Jammu and Kashmir Bank Ltd

Jammu and Kashmir Bank Ltd

₹ 139 -2.28%
21 Feb 4:12 p.m.
About

Jammu & Kashmir Bank (J&K Bank), incorporated in Jammu & Kashmir, India, is a publicly held banking company engaged in providing a wide range of banking services including Retail Banking, Corporate Banking & Treasury Operations.[1]
It is the only Private Sector Bank in the country assigned with responsibility of convening State/UT Level Bankers’ Committee (SLBC/UTLBC) meetings. The Bank continued to discharge its lead bank responsibility satisfactorily in 12 districts of UT of J&K, i.e. Srinagar, Ganderbal, Budgam, Baramulla, Bandipora, Kupwara, Anantnag, Kulgam, Pulwama, Shopian, Poonch and Rajouri.[2]

Key Points

Key Ratios - FY23
Capital Adequacy Ratio - 15.39%
Net Interest Margin - 3.89%
Gross NPA - 6.04%
Net NPA - 1.62%
CASA Ratio - 54.10% [1]

  • Market Cap 15,356 Cr.
  • Current Price 139
  • High / Low 152 / 44.6
  • Stock P/E 9.54
  • Book Value 95.9
  • Dividend Yield 0.36 %
  • ROCE 4.92 %
  • ROE 13.1 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 42.2% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -4.01%
  • The company has delivered a poor sales growth of 7.16% over past five years.
  • Company has a low return on equity of 9.14% over last 3 years.
  • Contingent liabilities of Rs.6,939 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

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 2,076 1,952 1,990 1,990 2,020 2,012 2,103 2,299 2,441 2,512 2,657 2,764 2,881
Interest 1,071 1,034 1,021 1,017 1,026 1,037 1,069 1,095 1,183 1,262 1,374 1,430 1,600
1,172 789 1,009 1,034 858 800 1,003 945 984 793 1,062 982 906
Financing Profit -167 128 -40 -60 135 176 31 259 274 457 221 352 375
Financing Margin % -8% 7% -2% -3% 7% 9% 1% 11% 11% 18% 8% 13% 13%
273 159 223 196 173 -56 205 148 244 168 230 193 186
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 107 287 183 136 308 120 236 407 518 625 452 545 561
Tax % 38% -10% 43% 18% 43% 6% 30% 40% 40% 24% 28% 30% 25%
66 322 100 107 169 119 161 240 307 473 331 384 423
EPS in Rs 0.93 4.52 1.40 1.15 1.81 1.27 1.67 2.49 3.19 4.58 3.21 3.72 3.84
Gross NPA % 8.71% 9.67% 9.69% 8.95%
Net NPA % 2.60% 2.95% 2.94% 3.02%
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 4,836 6,137 6,767 7,061 6,844 6,686 6,621 7,676 8,446 8,111 8,013 9,355 10,815
Interest 2,997 3,820 4,082 4,409 4,132 4,173 3,750 4,291 4,739 4,340 4,101 4,609 5,666
929 1,226 1,250 2,336 2,466 4,431 3,154 3,439 5,234 3,802 3,774 3,567 3,743
Financing Profit 910 1,091 1,435 316 245 -1,919 -283 -55 -1,527 -30 137 1,178 1,406
Financing Margin % 19% 18% 21% 4% 4% -29% -4% -1% -18% -0% 2% 13% 13%
335 485 393 599 509 497 501 817 509 701 753 765 777
Depreciation 44 50 78 95 64 85 97 104 126 134 144 158 0
Profit before tax 1,201 1,526 1,750 820 689 -1,507 121 659 -1,144 537 747 1,786 2,183
Tax % 33% 31% 33% 38% 40% -8% -68% 30% -3% 19% 32% 33%
803 1,055 1,181 508 414 -1,633 203 464 -1,183 428 495 1,181 1,610
EPS in Rs 16.57 21.76 24.36 10.49 8.54 -31.32 3.64 8.33 -16.59 6.01 5.30 11.44 15.35
Dividend Payout % 20% 23% 21% 20% 20% 0% 0% 0% 0% 0% 0% 4%
Compounded Sales Growth
10 Years: 4%
5 Years: 7%
3 Years: 3%
TTM: 22%
Compounded Profit Growth
10 Years: 1%
5 Years: 42%
3 Years: 44%
TTM: 51%
Stock Price CAGR
10 Years: 0%
5 Years: 29%
3 Years: 67%
1 Year: 188%
Return on Equity
10 Years: 3%
5 Years: 4%
3 Years: 9%
Last Year: 13%

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 48 48 48 48 48 52 56 56 71 71 93 103
Reserves 4,045 4,816 5,674 6,060 6,372 5,621 6,102 6,566 6,274 6,731 7,984 9,793
54,583 65,287 71,093 68,076 71,619 73,735 81,633 92,261 99,805 110,062 117,074 124,919
1,588 1,583 1,797 1,726 2,214 2,604 1,894 2,522 2,678 3,408 5,425 11,097
Total Liabilities 60,264 71,734 78,613 75,910 80,254 82,012 89,684 101,405 108,829 120,273 130,576 145,913
415 444 508 655 706 1,479 1,598 1,646 2,036 1,971 1,908 2,224
CWIP 5 13 27 34 59 64 17 29 35 41 46 47
Investments 21,619 25,731 26,185 22,740 20,334 21,271 18,860 23,140 22,990 30,774 33,785 34,780
38,224 45,547 51,893 52,481 59,156 59,198 69,210 76,589 83,768 87,486 94,837 108,860
Total Assets 60,264 71,734 78,613 75,910 80,254 82,012 89,684 101,405 108,829 120,273 130,576 145,913

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
1,176 1,280 -683 118 -219 2,457 2,363 -2,992 4,374 -14 -1,568 -407
-70 -86 -169 -261 -136 -861 -164 -165 -115 -76 -85 -124
-201 -243 -338 -338 -176 593 668 769 -339 -199 941 638
Net Cash Flow 905 951 -1,189 -480 -531 2,189 2,867 -2,388 3,920 -289 -712 107

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 % 21% 24% 22% 9% 7% -27% 3% 7% -18% 7% 7% 13%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
68.18% 68.18% 70.12% 70.12% 70.12% 68.03% 68.03% 68.03% 63.41% 63.41% 63.41% 59.40%
3.59% 1.79% 1.43% 0.70% 0.71% 0.76% 0.82% 1.96% 2.24% 2.19% 2.61% 5.80%
0.19% 0.22% 0.16% 0.23% 0.21% 0.94% 2.12% 2.78% 2.66% 2.43% 4.92% 7.81%
28.04% 29.81% 28.30% 28.96% 28.96% 30.27% 29.03% 27.23% 31.69% 31.96% 29.06% 26.98%
No. of Shareholders 1,42,2141,74,4681,80,6701,84,2541,92,5881,95,9351,89,5351,69,5581,72,0741,72,1711,88,6092,04,193

* 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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Documents

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