Kotak Mahindra Bank Ltd

Kotak Mahindra Bank Ltd

₹ 1,703 -0.18%
27 Feb 3:07 p.m.
About

Kotak Mahindra Bank is a diversified financial services group providing a wide range of banking and financial services including Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, Advisory services, Asset Management, Life Insurance and General Insurance.[1]

Key Points

Ratios (Q1FY23)
Capital Adequacy Ratio - ~23%
Net Interest Margin - ~5%
Gross NPA - 2.3%%
Net NPA - 0.6% %
CASA Ratio - 58% [1] [2]

  • Market Cap 3,38,578 Cr.
  • Current Price 1,703
  • High / Low 2,064 / 1,644
  • Stock P/E 19.4
  • Book Value 563
  • Dividend Yield 0.09 %
  • ROCE 6.86 %
  • ROE 14.3 %
  • Face Value 5.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.3% CAGR over last 5 years

Cons

  • Stock is trading at 3.03 times its book value
  • The company has delivered a poor sales growth of 10.9% over past five years.
  • Company has a low return on equity of 13.7% over last 3 years.
  • Contingent liabilities of Rs.5,08,058 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.34,071 Cr.

* 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 8,134 7,952 8,043 8,233 8,626 8,838 9,164 9,994 11,011 11,982 12,869 13,717 14,495
Interest 3,120 2,933 2,851 2,880 2,919 2,904 3,004 3,375 3,802 4,230 4,834 5,536 5,985
8,096 9,429 7,202 8,532 6,839 8,555 4,879 9,313 9,345 10,548 10,303 10,136 12,484
Financing Profit -3,082 -4,410 -2,009 -3,179 -1,132 -2,620 1,281 -2,694 -2,136 -2,796 -2,269 -1,955 -3,975
Financing Margin % -38% -55% -25% -39% -13% -30% 14% -27% -19% -23% -18% -14% -27%
6,537 7,773 4,529 7,110 5,543 7,838 2,405 7,441 7,360 8,785 7,855 7,843 9,588
Depreciation 0 0 0 0 0 131 0 0 0 0 0 0 0
Profit before tax 3,455 3,364 2,519 3,931 4,411 5,087 3,686 4,747 5,224 5,989 5,586 5,888 5,614
Tax % 25% 24% 29% 25% 24% 24% 26% 25% 24% 24% 26% 25% 25%
2,602 2,589 1,806 2,989 3,403 3,892 2,755 3,608 3,995 4,566 4,150 4,461 4,265
EPS in Rs 13.14 13.07 9.11 15.07 17.15 19.61 13.88 18.17 20.12 22.99 20.88 22.45 21.46
Gross NPA % 2.25% 3.22% 3.58% 3.16% 2.75% 2.37% 2.27% 2.09% 1.91% 1.76% 1.75% 1.69% 1.68%
Net NPA % 0.53% 1.23% 1.34% 1.09% 0.87% 0.71% 0.69% 0.60% 0.48% 0.41% 0.43% 0.39% 0.36%
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 8,470 10,838 11,986 13,319 20,402 22,324 25,131 29,831 33,474 32,820 33,741 42,151 53,062
Interest 4,542 6,024 6,312 6,966 11,123 11,458 12,467 15,187 15,901 12,967 11,554 14,411 20,585
5,651 6,603 7,053 9,718 11,541 14,832 16,805 19,758 22,578 29,812 30,699 33,485 43,471
Financing Profit -1,723 -1,789 -1,379 -3,366 -2,263 -3,965 -4,141 -5,114 -5,005 -9,958 -8,512 -5,746 -10,994
Financing Margin % -20% -17% -12% -25% -11% -18% -16% -17% -15% -30% -25% -14% -21%
4,543 5,112 5,282 8,152 7,631 11,660 13,682 16,148 16,892 23,588 24,941 25,991 34,071
Depreciation 164 179 208 237 345 362 383 458 465 461 480 599 0
Profit before tax 2,656 3,144 3,695 4,550 5,024 7,332 9,158 10,576 11,422 13,168 15,948 19,646 23,077
Tax % 30% 30% 32% 33% 32% 32% 33% 33% 25% 25% 25% 25%
1,885 2,238 2,527 3,105 3,524 5,019 6,258 7,204 8,593 9,990 12,089 14,925 17,442
EPS in Rs 12.37 14.66 16.00 19.72 18.86 26.84 32.54 37.74 44.92 50.41 60.91 75.13 87.78
Dividend Payout % 2% 2% 2% 2% 3% 2% 2% 2% 0% 2% 2% 2%
Compounded Sales Growth
10 Years: 15%
5 Years: 11%
3 Years: 8%
TTM: 36%
Compounded Profit Growth
10 Years: 21%
5 Years: 19%
3 Years: 20%
TTM: 22%
Stock Price CAGR
10 Years: 17%
5 Years: 7%
3 Years: -1%
1 Year: -1%
Return on Equity
10 Years: 14%
5 Years: 14%
3 Years: 14%
Last Year: 14%

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 370 373 385 386 917 920 953 954 957 991 992 993
Reserves 12,566 14,894 18,699 21,770 32,447 37,572 49,535 56,827 65,680 83,348 95,673 110,821
Preference Capital 0 0 0 0 0 0 0 500 500 500 500 500
65,655 85,561 85,937 104,258 179,679 205,230 249,840 291,263 325,977 326,610 365,247 418,307
13,731 15,006 17,176 22,049 27,761 32,465 37,392 46,126 50,559 67,905 84,586 90,309
Total Liabilities 92,323 115,835 122,197 148,464 240,804 276,188 337,720 395,171 443,173 478,854 546,498 620,430
615 620 1,264 1,385 1,761 1,759 2,543 2,697 2,675 2,554 2,723 3,075
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 31,658 40,907 38,791 45,589 70,274 68,462 90,977 103,487 111,197 156,946 164,529 195,338
60,049 74,308 82,142 101,490 168,769 205,967 244,201 288,987 329,301 319,355 379,245 422,017
Total Assets 92,323 115,835 122,197 148,464 240,804 276,188 337,720 395,171 443,173 478,854 546,498 620,430

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
-1,192 2,878 9,068 2,302 5,025 13,222 -10,392 1,822 46,619 4,881 8,308 -1,242
-5,456 -9,035 -1,130 -4,467 -2,353 -5,289 -5,475 -3,323 -13,068 -11,172 -10,903 -10,381
7,229 7,099 -5,814 2,426 2,024 6,055 14,679 8,365 -735 -10,072 7,543 1,883
Net Cash Flow 582 942 2,125 260 4,696 13,989 -1,188 6,864 32,815 -16,363 4,949 -9,740

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 % 15% 16% 14% 15% 12% 14% 14% 13% 14% 13% 13% 14%

Shareholding Pattern

Numbers in percentages

18 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
26.02% 26.00% 26.00% 25.99% 25.98% 25.97% 25.96% 25.95% 25.95% 25.94% 25.92% 25.91%
44.23% 42.77% 42.58% 42.06% 40.86% 40.55% 40.92% 40.90% 39.42% 41.54% 40.97% 39.74%
13.53% 14.62% 15.29% 15.49% 16.60% 17.29% 19.96% 20.09% 21.31% 19.57% 20.00% 21.38%
16.22% 16.61% 16.13% 16.46% 16.56% 16.20% 13.16% 13.05% 13.30% 12.92% 13.11% 12.98%
No. of Shareholders 4,23,2394,92,3184,75,6715,30,6925,79,8215,64,7895,54,7795,43,7365,82,7335,60,8256,35,2996,34,698

* 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

Concalls