Kotak Mahindra Bank Ltd logo

Kotak Mahindra Bank Ltd

KOTAKBANK NSE

Key Fundamentals

LargecapPrivate BankBanks
Market Cap
3.8L Cr
Volatility
Moderate
P/E Ratio
19.45
EBITDA
₹27,025 Cr
Return on Equity
10.58%
Debt to Equity
0
Book Value
₹182.07
EPS
₹93.78
52W High
₹453.2
52W Low
₹345.5

Insights

Beta

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

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58 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

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.41,387 Cr.
  • Dividend payout has been low at 2.59% of profits over last 3 years
  • Working capital days have increased from 108 days to 154 days

Growth Rate

Revenue Growth
3.80% ↗
Net Income Growth
-12.60% ↘
Cash Flow Change
146.67% ↗
ROE
-24.05% ↘
ROCE
-14.90% ↘
EBITDA Margin (Avg.)
-6.26% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
AI opinion · based on fundamentals
Risk medium

Kotak Mahindra Bank trades at a market cap of Rs.3,78,117 Cr with a P/E of 19.5x and P/B of 2.08x. The bank has delivered 14% ROE over 5 years but saw a decline to 11% last year, while TTM profit growth turned negative at -13% despite a long-term compounded profit CAGR of 19% over 10 years.

Bull Case 7
  • Strong long-term profit compounding at 19% CAGR over 10 years demonstrates consistent earnings power
  • Compounded sales growth of 16% over 5 years and 13% over 10 years shows sustained revenue expansion
  • P/E of 19.5x is moderate for a large private bank, below historical premium valuations Kotak has commanded
  • Consistent ROE of 14% over 3, 5, and 10-year periods indicates stable return generation capability
  • Market cap of Rs.3,78,117 Cr reflects large-cap stability with deep institutional ownership and liquidity
  • P/B of 2.08x is reasonable for a bank with 14% long-term ROE, suggesting valuations have corrected from peaks
  • 5-year compounded profit CAGR of 14% outpaces the sales CAGR of 16%, indicating operating leverage potential
Bear Case 8
  • TTM profit growth is negative at -13%, a sharp reversal from the 9% three-year CAGR
  • Contingent liabilities of Rs.10,54,268 Cr are extremely large relative to the bank's market cap of Rs.3,78,117 Cr
  • Stock CAGR of -13% over 1 year and 0% over 3 years shows significant underperformance and investor disenchantment
  • ROE declined from a 3-year average of 14% to just 11% last year, indicating deteriorating capital efficiency
  • Working capital days increased from 108 days to 154 days, signaling worsening operational efficiency
  • Dividend payout of only 2.59% of profits over 3 years with a yield of just 0.17% offers negligible income to shareholders
  • Other income of Rs.41,387 Cr forms a significant portion of earnings, raising questions about core operating quality
  • Low interest coverage ratio flagged as a concern, unusual for a large private sector bank

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

AI News Digest

Anthropic anthropic claude-opus-4.6 7h ago
Headwinds 2
  • FY26 net profit falls 14.8% Jun 18

    Kotak Mahindra Bank reported a 14.8% decline in net profit to ₹14,007.70 crore for FY26, raising concerns about earnings momentum despite deposit growth of 14.7%.

  • CEO Vaswani stepping down Dec 2026 Jun 27

    MD & CEO Ashok Vaswani will not seek re-appointment when his term ends on December 31, 2026, citing personal reasons. Leadership transition adds uncertainty.

Positives 2
  • Deutsche Bank India retail acquisition Jun 30

    Kotak Bank signed a pact to acquire Deutsche Bank's retail, private, and wealth management units for ₹281.7 crore, adding ₹29,000 crore advances and ₹16,000 crore deposits.

  • Q1FY26 advances up 15.1% YoY Jul 6

    Net advances rose 15.1% YoY to ₹5,12,171 crore and total deposits grew 11.7% YoY to ₹5,72,822 crore in Q1FY26, showing healthy balance sheet expansion.

Neutral 5
  • Q1FY27 earnings call July 18 Jul 14

    Kotak Bank will host a conference call on July 18, 2026, to discuss Q1FY27 results. Investors can dial in for details.

  • Dividend record date July 17 Jul 6

    Record date for FY26 final dividend set as July 17, 2026, with AGM scheduled for August 1, 2026.

  • Rs 9,587 crore loan transfer done Jul 2

    Completed direct assignment of ₹9,587.62 crore loan portfolio from subsidiary Kotak Mahindra Investments Ltd, aligning with RBI directions and group simplification.

  • No promoter share encumbrance Jul 4

    Confirmed zero encumbrance on promoter shareholding as on March 31, 2026, disclosed under SEBI regulations.

  • NCD interest paid on schedule Jun 23

    Paid ₹143.07 crore interest on NCDs due June 23, 2026, on bonds carrying a 7.55% coupon rate.

TL;DR: Kotak Mahindra Bank is delivering solid loan and deposit growth (15.1% and 11.7% YoY respectively) and making a strategic inorganic move with the Deutsche Bank India retail acquisition. However, FY26 profitability declined 14.8% and an upcoming CEO transition in Dec 2026 introduces leadership uncertainty. The trend is mixed — growth metrics are healthy but earnings quality and leadership continuity need monitoring heading into Q1FY27 results on July 18.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue
11,982
12,869
13,717
14,495
15,156
15,837
16,427
16,633
16,772
17,248
17,199
17,507
17,827
Expenses
10,548
10,303
10,136
12,484
14,920
12,263
13,094
10,596
13,666
13,123
11,606
13,933
13,656
Financing Profit
-2,796
-2,269
-1,955
-3,975
-5,976
-3,231
-3,806
-1,133
-4,051
-3,402
-1,740
-3,811
-3,205
Fin. Margin %
-23%
-18%
-14%
-27%
-39%
-20%
-23%
-7%
-24%
-20%
-10%
-22%
-18%
Other Income
8,785
7,855
7,843
9,588
12,751
13,042
10,453
7,313
10,402
9,456
7,703
10,344
10,648
Interest
4,230
4,834
5,536
5,985
6,212
6,805
7,139
7,170
7,157
7,527
7,333
7,384
7,376
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
5,989
5,586
5,888
5,614
6,775
9,811
6,647
6,180
6,351
6,053
5,963
6,533
7,443
Tax %
24%
26%
25%
25%
23%
25%
25%
25%
23%
27%
25%
25%
27%
Net Profit
4,566
4,150
4,461
4,265
5,337
7,448
5,044
4,701
4,933
4,472
4,468
4,924
5,423
EPS in Rs
4.6
4.18
4.49
4.29
5.37
7.49
5.07
4.73
4.96
4.5
4.49
4.95
5.45
Gross NPA %
1.76%
1.75%
1.69%
1.68%
1.38%
1.39%
1.48%
1.51%
1.45%
—
—
—
—
Net NPA %
0.41%
0.43%
0.39%
0.36%
0.36%
0.38%
0.45%
0.44%
0.36%
—
—
—
—
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
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
Expenses
9,718
11,541
14,832
16,805
19,758
22,578
29,812
31,069
33,485
47,052
48,894
54,524
Financing Profit
-3,366
-2,263
-3,965
-4,141
-5,114
-5,005
-9,958
-8,882
-5,746
-13,382
-11,496
-14,362
Fin. Margin %
-25%
-11%
-18%
-16%
-17%
-15%
-30%
-26%
-14%
-24%
-18%
-21%
Other Income
8,152
7,631
11,660
13,682
16,148
16,892
23,588
25,311
25,991
38,037
41,426
41,387
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
Depreciation
237
345
362
383
458
465
461
480
599
792
941
1,032
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
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
22,126
19,288
EPS in Rs
3.94
3.77
5.37
6.51
7.55
8.98
10.08
12.18
15.03
18.32
22.26
19.39
Div. Payout %
2%
3%
2%
2%
2%
0%
2%
2%
2%
2%
2%
3%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
386
917
920
953
954
957
991
992
993
994
994
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
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
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
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
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
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
CWIP
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
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
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
Figures in ₹ Crores

Cash Flow

  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
CFO/OP
103
76
205
-89
52
454
270
455
41
236
139
316
Figures in ₹ Crores

Ratios

  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%

Shareholding Pattern

As of Mar 2026
DIIs 36.18%
FIIs 26.40%
Promoters 25.87%
Public 8.35%
Others 3.20%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
26.02%
26.00%
26.00%
25.99%
25.98%
25.97%
25.96%
25.95%
25.95%
25.94%
25.93%
25.91%
25.90%
25.89%
25.89%
25.89%
25.88%
25.88%
25.88%
25.87%
25.87%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.00%
40.97%
0.00%
37.59%
33.16%
33.40%
32.48%
32.65%
32.34%
29.75%
29.36%
26.40%
DIIs
13.32%
14.40%
15.01%
15.21%
16.36%
17.11%
18.44%
20.12%
21.35%
19.61%
20.04%
19.65%
23.43%
27.73%
27.91%
28.79%
29.14%
29.61%
32.01%
32.88%
36.18%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
8.86%
9.27%
8.95%
9.08%
9.65%
9.16%
8.75%
8.77%
8.82%
8.25%
8.66%
8.61%
8.77%
9.00%
8.74%
8.64%
8.36%
8.43%
8.50%
8.50%
8.35%
Others
51.80%
50.32%
50.03%
49.72%
48.01%
47.76%
46.83%
45.14%
43.88%
46.20%
4.40%
45.83%
4.31%
4.23%
4.06%
4.20%
3.97%
3.73%
3.86%
3.39%
3.20%
No. of Shareholders
4,23,239
4,92,318
4,75,671
5,30,692
5,79,821
5,64,789
5,54,779
5,43,736
5,82,733
5,60,825
6,35,299
6,34,698
6,81,301
7,82,680
7,39,755
7,46,602
7,05,616
6,90,125
6,91,413
6,79,096
7,81,448

Documents

Frequently Asked Questions about Kotak Mahindra Bank Ltd

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 Insu...
Where is Kotak Mahindra Bank Ltd (KOTAKBANK) listed?
Kotak Mahindra Bank Ltd is listed on the Indian stock exchanges. It is listed on NSE: KOTAKBANK and BSE: 500247. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Kotak Mahindra Bank Ltd belong to?
Kotak Mahindra Bank Ltd operates in the Banks sector within the Private Bank industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Kotak Mahindra Bank Ltd?
Kotak Mahindra Bank Ltd has a market capitalisation of approximately ₹377569.48 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Kotak Mahindra Bank Ltd?
The Price-to-Earnings (PE) ratio of Kotak Mahindra Bank Ltd is 19.45. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Kotak Mahindra Bank Ltd?
Over the past 52 weeks, Kotak Mahindra Bank Ltd has traded between a low of ₹345.5 and a high of ₹453.2. This range helps investors understand the stock's price volatility and recent trading levels.
Does Kotak Mahindra Bank Ltd pay dividends?
Yes, Kotak Mahindra Bank Ltd has a dividend yield of 0.17%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Kotak Mahindra Bank Ltd?
Kotak Mahindra Bank Ltd has a Return on Equity (ROE) of 10.58%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Kotak Mahindra Bank Ltd on Tapetide?
On Tapetide, you can view Kotak Mahindra Bank Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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.[1]

Website kotak.com
CEO Mr. Ashok Valiram Vaswani
Employees 1,14,000
Listed 1995-12-20
Face Value ₹ 1
Issued Size 1,98,90,98,595

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