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Kotak Bank

Kotak Mahindra Bank Ltd

KOTAKBANK NSE
₹459.40 −5.25 (−1.13%)
P/E
21.29
View as Markdown
MCP
Close 4 Nov 2026 ₹459.40 +42.76 +10.3% 1Y
Start ₹416.64

Key Fundamentals

LargecapBanksFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

EPS (TTM)
₹21.58
Book Value
₹195.73
Market Cap
—
P/E (TTM)
21.29
P/B
2.35
ROE
11.40%
Dividend Yield
0.14%
52W High
₹465.95
52W Low
₹345.50
Day Range
₹456.35 – ₹465.45
Volume
2,20,86,206
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
Debt to Equity
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › Banks › Private Sector Bank

Kotak Bank peer comparison
HDFC Bank
₹736.7014.16₹11,37,598 Cr1.882.48%13.60%—₹3,59,956 Cr₹83,685 Cr
ICICI Bank
₹1,424.1017.28₹10,25,874 Cr2.670.84%15.90%—₹2,06,190 Cr₹62,827 Cr
Kotak Bank (this company)
₹459.4021.29₹4,58,686 Cr2.350.14%11.40%—₹73,545 Cr₹21,472 Cr
Axis Bank
₹1,232.0012.79₹3,83,779 Cr1.670.08%13.10%—₹1,41,510 Cr₹30,038 Cr
IDBI Bank
₹79.2910.26₹83,815 Cr1.322.70%14.10%—₹30,953 Cr₹8,329 Cr
Federal Bank
₹335.2015.94₹81,875 Cr2.010.36%11.60%—₹31,552 Cr₹5,387 Cr
Indusind Bank
₹865.1550.98₹66,694 Cr1.000.18%1.36%—₹45,297 Cr₹1,322 Cr
Median 7 companies₹736.7015.94₹3,83,779 Cr1.880.36%13.10%—₹73,545 Cr₹21,472 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 100/100

Category scores

Quality
50
Average
Returns, margins, earnings quality 22% weight
Valuation
23
Poor
Cheap vs sector & own history 24% weight
Growth
60
Good
Sales & profit trajectory 9% weight
Financial Health
99
Strong
Solvency, leverage, coverage 9% weight
Momentum
80
Strong
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

6
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 13.7% over last 3 years.
  • Contingent liabilities of Rs.10,54,268 Cr.
  • Earnings include an other income of Rs.42,277 Cr.
  • Dividend payout has been low at 2.59% of profits over last 3 years
  • Working capital days have increased from 97.7 days to 145 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2413
OscillatorsBullish243
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
64.03
Neutral
MACD (12,26,9)
10.04
Bullish
SMA (50)
427.44
Bullish
SMA (200)
401.06
Bullish

As of

Analyst Rating

Based on 37 analysts
BUY86%

32 of 37 analysts rate Buy, 4 Hold, 1 Sell.

As of

BUY
32
86%
HOLD
4
11%
SELL
1
3%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+13.09%
5Y+16.28%
3Y+18.30%
1Y+6.26%
TTM+8.39%

Net profit

Net profit growth by window
10Y+18.53%
5Y+14.06%
3Y+8.92%
1Y−12.83%
TTM+15.60%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹22,324 Cr
Mar 2018₹25,131 Cr
Mar 2019₹29,831 Cr
Mar 2020₹33,474 Cr
Mar 2021₹32,820 Cr
Mar 2022₹33,740 Cr
Mar 2023₹42,151 Cr
Mar 2024₹56,237 Cr
Mar 2025₹65,669 Cr
Mar 2026₹69,781 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹5,019 Cr
Mar 2018₹6,258 Cr
Mar 2019₹7,204 Cr
Mar 2020₹8,593 Cr
Mar 2021₹9,990 Cr
Mar 2022₹12,089 Cr
Mar 2023₹14,925 Cr
Mar 2024₹18,213 Cr
Mar 2025₹22,126 Cr
Mar 2026₹19,288 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EPS
₹4.54 −20.1% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Kotak Mahindra Bank trades at ₹458.35 with a market cap of ₹4,61,024 Cr, a P/E of 21.24x and P/B of 2.34x as of 2026-11-02. The bank has delivered 19% compounded profit growth over 10 years but faces headwinds from a declining ROE trajectory and significant contingent liabilities of ₹10,54,268 Cr.

Bull Case 7
  • Strong long-term profit compounding at 19% over 10 years demonstrates sustained earnings power across economic cycles
  • Compounded sales growth of 16% over 5 years and 18% over 3 years reflects healthy revenue expansion and improving market share
  • Stock is trading near its 52-week high of ₹465.95 at ₹458.35, indicating positive price momentum and investor confidence
  • The stock has risen significantly from its 52-week low of ₹345.50, a recovery of roughly 33% from the bottom
  • 5-year compounded profit growth of 14% alongside 5-year sales growth of 16% shows the bank is growing both top and bottom lines in tandem
  • Consistent ROE averaging 14% over 3-year, 5-year and 10-year periods points to a durable franchise with stable return generation
  • TTM profit growth of 14% indicates the bank continues to deliver double-digit earnings growth in the most recent period
Bear Case 8
  • Contingent liabilities stand at ₹10,54,268 Cr, a massive figure relative to the bank's market cap of ₹4,61,024 Cr, posing potential off-balance-sheet risk
  • ROE has declined to 10.58% currently versus a 14% average over 5 and 10 years, suggesting deteriorating capital efficiency
  • Low interest coverage ratio indicates potential vulnerability if interest rate conditions shift unfavourably
  • Dividend payout of just 2.59% of profits over 3 years and a yield of only 0.14% offers negligible income return to shareholders
  • Working capital days have increased from 97.7 days to 145 days, a 48% deterioration that signals worsening asset-liability management efficiency
  • Earnings include other income of ₹42,277 Cr, raising questions about the quality and sustainability of reported profits
  • TTM sales growth has decelerated to 8% compared to the 3-year compounded rate of 18%, suggesting a meaningful revenue slowdown
  • Stock CAGR of just 2% over 5 years versus 10% over 10 years indicates the stock has significantly underperformed its own long-term trend in recent years

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Kotak Mahindra Bank is progressing on inorganic growth with CCI approval for the Deutsche Bank retail business acquisition, which could strengthen its wealth management franchise. No material headwinds emerged in this period. Debt levels remain modest. The near-term outlook hinges on final regulatory clearances for the Deutsche Bank deal and broader banking sector trends.

Positives 1
  • CCI clears Deutsche Bank deal Nov 3

    CCI approved Kotak Mahindra Bank's acquisition of Deutsche Bank's retail and wealth management business in India on a slump sale basis. Completion remains subject to BTA conditions and other regulatory approvals.

Neutral 1
  • ₹4,695 cr debt securities outstanding Oct 12

    Kotak Mahindra Bank reported ₹4,695 crore in outstanding debt securities as of September 30, 2026, across four bond series with coupons ranging from 7.55% to 7.85%.

Quarterly Results

₹ Cr
KOTAKBANK quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue
13,717
14,495
15,156
15,837
16,427
16,633
16,772
17,248
17,199
17,507
17,827
18,355
19,856
Expenses
10,136
12,484
14,920
12,263
13,094
10,596
13,666
13,123
11,606
13,933
13,656
14,857
13,216
Financing Profit
−1,955
−3,975
−5,976
−3,231
−3,806
−1,133
−4,051
−3,402
−1,740
−3,811
−3,205
−4,205
−2,041
Fin. Margin %
−14%
−27%
−39%
−20%
−23%
−7%
−24%
−20%
−10%
−22%
−18%
−23%
−10%
Other Income
7,843
9,588
12,751
13,042
10,453
7,313
10,402
9,456
7,703
10,344
10,648
11,714
9,571
Interest
5,536
5,985
6,212
6,805
7,139
7,170
7,157
7,527
7,333
7,384
7,376
7,703
8,681
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
5,888
5,614
6,775
9,811
6,647
6,180
6,351
6,053
5,963
6,533
7,443
7,509
7,530
Tax %
25%
25%
23%
25%
25%
25%
23%
27%
25%
25%
27%
27%
25%
Net Profit
4,461
4,265
5,337
7,448
5,044
4,701
4,909
4,472
4,446
4,904
5,402
5,487
5,634
EPS (₹)
4.49
4.29
5.37
7.49
5.07
4.73
4.96
4.5
4.49
4.95
5.45
5.51
5.67
Gross NPA %
1.69%
1.68%
1.38%
1.39%
1.48%
1.51%
1.45%
—
—
—
—
—
—
Net NPA %
0.39%
0.36%
0.36%
0.38%
0.45%
0.44%
0.36%
—
—
—
—
—
—

Profit & Loss

₹ Cr
KOTAKBANK profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
13,319
20,402
22,324
25,131
29,831
33,474
32,820
33,740
42,151
56,237
65,669
69,781
73,545
Expenses
9,718
11,541
14,832
16,805
19,758
22,578
29,812
31,069
33,485
47,052
48,701
51,303
55,662
Financing Profit
−3,366
−2,263
−3,965
−4,141
−5,114
−5,005
−9,958
−8,882
−5,746
−13,382
−11,303
−11,142
−13,261
Fin. Margin %
−25%
−11%
−18%
−16%
−17%
−15%
−30%
−26%
−14%
−24%
−17%
−16%
−18%
Other Income
8,152
7,631
11,660
13,682
16,148
16,892
23,588
25,311
25,991
38,037
41,233
38,166
42,277
Interest
6,966
11,123
11,458
12,467
15,187
15,901
12,967
11,553
14,411
22,567
28,271
29,620
31,143
Depreciation
237
345
362
383
458
465
461
480
599
792
941
1,032
0
PBT
4,550
5,024
7,332
9,158
10,576
11,422
13,168
15,948
19,646
23,863
28,989
25,993
29,016
Tax %
33%
32%
32%
33%
33%
25%
25%
25%
25%
25%
24%
26%
—
Net Profit
3,105
3,524
5,019
6,258
7,204
8,593
9,990
12,089
14,925
18,213
21,946
19,181
21,473
EPS (₹)
3.94
3.77
5.37
6.51
7.55
8.98
10.08
12.18
15.03
18.32
22.26
19.39
21.58
Div. Payout %
2%
3%
2%
2%
2%
0%
2%
2%
2%
2%
2%
3%
—

Balance Sheet

₹ Cr
KOTAKBANK balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
386
917
920
953
954
957
991
992
993
994
994
995
995
Reserves
21,770
32,447
37,572
49,535
56,827
65,680
83,348
95,673
1,10,821
1,28,978
1,56,495
1,80,231
1,93,711
Borrowing
31,415
43,730
49,690
58,604
66,939
66,077
48,239
55,648
57,534
75,106
97,622
95,394
1,23,120
Deposits
72,843
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
6,47,459
Other Liabilities
22,049
27,761
32,465
37,392
45,626
50,059
67,405
84,097
89,809
1,17,321
1,29,995
1,59,793
1,59,118
Total Liabilities
1,48,464
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
8,79,814
10,03,353
11,24,402
Fixed Assets
1,385
1,761
1,759
2,543
2,697
2,675
2,554
2,723
3,075
3,510
3,759
3,801
2,850
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
0
Investments
45,589
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
3,35,776
Other Assets
1,01,490
1,68,769
2,05,967
2,44,201
2,88,987
3,29,301
3,19,355
3,79,245
4,22,017
5,17,711
5,91,801
7,08,919
7,85,776
Total Assets
1,48,464
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
8,79,814
10,03,353
11,24,402

Cash Flow

₹ Cr
KOTAKBANK cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,302
5,025
13,222
−10,392
1,822
46,619
4,881
8,418
−1,242
15,685
16,916
41,727
Investing
−4,467
−2,353
−5,289
−5,475
−3,323
−13,068
−11,172
−11,018
−10,381
−8,919
−25,226
−16,159
Financing
2,426
2,024
6,055
14,679
8,365
−735
−10,072
7,549
1,883
15,515
22,165
−2,538
Net Cash Flow
260
4,696
13,989
−1,188
6,864
32,815
−16,363
4,949
−9,740
22,281
13,855
23,029
Free Cash Flow
2,034
4,714
12,840
−10,758
1,331
46,206
4,581
7,785
−2,203
14,593
15,768
40,690

Ratios

KOTAKBANK financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
15%
12%
14%
14%
13%
14%
13%
13%
14%
15%
15%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Kotak Bank insights

91 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 38.54%
  • Promoters 25.87%
  • FIIs 24.65%
  • Public 8.23%
  • Others 2.71%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Kotak Bank

What does Kotak Mahindra Bank Ltd do?
Kotak Mahindra Bank is a diversified financial services group providing a wide range of banking and financial services including Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, Advisory services, Asset Management, Life Insurance and General…
Where is Kotak Mahindra Bank Ltd (KOTAKBANK) listed?
Kotak Mahindra Bank Ltd trades as KOTAKBANK on the NSE and under code 500247 on the BSE.
Which sector does Kotak Mahindra Bank Ltd belong to?
Kotak Mahindra Bank Ltd is classified under the Financial Services sector, in the Banks industry.
What is the PE ratio of Kotak Mahindra Bank Ltd?
Kotak Mahindra Bank Ltd trades at a PE ratio of 21.29 as of 4 Nov 2026, on earnings per share of ₹21.58, against a book value of ₹195.73 per share.
What is the 52-week high and low of Kotak Mahindra Bank Ltd?
Over the last 52 weeks Kotak Mahindra Bank Ltd has traded between ₹345.5 and ₹465.95 as of 4 Nov 2026.
Does Kotak Mahindra Bank Ltd pay dividends?
Kotak Mahindra Bank Ltd has a dividend yield of 0.14%.
What is the Return on Equity (ROE) of Kotak Mahindra Bank Ltd?
Kotak Mahindra Bank Ltd reported a return on equity of 11.40%.

Company Information

Kotak Mahindra Bank is a diversified financial services group providing a wide range of banking and financial services including Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, Advisory services, Asset Management, Life Insurance and General Insurance.

Website kotak.com
CEO Mr. Ashok Valiram Vaswani
Employees 1,14,000
Listed 20 Dec 1995
Face Value ₹1

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