Kotak Mahindra Bank Ltd.

•

kotak.bank.inBSE: 500247NSE: KOTAKBANK

Market Cap₹ 4,16,508 Cr.

Current Price

High / Low₹ 453 / 346

Stock P/E20.5

Book Value₹ 188

Price to Book1.94

Dividend Yield0.16 %

ROCE12.0 %

ROE11.3 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 27.6% • Corporate Banking: 22.5% • Insurance: 22.4%

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

Comfortable capital adequacy - CAR of 22.4%
Asset quality is healthy - gross NPA of just 1.2%
Solid return on assets for a lender - ROA of 1.9%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 16.3% CAGR over last 5 years
Healthy loan book growth of 16.2% with stable asset quality

CONS

A large part of profit comes from other income (146.8% of PBT)
Operating margins have contracted to 42.8% from 47.7%
Though reporting repeated profits, the company pays out little dividend (3.4%)
Expensive relative to growth - PEG of 2.3

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

Peer comparison

Financial ServicesBankBank - Private

Part ofNIFTY BANK NIFTY 50 NIFTYLARGEMIDCAP250 NIFTY PVT BANK NIFTY100 LOWVOL30

S.No.	Name
1.	HDFCBANK	708.00	13.81	1091323.88	2.19	203826.90	1092.64	905753.30	936.66	12.81	35.64
2.	ICICIBANK	1379.15	17.65	989980.04	0.87	16209.74	12.62	52240.85	6.44	16.51	32.39
3.	KOTAKBANK	418.70	20.52	416508.36	0.16	5487.06	23.89	18354.57	6.41	12.05	19.05
4.	AXISBANK	1247.50	13.98	388399.91	0.08	7656.51	22.31	35541.96	9.87	11.04	63.88
5.	IDBI	83.44	9.63	89718.04	0.00	2130.57	5.27	7549.28	7.44	14.76	76.80
6.	FEDERALBNK	344.40	18.18	85149.33	0.35	1297.61	37.06	7861.58	9.94	10.98	66.11
7.	AUBANK	1058.00	43.57	79454.72	0.09	7959.53	1270.31	53027.42	1111.10	14.17	56.24
8.	INDUSINDBK	977.80	57.61	76184.77	0.15	1037.02	71.68	11309.94	-7.78	4.97	55.07
9.	IDFCFIRSTB	86.20	32.24	74319.14	0.29	1147.82	153.12	11051.09	14.61	5.42	38.45
10.	YESBANK	23.47	19.52	73668.68	0.00	1071.81	32.53	8054.49	5.92	8.04	58.47
11.	RBLBANK	412.80	71.21	64022.78	0.24	2342.30	993.41	38402.40	1015.97	6.49	40.95
12.	KARURVYSYA	333.85	11.76	32273.73	0.78	755.70	44.92	3049.42	18.72	23.62	71.82

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	12,869	13,717	14,495	15,156	15,837	16,427	16,633	16,772	17,248	17,199	17,507	17,827	18,355
Interest Expended	4,834	5,536	5,985	6,212	6,805	7,139	7,170	7,157	7,529	7,333	7,384	7,376	7,703
Net Interest Income	8,035	8,181	8,509	8,944	9,032	9,288	9,463	9,615	9,719	9,866	10,122	10,451	10,652
	7,855	7,843	9,588	12,751	9,239	10,453	7,313	10,402	9,456	7,703	10,344	10,280	11,714
Total Income	0	0	0	0	25,076	26,880	23,946	27,174	26,704	24,901	27,851	28,108	30,069
Operating Expenses	0	0	0	0	1,14,886	1,22,038	95,408	1,25,235	1,18,000	1,05,516	1,29,934	1,30,711	14,092
Operating Profit	0	0	0	0	67,820	75,372	72,342	74,914	73,746	70,172	74,729	76,606	8,274
Provisions & Contingencies	0	0	0	0	7,744	8,904	10,542	11,403	13,212	10,544	9,396	5,852	765
Profit before Tax	5,586	5,888	5,614	6,775	9,811	6,647	6,180	6,351	6,053	5,963	6,533	7,443	7,509
Tax %	26.44%	24.89%	25.14%	22.62%	24.58%	24.81%	24.93%	22.71%	26.83%	25.44%	24.94%	27.43%	26.93%
Net Profit	0	0	0	0	7,399	4,998	4,640	4,909	4,429	4,446	4,904	5,402	5,487
EPS	21	22	21	27	37	25	5	5	22	22	5	5	1

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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	56,237	65,669	69,781	—
Interest Expended	11,458	12,467	15,187	15,901	12,967	11,554	14,411	22,567	28,271	29,620	29,795
Net Interest Income	-11,458	-12,467	-15,187	-15,901	-12,967	-11,554	-14,411	33,669	37,398	40,161	—
	11,660	13,682	16,148	16,892	23,588	24,941	25,991	38,037	41,233	38,166	40,041
Total Income	0	0	0	0	0	0	0	94,274	1,06,902	1,07,948	1,10,928
	0	0	0	0	0	0	0	45,871	45,783	48,434	—
Operating Profit	-11,458	-12,467	-15,187	-15,901	-12,967	-11,554	-14,411	25,836	32,848	29,893	—
	152	209	-22	181	-28	-80	-18	1,972	3,859	3,900	—
Profit before Tax	7,332	9,158	10,576	11,422	13,168	15,948	19,646	23,863	28,989	25,993	27,448
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.67%	24.30%	26.21%	26.27%
Net Profit	4,949	6,147	7,120	8,607	9,903	11,932	14,780	17,977	21,946	19,181	20,239
EPS	27	33	38	45	50	61	75	91	111	19	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 16%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 14%
3 Years:: 9%

STOCK PRICE CAGR

10 Years:: 10%
5 Years:: 3%
3 Years:: 5%
1 Year:: 6%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 14%
3 Years:: 14%
Last Year:: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
	920	953	954	957	991	992	993	994	994	995
	37,570	49,533	56,825	65,678	83,346	95,642	1,10,761	1,28,898	1,56,401	1,80,118
	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
	49,690	58,604	66,439	65,577	47,739	55,160	57,034	75,106	97,622	95,394
Other Liabilities & Provisions	31,991	37,392	45,626	50,059	67,405	84,086	89,809	1,17,321	1,29,955	1,59,793
Total Liabilities	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	77	88	100
ASSETS	-	-	-	-	-	-	-	-	-	-
	7,512	8,934	10,911	9,513	12,528	36,049	19,985	36,287	41,748	51,282
Balances with Banks & Money at Call	18,076	15,467	20,354	54,567	35,189	16,616	22,940	28,920	37,313	50,809
	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
	1,67,125	2,05,997	2,43,462	2,49,879	2,52,170	3,04,474	3,59,107	4,30,352	4,86,166	5,65,768
	1,755	1,750	1,884	1,861	1,740	1,910	2,261	2,563	2,811	2,853
	13,257	14,596	15,074	16,156	20,282	22,920	20,798	23,101	27,481	42,008
Total Assets	2,76,188	3,37,720	3,95,171	4,43,173	4,78,854	5,46,498	6,20,430	77	88	100

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13,223	-10,392	1,822	46,619	4,881	8,308	-1,242	15,685	16,916	41,727
Cash from Investing	-5,268	-5,608	-3,383	-13,199	-11,116	-10,969	-10,550	-9,097	-25,272	-16,519
Cash from Financing	6,055	14,679	8,365	-735	-10,072	7,543	1,883	15,515	22,165	-2,538
	14,010	-1,321	6,804	32,685	-16,307	4,883	-9,910	22,103	13,809	22,669

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	26.84	32.54	37.74	44.71	50.20	60.71	74.93	91.43	111.29	19.39
Book Value (₹)	209.09	264.93	302.71	348.32	425.55	486.90	562.55	653.41	791.64	182.09
Dividend per Share (₹)	0.60	0.70	0.80	0.00	0.90	1.10	1.50	2.00	2.50	0.65
PROFITABILITY
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.54%	4.40%	4.19%
ROA %	1.91%	2.00%	1.94%	2.05%	2.15%	2.33%	2.53%	2.59%	2.66%	2.04%
ROE %	13.78%	13.82%	13.15%	13.84%	13.12%	13.19%	14.19%	14.88%	15.28%	11.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	63.97%	58.23%	61.84%
ASSET QUALITY
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.45%	0.00%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.36%	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 %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	45.48%	42.99%	43.22%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.17%	0.20%	0.17%
	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 %	44.24%	24.21%	15.82%	20.89%	15.06%	20.49%	23.87%	21.63%	22.08%	-12.60%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.15%	21.16%	-77.00%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	19.53x	3.90x	18.21x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.73x	2.74x	1.94x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.12%	0.18%

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	25.89	25.89	25.89	25.88	25.88	25.88	25.87	25.87	25.87
	31.50	31.73	30.82	30.99	30.68	29.74	29.35	26.39	25.20
	27.58	27.77	28.63	29.02	29.50	31.91	32.76	36.07	37.58
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	13.26	12.84	12.90	12.33	12.17	12.36	11.89	11.55	11.22

Documents

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

2026-09-11

Copy of Newspaper Publication

2026-09-11 - Newspaper Clipping - Special Window for Transfer and Dematerialisation of Physical Securities of the Bank

2026-09-10

Resignation of Director/KMP/SMP

2026-09-10 - Kotak Mahindra Bank Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-09-10

General Updates

2026-09-10 - Kotak Mahindra Bank Limited has informed the Exchange about Change in Senior Management Personnel

2026-09-08

ESOP/ESOS/ESPS

2026-09-08 - Kotak Mahindra Bank Limited has informed the Exchange regarding Grant of 714080 Options.

2026-08-24

General Updates

2026-08-24 - Kotak Mahindra Bank Limited has informed the Exchange about General Updates.

2026-08-24

General Updates

2026-08-24 - Kotak Mahindra Bank Limited has informed the Exchange about General Updates.

2026-08-22

General Updates

2026-08-22 - Kotak Mahindra Bank Limited has informed the Exchange about ESG Rating

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Kotak Mahindra Bank Limited has informed the Exchange about Schedule of meet

2026-08-20

Credit Rating

2026-08-20 - Kotak Mahindra Bank Limited has informed the Exchange about Credit Rating

News

Recent coverage and analyst commentary for KOTAKBANK

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Free 5nance Account

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

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

12,869

13,717

14,495

15,156

15,837

16,427

16,633

16,772

17,248

17,199

17,507

17,827

18,355

Interest Expended

4,834

5,536

5,985

6,212

6,805

7,139

7,170

7,157

7,529

7,333

7,384

7,376

7,703

Net Interest Income

8,035

8,181

8,509

8,944

9,032

9,288

9,463

9,615

9,719

9,866

10,122

10,451

10,652

7,855

7,843

9,588

12,751

9,239

10,453

7,313

10,402

9,456

7,703

10,344

10,280

11,714

Total Income

25,076

26,880

23,946

27,174

26,704

24,901

27,851

28,108

30,069

Operating Expenses

1,14,886

1,22,038

95,408

1,25,235

1,18,000

1,05,516

1,29,934

1,30,711

14,092

Operating Profit

67,820

75,372

72,342

74,914

73,746

70,172

74,729

76,606

8,274

Provisions & Contingencies

7,744

8,904

10,542

11,403

13,212

10,544

9,396

5,852

765

Profit before Tax

5,586

5,888

5,614

6,775

9,811

6,647

6,180

6,351

6,053

5,963

6,533

7,443

7,509

Tax %

26.44%

24.89%

25.14%

22.62%

24.58%

24.81%

24.93%

22.71%

26.83%

25.44%

24.94%

27.43%

26.93%

Net Profit

7,399

4,998

4,640

4,909

4,429

4,446

4,904

5,402

5,487

EPS

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

56,237

65,669

69,781

—

Interest Expended

11,458

12,467

15,187

15,901

12,967

11,554

14,411

22,567

28,271

29,620

29,795

Net Interest Income

-11,458

-12,467

-15,187

-15,901

-12,967

-11,554

-14,411

33,669

37,398

40,161

—

11,660

13,682

16,148

16,892

23,588

24,941

25,991

38,037

41,233

38,166

40,041

Total Income

94,274

1,06,902

1,07,948

1,10,928

45,871

45,783

48,434

—

Operating Profit

-11,458

-12,467

-15,187

-15,901

-12,967

-11,554

-14,411

25,836

32,848

29,893

—

152

209

-22

181

-28

-80

-18

1,972

3,859

3,900

—

Profit before Tax

7,332

9,158

10,576

11,422

13,168

15,948

19,646

23,863

28,989

25,993

27,448

Tax %

0.00%

24.67%

24.30%

26.21%

26.27%

Net Profit

4,949

6,147

7,120

8,607

9,903

11,932

14,780

17,977

21,946

19,181

20,239

EPS

111

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

920

953

954

957

991

992

993

994

995

37,570

49,533

56,825

65,678

83,346

95,642

1,10,761

1,28,898

1,56,401

1,80,118

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

49,690

58,604

66,439

65,577

47,739

55,160

57,034

75,106

97,622

95,394

Other Liabilities & Provisions

31,991

37,392

45,626

50,059

67,405

84,086

89,809

1,17,321

1,29,955

1,59,793

Total Liabilities

2,76,188

3,37,720

3,95,171

4,43,173

4,78,854

5,46,498

6,20,430

100

ASSETS

7,512

8,934

10,911

9,513

12,528

36,049

19,985

36,287

41,748

51,282

Balances with Banks & Money at Call

18,076

15,467

20,354

54,567

35,189

16,616

22,940

28,920

37,313

50,809

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

1,67,125

2,05,997

2,43,462

2,49,879

2,52,170

3,04,474

3,59,107

4,30,352

4,86,166

5,65,768

1,755

1,750

1,884

1,861

1,740

1,910

2,261

2,563

2,811

2,853

13,257

14,596

15,074

16,156

20,282

22,920

20,798

23,101

27,481

42,008

Total Assets

2,76,188

3,37,720

3,95,171

4,43,173

4,78,854

5,46,498

6,20,430

100

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

13,223

-10,392

1,822

46,619

4,881

8,308

-1,242

15,685

16,916

41,727

Cash from Investing

-5,268

-5,608

-3,383

-13,199

-11,116

-10,969

-10,550

-9,097

-25,272

-16,519

Cash from Financing

6,055

14,679

8,365

-735

-10,072

7,543

1,883

15,515

22,165

-2,538

14,010

-1,321

6,804

32,685

-16,307

4,883

-9,910

22,103

13,809

22,669

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

26.84

32.54

37.74

44.71

50.20

60.71

74.93

91.43

111.29

19.39

Book Value (₹)

209.09

264.93

302.71

348.32

425.55

486.90

562.55

653.41

791.64

182.09

Dividend per Share (₹)

0.60

0.70

0.80

0.00

0.90

1.10

1.50

2.00

2.50

0.65

PROFITABILITY

Net Interest Margin %

0.00%

4.54%

4.40%

4.19%

ROA %

1.91%

2.00%

1.94%

2.05%

2.15%

2.33%

2.53%

2.59%

2.66%

2.04%

ROE %

13.78%

13.82%

13.15%

13.84%

13.12%

13.19%

14.19%

14.88%

15.28%

11.33%

0.00%

63.97%

58.23%

61.84%

ASSET QUALITY

Gross NPA %

0.00%

1.45%

0.00%

Net NPA %

0.00%

0.36%

0.00%

Provision Coverage %

0.00%

Slippage Ratio %

—

BALANCE SHEET & LIQUIDITY

CASA %

0.00%

45.48%

42.99%

43.22%

Credit-Deposit Ratio %

0.00%

0.17%

0.20%

0.17%

0.00%

GROWTH & VALUATION

Net Profit Growth %

44.24%

24.21%

15.82%

20.89%

15.06%

20.49%

23.87%

21.63%

22.08%

-12.60%

Book Value Growth %

0.00%

16.15%

21.16%

-77.00%

P/E (x)

0.00x

19.53x

3.90x

18.21x

P/B (x)

0.00x

2.73x

2.74x

1.94x

0.00%

0.11%

0.12%

0.18%

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

25.89

25.88

25.87

31.50

31.73

30.82

30.99

30.68

29.74

29.35

26.39

25.20

27.58

27.77

28.63

29.02

29.50

31.91

32.76

36.07

37.58

Government

0.00

13.26

12.84

12.90

12.33

12.17

12.36

11.89

11.55

11.22

Kotak Mahindra Bank Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

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Kotak Mahindra Bank Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI