About
Indbank Merchant Banking Services Limited engages in the provision of merchant banking, stock broking, depository participant, and allied services in India. The company offers merchant banking services for public issues, rights issues, private placement, acquisition of shares and takeovers, and employee stock option schemes/stock purchase scheme by corporates. It also provides advisory services for valuation of shares and other financial instruments, syndication of loans, acquisitions, and mergers and amalgamations, as well as for project counseling, appraisal, and feasibility studies. In addition, the company offers stock broking services in the cash, derivatives, and wholesale debt market segments for retail and institutional investors, as well as in cash management; online trading services; and e-services, as well as distributes mutual funds and other investment products. Indbank Merchant Banking Services Limited was incorporated in 1989 and is based in Chennai, India. Indbank Merchant Banking Services Limited is a subsidiary of Indian Bank.
Key Metrics
as of Sep 2026Market Cap127 Cr
P/E17.50
Div Yield0.00 %
Book Value₹22.20
52w High₹47.20
52w Low₹28.10
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6.90 | 5.89 | 6.25 | 6.28 | 6.69 | 5.31 | 5.63 | 8.13 | 7.70 | 6.86 | 6.60 | 6.04 | 5.43 |
| Expenses | 3.74 | 4.06 | 3.59 | 3.63 | 3.78 | 3.65 | 3.60 | 3.62 | 3.86 | 3.54 | 3.24 | 2.73 | 3.35 |
| Operating Profit | 3.16 | 1.83 | 2.66 | 2.65 | 2.91 | 1.66 | 2.03 | 4.51 | 3.84 | 3.32 | 3.36 | 3.31 | 2.08 |
| OPM % | 45.80 | 31.07 | 42.56 | 42.20 | 43.50 | 31.26 | 36.06 | 55.47 | 49.87 | 48.40 | 50.91 | 54.80 | 38.31 |
| Other Income | 0.00 | 0.13 | 0.00 | 0.01 | 0.00 | 0.00 | 0.02 | 0.00 | 0.01 | 0.96 | 0.01 | 0.01 | 0.01 |
| Depreciation | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.10 | 0.11 | 0.11 | 0.12 | 0.09 | 0.10 | 0.09 | 0.09 |
| Interest | 0.01 | 0.01 | 0.02 | 0.09 | 0.07 | 0.04 | 0.05 | 0.02 | 0.02 | 0.01 | 0.00 | 0.03 | 0.03 |
| Profit before tax | 3.08 | 1.88 | 2.58 | 2.51 | 2.78 | 1.52 | 1.89 | 4.38 | 3.71 | 4.18 | 3.27 | 3.20 | 1.97 |
| Tax % | 23.05 | 35.64 | 25.97 | 26.29 | 23.02 | 25.00 | 38.10 | 24.66 | 23.18 | 39.95 | 21.71 | 24.38 | 22.84 |
| Net Profit | 2.38 | 1.21 | 1.92 | 1.86 | 2.14 | 1.14 | 1.17 | 3.30 | 2.85 | 2.50 | 2.56 | 2.42 | 1.52 |
| EPS in Rs | 0.54 | 0.27 | 0.43 | 0.42 | 0.48 | 0.26 | 0.26 | 0.74 | 0.64 | 0.56 | 0.58 | 0.55 | 0.34 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 24.95 | 26.57 | 24.76 | 18.24 | 20.62 | 14.91 | 11.47 | 10.39 | 13.82 | 10.54 | 9.03 | 10.11 |
| Expenses | 15.15 | 14.61 | 13.80 | 12.74 | 14.17 | 12.87 | 12.48 | 8.95 | 8.65 | 10.13 | 5.77 | 5.85 |
| Operating Profit | 9.80 | 11.96 | 10.96 | 5.50 | 6.45 | 2.04 | -1.01 | 1.44 | 5.17 | 0.41 | 3.26 | 4.26 |
| OPM % | 39.28 | 45.01 | 44.26 | 30.15 | 31.28 | 13.68 | -8.81 | 13.86 | 37.41 | 3.89 | 36.10 | 42.14 |
| Other Income | 0.42 | 0.24 | 2.11 | 1.62 | 3.83 | 4.56 | 5.77 | 2.13 | 0.81 | 6.55 | 0.59 | 2.63 |
| Interest | 0.22 | 0.26 | 0.08 | 0.89 | 1.53 | 1.53 | 1.52 | 1.53 | 1.58 | 0.81 | 0.11 | 0.29 |
| Depreciation | 0.24 | 0.44 | 0.38 | 0.37 | 0.20 | 0.19 | 0.30 | 0.23 | 0.43 | 0.53 | 0.60 | 0.69 |
| Profit before tax | 9.76 | 11.50 | 12.61 | 5.86 | 8.55 | 4.88 | 2.94 | 1.81 | 3.97 | 5.62 | 3.14 | 5.91 |
| Tax % | 27.05 | 26.43 | 28.63 | 40.10 | 18.60 | 17.01 | 28.91 | 2.76 | 44.08 | 5.16 | 12.10 | 15.40 |
| Net Profit | 7.12 | 8.46 | 9.00 | 3.50 | 6.96 | 4.06 | 2.09 | 1.77 | 2.22 | 5.34 | 2.76 | 4.99 |
| EPS in Rs | 1.60 | 1.91 | 2.03 | 0.79 | 1.57 | 0.91 | 0.47 | 0.40 | 0.50 | 1.20 | 0.62 | 1.12 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 | 44.38 |
| Reserves | 54.36 | 47.27 | 38.99 | 30.13 | 26.75 | 19.90 | 15.83 | 13.86 | 12.13 | 9.98 | 4.67 | 1.91 |
| Borrowings | 0.00 | 0.01 | 0.00 | 2.79 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | 1.58 | 0.00 | 0.00 |
| Other Liabilities | 24.40 | 26.23 | 22.97 | 20.08 | 21.33 | 19.91 | 13.94 | 9.30 | 24.47 | 24.39 | 8.66 | 6.20 |
| Total Liabilities | 123.14 | 117.89 | 106.34 | 97.38 | 92.46 | 84.19 | 74.15 | 67.54 | 81.01 | 80.33 | 57.71 | 52.49 |
| Fixed Assets | 3.05 | 3.13 | 3.32 | 3.55 | 3.71 | 3.37 | 3.33 | 3.58 | 3.73 | 4.07 | 4.53 | 5.06 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 3.02 | 1.83 | 2.44 | 1.37 | 1.30 | 0.80 | 0.19 | 0.45 | 1.24 | 2.10 | 3.04 | 3.47 |
| Other Assets | 117.07 | 112.93 | 100.58 | 92.46 | 87.32 | 80.02 | 70.63 | 63.51 | 76.04 | 74.16 | 50.14 | 43.96 |
| Total Assets | 123.14 | 117.89 | 106.34 | 97.38 | 92.46 | 84.19 | 74.15 | 67.54 | 81.01 | 80.33 | 57.71 | 52.49 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2.05 | -0.07 | -1.16 | -5.30 | 0.55 | 8.14 | 14.92 | 4.95 | 4.65 | 5.55 | 4.34 | 0.84 |
| Cash from Investing Activity | -1.44 | 0.56 | -0.17 | -1.03 | -0.98 | -8.44 | -10.32 | -3.41 | -2.94 | -6.47 | -4.56 | -4.31 |
| Cash from Financing Activity | -0.19 | -0.12 | -0.07 | -0.89 | -1.51 | -1.51 | 0.00 | 0.00 | -0.80 | 0.00 | 0.00 | 0.00 |
| Net Cash Flow | 0.41 | 0.37 | -1.40 | -7.22 | -1.93 | -1.80 | 4.61 | 1.54 | 0.90 | -0.92 | -0.22 | -3.47 |
| Free Cash Flow | 1.88 | -0.32 | -1.30 | -5.39 | -0.12 | 7.94 | 14.88 | 4.87 | 4.56 | 5.47 | 4.27 | 0.40 |
| CFO/OP % | 42.00 | 29.00 | 11.00 | -81.00 | 30.00 | 405.00 | -1,528.00 | 350.00 | 123.00 | 1,354.00 | 133.00 | 20.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 93.33 | 81.87 | 67.52 | 82.45 | 59.65 | 78.58 | 29.28 | 184.43 | 210.50 | 318.60 | 300.33 | 235.03 |
| Cash Conversion Cycle | 93.33 | 81.87 | 67.52 | 82.45 | 59.65 | 78.58 | 29.28 | 184.43 | 210.50 | 318.60 | 300.33 | 235.03 |
| Working Capital Days | 58.81 | -29.67 | 71.94 | 1.40 | -71.87 | -286.66 | -308.36 | -23.19 | 452.42 | 587.67 | 625.31 | 600.39 |
| ROCE % | 10.26 | 13.44 | 13.41 | 7.02 | 14.89 | 10.27 | 7.51 | 5.68 | 9.87 | 12.36 | 6.80 | 14.00 |
Corporate Actions
17 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 12 Sep 2024 | — | — | — | Annual General Meeting |
| Other | 07 Sep 2023 | — | — | — | Annual General Meeting |
| Other | 19 Sep 2022 | — | — | — | Annual General Meeting |
| Other | 17 Sep 2021 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2020 | — | — | — | Annual General Meeting |
| Other | 12 Sep 2019 | — | — | — | Annual General Meeting |
| Other | 31 Aug 2018 | — | — | — | Annual General Meeting |
| Other | 07 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 15 Sep 2016 | — | — | — | Annual General Meeting |
| Other | 16 Sep 2015 | — | — | — | Annual General Meeting |
| Other | 23 Sep 2014 | — | — | — | Annual General Meeting |
| Other | 17 Sep 2013 | — | — | — | Annual General Meeting |
| Other | 28 Jun 2012 | — | — | — | Annual General Meeting |
| Other | 18 Jul 2011 | — | — | — | Annual General Meeting |
| Other | 16 Jul 2010 | — | — | — | Annual General Meeting |
| Dividend | 07 Aug 2009 | — | — | 0.75 | |
| Dividend | 12 Jun 2008 | — | — | 1.50 |