Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
BOM:511473'
s PB Ratio Range Over the Past 10 Years
Min: 0.36 Med: 1.47 Max: 2.77
Current: 1.48
During the past 13 years, Indbank Merchant Banking Services's highest PB Ratio was 2.77. The lowest was 0.36. And the median was 1.47.
BOM:511473's PB Ratio is ranked worse than 54.5% of 778
companies
in the Capital Markets industry
Industry Median: 1.335
vs BOM:511473: 1.48
During the past 12 months, Indbank Merchant Banking Services's average Book Value Per Share Growth Rate was 7.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 9.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 9.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.00% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Indbank Merchant Banking Services was 98.30% per year. The lowest was -13.80% per year. And the median was 6.40% per year.
Back to Basics: PB Ratio
Indbank Merchant Banking Services (BOM:511473) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Indbank Merchant Banking Services PB Ratio Related Terms
Indbank Merchant Banking Services PB Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Capital Markets subindustry, Indbank Merchant Banking Services's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Indbank Merchant Banking Services PB Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Indbank Merchant Banking Services's PB Ratio distribution charts can be found below:
* The bar in red indicates where Indbank Merchant Banking Services's PB Ratio falls into.
Indbank Merchant Banking Services PB Ratio Calculation
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Indbank Merchant Banking Services (BOM:511473) has a PB Ratio of 1.47 as of Jul. 22, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Indbank Merchant Banking Services and its competitors. This is near median its historical median of 1.47. Over the past decade, Indbank Merchant Banking Services' PB Ratio has ranged from 0.36 to 2.77. According to the industry distribution chart, Indbank Merchant Banking Services ranks #424 out of 778 companies in the Capital Markets industry, placing it in the top 54.5%.
Is Indbank Merchant Banking Services' PB Ratio too high?
Indbank Merchant Banking Services' current PB Ratio of 1.47 is near median its 10-year median of 1.47. Over the past 10 years, this metric has ranged from a low of 0.36 to a high of 2.77. The Capital Markets industry median PB Ratio is 1.34. Indbank Merchant Banking Services' value of 1.47 is 10.1% above this industry median. Based on the distribution chart, Indbank Merchant Banking Services ranks #424 out of 778 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Indbank Merchant Banking Services has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Indbank Merchant Banking Services' PB Ratio compare to MS and GS?
According to the Capital Markets industry distribution chart, Indbank Merchant Banking Services ranks #424 out of 778 companies for PB Ratio. This places Indbank Merchant Banking Services in the lower half of its industry. The industry median PB Ratio is 1.34. Indbank Merchant Banking Services' value of 1.47 is 10.1% above this benchmark. Historically, Indbank Merchant Banking Services' own PB Ratio has ranged from 0.36 to 2.77 over the past decade. While the company's 10-year median is 1.47 vs. the industry median of 1.34, Indbank Merchant Banking Services has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Capital Markets company?
The median PB Ratio among Capital Markets companies is 1.34, based on 778 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Indbank Merchant Banking Services's current PB Ratio of 1.47 is 10.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Indbank Merchant Banking Services and its competitors. For the Capital Markets industry, the median PB Ratio is 1.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Indbank Merchant Banking Services's current PB Ratio is 1.47, which is near median its own 10-year median of 1.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Indbank Merchant Banking Services stock overvalued right now?
Based on GuruFocus' analysis, Indbank Merchant Banking Services (BOM:511473) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹41.69, compared to a current price of ₹32.72 — trading 21.5% below its estimated fair value. The current PB Ratio is 1.47, which is near median its 10-year median of 1.47 and 10.1% above the Capital Markets industry median of 1.34. Indbank Merchant Banking Services' overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Indbank Merchant Banking Services (BOM:511473), the current PB Ratio is 1.47 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Indbank Merchant Banking Services (BOM:511473) Overvalued in 2026?
Based on GuruFocus' analysis, Indbank Merchant Banking Services stock appears to be undervalued.
The current stock price of ₹32.72 is trading 21.5% below its estimated GF Value™ of ₹41.69.
GuruFocus considers Indbank Merchant Banking Services to be Modestly Undervalued.
Key valuation signals for BOM:511473:
PB Ratio: 1.47 (near median its 10-year median of 1.47)
GF Value™: ₹41.69 vs. price of ₹32.72 (21.5% below fair value)
Industry Position: 10.1% above the Capital Markets median (#424 of 778)
No single metric tells the full story. See the BOM:511473 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Indbank Merchant Banking Services Business Description
Indbank Merchant Banking Services Ltd is an India based company engaged in merchant banking activities. It is involved in providing fee-based services which include operations like merchant banking, stock broking, depository participant services, distribution of financial products and allied activities. The company carries its operations in India and generates the majority of the revenue from the stock broking membership operations.
79GF Score
Get the complete analysis for BOM:511473
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BOM:511473 has been successfully added to your 
