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The Federal Bank Ltd.

•
federal.bank.in.BSE: 500469NSE: FEDERALBNK
Market Cap₹ 85,149 Cr.
Current Price
High / Low₹ 372 / 189
Stock P/E18.2
Book Value₹ 161
Price to Book1.66
Dividend Yield0.35 %
ROCE11.0 %
ROE12.3 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 57.3% • Corporate / Whole sale Banking: 22.9% • Treasury: 12.6%

AI Sector View

AI GENERATED

Financial Services

Buy

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.

Confidence
84%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 22.2% CAGR over last 5 years
  • Comfortable capital adequacy - CAR of 17.2%
  • Asset quality is healthy - gross NPA of just 1.6%
  • Company has consistently been profitable over the last 5 years
  • Latest quarter profit grew 37.1% YoY, showing strong momentum
  • Company has delivered good sales growth of 15.7% CAGR over last 5 years

CONS

  • A large part of profit comes from other income (78.4% of PBT)
  • Equity base is being diluted - shares outstanding up 16.4%
  • Valuation is stretched - P/E of 18.2 is well above its own 5-year median (10.4)
  • Though reporting repeated profits, the company pays out little dividend (6.8%)
  • Growth is decelerating - 3Y profit CAGR (12.2%) trails the 5Y trend (22.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Private
Part ofNIFTYM150MOMNTM50NIFTY BANKNIFTY ALPHA 50NIFTY500MOMENTM50NIFTYLARGEMIDCAP250
S.No.Name
1.HDFCBANK708.0013.811091323.882.19203826.901092.64905753.30936.6612.8135.64
2.ICICIBANK1379.1517.65989980.040.8716209.7412.6252240.856.4416.5132.39
3.KOTAKBANK418.7020.52416508.360.165487.0623.8918354.576.4112.0519.05
4.AXISBANK1247.5013.98388399.910.087656.5122.3135541.969.8711.0463.88
5.IDBI83.449.6389718.040.002130.575.277549.287.4414.7676.80
6.FEDERALBNK344.4018.1885149.330.351297.6137.067861.589.9410.9866.11
7.AUBANK1058.0043.5779454.720.097959.531270.3153027.421111.1014.1756.24
8.INDUSINDBK977.8057.6176184.770.151037.0271.6811309.94-7.784.9755.07
9.IDFCFIRSTB86.2032.2474319.140.291147.82153.1211051.0914.615.4238.45
10.YESBANK23.4719.5273668.680.001071.8132.538054.495.928.0458.47
11.RBLBANK412.8071.2164022.780.242342.30993.4138402.401015.976.4940.95
12.KARURVYSYA333.8511.7632273.730.78755.7044.923049.4218.7223.6271.82
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
5,3505,7916,0856,3396,7287,0067,2657,1087,1517,2167,3607,9477,862
Interest Expended3,2553,5443,7603,9364,2124,3934,5704,4564,5404,4294,4014,4024,538
Net Interest Income2,0952,2472,3262,4032,5162,6122,6952,6512,6112,7872,9603,5453,324
7417579088109361,0109311,0471,1641,1051,1431,1861,082
Total Income00007,6648,0158,1968,1558,3158,3218,5039,1328,943
Operating Expenses000018,74919,52619,62021,02420,68721,22022,20422,5562,311
Operating Profit000015,77216,69216,64215,96417,07017,70018,82024,7522,094
Provisions & Contingencies00001,7291,9613,8741,6284,3723,9743,7457,617353
Profit before Tax1,2021,3431,4201,2961,4041,4731,2771,4341,2701,3731,5071,7141,741
Tax %25.84%25.51%25.11%24.97%25.94%25.02%25.70%22.69%25.44%25.73%25.44%18.69%25.47%
Net Profit00001,0401,1049491,1089471,0191,1241,3931,298
EPS4444444444451

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8,7839,91511,63513,59014,31414,38217,81223,56528,10629,674—
Interest Expended5,6536,2267,3168,6788,4357,9599,97514,49517,63117,77217,770
Net Interest Income3,1313,6884,3194,9125,8796,4227,8379,07110,47511,903—
1,0841,1601,3351,8821,9722,1212,4363,2163,9244,5984,515
Total Income9,86711,07512,97115,47216,28616,50220,24826,78232,03034,27234,900
2,2532,5052,8373,5473,8994,5925,2116,7677,8928,667—
Operating Profit1,9622,3442,8183,2473,9523,9515,0625,5216,5077,834—
6209518581,1871,7441,3057992609191,971—
Profit before Tax1,3421,3931,9602,0602,2092,6464,2635,2615,5885,8636,335
Tax %36.41%34.71%34.57%24.62%25.42%25.73%25.50%25.35%24.81%23.54%23.69%
Net Profit8539101,2831,5531,6471,9653,1763,9284,2014,4834,834
EPS55788915161718—

COMPOUNDED SALES GROWTH

10 Years:
14%
5 Years:
16%
3 Years:
19%

COMPOUNDED PROFIT GROWTH

10 Years:
24%
5 Years:
21%
3 Years:
11%

STOCK PRICE CAGR

10 Years:
17%
5 Years:
33%
3 Years:
34%
1 Year:
75%

RETURN ON EQUITY

10 Years:
12%
5 Years:
13%
3 Years:
13%
Last Year:
12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 14

₹ 0.60

Rs.1.2000 per share(60%)Final Dividend

2025

Aug 22

₹ 0.60

Rs.1.2000 per share(60%)Final Dividend

2024

Aug 23

₹ 0.60

Rs.1.2000 per share(60%)Final Dividend

2023

Aug 11

₹ 0.50

Rs.1.0000 per share(50%)Final Dividend

2022

Jul 19

₹ 0.90

Rs.1.8000 per share(90%)Final Dividend

2021

Jul 1

₹ 0.35

Rs.0.7000 per share(35%)Final Dividend

2018

Aug 2

₹ 0.50

Rs.1.0000 per share(50%)Final Dividend

2017

Jul 3

₹ 0.45

Rs.0.9000 per share(45%)Dividend

2016

Jul 29

₹ 0.35

Rs.0.7000 per share(35%)Dividend

2026

Jul 20

₹ 0.60

Rs.1.2000 per share(60%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
LIABILITIES----------
Equity Capital345394397399399421423487491493
8,60711,88013,10114,42416,10318,83321,69629,61534,03537,963
97,6621,11,9701,34,8791,52,2521,72,1861,81,6782,12,9892,52,4552,83,4843,13,491
6,34512,3298,70612,52812,27119,58725,86225,16032,59633,193
Other Liabilities & Provisions2,5272,6403,3893,5703,7895,4156,6799,2988,61914,284
Total Liabilities1,15,4861,39,2141,60,5521,83,3532,04,9672,26,2412,68,0043,17,8393,60,1524,02,081
ASSETS----------
4,5785,1376,4236,1837,65516,06612,60411,50920,36115,577
Balances with Banks & Money at Call2,8764,0583,6316,57512,1615,0705,2007,68511,23611,321
27,91230,59531,67635,71536,73239,06548,70261,04366,05876,471
74,08693,0111,11,5361,24,8491,35,5141,49,9511,81,9572,18,1102,44,9952,77,381
4774524624775046438909961,4561,420
5,5405,9526,8079,52612,38715,41618,56918,42915,97419,803
Total Assets1,15,4861,39,2141,60,5521,83,3532,04,9672,26,2412,68,0043,17,8393,60,1524,02,081

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
3,431-5,0517,8733,73111,179-7,7744896,4318,8014,349
Cash from Investing-2,384-1,579-3,380-4,693-3,915908-9,844-8,908-3,794-11,109
Cash from Financing9858,371-3,6373,661-2088,1936,0383,8717,4012,069
2,0321,7408562,6997,0571,327-3,3161,39412,408-4,691

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
PER SHARE
EPS (₹)5.034.746.577.908.349.3614.9515.7616.9217.63
Book Value (₹)51.8962.2167.9774.3682.6591.55104.50123.58140.57156.03
Dividend per Share (₹)0.901.001.400.000.701.801.001.201.201.20
PROFITABILITY
Net Interest Margin %2.86%2.78%2.82%2.83%3.06%3.06%3.15%3.04%3.06%3.13%
ROA %0.81%0.71%0.86%0.90%0.85%0.91%1.29%1.34%1.24%1.18%
ROE %10.04%8.58%9.96%10.97%10.52%11.00%15.36%15.04%13.00%12.29%
53.45%51.66%50.17%52.20%49.66%53.75%50.73%55.07%54.81%52.52%
ASSET QUALITY
Gross NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Provision Coverage %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Slippage Ratio %——————————
BALANCE SHEET & LIQUIDITY
CASA %32.82%33.64%32.37%30.70%34.06%37.13%32.74%29.54%30.41%33.18%
Credit-Deposit Ratio %0.07%0.11%0.06%0.08%0.07%0.11%0.12%0.10%0.12%0.11%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GROWTH & VALUATION
Net Profit Growth %74.90%6.60%40.99%21.07%6.08%19.32%61.58%23.67%6.98%6.71%
Book Value Growth %10.68%19.89%9.26%9.39%11.14%10.77%14.15%18.26%13.75%11.00%
P/E (x)18.17x18.84x14.68x5.20x9.09x10.40x8.84x9.53x11.39x14.71x
P/B (x)1.76x1.44x1.42x0.55x0.92x1.06x1.27x1.22x1.37x1.66x
0.99%1.12%1.45%0.00%0.92%1.85%0.76%0.80%0.62%0.46%

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters0.000.000.000.000.000.000.000.000.00
28.6327.7226.3226.2826.8625.5424.9426.0527.71
44.9746.9548.6749.0648.1649.7151.1050.3949.27
0.000.000.010.010.000.000.000.000.00
26.3925.3225.0024.6624.9724.7523.9623.5523.00

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08
Investor Presentation

2026-09-08 - The Federal Bank Limited has informed the Exchange about Investor Presentation

2026-09-08
General Updates

2026-09-08 - The Federal Bank Limited has informed the Exchange about Allotment of Equity Shares on exercise of Stock options pursuant to Employee Stock Option Scheme

2026-09-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-05 - The Federal Bank Limited has informed the Exchange about Schedule of meet

2026-08-30
General Updates

2026-08-30 - The Federal Bank Limited has informed the Exchange about Allotment of Equity Shares on exercise of Stock options pursuant to Employee Stock Option Scheme

2026-08-27
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - The Federal Bank Limited has informed the Exchange about Schedule of meet

2026-08-25
General Updates

2026-08-25 - The Federal Bank Limited has informed the Exchange about Clarification under Regulation 30(11) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) on news item appearing in Mainstream Media

2026-08-24
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - The Federal Bank Limited has informed the Exchange about Schedule of meet

2026-08-22
General Updates

2026-08-22 - The Federal Bank Limited has informed the Exchange about Allotment of Equity Shares on exercise of Stock options pursuant to Employee Stock Option Scheme

2026-08-21
Outcome of Board Meeting

2026-08-21 - The Federal Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on August 21, 2026.

News

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