Company Valuation: Bandhan Bank Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 5,45,832 4,95,149 3,15,321 2,89,975 2,35,653 2,70,756 - -
Change - -9.29% -36.32% -8.04% -18.73% 14.9% - -
Enterprise Value (EV) 5,45,832 4,95,149 3,15,321 2,89,975 2,35,653 2,70,756 2,70,756 2,70,756
Change - -9.29% -36.32% -8.04% -18.73% 14.9% 0% 0%
P/E ratio 24.8x 394x 14.4x 13x 8.58x 23.1x 10.6x 7.89x
PBR 3.14x 2.85x 1.61x 1.42x 0.96x 1.06x 0.97x 0.87x
PEG - -4.2x 0x 8.05x 0.4x -0.4x 0x 0.2x
Capitalization / Revenue 7.02x 4.29x 2.69x 2.32x 1.63x 1.99x 1.75x 1.52x
EV / Revenue 0x 0x 0x 0x 0x 1.99x 1.75x 1.52x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 4.54x 3.91x 3.41x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1 - 1.5 1.5 1.5 1.248 1.85 2.29
Rate of return 0.3% - 0.77% 0.83% 1.03% 0.74% 1.1% 1.36%
EPS 2 13.69 0.78 13.62 13.84 17.04 7.285 15.92 21.31
Distribution rate 7.3% - 11% 10.8% 8.8% 17.1% 11.6% 10.7%
Net sales 1 77,743 1,15,368 1,17,282 1,24,903 1,44,572 1,36,177 1,55,109 1,77,961
EBITDA - - - - - - - -
EBIT 1 68,553 80,134 70,913 66,395 73,887 59,661 69,263 79,381
Net income 1 22,055 1,258 21,946 22,296 27,453 11,457 25,981 34,842
Net Debt - - - - - - - -
Reference price 2 338.90 307.40 195.75 180.00 146.28 168.07 168.07 168.07
Nbr of stocks (in thousands) 16,10,599 16,10,766 16,10,836 16,10,970 16,10,971 16,10,972 - -
Announcement Date 08/05/21 13/05/22 19/05/23 17/05/24 30/04/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.78x - - 0.75% 289.3Cr
18.39x - - 0.95% 9.93TCr
15.47x - - 4.39% 8.25TCr
6.67x - - 4.73% 6.42TCr
7.31x - - 7.03% 6.09TCr
5.09x - - 5.81% 5.76TCr
13.16x - - 5.23% 4.66TCr
10.3x - - 4.47% 4.45TCr
16.27x - - 3.24% 4.55TCr
10.52x - - 4.79% 3.52TCr
Average 12.60x 4.14% 5.39TCr
Weighted average by Cap. 12.09x 4.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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