IDFCFIRSTB

Valuation Ratios (as of mid-2025): P/E around 34×; P/B near 1.38×. These reflect a relatively expensive valuation given the bank’s moderate ROE (4%) and ROA (0.46%) PE Ratio Trend: As of September 2025, trailing P/E stands at 39.9× vs industry average of 19.4× P/B Ratio Trend: As of July 2025, P/B is 1.05—below its 6-year average of 1.28, yet the ratio has fallen 36% from last year Financial Health Capital raising and decent CAR provide buffer for expansion Valuation Rich valuations vs peers; P/E nearly double industry average