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DCB Bank

NSEI:DCBBANK
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DCBBANK
NSEI
₹71B
Market Cap
  1. Home
  2. IN
  3. Banks
Company description

DCB Bank Limited provides various banking and financial products and services in India. The last earnings update was 15 days ago. More info.


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DCBBANK Share Price and Events
7 Day Returns
5.3%
NSEI:DCBBANK
7.4%
IN Banks
4.9%
IN Market
1 Year Returns
24.1%
NSEI:DCBBANK
15.4%
IN Banks
0.8%
IN Market
DCBBANK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
DCB Bank (DCBBANK) 5.3% 13.3% 32.5% 24.1% 158.8% 216.6%
IN Banks 7.4% 1.5% 15.9% 15.4% 58.9% 23.8%
IN Market 4.9% -1.6% 9.4% 0.8% 39.5% 45.6%
1 Year Return vs Industry and Market
  • DCBBANK outperformed the Banks industry which returned 15.4% over the past year.
  • DCBBANK outperformed the Market in India which returned 0.8% over the past year.
Price Volatility
DCBBANK
Industry
5yr Volatility vs Market

Value

 Is DCB Bank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of DCB Bank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for DCB Bank.

NSEI:DCBBANK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= ₹116.36 * 14%
₹16.24
Book Value of Equity per Share Weighted future Book Value estimates from 11 analysts. ₹116.36
Discount Rate (Cost of Equity) See below 14.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:DCBBANK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 35%) (38.15%))
0.82
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.82 * 8.6%)
14.6%

Discounted Cash Flow Calculation for NSEI:DCBBANK using Excess Returns Model Model

The calculations below outline how an intrinsic value for DCB Bank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NSEI:DCBBANK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14% – 14.6%) * ₹116.36)
₹-0.74
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹-0.74 / (14.6% - 7.55%)
₹-10.56
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹116.36 + ₹-10.56
₹105.8
NSEI:DCBBANK Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹105.80
Current discount Discount to share price of ₹229.20
= -1 x (₹229.20 - ₹105.80) / ₹105.80
-116.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of DCB Bank is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for DCB Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are DCB Bank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:DCBBANK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹10.53
NSEI:DCBBANK Share Price ** NSEI (2019-05-21) in INR ₹229.2
India Banks Industry PE Ratio Median Figure of 21 Publicly-Listed Banks Companies 29.56x
India Market PE Ratio Median Figure of 2,757 Publicly-Listed Companies 15.52x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of DCB Bank.

NSEI:DCBBANK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:DCBBANK Share Price ÷ EPS (both in INR)

= 229.2 ÷ 10.53

21.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DCB Bank is good value based on earnings compared to the IN Banks industry average.
  • DCB Bank is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does DCB Bank's expected growth come at a high price?
Raw Data
NSEI:DCBBANK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.76x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
19.1%per year
India Banks Industry PEG Ratio Median Figure of 19 Publicly-Listed Banks Companies 1.15x
India Market PEG Ratio Median Figure of 561 Publicly-Listed Companies 1.3x

*Line of best fit is calculated by linear regression .

NSEI:DCBBANK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.76x ÷ 19.1%

1.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DCB Bank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on DCB Bank's assets?
Raw Data
NSEI:DCBBANK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹100.65
NSEI:DCBBANK Share Price * NSEI (2019-05-21) in INR ₹229.2
India Banks Industry PB Ratio Median Figure of 40 Publicly-Listed Banks Companies 0.6x
India Market PB Ratio Median Figure of 3,638 Publicly-Listed Companies 1.05x
NSEI:DCBBANK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:DCBBANK Share Price ÷ Book Value per Share (both in INR)

= 229.2 ÷ 100.65

2.28x

* Primary Listing of DCB Bank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • DCB Bank is overvalued based on assets compared to the IN Banks industry average.
X
Value checks
We assess DCB Bank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. DCB Bank has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is DCB Bank expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is DCB Bank expected to grow at an attractive rate?
  • DCB Bank's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • DCB Bank's earnings growth is expected to exceed the India market average.
  • DCB Bank's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:DCBBANK Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:DCBBANK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 19.1%
NSEI:DCBBANK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 18%
India Banks Industry Earnings Growth Rate Market Cap Weighted Average 31.8%
India Banks Industry Revenue Growth Rate Market Cap Weighted Average 18.7%
India Market Earnings Growth Rate Market Cap Weighted Average 16.9%
India Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:DCBBANK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:DCBBANK Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 29,118 7,173 1
2022-03-31 25,175 6,232 2
2021-03-31 21,285 5,235 12
2020-03-31 17,710 4,129 12
NSEI:DCBBANK Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 13,594 -47,096 3,254
2018-12-31 13,037 2,933
2018-09-30 12,469 2,642
2018-06-30 12,065 2,496
2018-03-31 11,669 -44,876 2,453
2017-12-31 11,074 2,340
2017-09-30 10,595 2,283
2017-06-30 10,018 2,179
2017-03-31 9,344 -41,234 1,997
2016-12-31 8,880 2,163
2016-09-30 8,317 2,062
2016-06-30 7,832 1,947

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • DCB Bank's earnings are expected to grow by 19.1% yearly, however this is not considered high growth (20% yearly).
  • DCB Bank's revenue is expected to grow by 18% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:DCBBANK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from DCB Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:DCBBANK Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 23.20 23.20 23.20 1.00
2022-03-31 19.40 19.40 19.40 1.00
2021-03-31 16.73 18.70 14.41 11.00
2020-03-31 13.25 14.20 12.58 11.00
NSEI:DCBBANK Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 10.53
2018-12-31 9.51
2018-09-30 8.57
2018-06-30 8.11
2018-03-31 8.02
2017-12-31 7.79
2017-09-30 7.74
2017-06-30 7.55
2017-03-31 7.01
2016-12-31 7.60
2016-09-30 7.26
2016-06-30 6.85

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • DCB Bank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess DCB Bank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
DCB Bank has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has DCB Bank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare DCB Bank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • DCB Bank's year on year earnings growth rate has been positive over the past 5 years.
  • DCB Bank's 1-year earnings growth exceeds its 5-year average (32.6% vs 12.7%)
  • DCB Bank's earnings growth has exceeded the IN Banks industry average in the past year (32.6% vs 23.2%).
Earnings and Revenue History
DCB Bank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from DCB Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:DCBBANK Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 13,593.91 3,253.66 6,452.00
2018-12-31 13,036.95 2,932.53 6,392.30
2018-09-30 12,469.35 2,641.63 6,247.20
2018-06-30 12,064.75 2,496.23 6,051.00
2018-03-31 11,669.05 2,453.43 5,861.60
2017-12-31 11,074.02 2,339.95 5,387.94
2017-09-30 10,595.32 2,282.75 5,183.44
2017-06-30 10,018.42 2,178.65 4,963.34
2017-03-31 9,344.46 1,996.75 4,722.84
2016-12-31 8,880.18 2,163.44 4,325.12
2016-09-30 8,316.78 2,062.44 4,115.42
2016-06-30 7,832.08 1,946.84 3,934.82
2016-03-31 7,520.48 1,945.24 3,755.72
2015-12-31 7,107.03 1,879.33 3,456.68
2015-09-30 6,754.93 1,892.53 3,282.88
2015-06-30 6,393.83 1,934.13 3,157.88
2015-03-31 6,044.43 1,911.83 3,045.18
2014-12-31 5,653.44 1,673.18 2,728.99
2014-09-30 5,306.88 1,611.79 2,629.18
2014-06-30 5,013.08 1,531.78 2,543.22
2014-03-31 4,704.48 1,513.61 2,457.23
2013-12-31 4,541.28 1,463.92 2,269.05
2013-09-30 4,333.73 1,369.36 2,224.41
2013-06-30 4,119.71 1,259.77 2,177.02
2013-03-31 3,773.87 1,020.62 2,140.39
2012-12-31 3,525.44 852.29 2,008.99
2012-09-30 3,350.04 739.61 1,975.48
2012-06-30 3,195.94 651.57 1,950.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • DCB Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • DCB Bank used its assets more efficiently than the IN Banks industry average last year based on Return on Assets.
  • Unable to establish if DCB Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess DCB Bank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
DCB Bank has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is DCB Bank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of DCB Bank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from DCB Bank Company Filings, last reported 1 month ago.

NSEI:DCBBANK Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 31,156.01 27,232.04 17,207.92
2018-12-31 29,306.70 20,110.40 11,112.30
2018-09-30 29,306.70 20,110.40 11,112.30
2018-06-30 28,078.32 19,267.11 15,001.13
2018-03-31 28,078.32 19,267.11 15,001.13
2017-12-31 26,848.40 14,208.60 10,786.30
2017-09-30 26,848.40 14,208.60 10,786.30
2017-06-30 22,048.84 12,758.07 5,174.60
2017-03-31 22,048.84 12,758.07 5,174.60
2016-12-31 18,892.70 12,304.90 8,787.20
2016-09-30 18,892.70 12,304.90 8,787.20
2016-06-30 17,921.72 11,478.96 4,911.36
2016-03-31 17,921.72 11,478.96 4,911.36
2015-12-31 16,783.80 8,324.30 6,506.90
2015-09-30 16,783.80 8,324.30 6,506.90
2015-06-30 15,885.75 11,637.96 9,124.94
2015-03-31 15,885.75 11,637.96 4,040.76
2014-12-31 12,350.68 6,839.18 6,845.77
2014-09-30 12,350.68 6,839.18 6,845.77
2014-06-30 11,539.59 8,601.60 6,728.54
2014-03-31 11,539.59 8,601.60 8,929.23
2013-12-31 10,786.51 8,438.03 4,504.07
2013-09-30 10,786.51 8,438.03 4,504.07
2013-06-30 10,030.59 15,256.20 9,653.10
2013-03-31 10,030.59 15,256.20 9,653.10
2012-12-31
2012-09-30
2012-06-30 8,613.67 11,234.50 5,532.32
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • DCB Bank has an acceptable proportion of non-loan assets held.
  • DCB Bank's liabilities are made up of primarily low risk sources of funding.
  • Loans at DCB Bank are broadly funded by customer deposits.
  • DCB Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if DCB Bank has a sufficient allowance for bad loans without relevant financial data.
  • DCB Bank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess DCB Bank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. DCB Bank has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is DCB Bank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.44%
Current annual income from DCB Bank dividends. Estimated to be 0.57% next year.
If you bought ₹2,000 of DCB Bank shares you are expected to receive ₹9 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • DCB Bank's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.53%).
  • DCB Bank's dividend is below the markets top 25% of dividend payers in India (2.02%).
Upcoming dividend payment

Purchase DCB Bank before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:DCBBANK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
India Banks Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 0.4%
India Market Average Dividend Yield Market Cap Weighted Average of 1401 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:DCBBANK Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 2.00 1.00
2022-03-31 1.80 1.00
2021-03-31 1.34 9.00
2020-03-31 1.13 8.00
NSEI:DCBBANK Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-06 1.000 0.459
2019-04-18 1.000 0.473
2018-05-04 0.750 0.435
2018-04-16 0.750 0.385
2017-04-21 0.500 0.271
2017-04-17 0.500 0.281

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, DCB Bank has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but DCB Bank only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of DCB Bank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (10.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (10.8x coverage).
X
Income/ dividend checks
We assess DCB Bank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can DCB Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. DCB Bank has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of DCB Bank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Murali Natrajan
COMPENSATION ₹49,357,143
AGE 56
TENURE AS CEO 10.1 years
CEO Bio

Murali M. Natrajan has served as Managing Director & Chief Executive Officer of DCB Bank Ltd. (the "Bank") since April, 2009. He has 33 years global experience in financial services. This includes Branch Banking, Mortgages, Credit Cards, Personal Loans, Wealth Management, SME, MSME, Corporate Banking, Agri, Operations, Technology, Credit Risk, Re-engineering, Finance, Marketing and Product Management. He has had successful international stints in Singapore, Hong Kong, South Korea and Indonesia. Prior to joining the Bank, he worked as Global Head of SME Banking, Standard Chartered Bank and was reporting to the CEO Global Consumer Banking. He was managing 27 countries and in collaboration with country teams was, inter alia, responsible for strategy, product creation, franchise development and portfolio quality. From November, 2004 to June, 2008, he was the Head of Consumer Banking (including SME Banking), India & Nepal, Standard Chartered Bank. He was responsible for Strategy, Business, Credit, Finance, Human Resources, Sales, Service, Operations, Distribution, Marketing, Business Analytics and Projects. In Standard Chartered Bank, he was a member of Global Executive Forum. In 1984, he started his career in India with American Express, Travel Related Services where he worked for five years. He gained experience in Business Planning, Finance and Operations. He was posted in Hong Kong / Singapore from August, 1987 to February, 1989. In October 1989, he joined Citibank consumer division where he spent 14 years in various departments (Operations, Credit, Finance, Product, Marketing and Business). Globally, this was the time when consumer banking was taking shape. As Business Manager of Cards, he launched several innovative products – Times Card, Women’s Card, Indian Oil Card, Loan-on-phone and Jet Airways Co-Brand. He was responsible for the turnaround of Credit Cards business. In the year 2000, Citibank promoted him as Cards Business Director of Hong Kong. Later in July, 2002, he moved to Citibank Indonesia where he managed Cards Business and Consumer Finance. For a brief period in 2002, he worked in South Korea as part of a team looking at inorganic opportunities.

CEO Compensation
  • Murali's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Murali's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the DCB Bank management team in years:

2.1
Average Tenure
52.5
Average Age
  • The tenure for the DCB Bank management team is about average.
Management Team

Murali Natrajan

TITLE
MD, CEO & Non-Independent Executive Director
COMPENSATION
₹49M
AGE
56
TENURE
10.1 yrs

Bharat Sampat

TITLE
President & CFO
AGE
57
TENURE
10.7 yrs

R. Venkattesh

TITLE
President and Head of Operations
AGE
50

Abhijit Shah

TITLE
Chief Technology Officer

Gaurav Mehta

TITLE
Head of Marketing
AGE
45
TENURE
2 yrs

Aditya Prasad

TITLE
Chief Compliance Officer
TENURE
0.5 yrs

Praveen Kutty

TITLE
President and Head of Retail & SME Banking
AGE
51

Sridhar Seshadri

TITLE
Executive VP & Chief Risk Officer
AGE
56

Abhijit Bose

TITLE
Chief Credit Officer
AGE
54
TENURE
2.1 yrs

Sukesh Bhowal

TITLE
Head of Mortgages & Gold Loans
COMPENSATION
₹8M
AGE
46
Board of Directors Tenure

Average tenure and age of the DCB Bank board of directors in years:

6.6
Average Tenure
59.5
Average Age
  • The tenure for the DCB Bank board of directors is about average.
Board of Directors

Nasser Munjee

TITLE
Non-Executive Part-time Chairman of the Board
COMPENSATION
₹2M
AGE
66
TENURE
13.8 yrs

Murali Natrajan

TITLE
MD, CEO & Non-Independent Executive Director
COMPENSATION
₹49M
AGE
56
TENURE
10.1 yrs

Amin Manekia

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹2M
AGE
57
TENURE
7.3 yrs

Imran Contractor

TITLE
Independent Non-Executive Director
COMPENSATION
₹1M
AGE
57
TENURE
6.6 yrs

Srinivasan Sridhar

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
67
TENURE
6.6 yrs

Chakrapany Narasimhan

TITLE
Independent Non-Executive Director
COMPENSATION
₹2M
AGE
67
TENURE
6.6 yrs

Rupa Singh

TITLE
Non-Executive Independent Director
COMPENSATION
₹2M
AGE
62
TENURE
4.3 yrs

Ashok Barat

TITLE
Independent Non-Executive Director
COMPENSATION
₹860K
AGE
62
TENURE
1.2 yrs

Altaf Jiwani

TITLE
Non-Executive Independent Director
COMPENSATION
₹970K
AGE
51
TENURE
7.3 yrs

Jamal Pradhan

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹570K
AGE
50
TENURE
6.3 yrs
Who owns this company?
Recent Insider Trading
  • DCB Bank insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
08. May 19 Sell Praveen Kutty Individual 06. May 19 06. May 19 -29,000 ₹215.95 ₹-6,262,691
30. Apr 19 Sell Jayaraman Vishwanath Individual 26. Apr 19 26. Apr 19 -25,000 ₹212.16 ₹-5,303,896
01. Apr 19 Sell Durga Rath Individual 27. Mar 19 27. Mar 19 -20,000 ₹203.88 ₹-4,077,599
25. Mar 19 Sell Shankershan Vasisth Individual 14. Mar 19 15. Mar 19 -6,500 ₹202.02 ₹-1,313,150
12. Mar 19 Sell Ajay Mathur Individual 07. Mar 19 11. Mar 19 -35,000 ₹197.79 ₹-6,922,638
12. Mar 19 Sell Praveen Kutty Individual 08. Mar 19 08. Mar 19 -58,000 ₹195.36 ₹-11,331,007
11. Mar 19 Sell Shankershan Vasisth Individual 06. Mar 19 11. Mar 19 -8,500 ₹198.31 ₹-1,685,625
11. Mar 19 Sell Ajay Ahluwalia Individual 07. Mar 19 11. Mar 19 -9,000 ₹198.85 ₹-1,789,650
11. Mar 19 Sell Jayaraman Vishwanath Individual 08. Mar 19 08. Mar 19 -85,000 ₹194.77 ₹-16,555,499
08. Mar 19 Sell Jayaraman Vishwanath Individual 06. Mar 19 07. Mar 19 -75,000 ₹197.54 ₹-14,815,669
06. Mar 19 Sell R. Venkattesh Individual 05. Mar 19 05. Mar 19 -50,000 ₹191.43 ₹-9,571,485
01. Mar 19 Sell Praveen Kutty Individual 27. Feb 19 27. Feb 19 -58,000 ₹181.02 ₹-10,498,913
28. Dec 18 Sell Pradeep Kumar Individual 18. Dec 18 18. Dec 18 -10,900 ₹158.70 ₹-1,729,830
04. Sep 18 Sell Praveen Kutty Individual 03. Sep 18 03. Sep 18 -40,000 ₹175.90 ₹-7,036,200
27. Aug 18 Sell Bharat Sampat Individual 23. Aug 18 23. Aug 18 -50,500 ₹173.98 ₹-8,785,747
24. Aug 18 Sell Ajay Mathur Individual 23. Aug 18 23. Aug 18 -2,500 ₹174.00 ₹-435,000
08. Aug 18 Sell Hamsaz Vasunia Individual 03. Aug 18 03. Aug 18 -12,000 ₹163.02 ₹-1,956,197
01. Aug 18 Sell Ajay Mathur Individual 30. Jul 18 30. Jul 18 -5,000 ₹169.25 ₹-846,250
25. Jun 18 Sell Ajay Mathur Individual 22. Jun 18 22. Jun 18 -7,000 ₹175.25 ₹-1,226,750
X
Management checks
We assess DCB Bank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. DCB Bank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Kind Of Shareholders Own DCB Bank Limited (NSE:DCBBANK)?

With a market capitalization of ₹66b, DCB Bank is a decent size, so it is probably on the radar of institutional investors. … View our latest analysis for DCB Bank NSEI:DCBBANK Ownership Summary, May 10th 2019 What Does The Institutional Ownership Tell Us About DCB Bank? … We can see that DCB Bank does have institutional investors; and they hold 47% of the stock.

Simply Wall St -

Does DCB Bank Limited's (NSE:DCBBANK) P/E Ratio Signal A Buying Opportunity?

We'll show how you can use DCB Bank Limited's (NSE:DCBBANK) P/E ratio to inform your assessment of the investment opportunity. … DCB Bank has a P/E ratio of 20.45, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is DCB Bank Limited's (NSE:DCBBANK) CEO Paid Enough Relative To Peers?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Murali Natrajan's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that DCB Bank Limited has a market cap of ₹63b, and is paying total annual CEO compensation of ₹60m.

Simply Wall St -

Need To Know: DCB Bank Limited (NSE:DCBBANK) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in DCB Bank Limited (NSE:DCBBANK). … As a general rule we consider it to be discouraging when insiders are selling below the current price. … It's not particularly great to see insiders were selling shares around current prices

Simply Wall St -

What Kind Of Investor Owns Most Of DCB Bank Limited (NSE:DCBBANK)?

Generally speaking, as a company grows, institutions will increase their ownership. … DCB Bank is a smaller company with a market capitalization of ₹57b, so it may still be flying under the radar of many institutional investors. … institutions own shares in the company.

Simply Wall St -

What Makes DCB Bank Limited (NSE:DCBBANK) A Hard Investment?

As a small-cap bank stock with a market capitalisation of ₹56b, DCB Bank Limited’s (NSE:DCBBANK) risk and profitability are largely determined by the underlying economic growth of the IN regions in which it operates. … Since a bank profits from reinvesting its clients’ deposits in the form of loans, negative economic growth may lower deposit levels and demand for loan, adversely impacting its cash flow. … Low levels of leverage coupled with sufficient liquidity may place DCB Bank in a safe position in the face of adverse headwinds.

Simply Wall St -

Do You Like DCB Bank Limited (NSE:DCBBANK) At This P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at DCB Bank Limited's (NSE:DCBBANK) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Did DCB Bank Limited (NSE:DCBBANK) Insiders Sell Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in DCB Bank Limited (NSE:DCBBANK). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … We generally tread carefully if insiders have been selling on market, even if they sold slightly above the current price.

Simply Wall St -

DCB Bank Limited (NSE:DCBBANK): What Does The Future Look Like?

In September 2018, DCB Bank Limited (NSE:DCBBANK) announced its earnings update. … the consensus outlook from analysts appear fairly confident, … as a 37% increase in profits is expected in the upcoming year,

Simply Wall St -

Why These Fundamentals Make DCB Bank Limited’s (NSE:DCBBANK) More Attractive

As a small-cap finance stock with a market capitalisation of ₹48.0b, the risk and profitability of DCB Bank Limited (NSE:DCBBANK) are largely tied to the underlying economic growth of the region it operates in IN. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels. … Low levels of leverage coupled with sufficient liquidity may place DCB Bank in a safe position in the face of adverse headwinds.

Simply Wall St -

Company Info

Description

DCB Bank Limited provides various banking and financial products and services in India. It operates through Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations segments. The company offers deposit products, such as current and savings accounts, fixed deposits, term deposits, FCNR deposits, and NRE recurring deposits, as well as portfolio investment schemes; and personal, smart credit, home, gold, car, business and micro business, commercial vehicle, working capital, term, farmer, microfinance, and warehouse construction loans, as well as trade finance and warehouse receipt funding products. It also provides debit, travel, gift, cash, and prepaid cards; life, health, car/motor, travel, home, and group personal accident insurance products; investment products comprising mutual funds, and demat and smart trade accounts, as well as mobile, Internet, and phone banking services. The company serves customers in various segments, including retail, micro-SME, SME, mid-corporate, agriculture, commodities, government, and public sectors, as well as Indian banks, co-operative banks, and non-banking finance companies. As of March 31, 2018, it operated through a network of 318 branches and 533 ATMs in 19 states and 3 union territories. The company was formerly known as Development Credit Bank Limited and changed its name to DCB Bank Limited in October 2013. DCB Bank Limited was incorporated in 1995 and is based in Mumbai, India.

Details
Name: DCB Bank Limited
DCBBANK
Exchange: NSEI
Founded: 1995
₹71,386,437,314
309,702,548
Website: http://www.dcbbank.com
Address: DCB Bank Limited
Tower A,
6th Floor,
Mumbai,
Maharashtra, 400013,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI DCBBANK Equity Shares National Stock Exchange of India IN INR 27. Oct 2006
BSE 532772 Equity Shares Mumbai Stock Exchange IN INR 27. Oct 2006
Number of employees
Current staff
Staff numbers
6,084
DCB Bank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 12:51
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.