Buy DCB Bank; target of Rs 105: Firstcall Research

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26 Aug, 2025 12:21

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Firstcall Research report on DCB Bank“DCB Bank Ltd is a modern emerging new generation private sector bank with 142 branches across 17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers. DCB is the only co-operative bank in India to have been converted into a private sector commercial bank in 1995. Strong presence in Andhra Pradesh, Gujarat and Maharashtra resulting in sticky customer deposits from traditional customers. New branch expansions in Madhya Pradesh, Odisha, Punjab, Rajasthan. DCB Banks business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Microfinance Institutions (MFI), Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). DCB Bank has approximately 500,000 customers. This Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds over 18% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies.” “At the current market price of Rs. 91.20, the stock P/E ratio is at 12.83 x FY15E and 11.14 x FY16E respectively. Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.7.11 and Rs.8.18 respectively. Net Income and PAT or Net Profit of the company is expected to grow at a CAGR of 24% and 26% over 2013 to 2016E respectively. Price to Book Value of the stock is expected to be at 1.79 x and 1.54 x respectively for FY15E and FY16E. We recommend ‘BUY’ in this particular scrip with a target price of Rs. 105.00 for Medium to Long term investment,” says Firstcall Research report.   

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