Whalesbook
SFIO ka jaal aur phaila hai! Ab toh company ke audit firms ko bhi bulaaya hai. Pata chala hai ki yeh mamla March 2025 se chal raha hai, jismein ₹1,000 crore ki treasury trades ka pata nahi chal raha, aur toh aur, unki microfinance unit Bharat Financial Inclusion Limited (BFIL) mein ₹2,000 crore ki loan evergreening ka bhi shaq hai. SFIO ne toh S R Batliboi & Co (EY) aur MSKA & Associates (BDO) jaise bade audit firms ko bhi pakad liya hai, jo pichhle 10 saal se bank ke saath kaam kar rahe hain. Lagta hai poori system ki jaanch ho rahi hai.
Asal mein, yeh sab charcha March 2025 mein tab shuru hui jab auditors ne kuch gadbadi pakdi. Ministry of Corporate Affairs (MCA) ne tab SFIO ko jaanch ka order diya tha. Bank ka kehna hai ki unke kisi employee ko seedha SFIO ka notice nahi aaya hai, par audit firms se baat hona chiz ko aur serious bana deta hai. Yeh ₹2,000 crore ka mamla loan evergreening aur derivatives se juda hua hai, jisne bank ke results par bhi asar dala hai aur iski wajah se April 2025 mein bank ke CEO aur Deputy CEO ne resign bhi kar diya tha. Stock prices bhi mid-May 2026 mein ₹886 se ₹908 ke beech mein fluctuate ho rahe hain.
Ab valuation ki baat karein toh IndusInd Bank ka P/E ratio bahut hi ajeeb hai. Kabhi ye 74-78 ke aas paas hai, toh kabhi negative -32.68 tak chala jaata hai. Industry ka median P/E toh bas 11.13 ke aas paas hai. Negative P/E ka matlab samajh lo ki company ke earnings mein kuch gadbadi ho sakti hai ya accounting mein kuchh dikkat hai, jis par investors ko dhyan dene ki zarurat hai.
Audit firms ko lapete mein lena corporate governance par bahut bade sawal khade karta hai. Lagta hai ki pichhle 5 se 7 saal se derivative trades mein controls kaafi dheele the. Yeh ₹2,000 crore ka ghapla na sirf profits ko kamzor kar raha hai, balki investors ka bharosa bhi tod raha hai. Jab April 2025 mein top management chala gaya tha, tabhi se sabko pata tha ki kuchh bada gadbad hai. Bank ki market cap lagbhag ₹69,000-69,500 crore ke aas paas hai, lekin yeh sab regulatory issues aur nayi khabrein stock ko aur gira sakti hain.
Analysts ka scene bhi mila-jula hai. Zyada tar log 'Neutral' ya 'Hold' rating de rahe hain, aur target price ₹911-₹913 ke aas paas hai. Kuchh optimistic analyst ₹1,400 tak bhi dekh rahe hain, toh kuch log ₹600 tak jaane ki bhi baat kar rahe hain. Ab yeh sab SFIO ki jaanch, bank ke transparency aur investors ka trust wapas jeetne par depend karta hai.