IndusInd Bank Ltd
INDUSINDBKIndusInd Bank Ltd is coiled. The quarters are improving, yet the P/BV sits at the 20th percentile of its own 10-year range — the business is moving before the market.
The sharpest disagreement: the price moved +18.1% in a year while annual EPS moved −65.5% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (7 weeks in) while the P/BV sits at the 20th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +71.7% year on year, and gross NPA has eased to 3.25%. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
IndusInd Bank Ltd trades at ₹1,027, in a confirmed uptrend and 7 weeks into that stage. That is +14.6% against its own 200-day average. It sits at 100% of a 52-week range of ₹713 to ₹1,027. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.
Today the stock is in a confirmed uptrend — week 7 of stage 2, confirmed. At ₹1,027 it trades +14.6% versus its 200-day average and sits at 100% of its 52-week range (₹713–₹1,027).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +26% while the NIFTY 500 moved +280% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/BV sits at the 20th percentile of its own range.
Valuation For a bank we price the book, not the earnings: P/BV is what the market pays for each ₹1 of the bank's net worth. A bank below 1× book is priced below the value of what it owns, net of what it owes.
IndusInd Bank Ltd trades at 1.2× P/BV, near the bottom of its own range — cheaper only 20% of the time. Its long-run median P/BV is 2.0×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/BV of 1.2× is near the bottom of its own range — cheaper only 20% of the time, against a long-run median of 2.0× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
The honest context for that discount: a bank earning about 1% on its equity is worth less per rupee of book, and the market has priced that in rather than overlooked it. The discount closes only if the returns themselves improve.
🚨 Why the multiple sits where it does: over the past year book value grew while the price moved +18.1% — price and book moved together, holding the multiple in its range.
The price move, decomposed: over 5y, of the −0.3%/yr price move, ~+10.9%/yr came from book-value growth and ~−11.2 pp from the multiple (compressing); over 10y, of the −0.9%/yr price move, ~+10.7%/yr came from book-value growth and ~−11.6 pp from the multiple (compressing). The split is the honest approximate (price return minus book-value growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the book-value line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
IndusInd Bank Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −109.3% at the trough to +31.2%, a 2-quarter improving streak, ROE holding at 1.4%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −5.0% | +8.3% | +9.8% | +14.6% |
| Profit | −65.5% | −50.8% | −21.2% | −9.0% |
| EPS | −65.5% | −50.8% | −21.3% | −11.4% |
| Share price | +18.1% | −9.3% | −0.3% | −0.9% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
32.4/100 — rank 18 of 18 in Banks - Private · 100% evidence confidence
IndusInd Bank Ltd scores 32.4 out of 100 against the 18 companies it is compared with in Banks - Private, ranking 18. Price leads the evidence: RS versus the benchmark is 19%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
The four contributions add to the total exactly: 12.6 + 2.5 + 3.2 + 14.1 = 32.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if ROA rolls over or gross NPA rises while sector-relative strength deteriorates.
Revenue For a bank, revenue is everything the franchise earns — interest on the loan book plus fee and other income.
IndusInd Bank Ltd reported ₹11,310 Cr of income in the Jun 26 quarter, −7.8% year on year. Over 10 years it has compounded at 14.6% a year. The last full year, FY26, came in at ₹46,251 Cr. The last four reported quarters add to ₹45,297 Cr.
IndusInd Bank Ltd reported ₹11,310 Cr of income in the Jun 26 quarter, −7.8% year on year. Over 10 years it has compounded at 14.6% a year. The last full year, FY26, came in at ₹46,251 Cr. The last four reported quarters add to ₹45,297 Cr.
FY26 revenue came in at ₹46,251 Cr (−5.0% on the year), capping 10 years at 14.6% compound. The latest quarter (Jun 26) printed ₹11,310 Cr, −7.8% year on year.
Pace check: the last four quarters averaged −6.0% growth against the decade's 14.6% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −6.4% over the last 4 quarters against −2.4%/yr over the last 8 — rolling over; TTM profit +31.2% vs −61.7%/yr — accelerating.
→ Revenue slipped — did the net margin hold as it scaled? Next: 9.2% this quarter (+4.3 pp YoY).
Net margin Net margin — what the bank keeps of every ₹100 of revenue after every cost, provision and tax. It is the cleanest single margin we can read for a lender.
IndusInd Bank Ltd's net margin is 9.2% in the Jun 26 quarter, +4.3 percentage points against the same quarter a year ago. Across 13 fiscal years the net margin has ranged 1.9% to 20.9%. The current quarter sits inside that band.
IndusInd Bank Ltd's net margin is 9.2% in the Jun 26 quarter, +4.3 percentage points against the same quarter a year ago. Across 13 fiscal years the net margin has ranged 1.9% to 20.9%. The current quarter sits inside that band.
The latest quarter's net margin is 9.2%, +4.3 pp against the same quarter a year ago. Across 13 fiscal years the net margin has ranged 1.9%–20.9%.
Why: the numbers show the net margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.
→ The net margin held — did that reach the bottom line? Next: profit +71.7% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
IndusInd Bank Ltd earned ₹1,037 Cr of net profit in the Jun 26 quarter, +71.7% year on year. Full-year FY26 profit was ₹889 Cr. The 10-year compound rate is −9.0%. That is 9.2% of the quarter's revenue. The same quarter a year earlier earned ₹604 Cr. 2 of the last 12 reported quarters were loss-making.
IndusInd Bank Ltd earned ₹1,037 Cr of net profit in the Jun 26 quarter, +71.7% year on year. Full-year FY26 profit was ₹889 Cr. The 10-year compound rate is −9.0%. That is 9.2% of the quarter's revenue. The same quarter a year earlier earned ₹604 Cr. 2 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹1,037 Cr, +71.7% year on year. On the full year, FY26 printed ₹889 Cr (−65.5%), and the 10-year compound rate is −9.0%.
Why profit moved: revenue contributed −7.8% and the margin +4.3 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit −50.7% vs revenue −6.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit is up — how clean is the loan book behind it? Next: gross NPA is 3.25%, 4 quarters better in a row.
Asset quality — the ladder Gross NPA is the slice of the loan book where repayments have stopped. Net NPA is what remains after the money already set aside against those loans. Falling is healing; rising is damage arriving.
IndusInd Bank Ltd's gross NPA is 3.25% of the loan book in Jun 26, down from 3.64% a year ago. Net of provisions already set aside, 0.95% remains. That is the 4th straight quarter of improvement. Across the 12 quarters held here the book has ranged 1.92% to 3.64%.
Jun 26: gross NPA at 3.25% and net NPA at 0.95%, against 3.64% / 1.12% a year ago. Over the 12 quarters we hold, the book's worst reading was 3.64% and its best is 1.92%. The ladder has now improved for 4 consecutive quarters.
The synthesis: profit growth at a bank is only as good as the book behind it, and this book is healing on a multi-quarter streak. A note on depth: quarterly provisioning detail is not in our numbers yet, so this ladder reads levels and trend, not the cost of the cleanup.
Why the ladder moved: recoveries, write-offs and slippages each play a part, and that split sits below what we hold — the numbers show the healing; the driver mix does not travel with them.
→ Behind a cleaner book — is the book itself still growing? Next: revenue grew −5.0% in FY26.
The loan book We read the loan book through revenue — when the book grows, revenue grows with it. It is a rough proxy, and we say so: rate moves and fee swings can shift it a few points in any one year.
IndusInd Bank Ltd's revenue grew −5.0% in FY26 to ₹46,251 Cr, so the book is flat. The latest quarter ran −7.8% year on year. The net margin on that income is 9.2%, +4.3 percentage points against a year ago. Interest income is a proxy for the book; rate moves can shift it a few points in any one year.
FY26 revenue was ₹46,251 Cr, −5.0% on the year, and the latest quarter ran −7.8% year on year. The net margin on that revenue is 9.2% this quarter (+4.3 pp YoY) — growth with a widening margin on it.
The synthesis: a lender compounds when the book grows while the margin holds and the loan book stays clean — gross NPA is the loan-quality read we carry here.
→ Does all of this actually earn its keep on equity? Next: ROE is 1%.
Returns on equity and assets Two numbers rate a bank: ROE — what it earns on shareholder money — and ROA — what it earns on everything it deploys. ROE above ~13–15% earns its keep; below that, growth builds book slowly.
IndusInd Bank Ltd earns a return on equity of 1% in FY26. Its trough over the ladder below was 1% in FY26. For a lender the balance sheet is the operating asset, so equity return and asset return have to be read together.
FY26 ROE came in at 1%. On assets, the latest reading is about null% — every ₹100 the bank deploys earns roughly null a year. That return is below the bar a bank must clear to compound book value quickly — which is also the honest reason the stock trades where it does.
Why: the ROE ladder shows the move; the deposit-cost and provisioning drivers behind it sit below what we hold.
→ Who owns this bank, and are they adding or leaving? Next: Domestic institutions added 12.2 points over 8 quarters.
Debt
For a bank, borrowings are raw material, not a warning sign — solvency is read through the returns and the loan book. A manufacturer’s debt is a claim against its profits, so the debt-to-equity lens that works everywhere else misleads on a lender and is not applied here.
A manufacturer’s debt is a claim against its profits; a bank’s borrowings are its inventory — money taken in to be lent out. The debt lens that works everywhere else misleads here, so this page does not apply it. The solvency questions for a bank — is the loan book sound, is the equity earning — are read through the loan-book and returns sections above.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 12.2 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 12.2 points of IndusInd Bank Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 41.9% of the company. Foreign institutions moved −9.2 points over the same window, to 29.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +12.2 points over 8 quarters to 41.9%; Foreign institutions: −9.2 points over 8 quarters to 29.2%; Promoters: −0.6 points over 8 quarters to 15.8%. Note the structure: promoters hold under 20% — this is a widely-held company where institutions, not a family, set the direction.
Why the register moved: rotation — foreign institutions −9.2 points against domestic institutions +12.2 points over 8 quarters, with promoters −0.6 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
IndusInd Bank Ltd: the Z-score is omitted — it was built for manufacturers, not banks, and applying it here would be theatre. The Z-score was built for manufacturers and is not applied to banks and lenders, so solvency here is read from the capital and asset-quality lines instead.
The safety line in one sentence: the Z-score is omitted — it was built for manufacturers, not banks, and applying it here would be theatre.
| Company | P/BV | Mkt cap | Revenue | EPS | ROE | Stage |
|---|---|---|---|---|---|---|
| IndusInd Bank Ltd this page | 1.2× | ₹77,606 Cr | Turning around | |||
| HDFC Bank Ltd | 1.9× | ₹11.4L Cr | Consistent | |||
| ICICI Bank Ltd | 2.7× | ₹10.3L Cr | Consistent | |||
| Kotak Mahindra Bank Ltd | 2.1× | ₹3.8L Cr | Turning around | |||
| Axis Bank Ltd | 1.7× | ₹3.8L Cr | Mixed | |||
| Federal Bank Ltd | 2.2× | ₹87,481 Cr | Turning around | |||
| Yes Bank Ltd | 1.4× | ₹72,033 Cr | Mixed | |||
| IDFC First Bank Ltd | 1.4× | ₹69,616 Cr | Turning around | |||
| RBL Bank Ltd | 1.3× | ₹54,649 Cr | Turning around | |||
| Karur Vysya Bank Ltd | 2.3× | ₹32,756 Cr | Consistent | |||
| Bandhan Bank Ltd | 1.1× | ₹26,733 Cr | Turning around | |||
| City Union Bank Ltd | 2.1× | ₹21,773 Cr | Consistent | |||
| Jammu and Kashmir Bank Ltd | 1.1× | ₹19,003 Cr | Turning around | |||
| Tamilnad Mercantile Bank Ltd | 1.3× | ₹12,739 Cr | Consistent | |||
| South Indian Bank Ltd | 1.0× | ₹12,179 Cr | Consistent | |||
| Karnataka Bank Ltd | 0.8× | ₹10,581 Cr | Turning around | |||
| DCB Bank Ltd | 0.9× | ₹5,998 Cr | Consistent | |||
| Dhanlaxmi Bank Ltd | 0.9× | ₹1,353 Cr | Mixed |
Frequently asked questions
What is IndusInd Bank Ltd's share price today?
IndusInd Bank Ltd trades at ₹1,027, +18.1% over the past year. The company is valued at ₹77,606 Cr. The stock sits at 100% of its 52-week range of ₹713–₹1,027, +14.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 7 weeks in. — as of 24 July 2026.
What were IndusInd Bank Ltd's latest quarterly results?
IndusInd Bank Ltd reported total income of ₹11,310 Cr and net profit of ₹1,037 Cr for the Jun 26 quarter. Income fell 7.8% and profit rose 71.7% year on year. Earnings per share were ₹13.31. The net margin was 9.2%, 4.3 pp higher than a year earlier. — as of 24 July 2026.
What is IndusInd Bank Ltd's revenue?
IndusInd Bank Ltd reported revenue of ₹11,310 Cr in the Jun 26 quarter, −7.8% year on year. For the full FY26 fiscal year, revenue was ₹46,251 Cr (−5.0%). Over the last 10 years revenue compounded at 14.6% a year. — as of 24 July 2026.
What is IndusInd Bank Ltd's profit?
IndusInd Bank Ltd earned ₹1,037 Cr of net profit in the Jun 26 quarter, +71.7% year on year. Full-year FY26 profit was ₹889 Cr. The net margin ran 9.2% in the latest quarter. — as of 24 July 2026.
What is IndusInd Bank Ltd's market cap?
IndusInd Bank Ltd's market capitalisation is ₹77,606 Cr at a share price of ₹1,027. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is IndusInd Bank Ltd's P/BV ratio?
IndusInd Bank Ltd trades at a P/BV of 1.2×, at the 20th percentile of its own 10-year range, against a long-run median of 2.0×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does IndusInd Bank Ltd pay a dividend?
Yes — IndusInd Bank Ltd's dividend payout was 13% of profit in FY26, and it recorded a payout in 11 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is IndusInd Bank Ltd overvalued?
On its own history, IndusInd Bank Ltd looks cheap against its own history: its P/BV of 1.2× has been cheaper only 20% of the time in 10 years (long-run median 2.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is IndusInd Bank Ltd growing?
Yes — IndusInd Bank Ltd is growing: latest-quarter revenue −7.8% year on year, profit +71.7%, and the the net margin +4.3 pp at 9.2%. The 10-year compound rates are 14.6% (revenue) and −9.0% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is IndusInd Bank Ltd performing?
IndusInd Bank Ltd is in a confirmed uptrend, 7 weeks in. Its latest quarter's income fell 7.8% and profit rose 71.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is IndusInd Bank Ltd in?
Turning around — profit growth swung from −109.3% at the trough to +31.2%, a 2-quarter improving streak, ROE holding at 1.4%. The read comes from the last 12 quarters of growth (revenue growth −6.4% latest, profit growth +31.2% latest, eps growth +31.0% latest) plus the ROE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is IndusInd Bank Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 7 of stage 2), trading +14.6% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is IndusInd Bank Ltd beating the market?
On recent form, yes — IndusInd Bank Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +26% against the NIFTY 500's +280% — behind the index over the full window. — as of 24 July 2026.
Will IndusInd Bank Ltd's share price go up?
This page publishes no price forecast for IndusInd Bank Ltd. What it measures instead: the share price is ₹1,027, the price is in a confirmed uptrend 7 weeks in. Its P/BV of 1.2× sits at the 20th percentile of its own 10-year range. — as of 24 July 2026.
Who owns IndusInd Bank Ltd?
Promoters hold 15.8% of IndusInd Bank Ltd, foreign institutions 29.2%, domestic institutions 41.9% and the public 12.8% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 12.2 points over 8 quarters. — as of 24 July 2026.
Is IndusInd Bank Ltd's loan book healthy?
Gross NPA is 3.25% of IndusInd Bank Ltd's loan book, down from 3.64% a year ago — the 4th straight quarter of improvement, and net NPA stands at 0.95%. Falling NPAs are a loan book healing; rising NPAs are damage arriving — as of 24 July 2026.
Where is IndusInd Bank Ltd in its business cycle?
IndusInd Bank Ltd's FY26 net margin was 1.9%, against a 13-year band of 1.9%–20.9%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 9.2%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the IndusInd Bank Ltd story?
The sharpest disagreement: the price moved +18.1% in a year while annual EPS moved −65.5% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is IndusInd Bank Ltd a stock worth studying right now?
This is not investment advice. The machine read: IndusInd Bank Ltd is coiled. The quarters are improving, yet the P/BV sits at the 20th percentile of its own 10-year range — the business is moving before the market. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.