Tamilnad Mercantile Bank share price
NSE: TMBBSE: 543596BanksSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹806.65.
28 Oct: open ₹806.65, high ₹829.50, low ₹779.15
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹12,522 Cr543rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 7.94
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 1.16
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.58%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 15.6%
- NIMNet interest margin. Net interest income ÷ the average assets that earn interest × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. For the year to Mar 2026. Net interest margin in the glossary
- 3.85%
- Gross NPAGross NPA, non-performing loans. Gross non-performing loans as a percentage of all loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is below the net share. At the end of Sep 2026.
- 0.61%
- Net NPANet NPA, non-performing loans. Net non-performing loans as a percentage of loans, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, where the figure is outside what it can be, where the filing's own amounts show it written on another scale or rounded to the whole per cent, where it is 0 for a bank that lends, or where it is above the gross share. At the end of Sep 2026.
- 0.14%
- CET1Common equity tier 1 ratio. The bank's core capital, mostly shareholders' money, as a percentage of its loans and other assets weighted by risk, as the bank states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the figure is outside what it can be. At the end of Sep 2026. Common equity tier 1 ratio in the glossary
- 31.36%
- ROAReturn on assets. Profit after tax ÷ average total assets × 100 × 12 ÷ the months in the period, a rate per year; given only where the balance sheets at the start and at the end of the period are both held; not given for an insurer. It equals net interest income + other income − operating expenses − provisions + exceptional items − tax + the lines below tax, each on the same base. For the year to Mar 2026. Return on assets in the glossary
- 1.89%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,28,48547.3% delivered
About Tamilnad Mercantile Bank
Tamilnad Mercantile Bank is a private sector bank headquartered in Thoothukudi, Tamil Nadu.1 It lends to retail, agriculture and micro, small and medium enterprises (MSMEs) customers, and most of its term deposits are retail term deposits.2 It serves customers through branches, ATMs and internet and mobile banking, mainly in Tamil Nadu, and is expanding into other states.34
The bank reports its results in treasury, corporate and wholesale banking, retail banking and other banking operations, and has no branches outside India.5 Its products include the JLPlus savings account combined with a jewel (gold) loan and the TMB MBank mobile banking app.67 On its earnings call of 27 Jul 2026, the bank said it is focusing on home loans, vehicle loans and loans against property.8
It was incorporated in 1921 and listed its shares on the stock exchanges in 2022.910 It does not belong to any business group and has no subsidiaries, associates or joint ventures.11 At the end of Sep 2026, overseas corporate bodies (foreign entities owned mainly by non-resident Indians) held 22.425% of its shares, foreign portfolio investors 6.859% and mutual funds 0.663%.12 Salee S Nair is Managing Director and CEO, and K. Ramachandran is part-time Chairman.13 The board includes C.S. Ram Kumar and V. Srinivasan, additional directors nominated by the Reserve Bank of India.14
Tamilnad Mercantile Bank key points
Results
- In the quarter to Sep 2026, net profit rose 42.09% from a year earlier to ₹451.14 crore, the bank's highest ever; operating profit (before provisions and tax) rose 41.80% to ₹641.55 crore and net interest income (interest earned less interest paid) 35.17% to ₹807.17 crore.1516
- In the half year to Sep 2026, net profit rose 38.60% to ₹862.65 crore, operating profit 44.86% to ₹1,252.62 crore and net interest income 33.62% to ₹1,572.25 crore.15
- In the year to Mar 2026, net profit rose 13.10% to ₹1,338 crore, the highest in the bank's history, and net interest income 9.84% to ₹2,527 crore.1718
- In the quarter to Sep 2026, return on assets was 2.18% and return on equity 16.92% (profit as a share of assets and of shareholders' funds); net interest margin (net interest income as a share of earning assets) was 4.19%.1920
Loan book and deposits
- Total business (deposits plus gross advances) was ₹1,30,237 crore at the end of Sep 2026, up 27.25% from a year earlier, the highest year-on-year growth in 18 years, the bank says.2122
- Gross advances (loans) by segment at the end of Sep 2026, ₹ crore2324Gross advances grew 29.32% from a year earlier.
Item quarter to Sep 2026 Agriculture 25,094.51 MSME 17,266.88 Retail 14,885.72 Others 3,443.64 Total 60,690.75 - Gold loans were ₹29,280 crore at the end of Sep 2026, 48.24% of the loan portfolio, with a loan-to-value ratio (the loan as a share of the pledged gold's value) of 62.35%.25
- Deposits were ₹69,546 crore at the end of Sep 2026, up 25.49% from a year earlier; current and savings accounts (CASA, the lowest-cost deposits) made up ₹17,629 crore, or 25.35%.2627
Branches and reach
Asset quality and capital
- Gross non-performing assets (NPAs, loans not being repaid) were 0.61% of advances at the end of Sep 2026 and net NPAs 0.14%; provisions, including written-off loans, covered 96.61% of bad loans.3031
- The capital adequacy ratio (capital to risk-weighted assets) was 32.39% at the end of Sep 2026, and the cost-to-income ratio (operating costs to income) 38.28% in the quarter.32
- For expected credit loss rules due from April 2027 (provisions for losses expected, not only those incurred), the bank estimated a one-time impact of ₹385 crore as of Sep 2026, and said ₹304 crore of provisions was already available.33
What the company expects
- On its earnings call of 27 Jul 2026, the company said it was raising its advances growth guidance for the year to Mar 2027 from 20% to 21% to 22%, and its deposit growth guidance of 16% by 2%.34
- On its earnings call of 27 Jul 2026, the company said it expects a net interest margin well past 4%, return on assets well over 2% and return on equity of 15% for the year to Mar 2027.35
- The company stated in its annual report for the year to Mar 2026 that it plans 60 new branches in the year to Mar 2027, at least 20 outside Tamil Nadu, and to lift business from outside Tamil Nadu from 27% towards 30%.36
Recent events
- On 5 Oct 2026, India Ratings assigned the bank an issuer credit rating (an agency's view of its ability to repay) of IND AA- with a stable outlook.37
- On 27 Nov 2025, the bank began a phased rollout of a new loan origination system built with Nucleus Software, and opened new premises for its first credit management centre in Thoothukudi, aiming to cut loan approval times.38
Litigation and regulatory matters
- On 9 Jul 2026, an appellate tribunal cut an Enforcement Directorate penalty over share transfers from ₹17 crore to ₹3.40 crore and dismissed the Directorate's claim to confiscate foreign investors' shares; the bank is to receive back ₹13.60 crore it deposited.3940
- As of 26 Oct 2026, the bank's application to the Reserve Bank of India to regularise the share transfers in the Enforcement Directorate case was under consideration.41
- A second Enforcement Directorate notice, of Nov 2017, over the bank's bonus share issue proposes a ₹1,037 crore penalty, pending adjudication as of 26 Oct 2026; management believes, on legal advice, the offence if established is chargeable at ₹2.00 lakh, fully provided.42
- On 14 May 2026, the Income Tax Department reduced a demand of ₹2,04,23,11,454 for assessment year 2013-14 (the tax year that assesses the previous year's income) to ₹2,93,39,404 on rectification.43
Last updated
All 43 sources, each with its page
- 1. Exchange filing, 27 Nov 2025, page 3
- 2. Annual report, 18 Jun 2026, page 170
- 3. Annual report, 18 Jun 2026, page 73
- 4. Annual report, 18 Jun 2026, page 34
- 5. Annual report, 18 Jun 2026, page 254
- 6. Annual report, 18 Jun 2026, page 75
- 7. Annual report, 18 Jun 2026, page 74
- 8. Earnings call, 27 Jul 2026, page 13
- 9. Annual report, 18 Jun 2026, page 3
- 10. Annual report, 18 Jun 2026, page 36
- 11. Annual report, 18 Jun 2026, page 324
- 12. Investor presentation, 26 Oct 2026, page 22
- 13. Annual report, 18 Jun 2026, page 28
- 14. Annual report, 18 Jun 2026, page 28
- 15. Investor presentation, 26 Oct 2026, page 19
- 16. Investor presentation, 26 Oct 2026, page 6
- 17. Annual report, 18 Jun 2026, page 36
- 18. Annual report, 18 Jun 2026, page 31
- 19. Investor presentation, 26 Oct 2026, page 7
- 20. Investor presentation, 26 Oct 2026, page 32
- 21. Investor presentation, 26 Oct 2026, page 7
- 22. Investor presentation, 26 Oct 2026, page 6
- 23. Investor presentation, 26 Oct 2026, page 26
- 24. Investor presentation, 26 Oct 2026, page 12
- 25. Investor presentation, 26 Oct 2026, page 15
- 26. Investor presentation, 26 Oct 2026, page 7
- 27. Investor presentation, 26 Oct 2026, page 8
- 28. Investor presentation, 26 Oct 2026, page 37
- 29. Annual report, 18 Jun 2026, page 70
- 30. Investor presentation, 26 Oct 2026, page 8
- 31. Investor presentation, 26 Oct 2026, page 24
- 32. Investor presentation, 26 Oct 2026, page 33
- 33. Investor presentation, 26 Oct 2026, page 30
- 34. Earnings call, 27 Jul 2026, page 9
- 35. Earnings call, 27 Jul 2026, page 9
- 36. Annual report, 18 Jun 2026, page 36
- 37. Exchange filing, 5 Oct 2026, page 1
- 38. Exchange filing, 27 Nov 2025, page 2
- 39. Investor presentation, 26 Oct 2026, page 43
- 40. Investor presentation, 26 Oct 2026, page 43
- 41. Investor presentation, 26 Oct 2026, page 43
- 42. Investor presentation, 26 Oct 2026, page 43
- 43. Exchange filing, 14 May 2026, page 1
Results
Standalone; ₹ crore. Total income is interest earned plus other income, fees and treasury gains among it.Tamilnad Mercantile Bank quarterly results
- Total income growth, 12 monthsTotal income growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +17.6%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +29.9%
Quarter to Sep 2026, against the quarter before
- Total incomeTotal income. The pill is the change in total income against the quarter before: this period's figure divided by that one's, less one, in per cent. Total income in the glossary
- ₹2,052 Crup 7.98%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹451 Crup 9.63%
Total income by quarter
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Total income | 1,520 | 1,542 | 1,617 | 1,621 | 1,665 | 1,792 | 1,901 | 2,052 |
| Net profit | 300 | 292 | 305 | 318 | 342 | 374 | 412 | 451 |
Year to Mar 2026, against the year before
- Total incomeTotal income. The pill is the change in total income against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹6,696 Crup 9.03%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,338 Crup 13.10%
Total income by year
Net profit by year, a loss in red
| ₹ crore | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Total income | 4,710 | 5,493 | 6,142 | 6,696 |
| Net profit | 1,029 | 1,072 | 1,183 | 1,338 |
Business segments
Share of revenue, year to Mar 2026, standalone.Segment revenue and profit
- Retail BankingRetail Banking, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹4,834 Crup 12.27%72.2%
- TreasuryTreasury, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,281 Crup 1.95%19.1%
- Corporate / Wholesale BankingCorporate / Wholesale Banking, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹582 Crup 0.34%8.7%
Valuation
Today, against the company's own history.Tamilnad Mercantile Bank PE ratio and valuation
At or below today's level on 75% of 864 trading days since May 2023.
At or below today's level on 78% of 989 trading days since Nov 2022.
At or below today's level on 45% of 1,000 trading days since Sep 2022.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +43.2% | +13.1% | +24.7% | 2.2% |
| 3 years | +14.7% | +9.1% | +3.0% | 2.3% |
Mutual fund holdings
14 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 8 of the 11 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 14 funds holding Tamilnad Mercantile Bank
- AddedAdded. Funds that held more shares than at the end of the month before.
- 4
- CutCut. Funds that held fewer shares than at the end of the month before.
- 7
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 3
| Fund | |||
|---|---|---|---|
| 3,17,937 | 1.15% | ₹27.7 Cr | |
| 3,16,360 | 1.41% | ₹27.6 Cr | |
| 2,08,379 | 1.88% | ₹18.2 Cr | |
| 1,16,674 | 0.60% | ₹10.2 Cr | |
| 27,789 | 2.27% | ₹2.42 Cr | |
| 26,665 | 0.86% | ₹2.32 Cr | |
| 21,079 | 2.25% | ₹1.84 Cr | |
| 13,645 | 0.54% | ₹1.19 Cr | |
| 2,078 | 0.05% | ₹0.18 Cr | |
| 346 | 0.05% | ₹0.03 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Tamilnad Mercantile Bank insider trading
- Directors and key managers4 purchases, 0 sales₹0.05 CrNo saleNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.₹0.05 Cr3 off-market moves
- Others2 purchases, 0 sales₹0.02 CrNo saleNet₹0.02 Cr3 off-market moves
Tamilnad Mercantile Bank competitors and peers
Private Sector Bank, 20 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Tamilnad Mercantile Bank in market cap.Finance companies
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 25,031 | 13.43 | 0.95 | +0.8% | +51.7% | 7.3% | 0.61% | 5.94% | 0.97% | |
| 21,302 | 14.29 | 1.90 | +21.6% | +23.3% | 14.1% | 1.52% | 3.57% | 0.93% | |
| 14,313 | 9.03 | 1.19 | +4.7% | +16.8% | 14.0% | 1.09% | 2.80% | 0.82% | |
| 13,416 | 5.68 | 0.76 | +6.4% | +13.0% | 14.5% | 1.32% | 3.78% | 0.00% | |
| 11,768 | 7.57 | 0.84 | +3.3% | +35.4% | 11.7% | 1.05% | 2.96% | 1.61% | |
| 6,177 | 7.35 | 0.89 | +10.3% | +25.4% | 13.0% | 0.89% | 3.22% | 0.76% | |
| 5,365 | 7.81 | 1.03 | +15.7% | +10.6% | 13.9% | 1.20% | 3.61% | 0.00% | |
| 1,271 | 9.03 | 0.82 | +23.5% | – | 9.5% | 0.52% | 3.53% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Tamilnad Mercantile Bank dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 12 Jun 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹12.50 |
| 1 Aug 2025 | Final | ₹11.00 |
| 20 Sep 2024 | Final | ₹10.00 |
| 29 Aug 2023 | Final | ₹5.00 |
| 24 Feb 2023 | Interim | ₹5.00 |
Latest announcements
Routine notices left out.Tamilnad Mercantile Bank announcements
Oct 2026
26 Oct · Results
9 Oct · General Updates
9 Oct · Analysts
7 Oct · General Updates
Tamilnad Mercantile Bank share price by year
Each calendar year to 2025.Tamilnad Mercantile Bank share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 513.80 | +13.7% | 536.15 | 406.90 |
| 2024 | 451.90 | −10.4% | 511.55 | 424.55 |
| 2023 | 504.45 | +5.4% | 597.15 | 399.70 |
| 2022 | 478.60 | – | 528.75 | 465.45 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 821.95 | 828.60 | 781.70 | 806.65 | 803.37 | 5,26,923 | 31.6% |
| 26 Oct 2026 | 804.70 | 810.95 | 770.30 | 804.05 | 788.25 | 7,15,869 | 28.2% |
| 23 Oct 2026 | 843.00 | 843.00 | 793.90 | 800.65 | 805.21 | 1,98,515 | 49.5% |
| 22 Oct 2026 | 854.05 | 854.05 | 832.05 | 841.25 | 839.13 | 1,12,210 | 48.6% |
| 21 Oct 2026 | 868.35 | 875.00 | 845.10 | 849.80 | 855.00 | 92,381 | 55.5% |
| 19 Oct 2026 | 857.30 | 876.75 | 850.20 | 868.35 | 869.66 | 95,047 | 44.0% |
| 16 Oct 2026 | 860.00 | 866.25 | 849.40 | 857.30 | 855.40 | 1,03,175 | 54.4% |
| 15 Oct 2026 | 864.95 | 872.00 | 850.50 | 854.90 | 855.12 | 94,436 | 53.1% |
| 14 Oct 2026 | 877.00 | 877.85 | 860.00 | 863.80 | 868.14 | 96,265 | 47.6% |
Company details
- NSE symbol
- TMB
- BSE code
- 543596
- ISIN
- INE668A01016
- Industry
- Banks
- Website
- www.tmb.bank.in
- CIN
- L65110TN1921PLC001908
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1921
- Registered office
- No. 57, Victoria Extension Road, Thoothukudi, 628002, Tamil Nadu
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments