Consensus among 15 analysts, including foreign institutional investors, who have made predictions on the IDBI results, is that the institution would end up posting a net profit of Rs 1,506 crore and declare a dividend of Rs 4.57 per share of Rs 10 for 1998-99. The earning per share has been pegged at 22.89, up from 21.84 during 1997-98.

The institution, which had recorded a 31 per cent jump in its net profit to Rs 1,501 crore during 1997-98, will find it difficult to maintain the previous year's growth rate due to an overall dip in the business during the year, analysts said.

The institution had recorded a marginal growth in its half-yearly net profit at Rs705 crore against Rs 689 crore recorded as on September 30 1997.

IDBI's sanctions have recorded a 6.57 per cent increase in fiscal 1999 -- from Rs 23,999 crore to Rs 25,578 crore- while its disbursements have taken a dip by 5.48 per cent from 15,183 crore to Rs 14,350 crore during the year.

IDBI's sanctions during 1997-98 had aggregated at Rs 24,097 crore, registering a growth of 41.3 per cent over the previous year's level of 17,050 crore. Disbursements during the year amounted to Rs 15,119 crore, which was 32.2 per cent higher than the disbursements (Rs 11,439 crore) made in 1996-97.

Warburg Dillon Read, Cazenove India and Indosuez WI Carr Securities have advised investors to hold on to the IDBI scrip, while Credit Lyonnais India, Credit Suisse First Boston and SG Securities have suggested "sell". SMIFS Securities and HSBC Securities have opined that the institution has underperformed while Lehman Brothers, SSKI Securities, DSP Merrili Lynch have remained neutral in their stand. Lehman Brothers hasprojected a profit of Rs 1,745 crore during 1998-99 and pegged the dividend projection at Rs 5. In contrast, Morgan Stanley (India) has estimated the profit at Rs 1,501 crore and dividend at Rs 4.5 during 1998-99.

HSBC Securities, which has said that the institution has underperformed, preferred to put the profit at a conservative figure of Rs 1,500 crore.DSP Merrili Lynch, SSKI Securities and Credit Suisse First Boston have projected a dip in the net profit from Rs 1,501 crore during the year. While DSP Merrili Lynch and Credit Suisse First Boston have pegged the profit at Rs 1,392 crore Rs 1,316, respectively, SSKI Securities has estimated it at Rs 1,375 crore during the year.

Paribas has predicted the highest profit for the IDBI at Rs 2,325 crore during the year.

Analysts expect a higher non-performing asset figure of over 7 per cent in the IDBI's balance sheet during the year.