Axis Bank Ltd

Axis Bank Ltd

₹ 1,181 0.54%
14 Jun - close price
About

Incorporated in December 1993, Axis Bank Limited is a private sector bank.It has the third-largest network of branches among private sector banks and an international presence through branches in DIFC (Dubai) and Singapore along with representative offices in Abu Dhabi, Sharjah, Dhaka and Dubai and an offshore banking unit in GIFT City.[1]

Key Points

Market Leadership

<h1>3rd largest private sector bank in India.[1]</h1> <h1>4th largest issuer of credit cards[2]</h1> <h1>19.8% market share in FY24.[3]</h1>
  • Market Cap 3,64,906 Cr.
  • Current Price 1,181
  • High / Low 1,242 / 921
  • Stock P/E 13.8
  • Book Value 422
  • Dividend Yield 0.08 %
  • ROCE 7.53 %
  • ROE 20.3 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 39.2% CAGR over last 5 years
  • Company's working capital requirements have reduced from 39.5 days to 17.7 days

Cons

  • Stock is trading at 2.80 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding is low: 8.22%
  • Contingent liabilities of Rs.15,11,843 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.25,230 Cr.
  • Promoter holding has decreased over last 3 years: -5.36%

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 15,790 16,302 16,683 17,653 18,209 19,193 20,783 22,843 24,630 26,246 27,418 28,865 30,231
Interest 8,077 8,367 8,598 8,795 9,162 9,565 10,150 11,094 12,580 13,972 14,749 15,943 16,727
7,816 8,504 7,827 7,994 7,936 7,168 7,450 8,577 8,101 9,731 10,059 10,506 11,124
Financing Profit -103 -570 258 864 1,111 2,460 3,182 3,171 3,948 2,543 2,609 2,416 2,379
Financing Margin % -1% -4% 2% 5% 6% 13% 15% 14% 16% 10% 10% 8% 8%
4,060 3,754 4,284 4,438 4,792 3,423 4,390 5,148 -7,101 5,648 5,705 6,272 7,606
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 3,957 3,184 4,542 5,301 5,903 5,883 7,573 8,319 -3,153 8,192 8,314 8,688 9,985
Tax % 25% 25% 26% 25% 25% 25% 26% 25% -70% 26% 25% 25% 24%
2,960 2,374 3,406 3,983 4,444 4,402 5,636 6,215 -5,334 6,113 6,230 6,520 7,630
EPS in Rs 9.60 7.69 11.05 12.90 14.39 14.26 18.27 20.12 -17.43 19.78 20.13 21.05 24.62
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 27,202 30,736 35,727 41,409 45,175 46,614 56,044 63,716 64,397 68,846 87,448 112,759
Interest 17,513 18,703 21,341 24,344 26,789 27,604 33,883 37,996 34,627 34,923 43,389 61,391
8,538 9,944 11,521 13,869 24,327 29,717 28,020 35,976 32,621 31,216 31,001 41,421
Financing Profit 1,151 2,089 2,865 3,196 -5,941 -10,706 -5,860 -10,256 -2,851 2,707 13,058 9,948
Financing Margin % 4% 7% 8% 8% -13% -23% -10% -16% -4% 4% 15% 9%
6,833 7,766 8,838 9,955 12,422 11,863 14,189 16,342 13,577 17,268 18,706 25,230
Depreciation 359 375 420 461 527 591 737 806 976 1,046 13,143 0
Profit before tax 7,625 9,479 11,283 12,690 5,954 566 7,592 5,280 9,750 18,929 18,621 35,178
Tax % 31% 33% 34% 34% 33% 18% 34% 64% 26% 25% 42% 25%
5,235 6,311 7,450 8,358 3,967 464 5,047 1,879 7,252 14,207 10,919 26,492
EPS in Rs 22.37 26.86 31.42 35.04 16.51 1.78 19.59 6.57 23.49 45.99 35.16 85.49
Dividend Payout % 16% 15% 15% 14% 30% 0% 5% 0% 0% 2% 3% 1%
Compounded Sales Growth
10 Years: 14%
5 Years: 15%
3 Years: 21%
TTM: 29%
Compounded Profit Growth
10 Years: 15%
5 Years: 39%
3 Years: 54%
TTM: 144%
Stock Price CAGR
10 Years: 12%
5 Years: 9%
3 Years: 16%
1 Year: 20%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 14%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 468 470 474 477 479 513 514 564 613 614 615
Reserves 32,690 37,926 44,475 53,082 55,901 63,694 67,288 85,776 102,981 117,647 129,166
296,254 333,280 406,638 472,150 527,437 611,425 711,996 797,337 850,551 1,020,943 1,152,038
11,145 14,674 15,656 20,678 27,644 28,071 34,248 44,194 46,859 56,576 62,598
Total Liabilities 340,558 386,350 467,243 546,387 611,462 703,703 814,046 927,872 1,001,005 1,195,779 1,344,418
2,245 2,346 2,447 3,358 3,518 3,697 3,842 3,912 4,501 4,753 5,000
CWIP 142 102 105 216 292 352 288 483 118 215 142
Investments 113,378 113,093 118,527 131,399 129,018 153,037 174,056 155,282 225,336 274,608 288,095
224,792 270,810 346,164 411,414 478,633 546,618 635,860 768,196 771,050 916,203 1,051,181
Total Assets 340,558 386,350 467,243 546,387 611,462 703,703 814,046 927,872 1,001,005 1,195,779 1,344,418

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,573 14,464 -15,162 -34,495 32,209 -38,390 37,125 30,416 12,633 28,137 22,075 -5,555
-10,939 -14,166 -7,972 9,211 -12,458 -10,007 -18,674 -9,485 -54,288 -27,112 -32,351 -9,088
14,931 7,785 31,045 22,495 -2,487 41,342 5,643 8,865 7,279 47,894 6,641 22,341
Net Cash Flow 6,566 8,082 7,910 -2,789 17,263 -7,055 24,094 29,795 -34,375 48,919 -3,636 7,698

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 19% 18% 18% 17% 7% 1% 8% 2% 8% 13% 9%

Shareholding Pattern

Numbers in percentages

29 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
11.69% 11.64% 9.71% 9.70% 9.70% 9.69% 8.19% 8.16% 8.19% 8.22% 8.20% 8.22%
52.49% 51.38% 47.44% 46.93% 46.58% 46.12% 49.45% 49.05% 52.00% 53.00% 54.68% 53.84%
24.27% 25.32% 30.21% 30.50% 31.47% 32.26% 31.51% 32.01% 29.91% 29.03% 28.83% 30.12%
11.55% 11.66% 12.64% 12.87% 12.25% 11.95% 10.83% 10.79% 9.91% 9.76% 8.27% 7.81%
No. of Shareholders 6,23,6186,17,8368,52,5148,13,5309,16,5638,50,8068,09,8058,46,2618,01,2097,85,6017,85,5027,86,166

* 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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