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Dhanlaxmi Bank Limited (532180) Fair Value & Analysis

Financial · IN · Market cap ₹3.1B

DB Dhanlaxmi Bank Limited 532180 · BSE
Price₹32.31
Fair Value₹39.51
Upside+22.3%
Quality29/100
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Mixed Growth
Solidly profitable · 12.0% net margin
Low debt
Narrow moat 39/100
Evidence: High Range ₹29.63 – ₹49.39 Share as image

Fair value as of: Aug 18, 2026

From 4 valuation models · updated yesterday

Share price −4.9% over the past month.

Below-average quality, screening 22% undervalued on our models.

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What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from ₹29.63 (bear) to ₹49.39 (bull), base ₹39.51. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 29/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹45.78 ₹8.75 Fair Value ₹39.51 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range ₹8.75 – ₹45.78 · fair‑value band ₹29.63 – ₹49.39 · the ₹32.31 price screens below the ₹39.51 fair value. Dashed = 300-day average. As of Aug 18, 2026.

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Analysis

Dhanlaxmi Bank Limited (532180) currently trades at ₹32.31, while our model-based Fair Value estimate is ₹39.51, implying the stock looks roughly 22.3% undervalued today. The Quality Score stands at 29/100 (below-average quality), in the Financial sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Dhanlaxmi Bank Limited generated revenue of ₹3.7B at a net margin of 12.0%. Revenue declined 8.8% year over year. It earns a return on equity of 5.3%. The stock trades on a trailing P/E of 7.0 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹29.63 (bear case) to ₹49.39 (bull case); at ₹32.31, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 12% below its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial peers we cover trades at -6% fair-value upside, at 22%, 532180 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
P/E Multiple ₹25.68 ₹34.24 ₹42.80 63
Residual Income ₹41.36 ₹41.36 ₹38.30 61
P/B Multiple ₹33.58 ₹44.78 ₹55.97 55
All 4 models by family
Multiples
P/E Multiple ₹25.68 ₹34.24 ₹42.80 63
P/B Multiple ₹33.58 ₹44.78 ₹55.97 55
Asset-Based
NCAV (Graham) ₹27.57 ₹36.95 ₹55.15 50
Economic Profit
Residual Income ₹41.36 ₹41.36 ₹38.30 61

Widest divergence: Economic Profit (₹41.36) versus Multiples (₹34.24). Highest evidence: P/E Multiple (63).

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Key figures & financial health

Revenue (TTM) ₹3.7B
Revenue growth (YoY) -8.8%
Net margin 12.0%
Return on equity 5.3%
P/E ratio 7.0 as of Aug 18, 2026
Operating margin 12.0%
More key figures
EPS (TTM) ₹1.73
EPS growth (YoY) -36.8%

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 28 · Market factors (momentum, volatility) 61

Profitability 23
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 65
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Dhanlaxmi Bank Limited provides various banking and financial services in India. It operates through Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business Operations segments.

Full company description

Dhanlaxmi Bank Limited provides various banking and financial services in India. It operates through Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business Operations segments. The company offers deposit products, such as savings and current accounts, and term deposits; loans, including property, car, commercial, personal, education, and business loans, as well as loans against securities; and foreign exchange services comprising foreign currency cash, cheque deposits, foreign currency demand drafts, remittances, and foreign exchange cards. It also provides export and import services; credit products comprising industrial and trade advance, import export assistance, and agricultural assistance; corporate salary accounts; and cash management services, as well as life, health, and car insurance products. In addition, the company offers non-resident Indians (NRI) banking services, such as non-residential external accounts, non-resident ordinary accounts, recurring and term deposits, foreign currency non-resident fixed deposits, and resident foreign currency accounts, as well as money transfer services and NRI property loans; and micro and agricultural banking, and financial planning services. Further, it provides SME banking services, including working capital facilities, trade facilities, and capacity expansion services; credit, debit, and gift cards; and investment, depository, and online banking services, as well as locker facilities. As of March 31, 2020, it had 247 branches and 254 ATMs across 14 States and 1 Union Territory. The company was founded in 1927 and is headquartered in Thrissur, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2016 – FY2025 · reported fiscal years

Dhanlaxmi Bank Limited reported revenue of ₹4.9B in FY2020 versus ₹1.8B in FY2016, a compound +27.4%/yr. Reported net income was ₹666M in FY2025, compounding +15.7%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2020)
₹4.9B
Latest YoY
+21.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+33.0%
Avg. growth/yr (6Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.1%
Revenue +27.4%/yr
FY16 ₹1.8B
FY17 ₹3.6B
FY18 ₹4.5B
FY19 ₹4.0B
FY20 ₹4.9B
Net income +15.7%/yr
FY21 ₹372M
FY22 ₹359M
FY23 ₹494M
FY24 ₹578M
FY25 ₹666M

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Cite: Fair Value Calculator (2026). "Dhanlaxmi Bank Limited Fair Value". https://www.fairvalue-calculator.com/stock/532180

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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10 more Money Center Banks stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

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Nirlon Limited 500307 ₹638.10 ₹499.10 -22%
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Frequently asked questions

Is Dhanlaxmi Bank Limited (532180) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of ₹39.51 versus a price of ₹32.31, about +22% (undervalued).
What is the fair value of 532180?
Our model-based fair value for Dhanlaxmi Bank Limited is ₹39.51 (as of Aug 18, 2026), built from audited fundamentals. The current price is ₹32.31.
What is the quality score of 532180?
Dhanlaxmi Bank Limited has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Dhanlaxmi Bank Limited (532180)?
Dhanlaxmi Bank Limited reported trailing-twelve-month revenue of about ₹3.7B (latest available figure, as of Aug 18, 2026).
What is the net profit margin of 532180?
The net profit margin of Dhanlaxmi Bank Limited is about 12.0%, meaning it keeps roughly 12.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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