The Federal Bank Ltd.
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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 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 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
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 687.25 | 13.41 | 1059339.46 | 2.26 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1390.10 | 17.79 | 997793.42 | 0.86 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 414.40 | 20.31 | 412230.87 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1239.50 | 13.89 | 385909.17 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 81.63 | 9.42 | 87771.86 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.85 | 18.21 | 85260.58 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1061.00 | 43.70 | 79680.01 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 1002.00 | 59.04 | 78069.88 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.00 | 32.17 | 74146.70 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 22.43 | 18.65 | 70403.95 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 416.80 | 71.90 | 64643.15 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| KARURVYSYA | 340.45 | 11.99 | 32911.76 | 0.76 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,025 | 5,455 | 5,730 | 5,978 | 6,331 | 6,577 | 6,809 | 6,648 | 6,687 | 6,742 | 6,868 | 7,399 | 7,238 | |
| Interest Expended | 3,106 | 3,399 | 3,607 | 3,783 | 4,039 | 4,210 | 4,377 | 4,271 | 4,350 | 4,247 | 4,215 | 4,226 | 4,292 |
| Net Interest Income | 1,919 | 2,056 | 2,123 | 2,195 | 2,292 | 2,367 | 2,431 | 2,377 | 2,337 | 2,495 | 2,653 | 3,173 | 2,946 |
| 732 | 730 | 863 | 754 | 915 | 964 | 916 | 1,006 | 1,113 | 1,082 | 1,100 | 1,145 | 1,048 | |
| Total Income | 0 | 0 | 0 | 0 | 7,664 | 8,015 | 8,196 | 8,155 | 8,315 | 8,321 | 8,503 | 9,132 | 8,287 |
| Operating Expenses | 1,349 | 1,462 | 1,549 | 1,839 | 1,706 | 1,766 | 1,778 | 1,918 | 1,894 | 1,933 | 2,024 | 2,041 | 2,097 |
| Operating Profit | 1,302 | 1,324 | 1,437 | 1,110 | 1,501 | 1,565 | 1,569 | 1,465 | 1,556 | 1,644 | 1,729 | 2,276 | 1,897 |
| Provisions & Contingencies | 156 | 44 | 91 | -95 | 144 | 158 | 292 | 138 | 400 | 363 | 332 | 741 | 318 |
| Profit before Tax | 1,147 | 1,281 | 1,346 | 1,205 | 1,357 | 1,407 | 1,277 | 1,327 | 1,156 | 1,281 | 1,397 | 1,535 | 1,580 |
| 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 Profit | 854 | 954 | 1,007 | 906 | 1,010 | 1,057 | 955 | 1,030 | 862 | 955 | 1,041 | 1,259 | 1,177 |
| EPS | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 0 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8,677 | 9,753 | 11,419 | 13,211 | 13,758 | 13,661 | 16,804 | 22,188 | 26,365 | 27,695 | — | |
| Interest Expended | 5,625 | 6,170 | 7,243 | 8,562 | 8,224 | 7,699 | 9,571 | 13,895 | 16,897 | 17,038 | 16,981 |
| Net Interest Income | 3,053 | 3,583 | 4,176 | 4,649 | 5,534 | 5,962 | 7,232 | 8,293 | 9,468 | 10,657 | — |
| 1,082 | 1,159 | 1,351 | 1,931 | 1,959 | 2,089 | 2,330 | 3,079 | 3,801 | 4,440 | 4,376 | |
| Total Income | 9,759 | 10,912 | 12,770 | 15,142 | 15,717 | 15,750 | 19,134 | 25,268 | 30,167 | 32,136 | 34,244 |
| 2,210 | 2,451 | 2,764 | 3,376 | 3,692 | 4,293 | 4,768 | 6,198 | 7,168 | 7,892 | — | |
| Operating Profit | 1,925 | 2,291 | 2,763 | 3,205 | 3,801 | 3,758 | 4,794 | 5,174 | 6,101 | 7,206 | — |
| 618 | 929 | 856 | 1,172 | 1,663 | 1,222 | 750 | 196 | 733 | 1,837 | — | |
| Profit before Tax | 1,306 | 1,362 | 1,907 | 2,033 | 2,137 | 2,536 | 4,045 | 4,978 | 5,368 | 5,370 | 5,793 |
| Tax % | 36.41% | 35.49% | 34.78% | 24.10% | 25.59% | 25.48% | 25.56% | 25.26% | 24.52% | 23.32% | 23.49% |
| Net Profit | 831 | 879 | 1,244 | 1,543 | 1,590 | 1,890 | 3,011 | 3,721 | 4,052 | 4,117 | 4,432 |
| EPS | 5 | 4 | 6 | 8 | 8 | 9 | 14 | 15 | 16 | 17 | — |
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
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 345 | 394 | 397 | 399 | 399 | 421 | 423 | 487 | 491 | 493 |
| 8,598 | 11,816 | 12,876 | 14,119 | 15,724 | 18,372 | 21,081 | 28,604 | 32,918 | 36,625 | |
| 97,665 | 1,11,992 | 1,34,954 | 1,52,290 | 1,72,644 | 1,81,701 | 2,13,386 | 2,52,534 | 2,83,647 | 3,13,909 | |
| 5,897 | 11,533 | 7,781 | 10,372 | 9,069 | 15,393 | 19,319 | 18,026 | 23,726 | 21,159 | |
| Other Liabilities & Provisions | 2,473 | 2,578 | 3,331 | 3,458 | 3,530 | 5,059 | 6,130 | 8,657 | 8,210 | 13,748 |
| Total Liabilities | 1,14,977 | 1,38,314 | 1,59,340 | 1,80,638 | 2,01,367 | 2,20,946 | 2,60,342 | 3,08,312 | 3,49,005 | 3,87,521 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 4,577 | 5,133 | 6,419 | 6,175 | 7,647 | 16,049 | 12,591 | 11,494 | 20,354 | 15,566 | |
| Balances with Banks & Money at Call | 2,876 | 4,071 | 3,648 | 6,400 | 11,944 | 4,961 | 5,098 | 7,469 | 10,505 | 10,161 |
| 28,196 | 30,781 | 31,824 | 35,893 | 37,186 | 39,179 | 48,983 | 60,860 | 66,246 | 76,676 | |
| 73,336 | 91,957 | 1,10,223 | 1,22,268 | 1,31,879 | 1,44,928 | 1,74,447 | 2,09,403 | 2,34,836 | 2,64,594 | |
| 475 | 448 | 455 | 455 | 479 | 606 | 853 | 954 | 1,407 | 1,367 | |
| 5,503 | 5,915 | 6,754 | 9,423 | 12,220 | 15,194 | 18,289 | 18,066 | 15,585 | 19,051 | |
| Total Assets | 1,14,977 | 1,38,314 | 1,59,340 | 1,80,638 | 2,01,367 | 2,20,946 | 2,60,342 | 3,08,312 | 3,49,005 | 3,87,521 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3,757 | -4,697 | 8,171 | 4,884 | 12,207 | -6,497 | 2,870 | 7,553 | 10,073 | 7,182 | |
| Cash from Investing | -2,383 | -1,577 | -3,374 | -4,669 | -3,902 | 813 | -9,818 | -8,852 | -3,744 | -11,055 |
| Cash from Financing | 659 | 8,025 | -3,936 | 2,289 | -1,290 | 7,110 | 3,643 | 2,577 | 5,571 | -1,249 |
| 2,033 | 1,751 | 861 | 2,503 | 7,015 | 1,425 | -3,306 | 1,278 | 11,901 | -5,123 |
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 (₹) | 4.82 | 4.46 | 6.27 | 7.74 | 7.97 | 8.99 | 14.23 | 15.28 | 16.50 | 16.71 |
| Book Value (₹) | 51.84 | 61.89 | 66.84 | 72.83 | 80.75 | 89.36 | 101.59 | 119.43 | 136.02 | 150.60 |
| Dividend per Share (₹) | 0.90 | 1.00 | 1.40 | 0.00 | 0.70 | 1.80 | 1.00 | 1.20 | 1.20 | 1.20 |
| 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) | 18.96x | 20.05x | 15.38x | 5.30x | 9.51x | 10.83x | 9.30x | 9.83x | 11.68x | 15.52x |
| P/B (x) | 1.76x | 1.44x | 1.44x | 0.56x | 0.94x | 1.09x | 1.30x | 1.26x | 1.42x | 1.72x |
| 0.99% | 1.12% | 1.45% | 0.00% | 0.92% | 1.85% | 0.76% | 0.80% | 0.62% | 0.46% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - The Federal Bank Limited has informed the Exchange about Investor Presentation
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 - The Federal Bank Limited has informed the Exchange about Schedule of meet
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 - The Federal Bank Limited has informed the Exchange about Schedule of meet
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 - The Federal Bank Limited has informed the Exchange about Schedule of meet
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 - The Federal Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on August 21, 2026.
News
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