Relative Valuation of Banking Sector

Rs.
Million
Mar-13
Company Name
Allahabad Bank
Andhra Bank
Axis Bank Ltd.
Bank Of Baroda
Bank Of India
Bank Of Maharashtra
Canara Bank
Central Bank Of India
Indian Overseas Bank
Indusind Bank Ltd.
Oriental Bank Of Commerce
Uco Bank
Union Bank Of India
United Bank Of India
State Bank of Travancore
Sales
194606.2
134800.7
335635.4
379251.7
357160.3
103813.8
364694.5
232848.7
221717
77360
188762.1
174244.7
265259
100216.6
92317.1
Rs. Million
Rs. Million
Mar-13
Other income
Rs. Million
Mar-13
PBDITA
2915.7
4866.2
159.2
9159.5
13671.6
2114.1
11722.5
4057.8
5446.6
150.6
5754.5
4386.1
11525.3
2954.8
610.1
Rs. Million
Mar-13
PBIT
170568.2
121402.4
272906.3
335352
319491.5
89724.5
326903.4
199438.7
196377.7
66632.5
168315.5
159092.2
233154.9
85159.9
80591.5
Mar-13
PBT
14121.97
10923.59
25069
28712.62
25892.67
7923.21
29871.04
17442.84
16172.26
6326.23
14535.28
12816.96
20646.1
7255.13
7401.52
15526.9
17710.7
75530.7
48312.3
30077.4
13431.3
36721
13199.6
7474.8
15763.6
15360.8
6467.8
30642.4
3815.2
8957.1
Rs. Million
Rs. Million
Mar-13
Net Income
Rs. Million
Mar-13
Cash outflow due to interest paid

11852.1
12891.3
51794.3
44807.2
27493.5
7595.2
28721
10149.6
5672.3
10611.8
13279.5
6182
21579.3
3919
6150.4
Mar-13
Total assets
-5212.3
-2792.1
-1135.5
-9302.8
-7867.5
-2481.1
-7305.7
-5895.2
-5776.6
-7235.8
-3088.6
-4029.4
-5427.1
-1702.7
-1900.8
2044291.5
1463268
3405861.7
5471354.5
4526027.3
1170535.4
4126741.3
2683424.8
2446560.5
734245.1
2010942
1989400.8
3126699.8
1146151.2
1016696.7
Rs. Million
Rs. Million
Mar-13
Total liabilities
Rs. Million
Mar-13
Current liabilities & provisions

2044291.5
1463268
3405861.7
5471354.5
4526027.3
1170535.4
4126741.3
2683424.8
2446560.5
734245.1
2010942
1989400.8
3126699.8
1146151.2
1016696.7
Mar-13
Total capital
41568.9
28886
108881.2
147033.9
111649.3
33414.5
109984.8
82141.2
57404.6
20999.9
43448.1
60455.1
72470.4
31371.5
38434.7
5000.3
5595.8
4679.5
4225.2
5966.4
12494.8
4430
26615.8
9241
9241
484.9
25756.3
7077.9
11747.1
500
Rs. Million
Rs.
Mar-13
Cash flow cash closing balance
Closing Price
130707.4
67895.9
204349.6
853989
548358.6
61728.5
347147
140922.1
152584.2
152584.2
54043.3
123441.2
162103.9
89885.6
47677
Rs.
1-Mar-13
137.65
93.75
1363.7
708.75
317.9
52.8
419.75
70.35
70.75
70.75
1282.2
59.05
220.9
61.45
540.45
1-Mar-13
Adjusted Closing Price
137.65
93.75
1363.7
708.75
317.9
52.8
419.75
70.35
70.75
70.75
1282.2
59.05
220.9
61.45
540.45
Nos.
Rs. Million
Rs.
1-Mar-13
1-Mar-13
Shares Outstanding
Market Capitalisation
EPS
500026189
68828.6
559580364
52460.66
467381027
637367.51
411123383
291383.7
573780370
182404.78
589592082
31130.46
443000000
185949.25
736115416
51785.72
796998198
56387.62
796998198
56387.62
48477802
62158.24
664712240
39251.26
550549035
121616.28
360998920
22183.38
50000000
27022.5
1-Mar-13
29.18
22.95
104.87
114.23
51.34
9.46
67.17
7.76
13.01
13.01
208.99
12.36
38.9
14.13
120.42
Times
Times
1-Mar-13
P/E
P/B
4.72
4.09
13
6.2
6.19
5.58
6.25
9.07
5.44
5.44
6.14
4.78
5.68
4.35
4.49
1-Mar-13
0.64
0.62
2.34
0.98
0.84
0.73
0.82
0.53
0.5
0.5
1.27
0.57
0.85
0.49
0.63
Rs.
Rs. Million
1-Mar-13
BV per Share
Enterprise value
214.1
150.54
583.95
723.72
378.51
72.26
514.03
132.91
141.72
141.72
1010.4
103.28
260.77
124.64
863.04
Times
1-Mar-13
1-Mar-13
Enterprise Value / PBDITA
19521.4
48410.36
838745.01
-114571.2
156434.58
48709.46
59409.15
55885.62
116897.72
116897.72
30029.04
50458.66
135514.58
6612.78
44929.1
0.13
0.46
3.85
-0.39
0.55
0.76
0.2
0.32
0.7
0.7
0.68
0.37
0.69
0.09
0.69
Times
1-Mar-13
Enterprise Value / PBIT
1.382342549
4.4317262
33.45745782
-3.990273267
6.041655032
6.147692665
1.988854422
3.203928947
7.228285966
18.47825956
2.065941626
3.936866464
6.563689026
0.911462648
6.070253137
Rs. Million
Rs. Million
Rs. Million
Rs. Crores
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs.
Rs.
Nos.
Rs. Million
Rs.
Times
Times
Times
Rs.
Times
Rs. Million
Rs. Million
Rs. Million
Rs. Crores
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs.
Rs.
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
Company Name
Sales
Other income
PBDITA
PBIT
PBT
Net Income
Total assets
Total liabilities
Total capital
Closing Price
Shares Outstanding
EPS
P/E
P/B
P/S
BV per Share
P/BV
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
1-Mar-13
1-Mar-13
Company Name
Sales
Other income
PBDITA
PBIT
PBT
Net Income
Total assets
Total liabilities
Total capital
Closing Price
Nos.
Rs. Million
Rs.
Times
Times
Times
Rs.
Times
Rs. Million
Rs. Million
Rs. Million
Rs. Crores
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs.
Rs.
Nos.
Rs. Million
Rs.
Times
Times
Times
Rs.
Times
Rs. Million
Rs. Million
Rs. Million
Rs. Crores
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
Shares Outstanding
EPS
P/E
P/B
P/S
BV per Share
P/BV
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
Company Name
Sales
Other income
PBDITA
PBIT
PBT
Net Income
Total assets
Total liabilities
Total capital
Closing Price
Shares Outstanding
EPS
P/E
P/B
P/S
BV per Share
P/BV
Mar-13
Mar-13
Mar-13
Mar-13
Company Name
Sales
Other income
PBDITA
PBIT
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs. Million
Rs.
Rs.
Nos.
Rs. Million
Rs.
Times
Times
Times
Rs.
Times
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
1-Mar-13
PBT
Net Income
Total assets
Total liabilities
Total capital
Closing Price
Shares Outstanding
EPS
P/E
P/B
P/S
BV per Share
P/BV
AXIS BANK
Allahabad Bank
Andhra Bank
194606.2
2915.7
170568.2
Bank Of Baroda
134800.7
4866.2
121402.4
379251.7
9159.5
335352
14121.97
10923.59
28712.62
15526.9
11852.1
-5212.3
2044291.5
2044291.5
41568.9
5000.3
130707.4
137.65
137.65
500026189
68828.6
29.18
4.72
0.64
0.000376943
214.1
0.642923867
17710.7
12891.3
-2792.1
1463268
1463268
28886
5595.8
67895.9
93.75
93.75
559580364
52460.66
22.95
4.09
0.62
0.000365921
150.54
0.622758071
48312.3
44807.2
-9302.8
5471354.5
5471354.5
147033.9
4225.2
853989
708.75
708.75
411123383
291383.7
114.23
6.2
0.98
0.000991808
723.72
0.979315205
ANDHRA BANK
Allahabad Bank
Axis Bank Ltd.

194606.2
2915.7
170568.2
Bank Of Baroda
335635.4
159.2
272906.3
379251.7
9159.5
335352
14121.97
25069
28712.62
15526.9
11852.1
-5212.3
2044291.5
2044291.5
41568.9
5000.3
130707.4
137.65
137.65
75530.7
51794.3
-1135.5
3405861.7
3405861.7
108881.2
4679.5
204349.6
1363.7
1363.7
48312.3
44807.2
-9302.8
5471354.5
5471354.5
147033.9
4225.2
853989
708.75
708.75
500026189
68828.6
29.18
4.72
0.64
0.000376943
214.1
0.642923867
467381027
637367.51
104.87
13
2.34
0.002240931
583.95
2.33530268
411123383
291383.7
114.23
6.2
0.98
0.000991808
723.72
0.979315205
INDUSIND BANK
Allahabad Bank
Andhra Bank
194606.2
2915.7
170568.2
Bank Of Baroda
134800.7
4866.2
121402.4
379251.7
9159.5
335352
14121.97
10923.59
28712.62
15526.9
11852.1
-5212.3
2044291.5
2044291.5
41568.9
5000.3
130707.4
137.65
137.65
500026189
68828.6
29.18
4.72
0.64
0.000376943
214.1
0.642923867
17710.7
12891.3
-2792.1
1463268
1463268
28886
5595.8
67895.9
93.75
93.75
559580364
52460.66
22.95
4.09
0.62
0.000365921
150.54
0.622758071
48312.3
44807.2
-9302.8
5471354.5
5471354.5
147033.9
4225.2
853989
708.75
708.75
411123383
291383.7
114.23
6.2
0.98
0.000991808
723.72
0.979315205
ALLAHABAD BANK
Indusind Bank Ltd.
Andhra Bank
Bank Of Baroda
77360
150.6
66632.5
134800.7
4866.2
121402.4
379251.7
9159.5
335352
6326.23
10923.59
28712.62
15763.6
10611.8
-7235.8
734245.1
734245.1
20999.9
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.000491345
141.72
0.499223822
17710.7
12891.3
-2792.1
1463268
1463268
28886
5595.8
67895.9
93.75
93.75
559580364
52460.66
22.95
4.09
0.62
0.000365921
150.54
0.622758071
48312.3
44807.2
-9302.8
5471354.5
5471354.5
147033.9
4225.2
853989
708.75
708.75
411123383
291383.7
114.23
6.2
0.98
0.000991808
723.72
0.979315205
Bank Of India
Bank Of Maharashtra
Canara Bank
357160.3
13671.6
319491.5
103813.8
2114.1
89724.5
364694.5
11722.5
326903.4
25892.67
7923.21
29871.04
30077.4
27493.5
-7867.5
4526027.3
4526027.3
111649.3
5966.4
548358.6
317.9
317.9
573780370
182404.78
51.34
6.19
0.84
0.000469813
378.51
0.83987213
13431.3
7595.2
-2481.1
1170535.4
1170535.4
33414.5
12494.8
61728.5
52.8
52.8
589592082
31130.46
9.46
5.58
0.73
0.000272814
72.26
0.730694714
36721
28721
-7305.7
4126741.3
4126741.3
109984.8
4430
347147
419.75
419.75
443000000
185949.25
67.17
6.25
0.82
0.000606928
514.03
0.816586581
Bank Of India
Bank Of Maharashtra
Canara Bank
357160.3
13671.6
319491.5
103813.8
2114.1
89724.5
364694.5
11722.5
326903.4
25892.67
7923.21
29871.04
30077.4
27493.5
-7867.5
4526027.3
4526027.3
111649.3
5966.4
548358.6
317.9
317.9
13431.3
7595.2
-2481.1
1170535.4
1170535.4
33414.5
12494.8
61728.5
52.8
52.8
36721
28721
-7305.7
4126741.3
4126741.3
109984.8
4430
347147
419.75
419.75
573780370
182404.78
51.34
6.19
0.84
0.000469813
378.51
0.83987213
Bank Of India
589592082
31130.46
9.46
5.58
0.73
0.000272814
72.26
0.730694714
Bank Of Maharashtra
443000000
185949.25
67.17
6.25
0.82
0.000606928
514.03
0.816586581
Canara Bank
357160.3
13671.6
319491.5
103813.8
2114.1
89724.5
364694.5
11722.5
326903.4
25892.67
7923.21
29871.04
30077.4
27493.5
-7867.5
4526027.3
4526027.3
111649.3
5966.4
548358.6
317.9
317.9
573780370
182404.78
51.34
6.19
0.84
0.000469813
378.51
0.83987213
13431.3
7595.2
-2481.1
1170535.4
1170535.4
33414.5
12494.8
61728.5
52.8
52.8
589592082
31130.46
9.46
5.58
0.73
0.000272814
72.26
0.730694714
36721
28721
-7305.7
4126741.3
4126741.3
109984.8
4430
347147
419.75
419.75
443000000
185949.25
67.17
6.25
0.82
0.000606928
514.03
0.816586581
Bank Of India
Bank Of Maharashtra
Canara Bank
357160.3
13671.6
319491.5
103813.8
2114.1
89724.5
364694.5
11722.5
326903.4
25892.67
7923.21
29871.04
30077.4
27493.5
-7867.5
4526027.3
4526027.3
111649.3
5966.4
548358.6
317.9
317.9
573780370
182404.78
51.34
6.19
0.84
0.000469813
378.51
0.83987213
13431.3
7595.2
-2481.1
1170535.4
1170535.4
33414.5
12494.8
61728.5
52.8
52.8
589592082
31130.46
9.46
5.58
0.73
0.000272814
72.26
0.730694714
36721
28721
-7305.7
4126741.3
4126741.3
109984.8
4430
347147
419.75
419.75
443000000
185949.25
67.17
6.25
0.82
0.000606928
514.03
0.816586581
Indusind Bank Ltd.
232848.7
4057.8
199438.7
221717
5446.6
196377.7
77360
150.6
66632.5
17442.84
16172.26
6326.23
13199.6
10149.6
-5895.2
2683424.8
2683424.8
82141.2
26615.8
140922.1
70.35
70.35
736115416
51785.72
7.76
9.07
0.53
0.000162739
132.91
0.529305545
7474.8
5672.3
-5776.6
2446560.5
2446560.5
57404.6
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.00016922
141.72
0.499223822
15763.6
10611.8
-7235.8
734245.1
734245.1
20999.9
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.000491345
141.72
0.499223822
Indusind Bank Ltd.
232848.7
4057.8
199438.7
221717
5446.6
196377.7
77360
150.6
66632.5
17442.84
16172.26
6326.23
13199.6
10149.6
-5895.2
2683424.8
2683424.8
82141.2
26615.8
140922.1
70.35
70.35
7474.8
5672.3
-5776.6
2446560.5
2446560.5
57404.6
9241
152584.2
70.75
70.75
15763.6
10611.8
-7235.8
734245.1
734245.1
20999.9
9241
152584.2
70.75
70.75
736115416
51785.72
7.76
9.07
0.53
0.000162739
132.91
0.529305545
796998198
56387.62
13.01
5.44
0.5
0.00016922
141.72
0.499223822
796998198
56387.62
13.01
5.44
0.5
0.000491345
141.72
0.499223822
Axis Bank Ltd.
232848.7
4057.8
199438.7
221717
5446.6
196377.7
17442.84
16172.26
25069
13199.6
10149.6
-5895.2
2683424.8
2683424.8
82141.2
26615.8
140922.1
70.35
70.35
736115416
51785.72
7.76
9.07
0.53
0.000162739
132.91
0.529305545
7474.8
5672.3
-5776.6
2446560.5
2446560.5
57404.6
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.00016922
141.72
0.499223822
75530.7
51794.3
-1135.5
3405861.7
3405861.7
108881.2
4679.5
204349.6
1363.7
1363.7
467381027
637367.51
104.87
13
2.34
0.002240931
583.95
2.33530268
335635.4
159.2
272906.3
Axis Bank Ltd.
232848.7
4057.8
199438.7
221717
5446.6
196377.7
335635.4
159.2
272906.3
17442.84
16172.26
25069
13199.6
10149.6
-5895.2
2683424.8
2683424.8
82141.2
26615.8
140922.1
70.35
70.35
736115416
51785.72
7.76
9.07
0.53
0.000162739
132.91
0.529305545
7474.8
5672.3
-5776.6
2446560.5
2446560.5
57404.6
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.00016922
141.72
0.499223822
75530.7
51794.3
-1135.5
3405861.7
3405861.7
108881.2
4679.5
204349.6
1363.7
1363.7
467381027
637367.51
104.87
13
2.34
0.002240931
583.95
2.33530268
Uco Bank
Union Bank Of India
188762.1
5754.5
168315.5
174244.7
4386.1
159092.2
265259
11525.3
233154.9
14535.28
12816.96
20646.1
15360.8
13279.5
-3088.6
2010942
2010942
43448.1
484.9
54043.3
1282.2
1282.2
48477802
62158.24
208.99
6.14
1.27
0.003590816
1010.4
1.269002375
6467.8
6182
-4029.4
1989400.8
1989400.8
60455.1
25756.3
123441.2
59.05
59.05
664712240
39251.26
12.36
4.78
0.57
0.000177148
103.28
0.571746708
30642.4
21579.3
-5427.1
3126699.8
3126699.8
72470.4
7077.9
162103.9
220.9
220.9
550549035
121616.28
38.9
5.68
0.85
0.000443206
260.77
0.847106646
Uco Bank
Union Bank Of India
188762.1
5754.5
168315.5
174244.7
4386.1
159092.2
265259
11525.3
233154.9
14535.28
12816.96
20646.1
15360.8
13279.5
-3088.6
2010942
2010942
43448.1
484.9
54043.3
1282.2
1282.2
6467.8
6182
-4029.4
1989400.8
1989400.8
60455.1
25756.3
123441.2
59.05
59.05
30642.4
21579.3
-5427.1
3126699.8
3126699.8
72470.4
7077.9
162103.9
220.9
220.9
48477802
62158.24
208.99
6.14
1.27
0.003590816
1010.4
1.269002375
664712240
39251.26
12.36
4.78
0.57
0.000177148
103.28
0.571746708
Uco Bank
550549035
121616.28
38.9
5.68
0.85
0.000443206
260.77
0.847106646
Union Bank Of India
188762.1
5754.5
168315.5
174244.7
4386.1
159092.2
265259
11525.3
233154.9
14535.28
12816.96
20646.1
15360.8
13279.5
-3088.6
2010942
2010942
43448.1
484.9
54043.3
1282.2
1282.2
48477802
62158.24
208.99
6.14
1.27
0.003590816
1010.4
1.269002375
6467.8
6182
-4029.4
1989400.8
1989400.8
60455.1
25756.3
123441.2
59.05
59.05
664712240
39251.26
12.36
4.78
0.57
0.000177148
103.28
0.571746708
30642.4
21579.3
-5427.1
3126699.8
3126699.8
72470.4
7077.9
162103.9
220.9
220.9
550549035
121616.28
38.9
5.68
0.85
0.000443206
260.77
0.847106646
Uco Bank
Union Bank Of India
188762.1
5754.5
168315.5
174244.7
4386.1
159092.2
265259
11525.3
233154.9
14535.28
12816.96
20646.1
15360.8
13279.5
-3088.6
2010942
2010942
43448.1
484.9
54043.3
1282.2
1282.2
48477802
62158.24
208.99
6.14
1.27
0.003590816
1010.4
1.269002375
6467.8
6182
-4029.4
1989400.8
1989400.8
60455.1
25756.3
123441.2
59.05
59.05
664712240
39251.26
12.36
4.78
0.57
0.000177148
103.28
0.571746708
30642.4
21579.3
-5427.1
3126699.8
3126699.8
72470.4
7077.9
162103.9
220.9
220.9
550549035
121616.28
38.9
5.68
0.85
0.000443206
260.77
0.847106646
Industrial Average
100216.6
2954.8
85159.9
92317.1
610.1
80591.5
7255.13
7401.52
3815.2
3919
-1702.7
1146151.2
1146151.2
31371.5
11747.1
89885.6
61.45
61.45
360998920
22183.38
14.13
4.35
0.49
0.000331488
124.64
0.493019897
8957.1
6150.4
-1900.8
1016696.7
1016696.7
38434.7
500
47677
540.45
540.45
50000000
27022.5
120.42
4.49
0.63
0.00312564
863.04
0.62621663
5.601428571
0.712142857
0.000826845
0.711928287
Industrial Average
100216.6
2954.8
85159.9
92317.1
610.1
80591.5
7255.13
7401.52
3815.2
3919
-1702.7
1146151.2
1146151.2
31371.5
11747.1
89885.6
61.45
61.45
8957.1
6150.4
-1900.8
1016696.7
1016696.7
38434.7
500
47677
540.45
540.45
360998920
22183.38
14.13
4.35
0.49
0.000331488
124.64
0.493019897
50000000
27022.5
120.42
4.49
0.63
0.00312564
863.04
0.62621663
0.834252901
Industrial Average
100216.6
2954.8
85159.9
92317.1
610.1
80591.5
7255.13
7401.52
3815.2
3919
-1702.7
1146151.2
1146151.2
31371.5
11747.1
89885.6
61.45
61.45
360998920
22183.38
14.13
4.35
0.49
0.000331488
124.64
0.493019897
8957.1
6150.4
-1900.8
1016696.7
1016696.7
38434.7
500
47677
540.45
540.45
50000000
27022.5
120.42
4.49
0.63
0.00312564
863.04
0.62621663
0.835
0.000960774
0.843571429
0.000951815
0.843076776
Industrial Average
100216.6
2954.8
85159.9
92317.1
610.1
80591.5
7255.13
7401.52
3815.2
3919
-1702.7
1146151.2
1146151.2
31371.5
11747.1
89885.6
61.45
61.45
360998920
22183.38
14.13
4.35
0.49
0.000331488
124.64
0.493019897
8957.1
6150.4
-1900.8
1016696.7
1016696.7
38434.7
500
47677
540.45
540.45
50000000
27022.5
120.42
4.49
0.63
0.00312564
863.04
0.62621663
0.833571429
0.000959987
0.832812487
Axis Bank Ltd.

335635.4
159.2
272906.3
25069
75530.7
51794.3
-1135.5
3405861.7
3405861.7
108881.2
4679.5
204349.6
1363.7
1363.7
467381027
637367.51
104.87
13
2.34
0.002240931
583.95
2.33530268
Andhra Bank
134800.7
4866.2
121402.4
10923.59
17710.7
12891.3
-2792.1
1463268
1463268
28886
5595.8
67895.9
93.75
93.75
559580364
52460.66
22.95
4.09
0.62
0.000365921
150.54
0.622758071
Indusind Bank Ltd.

77360
150.6
66632.5
6326.23
15763.6
10611.8
-7235.8
734245.1
734245.1
20999.9
9241
152584.2
70.75
70.75
796998198
56387.62
13.01
5.44
0.5
0.000491345
141.72
0.499223822
Allahabad Bank
194606.2
2915.7
170568.2
14121.97
15526.9
11852.1
-5212.3
2044291.5
2044291.5
41568.9
5000.3
130707.4
137.65
137.65
500026189
68828.6
29.18
4.72
0.64
0.000376943
214.1
0.642923867
Sales
EBITDA
EBIT
Cash
Current Liabilities
Long Term debt
Total Liabilities (outsider's )
Share Price per Share
No. of shares
No. of shares (mn)
Market Capitalization
Enterprise Value
EV/Sales
EV/EBITDA
EV/EBIT
Sales
EBITDA
EBIT
Cash
Current Liabilities
Long Term debt
No. of shares
No. of shares (mn)
Enterprise Value
EV/Sales
EV/EBITDA
EV/EBIT
Allahabad Bank
194606.2
170568.2
14121.97
130707.4
41568.9
149728.7738
191297.6738
137.65
500026189
500.026189
68828604916
19521.4
0.100312323
0.13
1.382342549
Allahabad Bank
194606.2
170568.2
14121.97
130707.4
41568.9
149728.7738
191297.6738
137.65
500026189
500.026189
68828604916
19521.4
0.100312323
0.13
1.382342549
Allahabad Bank
Sales
EBITDA
EBIT
Cash
Current Liabilities
Long Term debt
No. of shares
No. of shares (mn)
Enterprise Value
EV/Sales
EV/EBITDA
EV/EBIT
Sales
EBITDA
EBIT
Cash
Current Liabilities
Long Term debt
No. of shares
No. of shares (mn)
Enterprise Value
EV/Sales
EV/EBITDA
EV/EBIT
194606.2
170568.2
14121.97
130707.4
41568.9
149728.7738
191297.6738
137.65
500026189
500.026189
68828604916
19521.4
0.100312323
0.13
1.382342549
Allahabad Bank
194606.2
170568.2
14121.97
130707.4
41568.9
149728.7738
191297.6738
137.65
500026189
500.026189
68828604916
19521.4
0.100312323
0.13
1.382342549
AXIS BANK
Andhra Bank
Bank Of Baroda
Bank Of India
Bank Of Maharashtra
357160.3
103813.8
335352
319491.5
134800.7
121402.4
379251.7
272906.3
10923.59
28712.62
25892.67
7923.21
67895.9
28886
115746.6796
144632.6796
93.75
559580364
559.580364
52460659125
48410.36
0.359125435
0.46
4.4317262
204349.6
108881.2
89367.27662
198248.4766
708.75
411123383
411.123383
2.91384E+11
-114571.2
-0.302098053
-0.39
-3.990273267
853989
147033.9
1009849.8
1156883.7
317.9
573780370
573.78037
1.82405E+11
156434.58
0.437995432
0.55
6.041655032
548358.6
111649.3
596478.4679
708127.7679
52.8
589592082
589.592082
31130461930
48709.46
0.469200241
0.76
6.147692665
ANDHRA BANK
Andhra Bank
134800.7
121402.4
Bank Of Baroda
379251.7
272906.3
Bank Of India
357160.3
335352
Bank Of Maharashtra
103813.8
319491.5
10923.59
28712.62
25892.67
7923.21
67895.9
28886
115746.6796
144632.6796
93.75
559580364
559.580364
52460659125
48410.36
0.359125435
0.46
4.4317262
204349.6
108881.2
89367.27662
198248.4766
708.75
411123383
411.123383
2.91384E+11
-114571.2
-0.302098053
-0.39
-3.990273267
853989
147033.9
1009849.8
1156883.7
317.9
573780370
573.78037
1.82405E+11
156434.58
0.437995432
0.55
6.041655032
548358.6
111649.3
596478.4679
708127.7679
52.8
589592082
589.592082
31130461930
48709.46
0.469200241
0.76
6.147692665
INDUSIND BANK
Andhra Bank
Bank Of Baroda
Bank Of India
Bank Of Maharashtra
134800.7
121402.4
379251.7
272906.3
357160.3
335352
103813.8
319491.5
10923.59
28712.62
25892.67
7923.21
67895.9
28886
115746.6796
144632.6796
93.75
559580364
559.580364
52460659125
48410.36
0.359125435
0.46
4.4317262
204349.6
108881.2
89367.27662
198248.4766
708.75
411123383
411.123383
2.91384E+11
-114571.2
-0.302098053
-0.39
-3.990273267
853989
147033.9
1009849.8
1156883.7
317.9
573780370
573.78037
1.82405E+11
156434.58
0.437995432
0.55
6.041655032
548358.6
111649.3
596478.4679
708127.7679
52.8
589592082
589.592082
31130461930
48709.46
0.469200241
0.76
6.147692665
ALLAHABAD BANK
Andhra Bank
Bank Of Baroda
Bank Of India
Bank Of Maharashtra
357160.3
103813.8
335352
319491.5
134800.7
121402.4
379251.7
272906.3
10923.59
28712.62
25892.67
7923.21
67895.9
28886
115746.6796
144632.6796
93.75
559580364
559.580364
52460659125
48410.36
0.359125435
0.46
4.4317262
204349.6
108881.2
89367.27662
198248.4766
708.75
411123383
411.123383
2.91384E+11
-114571.2
-0.302098053
-0.39
-3.990273267
853989
147033.9
1009849.8
1156883.7
317.9
573780370
573.78037
1.82405E+11
156434.58
0.437995432
0.55
6.041655032
548358.6
111649.3
596478.4679
708127.7679
52.8
589592082
589.592082
31130461930
48709.46
0.469200241
0.76
6.147692665
Canara Bank

364694.5
89724.5
Indian Overseas Bank Indusind Bank Ltd.

232848.7
221717
77360
326903.4
199438.7
196377.7
29871.04
17442.84
16172.26
6326.23
61728.5
33414.5
120694.65
154109.15
419.75
443000000
443
1.85949E+11
59409.15
0.162901141
0.2
1.988854422
347147
109984.8
402296.5046
512281.3046
70.35
736115416
736.115416
51785719516
55885.62
0.240008297
0.32
3.203928947
140922.1
82141.2
257022.8218
339164.0218
70.75
796998198
796.998198
56387622509
116897.72
0.527238417
0.7
7.228285966
152584.2
57404.6
268684.9218
326089.5218
70.75
796998198
796.998198
56387622509
116897.72
1.511087384
0.7
18.47825956
Canara Bank

221717
77360
199438.7
196377.7
364694.5
89724.5
232848.7
326903.4
29871.04
17442.84
16172.26
6326.23
61728.5
33414.5
120694.65
154109.15
419.75
443000000
443
1.85949E+11
59409.15
0.162901141
0.2
1.988854422
347147
109984.8
402296.5046
512281.3046
70.35
736115416
736.115416
51785719516
55885.62
0.240008297
0.32
3.203928947
140922.1
82141.2
257022.8218
339164.0218
70.75
796998198
796.998198
56387622509
116897.72
0.527238417
0.7
7.228285966
152584.2
57404.6
268684.9218
326089.5218
70.75
796998198
796.998198
56387622509
116897.72
1.511087384
0.7
18.47825956
Canara Bank
Indusind Bank Ltd.
364694.5
89724.5
232848.7
326903.4
221717
199438.7
77360
196377.7
29871.04
17442.84
16172.26
6326.23
61728.5
33414.5
120694.65
154109.15
419.75
443000000
443
1.85949E+11
59409.15
0.162901141
0.2
1.988854422
347147
109984.8
402296.5046
512281.3046
70.35
736115416
736.115416
51785719516
55885.62
0.240008297
0.32
3.203928947
140922.1
82141.2
257022.8218
339164.0218
70.75
796998198
796.998198
56387622509
116897.72
0.527238417
0.7
7.228285966
152584.2
57404.6
268684.9218
326089.5218
70.75
796998198
796.998198
56387622509
116897.72
1.511087384
0.7
18.47825956
Canara Bank

364694.5
89724.5

232848.7
221717
77360
326903.4
199438.7
196377.7
29871.04
17442.84
16172.26
6326.23
61728.5
33414.5
120694.65
154109.15
419.75
443000000
443
1.85949E+11
59409.15
0.162901141
0.2
1.988854422
347147
109984.8
402296.5046
512281.3046
70.35
736115416
736.115416
51785719516
55885.62
0.240008297
0.32
3.203928947
140922.1
82141.2
257022.8218
339164.0218
70.75
796998198
796.998198
56387622509
116897.72
0.527238417
0.7
7.228285966
152584.2
57404.6
268684.9218
326089.5218
70.75
796998198
796.998198
56387622509
116897.72
1.511087384
0.7
18.47825956
Uco Bank
Union Bank Of India
188762.1
66632.5
174244.7
168315.5
265259
159092.2
14535.28
12816.96
20646.1
152584.2
20999.9
182564.7622
203564.6622
1282.2
48477802
48.477802
62158237724
30029.04
0.159084053
0.68
2.065941626
54043.3
43448.1
103837.2478
147285.3478
59.05
664712240
664.71224
39251257772
50458.66
0.289585049
0.37
3.936866464
123441.2
60455.1
258405.231
318860.331
220.9
550549035
550.549035
1.21616E+11
135514.58
0.510876464
0.69
6.563689026
Uco Bank
Union Bank Of India
188762.1
66632.5
174244.7
168315.5
265259
159092.2
14535.28
12816.96
20646.1
152584.2
20999.9
182564.7622
203564.6622
1282.2
48477802
48.477802
62158237724
30029.04
0.159084053
0.68
2.065941626
54043.3
43448.1
103837.2478
147285.3478
59.05
664712240
664.71224
39251257772
50458.66
0.289585049
0.37
3.936866464
123441.2
60455.1
258405.231
318860.331
220.9
550549035
550.549035
1.21616E+11
135514.58
0.510876464
0.69
6.563689026
Uco Bank
Union Bank Of India
188762.1
66632.5
174244.7
168315.5
265259
159092.2
14535.28
12816.96
20646.1
152584.2
20999.9
182564.7622
203564.6622
1282.2
48477802
48.477802
62158237724
30029.04
0.159084053
0.68
2.065941626
54043.3
43448.1
103837.2478
147285.3478
59.05
664712240
664.71224
39251257772
50458.66
0.289585049
0.37
3.936866464
123441.2
60455.1
258405.231
318860.331
220.9
550549035
550.549035
1.21616E+11
135514.58
0.510876464
0.69
6.563689026
Uco Bank
Union Bank Of India
188762.1
66632.5
174244.7
168315.5
265259
159092.2
14535.28
12816.96
20646.1
152584.2
20999.9
182564.7622
203564.6622
1282.2
48477802
48.477802
62158237724
30029.04
0.159084053
0.68
2.065941626
54043.3
43448.1
103837.2478
147285.3478
59.05
664712240
664.71224
39251257772
50458.66
0.289585049
0.37
3.936866464
123441.2
60455.1
258405.231
318860.331
220.9
550549035
550.549035
1.21616E+11
135514.58
0.510876464
0.69
6.563689026

Industrial Average
100216.6
92317.1
233154.9
85159.9
Axis Bank Ltd.

335635.4
80591.5
7255.13
7401.52
25069
162103.9
72470.4
168355.6811
240826.0811
61.45
360998920
360.99892
22183383634
6612.78
0.065984877
0.09
0.911462648
89885.6
31371.5
134764.7
166136.2
540.45
50000000
50
27022500000
44929.1
0.486682316
0.69
6.070253137
47677
38434.7
885954.629
924389.329
1363.7
467381027
467.381027
6.37368E+11
838745.01
2.498976598
3.85
33.45745782
0.358427384
0.425
4.604334641

Industrial Average
100216.6
92317.1
233154.9
85159.9
Axis Bank Ltd.

335635.4
80591.5
7255.13
7401.52
25069
162103.9
72470.4
168355.6811
240826.0811
61.45
360998920
360.99892
22183383634
6612.78
0.065984877
0.09
0.911462648
89885.6
31371.5
134764.7
166136.2
540.45
50000000
50
27022500000
44929.1
0.486682316
0.69
6.070253137
47677
38434.7
885954.629
924389.329
1363.7
467381027
467.381027
6.37368E+11
838745.01
2.498976598
3.85
33.45745782
0.358427384
0.425
4.604334641
Industrial Average
Axis Bank Ltd.
100216.6
233154.9
92317.1
85159.9
335635.4
80591.5
7255.13
7401.52
25069
162103.9
72470.4
168355.6811
240826.0811
61.45
360998920
360.99892
22183383634
6612.78
0.065984877
0.09
0.911462648
89885.6
31371.5
134764.7
166136.2
540.45
50000000
50
27022500000
44929.1
0.486682316
0.69
6.070253137
47677
38434.7
885954.629
924389.329
1363.7
467381027
467.381027
6.37368E+11
838745.01
2.498976598
3.85
33.45745782
0.358427384
0.425
4.604334641

Industrial Average
100216.6
92317.1
233154.9
85159.9
Axis Bank Ltd.

335635.4
80591.5
7255.13
7401.52
25069
162103.9
72470.4
168355.6811
240826.0811
61.45
360998920
360.99892
22183383634
6612.78
0.065984877
0.09
0.911462648
89885.6
31371.5
134764.7
166136.2
540.45
50000000
50
27022500000
44929.1
0.486682316
0.69
6.070253137
47677
38434.7
885954.629
924389.329
1363.7
467381027
467.381027
6.37368E+11
838745.01
2.498976598
3.85
33.45745782
0.358427384
0.425
4.604334641
Company Name
P/E
P/B
P/S
Allahabad Bank
Company Name
EV/sales
EV/EBIDT
EV/EBIT
Allahabad Bank
Company Name
P/E
P/B
P/S
Allahabad Bank
Company Name
EV/sales
EV/EBIDT
EV/EBIT
Allahabad Bank
4.72
0.64
0.000376943
0.100312323
4.72
0.64
4.72
0.64
0.000376943
0.100312323
4.72
0.64
Company Name
P/E
P/B
P/S
Allahabad Bank
Company Name
EV/sales
EV/EBIDT
EV/EBIT
Allahabad Bank
Company Name
P/E
P/B
P/S
Axis Bank
Company Name
EV/sales
EV/EBIDT
EV/EBIT
Axis Bank
4.72
0.64
0.000376943
0.100312323
4.72
0.64
13
2.34
0.002240931
13
2.34
0.002240931
AXIS BANK
Andhra Bank
Bank Of Baroda
4.09
0.62
0.000365921
Andhra Bank
Bank Of India
6.2
0.98
0.000991808
Bank Of Baroda
0.359125435
4.09
0.62
6.19
0.84
0.000469813
Bank Of India
-0.302098053
6.2
0.98
0.437995432
6.19
0.84
ANDHRA BANK
Axis Bank
Bank Of Baroda
13
2.34
0.002240931
Axis Bank
Bank Of India
6.2
0.98
0.000991808
Bank Of Baroda
13
2.34
0.002240931
Bank Of India
-0.302098053
6.2
0.98
INSUDIND BANK
6.19
0.84
0.000469813
0.437995432
6.19
0.84
Andhra Bank
Bank Of Baroda
4.09
0.62
0.000365921
Andhra Bank
Bank Of India
6.2
0.98
0.000991808
Bank Of Baroda
0.359125435
4.09
0.62
6.19
0.84
0.000469813
Bank Of India
-0.302098053
6.2
0.98
0.437995432
6.19
0.84
ALLAHABAD BANK
Andhra Bank
Bank Of Baroda
4.09
0.62
0.000365921
Andhra Bank
Bank Of India
6.2
0.98
0.000991808
Bank Of Baroda
0.359125435
4.09
0.62
6.19
0.84
0.000469813
Bank Of India
-0.302098053
6.2
0.98
0.437995432
6.19
0.84
Bank Of Maharashtra
Canara Bank
5.58
0.73
0.000272814
6.25
0.82
0.000606928
Bank Of Maharashtra
Canara Bank
0.469200241
5.58
0.73
Bank Of Maharashtra

0.162901141
0.240008297
6.25
9.07
0.82
0.53
Canara Bank
5.58
0.73
0.000272814
Bank Of Maharashtra
Canara Bank
0.469200241
5.58
0.73
9.07
0.53
0.000162739

6.25
0.82
0.000606928
9.07
0.53
0.000162739

0.162901141
0.240008297
6.25
9.07
0.82
0.53
Bank Of Maharashtra
Canara Bank
5.58
0.73
0.000272814
Bank Of Maharashtra
Canara Bank
0.469200241
5.58
0.73
Bank Of Maharashtra

6.25
0.82
0.000606928

0.162901141
0.240008297
6.25
9.07
0.82
0.53
Canara Bank
5.58
0.73
0.000272814
Bank Of Maharashtra
Canara Bank
0.469200241
5.58
0.73
9.07
0.53
0.000162739

6.25
0.82
0.000606928
9.07
0.53
0.000162739

0.162901141
0.240008297
6.25
9.07
0.82
0.53
Indusind Bank Ltd.

5.44
6.14
0.5
1.27
0.000491345
0.003590816

Indusind Bank Ltd.
0.527238417
5.44
0.5

1.511087384
0.159084053
5.44
6.14
0.5
1.27
Indusind Bank Ltd.

5.44
6.14
0.5
1.27
0.000491345
0.003590816

Indusind Bank Ltd.
0.527238417
5.44
0.5

1.511087384
0.159084053
5.44
6.14
0.5
1.27
5.44
0.5
0.00016922
5.44
0.5
0.00016922
Axis Bank
5.44
0.5
0.00016922
13
2.34
0.002240931

6.14
1.27
0.003590816

Axis Bank
0.527238417
5.44
0.5

13
0.159084053
2.34
6.14
0.002240931
1.27
Indusind Bank Ltd.

5.44
6.14
0.5
1.27
0.000491345
0.003590816

Indusind Bank Ltd.
0.527238417
5.44
0.5

1.511087384
0.159084053
5.44
6.14
0.5
1.27
5.44
0.5
0.00016922
Uco Bank
Union Bank Of India

4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
0.000177148
0.000443206
0.000331488
0.00312564
Uco Bank
Union Bank Of India

0.289585049
0.510876464
0.065984877
0.486682316
4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
Uco Bank
Union Bank Of India

4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
0.000177148
0.000443206
0.000331488
0.00312564
Uco Bank
Union Bank Of India

0.289585049
0.510876464
0.065984877
0.486682316
4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
Uco Bank
4.78
0.57
0.000177148
Union Bank Of India

5.68
4.35
4.49
0.85
0.49
0.63
0.000443206
0.000331488
0.00312564
Uco Bank
Union Bank Of India

0.289585049
0.510876464
0.065984877
0.486682316
4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
Uco Bank
Union Bank Of India

4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
0.000177148
0.000443206
0.000331488
0.00312564
Uco Bank
Union Bank Of India

0.289585049
0.510876464
0.065984877
0.486682316
4.78
5.68
4.35
4.49
0.57
0.85
0.49
0.63
Industrial Average
Min
5.601428571
0.712142857
0.000826845
Industrial Average
Min
0.358427384
0.425
4.604334641
Industrial Average
Min
6.237857143
0.835
0.000960774
Industrial Average
Min
0.358427384
0.425
4.604334641
Axis Bank Ltd.

4.35 EPS
0.49 SPS
0.000162739 BVPS
-0.302098053 Sales
4.09 EBITDA
0.49 EBIT
104.87
718.12
583.95
Average Price per share
No. of shares (mn)
Mkt val. Of equity
Axis Bank Ltd.

335635.4
272906.3
25069
Andhra Bank
4.35 EPS
0.49 SPS
0.000162739 BVPS
-0.302098053 Sales
2.34 EBITDA
0.002240931 EBIT
22.95
2410.7
48410.36
No. of shares (mn)
Mkt val. Of equity
Andhra Bank
134800.7
121402.4
10923.59
Industrial Average
Min
6.141428571
0.843571429
0.000951815
Industrial Average
Min
0.358427384
0.425
4.604334641
Industrial Average
Min
6.192857143
0.833571429
0.000959987
Industrial Average
Min
0.358427384
0.425
4.604334641
Indusind Bank
4.35 EPS
0.49 SPS
0.000162739 BVPS
-0.302098053 Sales
2.34 EBITDA
0.002240931 EBIT
104.87
718.12
583.95
No. of shares (mn)
Mkt val. Of equity
Indisind Bank
221717
196377.7
16172.26
Allahabad Bank
4.35 EPS
0.49 SPS
0.000162739 BVPS
-0.302098053 Sales
2.34 EBITDA
0.002240931 EBIT
29.18
389.19
214.1
No. of shares (mn)
Mkt val. Of equity
Allahabad Bank
194606.2
170568.2
14121.97
456.1845
351.8788
0.095031413
269.39
467.38
125905.68
EV
Long Term debt
-101394.8007
885954.629
1116186.767
885954.629
12283.81
885954.629
Cash
47677
47677
47677
Mkt val. Of equity
No. of shares (mn)
Mkt Value of equity

832,236.83
2,049,818.40
945,915.44
1,275,990.22
467.38
2730.091619
99.8325
1181.243
7.878251427
429.65
467.38
200810.40
EV
Long Term debt
-40723.02895
885954.629
284081.616
885954.629
24.47901217
885954.629
Cash
47677
47677
47677
Mkt val. Of equity
No. of shares (mn)
Mkt Value of equity

892,908.60
1,217,713.24
933,656.11
1,014,759.32
467.38
2171.165471
456.1845
351.8788
0.095031413
269.39
467.38
125905.68
EV
Long Term debt
-66980.27392
885954.629
459523.818
885954.629
36.24091983
885954.629
Cash
47677
47677
47677
Mkt val. Of equity
No. of shares (mn)
Mkt Value of equity

866,651.36
1,393,155.45
933,667.87
1,064,491.56
467.38
2277.571906
126.933
190.7031
0.03484241
105.89
467.38
49491.02
EV
Long Term debt
-58790.15404
885954.629
399129.588
885954.629
31.64636127
885954.629
Cash
47677
47677
47677
Mkt val. Of equity
No. of shares (mn)
Mkt Value of equity

874,841.47
1,332,761.22
933,663.28
1,047,088.66
467.38
2240.33689

Relative Valuation of Banking Sector

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Rs.

Cash outflow due to interest paid

Current liabilities & provisions

Axis Bank Ltd.

Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank

Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank

Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank

Axis Bank Ltd.

Central Bank Of India

Indian Overseas Bank

Axis Bank Ltd.

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

United Bank Of India

State Bank of Travancore

United Bank Of India

State Bank of Travancore

United Bank Of India

State Bank of Travancore

United Bank Of India

State Bank of Travancore

Axis Bank Ltd.

Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank

Indusind Bank Ltd.

Central Bank Of India

Indian Overseas Bank Indusind Bank Ltd.

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

Oriental Bank Of Commerce

Union Bank Of India

United Bank Of India

Axis Bank Ltd.

United Bank Of India

Axis Bank Ltd.

United Bank Of India

State Bank of Travancore

Axis Bank Ltd.

United Bank Of India

Axis Bank Ltd.

Central Bank Of India

Central Bank Of India