Axis Bank Ltd

Axis Bank Ltd

₹ 1,097 -0.37%
23 Feb - 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 3,38,483 Cr.
  • Current Price 1,097
  • High / Low 1,152 / 814
  • Stock P/E 13.1
  • Book Value 422
  • Dividend Yield 0.09 %
  • ROCE 5.12 %
  • ROE 8.73 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 91.9% CAGR over last 5 years
  • Company's working capital requirements have reduced from 86.0 days to 22.8 days

Cons

  • Stock is trading at 2.60 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding is low: 8.20%
  • Company has a low return on equity of 9.74% over last 3 years.
  • Contingent liabilities of Rs.15,11,843 Cr.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -5.73%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Revenue 15,684 15,790 16,302 16,683 17,653 18,209 19,193 20,783 22,843 24,630 26,246 27,418 28,865
Interest 8,179 8,077 8,367 8,598 8,795 9,162 9,565 10,150 11,094 12,580 13,972 14,749 15,943
9,028 7,816 8,504 7,827 7,994 7,936 7,168 7,450 8,577 8,101 9,731 10,059 10,506
Financing Profit -1,522 -103 -570 258 864 1,111 2,460 3,182 3,171 3,948 2,543 2,609 2,416
Financing Margin % -10% -1% -4% 2% 5% 6% 13% 15% 14% 16% 10% 10% 8%
3,307 4,060 3,754 4,284 4,438 4,792 3,423 4,390 5,148 -7,101 5,648 5,705 6,272
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 1,784 3,957 3,184 4,542 5,301 5,903 5,883 7,573 8,319 -3,153 8,192 8,314 8,688
Tax % 25% 25% 25% 26% 25% 25% 25% 26% 25% -70% 26% 25% 25%
1,335 2,960 2,374 3,406 3,983 4,444 4,402 5,636 6,215 -5,334 6,113 6,230 6,520
EPS in Rs 4.30 9.60 7.69 11.05 12.90 14.39 14.26 18.27 20.12 -17.43 19.78 20.13 21.05
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Revenue 21,995 27,202 30,736 35,727 41,409 45,175 46,614 56,044 63,716 64,696 68,846 87,448 107,158
Interest 13,969 17,513 18,703 21,341 24,344 26,789 27,604 33,883 37,996 34,926 34,923 43,389 57,244
6,895 8,538 9,944 11,521 13,869 24,327 29,717 28,020 35,976 35,192 31,213 30,999 38,398
Financing Profit 1,131 1,151 2,089 2,865 3,196 -5,941 -10,706 -5,860 -10,256 -5,422 2,710 13,060 11,516
Financing Margin % 5% 4% 7% 8% 8% -13% -23% -10% -16% -8% 4% 15% 11%
5,487 6,833 7,766 8,838 9,955 12,422 11,863 14,189 16,342 16,152 17,268 18,706 10,523
Depreciation 348 359 375 420 461 527 591 737 806 979 1,049 13,146 0
Profit before tax 6,270 7,625 9,479 11,283 12,690 5,954 566 7,592 5,280 9,750 18,929 18,621 22,040
Tax % 33% 31% 33% 34% 34% 33% 18% 34% 64% 26% 25% 42%
4,220 5,235 6,311 7,450 8,358 3,967 464 5,047 1,879 7,252 14,207 10,919 13,529
EPS in Rs 20.42 22.37 26.86 31.42 35.04 16.51 1.78 19.59 6.57 23.49 45.99 35.16 43.53
Dividend Payout % 16% 16% 15% 15% 14% 30% 0% 5% 0% 0% 2% 3%
Compounded Sales Growth
10 Years: 12%
5 Years: 13%
3 Years: 11%
TTM: 32%
Compounded Profit Growth
10 Years: 8%
5 Years: 92%
3 Years: 80%
TTM: 25%
Stock Price CAGR
10 Years: 16%
5 Years: 9%
3 Years: 15%
1 Year: 30%
Return on Equity
10 Years: 9%
5 Years: 8%
3 Years: 10%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity Capital 413 468 470 474 477 479 513 514 564 613 614 615
Reserves 22,269 32,690 37,926 44,475 53,082 55,901 63,694 67,288 85,776 102,981 117,647 129,166
254,059 296,254 333,280 406,638 472,150 527,437 611,425 711,996 797,337 859,872 1,020,943 1,152,038
8,675 11,145 14,674 15,656 20,678 27,644 28,071 34,248 44,194 46,859 56,576 62,598
Total Liabilities 285,417 340,558 386,350 467,243 546,387 611,462 703,703 814,046 927,872 1,010,325 1,195,779 1,344,418
2,204 2,245 2,346 2,447 3,358 3,518 3,697 3,842 3,912 4,211 4,753 5,000
CWIP 80 142 102 105 216 292 352 288 483 118 215 142
Investments 92,921 113,378 113,093 118,527 131,399 129,018 153,037 174,056 155,282 225,336 274,608 288,095
190,211 224,792 270,810 346,164 411,414 478,633 546,618 635,860 768,196 780,660 916,203 1,051,181
Total Assets 285,417 340,558 386,350 467,243 546,387 611,462 703,703 814,046 927,872 1,010,325 1,195,779 1,344,418

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-9,904 2,573 14,464 -15,162 -34,495 32,209 -38,390 37,125 30,416 12,633 28,137 22,075
-4,840 -10,939 -14,166 -7,972 9,211 -12,458 -10,007 -18,674 -9,485 -54,288 -27,112 -32,351
7,270 14,931 7,785 31,045 22,495 -2,487 41,342 5,643 8,865 7,279 47,894 6,641
Net Cash Flow -7,474 6,566 8,082 7,910 -2,789 17,263 -7,055 24,094 29,795 -34,375 48,919 -3,636

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
ROE % 20% 19% 18% 18% 17% 7% 1% 8% 2% 8% 13% 9%

Shareholding Pattern

Numbers in percentages

33 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
13.58% 11.69% 11.64% 9.71% 9.70% 9.70% 9.69% 8.19% 8.16% 8.19% 8.22% 8.20%
51.43% 52.49% 51.38% 47.44% 46.93% 46.58% 46.12% 49.45% 49.05% 52.00% 53.00% 54.68%
23.27% 24.27% 25.32% 30.21% 30.50% 31.47% 32.26% 31.51% 32.01% 29.91% 29.03% 28.83%
11.72% 11.55% 11.66% 12.64% 12.87% 12.25% 11.95% 10.83% 10.79% 9.91% 9.76% 8.27%
No. of Shareholders 6,20,6186,23,6186,17,8368,52,5148,13,5309,16,5638,50,8068,09,8058,46,2618,01,2097,85,6017,85,502

* 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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