Axis Bank Ltd

₹ 874 -2.08%
27 Jan - close price
About

Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. [1]

Key Points

Market Leadership
The Bank is the 3rd largest private sector bank in India. [1] It is the 4th largest issuer of credit cards and the 2nd largest merchant-acquiring bank in India with an installed capacity of 10 lakh+ terminals, acquiring an incremental market share of 30% in FY22. [2]

  • Market Cap 268,730 Cr.
  • Current Price 874
  • High / Low 970 / 618
  • Stock P/E 13.8
  • Book Value 375
  • Dividend Yield 0.11 %
  • ROCE 5.00 %
  • ROE 12.0 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 28.8% CAGR over last 5 years
  • Company's working capital requirements have reduced from 153 days to 85.7 days

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -1.50%
  • The company has delivered a poor sales growth of 8.63% over past five years.
  • Promoter holding is low: 8.19%
  • Company has a low return on equity of 7.66% over last 3 years.
  • Contingent liabilities of Rs.1,359,052 Cr.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Banks Industry: Banks - Private Sector

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
Revenue 15,708 16,234 16,445 15,981 15,498 15,494 16,003 16,336 17,261 17,776 18,729 20,239 22,226
Interest 9,255 9,426 9,460 8,655 8,126 7,939 8,243 8,436 8,609 8,957 9,345 9,879 10,767
7,968 12,672 8,144 8,578 9,658 7,526 8,235 7,506 7,666 7,564 6,855 7,135 8,285
Financing Profit -1,515 -5,864 -1,159 -1,252 -2,285 29 -474 395 986 1,255 2,529 3,225 3,174
Financing Margin % -10% -36% -7% -8% -15% 0% -3% 2% 6% 7% 14% 16% 14%
3,787 3,985 2,587 3,569 3,776 3,541 3,358 3,798 3,840 4,223 2,999 3,941 4,665
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 2,272 -1,879 1,428 2,317 1,491 3,570 2,884 4,193 4,827 5,479 5,528 7,166 7,840
Tax % 23% 26% 22% 27% 25% 25% 25% 25% 25% 25% 25% 26% 25%
Net Profit 1,757 -1,388 1,112 1,683 1,117 2,677 2,160 3,133 3,614 4,118 4,125 5,330 5,853
EPS in Rs 6.23 -4.92 3.94 5.50 3.65 8.74 7.05 10.22 11.78 13.41 13.43 17.35 19.03
Gross NPA % 5.00% 4.86% 4.72% 4.18% 3.44% 3.70% 3.85% 3.53% 3.17% 2.82% 2.76% 2.50% 2.38%
Net NPA % 2.09% 1.56% 1.23% 0.98% 0.74% 1.05% 1.20% 1.08% 0.91% 0.73% 0.64% 0.51% 0.47%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Revenue 15,155 21,995 27,183 30,641 35,479 40,988 44,542 45,780 54,986 62,635 63,346 67,377 78,970
Interest 8,592 13,977 17,516 18,690 21,254 24,155 26,449 27,163 33,278 37,429 34,107 34,245 38,948
5,770 6,808 8,313 9,644 11,127 13,367 23,808 28,895 27,155 35,066 31,749 29,962 29,839
Financing Profit 793 1,210 1,353 2,307 3,097 3,466 -5,715 -10,277 -5,447 -9,859 -2,510 3,170 10,184
Financing Margin % 5% 6% 5% 8% 9% 8% -13% -22% -10% -16% -4% 5% 13%
4,632 5,420 6,551 7,405 8,365 9,371 11,691 10,967 13,130 15,537 12,264 15,221 15,829
Depreciation 290 342 352 364 406 444 509 568 710 773 948 1,008 0
Profit before tax 5,136 6,288 7,553 9,349 11,057 12,394 5,468 122 6,974 4,904 8,806 17,383 26,013
Tax % 34% 33% 31% 33% 33% 34% 33% -127% 33% 67% 25% 25%
Net Profit 3,388 4,242 5,179 6,218 7,358 8,224 3,679 276 4,677 1,627 6,588 13,025 19,426
EPS in Rs 16.51 20.53 22.14 26.47 31.04 34.51 15.36 1.07 18.19 5.77 21.50 42.43 63.22
Dividend Payout % 17% 16% 16% 15% 15% 14% 33% 0% 6% 0% 0% 2%
Compounded Sales Growth
10 Years: 12%
5 Years: 9%
3 Years: 7%
TTM: 21%
Compounded Profit Growth
10 Years: 12%
5 Years: 29%
3 Years: 41%
TTM: 68%
Stock Price CAGR
10 Years: 11%
5 Years: 8%
3 Years: 6%
1 Year: 14%
Return on Equity
10 Years: 9%
5 Years: 6%
3 Years: 8%
Last Year: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
411 413 468 470 474 477 479 513 514 564 613 614
Reserves 18,588 22,395 32,640 37,751 44,202 52,688 55,284 62,932 66,162 84,384 100,990 114,412
215,506 254,176 296,565 331,236 402,200 466,548 519,410 601,639 701,247 788,059 840,858 1,006,855
8,209 8,643 10,888 13,789 15,056 20,108 26,295 26,245 33,073 42,158 44,336 53,298
Total Liabilities 242,713 285,628 340,561 383,245 461,932 539,821 601,468 691,330 800,997 915,165 986,798 1,175,178
2,250 2,189 2,231 2,311 2,413 3,316 3,466 3,626 3,764 3,839 4,135 4,363
CWIP 23 71 125 100 101 207 281 346 273 474 110 209
Investments 71,992 93,192 113,738 113,548 117,550 131,524 128,793 153,876 174,969 156,734 226,120 275,597
168,449 190,176 224,467 267,286 341,868 404,774 468,927 533,482 621,991 754,118 756,433 895,009
Total Assets 242,713 285,628 340,561 383,245 461,932 539,821 601,468 691,330 800,997 915,165 986,798 1,175,178

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
11,425 -9,827 2,719 16,703 -16,708 -19,183 34,192 -46,949 37,567 29,613 13,583 33,951
-13,990 -4,918 -10,993 -14,389 -4,278 -5,473 -12,633 -10,253 -18,749 -9,668 -54,180 -27,232
8,770 7,270 14,775 5,490 28,846 21,883 -4,629 50,401 4,931 10,118 5,059 42,538
Net Cash Flow 6,205 -7,475 6,501 7,804 7,860 -2,774 16,931 -6,801 23,750 30,064 -35,538 49,257

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
ROE % 19% 20% 19% 17% 18% 17% 7% 0% 7% 2% 7% 12%

Shareholding Pattern

Numbers in percentages

5 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
16.00 15.99 14.78 13.93 13.58 11.69 11.64 9.71 9.70 9.70 9.69 8.19
45.49 45.96 49.24 51.02 51.43 52.49 51.38 47.44 46.93 46.58 46.12 49.45
24.94 24.41 23.92 23.53 23.27 24.27 25.32 30.21 30.50 31.47 32.26 31.51
13.56 13.64 12.06 11.52 11.72 11.55 11.66 12.64 12.87 12.25 11.95 10.83

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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