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IndusInd Bank Ltd

INDUSINDBK

NSE

₹838.00-3.46%30 Oct 2026

Reports

Private Banks

IndusInd Bank Ltd

INDUSINDBK

NSE

₹838.00

-3.46%

30 Oct 2026

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Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

IndusInd Bank - IndusInd Bank is a universal bank built on a simple but powerful idea - use a disproportionately large distribution network to gather granular deposits from across India, then lend them out across every segment from the country’s largest companies to its smallest village entrepreneurs. Founded in 1994 and inspired by the Indus Valley Civilization, it has grown into India’s fifth-largest private sector bank, serving approximately 39 million customers with a full suite of banking services. The recurring approach that explains everything else is “Scale with Sustainability” - retailise the liability base to keep funding costs low, then deploy those funds across consumer, corporate, and inclusive-finance businesses, all while building digital platforms that make the bank cheaper to run and easier to access.

Business segments

Four engines at different stages - a vehicle-finance powerhouse that anchors the loan book, a wholesale bank that funds India’s corporates, a rural-inclusion platform reaching 1.6 lakh villages, and a consumer-and-digital franchise that is still scaling - each fed by a granular deposit base gathered through one of the country’s widest banking networks.

1. Vehicle Finance: the bank’s largest lending engine, built over three decades

A 35-year-old franchise that finances everything from trucks and tractors to construction equipment, operating with the speed of a non-bank lender inside a bank’s balance sheet.

Market leader across vehicle types - the bank holds leadership positions in most vehicle finance products, with its light-commercial-vehicle market share crossing 10% after being below 5% just a few years ago. The loan book stood at roughly ₹1 lakh crore as of March 2026, spread across heavy commercial vehicles, light commercial vehicles, passenger cars, construction equipment, two-wheelers, and tractors - no single category dominates.
Finances new and used, so cycles hurt less - it lends against both new and used assets in every vehicle segment, which means demand holds up even when new-vehicle sales dip because buyers turn to the used market. The division disbursed over ₹50,000 crore in loans in FY24 alone, an all-time high.
A dedicated field force with tech in hand - loan applications are sourced through Android tablets, and over 12,000 field-collection executives use a mobile app on bank-owned devices, one of the largest such deployments in Indian banking. This gives the bank the nimbleness of a non-bank finance company while keeping funding costs low.
Collateral coverage through the cycle - the vehicle finance book operates with strong collateral backing throughout the loan’s life, which helps contain losses when the economic cycle turns.

2. Wholesale Banking: funding India’s corporates, from gems to green energy

A corporate bank that picks its spots - it is the biggest lender to the diamond trade, a top-ranked debt arranger, and a project-finance player with over 4.5 GW of renewable energy already supported.

The diamond financier - the Global Diamonds and Jewelry Group is the largest player in financing the gems and jewellery industry in India and globally, serving everyone from rough-traders to jewellery retailers, with 40% of its clients being small and medium enterprises and 41% being MSMEs. The portfolio has been mostly delinquency-free through the years.
Supply-chain finance at scale - the bank runs a hub-and-spoke model covering more than 250 business locations, serving around 2,000 dealers and 3,000 suppliers of large corporates, with a partial guarantee from the Asian Development Bank backing a $70 million outlay exclusively for this business.
Project finance for the energy transition - it has sanctioned nearly ₹14,000 crores to renewable-energy projects, supporting over 4.5 GW of installed capacity across wind, solar, and hybrid projects.
Debt-arranging muscle - the investment-banking unit has ranked second in both deal count and deal volumes for rupee loan borrowings since calendar-year 2022, climbing from sixth place in 2016.
An offshore book at GIFT City - the bank’s international banking unit in Gujarat’s financial hub runs a balance sheet of USD 2.88 billion, and its global-markets desk commands over a third of all derivative trades at the IFSC exchange.

3. Rural Banking and Microfinance: banking the bottom of the pyramid through a wholly-owned subsidiary

Bharat Financial Inclusion Limited, the bank’s microfinance arm, is India’s second-largest micro-lender - it reaches 1.6 lakh villages through 3,427 branches and a field army of 36,000 people.

From microfinance to micro-banking - BFIL started as a pure microfinance shop but now sources 30-40% of its loan book from non-joint-liability products like merchant loans, affordable housing, and two-wheeler loans. The total rural loan book was roughly ₹32,000 crores as of March 2026.
Women’s groups at the core - the classic joint-liability-group model serves 77 lakh women borrowers, with loans disbursed at speeds of up to 1.2 per second through an in-house digital platform that records every step with zero paperwork.
Kirana stores as bank branches - the Bharat Money Store platform turns over 1,00,000 enrolled kirana shops into hyper-local banking points across over 48,000 villages, using basic smartphones to deliver banking at the doorstep; since 2017, these outlets have processed transactions for over 58 million customers.
Merchant lending for the missing middle - the Bharat Super Shop vertical serves over a million small retailers across 500 cities, offering current accounts, working-capital loans, and UPI payments, with about 6 lakh active borrowers.

4. Consumer Banking and Digital: the bank’s bet on individuals, built app-first

A consumer franchise still in build-out - home loans, personal loans, and credit cards run alongside INDIE, a standalone-profitable digital bank with 2.5 million savings-account customers and a 4.6-star app rating.

INDIE, the digital bank that pays for itself - the INDIE app turned profitable on a standalone basis in late 2024, with 2.5 million savings-account customers, 2.8 million monthly active users, and zero downtime. For existing customers who migrate to INDIE, liabilities rise 20% after the move.
Digital origination cuts costs - the do-it-yourself digital model delivers 20% lower customer-acquisition cost for credit cards and 50% lower for personal loans, with better activation rates and lower delinquencies than the traditional channel.
Deposits as the foundation - the bank’s strategy rests on granular retail deposits, which stood at 47.9% of the total as of March 2026; it gathers them through 3,000-plus banking outlets, the BFIL rural network, and digital partnerships.

Group structure and partners

The bank operates through a wholly-owned microfinance subsidiary, an associate for vehicle-finance marketing, and an offshore banking unit in GIFT City, supported by a web of partnerships that extend its reach without bloating its balance sheet.

Bharat Financial Inclusion Limited is the wholly-owned subsidiary that runs the microfinance and rural-banking operations, acting as a business correspondent with 3,427 branches. It was acquired in 2019 through a merger that left the business-correspondent undertaking inside the subsidiary while the original entity was liquidated.
IndusInd Marketing and Financial Services is a 30%-held associate that runs 102 vehicle-finance marketing outlets, extending the bank’s distribution without full ownership costs.
The GIFT City IBU operates as an offshore branch with a USD 2.88 billion balance sheet, offering international retail, external commercial borrowings, and derivatives.
Strategic partnerships fill the gaps - the bank has tied up with Tata Power for collateral-free solar loans to small enterprises, with the Asian Development Bank for supply-chain finance guarantees, with NPCI for cross-border UPI remittances, and with UNICEF for climate-resilience programmes in five Indian districts.

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Quarterly Results

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Mkt Cap

Market Capitalization

₹65,292Cr

Close Price

₹838.00

Industry

Private Banks

Price To Earnings

21.75

Price To Sales

1.44

Revenue

₹45,484Cr

Rev Gr TTM

Revenue Growth TTM

-3.85%

PAT Gr TTM

PAT Growth TTM

495.13%

Consolidated

Standalone

Numbers

Percentage

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue RevenueCr	11,572	12,199	12,547	12,686	12,801	10,634	12,264	11,609	11,373	11,005	11,310	11,796
Growth YoY Revenue Growth YoY%	22.4	21.7	16.9	12.8	10.6	-12.8	-2.3	-8.5	-11.2	3.5	-7.8	1.6
Interest Expended Interest ExpendedCr	6,277	6,822	7,139	7,339	7,573	7,586	7,624	7,199	6,811	6,634	6,625	7,227
Expenses ExpensesCr	4,618	4,753	4,947	5,753	5,726	6,770	5,989	6,645	6,095	5,272	5,082	5,166
Financing Profit Financing ProfitCr	677	623	460	-405	-498	-3,722	-1,350	-2,235	-1,533	-901	-397	-596
FPM FPM%	5.8	5.1	3.7	-3.2	-3.9	-35.0	-11.0	-19.3	-13.5	-8.2	-3.5	-5.0
Other Income Other IncomeCr	2,396	2,508	2,442	2,185	2,355	709	2,157	1,651	1,707	1,714	1,787	2,248
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	3,073	3,131	2,902	1,780	1,857	-3,013	807	-584	174	813	1,389	1,652
Tax TaxCr	772	782	731	448	455	-684	203	-147	46	219	352	410
PAT PATCr	2,301	2,349	2,171	1,331	1,402	-2,329	604	-437	128	594	1,037	1,242
Growth YoY PAT Growth YoY%	17.2	15.0	2.2	-39.5	-39.1	-199.1	-72.2	-132.8	-90.9	125.5	71.7	384.2
NPM NPM%	19.9	19.3	17.3	10.5	11.0	-21.9	4.9	-3.8	1.1	5.4	9.2	10.5
EPS EPS₹	29.6	30.2	27.9	17.1	18.0	-29.9	7.8	-5.6	1.6	7.6	13.3	15.9
Ratios Ratios

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue RevenueCr	11,572	12,199	12,547	12,686	12,801	10,634	12,264	11,609	11,373	11,005	11,310	11,796
Growth YoY Revenue Growth YoY%	22.4	21.7	16.9	12.8	10.6	-12.8	-2.3	-8.5	-11.2	3.5	-7.8	1.6
Interest Expended Interest ExpendedCr	6,277	6,822	7,139	7,339	7,573	7,586	7,624	7,199	6,811	6,634	6,625	7,227
Expenses ExpensesCr	4,618	4,753	4,947	5,753	5,726	6,770	5,989	6,645	6,095	5,272	5,082	5,166
Financing Profit Financing ProfitCr	677	623	460	-405	-498	-3,722	-1,350	-2,235	-1,533	-901	-397	-596
FPM FPM%	5.8	5.1	3.7	-3.2	-3.9	-35.0	-11.0	-19.3	-13.5	-8.2	-3.5	-5.0
Other Income Other IncomeCr	2,396	2,508	2,442	2,185	2,355	709	2,157	1,651	1,707	1,714	1,787	2,248
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	3,073	3,131	2,902	1,780	1,857	-3,013	807	-584	174	813	1,389	1,652
Tax TaxCr	772	782	731	448	455	-684	203	-147	46	219	352	410
PAT PATCr	2,301	2,349	2,171	1,331	1,402	-2,329	604	-437	128	594	1,037	1,242
Growth YoY PAT Growth YoY%	17.2	15.0	2.2	-39.5	-39.1	-199.1	-72.2	-132.8	-90.9	125.5	71.7	384.2
NPM NPM%	19.9	19.3	17.3	10.5	11.0	-21.9	4.9	-3.8	1.1	5.4	9.2	10.5
EPS EPS₹	29.6	30.2	27.9	17.1	18.0	-29.9	7.8	-5.6	1.6	7.6	13.3	15.9
Ratios Ratios

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	11,872	14,406	17,281	22,261	28,783	29,000	30,822	36,368	45,748	48,668	46,251	45,484
Growth Revenue Growth%		21.3	20.0	28.8	29.3	0.8	6.3	18.0	25.8	6.4	-5.0	-3.9
Interest Expended Interest ExpendedCr	7,355	8,343	9,783	13,415	16,724	15,472	15,822	18,776	25,132	29,636	28,268	27,297
Expenses ExpensesCr	4,188	5,684	6,555	9,284	12,544	15,772	15,561	15,425	17,569	22,664	23,437	21,615
Financing Profit Financing ProfitCr	329	379	942	-438	-485	-2,244	-560	2,167	3,046	-3,632	-5,455	-3,427
FPM FPM%	2.8	2.6	5.5	-2.0	-1.7	-7.7	-1.8	6.0	6.7	-7.5	-11.8	-7.5
Other Income Other IncomeCr	3,297	4,171	4,750	5,647	6,953	6,501	7,345	8,173	9,396	7,690	7,229	7,455
Depreciation DepreciationCr	157	191	212	229	291	328	352	407	463	532	564	0
PBT PBTCr	3,469	4,360	5,481	4,980	6,177	3,929	6,433	9,932	11,979	3,526	1,210	4,028
Tax TaxCr	1,183	1,492	1,875	1,679	1,719	1,000	1,628	2,489	3,002	950	321	1,027
PAT PATCr	2,287	2,868	3,606	3,301	4,458	2,930	4,805	7,444	8,977	2,576	889	3,001
Growth PAT Growth%		25.4	25.7	-8.5	35.1	-34.3	64.0	54.9	20.6	-71.3	-65.5	495.1
NPM NPM%	19.3	19.9	20.9	14.8	15.5	10.1	15.6	20.5	19.6	5.3	1.9	6.6
EPS EPS₹	39.7	48.1	60.2	54.9	64.3	40.0	62.1	96.0	115.5	33.1	11.4	38.5

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	11,872	14,406	17,281	22,261	28,783	29,000	30,822	36,368	45,748	48,668	46,251	45,484
Growth Revenue Growth%		21.3	20.0	28.8	29.3	0.8	6.3	18.0	25.8	6.4	-5.0	-3.9
Interest Expended Interest ExpendedCr	7,355	8,343	9,783	13,415	16,724	15,472	15,822	18,776	25,132	29,636	28,268	27,297
Expenses ExpensesCr	4,188	5,684	6,555	9,284	12,544	15,772	15,561	15,425	17,569	22,664	23,437	21,615
Financing Profit Financing ProfitCr	329	379	942	-438	-485	-2,244	-560	2,167	3,046	-3,632	-5,455	-3,427
FPM FPM%	2.8	2.6	5.5	-2.0	-1.7	-7.7	-1.8	6.0	6.7	-7.5	-11.8	-7.5
Other Income Other IncomeCr	3,297	4,171	4,750	5,647	6,953	6,501	7,345	8,173	9,396	7,690	7,229	7,455
Depreciation DepreciationCr	157	191	212	229	291	328	352	407	463	532	564	0
PBT PBTCr	3,469	4,360	5,481	4,980	6,177	3,929	6,433	9,932	11,979	3,526	1,210	4,028
Tax TaxCr	1,183	1,492	1,875	1,679	1,719	1,000	1,628	2,489	3,002	950	321	1,027
PAT PATCr	2,287	2,868	3,606	3,301	4,458	2,930	4,805	7,444	8,977	2,576	889	3,001
Growth PAT Growth%		25.4	25.7	-8.5	35.1	-34.3	64.0	54.9	20.6	-71.3	-65.5	495.1
NPM NPM%	19.3	19.9	20.9	14.8	15.5	10.1	15.6	20.5	19.6	5.3	1.9	6.6
EPS EPS₹	39.7	48.1	60.2	54.9	64.3	40.0	62.1	96.0	115.5	33.1	11.4	38.5

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital Equity CapitalCr	595	598	600	603	694	773	775	776	778	779	779	779
Reserves ReservesCr	17,088	20,034	23,228	26,073	33,371	42,722	47,236	54,184	62,326	63,914	64,809	67,006
Deposits DepositsCr	93,000	1,26,572	1,51,639	1,94,868	2,02,027	2,55,870	2,93,349	3,36,120	3,84,586	4,10,862	3,99,931	4,28,832
Borrowings BorrowingsCr	24,996	22,454	38,289	47,321	60,754	51,323	47,323	49,011	47,611	53,704	42,789	53,781
Other Liabilities Other LiabilitiesCr	7,219	8,992	7,871	8,956	10,383	12,215	13,284	17,745	19,793	24,848	35,086	29,751
Total Liabilities Total LiabilitiesCr	1,42,898	1,78,650	2,21,628	2,77,821	3,07,229	3,62,903	4,01,967	4,57,837	5,15,094	5,54,107	5,43,394	5,80,148
Fixed Assets Fixed AssetsCr				1,710	1,871	1,876	1,929	2,079	2,324	2,496	2,546	2,518
Investments InvestmentsCr	34,056	36,704	50,078	59,268	59,938	69,653	70,930	83,076	1,06,486	1,14,457	1,25,007	1,06,391
Advances AdvancesCr	97,313	1,21,630	1,56,617	2,01,388	2,28,415	2,33,109	2,58,657	3,14,165	3,68,007	3,75,911	3,64,563	4,08,304
Cash Equivalents Cash EquivalentsCr	10,112	18,628	13,216	14,783	16,054	56,610	68,585	56,777	36,907	59,375	48,932
Other Assets Other AssetsCr	1,418	1,688	1,717	671	951	1,655	1,867	1,740	1,369	1,868	2,346	62,936
Total Assets Total AssetsCr	1,42,898	1,78,650	2,21,628	2,77,821	3,07,229	3,62,903	4,01,967	4,57,837	5,15,094	5,54,107	5,43,394	5,80,148

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital Equity CapitalCr	595	598	600	603	694	773	775	776	778	779	779	779
Reserves ReservesCr	17,088	20,034	23,228	26,073	33,371	42,722	47,236	54,184	62,326	63,914	64,809	67,006
Deposits DepositsCr	93,000	1,26,572	1,51,639	1,94,868	2,02,027	2,55,870	2,93,349	3,36,120	3,84,586	4,10,862	3,99,931	4,28,832
Borrowings BorrowingsCr	24,996	22,454	38,289	47,321	60,754	51,323	47,323	49,011	47,611	53,704	42,789	53,781
Other Liabilities Other LiabilitiesCr	7,219	8,992	7,871	8,956	10,383	12,215	13,284	17,745	19,793	24,848	35,086	29,751
Total Liabilities Total LiabilitiesCr	1,42,898	1,78,650	2,21,628	2,77,821	3,07,229	3,62,903	4,01,967	4,57,837	5,15,094	5,54,107	5,43,394	5,80,148
Fixed Assets Fixed AssetsCr				1,710	1,871	1,876	1,929	2,079	2,324	2,496	2,546	2,518
Investments InvestmentsCr	34,056	36,704	50,078	59,268	59,938	69,653	70,930	83,076	1,06,486	1,14,457	1,25,007	1,06,391
Advances AdvancesCr	97,313	1,21,630	1,56,617	2,01,388	2,28,415	2,33,109	2,58,657	3,14,165	3,68,007	3,75,911	3,64,563	4,08,304
Cash Equivalents Cash EquivalentsCr	10,112	18,628	13,216	14,783	16,054	56,610	68,585	56,777	36,907	59,375	48,932
Other Assets Other AssetsCr	1,418	1,688	1,717	671	951	1,655	1,867	1,740	1,369	1,868	2,346	62,936
Total Assets Total AssetsCr	1,42,898	1,78,650	2,21,628	2,77,821	3,07,229	3,62,903	4,01,967	4,57,837	5,15,094	5,54,107	5,43,394	5,80,148

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-2,927	11,569	-20,700	-6,389	-12,907	44,976	16,672	-12,442	-16,925	18,278	993
Investing Cash Flow Investing Cash FlowCr	-258	-274	-220	-638	-416	-331	-406	-560	-711	-709	-634
Financing Cash Flow Financing Cash FlowCr	2,517	-2,768	15,505	8,590	12,733	-4,096	-4,302	1,115	-2,242	4,876	-10,912
Net Cash Flow Net Cash FlowCr	-667	8,516	-5,412	1,568	-570	40,556	11,975	-11,808	-19,869	22,468	-10,553
Free Cash Flow Free Cash FlowCr	-3,184	11,296	-20,920	-7,027	-13,324	44,645	16,266	-13,002	-17,636	17,569
CFO To EBITDA CFO To EBITDA%	-890.1	3,053.5	-2,197.0	1,459.0	2,661.3	-2,004.4	-2,977.5	-574.3	-555.5	-503.2	-18.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-2,927	11,569	-20,700	-6,389	-12,907	44,976	16,672	-12,442	-16,925	18,278	993
Investing Cash Flow Investing Cash FlowCr	-258	-274	-220	-638	-416	-331	-406	-560	-711	-709	-634
Financing Cash Flow Financing Cash FlowCr	2,517	-2,768	15,505	8,590	12,733	-4,096	-4,302	1,115	-2,242	4,876	-10,912
Net Cash Flow Net Cash FlowCr	-667	8,516	-5,412	1,568	-570	40,556	11,975	-11,808	-19,869	22,468	-10,553
Free Cash Flow Free Cash FlowCr	-3,184	11,296	-20,920	-7,027	-13,324	44,645	16,266	-13,002	-17,636	17,569
CFO To EBITDA CFO To EBITDA%	-890.1	3,053.5	-2,197.0	1,459.0	2,661.3	-2,004.4	-2,977.5	-574.3	-555.5	-503.2	-18.2

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	57,571	84,306	1,07,776	1,07,405	24,354	73,780	72,439	82,877	1,21,083	50,603	58,651	65,292
Price To Earnings Price To Earnings	25.2	29.4	29.9	32.5	5.5	25.2	15.1	11.1	13.5	19.6	66.0	21.8
Price To Sales Price To Sales	4.8	5.8	6.2	4.8	0.8	2.5	2.4	2.3	2.6	1.0	1.3	1.4
Price To Book Price To Book	3.3	4.2	4.6	4.1	0.7	1.7	1.5	1.5	1.9	0.8	0.9	1.0
EV To EBITDA EV To EBITDA	220.3	232.6	141.0	-319.6	-142.4	-30.5	-91.4	34.7	43.3	-12.4	-9.6	-141.5
Profitability Ratios Profitability Ratios
FPM FPM%	2.8	2.6	5.5	-2.0	-1.7	-7.7	-1.8	6.0	6.7	-7.5	-11.8	-7.5
NPM NPM%	19.3	19.9	20.9	14.8	15.5	10.1	15.6	20.5	19.6	5.3	1.9	6.6
ROCE ROCE%	8.0	7.5	7.1	6.8	7.7	5.5	5.7	6.5	7.5	6.3	5.8	5.7
ROE ROE%	12.9	13.9	15.1	12.4	13.1	6.7	10.0	13.5	14.2	4.0	1.4	4.4
ROA ROA%	1.6	1.6	1.6	1.2	1.4	0.8	1.2	1.6	1.7	0.5	0.2	0.5
Solvency Ratios Solvency Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	57,571	84,306	1,07,776	1,07,405	24,354	73,780	72,439	82,877	1,21,083	50,603	58,651	65,292
Price To Earnings Price To Earnings	25.2	29.4	29.9	32.5	5.5	25.2	15.1	11.1	13.5	19.6	66.0	21.8
Price To Sales Price To Sales	4.8	5.8	6.2	4.8	0.8	2.5	2.4	2.3	2.6	1.0	1.3	1.4
Price To Book Price To Book	3.3	4.2	4.6	4.1	0.7	1.7	1.5	1.5	1.9	0.8	0.9	1.0
EV To EBITDA EV To EBITDA	220.3	232.6	141.0	-319.6	-142.4	-30.5	-91.4	34.7	43.3	-12.4	-9.6	-141.5
Profitability Ratios Profitability Ratios
FPM FPM%	2.8	2.6	5.5	-2.0	-1.7	-7.7	-1.8	6.0	6.7	-7.5	-11.8	-7.5
NPM NPM%	19.3	19.9	20.9	14.8	15.5	10.1	15.6	20.5	19.6	5.3	1.9	6.6
ROCE ROCE%	8.0	7.5	7.1	6.8	7.7	5.5	5.7	6.5	7.5	6.3	5.8	5.7
ROE ROE%	12.9	13.9	15.1	12.4	13.1	6.7	10.0	13.5	14.2	4.0	1.4	4.4
ROA ROA%	1.6	1.6	1.6	1.2	1.4	0.8	1.2	1.6	1.7	0.5	0.2	0.5
Solvency Ratios Solvency Ratios

	KOTAKBANK	AXISBANK	FEDERALBNK	INDUSINDBK	IDFCFIRSTB	RBLBANK	YESBANK
Market CapitalizationMkt CapCr	4,59,194	3,78,983	84,008	65,292	62,099	54,504	47,555
Close PriceClose₹	461.60	1,217.00	339.70	838.00	72.00	351.00	15.15
IndustryIndustry	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks
Price To EarningsPE	21.38	12.63	16.14	21.75	20.75	25.05	11.39
Price To SalesPS	6.24	2.68	2.66	1.44	1.41	3.51	1.49
RevenueRevenueCr	73,545	1,41,510	31,552	45,484	43,944	15,550	31,919
Revenue Growth TTMRev Gr TTM%	8.4%	9.5%	9.8%	-3.9%	14.6%	11.4%	4.8%
PAT Growth TTMPAT Gr TTM%	16.3%	15.0%	33.7%	495.1%	109.2%	122.7%	47.9%

	KOTAKBANK	AXISBANK	FEDERALBNK	INDUSINDBK	IDFCFIRSTB	RBLBANK	YESBANK
Market CapitalizationMkt CapCr	4,59,194	3,78,983	84,008	65,292	62,099	54,504	47,555
Close PriceClose₹	461.60	1,217.00	339.70	838.00	72.00	351.00	15.15
IndustryIndustry	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks
Price To EarningsPE	21.38	12.63	16.14	21.75	20.75	25.05	11.39
Price To SalesPS	6.24	2.68	2.66	1.44	1.41	3.51	1.49
RevenueRevenueCr	73,545	1,41,510	31,552	45,484	43,944	15,550	31,919
Revenue Growth TTMRev Gr TTM%	8.4%	9.5%	9.8%	-3.9%	14.6%	11.4%	4.8%
PAT Growth TTMPAT Gr TTM%	16.3%	15.0%	33.7%	495.1%	109.2%	122.7%	47.9%

FY2026

FY2024

FY2023

FY2022

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FY2026

Sep 26

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Jun 26

Result PPT Transcript Summary

Mar 26