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BANDHANBNK - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.1

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 3.1

Stock Code BANDHANBNK Market Cap 26,320 Cr. Current Price 163 ₹ High / Low 192 ₹
Stock P/E 26.1 Book Value 153 ₹ Dividend Yield 0.92 % ROCE 7.82 %
ROE 11.9 % Face Value 10.0 ₹ DMA 50 166 ₹ DMA 200 162 ₹
Chg in FII Hold -1.12 % Chg in DII Hold 0.94 % PAT Qtr 206 Cr. PAT Prev Qtr 112 Cr.
RSI 43.4 MACD 1.02 Volume 82,99,453 Avg Vol 1Wk 1,44,20,058
Low price 134 ₹ High price 192 ₹ PEG Ratio 0.15 Debt to equity 6.76
52w Index 50.2 % Qtr Profit Var -51.8 % EPS 6.25 ₹ Industry PE 14.8

📊 Financial Overview

  • Revenue & Profitability: PAT improved from 112 Cr. to 206 Cr., but quarterly profit variation (-51.8%) highlights volatility.
  • Margins & Returns: ROE (11.9%) is modest, ROCE (7.82%) relatively weak compared to peers.
  • Debt: Debt-to-equity ratio at 6.76, high but typical for banks.
  • Cash Flow: EPS at 6.25 ₹, modest relative to valuation multiples.

💹 Valuation Metrics

  • P/E Ratio: 26.1 vs Industry PE of 14.8 → Overvalued.
  • P/B Ratio: Current Price ₹163 vs Book Value ₹153 → Fairly valued.
  • PEG Ratio: 0.15 → Attractive, suggesting undervaluation relative to growth.
  • Intrinsic Value: Current price slightly above fair value zone.

🏢 Business Model & Competitive Advantage

  • Strong presence in microfinance and retail banking.
  • Focus on financial inclusion provides niche advantage.
  • However, high leverage and modest efficiency metrics limit competitiveness.

📈 Entry Zone Recommendation

  • Technicals: RSI at 43.4 (neutral), MACD slightly positive, price near DMA levels.
  • Suggested entry zone: ₹140–₹150 for accumulation.
  • Long-term holding viable if profitability stabilizes and valuations normalize.


✅ Positive

  • Quarterly profits improved sequentially (206 Cr. vs 112 Cr.).
  • PEG ratio (0.15) suggests undervaluation relative to growth.
  • DII holding increased (+0.94%).

⚠️ Limitation

  • ROCE (7.82%) and ROE (11.9%) modest compared to peers.
  • High debt-to-equity ratio (6.76).
  • P/E ratio (26.1) above industry average.

📉 Company Negative News

  • FII holding reduced (-1.12%).
  • Quarterly profit variation (-51.8%) indicates volatility.

📈 Company Positive News

  • DII holding increased (+0.94%).
  • Sequential PAT growth shows recovery momentum.

🏭 Industry

  • Industry PE at 14.8, lower than company’s 26.1.
  • Banking sector stable with long-term growth potential, but valuations remain sensitive to earnings consistency.

🔎 Conclusion

  • Bandhan Bank shows niche strength in microfinance but faces earnings volatility and stretched valuations.
  • Efficiency metrics are modest, limiting competitive edge.
  • Best strategy: Accumulate in the ₹140–₹150 zone.
  • Long-term holding viable only if profitability stabilizes and valuation aligns closer to industry averages.

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