Table of Contents

IDFC First Bank Ltd

Updated on September 16, 2020

Stock/Share Code - IDFCFIRSTB

IDFC FIRST Bank provides a range of financial solutions to individuals, small businesses and corporates. The Bank offers savings and current accounts, NRI accounts, salary accounts, demat accounts, fi...show more

Below is the details of IDFCFIRSTB IDFC First Bank Ltd

Market Cap	₹18,152 Cr.
Current Price	₹28.7 as on 22 Sep 20
52 Week High / Low Price	₹48 / ₹17.65
Face Value	₹10
Stock P/E
Book Value	₹27.05
Dividend Yield	0.00 %
ROCE	5.30 %
ROE	-17.10 %
Sales Growth (3yrs)	22.97 %
Sector	Banks
Industry	Banks - Private Sector
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Stock is trading at 1.18 times its book value

Cons: Company has low interest coverage ratio. Company has a low return on equity of -8.15% for last 3 years. Contingent liabilities of Rs.281368.59 Cr. Promoter holding has decreased over last 3 years: -12.85%

IDFC First Bank Ltd Price Chart

IDFC First Bank Ltd Peer Comparison in Banks

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	HDFC Bank	₹1,035.4	21.54	₹614,066.43 Cr.	0.67	₹6,927.24 Cr.	22.04	10.88	32351.61	7.31
2.	Kotak Mah. Bank	₹1,270.55	30.32	₹277,327.41 Cr.	0.06	₹1,852.59 Cr.	5.11	1.60	8421.69	7.35
3.	ICICI Bank	₹354.4	26.75	₹272,103.11 Cr.	0.25	₹3,117.68 Cr.	24.03	10.10	22422.71	5.90
4.	Axis Bank	₹412	89.88	₹152,009.25 Cr.	0.20	₹1,099.52 Cr.	-12.83	8.14	16799.19	5.55
5.	Bandhan Bank	₹267.45	17.78	₹49,244.35 Cr.	0.98	₹549.82 Cr.	-31.58	14.70	3018.09	12.00
6.	IndusInd Bank	₹544	12.68	₹43,708.53 Cr.	1.19	₹460.64 Cr.	-67.84	2.88	7161.73	8.50
7.	IDBI Bank	₹35.1		₹40,743.83 Cr.	0.00	₹159.14 Cr.	104.16	-3.80	4903.80	0.33
8.	IDFC First Bank			₹18,151.5 Cr.	0.00	₹93.55 Cr.	115.15	1.01	3831.39	5.30

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IDFC First Bank Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020
Revenue	2,220	2,284	2,281	2,321	2,334	3,664	3,629	3,793	4,018	4,100	3,956	3,831
Interest	1,758	1,789	1,828	1,831	1,883	2,519	2,516	2,619	2,655	2,566	2,392	2,205
Expenses -	222	479	689	435	1,104	1,252	1,803	2,448	1,538	3,736	1,940	1,983
Employee Cost %	7.12%	7.51%	7.94%	8.68%	8.99%	9.79%	9.59%	9.52%	10.06%	9.72%	9.19%	11.57%
Financing Profit	240	16	-236	55	-653	-107	-690	-1,273	-175	-2,202	-376	-357
Financing Margin %	11%	1%	-10%	2%	-28%	-3%	-19%	-34%	-4%	-54%	-10%	-9%
Other Income	145	231	93	199	119	-2,339	273	310	349	579	484	485
Depreciation	40	41	44	45	49	58	0	0	73	0	0	0
Profit before tax	345	206	-186	208	-583	-2,504	-417	-963	100	-1,623	107	128
Tax %	32%	29%	123%	13%	37%	39%	48%	36%	778%	-1%	33%	27%
Net Profit	234	146	42	182	-370	-1,538	-218	-617	-680	-1,639	72	94
EPS in Rs	0.69	0.43	0.12	0.53	-1.09	-3.22	-0.46	-1.29	-1.42	-3.43	0.15	0.19
Gross NPA %	3.92%	5.62%	3.31%	3.24%	1.63%	1.97%	2.43%	2.66%	2.62%	2.83%	2.60%	1.99%
Net NPA %	1.61%	2.52%	1.69%	1.63%	0.59%	0.95%	1.27%	1.35%	1.17%	1.23%	0.94%	0.51%
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
Revenue	0	3,649	8,533	8,930	11,948	15,867	15,906
Interest	0	2,802	6,515	7,132	8,749	10,232	9,819
Expenses -	3	494	1,420	1,724	4,532	9,430	9,198
Manufacturing Cost %		0.40%	0.35%	0.33%	0.79%	1.13%
Employee Cost %		7.06%	6.74%	7.59%	9.37%	9.64%
Other Cost %		6.08%	9.56%	11.40%	27.78%	48.66%
Financing Profit	-3	353	598	74	-1,333	-3,795	-3,111
Financing Margin %		10%	7%	1%	-11%	-24%	-20%
Other Income	0	403	1,008	1,117	851	1,722	1,897
Depreciation	0	41	134	163	2,813	305	73
Profit before tax	-3	716	1,471	1,027	-3,295	-2,379	-1,288
Tax %	0%	35%	31%	16%	41%	-20%
Net Profit	-3	467	1,020	859	-1,944	-2,864	-2,153
EPS in Rs	0.00	1.33	3.00	2.52	0.00	0.00	-4.51
Dividend Payout %	0%	18%	25%	30%	0%	0%

Compounded Sales Growth

3 Years:: 22.97%
TTM:: 18.52%

Compounded Profit Growth

TTM:: -1398.05%

Return on Equity

3 Years:: -17.67%
1 Year:: -26.64%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Share Capital -	0	3,393	3,399	3,404	4,782	4,810
Equity Capital	0	3,393	3,399	3,404	4,782	4,810
Reserves	-3	10,237	11,278	11,852	13,378	10,533
Borrowings	0	65,379	90,470	105,485	140,462	122,505
Other Liabilities -	3	4,208	7,012	5,778	8,563	11,353
Other liability items	3	4,208	7,012	5,778	8,563	11,353
Total Liabilities	0	83,216	112,160	126,520	167,185	149,200
Fixed Assets -	0	644	781	781	917	965
Gross Block	0	759	1,024	1,184	4,214	4,545
Accumulated Depreciation	0	116	243	403	3,298	3,581
CWIP	0	29	5	3	34	73
Investments	0	29,729	50,472	61,202	58,475	45,405
Other Assets -	0	52,814	60,901	64,535	107,759	102,758
Cash Equivalents	0	2,904	5,102	4,892	9,567	4,191
Loans n Advances	0	4,329	6,593	7,666	11,994	13,047
Other asset items	0	45,582	49,206	51,977	86,198	85,520
Total Assets	0	83,216	112,160	126,520	167,185	149,200

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity -	0	-13,034	14,247	-5,941	17,293	10,927
Profit from operations	-3	788	1,922	1,547	1,112	2,371
Loans Advances	0	-3,774	-3,811	-3,073	-7,513	-1,101
Operating investments	0	-18,625	-16,094	-9,902	3,514	15,262
Deposits	0	8,219	31,989	7,990	22,281	-5,371
Other WC items	3	590	478	-2,163	-2,178	-105
Working capital changes	3	-13,590	12,562	-7,148	16,104	8,684
Direct taxes	0	-231	-237	-340	77	-129
Cash from Investing Activity -	0	7,171	-5,074	-1,008	-412	-3,764
Fixed assets purchased	0	-179	-256	-165	-261	-401
Fixed assets sold	0	1	2	3	4	7
Investments purchased	0	0	-4,525	-857	-1,093	-3,371
Investments sold	0	7,350	0	0	0	0
Shares acq cancelled	0	0	0	11	67	0
Acquisition of companies	0	0	-296	0	0	0
Other investing items	0	0	0	0	871	0
Cash from Financing Activity -	0	7,475	-6,974	6,744	-12,207	-12,539
Proceeds from shares	0	7,036	26	24	2	48
Repayment of borrowings	0	0	0	0	-11,910	-12,586
Dividends paid	0	0	-102	-305	-294	0
Other financing items	0	439	-6,898	7,025	-5	0
Net Cash Flow	0	1,612	2,198	-205	4,675	-5,376

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Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROE %		7%	7%	6%	-12%	-17%

Announcements & News

Recent Announcements

Credit Ratings

India Ratings Affirms IDFC FIRST Bank’s Debt Instruments at ‘IND AA+’/Negative Aug 7 from fitch
IDFC First Bank Limited: Ratings reaffirmed Jun 8 from icra
IDFC FIRST Bank Limited: 'FAAA/Stable' assigned to FD Apr 9 from crisil
IDFC FIRST Bank Limited: 'CRISIL AA/Stable' assigned to Tier II Bonds (Under Basel III) Feb 18 from crisil
IDFC First Bank Limited: 'CRISIL A1+' assigned to CD Feb 7 from crisil
India Ratings Assigns IDFC FIRST Bank’s Tier 2 bonds ‘IND AA+’; Outlook Negative; Affirms Existing Ratings 10 Dec 2019 from fitch

Annual Reports

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