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The Federal Bank Ltd.

•
federal.bank.in.BSE: 500469NSE: FEDERALBNK
Market Cap₹ 85,261 Cr.
Current Price
High / Low₹ 372 / 189
Stock P/E19.2
Book Value₹ 155
Price to Book1.72
Dividend Yield0.35 %
ROCE11.1 %
ROE11.7 %
Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 55.5% • Corporate / Whole sale Banking: 24.0% • Treasury: 13.1%

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 21.0% 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
  • Strong provisioning - provision coverage ratio of 87.4%
  • Latest quarter profit grew 36.6% YoY, showing strong momentum

CONS

  • A large part of profit comes from other income (82.7% of PBT)
  • Equity base is being diluted - shares outstanding up 16.4%
  • Valuation is stretched - P/E of 19.2 is well above its own 5-year median (10.8)
  • Though reporting repeated profits, the company pays out little dividend (7.2%)
  • Growth is decelerating - 3Y profit CAGR (11.0%) trails the 5Y trend (21.0%)

* 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.HDFCBANK687.2513.411059339.462.26203826.901092.64905753.30936.6612.8135.64
2.ICICIBANK1390.1017.79997793.420.8616209.7412.6252240.856.4416.5132.39
3.KOTAKBANK414.4020.31412230.870.165487.0623.8918354.576.4112.0519.05
4.AXISBANK1239.5013.89385909.170.087656.5122.3135541.969.8711.0463.88
5.IDBI81.639.4287771.860.002130.575.277549.287.4414.7676.80
6.FEDERALBNK344.8518.2185260.580.351297.6137.067861.589.9410.9866.11
7.AUBANK1061.0043.7079680.010.097959.531270.3153027.421111.1014.1756.24
8.INDUSINDBK1002.0059.0478069.880.151037.0271.6811309.94-7.784.9755.07
9.IDFCFIRSTB86.0032.1774146.700.291147.82153.1211051.0914.615.4238.45
10.YESBANK22.4318.6570403.950.001071.8132.538054.495.928.0458.47
11.RBLBANK416.8071.9064643.150.242342.30993.4138402.401015.976.4940.95
12.KARURVYSYA340.4511.9932911.760.76755.7044.923049.4218.7223.6271.82
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
5,0255,4555,7305,9786,3316,5776,8096,6486,6876,7426,8687,3997,238
Interest Expended3,1063,3993,6073,7834,0394,2104,3774,2714,3504,2474,2154,2264,292
Net Interest Income1,9192,0562,1232,1952,2922,3672,4312,3772,3372,4952,6533,1732,946
7327308637549159649161,0061,1131,0821,1001,1451,048
Total Income00007,6648,0158,1968,1558,3158,3218,5039,1328,287
Operating Expenses1,3491,4621,5491,8391,7061,7661,7781,9181,8941,9332,0242,0412,097
Operating Profit1,3021,3241,4371,1101,5011,5651,5691,4651,5561,6441,7292,2761,897
Provisions & Contingencies1564491-95144158292138400363332741318
Profit before Tax1,1471,2811,3461,2051,3571,4071,2771,3271,1561,2811,3971,5351,580
Tax %25.55%25.51%25.21%24.79%25.59%24.90%25.19%22.38%25.46%25.43%25.47%17.99%25.49%
Net Profit8549541,0079061,0101,0579551,0308629551,0411,2591,177
EPS4444444444450

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8,6779,75311,41913,21113,75813,66116,80422,18826,36527,695—
Interest Expended5,6256,1707,2438,5628,2247,6999,57113,89516,89717,03816,981
Net Interest Income3,0533,5834,1764,6495,5345,9627,2328,2939,46810,657—
1,0821,1591,3511,9311,9592,0892,3303,0793,8014,4404,376
Total Income9,75910,91212,77015,14215,71715,75019,13425,26830,16732,13634,244
2,2102,4512,7643,3763,6924,2934,7686,1987,1687,892—
Operating Profit1,9252,2912,7633,2053,8013,7584,7945,1746,1017,206—
6189298561,1721,6631,2227501967331,837—
Profit before Tax1,3061,3621,9072,0332,1372,5364,0454,9785,3685,3705,793
Tax %36.41%35.49%34.78%24.10%25.59%25.48%25.56%25.26%24.52%23.32%23.49%
Net Profit8318791,2441,5431,5901,8903,0113,7214,0524,1174,432
EPS54688914151617—

COMPOUNDED SALES GROWTH

10 Years:
14%
5 Years:
15%
3 Years:
18%

COMPOUNDED PROFIT GROWTH

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

STOCK PRICE CAGR

10 Years:
17%
5 Years:
33%
3 Years:
32%
1 Year:
76%

RETURN ON EQUITY

10 Years:
11%
5 Years:
13%
3 Years:
13%
Last Year:
12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
8,59811,81612,87614,11915,72418,37221,08128,60432,91836,625
97,6651,11,9921,34,9541,52,2901,72,6441,81,7012,13,3862,52,5342,83,6473,13,909
5,89711,5337,78110,3729,06915,39319,31918,02623,72621,159
Other Liabilities & Provisions2,4732,5783,3313,4583,5305,0596,1308,6578,21013,748
Total Liabilities1,14,9771,38,3141,59,3401,80,6382,01,3672,20,9462,60,3423,08,3123,49,0053,87,521
ASSETS----------
4,5775,1336,4196,1757,64716,04912,59111,49420,35415,566
Balances with Banks & Money at Call2,8764,0713,6486,40011,9444,9615,0987,46910,50510,161
28,19630,78131,82435,89337,18639,17948,98360,86066,24676,676
73,33691,9571,10,2231,22,2681,31,8791,44,9281,74,4472,09,4032,34,8362,64,594
4754484554554796068539541,4071,367
5,5035,9156,7549,42312,22015,19418,28918,06615,58519,051
Total Assets1,14,9771,38,3141,59,3401,80,6382,01,3672,20,9462,60,3423,08,3123,49,0053,87,521

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
3,757-4,6978,1714,88412,207-6,4972,8707,55310,0737,182
Cash from Investing-2,383-1,577-3,374-4,669-3,902813-9,818-8,852-3,744-11,055
Cash from Financing6598,025-3,9362,289-1,2907,1103,6432,5775,571-1,249
2,0331,7518612,5037,0151,425-3,3061,27811,901-5,123

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
PER SHARE
EPS (₹)4.824.466.277.747.978.9914.2315.2816.5016.71
Book Value (₹)51.8461.8966.8472.8380.7589.36101.59119.43136.02150.60
Dividend per Share (₹)0.901.001.400.000.701.801.001.201.201.20
PROFITABILITY
Net Interest Margin %2.80%2.72%2.75%2.72%2.93%2.91%3.00%2.87%2.85%2.90%
ROA %0.79%0.69%0.84%0.91%0.83%0.90%1.25%1.31%1.23%1.12%
ROE %9.76%8.31%9.77%11.11%10.38%10.83%14.95%14.71%12.97%11.68%
53.44%51.69%50.01%51.30%49.27%53.32%49.86%54.50%54.02%52.27%
ASSET QUALITY
Gross NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.91%
Net NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.48%
Provision Coverage %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%74.41%
Slippage Ratio %——————————
BALANCE SHEET & LIQUIDITY
CASA %32.82%33.65%32.40%30.71%34.01%37.13%32.86%29.56%30.45%33.27%
Credit-Deposit Ratio %0.06%0.10%0.06%0.07%0.05%0.08%0.09%0.07%0.08%0.07%
12.39%14.70%14.14%14.35%14.62%15.77%14.81%16.13%16.40%17.25%
GROWTH & VALUATION
Net Profit Growth %74.66%5.78%41.54%24.03%3.08%18.83%59.31%23.58%8.90%1.61%
Book Value Growth %10.20%19.38%8.00%8.96%10.87%10.66%13.69%17.56%13.89%10.72%
P/E (x)18.96x20.05x15.38x5.30x9.51x10.83x9.30x9.83x11.68x15.52x
P/B (x)1.76x1.44x1.44x0.56x0.94x1.09x1.30x1.26x1.42x1.72x
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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