Reported Earnings • Apr 28
Full year 2026 earnings released: EPS: ₹1.89 (vs ₹2.04 in FY 2025) Full year 2026 results: EPS: ₹1.89. Revenue: ₹237.1b (up 14% from FY 2025). Net income: ₹16.1b (up 8.1% from FY 2025). Profit margin: 6.8% (down from 7.2% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Banks industry in India. Duyuru • Apr 26
IDFC First Bank Limited Proposes Dividend IDFC First Bank Limited announced the Board of Directors at its meeting held on April 25, 2026, proposed a dividend of INR 0.25 per share, subject To Approve the members at the ensuing Annual General Meeting. Effect of the
proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratio as at March 31, 2026. Duyuru • Mar 31
GMR Energy Limited acquired an additional 2.37% stake in GMR Kamalanga Energy Limited from IDFC First Bank Limited (BSE:539437) for INR 600 million. GMR Energy Limited acquired an additional 2.37% stake in GMR Kamalanga Energy Limited from IDFC First Bank Limited (BSE:539437) for INR 600 million on March 30, 2026. A cash consideration of INR 600 million will be paid by GMR Energy Limited. As part of consideration, INR 600 million is paid towards common equity of GMR Kamalanga Energy Limited.
For the period ending March 31, 2025, GMR Kamalanga Energy Limited reported total revenue of INR 30.17 billion.
GMR Energy Limited completed the acquisition of an additional 2.37% stake in GMR Kamalanga Energy Limited from IDFC First Bank Limited (BSE:539437) on March 30, 2026. Duyuru • Mar 27
IDFC First Bank Limited to Report Q4, 2026 Results on Apr 25, 2026 IDFC First Bank Limited announced that they will report Q4, 2026 results at 3:30 PM, Indian Standard Time on Apr 25, 2026 Price Target Changed • Mar 13
Price target decreased by 7.3% to ₹83.28 Down from ₹89.83, the current price target is an average from 18 analysts. New target price is 33% above last closing price of ₹62.57. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹2.37 for next year compared to ₹2.04 last year. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹70.04, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Banks industry in India. Total returns to shareholders of 29% over the past three years. Reported Earnings • Feb 01
Third quarter 2026 earnings released: EPS: ₹0.54 (vs ₹0.46 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.54 (up from ₹0.46 in 3Q 2025). Revenue: ₹62.2b (up 16% from 3Q 2025). Net income: ₹4.79b (up 41% from 3Q 2025). Profit margin: 7.7% (up from 6.4% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Duyuru • Dec 26
IDFC First Bank Limited to Report Q3, 2026 Results on Jan 31, 2026 IDFC First Bank Limited announced that they will report Q3, 2026 results at 3:30 PM, Indian Standard Time on Jan 31, 2026 New Risk • Nov 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.6% net profit margin). Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Oct 19
Second quarter 2026 earnings released: EPS: ₹0.35 (vs ₹0.28 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.35 (up from ₹0.28 in 2Q 2025). Revenue: ₹55.5b (up 16% from 2Q 2025). Net income: ₹3.48b (up 64% from 2Q 2025). Profit margin: 6.3% (up from 4.4% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Duyuru • Sep 26
IDFC First Bank Limited to Report Q2, 2026 Results on Oct 18, 2025 IDFC First Bank Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Oct 18, 2025 Duyuru • Aug 20
IDFC First Bank Limited announced that it has received INR 74.99282328 billion in funding from Currant Sea Investments B.V., Platinum Invictus B 2025 Rsc Limited On August 19, 2025, IDFC First Bank Limited IDFC First Bank Limited closed the transaction. The company issued 43,71,85,666 shares at an issue price of INR 60 for gross proceeds of INR 26,231,139,960. The transaction included participation from Platinum Invictus B 2025 RSC Limited. The transaction has been approved by board of directors of the company. Reported Earnings • Jul 27
First quarter 2026 earnings released: EPS: ₹0.62 (vs ₹0.91 in 1Q 2025) First quarter 2026 results: EPS: ₹0.62 (down from ₹0.91 in 1Q 2025). Revenue: ₹55.0b (up 4.3% from 1Q 2025). Net income: ₹4.53b (down 29% from 1Q 2025). Profit margin: 8.2% (down from 12% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Duyuru • Jul 07
IDFC First Bank Limited, Annual General Meeting, Jul 29, 2025 IDFC First Bank Limited, Annual General Meeting, Jul 29, 2025, at 14:00 Indian Standard Time. Duyuru • Jun 27
IDFC First Bank Limited to Report Q1, 2026 Results on Jul 26, 2025 IDFC First Bank Limited announced that they will report Q1, 2026 results at 12:15 PM, Indian Standard Time on Jul 26, 2025 Duyuru • Apr 28
IDFC First Bank Limited Recommends Dividend for the Financial Year 2024-2025 IDFC First Bank Limited informed that the Board of Directors of the Bank at its meeting held on April 26, 2025 has inter-alia considered and recommended dividend of INR 0.25/- (2.50% of face value) per equity share of face value of 10/- each for the Financial Year 2024-2502, subject to approval of shareholders of the Bank at the ensuing Annual General Meeting of the Bank and such other regulatory/statutory approvals as may be required. Reported Earnings • Apr 27
Full year 2025 earnings released: EPS: ₹2.04 (vs ₹4.30 in FY 2024) Full year 2025 results: EPS: ₹2.04 (down from ₹4.30 in FY 2024). Revenue: ₹207.6b (up 8.7% from FY 2024). Net income: ₹14.9b (down 49% from FY 2024). Profit margin: 7.2% (down from 15% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 18
IDFC First Bank Limited announced that it expects to receive INR 75 billion in funding from RSC Limited, Currant Sea Investments B.V., Abu Dhabi Investment Authority, Warburg Pincus LLC IDFC First Bank Limited announces private placement with Currant Sea Investments B.V; RSC Limited; Abu Dhabi Investment Authority and Warburg Pincus LLC to issue 1,250,000,000 8% compulsorily convertible cumulative preference shares at a price of INR 60 per share for gross proceeds of INR 75,000,000,000 on April 17, 2025. The proposed issues are subject to shareholder and regulatory approvals. Currant Sea Investments B.V. to hold 9.48% and Platinum Invictus B 2025 RSC Limited to hold 5.10% of the Bank on post-money basis on conversion of CCPS. Duyuru • Mar 27
IDFC First Bank Limited to Report Q4, 2025 Results on Apr 26, 2025 IDFC First Bank Limited announced that they will report Q4, 2025 results at 12:15 PM, Indian Standard Time on Apr 26, 2025 Reported Earnings • Mar 17
Third quarter 2025 earnings released: EPS: ₹0.46 (vs ₹1.04 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.46 (down from ₹1.04 in 3Q 2024). Revenue: ₹53.4b (up 3.8% from 3Q 2024). Net income: ₹3.40b (down 54% from 3Q 2024). Profit margin: 6.4% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 29
IDFC First Bank Limited Appoints Nitin Chauhan as the Chief Information Security Officer The Board of Directors of IDFC First Bank Limited has appointed Mr. Nitin Chauhan as the Chief Information Security Officer (within the category of Senior Management) of the Bank. Mr. Chauhan has assumed his role effective January 28, 2025. Mr. Nitin Chauhan has pursued his MBA in IT & International Business and has an overall experience of 29 years in Technology and over 13 years of experience as a Chief Information Security Officer (CISO) in banking & financial industry. With a strong background in Information Security in the banking sector, he has demonstrated impact through challenging and strategic technology and security leadership roles throughout his career. His expertise spans across cyber security governance, risk and compliance functions, data security, IT controls, auditing, identity & access management, threat modelling, and cyber security operations. His last role was as Chief Information Security Officer at Yes Bank. He has held prominent positions at Yes Bank, Paytm, and other banking & financial institutions, managing technology functions and working as the CISO for these organizations. Appointment for a minimum period of 3 years, where Mr. Chauhan will be in full-time employment with the Bank. Reported Earnings • Jan 27
Third quarter 2025 earnings released: EPS: ₹0.46 (vs ₹1.04 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.46 (down from ₹1.04 in 3Q 2024). Revenue: ₹53.4b (up 3.8% from 3Q 2024). Net income: ₹3.40b (down 54% from 3Q 2024). Profit margin: 6.4% (down from 14% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 27
IDFC First Bank Limited to Report Q3, 2025 Results on Jan 25, 2025 IDFC First Bank Limited announced that they will report Q3, 2025 results at 12:15 PM, Indian Standard Time on Jan 25, 2025 Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sudhir Kapadia was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 27
IDFC First Bank Limited Announces Resignation of Neeraj Naidu as Chief Information Security Officer IDFC First Bank Limited announced that Mr. Neeraj Naidu has tendered his resignation as the Chief Information Security Officer of the Bank vide his resignation letter dated November 25, 2024, and accordingly he ceases to be the SMP of the Bank. Reason for change viz. resignation: To explore new opportunities. Date of cessation is November 25, 2024. Price Target Changed • Oct 28
Price target decreased by 11% to ₹74.33 Down from ₹83.89, the current price target is an average from 18 analysts. New target price is 11% above last closing price of ₹67.13. Stock is down 19% over the past year. The company is forecast to post earnings per share of ₹3.05 for next year compared to ₹4.30 last year. Reported Earnings • Oct 27
Second quarter 2025 earnings released: EPS: ₹0.28 (vs ₹1.12 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.28 (down from ₹1.12 in 2Q 2024). Revenue: ₹47.8b (down 1.0% from 2Q 2024). Net income: ₹2.12b (down 72% from 2Q 2024). Profit margin: 4.4% (down from 16% in 2Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 26
IDFC First Bank Limited to Report Q2, 2025 Results on Oct 26, 2024 IDFC First Bank Limited announced that they will report Q2, 2025 results at 3:30 PM, Indian Standard Time on Oct 26, 2024 Duyuru • Sep 10
IDFC First Bank Limited Announces Resignation of Jaimini Bhagwati as Non-Executive Non-Independent Director IDFC First Bank Limited received letter dated September 09, 2024 from Dr. Jaimini Bhagwati, whereby he has tendered his resignation as Non-Executive Non-Independent Director of the Bank, with effect from the close of business hours on, September 09, 2024. Duyuru • Aug 31
IDFC First Bank Limited Appoints Pradeep Natarajan as A Director of the Bank IDFC FIRST Bank Limited announced that at its AGM held on August 30, 2024, the shareholders approved the appointment of Mr. Pradeep Natarajan (DIN: 10499651) as a Director of the Bank. Duyuru • Aug 29
IDFC First Bank Limited Announces Cessation of Mahendra N. Shah as Non-Executive Non-Independent Director IDFC First Bank Limited announced that Mr. Mahendra N. Shah, Non-Executive Non-Independent Director of the Bank has ceased to be a member of the Board of Directors of the Bank, with effect from the close of business hours on August 29, 2024, upon completion of his term. Duyuru • Aug 07
IDFC First Bank Limited, Annual General Meeting, Aug 30, 2024 IDFC First Bank Limited, Annual General Meeting, Aug 30, 2024, at 16:00 Indian Standard Time. Reported Earnings • Jul 28
First quarter 2025 earnings released: EPS: ₹0.91 (vs ₹1.10 in 1Q 2024) First quarter 2025 results: EPS: ₹0.91 (down from ₹1.10 in 1Q 2024). Revenue: ₹52.8b (up 14% from 1Q 2024). Net income: ₹6.43b (down 12% from 1Q 2024). Profit margin: 12% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 2.3% decline forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 09
IDFC First Bank Limited to Report Q1, 2025 Results on Jul 27, 2024 IDFC First Bank Limited announced that they will report Q1, 2025 results at 3:30 PM, Indian Standard Time on Jul 27, 2024 Duyuru • May 30
IDFC First Bank Limited announced that it expects to receive INR 31.999998998 billion in funding from HDFC Life Insurance Company Limited, Aditya Birla Sun Life Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited, SBI General Insurance Company Limited, ICICI Lombard General Insurance Company Limited, Life Insurance Corporation of India IDFC First Bank Limited announced a private placement of 396,874,600 shares equity shares of face value of INR 10 each fully paid-up, on a preferential basis, at a price of INR 80.63 per equity share, for gross proceeds INR 31,999,998,998 on May 30, 2024. The transaction includes participation from existing and new investors, Life Insurance Corporation of India, HDFC Life Insurance Company Limited, Aditya Birla Sun Life Insurance Company Limited, Bajaj Allianz Life Insurance Company Limited, ICICI Lombard General Insurance Company Limited and SBI General Insurance Company Limited. The transaction was approved by board of directors and subject to approval from shareholders. 47% of the proposed issue is going to be subscribed by Life Insurance Company (LIC) of India, Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: ₹4.30 (vs ₹3.99 in FY 2023) Full year 2024 results: EPS: ₹4.30 (up from ₹3.99 in FY 2023). Revenue: ₹200.0b (up 37% from FY 2023). Net income: ₹29.4b (up 18% from FY 2023). Profit margin: 15% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 28
Warburg Pincus Reportedly to Sell Entire 2.3% Stake in IDFC First Bank via Block Deals Private equity major Warburg Pincus LLC is likely to exit IDFC First Bank Limited (BSE:539437) by selling its entire 2.3% stake in the lender through block deals on March 28, 2024, according to news reports. Cloverdell Investment, an affiliate of Warburg Pincus, is likely to offload 159 million shares and has set a floor price of INR 75 apiece. It is looking at raking in INR 11,914.0 million through the sale, reports said. On March 27, 2024, shares of IDFC First Bank closed 0.3% higher on the BSE at INR 77.81. Duyuru • Mar 27
IDFC First Bank Limited to Report Q4, 2024 Results on Apr 27, 2024 IDFC First Bank Limited announced that they will report Q4, 2024 results at 3:30 PM, Indian Standard Time on Apr 27, 2024 Reported Earnings • Jan 21
Third quarter 2024 earnings released: EPS: ₹1.04 (vs ₹0.99 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.04 (up from ₹0.99 in 3Q 2023). Revenue: ₹51.5b (up 29% from 3Q 2023). Net income: ₹7.32b (up 19% from 3Q 2023). Profit margin: 14% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 11
IDFC First Bank Limited to Report Q3, 2024 Results on Jan 20, 2024 IDFC First Bank Limited announced that they will report Q3, 2024 results on Jan 20, 2024 Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: ₹1.12 (vs ₹0.91 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.12 (up from ₹0.91 in 2Q 2023). Revenue: ₹48.3b (up 33% from 2Q 2023). Net income: ₹7.47b (up 32% from 2Q 2023). Profit margin: 16% (in line with 2Q 2023). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Duyuru • Oct 13
IDFC First Bank Limited to Report Q2, 2024 Results on Oct 28, 2023 IDFC First Bank Limited announced that they will report Q2, 2024 results on Oct 28, 2023 Price Target Changed • Sep 11
Price target increased by 7.0% to ₹87.23 Up from ₹81.50, the current price target is an average from 13 analysts. New target price is 9.7% below last closing price of ₹96.55. Stock is up 90% over the past year. The company is forecast to post earnings per share of ₹4.85 for next year compared to ₹3.98 last year. Recent Insider Transactions • Aug 31
Insider recently sold ₹31m worth of stock On the 29th of August, Mahendra Shah sold around 340k shares on-market at roughly ₹91.38 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹49m. Insiders have been net sellers, collectively disposing of ₹161m more than they bought in the last 12 months. Recent Insider Transactions • Aug 25
Insider recently sold ₹14m worth of stock On the 21st of August, Mahendra Shah sold around 160k shares on-market at roughly ₹89.55 per share. This transaction amounted to 32% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹49m. Insiders have been net sellers, collectively disposing of ₹99m more than they bought in the last 12 months. Duyuru • Aug 24
IDFC First Bank Limited Announces Resignation of Ajay Sondhi as Non-Executive Non-Independent Director IDFC First Bank Limited announced the resignation of Ajay Sondhi as Non-Executive Non-Independent Director of the Bank, effective from the date of acceptance of his letter by the Board of Directors of the Bank. The Nomination & Remuneration Committee and the Board of Directors of the Bank has taken note of the resignation of Mr. Ajay Sondhi and approved the same with effect from August 23, 2023. Duyuru • Aug 22
IDFC First Bank Limited Appoints Neerav Maniar as the Chief Compliance Officer IDFC First Bank Limited announced that on the basis of recommendation of the Nomination & Remuneration Committee, the Board of Directors of the Bank approved the appointment of Mr. Neerav Maniar as the Chief Compliance Officer of the Bank, forming part of the Senior Management of the Bank. Mr. Neerav Maniar has joined the Bank with effect from August 21, 2023. Appointment for a minimum period of 3 years, where Mr. Maniar will be in full-time employment with the Bank. Mr. Neerav Maniar is a first attempt Chartered Accountant - 1999 and has an overall experience of 24 years with 21 years across various roles in the financial industry. With strong exposure to Compliance in banking industry complemented by sound experience in Operations through process reviews and financial audits, he has demonstrated versatility to quickly transition across different functions such as Compliance Advisory, Transaction Processing and Financial Accounts. In his previous assignment with Axis Bank, Mr. Maniar was serving as the Compliance Group Head for the Retail Banking division. Prior to Axis Bank, he has worked with Citibank N. A for 15 years and his last stint in Citibank was as Compliance Head for Consumer Banking business handling compliance advisory for Retail Loans, Credit Cards, Wealth Management, Retail Liabilities, Payment Products and Non-Resident banking. Mr. Maniar has an excellent understanding of the Indian banking industry and has engaged with varied stakeholders across functions and has deep understanding and expertise of the compliance function. Recent Insider Transactions • Aug 19
Insider recently sold ₹12m worth of stock On the 11th of August, Mahendra Shah sold around 140k shares on-market at roughly ₹88.28 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹49m. Insiders have been net sellers, collectively disposing of ₹85m more than they bought in the last 12 months. Recent Insider Transactions • Aug 12
Insider recently sold ₹49m worth of stock On the 9th of August, Mahendra Shah sold around 560k shares on-market at roughly ₹87.93 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹73m more than they bought in the last 12 months. Recent Insider Transactions • Aug 06
Insider recently sold ₹26m worth of stock On the 1st of August, Mahendra Shah sold around 294k shares on-market at roughly ₹87.81 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹23m more than they bought in the last 12 months. Duyuru • Aug 06
IDFC First Bank Limited, Annual General Meeting, Aug 31, 2023 IDFC First Bank Limited, Annual General Meeting, Aug 31, 2023, at 14:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone Financial Statements of the Bank for the Financial Year ended March 31, 2023, together with the Report of the Board of Directors and the Auditors thereon; to receive, consider and adopt the Audited Consolidated Financial Statements of the Bank for the Financial Year ended March 31, 2023, together with the Report of the Auditors thereon; to re-appoint Mr. Vishal Mahadevia as a Director, who retires by rotation and being eligible, offers himself for re-appointment for the remaining tenure; to re-appoint Mr. Vishal Mahadevia as a Non-Executive Non-Independent Director of the Bank; to approve the appointment of Mr. Madhivanan Balakrishnan as a Director of the Bank; and to consider other matters. Price Target Changed • Jul 31
Price target increased by 10% to ₹78.00 Up from ₹70.80, the current price target is an average from 11 analysts. New target price is 11% below last closing price of ₹87.20. Stock is up 108% over the past year. The company is forecast to post earnings per share of ₹4.94 for next year compared to ₹3.98 last year. Reported Earnings • Jul 30
First quarter 2024 earnings released: EPS: ₹1.10 (vs ₹0.78 in 1Q 2023) First quarter 2024 results: EPS: ₹1.10 (up from ₹0.78 in 1Q 2023). Revenue: ₹46.3b (up 41% from 1Q 2023). Net income: ₹7.32b (up 51% from 1Q 2023). Profit margin: 16% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 04
Price target increased by 7.5% to ₹65.90 Up from ₹61.30, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of ₹64.15. Stock is up 67% over the past year. The company posted earnings per share of ₹3.98 last year. Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: ₹3.98 (vs ₹0.21 in FY 2022) Full year 2023 results: EPS: ₹3.98 (up from ₹0.21 in FY 2022). Revenue: ₹154.4b (up 59% from FY 2022). Net income: ₹24.8b (up ₹23.5b from FY 2022). Profit margin: 16% (up from 1.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 24
Price target increased by 8.1% to ₹59.18 Up from ₹54.73, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of ₹59.30. Stock is up 33% over the past year. The company posted earnings per share of ₹0.21 last year. Reported Earnings • Jan 22
Third quarter 2023 earnings released: EPS: ₹0.99 (vs ₹0.47 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.99 (up from ₹0.47 in 3Q 2022). Revenue: ₹39.9b (up 35% from 3Q 2022). Net income: ₹6.17b (up 113% from 3Q 2022). Profit margin: 16% (up from 9.8% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 30
IDFC First Bank Limited to Report Q3, 2023 Results on Jan 21, 2023 IDFC First Bank Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Jan 21, 2023 Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹53.00, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 13x in the Banks industry in India. Total returns to shareholders of 18% over the past three years. Price Target Changed • Oct 28
Price target increased to ₹53.27 Up from ₹49.18, the current price target is an average from 11 analysts. New target price is 6.2% below last closing price of ₹56.80. Stock is up 15% over the past year. The company posted earnings per share of ₹0.21 last year. Reported Earnings • Oct 24
Second quarter 2023 earnings released: EPS: ₹0.91 (vs ₹0.18 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.91 (up from ₹0.18 in 2Q 2022). Revenue: ₹36.4b (up 44% from 2Q 2022). Net income: ₹5.67b (up 411% from 2Q 2022). Profit margin: 16% (up from 4.4% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 17
Price target increased to ₹49.18 Up from ₹45.50, the current price target is an average from 10 analysts. New target price is 12% below last closing price of ₹55.75. Stock is up 9.4% over the past year. The company posted earnings per share of ₹0.21 last year. Recent Insider Transactions • Sep 29
Insider recently bought ₹2.4m worth of stock On the 26th of September, Dhaval Patel bought around 51k shares on-market at roughly ₹48.00 per share. This transaction increased Dhaval Patel's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹2.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 22
Insider recently bought ₹1.1m worth of stock On the 16th of September, Dhaval Patel bought around 22k shares on-market at roughly ₹52.00 per share. This transaction increased Dhaval Patel's direct individual holding by 4x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹120k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₹43.40, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 13x in the Banks industry in India. Total loss to shareholders of 2.1% over the past three years. Reported Earnings • Jul 14
Full year 2022 earnings released: EPS: ₹0.21 (vs ₹0.88 in FY 2021) Full year 2022 results: EPS: ₹0.21 (down from ₹0.88 in FY 2021). Revenue: ₹97.7b (up 30% from FY 2021). Net income: ₹1.32b (down 73% from FY 2021). Profit margin: 1.4% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Net interest margin (NIM): 5.96% (up from 5.03% in FY 2021). Non-performing loans: 3.79% (down from 4.28% in FY 2021). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 10
Price target decreased to ₹46.44 Down from ₹50.82, the current price target is provided by 1 analyst. New target price is 36% above last closing price of ₹34.05. Stock is down 43% over the past year. The company posted earnings per share of ₹0.21 last year. Reported Earnings • May 01
Full year 2022 earnings released: EPS: ₹0.21 (vs ₹0.88 in FY 2021) Full year 2022 results: EPS: ₹0.21 (down from ₹0.88 in FY 2021). Revenue: ₹97.7b (up 30% from FY 2021). Net income: ₹1.32b (down 73% from FY 2021). Profit margin: 1.4% (down from 6.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.47 (up from ₹0.24 in 3Q 2021). Revenue: ₹29.6b (up 38% from 3Q 2021). Net income: ₹2.90b (up 112% from 3Q 2021). Profit margin: 9.8% (up from 6.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 15
Price target increased to ₹50.80 Up from ₹46.73, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of ₹51.20. Stock is up 52% over the past year. The company posted earnings per share of ₹0.88 last year. Recent Insider Transactions • Nov 03
Insider recently sold ₹1.0m worth of stock On the 2nd of November, Mayur Rathod sold around 20k shares on-market at roughly ₹51.31 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹3.1m. Insiders have been net sellers, collectively disposing of ₹104m more than they bought in the last 12 months. Reported Earnings • Nov 01
Second quarter 2022 earnings released: EPS ₹0.18 (vs ₹0.19 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: ₹25.3b (up 47% from 2Q 2021). Net income: ₹1.11b (up 1.8% from 2Q 2021). Profit margin: 4.4% (down from 6.3% in 2Q 2021). The decrease in margin was driven by higher expenses. Recent Insider Transactions • Aug 27
Insider recently sold ₹3.0m worth of stock On the 24th of August, Anshuman Bose sold around 70k shares on-market at roughly ₹42.70 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹15m. Insiders have been net sellers, collectively disposing of ₹100m more than they bought in the last 12 months. Reported Earnings • Aug 02
First quarter 2022 earnings released: ₹1.01 loss per share (vs ₹0.20 profit in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2022 results: Revenue: ₹11.6b (down 20% from 1Q 2021). Net loss: ₹6.21b (down ₹7.21b from profit in 1Q 2021). Executive Departure • Jul 23
Non-Executive Non-Independent Director Sunil Kakar has left the company On the 22nd of July, Sunil Kakar's tenure as Non-Executive Non-Independent Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Sunil's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 2.58 years. Price Target Changed • Jun 08
Price target increased to ₹48.50 Up from ₹45.20, the current price target is provided by 1 analyst. New target price is 18% below last closing price of ₹59.25. Stock is up 137% over the past year. Recent Insider Transactions • Jun 05
Non-Executive Non-Independent Director recently sold ₹2.9m worth of stock On the 2nd of June, Sunil Kakar sold around 50k shares on-market at roughly ₹58.52 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹18m. Insiders have been net sellers, collectively disposing of ₹78m more than they bought in the last 12 months. Recent Insider Transactions • May 15
Chief Risk Officer recently sold ₹18m worth of stock On the 12th of May, Pankaj Sanklecha sold around 325k shares on-market at roughly ₹55.47 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹62m more than they bought in the last 12 months. Price Target Changed • May 10
Price target increased to ₹41.70 Up from ₹38.25, the current price target is provided by 1 analyst. New target price is 26% below last closing price of ₹56.10. Stock is up 175% over the past year. Reported Earnings • May 10
Full year 2021 earnings released: EPS ₹0.88 (vs ₹5.94 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹75.7b (up 122% from FY 2020). Net income: ₹4.83b (up ₹33.3b from FY 2020). Profit margin: 6.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Price Target Changed • Apr 07
Price target increased to ₹40.00 Up from ₹36.78, the current price target is provided by 1 analyst. New target price is 29% below last closing price of ₹56.20. Stock is up 173% over the past year. Executive Departure • Mar 26
Non-Executive Non-Independent Director has left the company On the 25th of March, Sanjay Kumar's tenure as Non-Executive Non-Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Sanjay's name. A total of 4 executives have left over the last 12 months. Recent Insider Transactions • Feb 22
Insider recently sold ₹4.1m worth of stock On the 15th of February, Mahesh Dholiya sold around 78k shares on-market at roughly ₹52.38 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.8m. Insiders have been net sellers, collectively disposing of ₹981m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 18% share price gain to ₹61.35, the stock is trading at a trailing P/E ratio of 72.2x, up from the previous P/E ratio of 61.3x. This compares to an average P/E of 28x in the Banks industry in India. Total returns to shareholders over the past three years are 21%. Recent Insider Transactions • Feb 13
Chief Compliance Officer recently sold ₹3.8m worth of stock On the 9th of February, Kamalakar Nayak sold around 75k shares on-market at roughly ₹50.55 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹4.8m. Insiders have been net sellers, collectively disposing of ₹977m more than they bought in the last 12 months. Is New 90 Day High Low • Feb 12
New 90-day high: ₹52.55 The company is up 59% from its price of ₹33.05 on 13 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 25% over the same period. Price Target Changed • Feb 09
Price target raised to ₹36.78 Up from ₹33.40, the current price target is provided by 1 analyst. The new target price is 26% below the current share price of ₹50.00. As of last close, the stock is up 20% over the past year. 
