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Kotak Mahindra Bank Ltd

KOTAKBANK

NSE

₹442.30-1.14%19 Oct 2026

Reports

Private Banks

Kotak Mahindra Bank Ltd

KOTAKBANK

NSE

₹442.30

-1.14%

19 Oct 2026

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Private Banks

Indices

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.

Kotak Mahindra Bank is a financial conglomerate that makes and sells virtually every financial product an Indian household or business could need - from savings accounts and tractor loans to life insurance and merger advice - all under one roof. It was started in 1985 by Uday Kotak with three people and a 300-square-foot office, and it converted from a non-bank lender into a full commercial bank in 2003. The recurring idea that explains the whole structure is that the group runs four “engines” - banking and lending, capital markets, asset management, and insurance - and keeps every subsidiary 100% owned so that profits stay inside the group no matter which engine is firing hardest in a given cycle.

Business segments

Five engines at different stages - a deposit-and-lending core that funds the rest, a commercial-finance arm deep in rural India, a wholesale bank serving companies, and two fast-growing fee engines in capital markets and asset management, all feeding customers to one another.

1. Consumer banking and digital: the deposit factory and retail lending core

The bank gathers low-cost deposits from over 52 million customers - largely through a digital-only unit that opens an account every five seconds - and uses that cheap funding to write home loans, personal loans, and credit cards.

A digital bank inside the bank - Kotak811 is a standalone unit with its own engineering, data-science and product teams, built to acquire customers entirely through a mobile app with no branch visit required. It runs on a cloud-native tech stack being rebuilt layer-by-layer, and roughly half its staff are engineers, data scientists or designers.
Deposits are the real product - 78% of the bank’s total deposits come from current accounts, savings accounts and term deposits under ₹5 crore, giving it a cost of funds that dropped to 4.54% in the December 2025 quarter. The savings-account base alone splits into a fixed-rate book of ₹1,32,369 crore and a floating-rate book of ₹13,707 crore.
Mortgages anchor the loan book - home loans and loans against property together make up ₹1,50,504 crore of consumer advances, with home loans aimed at affluent buyers and loans against property largely serving small-business customers.
Cards and unsecured loans as engagement tools - credit cards are treated as a way to deepen customer relationships and gather spending data, not just a lending product; the bank’s card market share by number of outstanding cards grew from 4.2% to 5.8% through March 2023.

2. Commercial banking: financing the machinery of rural India

The bank is the country’s second-largest tractor financier and a top-five player in commercial-vehicle and construction-equipment loans, using a secured, fixed-rate lending model that doubles as priority-sector lending for regulatory credit.

Tractor loans with a 600-district footprint - the tractor book stands at ₹20,084 crore with a 10.9% market share, and roughly 90% of those loans qualify as priority-sector lending. Small and marginal farmers make up more than three-quarters of the borrower base.
Trucks and bulldozers as an entry point - the commercial-vehicle and construction-equipment book is ₹45,906 crore, built on relationships with dealers and original equipment manufacturers; the bank holds a 4.7% share in CV financing and 7.4% in CE.
Microfinance through a unified national franchise - two acquired microfinance institutions, BSS and Sonata, were merged in October 2025 to create a single business-correspondent network with 1,499 branches serving roughly 23 lakh women borrowers, 99% of whom take loans for income-generating activities.
Agri-business goes beyond loans - the Agri Business Group sells working-capital finance, transaction banking, investments and insurance to agricultural processors and farmers, and it funded solar-powered pump sets as part of the bank’s green-energy initiatives.

3. Wholesale, corporate and institutional banking: the flow-and-fee engine

The wholesale bank lends to companies from small enterprises to large conglomerates, but its real focus is on generating fee income from cash management, trade finance, foreign exchange and custody services rather than just earning interest on loans.

Small and medium enterprises are the backbone - the combined SME book across the group was ₹1.16 lakh crore in the December 2025 quarter, growing 17% year-on-year, and the bank describes SME as “the backbone of Kotak”. The SME proposition bundles working capital, supply-chain finance, cash management and foreign exchange.
A digital trade-finance platform that reads tax data - EwayGo, the supply-chain finance platform, integrates with the GST network to auto-populate trade data so that financing can be delivered with almost no paperwork. The corporate portal Fyn grew its customer base 72% in FY25 by automating working-capital disbursements and dealer financing.
Custody as a quiet franchise - the bank is one of India’s largest home-grown custodians, serving offshore and domestic asset managers from the Middle East, North America, Europe and the Far East, and it is investing to capture business from funds setting up in Gujarat’s GIFT City tax-neutral zone.
Stressed-asset turnarounds as a niche - the Asset Reconstruction Division has been buying and resolving distressed corporate, SME and retail loans for almost two decades, providing financing that helps get stressed companies back into the mainstream banking system.

4. Capital markets: the deal-making and trading engine

The group runs a top-ranked investment bank and a full-service retail and institutional broker, capturing fees from India’s equity-raising boom and trading volumes.

Number one in equity deals - Kotak Mahindra Capital Company ranked first in equity capital market transactions for calendar year 2024 for the third consecutive year, and it was among the top 10 globally by deal count. In a single quarter it managed 11 IPOs and three QIPs raising roughly ₹74,000 crore.
A broker that went DIY - Kotak Securities’ overall market share rose to 13.5% in the March 2026 quarter, and 97% of all orders are now self-executed by customers on the Neo app rather than placed through a dealer. The app has crossed 10 million downloads on the Play Store.
Institutional equities as a tier-1 franchise - the institutional broking desk holds a top-tier ranking with most global foreign portfolio investors and with leading domestic mutual funds and insurers; its research covers 286 stocks representing about 84% of India’s market capitalisation.

5. Asset management and insurance: the fee-and-float compounders

The group manages money for retail and institutional investors across mutual funds, alternative assets and pension funds, and it manufactures life insurance policies - two businesses that generate stable fee income and long-duration float.

Fifth-largest mutual fund in India - Kotak AMC had average assets under management of ₹5,99,283 crore in the March 2026 quarter, with equity AUM of ₹3,78,706 crore and monthly SIP inflows of ₹2,116 crore. It leads the arbitrage-fund category by AUM.
A multi-asset alternatives platform - Kotak Alternate Asset Managers has raised USD 11.5 billion since inception across private credit, real estate, infrastructure and private equity, and it typically commits 10-15% of its own capital to each fund. Sixty percent of its deals are sourced without a competitive auction.
Life insurance with a ₹1-lakh-crore investment pool - Kotak Life Insurance crossed ₹1,03,156 crore in AUM, writes a balanced mix of participating, non-participating, unit-linked and annuity products, and settles 99.5% of individual claims. Its solvency ratio is 2.21x.
Pension fund with top-quartile performance - Kotak Mahindra Pension Fund manages nine NPS schemes and ranks among the top two private-sector pension fund managers on equity returns over one, three, five, seven and ten-year periods.

Group structure and partners

The bank owns 100% of 19 subsidiaries, so every rupee of profit from broking, asset management, insurance and vehicle finance stays inside the group, and the structure lets each business keep its own regulatory capital while the parent consolidates the earnings.

Subsidiaries contribute nearly a third of profit - non-bank subsidiaries generated 30% of consolidated profit in the December 2025 quarter.
Vehicle finance sits in Kotak Mahindra Prime - a wholly owned subsidiary that is India’s leading car-finance company since 1996, with customer assets of ₹44,933 crore, of which vehicle loans are ₹35,898 crore.
The general-insurance business was partly sold to Zurich - Zurich Insurance acquired a 70% stake in the former Kotak General Insurance in June 2024 for roughly ₹5,560 crore; the bank retains 30% and the company was renamed Zurich Kotak General Insurance.
A large private-banking acquisition is underway - in June 2026 the bank agreed to buy Deutsche Bank’s retail banking, private-banking and wealth-management business in India, which would bring roughly ₹29,000 crore in loans, ₹16,000 crore in deposits and ₹10,500 crore of assets under management serving about 1,50,000 customers.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Mkt Cap

Market Capitalization

₹4,39,995Cr

Close Price

₹442.30

Industry

Private Banks

Price To Earnings

21.68

Price To Sales

6.21

Revenue

₹70,887Cr

Rev Gr TTM

Revenue Growth TTM

5.68%

PAT Gr TTM

PAT Growth TTM

6.66%

Upcoming Results on

24 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13,717	14,495	15,156	15,837	16,427	16,633	16,772	17,248	17,199	17,507	17,827	18,355
Growth YoY Revenue Growth YoY%	37.3	31.6	26.5	23.1	19.8	14.8	10.7	8.9	4.7	5.3	6.3	6.4
Interest Expended Interest ExpendedCr	5,536	5,985	6,212	6,805	7,139	7,170	7,157	7,527	7,333	7,384	7,376	7,703
Expenses ExpensesCr	10,136	12,484	14,920	12,263	13,094	10,596	13,666	13,123	11,606	13,933	13,656	14,857
Financing Profit Financing ProfitCr	-1,955	-3,975	-5,976	-3,231	-3,806	-1,133	-4,051	-3,402	-1,740	-3,811	-3,205	-4,205
FPM FPM%	-14.3	-27.4	-39.4	-20.4	-23.2	-6.8	-24.2	-19.7	-10.1	-21.8	-18.0	-22.9
Other Income Other IncomeCr	7,843	9,588	12,751	9,239	10,453	7,313	10,402	9,456	7,703	10,344	10,280	11,714
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	5,888	5,614	6,775	9,811	6,647	6,180	6,351	6,053	5,963	6,533	7,443	7,509
Tax TaxCr	1,465	1,411	1,533	2,412	1,649	1,540	1,442	1,624	1,517	1,629	2,042	2,022
PAT PATCr	4,423	4,202	5,242	7,399	4,998	4,640	4,909	4,429	4,446	4,904	5,402	5,487
Growth YoY PAT Growth YoY%	23.6	6.1	15.7	80.1	13.0	10.4	-6.4	-40.1	-11.0	5.7	10.0	23.9
NPM NPM%	32.2	29.0	34.6	46.7	30.4	27.9	29.3	25.7	25.9	28.0	30.3	29.9
EPS EPS₹	4.5	4.3	5.3	7.5	5.1	4.7	5.0	4.5	4.5	5.0	5.5	5.5
Ratios Ratios

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	13,717	14,495	15,156	15,837	16,427	16,633	16,772	17,248	17,199	17,507	17,827	18,355
Growth YoY Revenue Growth YoY%	37.3	31.6	26.5	23.1	19.8	14.8	10.7	8.9	4.7	5.3	6.3	6.4
Interest Expended Interest ExpendedCr	5,536	5,985	6,212	6,805	7,139	7,170	7,157	7,527	7,333	7,384	7,376	7,703
Expenses ExpensesCr	10,136	12,484	14,920	12,263	13,094	10,596	13,666	13,123	11,606	13,933	13,656	14,857
Financing Profit Financing ProfitCr	-1,955	-3,975	-5,976	-3,231	-3,806	-1,133	-4,051	-3,402	-1,740	-3,811	-3,205	-4,205
FPM FPM%	-14.3	-27.4	-39.4	-20.4	-23.2	-6.8	-24.2	-19.7	-10.1	-21.8	-18.0	-22.9
Other Income Other IncomeCr	7,843	9,588	12,751	9,239	10,453	7,313	10,402	9,456	7,703	10,344	10,280	11,714
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	5,888	5,614	6,775	9,811	6,647	6,180	6,351	6,053	5,963	6,533	7,443	7,509
Tax TaxCr	1,465	1,411	1,533	2,412	1,649	1,540	1,442	1,624	1,517	1,629	2,042	2,022
PAT PATCr	4,423	4,202	5,242	7,399	4,998	4,640	4,909	4,429	4,446	4,904	5,402	5,487
Growth YoY PAT Growth YoY%	23.6	6.1	15.7	80.1	13.0	10.4	-6.4	-40.1	-11.0	5.7	10.0	23.9
NPM NPM%	32.2	29.0	34.6	46.7	30.4	27.9	29.3	25.7	25.9	28.0	30.3	29.9
EPS EPS₹	4.5	4.3	5.3	7.5	5.1	4.7	5.0	4.5	4.5	5.0	5.5	5.5
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	20,402	22,324	25,131	29,935	33,474	32,820	33,740	42,151	56,237	65,669	69,781	70,887
Growth Revenue Growth%	53.2	9.4	12.6	19.1	11.8	-1.9	2.8	24.9	33.4	16.8	6.3	5.7
Interest Expended Interest ExpendedCr	11,123	11,458	12,467	15,187	15,901	12,967	11,553	14,411	22,567	28,271	29,620	29,795
Expenses ExpensesCr	11,541	14,832	16,805	19,758	22,578	29,812	31,069	33,485	47,052	48,701	51,303	54,053
Financing Profit Financing ProfitCr	-2,262	-3,965	-4,141	-5,010	-5,005	-9,958	-8,882	-5,746	-13,382	-11,303	-11,142	-12,961
FPM FPM%	-11.1	-17.8	-16.5	-16.7	-15.0	-30.3	-26.3	-13.6	-23.8	-17.2	-16.0	-18.3
Other Income Other IncomeCr	7,631	11,660	13,682	16,044	16,892	23,588	25,311	25,991	38,037	41,233	38,166	40,041
Depreciation DepreciationCr	345	362	383	458	465	461	480	599	792	941	1,032	0
PBT PBTCr	5,024	7,332	9,158	10,576	11,422	13,168	15,948	19,646	23,863	28,989	25,993	27,448
Tax TaxCr	1,593	2,383	3,011	3,456	2,815	3,265	4,016	4,866	5,887	7,043	6,812	7,210
PAT PATCr	3,524	5,019	6,258	7,204	8,593	9,990	12,089	14,925	18,213	22,126	19,288	20,239
Growth PAT Growth%	13.5	42.4	24.7	15.1	19.3	16.3	21.0	23.5	22.0	21.5	-12.8	6.7
NPM NPM%	17.3	22.5	24.9	24.1	25.7	30.4	35.8	35.4	32.4	33.7	27.6	28.6
EPS EPS₹	3.8	1.5	6.5	7.5	8.9	10.1	12.2	15.0	18.3	22.3	19.4	20.4

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	20,402	22,324	25,131	29,935	33,474	32,820	33,740	42,151	56,237	65,669	69,781	70,887
Growth Revenue Growth%	53.2	9.4	12.6	19.1	11.8	-1.9	2.8	24.9	33.4	16.8	6.3	5.7
Interest Expended Interest ExpendedCr	11,123	11,458	12,467	15,187	15,901	12,967	11,553	14,411	22,567	28,271	29,620	29,795
Expenses ExpensesCr	11,541	14,832	16,805	19,758	22,578	29,812	31,069	33,485	47,052	48,701	51,303	54,053
Financing Profit Financing ProfitCr	-2,262	-3,965	-4,141	-5,010	-5,005	-9,958	-8,882	-5,746	-13,382	-11,303	-11,142	-12,961
FPM FPM%	-11.1	-17.8	-16.5	-16.7	-15.0	-30.3	-26.3	-13.6	-23.8	-17.2	-16.0	-18.3
Other Income Other IncomeCr	7,631	11,660	13,682	16,044	16,892	23,588	25,311	25,991	38,037	41,233	38,166	40,041
Depreciation DepreciationCr	345	362	383	458	465	461	480	599	792	941	1,032	0
PBT PBTCr	5,024	7,332	9,158	10,576	11,422	13,168	15,948	19,646	23,863	28,989	25,993	27,448
Tax TaxCr	1,593	2,383	3,011	3,456	2,815	3,265	4,016	4,866	5,887	7,043	6,812	7,210
PAT PATCr	3,524	5,019	6,258	7,204	8,593	9,990	12,089	14,925	18,213	22,126	19,288	20,239
Growth PAT Growth%	13.5	42.4	24.7	15.1	19.3	16.3	21.0	23.5	22.0	21.5	-12.8	6.7
NPM NPM%	17.3	22.5	24.9	24.1	25.7	30.4	35.8	35.4	32.4	33.7	27.6	28.6
EPS EPS₹	3.8	1.5	6.5	7.5	8.9	10.1	12.2	15.0	18.3	22.3	19.4	20.4

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
Equity Capital Equity CapitalCr	917	920	953	954	957	991	992	993	994	994	995
Reserves ReservesCr	32,443	37,570	49,533	56,825	65,678	83,346	95,642	1,10,761	1,28,898	1,56,401	1,80,118
Deposits DepositsCr	1,35,949	1,55,540	1,91,236	2,24,824	2,60,400	2,78,871	3,10,087	3,61,273	4,45,269	4,94,707	5,66,940
Borrowings BorrowingsCr	43,730	49,690	58,604	66,439	65,577	47,739	55,148	57,034	75,106	97,622	95,394
Other Liabilities Other LiabilitiesCr	27,764	32,467	37,395	46,128	50,562	67,907	84,629	90,369	1,17,400	1,30,050	1,59,906
Total Liabilities Total LiabilitiesCr	2,40,804	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	7,67,667	8,79,774	10,03,353
Fixed Assets Fixed AssetsCr	1,758	1,755	2,543	2,697	2,675	2,554	1,910	2,261	2,563	2,811	2,853
Investments InvestmentsCr	70,274	68,462	90,977	1,03,487	1,11,197	1,56,946	1,64,529	1,95,338	2,46,446	2,84,255	2,90,633
Advances AdvancesCr	1,57,169	1,80,379	2,19,800	2,57,722	2,64,754	2,70,897	3,25,952	3,78,486	4,51,873	5,12,739	6,06,291
Cash Equivalents Cash EquivalentsCr	11,599	25,589	24,401	31,264	64,080	47,717	52,665	42,925	65,206	79,062	1,02,091
Other Assets Other AssetsCr	3	3	0	0	467	741	1,442	1,419	1,580	908	1,485
Total Assets Total AssetsCr	2,40,804	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	7,67,667	8,79,774	10,03,353

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	917	920	953	954	957	991	992	993	994	994	995
Reserves ReservesCr	32,443	37,570	49,533	56,825	65,678	83,346	95,642	1,10,761	1,28,898	1,56,401	1,80,118
Deposits DepositsCr	1,35,949	1,55,540	1,91,236	2,24,824	2,60,400	2,78,871	3,10,087	3,61,273	4,45,269	4,94,707	5,66,940
Borrowings BorrowingsCr	43,730	49,690	58,604	66,439	65,577	47,739	55,148	57,034	75,106	97,622	95,394
Other Liabilities Other LiabilitiesCr	27,764	32,467	37,395	46,128	50,562	67,907	84,629	90,369	1,17,400	1,30,050	1,59,906
Total Liabilities Total LiabilitiesCr	2,40,804	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	7,67,667	8,79,774	10,03,353
Fixed Assets Fixed AssetsCr	1,758	1,755	2,543	2,697	2,675	2,554	1,910	2,261	2,563	2,811	2,853
Investments InvestmentsCr	70,274	68,462	90,977	1,03,487	1,11,197	1,56,946	1,64,529	1,95,338	2,46,446	2,84,255	2,90,633
Advances AdvancesCr	1,57,169	1,80,379	2,19,800	2,57,722	2,64,754	2,70,897	3,25,952	3,78,486	4,51,873	5,12,739	6,06,291
Cash Equivalents Cash EquivalentsCr	11,599	25,589	24,401	31,264	64,080	47,717	52,665	42,925	65,206	79,062	1,02,091
Other Assets Other AssetsCr	3	3	0	0	467	741	1,442	1,419	1,580	908	1,485
Total Assets Total AssetsCr	2,40,804	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	7,67,667	8,79,774	10,03,353

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	5,025	13,202	-10,392	1,822	46,619	4,881	8,418	-1,242	15,685	16,916	41,727
Investing Cash Flow Investing Cash FlowCr	-8,662	-5,268	-5,608	-3,383	-13,199	-11,116	-11,084	-10,550	-9,097	-25,272	-16,519
Financing Cash Flow Financing Cash FlowCr	2,024	6,055	14,679	8,365	-735	-10,072	7,549	1,883	15,515	22,165	-2,538
Net Cash Flow Net Cash FlowCr	4,696	13,989	-1,188	6,864	32,815	-16,363	4,949	-9,740	22,281	13,879	23,029
Free Cash Flow Free Cash FlowCr	4,714	12,820	-10,758	1,331	46,206	4,581	7,785	-2,203	14,593	15,768	40,690
CFO To EBITDA CFO To EBITDA%	-222.1	-332.9	251.0	-36.4	-931.5	-49.0	-94.8	21.6	-117.2	-149.7	-374.5

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	5,025	13,202	-10,392	1,822	46,619	4,881	8,418	-1,242	15,685	16,916	41,727
Investing Cash Flow Investing Cash FlowCr	-8,662	-5,268	-5,608	-3,383	-13,199	-11,116	-11,084	-10,550	-9,097	-25,272	-16,519
Financing Cash Flow Financing Cash FlowCr	2,024	6,055	14,679	8,365	-735	-10,072	7,549	1,883	15,515	22,165	-2,538
Net Cash Flow Net Cash FlowCr	4,696	13,989	-1,188	6,864	32,815	-16,363	4,949	-9,740	22,281	13,879	23,029
Free Cash Flow Free Cash FlowCr	4,714	12,820	-10,758	1,331	46,206	4,581	7,785	-2,203	14,593	15,768	40,690
CFO To EBITDA CFO To EBITDA%	-222.1	-332.9	251.0	-36.4	-931.5	-49.0	-94.8	21.6	-117.2	-149.7	-374.5

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	1,24,922	1,60,545	1,99,826	2,54,955	2,47,997	3,47,614	3,48,249	3,44,370	3,55,003	4,31,703	3,51,309	4,39,995
Price To Earnings Price To Earnings	36.1	32.5	32.2	35.4	28.9	34.9	28.9	23.1	19.5	19.5	18.2	21.7
Price To Sales Price To Sales	6.1	7.2	8.0	8.6	7.4	10.6	10.3	8.2	6.3	6.6	5.0	6.2
Price To Book Price To Book	3.7	4.2	4.0	4.4	3.7	4.1	3.6	3.1	2.7	2.7	1.9	2.4
EV To EBITDA EV To EBITDA	-69.4	-46.6	-56.5	-57.9	-49.9	-34.9	-39.5	-62.4	-27.3	-39.8	-30.9	-77.2
Profitability Ratios Profitability Ratios
FPM FPM%	-11.1	-17.8	-16.5	-16.7	-14.9	-30.3	-26.3	-13.6	-23.8	-17.2	-16.0	-18.3
NPM NPM%	17.3	22.5	24.9	24.1	25.7	30.4	35.8	35.4	32.4	33.7	27.6	28.6
ROCE ROCE%	7.6	7.7	7.2	7.4	7.0	6.4	6.0	6.4	7.1	7.6	6.6	6.6
ROE ROE%	10.6	13.0	12.4	12.5	12.9	11.8	12.5	13.4	14.0	14.1	10.7	10.7
ROA ROA%	1.5	1.8	1.9	1.8	1.9	2.1	2.2	2.4	2.4	2.5	1.9	1.9
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	1,24,922	1,60,545	1,99,826	2,54,955	2,47,997	3,47,614	3,48,249	3,44,370	3,55,003	4,31,703	3,51,309	4,39,995
Price To Earnings Price To Earnings	36.1	32.5	32.2	35.4	28.9	34.9	28.9	23.1	19.5	19.5	18.2	21.7
Price To Sales Price To Sales	6.1	7.2	8.0	8.6	7.4	10.6	10.3	8.2	6.3	6.6	5.0	6.2
Price To Book Price To Book	3.7	4.2	4.0	4.4	3.7	4.1	3.6	3.1	2.7	2.7	1.9	2.4
EV To EBITDA EV To EBITDA	-69.4	-46.6	-56.5	-57.9	-49.9	-34.9	-39.5	-62.4	-27.3	-39.8	-30.9	-77.2
Profitability Ratios Profitability Ratios
FPM FPM%	-11.1	-17.8	-16.5	-16.7	-14.9	-30.3	-26.3	-13.6	-23.8	-17.2	-16.0	-18.3
NPM NPM%	17.3	22.5	24.9	24.1	25.7	30.4	35.8	35.4	32.4	33.7	27.6	28.6
ROCE ROCE%	7.6	7.7	7.2	7.4	7.0	6.4	6.0	6.4	7.1	7.6	6.6	6.6
ROE ROE%	10.6	13.0	12.4	12.5	12.9	11.8	12.5	13.4	14.0	14.1	10.7	10.7
ROA ROA%	1.5	1.8	1.9	1.8	1.9	2.1	2.2	2.4	2.4	2.5	1.9	1.9
Solvency Ratios Solvency Ratios

	HDFCBANK	ICICIBANK	KOTAKBANK	AXISBANK	FEDERALBNK	INDUSINDBK	IDFCFIRSTB
Market CapitalizationMkt CapCr	10,97,804	9,91,543	4,39,995	3,84,874	86,263	67,256	65,822
Close PriceClose₹	712.00	1,381.00	442.30	1,236.00	348.85	863.20	76.33
IndustryIndustry	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks
Price To EarningsPE	13.68	16.75	21.68	12.83	16.57	50.87	29.36
Price To SalesPS	3.05	4.81	6.21	2.72	2.73	1.48	1.57
RevenueRevenueCr	3,59,956	2,06,190	70,887	1,41,510	31,552	45,297	41,958
Revenue Growth TTMRev Gr TTM%	4.0%	7.0%	5.7%	9.5%	9.8%	-6.4%	12.3%
PAT Growth TTMPAT Gr TTM%	11.5%	10.1%	6.7%	15.0%	33.7%	31.1%	77.1%

	HDFCBANK	ICICIBANK	KOTAKBANK	AXISBANK	FEDERALBNK	INDUSINDBK	IDFCFIRSTB
Market CapitalizationMkt CapCr	10,97,804	9,91,543	4,39,995	3,84,874	86,263	67,256	65,822
Close PriceClose₹	712.00	1,381.00	442.30	1,236.00	348.85	863.20	76.33
IndustryIndustry	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks	Private Banks
Price To EarningsPE	13.68	16.75	21.68	12.83	16.57	50.87	29.36
Price To SalesPS	3.05	4.81	6.21	2.72	2.73	1.48	1.57
RevenueRevenueCr	3,59,956	2,06,190	70,887	1,41,510	31,552	45,297	41,958
Revenue Growth TTMRev Gr TTM%	4.0%	7.0%	5.7%	9.5%	9.8%	-6.4%	12.3%
PAT Growth TTMPAT Gr TTM%	11.5%	10.1%	6.7%	15.0%	33.7%	31.1%	77.1%

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PPT Transcript Summary

Mar 26