Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Oct - Intimation under Regulation 30 & 47 of SEBI (LODR) Regulations, 2015
Source: Bse
The South Indian Bank Limited (SOUTHBANK)
Micro CapFinancial Services stocks · Micro cap · NSE
The South Indian Bank Ltd. is a private sector bank in India, focusing on retail, MSME, and high-quality corporate segments. It emphasizes asset quality, collection efficiency, digital channels, and cost management, with a pan-India presence and a diversified deposit base.
Data qualityVerify one data layerQuote updated 19 Oct, 05:56 pm ISTPost-result recalculation pendingDetails
Quote19 Oct, 05:56 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result15 Oct, 01:23 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
65Bullishfull bull SMA stack · SMA20 +5.9% / mo · RSI overbought · MACD + · near 52W high
Stock trend: 78
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
SOUTHBANKD candles · FIT view+40.5%Latest close ₹54.26 on 2026-10-19
Bar
+5.5%
RSI
74
MACD hist
0.54
52W pos
97%
2026-10-19O ₹51.45H ₹54.86L ₹51.26C ₹54.26Vol 5.9Cr 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
SOUTHBANKNifty Financial ServicesNifty 500
- SOUTHBANK
- +17.5%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +23.1 pp
Chart stats
19 Oct 2026- From 52W high
- -1.1%
- 52W range position
- 97%
- ATR (14)
- 3.4%
- Volume vs 20D
- 2.96x
- Avg traded value
- ₹111 Cr
- 20D price channel
- ₹44.9 - ₹54.9
₹54.9
₹31.1 - ₹54.9
₹1.8
Latest completed session
20-session average
40.8% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE51
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +35.6% · PAT +21.1% YoY
Technical
Bullish65
Price trend and sector-relative-strength timing.
Valuation
Legacy model+63.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence70
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 Sept 2026
Good · 70/100Rev +36% YoY · PAT +21% YoY · +24% QoQ
Filed 15 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,263.8 Cr | +35.6% | +24.2% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹426.3 Cr | +21.1% | +12.8% |
| PAT margin | 13.1% | -156 bps | -132 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.55
- P/B
- 1.10
- EV/EBITDA
- —
- Market Cap
- 12990.00Cr
Profitability
- ROE
- 13.50%
- ROCE
- 6.42%
- ROA
- 1.07%
- Dividend Y
- 0.91%
Growth (CAGR)
- Revenue 5Y
- 6.00%
- EPS 5Y
- 88.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- —
- Altman Z
- 1.96
- Book Value
- 45.10
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- 3907.00 Cr
- EPS TTM
- 5.77
Shareholding
- Promoter Hold
- —
- Promoter Pledge
- 0.00%
- Momentum 52W
- 94%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 10.0-9.1% vs prev
Net Profit
₹ CrLatest: 1,456+11.7% vs prev
Return on Equity
%Latest: 12.8-1.1% vs prev
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
Bullish setupTrend is constructive — long-term uptrend intact. RSI 74.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~5.5% over last month) — short-term momentum positive.
- RSI(14) at 74 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 3% of 52-week high — testing resistance.
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
86
RS percentile
Stage 2 UptrendEstablished S2
1M return
+17.8%
3M return
+17.5%
6M return
+36.2%
1Y return
+39.2%
RS 1D
+3
RS 20D
+3
Sector rank
#10
Industry rank
#20
Stage evidence
- Price is 23.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
09 Jun 2026
S2 age
93 trading sessions
Sector
weakening
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 195.45+6.55%
RS vs Nifty 500195
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 51 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation24/30
Growth14/25
Quality2/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
-1
Raw sum
51
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
51/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 63.1%.
- Valuation contributes 24/30 to the score.
- Growth contributes 14/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; 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
8.6
PB
1.1
EV/EBITDA
—
ROE
13.5%
ROCE
6.4%
FCF Yield
—
Debt/Equity
0.0
MoS
+63.1%
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
51
Previous: 51
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+63.1%
Previous: +63.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
53
53
53
53
52
52
52
51
51
51
51
51
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
₹76.52
+29.1% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹147.14
+63.1% MoS
PEG
0.14
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
PSB
Small
Punjab & Sind Bank
Banking
match 160
53
10.1
9.6%
+60%
FAIR VALUE
CENTRALBK
Large
Central Bank of India
Banking
match 149
68
6.2
11.9%
+76%
UNDERVALUED
UCOBANK
Large
UCO Bank
Banking
match 149
57
10.0
8.5%
+68%
FAIR VALUE
SBIN
Large
State Bank of India
Banking
match 143
62
10.5
15.4%
+59%
UNDERVALUED
UNIONBANK
Large
Union Bank of India
Banking
match 143
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 2026-07-17T00:41:21.146Z
Management commentary snapshot
Q1FY27 saw robust PAT growth (+17% YoY) driven by strong NII (+23% YoY) and improved asset quality with GNPA at 1.38% and NNPA at 0.26%. Advances grew 17% YoY, while deposits increased 11% YoY. Operating profit declined 12% YoY due to non-interest income drop.
The bank continues to execute its strategy of improving asset quality, growing RAM segments, and enhancing digital efficiency. While non-interest income was weak, core NII and asset quality trends are positive, supporting the ongoing turnaround narrative.
Current business mix
Loan Book by Segment (Q1’FY27)
Latest issuer-disclosed distribution across 2 reported categories.
Retail, Agri, MSME (RAM)60.0%
Corporate40.0%
Growth engines
Shift to MSME and Retail
Management states 'Shift from Corporate to MSME and Retail gathers momentum' and 'Consistent growth momentum in business and retail advances continues'.
Digital Channel Focus
Management states 'Focus on digital channel to drive operating efficiency' and highlights 'Multitude of Digital Initiatives' and 'AI at South Indian Bank'.
Diversified Loan Book
The bank has a 'Diversified loan book – focused on Retail, MSME and high-quality Corporate' with ~60% other than corporate.
Pan India Presence
The bank has a network of 953 branches across India, with a 'Diversifying Loan Book Outside Kerala'.
Capacity and execution
Branch Network Expansion
The number of branches increased to 953 in Q1FY27 from 948 in Q1FY26.
Tailwinds
Improving Asset Quality
Management states 'Portfolio quality continues to improve' with GNPA and NNPA at lowest levels.
Cost Management
Management states 'Cost continues to be managed tightly' and 'Expenses being tracked closely'.
Branch Productivity
Management claims 'Material increase in branch productivity' and 'Improving productivity metrics'.
Headwinds
Non-Interest Income Decline
Non-Interest Income decreased by 39% YoY to Rs. 379 Cr in Q1FY27 from Rs. 622 Cr in Q1FY26.
Treasury & Forex Income Volatility
Treasury & Forex income decreased by 83% YoY to Rs. 44 Cr in Q1FY27 from Rs. 256 Cr in Q1FY26.
Risk radar
Disbursement Growth Slowdown
Total disbursements saw a significant 31% YoY decline in Q1FY27, indicating potential challenges in loan book expansion momentum.
Operating Profit Contraction
Operating Profit declined 12% YoY to Rs. 592 Cr in Q1FY27, despite strong NII growth, primarily due to lower non-interest income.
Corporate Loan Concentration
Corporate loans still constitute 40% of the loan book, despite the stated shift, posing concentration risk if quality deteriorates.
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
YoY comparison is crucial for assessing overall growth, asset quality trends, and the impact of strategic shifts over a full cycle. QoQ comparison is important for tracking sequential momentum in disbursements, NIM, and slippages.
Sector KPIs management disclosed
Gross Advances Growth
Gross Advances grew to Rs. 104,368 Cr in Q1FY27 from Rs. 89,198 Cr in Q1FY26, a 17% YoY increase.
Total Disbursements
Total Disbursements were Rs. 36,048 Cr in Q1FY27, down from Rs. 52,305 Cr in Q1FY26, a 31% YoY decline.
Net Interest Margin (NIM)
NIM was 3.23% in Q1FY27, up from 3.03% in Q1FY26 (+20 bps YoY) and 2.95% in Q4FY26 (+28 bps QoQ).
Cost of Deposits
Cost of Deposits was 5.06% in Q1FY27, down from 5.49% in Q1FY26.
Management forward view
Building Frictionless Processes
Management is focused on 'Building Frictionless Processes' through STP models for various loan products like GST Power, LAP Power, and SME Power.
Growing Non-Branch Distribution
The bank aims to grow 'non-branch Distribution & Leveraging Partnerships' including co-lending and fintech tie-ups for deposits and loans.
Enhancing Operating Efficiency
Management is focused on 'Improving Operating efficiency' through branch process reengineering, digitization, and staff training/re-skilling.
Enhancing Control / Compliance Architecture
This is identified as a 'Key Area of Focus' for the way forward.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 3.23% | Sustained improvement in NIM, indicating effective asset-liability management and pricing power. |
| Net Non-Performing Assets (NNPA) | 0.26% | Continued maintenance of low NNPA levels, confirming robust asset quality and collection efficiency. |
| Total Disbursements Growth | Rs. 36,048 Cr (Q1FY27) | Recovery and consistent growth in disbursements, especially in RAM segments, to support future advances growth. |
| Non-Interest Income | Rs. 379 Cr (Q1FY27) | Stabilization and growth in non-interest income to support overall profitability and reduce reliance on NII. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
70Limited 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 63rd percentile of the scored universe and 75th percentile within Financial Services. Main check: cash conversion is weak at 55/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
128 docs text-extracted · 39 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
63rd percentile
overall median 67 · Financial Services: 75th pctile, median 62 · Micro: 43rd pctile, median 73
Evidence depth
Financial-only
128 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
Acceptable, but check the weakest sub-score before increasing exposure.
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
55
watch · profit to cash conversion
Balance sheet
80
strong · leverage and solvency
Discipline
56
watch · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Debt/equity is 0.03.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸ROCE is low at 6.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching The South Indian Bank Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Oct - Intimation of schedule of Conference call for Investors and Analysts
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances 26 Sep - UFBU calls 3-day strike from Sep 28-30, 2026; bank branches may be affected, ATMs/digital channels continue.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 24 Sep - Allotment of Equity Shares under SIB ESOS Scheme-2008
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - Intimation of Schedule of Analysts / Institutional Investors meet pursuant to SEBI (LODR) Regulations, 2015.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Aug - Newspaper Advertisement regarding opening of Special Window for Transfer and Dematerialisation of Physical Securities
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 24 Aug - Allotment of Equity shares under SIB ESOS Scheme-2008
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul - Intimation under Regulation 30 & 47 of SEBI (LODR) Regulations, 2015
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Jul - Newspaper Advertisement regarding opening of Special Window for Transfer and Dematerialisation of Physical Securities
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 24 Jun - Allotment of Equity Shares under SIB ESOS Scheme-2008
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 22 May - Allotment of Equity shares under SIB ESOS Scheme -2008
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.