10.1
PB
1.6
EV/EBITDA
—
ROE
15.6%
ROCE
6.1%
FCF Yield
6.9%
Debt/Equity
0.1
MoS
+61.0%
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
64
Previous: 64
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+61.0%
Previous: +61.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
64
64
64
66
64
64
64
64
64
64
64
64
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
₹37.48
+18.1% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹78.8
+61.0% MoS
PEG
0.23
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MAHABANK
Large
Bank of Maharashtra
Banking
match 167
64
8.5
22.6%
+68%
UNDERVALUED
BANKINDIA
Large
Bank of India
Banking
match 167
72
5.0
12.4%
+79%
UNDERVALUED
UCOBANK
Large
UCO Bank
Banking
match 162
57
10.0
8.5%
+68%
FAIR VALUE
CENTRALBK
Large
Central Bank of India
Banking
match 162
68
6.2
11.9%
+76%
UNDERVALUED
UNIONBANK
Large
Union Bank of India
Banking
match 156
63
6.4
15.7%
+75%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
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 2026-07-21T07:14:32.015Z
Management commentary snapshot
Indian Overseas Bank reports robust Q1FY27 performance with Net Profit up 49.32% YoY to Rs 1659 Cr, driven by 34.30% YoY NII growth and 22.75% YoY advances growth. Asset quality improved significantly with GNPA at 1.33% and NNPA at 0.18%.
The bank demonstrated strong financial and operational improvements, with significant growth in advances, deposits, and profitability. Asset quality metrics show continued improvement, and capital adequacy remains robust, supporting future growth. However, the sharp rise in operating expenses warrants close monitoring.
Current business mix
Advances by Segment (June 2026)
Latest issuer-disclosed distribution across 4 reported categories.
Retail32.0%
Agri37.0%
MSME17.0%
Corporate/others14.0%
Growth engines
Retail Advances
Grew 36.49% YoY to Rs 96,637 Cr in Jun-26, contributing 32% to total advances.
Agriculture Advances
Grew 46.84% YoY to Rs 112,403 Cr in Jun-26, contributing 37% to total advances.
MSME Advances
Grew 16.15% YoY to Rs 52,554 Cr in Jun-26, contributing 17% to total advances.
Digital Adoption
UPI registered users grew to 166.62 lakhs, Mobile Banking to 137.65 lakhs, and Internet Banking to 40.57 lakhs in Jun-26.
Capacity and execution
Domestic Branches
Increased to 3522 in Jun-26 from 3494 in Mar-26 and 3345 in Jun-25.
ATM/CR Outlets
Increased to 3691 in Jun-26 from 3651 in Mar-26 and 3461 in Jun-25.
Business Correspondents (BC)
Increased to 13401 in Jun-26 from 12187 in Mar-26 and 10872 in Jun-25.
Tailwinds
Strong RAM Segment Growth
Retail, Agri, and MSME segments are driving advances growth, with RAM to Advances ratio at 81.21% in Jun-26.
Improved Asset Quality
Consistent reduction in GNPA and NNPA ratios, with slippage ratio at 0.06% in Jun-26, indicating better credit health.
Digital Transformation
Increasing digital user base and new digital offerings like IOB Digital FD, VCIP, WhatsApp Banking, and Unified Lending Interface (ULI).
Headwinds
Operating Expenses Growth
Operating expenses increased 68.81% YoY and 50.52% QoQ, significantly outpacing operating profit growth.
CASA Ratio Decline (YoY)
Global CASA% declined 273 bps YoY, though it saw a slight QoQ increase.
Risk radar
Operational Risk RWA Increase
Operational Risk RWA increased to Rs 26,365 Cr in Jun-26 from Rs 22,587 Cr in Mar-26.
Staff Expenses Surge
Staff expenses grew 80.45% YoY and 109.15% QoQ, contributing significantly to the rise in operating expenses.
Volatility in Non-Interest Income
Profit/Loss on Sale of Investments was volatile, with a loss of Rs 63 Cr in Mar-26 before a gain of Rs 194 Cr in Jun-26.
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
The document provides both YoY and QoQ comparisons for most financial metrics, which is crucial for assessing both long-term trends and recent sequential momentum in a financial services business like banking.
Sector KPIs management disclosed
NIM (Domestic)
3.48% for Jun-26, up 31 bps YoY from 3.17% in Jun-25.
NIM (Global)
3.37% for Jun-26, up 33 bps YoY from 3.04% in Jun-25.
Advances Growth (Global)
22.75% YoY to Rs 322,132 Cr in Jun-26; 3.77% QoQ from Mar-26.
Total Deposits Growth
13.72% YoY to Rs 376,193 Cr in Jun-26; 2.17% QoQ from Mar-26.
Management forward view
Digital Transformation Focus
Management is focused on self-service, mobile-first digital solutions, robotic automation, AI/ML, and leveraging Digital Public Infrastructure.
Customer-Centric Innovations
Launching IOB Digital FD, VCIP, IOB BUDDY chatbot, IOB Digital Hub, and online Re-KYC to enhance customer experience.
Employee-Centric Innovations
Implementing IOB Gold Nest, Geo-location based lead generation, Tab Banking, and Loan Origination System for operational efficiency.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Operating Expenses Growth | 68.81% YoY, 50.52% QoQ | Moderation in operating expense growth to sustain profitability and improve cost-to-income ratio. |
| CASA Ratio (Global) | 41.05% | Stability or improvement in CASA ratio to manage cost of funds and maintain NIM. |
| Slippage Ratio | 0.06% | Continued low slippage ratio to maintain asset quality and control credit costs. |
| RAM Segment Contribution | 81.21% of advances | Sustained high growth and contribution from Retail, Agri, and MSME segments to drive overall advances growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
77Limited 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 83rd percentile of the scored universe and 90th percentile within Financial Services. Main check: financial discipline is weak at 56/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
104 docs text-extracted · 16 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
83rd percentile
overall median 67 · Financial Services: 90th pctile, median 62 · Large: 65th pctile, median 73
Evidence depth
Financial-only
104 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 confidenceWhat 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
Can support position sizing if valuation and trend also agree.
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
78
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
56
watch · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 92.4%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 6.9%.
- ▸4 years of positive FCF.
Trust risks
- ▸Promoter holding fell 2.2%.
- ▸ROCE is low at 6.1%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Indian Overseas Bank
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Interest Rates Updates 7 Oct - IOB revises RLLR to 8.35% from 8.10%, effective 08.10.2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances 25 Sep - UFBU has proposed bank strike on 28-30 September 2026; branch functioning may be affected.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Interest Rates Updates 13 Aug - Indian Overseas Bank revises MCLR by 5 bps on 3- to 3-year tenors, effective 15.08.2026.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 31 Jul - CARE upgraded IOB Tier-II bonds to AA+ Stable and reaffirmed A1+ on CDs.
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 20 Jul - Indian Overseas Bank reports Q1 FY27 net profit up 49.32% to ₹1,659 crore on July 20, 2026.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Jul - Intimation of Analyst Meet scheduled on July 20, 2026
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Management 1 Jul - Indian Overseas Bank announced senior management elevations and functional reallocations effective 1 and 6 July 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Jul - Newspaper publication of Financial Results for the quarter ended 30.06.2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 30 Jun - Nataraj Karyampudi retires as Chief Compliance Officer on 30.06.2026; Alagarsamy S appointed from 01.07.2026.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.