Dhanlaxmi Bank Limited has delivered multi-bagger returns to its shareholders in the last one year, with its share price increasing by more than 130% from Rs 12.15 on October 03, 2022, to Rs 31.65 on October 03, 2023.
An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 2.30 lakh today.
Dhanlaxmi Bank Limited was incorporated in 1927 in Thrissur, Kerala is a publicly held banking company engaged in providing a wide range of banking and financial services including retail banking, corporate banking, and treasury operations with a major concentration in Southern states.
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As of March 31, 2023, the bank had a presence across 14 States and 1 Union Territory through 253 branches, 270 ATMs and 17 business correspondents. The bank has obtained in-principal approval from the Reserve Bank of India for the opening of 12 more branches.
In the recent quarter, Q1FY24, the company reported a 93.39% rise in its net profit at Rs 28.30 crore for the quarter ended June 30, 2023, as compared to a loss of Rs 26.43 crore for the same quarter in the previous year. The total income of the company increased by 44.16% at Rs 341.40 crore for Q1FY24 as compared to Rs 236.82 crore for the corresponding quarter previous year.
The company is currently trading at a TTM PE of 35.67x, as against the industry PE of 8.20x. In FY22, the company delivered an ROE & ROCE of 31% and 34% respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 2,734.18 crore.
Today, the stock opened at Rs 29.62, with a high and low of Rs 32.13 and Rs 29.20. It is currently trading at Rs 31.70, up by 8.82%. The stock has a 52-week high of Rs 33.83 and a 52-week low of Rs 11.33.
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