Tamilnad Mercantile Bank Ltd

T N Merc. Bank Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Tamilnad Mercantile Bank Ltd

₹ 444 -0.29%
22 Nov - close price
tmb.in BSE: 543596 NSE: TMB
About

Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs).[1]

Key Points

Leading Private sector Bank
Tamilnad Mercantile Bank Limited (“TMB”) is a 100 yr old leading private sector bank in India. [1] [2] As of FY24, the bank has a branch network of 688 branches (including 134 correspondent) of which 48% are located in semi-urban areas, 16% in urban, 21% in rural, and 15% in metropolitan centers. Bank has an ATM network of 1157.[3]

Website BSE NSE
  • Market Cap ₹ 7,025 Cr.
  • Current Price ₹ 444
  • High / Low ₹ 545 / 418
  • Stock P/E 6.23
  • Book Value ₹ 500
  • Dividend Yield 2.25 %
  • ROCE 7.18 %
  • ROE 14.4 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.89 times its book value
  • Company has delivered good profit growth of 32.9% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 8.50% over past five years.
  • Contingent liabilities of Rs.6,528 Cr.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Banks Industry: Banks - Private Sector

Part of BSE 250 SmallCap Index BSE 400 MidSmallCap Index BSE Allcap BSE Financial Services BSE 500

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Revenue 950 959 986 1,002 997 1,012 1,070 1,156 1,209 1,229 1,254 1,281 1,337
Interest 511 507 499 478 488 478 543 642 676 692 687 715 741
308 418 422 344 298 323 364 340 347 327 388 417 423
Financing Profit 131 34 66 180 211 211 163 174 186 210 179 150 173
Financing Margin % 14% 4% 7% 18% 21% 21% 15% 15% 15% 17% 14% 12% 13%
151 254 214 140 145 161 184 167 156 158 164 234 227
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 282 288 280 319 355 372 347 341 342 368 343 383 400
Tax % 32% 30% 19% 27% 26% 25% 27% 23% 20% 23% 26% 25% 24%
191 203 227 234 262 280 253 261 274 284 253 287 303
EPS in Rs 13.38 14.24 15.93 16.43 16.56 17.66 15.98 16.50 17.27 17.95 15.98 18.14 19.15
Gross NPA % 3.31% 3.08% 1.69% 1.69% 1.70% 1.70% 1.39% 1.56% 1.70% 1.69% 1.44% 1.44% 1.37%
Net NPA % 1.82% 1.44% 0.95% 0.93% 0.86% 0.75% 0.62% 0.66% 0.99% 0.98% 0.85% 0.65% 0.46%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 3,250 3,224 3,466 3,609 3,834 4,081 4,848 5,101
Interest 2,041 1,994 2,147 2,072 2,019 1,987 2,697 2,835
1,366 1,350 1,231 1,355 1,470 1,276 1,327 1,555
Financing Profit -157 -120 89 183 346 818 824 711
Financing Margin % -5% -4% 3% 5% 9% 20% 17% 14%
506 414 526 644 812 629 645 783
Depreciation 40 36 30 29 33 54 75 0
Profit before tax 310 259 585 798 1,125 1,394 1,394 1,495
Tax % 28% 0% 30% 24% 27% 26% 23%
222 259 408 603 822 1,029 1,072 1,128
EPS in Rs 15.57 18.14 28.61 42.34 57.67 65.00 67.70 71.22
Dividend Payout % 21% 13% 13% 0% 9% 8% 15%
Compounded Sales Growth
10 Years: %
5 Years: 9%
3 Years: 10%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 33%
3 Years: 21%
TTM: 6%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -14%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 16%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 143 143 143 143 143 158 158
Reserves 3,262 3,476 3,837 4,437 5,193 6,770 7,763
32,941 35,136 37,149 40,970 44,933 48,291 50,816
1,522 1,719 1,604 1,948 2,559 2,646 2,786
Total Liabilities 37,868 40,473 42,733 47,499 52,828 57,866 61,523
140 138 128 137 211 246 271
CWIP 0 0 0 0 0 0 0
Investments 10,364 9,107 9,467 11,703 13,242 14,156 15,263
27,364 31,228 33,137 35,658 39,374 43,464 45,990
Total Assets 37,868 40,473 42,733 47,499 52,828 57,866 61,523

Cash Flows

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-389 0 0 -670 1,325 -1,270 -611
-26 0 0 -37 -107 -89 -100
472 0 0 -324 -71 1,088 697
Net Cash Flow 58 0 0 -1,031 1,147 -270 -14

Ratios

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 7% 11% 14% 17% 17% 14%

Shareholding Pattern

Numbers in percentages

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
23.16% 0.58% 0.22% 0.07% 2.06% 3.13% 3.45% 3.67% 4.08%
5.61% 5.48% 5.32% 5.09% 3.85% 3.20% 2.75% 2.73% 2.22%
71.24% 93.95% 94.46% 94.86% 94.11% 93.68% 93.79% 93.59% 93.69%
No. of Shareholders 90,02082,84496,0071,06,2971,01,7241,05,0951,13,6431,16,1861,20,897

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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