Is Tamilnad Mercantile Bank a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tamilnad Mercantile Bank Ltd is a average quality company .

Is Tamilnad Mercantile Bank undervalued or overvalued?

The key valuation ratios of Tamilnad Mercantile Bank Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Tamilnad Mercantile Bank share price return in the past 10 years?

Data is not available for this company

Is Tamilnad Mercantile Bank a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Tamilnad Mercantile Bank Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the P/E ratio of Tamilnad Mercantile Bank?

The latest standalone P/E ratio of Tamilnad Mercantile Bank as of 20-Dec-2024 is 6.56.

What is the P/B ratio of Tamilnad Mercantile Bank?

The latest standalone P/B ratio of Tamilnad Mercantile Bank as of 20-Dec-2024 is 0.88.

Tamilnad Mercantile Bank Ltd - Stock Valuation and Financial Performance

Name: Tamilnad Mercantile Bank
Brand: Tamilnad Mercantile Bank

BSE: 543596 | NSE: TMB | Bank - Private | Small Cap

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Tamilnad Mercantile Share Price

₹467.50 -2.20 -0.47%
as on 20-Dec'24 16:59

10 Year X-Ray of Tamilnad Mercantile:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Net Interest Income (₹ Cr.)	883	1,044	1,151	1,210	1,230	1,320	1,538	1,815	2,094	2,151	2,267
YoY Gr. Rt. %	-	18.2%	10.2%	5.1%	1.7%	7.3%	16.5%	18.1%	15.4%	2.7%	-
Total Income	3,127	3,571	3,811	3,757	3,639	3,993	4,253	4,646	4,710	5,493	5,884
YoY Gr. Rt. %	-	14.2%	6.7%	-1.4%	-3.1%	9.7%	6.5%	9.2%	1.4%	16.6%	-
Adj EPS (₹ )	26.6	28.2	22.2	15.6	18.1	28.6	42.3	57.7	65	67.7	71.2
YoY Gr. Rt. %	-	6%	-21.2%	-29.9%	16.5%	57.7%	48%	36.2%	12.7%	4.2%	-
BVPS (₹ )	182	206.4	226.2	238.9	253.9	279.3	321.4	374.4	437.5	500.2	532.4
YoY Gr. Rt. %	-	13.4%	9.6%	5.6%	6.3%	10%	15.1%	16.5%	16.9%	14.3%	-
To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ
Net Profit/Total Funds (%)	1.4	1.2	0.9	0.6	0.7	1	1.3	1.6	1.9	1.8	1.8
To view Net NPA to Net Advances (%) Colour Rating Guide click here ⓘ
Net NPA to Net Advances (%)	0.7	0.9	1.7	2.2	2.4	1.8	2	2	0.6	0.9	0.5
To view Capital Adequacy Ratio (%) Colour Rating Guide click here ⓘ
Capital Adequacy Ratio (%)	-	-	-	-	-	-	-	-	-	-	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Net Interest Income	10.4%	11.8%	11.8%	2.7%
Total Income	6.5%	8.6%	8.9%	16.6%
Adj EPS	10.9%	30.1%	16.9%	4.2%
BVPS	11.9%	14.5%	15.9%	14.3%
Share Price	-	-	-	-8.1%

Key Financial Ratios


RATIOS \ YEARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Interest Earned / Total Income	90.67	91.08	88.7	86.53	88.61	86.81	84.85	82.52	86.64	88.26	86.7
Margins	To view Margins Colour Rating Guide click here ⓘ
NIM (%)	3.1	3.2	3.3	3.4	3.2	3.2	3.4	3.6	3.8	3.7	3.6
Performance Ratios	To view Performance Ratios Colour Rating Guide click here ⓘ
Return on Equity (%)	15.6	14.5	10.3	6.7	7.4	10.7	14.1	16.6	16.8	14.4	13.3
Liquidity Ratio	To view Liquidity Ratio Colour Rating Guide click here ⓘ
CASA (%)	19.6	19.4	23.2	25.3	24.6	25.9	28.5	30.5	28.8	29.6	-

Recent Performance Summary

Total Income has increased 8.90 CAGR in last 3 years

Net Profit has increased 16.94 CAGR in last 3 years

Net NPA to Net Advances has declined versus last 3 years average

Total income growth is not so good in last 4 quarters

Return on Equity has declined versus last 3 years average to 13.80%

Latest Financials - Tamilnad Mercantile Bank Ltd.

	Standalone	Consolidated
TTM EPS (₹)	71.2	-
TTM Sales (₹ Cr.)	5,101	-
BVPS (₹.) ⓘ	532.4	-
Reserves (₹ Cr.) ⓘ	8,353	-
P/BV ⓘ	0.88	-
PE ⓘ	6.56	-

From the Market
52 Week Low / High (₹)	418.50 / 517.45
All Time Low / High (₹)	396.05 / 611.00
Market Cap (₹ Cr.)	7,403
Equity (₹ Cr.)	158.4
Face Value (₹)	10
Industry PE ⓘ	17.7

Management X-Ray of Tamilnad Mercantile:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Tamilnad Mercantile

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Tamilnad Mercantile

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Total Income (Cr.)

ROE (%)

BVPS (Rs.)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Income	3,127	3,571	3,811	3,757	3,639	3,993	4,253	4,646	4,710	5,493
Interest Income	2,836	3,252	3,381	3,250	3,224	3,466	3,609	3,834	4,081	4,848
Other Income ⓘ	292	319	431	506	414	526	644	812	629	645
Expenditure	2,748	3,169	3,495	3,535	3,380	3,585	3,650	3,824	3,681	4,421
Interest Expense	1,952	2,208	2,230	2,041	1,994	2,147	2,072	2,019	1,987	2,697
Operating Expenses	568	637	706	710	760	851	980	1,111	1,150	1,314
Provisions	228	323	559	784	626	587	599	695	544	410
Profit Before Tax	542	549	492	310	397	585	798	1,125	1,394	1,394
Taxes	163	147	176	88	138	177	195	303	364	322
Profit After Tax	379	402	317	222	259	408	603	822	1,029	1,072
Adjusted EPS (₹)	26.62	28.21	22.22	15.57	18.14	28.61	42.34	57.67	65.00	67.70
Dividend Payout Ratio (%)	12%	11%	14%	21%	18%	0%	12%	17%	15%	15%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Share Capital ⓘ	0	0	143	143	143	143	143	143	158	158
Total Reserves ⓘ	2,594	2,941	3,082	3,262	3,476	3,837	4,437	5,193	6,770	7,763
Minority Interest	0	0	0	0	0	0	0	0	0	0
Deposits	25,650	30,369	32,190	32,428	35,136	36,825	40,970	44,933	47,766	49,515
Borrowings ⓘ	40	333	0	513	0	324	0	0	525	1,301
Other Liabilities	1,465	1,623	1,570	1,574	1,778	1,630	1,977	2,590	2,676	2,815
Total Liabilities ⓘ	29,749	35,266	36,984	37,920	40,533	42,759	47,527	52,858	57,895	61,552
Assets
Balance with RBI	1,272	1,398	1,458	1,702	1,735	1,414	1,680	2,113	2,103	2,230
Balance with Banks	163	201	488	302	1,185	2,322	1,025	1,739	1,479	1,338
Investments ⓘ	7,671	8,865	11,504	10,364	9,107	9,467	11,703	13,242	14,156	15,263
Advances	19,336	22,578	21,972	23,769	26,488	27,716	31,070	33,492	37,290	39,734
Net Block ⓘ	126	156	154	140	138	128	137	211	246	271
Other Assets	1,180	2,069	1,407	1,644	1,880	1,711	1,912	2,062	2,622	2,717
Total Assets ⓘ	29,749	35,266	36,984	37,920	40,533	42,759	47,527	52,858	57,895	61,552

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	319	-18	753	-389	1,498	567	-670	1,325	-1,270	-611
Cash Flow From Investing Activity ⓘ	-44	-62	-38	-26	-34	-20	-37	-107	-89	-100
Cash Flow From Financing Activity ⓘ	-250	245	-368	472	-547	269	-324	-71	1,088	697
Net Cash Flow ⓘ	24	164	347	58	917	816	-1,031	1,147	-270	-14

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational & Financial Ratios
EPS (₹)	13,336	14,136	22	16	18	29	42	58	65	68
DPS (₹)	1,600	1,600	3	3	3	0	5	10	10	10
BVPS (₹)	91189	103398	226	239	254	279	321	374	438	500
Margin Ratios
Yield on Advances (%)	14.7	14.4	15.4	13.7	12.2	12.5	11.6	11.5	10.9	12.2
Yield on Investments (%)	8.5	8.7	8.2	9.1	8.5	8.2	7.7	6.7	6.4	6.8
Cost of Liabilities (%)	7.6	7.2	6.9	6.2	5.7	5.8	5.1	4.5	4.1	5.3
NIM (%)	3.1	3.2	3.3	3.4	3.2	3.2	3.4	3.6	3.8	3.7
Interest Spread (%)	7.1	7.2	8.5	7.5	6.5	6.7	6.6	7.0	6.8	6.9
Performance Ratios
ROA (%)	1.4	1.2	0.9	0.6	0.7	1.0	1.3	1.6	1.9	1.8
ROE (%)	15.6	14.5	10.3	6.7	7.4	10.7	14.1	16.6	16.8	14.4
ROCE (%)	22.4	20.2	15.7	9.0	11.8	14.9	18.4	22.8	22.2	17.3
Efficiency Ratios
Cost to Income Ratio (%)	48.3	46.8	44.6	41.4	46.2	46.1	44.9	42.3	42.2	47.0
Operating Costs to Assets (%)	1.9	1.8	1.9	1.9	1.9	2.0	2.1	2.1	2.0	2.1
Valuation Parameters
Price/Book(x)	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.9	1.0

Tamilnad Mercantile Bank Ltd Stock News

Tamilnad Mercantile Bank Ltd FAQs

What is the share price of Tamilnad Mercantile?

Company share prices are keep on changing according to the market conditions. The closing price of Tamilnad Mercantile on 20-Dec-2024 16:59 is ₹467.5.

What is the market cap of Tamilnad Mercantile?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Dec-2024 16:59 the market cap of Tamilnad Mercantile stood at ₹7,402.9.

What is the P/E ratio of Tamilnad Mercantile?

The latest P/E ratio of Tamilnad Mercantile as of 20-Dec-2024 16:59 is 6.56.

What is the P/B ratio of Tamilnad Mercantile?

The latest P/B ratio of Tamilnad Mercantile as of 20-Dec-2024 16:59 is 0.88.

What is the 52-week high and low of Tamilnad Mercantile?

The 52-week high of Tamilnad Mercantile is ₹517.5 and the 52-week low is ₹418.5.

What is the TTM revenue of Tamilnad Mercantile?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tamilnad Mercantile is ₹5,101 ( Cr.) .

About Tamilnad Mercantile Bank Ltd

The Bank was incorporated in the name of ‘Nadar Bank Limited’ on May 11, 1921 at Thoothukudi, Tamil Nadu as a limited company under the Indian Companies Act, 1913 pursuant to a certificate of incorporation issued by the erstwhile Assistant Registrar of Joint Stock, Palamcottah. The Bank commenced its business on November 11, 1921 at Thoothukudi, Tamil Nadu. Subsequently, the name of the Bank was changed to ‘Tamilnad Mercantile Bank Limited’, with effect from November 27, 1962, pursuant to a letter of approval from the Government of India dated November 14, 1962 and a fresh certificate of incorporation dated July 17, 1968 was issued by the Assistant Registrar of Companies, Madras

Tamilnad Mercantile Bank is one of the oldest and leading old private sector banks in India. It offers a wide range of banking and financial services primarily to micro, small and medium enterprises (MSME), agricultural and retail customers (RAM). Since its incorporation, having head quartered at Thoothukudi, Tamil Nadu, India, it has built a strong presence in the state of Tamil Nadu. It also focuses on diversifying its growth in other high growth regions of India which will help increase its network and client base. Apart from Tamil Nadu, it has sizable presence in the states of Maharashtra, Gujarat, Karnataka, and Andhra Pradesh. The company’s advances portfolio primarily consists of lending to Retail customers; agricultural customers and MSMEs (RAM). Its deposits portfolio consists of term deposits, recurring deposits, savings bank and current bank accounts amongst others.

Business area of the bank

The bank offers banking products and services to retail, MSME, agricultural and corporate customers. Its retail asset products include home loans, personal loans, auto loans, educational loans, business loans as well as security-backed loans of various types to its retail customers. Its MSME portfolio consists primarily of various loan products to its MSME customers such as manufacturing, traders and services sector. Its loans to the agricultural sector include loans to individual farmers, group of farmers, agriculture businesses and agriculture corporate.

Key awards, accreditations and recognition

2011: The Bank was ranked first amongst old private sector banks at the “Financial Express - India’s Best Banks Awards” for the Fiscal 2011-12.
2012: The Bank was rated as the best bank in priority sector and the second-best bank in efficiency and profitability at the “Sunday Standard FINWIZ Best Bankers’ Awards 2012”.
2012: The Bank was awarded the “SFBC Kerala Banking Excellence Award 2012” for being ranked as the third best bank in the private sector banks category by the State Forum of Bankers’ Club, Kerala.
2013: The Bank was ranked second amongst old private sector banks at the “Financial Express – India’s Best Banks Awards” for the Fiscal 2013-14.
2013: The Bank was awarded the “Best Banker” award in the customer orientation and human resources categories at the “The Indian Express Sunday Standards Best Bankers Awards 2013”.
2013: The Bank was felicitated by the Life Insurance Corporation of India for achieving “100% Log In” on June 14, 2013.
2013: The Bank was felicitated by the Life Insurance Corporation of India for “Outstanding Performance in Bancassurance” for the Fiscal 2012-13.
2014: The Bank was awarded the “Social Banking Excellence Award 2014” for being categorized as the winner in the private sector banks category by ASSOCHAM India.
2015: The Bank was awarded the “Social Banking Excellence Award 2015” for being recognized as the overall best social bank and for participation in government schemes in the small banks category by ASSOCHAM India.
2015: The Bank was recognized as the “Best Bank in Private Sector” by ABP News at their BFSI Awards, 2015 on February 14, 2015 and at the Lokmat BFSI Awards, 2015 on July 24, 2015.
2015: The Bank was awarded the “SFBCK Banking Excellence Award 2015” for being ranked as the third best bank at the national level in the private sector by State Forum of Bankers’ Club, Kerala.
2016: The Bank was awarded the “SFBCK Banking Excellence Award 2016” for being ranked as the third best bank at the national level in the private sector by State Forum of Bankers’ Club, Kerala.
2016: The Bank was felicitated by the Life Insurance Corporation of India on completion of “Rs 51.56 crore First Premium” in the Fiscal 2016-17.
2017: The Bank was recognized as the “Best Bank in Private Sector” by ABP News at their BFSI Awards, 2017 on February 14, 2017.
2018: The Bank was awarded the “Social Banking Excellence Awards 2018” for being recognized as the overall best social bank and also as the winner in agricultural banking in the small banks category by ASSOCHAM India.
2019: The Bank was awarded the “BFSI Award for Digital Financial Inclusion” in the Governance Now 4th India Banking Reforms Conclave 2019 by BFSI May 29, 2019.
2021: The Bank was awarded the “12th SFBCK Banking Excellence Award 2020” for being ranked as the second-best bank at the national level in the old private sector category by State Forum of Bankers’ Club, Kerala.
2021: The Bank was awarded the “South India Best Employer Brand Awards 2021” at the 16th Employer Branding Awards.
2021: The Bank was awarded the “Citizen’s Choice Award of Excellence” for the first half of Fiscal 2021-22 for being the best performing state coordinator by the Pension Fund Regulatory and Development Authority.
2021: The Bank was awarded the “Annual APY Award” for the Fiscal 2021-22 by the Pension Fund Regulatory and Development Authority.
2021: The Bank was recognized as the “Second Best Performed Bank under Private Sector Category Banks” by State Forum of Bankers’ Club, Kerala.

Major events and milestones

1921: The Bank was incorporated as Nadar Bank Limited.
1933: The Bank acquired its first property at Beach Road, Thoothukudi, Tamil Nadu.
1946: The Bank celebrated its silver jubilee.
1962: The Bank changed its name to Tamilnad Mercantile Bank Limited.
1968: The Bank opened a rural branch at Vilathikulam, Tamil Nadu.
1971: The Bank celebrated its golden jubilee.
1993: The Bank registered as Category-1 Merchant Bankers with SEBI.
1993: The Bank opened its first currency chest at our Madurai branch.
1997: The Bank celebrated its platinum jubilee.
1999: The Bank granted licence to deal in foreign exchange.
2004: The Bank launched first ATM, christened as TMB Surabhi, in Chennai.
2005: The Bank launched its first insurance linked deposit scheme, christened as Siranjeevee Recurring Deposit.
2008: The Bank launched SMS banking services.
2008: The Bank launched its internet banking facilities, christened as TMB E-Connect.
2012: The Bank launched its mobile banking facilities.
2014: The Bank entered into an agreement for the issuance of PAN cards.
2021: The Bank was recognized as the “Best Performing Bank” by Pension Fund Regulatory and Development Authority of India for the outstanding performance under the Atal Pension Yojana for the period 2020-2021.