Lakshmi Vilas Bank (Delisted) share price

BSE: 534690

LAKSHMI VILAS BANK LTD · Face value ₹10

Last traded ₹7.65 on 25 Nov 2020

Delisted on 18 Dec 2020.

Last announcements

The company's own last announcements before its shares stopped trading, routine notices left out.

Dec 2020
- 16 Dec · Delisting
  Members of the Exchange are hereby informed that the trading in the equity shares of Lakshmi Vilas Bank Limited shall be withdrawn (delisted) w.e.f. December 18, 2020 pursuant to gazette notification dated November 25, 2020 issued by Department of Financial Services, Ministry of Finance.
Nov 2020

Results for the quarter to Sep 2020

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

Total income: ₹495 Cr−25.7% on a year ago · −8.2% on the quarter before
Net profit: −₹397 Cr
Earnings per share: −₹11.79
Net interest income: ₹80 Cr
Profit before provisions: −₹5.66 Cr
Gross bad loans: 24.45%

From interest earned to net profit, ₹ crore

Interest earned420
Interest paid−341
Net interest income80
Other income+74
Operating expenses−160
Before provisions−5.7
Set aside for bad loans−391
Profit before tax−397
Tax0.0
Net profit−397

Lakshmi Vilas Bank results by quarter

Standalone: the listed company alone, without its subsidiaries. Latest quarter to Sep 2020. Results for the quarter to Dec 2020 were due by 14 Feb 2021, 45 days after it ends. Every company's dates are on the results calendar.

Total income and net profit by quarter, ₹ crore

Total income
Net profit
Loss

Net interest income and money set aside for bad loans by quarter, ₹ crore

Net interest income
Set aside for bad loans

₹ crore	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018Q1	Sep 2018	Dec 2018Q3	Mar 2019	Jun 2019Q1	Sep 2019	Dec 2019Q3	Mar 2020	Jun 2020Q1	Sep 2020
Total income	723	759	775	830	879	865	927	903	818	741	788	801	762	740	677	665	586	630	539	495
	654	666	686	698	729	734	770	779	790	703	727	729	701	682	624	607	520	455	443	420
On loans	517	534	558	565	563	554	613	613	591	514	556	563	525	519	467	447	399	345	354	334
On investments	131	131	126	130	159	163	152	164	195	183	169	163	173	161	154	147	111	99	79	71
On balances with the RBI and other banks	0	1	1	3	7	1	5	0	0	1	1	2	3	1	2	12	5	5	4	4
Other interest	5	1	0	0	1	16	0	2	4	4	1	1	1	1	1	2	6	6	6	12
Interest paid	487	494	508	512	538	506	552	546	571	582	597	578	563	542	500	498	394	386	352	341
Net interest income	167	173	178	187	191	228	218	233	220	120	130	151	139	140	124	110	126	69	91	80
Other income	69	93	89	132	150	131	157	124	27	38	61	71	61	57	53	58	65	175	96	74
	128	165	141	160	169	181	176	177	201	228	184	195	225	219	202	208	211	173	187	160
Employee costs	65	84	76	82	91	85	86	–	101	115	97	82	111	111	103	105	105	24	89	77
Other operating expenses	63	81	65	78	78	95	90	–	100	113	87	113	114	107	100	103	106	149	98	82
Profit before provisions	108	100	126	158	171	178	199	179	46	−69	7	28	−25	−21	−26	−40	−20	70	0	−6
Set aside for bad loans	60	27	35	63	48	108	112	187	85	921	162	205	431	479	212	317	315	303	112	391
Exceptional items	–	–	–	–	–	–	–	–	–	–	0	0	0	0	0	0	0	0	0	0
Profit before tax	48	73	91	96	123	70	87	−8	−39	−991	−155	−177	−456	−500	−237	−357	−334	−233	−112	−397
Tax	2	24	30	31	45	18	21	−19	–	−368	−31	−45	−83	−236	0	0	0	−326	0	0
Net profit	46	49	61	65	78	52	66	11	−39	−622	−124	−132	−373	−264	−237	−357	−334	93	−112	−397
Earnings per share	–	–	₹3.38	₹3.61	₹4.37	₹2.74	₹3.45	₹0.55	−₹2.04	−₹24.65	−₹4.84	−₹5.17	−₹14.59	−₹10.02	−₹7.42	−₹10.64	−₹9.93	₹2.76	−₹3.33	−₹11.79
Diluted earnings per share	–	–	₹3.37	₹3.60	₹4.35	₹2.71	₹3.42	₹0.54	−₹2.03	−₹24.52	−₹4.82	−₹5.15	−₹14.54	−₹10.00	−₹7.41	−₹10.63	−₹9.93	₹2.76	−₹3.33	−₹11.79

Earnings per share in rupees, restated for later splits and bonuses. Employee costs and other operating expenses are left blank for the quarter to Sep 2017: the lines stated do not add to the total the filing states, so the split is not given.

Figure	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018Q1	Sep 2018	Dec 2018Q3	Mar 2019	Jun 2019Q1	Sep 2019	Dec 2019Q3	Mar 2020	Jun 2020Q1	Sep 2020
Gross bad loans, ₹ crore	332	391	432	546	549	640	878	1,278	1,427	2,694	2,805	2,965	3,364	3,359	3,557	4,091	4,081	4,233	4,142	4,063
Net bad loans, ₹ crore	144	232	260	376	354	418	654	993	1,060	1,458	1,478	1,560	1,716	1,506	1,539	1,773	1,464	1,388	1,298	947
Gross bad loans, % of loans	–	–	–	–	–	–	–	–	–	–	10.70%	12.30%	13.95%	15.30%	17.30%	21.25%	23.27%	25.39%	–	24.45%
Net bad loans, % of loans	–	–	–	–	–	–	–	–	–	–	6.00%	6.90%	7.64%	7.49%	8.30%	10.47%	9.81%	10.04%	–	7.01%
Bad loans already provided for	56.61%	40.79%	39.75%	31.14%	35.43%	34.64%	25.57%	22.26%	25.69%	45.89%	47.30%	47.38%	48.99%	55.16%	56.72%	56.67%	64.13%	67.22%	68.66%	76.70%
Core equity to risk-weighted loans	–	–	–	–	–	–	–	–	–	–	7.60%	7.70%	5.57%	5.72%	4.46%	5.56%	1.46%	1.12%	–	−4.85%

Per cent, and the bad loans themselves in ₹ crore. A non-performing loan is one the borrower has stopped paying, generally for 90 days.

Segment results by quarter

Standalone, ₹ crore, quarters to Sep 2020.

Retail banking operations
Revenue, ₹ crore
440
439
414
407
315
309
274
263
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Profit, ₹ crore
4
12
−14
−9
−33
−16
−43
−25
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Treasury Operations
Revenue, ₹ crore
156
170
182
160
166
162
133
185
145
116
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Profit, ₹ crore
0
9
8
−5
19
28
27
91
62
28
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Corporate/ Wholesale Banking operations
Revenue, ₹ crore
189
188
163
166
153
150
135
132
118
113
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Profit, ₹ crore
2
5
−21
−12
−13
−21
−14
−7
−19
−11
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Other Banking operations
Revenue, ₹ crore
2
4
3
7
1
4
3
4
2
4
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Profit, ₹ crore
1
1
1
4
−1
2
1
2
0
2
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Capital and other Reserves
Revenue, ₹ crore
0
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20
Profit, ₹ crore
0
Jun 18Sep 18Dec 18Mar 19Jun 19Sep 19Dec 19Mar 20Jun 20Sep 20

₹ crore	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020
Revenue of all businesses	788	801	762	740	677	665	586	630	539	495
Company revenue, as in its results	788	801	762	740	677	665	586	630	539	495
Revenue	440	439	414	407	–	–	315	309	274	263
Revenue growth	–	–	–	–	–	–	−24.0%	−24.1%	–	–
Profit	4	12	−14	−9	–	–	−33	−16	−43	−25
Margin	0.9%	2.7%	−3.4%	−2.2%	–	–	−10.6%	−5.2%	−15.8%	−9.4%
Assets	19,241	17,466	17,757	15,830	–	–	12,707	11,155	10,914	11,341
Liabilities	19,009	17,137	17,607	15,679	–	–	12,157	10,593	11,630	12,214
Revenue	156	170	182	160	166	162	133	185	145	116
Revenue growth	–	–	–	–	6.3%	−4.7%	−27.1%	15.3%	−12.9%	−28.5%
Profit	0	9	8	−5	19	28	27	91	62	28
Profit growth	–	–	–	–	–	210.4%	219.8%	–	232.1%	0.7%
Margin	−0.1%	5.2%	4.6%	−2.8%	11.2%	17.0%	20.1%	49.4%	42.7%	24.0%
Assets	9,920	10,963	9,907	9,094	10,045	10,276	7,130	6,278	6,183	6,027
Liabilities	9,786	10,622	9,708	8,889	10,006	10,255	6,821	5,961	6,589	6,491
Revenue	189	188	163	166	153	150	135	132	118	113
Revenue growth	–	–	–	–	−18.9%	−20.2%	−17.1%	−20.2%	−23.1%	−24.9%
Profit	2	5	−21	−12	−13	−21	−14	−7	−19	−11
Margin	0.9%	2.7%	−12.7%	−7.4%	−8.4%	−13.9%	−10.6%	−5.2%	−15.8%	−9.4%
Assets	7,576	7,118	6,340	5,973	5,350	4,881	4,515	3,733	3,659	3,299
Liabilities	6,975	6,989	6,302	5,927	5,329	4,871	4,320	3,545	3,899	3,553
Revenue	2	4	3	7	1	4	3	4	2	4
Profit	1	1	1	4	−1	2	1	2	0	2
Margin	53.3%	34.6%	34.7%	67.0%	−180.5%	46.0%	35.0%	53.1%	6.9%	56.0%
Assets	0	0	0	0	2,228	0	2,004	3,256	0	3,001
Liabilities	0	0	0	0	689	0	1,917	3,092	0	692
	–	–	–	–	–	–	–	–	–	0
Profit	–	–	–	–	–	–	–	–	–	0
Assets	–	–	–	–	–	–	–	–	–	0
Liabilities	–	–	–	–	–	–	–	–	–	720
Revenue	–	–	–	–	357	350	–	–	–	–
Profit	–	–	–	–	−30	−49	–	–	–	–
Margin	–	–	–	–	−8.4%	−13.9%	–	–	–	–
Assets	–	–	–	–	14,815	14,119	–	–	–	–
Liabilities	–	–	–	–	14,758	14,090	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

8 years at a glance

Standalone, laid out as a bank files them. No figures on this form for the years to Mar 2011 and Mar 2012.

Net interest income, Net profit, ₹ crore

Net interest income
Net profit
Loss

Net interest margin, Return on assets, Gross bad loans, per cent

Lakshmi Vilas Bank business segments, year to Mar 2020

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them. A segment at a loss has no share of profit.

Revenue by segment

₹2,558 CrTotal

Retail banking operations₹1,331 Cr52.0% of total
Treasury operations₹645 Cr25.2% of total
Corporate/ Wholesale Banking operations₹570 Cr22.3% of total
Other banking operations₹12 Cr0.5% of total

Profit by segment

Treasury operations₹162 Cr97.8% of total
Other banking operations₹4 Cr2.2% of total

Segment results by year

Standalone, ₹ crore, years to March.

Retail banking operations
Revenue, ₹ crore
1,700
1,331
Mar 19Mar 20
Profit, ₹ crore
−7
−127
Mar 19Mar 20
Treasury operations
Revenue, ₹ crore
668
645
Mar 19Mar 20
Profit, ₹ crore
13
162
Mar 19Mar 20
Corporate/ Wholesale Banking operations
Revenue, ₹ crore
705
570
Mar 19Mar 20
Profit, ₹ crore
−26
−54
Mar 19Mar 20
Other banking operations
Revenue, ₹ crore
16
12
Mar 19Mar 20
Profit, ₹ crore
8
4
Mar 19Mar 20

₹ crore	Mar 2019	Mar 2020
Revenue of all businesses	3,090	2,558
Company revenue, as in its results	3,090	2,558
Revenue	1,700	1,331
Revenue growth	–	−21.7%
Profit	−7	−127
Margin	−0.4%	−9.5%
Assets	15,830	11,155
Liabilities	15,679	10,593
Revenue	668	645
Revenue growth	–	−3.4%
Profit	13	162
Profit growth	–	1,185.4%
Margin	1.9%	25.1%
Assets	9,094	6,278
Liabilities	8,889	5,961
Revenue	705	570
Revenue growth	–	−19.1%
Profit	−26	−54
Margin	−3.7%	−9.5%
Assets	5,973	3,733
Liabilities	5,927	3,545
Revenue	16	12
Profit	8	4
Margin	50.0%	31.0%
Assets	0	3,256
Liabilities	0	3,092

Profit is before tax and finance costs, the way companies report their segments.

Income

₹ crore, years to March.

₹ crore	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Total income	1,958	2,202	2,499	2,873	3,349	3,388	3,090	2,558
	1,761	1,984	2,215	2,568	2,847	3,042	2,840	2,207
On loans	1,393	1,592	1,709	2,038	2,240	2,331	2,163	1,658
On investments	341	383	480	519	578	693	666	510
On balances with the RBI and other banks	1	4	8	3	12	7	7	24
Other interest	26	6	17	7	17	10	4	15
Interest paid	1,369	1,498	1,688	1,923	2,064	2,251	2,280	1,779
Net interest income	392	486	527	645	783	791	560	428
Other income	197	218	284	305	503	347	250	351
	338	395	445	543	651	782	822	795
Employee costs	158	188	230	275	335	392	402	336
Other operating expenses	180	207	215	267	317	390	421	458
Profit before provisions	251	309	366	407	634	355	−12	−15
Set aside for bad loans	113	269	188	177	254	1,306	1,277	1,147
Exceptional items	–	–	11	–	–	–	0	0
Profit before tax	138	40	188	230	380	−951	−1,289	−1,162
	46	−19	56	50	124	−366	−394	−326
Current tax	–	23	–	–	–	–	–	–
Deferred tax	–	−42	–	–	–	–	–	–
Net profit	92	60	132	180	256	−585	−894	−836
Earnings per share	–	₹6.11	₹9.16	–	₹14.07	−₹28.29	−₹34.66	−₹25.16
Diluted earnings per share	–	–	₹9.15	–	₹13.95	−₹28.11	−₹34.59	−₹25.16

Balance sheet

₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020
Total assets	33,046	24,422
Cash and balances with the RBI	1,654	1,048
With banks and at call	515	792
Loans given	20,103	13,828
Investments	8,430	5,384
Fixed assets	470	463
Other assets	1,874	2,906
Deposits	29,279	21,443
Borrowings	921	756
Other liabilities and provisions	953	993
	1,893	1,230
Share capital	320	337
Reserves	1,573	893

Bad loans and capital

Per cent, and the bad loans themselves in ₹ crore. A non-performing loan is one the borrower has stopped paying, generally for 90 days.

Figure	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Gross bad loans, ₹ crore	460	546	455	391	640	2,694	3,359	4,233
Net bad loans, ₹ crore	284	443	302	232	418	1,458	1,506	1,388
Gross bad loans, % of loans	–	–	–	–	–	–	15.30%	25.39%
Net bad loans, % of loans	–	–	–	–	–	–	7.49%	10.04%
Bad loans already provided for	38.29%	18.86%	33.46%	40.79%	34.64%	45.89%	55.16%	67.22%
Core equity to risk-weighted loans	–	–	–	–	–	–	5.72%	1.12%

Margins and returns

Per cent a year, on the average of the opening and closing balance sheets.

Figure	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Net interest margin	–	–	–	–	–	–	–	1.74%
Yield on interest-earning assets	–	–	–	–	–	–	–	9.00%
Cost of funds	–	–	–	–	–	–	–	6.79%
Spread	–	–	–	–	–	–	–	2.21%
Cost to income	57.37%	56.11%	54.89%	57.14%	50.67%	68.76%	101.48%	101.98%
Credit cost	–	–	–	–	–	–	–	6.76%
Loans to deposits	–	–	–	–	–	–	68.66%	64.49%
Return on assets	–	–	–	–	–	–	–	−2.91%
Assets per rupee of net worth	–	–	–	–	–	–	–	18.41
Return on equity	–	–	–	–	–	–	–	−53.55%

Where the return on assets comes from

Per cent of average total assets, a year. Each line adds to the one below it. The year to Mar 2019, the first with a balance sheet on this form, has none a year before it to average with, so its ratios are blank.

Per cent	Mar 2020
Net interest income	1.49%
Other income	1.22%
Operating expenses	2.77%
Profit before provisions	−0.05%
Set aside for bad loans	3.99%
Exceptional items	0.00%
Profit before tax	−4.04%
Tax	−1.13%
Associates and businesses sold or closed	0.00%
Return on assets	−2.91%

Cash flow

Standalone, ₹ crore, years to March. The last column is the half year to Sep 2020, after the latest full year: the cash flow over its six months.

₹ crore	Sep 2020Half year
Cash from operations	−275
Capital spending	32
Free cash flow	−307
Cash from investing	−31
Cash from financing	−1
Dividends paid	0
Shares issued	0
Net change in cash	−307

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only.

Standalone, ₹ per share, years to March.

₹ per share	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Earnings per share	₹6.11	₹9.16	–	₹14.07	−₹28.29	−₹34.66	−₹25.16
Diluted earnings per share	–	₹9.15	–	₹13.95	−₹28.11	−₹34.59	−₹25.16
Book value per share	–	–	–	–	–	–	₹36.52
Market cap at the year end (₹ crore)	696	1,818	–	2,986	1,891	1,818	369

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2020.

Measure	5 years	3 years
Revenue growth, yearly rate	0.5%	−8.6%
Return on equity, average	–	−50.4%
Net margin, average	−13.0%	−26.3%
Asset turnover, average	–	0.09

Where the return came from

Yearly rates to Mar 2020, per-share figures restated for splits and bonuses.

Over	Return a year	Earnings growth	Change in P/E	Dividend yield
1 year	−84.6%	–	–	0.0%
3 years	−59.6%	–	–	0.0%
5 years	−36.0%	–	–	0.0%

Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 3 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Lakshmi Vilas Bank share price by year

Each calendar year to 2020.

Year	Close at year end	Change	Highest close	Lowest close
2020	7.65	−55.7%	24.25	7.30
2019	17.25	−80.2%	97.40	14.05
2018	87.15	−41.1%	149.85	71.80
2017	148.05	+4.7%	207.55	135.80
2016	141.40	+45.9%	158.45	79.15
2015	96.90	+13.6%	106.65	72.40

₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. The 2020 close is its last trade, on 25 Nov 2020.

Recent sessions

The 10 trading days to 25 Nov 2020, as traded on BSE.

Date	Open	High	Low	Close	Average price	Volume
25 Nov 2020	6.95	7.65	6.95	7.65	7.30	4,38,27,416
24 Nov 2020	7.30	7.30	7.30	7.30	7.30	15,15,391
23 Nov 2020	8.10	8.10	8.10	8.10	8.10	12,26,536
20 Nov 2020	9.00	9.00	9.00	9.00	9.00	12,53,612
19 Nov 2020	10.00	10.00	10.00	10.00	10.00	23,14,206
18 Nov 2020	12.45	12.45	12.45	12.45	12.45	25,45,033
17 Nov 2020	15.70	16.00	15.40	15.55	15.54	11,66,517
14 Nov 2020	15.65	15.85	15.25	15.65	15.70	3,67,418
13 Nov 2020	15.00	15.80	15.00	15.65	15.40	6,17,609
12 Nov 2020	15.55	15.55	15.05	15.35	15.30	5,82,016

Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.

Ex-date	Event	Price factor	What happened
25 Jul 2014	Price move	–	Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for.
27 May 2008	Price move	–	Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for.
8 Feb 2008	Price move	–	Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for.

Each event is noted and not adjusted for.

Company details

BSE code: 534690
ISIN: INE694C01018
Former symbols: LAKSHVILAS
Website: www.lvbank.com
CIN: L65110TN1926PLC001377; Corporate identity number, the registrar of companies' code for it
Incorporated: 1926
Registered office: Salem Road, Kathaparai, Karur 639006, Tamil Nadu
Share registrar: Integrated Registry Management Services Pvt. Ltd (Integrated Enterprises (India) Ltd); Keeps the register of shareholders and handles transfers and dividend payments