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RBLBANK - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.4

Last Updated Time : 02 Feb 26, 01:19 pm

Fundamental Rating: 3.4

Stock Code RBLBANK Market Cap 18,060 Cr. Current Price 292 ₹ High / Low 332 ₹
Stock P/E 27.3 Book Value 257 ₹ Dividend Yield 0.34 % ROCE 6.04 %
ROE 4.57 % Face Value 10.0 ₹ DMA 50 304 ₹ DMA 200 273 ₹
Chg in FII Hold 6.42 % Chg in DII Hold 4.41 % PAT Qtr 214 Cr. PAT Prev Qtr 179 Cr.
RSI 41.8 MACD -3.86 Volume 57,15,487 Avg Vol 1Wk 48,22,579
Low price 149 ₹ High price 332 ₹ PEG Ratio 0.22 Debt to equity 8.32
52w Index 78.1 % Qtr Profit Var 555 % EPS 10.8 ₹ Industry PE 15.8

📊 Core Financials

  • Revenue & Profitability: Quarterly PAT at ₹214 Cr, up from ₹179 Cr, showing strong sequential growth. EPS at ₹10.8 is modest relative to market cap.
  • Margins: ROE at 4.57% and ROCE at 6.04% reflect weak efficiency and profitability compared to peers.
  • Debt Ratios: Debt-to-equity at 8.32 is very high, typical for banks but still a structural risk.
  • Cash Flows: Operating cash flows supported by profitability, though leverage and asset quality risks remain.

💹 Valuation Indicators

  • P/E Ratio: 27.3, significantly higher than industry average of 15.8, suggesting premium valuation.
  • P/B Ratio: Current price ₹292 vs. book value ₹257 → ~1.14x, fairly reasonable relative to assets.
  • PEG Ratio: 0.22, attractive, showing growth potential relative to valuation.
  • Intrinsic Value: Valuation appears stretched on P/E basis, but P/B and PEG suggest some margin of safety.

🏢 Business Model & Competitive Advantage

  • RBL Bank operates as a private sector bank with focus on retail, corporate, and SME lending.
  • Competitive advantage lies in niche retail presence and growing digital banking initiatives.
  • Business model benefits from credit expansion, though profitability remains subdued compared to peers.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between ₹270 – ₹285, near DMA200 and support levels.
  • Long-Term Holding: Suitable for investors seeking growth exposure in private banking, though high leverage and weak ROE must be monitored closely.

✅ Positive

  • Quarterly PAT growth from ₹179 Cr to ₹214 Cr.
  • Strong institutional confidence with FII (+6.42%) and DII (+4.41%) increases.
  • 52-week performance shows 78.1% gain.

⚠️ Limitation

  • High debt-to-equity ratio (8.32) increases financial risk.
  • ROE at 4.57% and ROCE at 6.04% reflect weak efficiency.
  • P/E ratio of 27.3 is expensive compared to industry average.

📉 Company Negative News

  • Weak profitability metrics despite growth in PAT.
  • High leverage remains a structural concern.

📈 Company Positive News

  • Quarterly profit variation of 555% YoY highlights strong recovery momentum.
  • Institutional investors increased holdings significantly.
  • Stock has rebounded strongly from 52-week low of ₹149.

🏭 Industry

  • Private banking sector trades at industry PE of 15.8, lower than RBL Bank’s 27.3, showing premium valuation.
  • Sector growth supported by credit expansion and digital adoption, though asset quality remains a challenge.

🔎 Conclusion

  • RBL Bank shows strong profit growth and institutional support but suffers from weak efficiency and high leverage.
  • Valuation is stretched on P/E basis, though PEG and P/B offer some comfort.
  • Best suited for long-term investors willing to accept higher risk, with entry around ₹270 – ₹285 providing a reasonable margin of safety.

I can also prepare a comparative HTML snapshot of RBL Bank versus Federal Bank to highlight differences in valuation, profitability, and risk profile.

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