RBL Bank's intrinsic value using Intellectual Capital analysis

RBL Bank

BSE : 540065

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NSE : RBLBANK

Industry : Bank Pvt sector

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ISIN : INE976G01028

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FreeFloat : 30.00%

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FnO : Yes

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LotSize : 1500

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Intellectual Capital (IC)	2,375.94
Net Worth (NW)	10,582.95
Intrinsic Worth (IW)	12,958.89
Market Cap (MC)	6,892.87
Economic Value Added	376.41

Discount Rate	%
Liquidity Premium	%

Knowledge Basis (IC/IW)	18.33%
IC Gross Margin (EBITDA/IC)	259.16%
IC Net Margin (NPT/IC)	24.07%
Knowledge Turnover (Sales/IC)	3.94
Market to Intrinsic Value (MC/IW)	0.53

As Of	Intrinsic Value	Market Price
31 Mar 2020	Rs. 254.75	Rs. 135.50
26 May 2020	-	Rs. 110.55

Fundamental - medium term		Technical - near term		Combined outlook
EVA > 0 : Yes	Sell	10 DMA : Rs. 114.49	Accumulate	Sell on Rallies
KB > 50% : No		50 DMA : Rs. 135.70
0 < M2IV < 1 : Yes		Vol-Price trend : Rising

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
1042.78
1299.70
881.33
881.33
216.93
141.02
141.02

Sep-17
S
1091.29
1332.36
899.39
899.39
228.26
150.62
150.62

Dec-17
S
1150.79
1409.01
934.62
934.62
251.12
165.33
165.33

Mar-18
S
1222.71
1534.69
992.49
992.49
270.24
178.12
178.12

Jun-18
S
1364.22
1690.19
1103.49
1103.49
291.97
190.04
190.04

Sep-18
S
1463.43
1796.54
1179.83
1179.83
309.37
204.54
204.54

Dec-18
S
1638.93
2012.99
1321.64
1321.64
337.79
225.19
225.19

Mar-19
S
1834.12
2243.35
1455.42
1455.42
360.02
247.18
247.18

Jun-19
S
2022.67
2503.88
1610.97
1610.97
405.62
267.05
267.05

Sep-19
S
2126.15
2567.68
1359.98
1359.98
102.52
54.31
54.31

Dec-19
S
2157.33
2644.30
1328.56
1328.56
93.88
69.95
69.95

Mar-20
S
2208.23
2708.77
1338.01
1338.01
150.76
114.36
114.36

* C - Consolidated, S - Standalone