IndusInd Bank: PAT growth of 21% & Total Income growth of 16% in FY24 at a PE of 12 & price to book of 1.8
IndusInd Bank: PAT growth of 21% & Total Income growth of 16% in FY24 at a PE of 12 & price to book of 1.8
Guidance of 18-23% CAGR in loan growth till FY26. INDUSINDBK looks on track to meet its overall FY26 guidance. Delivered 4 quarters of sequential EPS growth in FY24. At a reasonable valuations
1. 5th Largest Private Bank
indusind.com | NSE: INDUSINDBK
2. FY20-24: PAT CAGR of 19% & Total Income CAGR of 12%
3. Strong 9M-24 : PAT up 23% & Total Income up 17% YoY
4. Strong Q4-24 : PAT up 15% & Total Income up 15% YoY
5. Strong FY24 : PAT up 21% & Total Income up 16% YoY
6. Strong & consistent return ratios
7. Outlook: 18-23% loan growth CAGR for FY23-26
FY24 performance on track to deliver as per targets.
8. PAT growth of 21% & Total Income growth of 16% in FY24 at a PE of 12
9. So Wait and Watch
If I hold the stock then one may continue holding on to INDUSINDBK
Coverage of INDUSINDBK was initiated after Q2-24 results. The investment thesis has not changed after a strong FY24. There is confidence that INDUSINDBK is on track to deliver a strong FY25 in line with is guidance as part of Planning Cycle 6 for FY23-26.
INDUSINDBK is in the middle of a strong run and has delivered a sequential EPS growth in all the 4 quarters of FY24
There is an outlook for strong loan growth till FY26 where INDUSINDBK is targeting 18-23% loan growth
10. Or, join the ride
If I am looking to enter INDUSINDBK then
INDUSINDBK has delivered a strong FY24 with PAT growth of 21% & total income growth of 16% at a PE of 12 which makes the valuations reasonable in the short term.
From a longer term perspective the outlook for loan growth of 18-23% till FY26 at a PE of 12 makes the valuations quite attractive.
From a price to book perspective, INDUSINDBK has a net-worth of Rs 61445.1 cr on a market cap of Rs 109,659 cr implying its available at P/B of less than 1.8 which makes the valuations reasonable
Previous coverage of INDUSINDBK
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