Bandhan Bank's intrinsic value using Intellectual Capital analysis

Bandhan Bank

BSE : 541153

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NSE : BANDHANBNK

Industry : Bank Pvt sector

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ISIN : INE545U01014

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FreeFloat : 10.00%

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FnO : Yes

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LotSize : 1200

BSE 100 Largecap TMC | BSE 250 LargeMidcap | BSE Largecap | BSE LargeMidcap | Nifty 100 | Nifty 200 | Nifty LargeMidcap 250 | Nifty Next 50 | Nifty100 Equal Weight | BSE Private Bank | Nifty Bank | Nifty Private Bank | BSE Diversfied Financials Rev Growth | Nifty Services Sector

Intellectual Capital (IC)	37,836.23
Net Worth (NW)	15,195.46
Intrinsic Worth (IW)	53,031.70
Market Cap (MC)	32,808.80
Economic Value Added	52.57

Discount Rate	%
Liquidity Premium	%

Knowledge Basis (IC/IW)	71.35%
IC Gross Margin (EBITDA/IC)	23.93%
IC Net Margin (NPT/IC)	8.40%
Knowledge Turnover (Sales/IC)	0.31
Market to Intrinsic Value (MC/IW)	0.62

As Of	Intrinsic Value	Market Price
31 Mar 2020	Rs. 329.34	Rs. 203.75
26 May 2020	-	Rs. 202.15

Fundamental - medium term		Technical - near term		Combined outlook
EVA > 0 : Yes	Buy	10 DMA : Rs. 226.96	Sell	Avoid
KB > 50% : Yes		50 DMA : Rs. 227.29
0 < M2IV < 1 : Yes		Vol-Price trend : Falling

Question 3 - Is this stock undervalued?

Question 2 - Does this business have significant knowledge assets?

Question 1 - Is this business generating enough profits to cover its cost of capital?

* EVA is a registered trademark of Stern Stewart and Co.

Quarterly Results (Rs. Cr)

Quarter

Type*

Sales

Income

EBITDA

EBIT

PBT

PAT

NPT

Jun-17
S
1128.55
1324.54
952.68
952.68
543.42
350.15
350.15

Sep-17
S
1144.93
1293.54
893.00
893.00
465.83
307.50
307.50

Dec-17
S
1178.23
1336.43
898.37
898.37
451.92
300.05
300.05

Mar-18
S
1350.60
1553.97
1081.91
1081.91
594.72
387.86
387.86

Jun-18
S
1556.17
1766.86
1259.49
1259.49
740.49
481.71
481.71

Sep-18
S
1605.64
1836.08
1278.00
1278.00
749.81
487.65
487.65

Dec-18
S
1649.55
1883.65
1048.38
1048.38
522.83
331.27
331.27

Mar-19
S
1832.69
2220.51
1575.14
1575.14
999.92
650.87
650.87

Jun-19
S
2631.30
2962.33
2286.45
2286.45
1229.71
803.62
803.62

Sep-19
S
2690.27
3050.55
2322.62
2322.62
1161.39
971.80
971.80

Dec-19
S
2717.63
3075.34
2146.35
2146.35
969.00
731.03
731.03

Mar-20
S
2846.29
3346.47
1859.58
1859.58
693.33
517.29
517.29

* C - Consolidated, S - Standalone