Axis Bank Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other RetailBanking-Retail Banking: 36.6% • Corporate/Wholesale Banking: 28.3% • Treasury: 21.7%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 30.0% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 16.4%
- Asset quality is healthy - gross NPA of just 1.2%
- Strong return ratios for a lender: 3Y avg ROE 15.6%, ROA 1.6%
- Solid return on assets for a lender - ROA of 1.4%
CONS
- A large part of profit comes from other income (88.4% of PBT)
- Free cash flow has been persistently negative
- Though reporting repeated profits, the company pays out little dividend (1.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 708.00 | 13.81 | 1091323.88 | 2.19 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1379.15 | 17.65 | 989980.04 | 0.87 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 418.70 | 20.52 | 416508.36 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1247.50 | 13.98 | 388399.91 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 83.44 | 9.63 | 89718.04 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.40 | 18.18 | 85149.33 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1058.00 | 43.57 | 79454.72 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 977.80 | 57.61 | 76184.77 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.20 | 32.24 | 74319.14 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 23.47 | 19.52 | 73668.68 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 412.80 | 71.21 | 64022.78 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| KARURVYSYA | 333.85 | 11.76 | 32273.73 | 0.78 | 755.70 | 44.92 | 3049.42 | 18.72 | 23.62 | 71.82 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25,557 | 26,626 | 27,961 | 29,225 | 30,061 | 30,420 | 30,954 | 31,243 | 31,064 | 30,970 | 32,274 | 32,724 | 33,986 | |
| Interest Expended | 13,598 | 14,312 | 15,429 | 16,136 | 16,612 | 16,937 | 17,348 | 17,432 | 17,504 | 17,226 | 17,988 | 18,267 | 19,340 |
| Net Interest Income | 11,959 | 12,315 | 12,532 | 13,089 | 13,448 | 13,483 | 13,606 | 13,811 | 13,560 | 13,745 | 14,287 | 14,457 | 14,646 |
| 5,087 | 5,034 | 5,555 | 6,766 | 5,783 | 6,722 | 5,972 | 6,780 | 7,258 | 6,625 | 6,226 | 6,023 | 6,735 | |
| Total Income | 0 | 0 | 0 | 0 | 37,796 | 39,204 | 38,959 | 39,958 | 40,401 | 39,770 | 40,898 | 41,143 | 40,721 |
| Operating Expenses | 8,232 | 8,717 | 8,946 | 9,319 | 9,125 | 9,493 | 9,044 | 9,838 | 9,303 | 9,957 | 9,637 | 10,466 | 9,722 |
| Operating Profit | 8,814 | 8,632 | 9,141 | 10,536 | 10,106 | 10,712 | 10,534 | 10,752 | 11,515 | 10,413 | 10,876 | 10,013 | 11,659 |
| Provisions & Contingencies | 1,035 | 815 | 1,028 | 1,185 | 2,039 | 2,204 | 2,156 | 1,359 | 3,948 | 3,547 | 2,246 | 3,522 | 2,223 |
| Profit before Tax | 7,779 | 7,817 | 8,113 | 9,350 | 8,067 | 8,508 | 8,378 | 9,393 | 7,568 | 6,865 | 8,630 | 6,491 | 9,437 |
| Tax % | 25.48% | 24.99% | 25.17% | 23.75% | 25.19% | 18.70% | 24.76% | 24.23% | 23.28% | 25.87% | 24.80% | -8.94% | 24.61% |
| Net Profit | 5,797 | 5,864 | 6,071 | 7,130 | 6,035 | 6,918 | 6,304 | 7,118 | 5,806 | 5,090 | 6,490 | 7,071 | 7,114 |
| EPS | 19 | 19 | 20 | 23 | 20 | 22 | 20 | 23 | 19 | 16 | 21 | 23 | 2 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,09,369 | 1,22,677 | 1,27,032 | — | |
| Interest Expended | 26,449 | 27,163 | 33,278 | 37,429 | 34,107 | 34,245 | 42,218 | 59,474 | 68,329 | 70,984 | 72,820 |
| Net Interest Income | -26,449 | -27,163 | -33,278 | -37,429 | -34,107 | -34,245 | -42,218 | 49,894 | 54,348 | 56,048 | — |
| 11,691 | 10,967 | 13,130 | 15,537 | 12,264 | 15,221 | 16,143 | 22,442 | 25,257 | 26,131 | 25,608 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,31,811 | 1,47,934 | 1,53,163 | 1,62,532 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35,213 | 37,500 | 39,362 | — | |
| Operating Profit | -26,449 | -27,163 | -33,278 | -37,429 | -34,107 | -34,245 | -42,218 | 37,123 | 42,105 | 42,817 | — |
| 16,253 | 15,809 | 12,032 | 14,343 | 15,458 | 5,370 | 3,790 | 4,063 | 7,758 | 13,263 | — | |
| Profit before Tax | 5,468 | 122 | 6,974 | 4,904 | 8,806 | 17,383 | 16,906 | 33,060 | 34,347 | 29,554 | 31,423 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 24.80% | 23.21% | 17.25% | 18.01% |
| Net Profit | 3,679 | 276 | 4,677 | 1,627 | 6,589 | 13,025 | 9,580 | 24,861 | 26,373 | 24,457 | 25,764 |
| EPS | 0 | 1 | 18 | 6 | 22 | 42 | 31 | 81 | 85 | 79 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 15%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 30%
- 3 Years:
- 37%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 10%
- 3 Years:
- 8%
- 1 Year:
- 15%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 13%
- 3 Years:
- 16%
- Last Year:
- 13%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 479 | 513 | 514 | 564 | 613 | 614 | 615 | 617 | 619 | 622 |
| 55,284 | 62,932 | 66,162 | 84,384 | 1,00,990 | 1,14,412 | 1,24,378 | 1,49,618 | 1,77,997 | 2,03,573 | |
| 4,14,379 | 4,53,623 | 5,48,471 | 6,40,105 | 6,97,985 | 8,21,972 | 9,46,945 | 10,68,641 | 11,72,952 | 13,35,834 | |
| 1,05,031 | 1,48,016 | 1,52,776 | 1,47,954 | 1,42,873 | 1,85,134 | 1,86,300 | 1,96,812 | 1,84,147 | 2,35,271 | |
| Other Liabilities & Provisions | 26,295 | 26,245 | 33,073 | 42,158 | 44,336 | 53,149 | 58,664 | 60,694 | 73,106 | 1,10,209 |
| Total Liabilities | 6,01,468 | 6,91,330 | 8,00,997 | 9,15,165 | 9,86,798 | 11,75,429 | 13,17,326 | 148 | 161 | 189 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 30,858 | 35,481 | 35,099 | 84,959 | 51,809 | 94,035 | 66,118 | 86,077 | 73,638 | 78,627 | |
| Balances with Banks & Money at Call | 19,398 | 7,974 | 32,106 | 12,309 | 9,921 | 16,953 | 40,293 | 28,377 | 26,094 | 26,275 |
| 1,28,793 | 1,53,876 | 1,74,969 | 1,56,734 | 2,26,120 | 2,75,597 | 2,88,815 | 3,31,527 | 3,96,142 | 4,45,033 | |
| 3,73,069 | 4,39,650 | 4,94,798 | 5,71,424 | 6,14,399 | 7,07,947 | 8,45,303 | 9,65,068 | 10,40,811 | 12,33,570 | |
| 3,466 | 3,626 | 3,764 | 3,839 | 4,135 | 4,363 | 4,597 | 5,442 | 6,191 | 6,289 | |
| 45,602 | 50,377 | 59,988 | 85,425 | 80,304 | 76,325 | 72,063 | 60,474 | 66,953 | 96,795 | |
| Total Assets | 6,01,468 | 6,91,330 | 8,00,997 | 9,15,165 | 9,86,798 | 11,75,429 | 13,17,326 | 148 | 161 | 189 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 34,192 | -46,949 | 37,567 | 29,613 | 13,583 | 33,951 | 26,902 | 6,461 | 49,412 | -1,330 | |
| Cash from Investing | -12,630 | -10,244 | -18,737 | -9,767 | -54,107 | -27,352 | -33,022 | -9,258 | -52,009 | -45,842 |
| Cash from Financing | -4,629 | 50,401 | 4,931 | 10,118 | 5,059 | 42,538 | 1,239 | 10,761 | -12,288 | 51,495 |
| 16,933 | -6,793 | 23,762 | 29,964 | -35,466 | 49,137 | -4,881 | 7,964 | -14,885 | 4,322 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 15.36 | 1.07 | 18.19 | 5.77 | 21.50 | 42.43 | 31.13 | 80.55 | 85.15 | 78.69 |
| Book Value (₹) | 232.83 | 247.20 | 259.27 | 301.05 | 331.63 | 374.71 | 406.24 | 486.74 | 576.67 | 656.96 |
| Dividend per Share (₹) | 5.00 | 0.00 | 1.00 | 0.00 | 0.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.54% | 3.54% | 3.14% |
| ROA % | 0.64% | 0.04% | 0.63% | 0.19% | 0.69% | 1.20% | 0.77% | 1.78% | 1.71% | 1.40% |
| ROE % | 6.76% | 0.46% | 7.19% | 2.15% | 7.06% | 12.03% | 7.98% | 18.07% | 16.04% | 12.78% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 48.68% | 47.11% | 47.90% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.02% | 0.00% | 0.00% | 1.57% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.39% | 0.00% | 0.00% | 0.45% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 81.00% | 0.00% | 0.00% | 71.00% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 42.99% | 40.77% | 39.59% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.18% | 0.16% | 0.18% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 16.63% | 17.07% | 16.42% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | -55.26% | -92.51% | 1596.38% | -65.21% | 304.89% | 97.70% | -26.45% | 159.52% | 6.08% | -7.27% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 19.82% | 18.48% | 13.92% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 13.01x | 12.94x | 14.77x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.15x | 1.91x | 1.77x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.09% | 0.09% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Axis Bank Limited has informed the Exchange about Schedule of meet
2026-09-10 - Axis Bank Limited has informed the Exchange about Presentation
2026-09-09 - Axis Bank Limited has informed the Exchange about Presentation
2026-09-08 - Axis Bank Limited has informed the Exchange about Presentation
2026-09-08 - Axis Bank Limited has informed the Exchange regarding Allotment of 180899 Shares.
2026-09-07 - Axis Bank Limited has informed the Exchange about Schedule of meet
2026-09-03 - Axis Bank Limited has informed the Exchange about Schedule of meet
2026-09-02 - Axis Bank Limited has informed the Exchange about Presentation
2026-09-01 - Axis Bank Limited has informed the Exchange regarding Allotment of 162407 Shares.
News
Recent coverage and analyst commentary for AXISBANK
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