Indbank Merchant Banking Services share price
NSE: INDBANKBSE: 511473Capital MarketsSmall Cap
Last close ₹23.12down ₹0.79 (3.30%)BSE ₹23.50
Share price at the NSE close on 23 Oct 2026. Previous close ₹23.91.
52-week range of traded prices to 23 Oct 2026
₹22.65Low, 23 Oct 2026₹42.48High, 31 Oct 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹103 Cr2,606th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 9 Oct 2026
- 14.4
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 9 Oct 2026
- 1.0
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 9 Oct 2026
- 7.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 9 Oct 2026
- 9.2%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. The filing of 9 Oct 2026
- 0.02
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 27,03559.6% delivered
Results
Standalone; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Sep 2026, against the quarter beforeFiled 9 Oct
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹6.36 Crdown 7.91%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1.61 Crdown 32.01%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 25.4%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2023, the company's revenue for that year, ₹18 Cr, differs from its quarters added, ₹16 Cr. From the year to Mar 2024, the company reports a discontinued business.
| ₹ crore | Dec 2024Filed 25 Jan | Mar 2025Filed 24 Apr | Jun 2025Filed 18 Jul | Sep 2025Filed 15 Oct | Dec 2025Filed 14 Jan | Mar 2026Filed 20 Apr | Jun 2026Filed 8 Jul | Sep 2026Filed 9 Oct |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.63 | 5.31 | 6.69 | 6.28 | 6.25 | 5.89 | 6.90 | 6.36 |
| Net profit | 1.17 | 1.14 | 2.14 | 1.86 | 1.92 | 1.21 | 2.38 | 1.61 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 20.8% | 21.4% | 32.0% | 29.6% | 30.7% | 20.6% | 34.4% | 25.4% |
Standalone. The last eight quarters. The latest is shaded.
Business segments
In the year to Mar 2026 the company reports one business segment, Stock Broking, which carries all its revenue.
Valuation
Today, against the company's own history. Dividend yield is not shown: no dividend in the years on record. Its history crosses a change of basis in the accounts in the years to Mar 2023 and Mar 2024: days before it are of the company before the change.PE ratio and valuation history
Price to earningsPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
At or below today's level on 12% of 2,230 trading days over the last 10 years.
LowestHighest
Its median19.2Industry median18.6
Price to bookPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
At or below today's level on 31% of 1,981 trading days since Oct 2018.
LowestHighest
Its median1.5Industry median1.5
EV to EBITDAEnterprise value to EBITDA. Market cap plus borrowings less cash and bank balances, divided by operating profit before depreciation (revenue less operating expenses, without other income and one-off items) over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly): what the whole business costs against the profit its operations make. Lease liabilities are not counted: the results filings do not state them.1.2
At or below today's level on 0.1% of 1,058 trading days over the last 5 years.
LowestHighest
Its median10.2Industry median7.5
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +3.9% | −15.7% | +23.2% | 0.0% |
| 3 years | +11.5% | +26.8% | −12.1% | 0.0% |
| 5 years | +18.3% | +12.1% | +5.6% | 0.0% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Peers and competitors
Stockbroking & Allied, 43 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to Indbank Merchant Banking Services in market cap. 1 company in the table last traded before then: its row is priced on its last trade.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 Onelife Capital AdvisorsONELIFECAP | 187 | 19.7 | 2.6 | – | +214.2% | – | 17.6% | −6.7% | 0.02% |
 Keynote Financial ServicesKEYFINSERV | 118 | 20.8 | 0.8 | 9.4 | −4.6% | −70.4% | 4.0% | 7.2% | 0.47% |
 Steel City SecuritiesSTEELCITY | 117 | 6.9 | 0.8 | 3.2 | +4.7% | +0.1% | 12.7% | 13.2% | 5.18% |
 LKP SecuritiesLKPSEC | 113 | 15.5 | 1.1 | 1.6 | −3.2% | −45.7% | 7.5% | 11.0% | 1.46% |
 DB (International) Stock BrokersDBSTOCKBRO | 99 | 40.7 | 1.3 | −3.3 | +2.4% | – | 3.2% | 5.9% | 0.00% |
 Munoth Capital MarketMUNCAPM | 95 | – | 16.7 | – | +97.5% | – | −1.7% | −5.1% | 0.00% |
 Asit C Mehta Financial ServicesASITCFIN | 87 | 16.7 | 3.8 | 23.2 | −13.7% | – | 21.3% | 3.2% | 0.00% |
 Inventure Growth & SecuritiesINVENTURE | 80 | 25.3 | 0.3 | −1.5 | −13.0% | – | 1.1% | 1.4% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
| Ex-date | Type | Per share |
|---|---|---|
| 7 Aug 2009 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹0.75 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
Sep 2026
Aug 2026
31 Aug · Corporate action
Indbank Merchant Banking Services share price by year
Each calendar year to 2025.Indbank Merchant Banking Services share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 34.81 | −24.8% | 46.82 | 28.05 |
| 2024 | 46.27 | +21.8% | 59.10 | 38.00 |
| 2023 | 38.00 | +17.8% | 43.30 | 20.85 |
| 2022 | 32.25 | +46.9% | 40.30 | 18.10 |
| 2021 | 21.95 | +98.6% | 36.25 | 10.40 |
| 2020 | 11.05 | +56.7% | 15.25 | 4.80 |
| 2019 | 7.05 | −23.4% | 10.70 | 6.55 |
| 2018 | 9.20 | −58.9% | 35.95 | 8.50 |
| 2017 | 22.40 | +77.1% | 25.55 | 12.35 |
| 2016 | 12.65 | +44.6% | 14.85 | 6.45 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 23.91 | 24.37 | 22.65 | 23.12 | 23.27 | 27,035 | 59.6% |
| 22 Oct 2026 | 23.63 | 24.50 | 23.63 | 23.91 | 23.98 | 17,993 | 64.3% |
| 21 Oct 2026 | 25.45 | 25.45 | 24.02 | 24.21 | 24.57 | 30,616 | 66.1% |
| 19 Oct 2026 | 25.16 | 25.90 | 24.96 | 25.23 | 25.31 | 19,774 | 58.5% |
| 16 Oct 2026 | 25.58 | 25.60 | 25.05 | 25.10 | 25.14 | 34,882 | 75.3% |
| 15 Oct 2026 | 25.60 | 25.60 | 25.15 | 25.38 | 25.34 | 13,966 | 79.9% |
| 14 Oct 2026 | 25.70 | 25.78 | 25.05 | 25.31 | 25.39 | 20,694 | 58.3% |
| 13 Oct 2026 | 25.30 | 25.72 | 25.01 | 25.27 | 25.22 | 11,961 | 75.2% |
| 12 Oct 2026 | 25.98 | 26.50 | 24.91 | 25.52 | 25.32 | 46,005 | 75.7% |
| 9 Oct 2026 | 25.79 | 26.00 | 25.04 | 25.58 | 25.60 | 30,212 | 57.5% |
Prices in ₹ per share as traded, not adjusted.
Company details
- Legal name
- Indbank Merchant Banking Services Limited
- NSE symbol
- INDBANK
- BSE code
- 511473
- ISIN
- INE841B01017
- Industry
- Capital Markets
- Listed
- Jun 1994 on BSE, Oct 2008 on NSE
- Face value
- ₹10
- Former symbols
- INDBANKMER
- CIN
- L65191TN1989PLC017883
- Corporate identity number, the registrar of companies' code for it