Jammu and Kashmir Bank Ltd

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Jammu and Kashmir Bank Ltd

₹ 104 -0.79%
12 Dec 4:00 p.m.
jkbank.net BSE: 532209 NSE: J&KBANK
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]

Website BSE NSE
  • Market Cap ₹ 11,420 Cr.
  • Current Price ₹ 104
  • High / Low ₹ 152 / 88.1
  • Stock P/E 5.63
  • Book Value ₹ 111
  • Dividend Yield 2.07 %
  • ROCE 5.90 %
  • ROE 16.0 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 0.93 times its book value
  • Company has delivered good profit growth of 30.7% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.88% over past five years.
  • Company has a low return on equity of 12.5% over last 3 years.
  • Contingent liabilities of Rs.6,358 Cr.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -10.7%

* 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

Part of BSE 500 Nifty 500 Nifty Smallcap 250 BSE PSU BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Revenue 1,990 2,020 2,012 2,103 2,299 2,441 2,512 2,657 2,764 2,881 2,910 2,994 3,124
Interest 1,017 1,026 1,037 1,069 1,095 1,183 1,262 1,374 1,430 1,600 1,604 1,625 1,687
1,034 858 800 1,003 945 984 793 1,062 982 906 705 954 980
Financing Profit -60 135 176 31 259 274 457 221 352 375 602 415 456
Financing Margin % -3% 7% 9% 1% 11% 11% 18% 8% 13% 13% 21% 14% 15%
196 173 -56 205 148 244 168 230 193 186 229 198 301
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 136 308 120 236 407 518 625 452 545 561 830 614 757
Tax % 18% 43% 6% 30% 40% 40% 24% 28% 30% 25% 23% 32% 27%
107 169 119 161 240 307 473 331 384 423 633 418 553
EPS in Rs 1.15 1.81 1.27 1.67 2.49 3.19 4.58 3.21 3.72 3.84 5.75 3.80 5.02
Gross NPA % 8.95%
Net NPA % 3.02%
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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 TTM
Revenue 6,137 6,767 7,061 6,844 6,686 6,621 7,676 8,446 8,111 8,013 9,355 11,213 11,910
Interest 3,820 4,082 4,409 4,132 4,173 3,750 4,291 4,739 4,340 4,101 4,609 6,008 6,517
1,226 1,250 2,336 2,466 4,431 3,154 3,439 5,234 3,802 3,774 3,567 3,437 3,545
Financing Profit 1,091 1,435 316 245 -1,919 -283 -55 -1,527 -30 137 1,178 1,768 1,848
Financing Margin % 18% 21% 4% 4% -29% -4% -1% -18% -0% 2% 13% 16% 16%
485 393 599 509 497 501 817 509 701 753 765 838 914
Depreciation 50 78 95 64 85 97 104 126 134 144 158 218 0
Profit before tax 1,526 1,750 820 689 -1,507 121 659 -1,144 537 747 1,786 2,388 2,762
Tax % 31% 33% 38% 40% 8% -68% 30% 3% 19% 32% 33% 26%
1,055 1,181 508 414 -1,633 203 464 -1,183 428 495 1,181 1,771 2,027
EPS in Rs 21.76 24.36 10.49 8.54 -31.32 3.64 8.33 -16.59 6.01 5.30 11.44 16.08 18.41
Dividend Payout % 23% 21% 20% 20% 0% 0% 0% 0% 0% 0% 4% 13%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 11%
TTM: 15%
Compounded Profit Growth
10 Years: 4%
5 Years: 31%
3 Years: 61%
TTM: 36%
Stock Price CAGR
10 Years: -3%
5 Years: 28%
3 Years: 40%
1 Year: -20%
Return on Equity
10 Years: 4%
5 Years: 7%
3 Years: 13%
Last Year: 16%

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 48 48 48 48 52 56 56 71 71 93 103 110
Reserves 4,816 5,674 6,060 6,372 5,621 6,102 6,566 6,274 6,731 7,984 9,793 12,083
65,287 71,093 68,076 71,619 73,735 81,633 92,261 99,805 110,062 117,074 124,919 137,648
1,583 1,797 1,726 2,214 2,604 1,894 2,522 2,678 3,408 5,425 11,097 4,664
Total Liabilities 71,734 78,613 75,910 80,254 82,012 89,684 101,405 108,829 120,273 130,576 145,913 154,505
444 508 655 706 1,479 1,598 1,646 2,036 1,971 1,908 2,224 2,208
CWIP 13 27 34 59 64 17 29 35 41 46 47 50
Investments 25,731 26,185 22,740 20,334 21,271 18,860 23,140 22,990 30,774 33,785 34,780 34,900
45,547 51,893 52,481 59,156 59,198 69,210 76,589 83,768 87,486 94,837 108,860 117,347
Total Assets 71,734 78,613 75,910 80,254 82,012 89,684 101,405 108,829 120,273 130,576 145,913 154,505

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
1,280 -683 118 -219 2,457 2,363 -2,992 4,374 -14 -1,568 -407 -853
-86 -169 -261 -136 -861 -164 -165 -115 -76 -85 -124 -257
-243 -338 -338 -176 593 668 769 -339 -199 941 638 407
Net Cash Flow 951 -1,189 -480 -531 2,189 2,867 -2,388 3,920 -289 -712 107 -702

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 % 24% 22% 9% 7% -27% 3% 7% -18% 7% 7% 13% 16%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
70.12% 70.12% 68.03% 68.03% 68.03% 63.41% 63.41% 63.41% 59.40% 59.40% 59.40% 59.40%
0.70% 0.71% 0.76% 0.82% 1.96% 2.24% 2.19% 2.61% 5.80% 6.99% 7.16% 6.47%
0.23% 0.21% 0.94% 2.12% 2.78% 2.66% 2.43% 4.92% 7.81% 7.90% 6.74% 6.41%
28.96% 28.96% 30.27% 29.03% 27.23% 31.69% 31.96% 29.06% 26.98% 25.71% 26.70% 27.72%
No. of Shareholders 1,84,2541,92,5881,95,9351,89,5351,69,5581,72,0741,72,1711,88,6092,04,1932,15,2942,54,6452,78,050

* 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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