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Insights

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  • Given the fact that it has high exposure to retail segment, except a marginal increase in net NPA, on most of the other financial parameters, first quarter of FY 22 indicates that assets quality has remained under control. The main challenge remains to grow loan book without compromising in quality of borrowers.

  • In some segments like securities trading and asset management, the subsidiaries of the bank are doing well, both in term of revenue and ranking in the industry. But the insurance subsidiary needs to be spruced up. In first quarter of FY22, it was insurance subsidiary which was the pain point as covid claims hit it hard. The unlocking of subsidiaries would help the bank in raising resources for any large inorganic expansion plan

  • In the past five years, the bank has largely been insulated from the troubles in corporate loans, indicating that the risk of a sudden decline in asset quality is very low and the credit-check system is robust. Covid crisis has impacted the retail loan book of every bank, with Kotak being no exception. What needs to be watched is the recovery rate on the individual loan books.

  • Net profit per employee has been continuously increasing over the last 3 years with a growth of 13.34% last year. (Source: Standalone Financials)

InsightsKotak Mahindra Bank Ltd.

  • Q1,FY22 - Better on many counts, , but

    Given the fact that it has high exposure to retail segment, except a marginal increase in net NPA, on most of the other financial parameters, first quarter of FY 22 indicates that assets quality has remained under control. The main challenge remains to grow loan book without compromising in quality of borrowers.

  • Sprucing up subsidiaries

    In some segments like securities trading and asset management, the subsidiaries of the bank are doing well, both in term of revenue and ranking in the industry. But the insurance subsidiary needs to be spruced up. In first quarter of FY22, it was insurance subsidiary which was the pain point as covid claims hit it hard. The unlocking of subsidiaries would help the bank in raising resources for any large inorganic expansion plan

  • Credit-check for corporates in place

    In the past five years, the bank has largely been insulated from the troubles in corporate loans, indicating that the risk of a sudden decline in asset quality is very low and the credit-check system is robust. Covid crisis has impacted the retail loan book of every bank, with Kotak being no exception. What needs to be watched is the recovery rate on the individual loan books.

  • Profit Per Employee - Uptrend

    Net profit per employee has been continuously increasing over the last 3 years with a growth of 13.34% last year. (Source: Standalone Financials)

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Key Metrics

  • 34.88
  • 50.15
  • 3,47,167
  • 4
  • 4.10
  • 0.00
  • 5.00
  • 1.20
  • 1,749.83

Returns

  • 1 Day-0.24%
  • 1 Week3.08%
  • 1 Month5.73%
  • 3 Months-2.64%
  • 1 Year22.29%
  • 3 Years35.91%
  • 5 Years115.81%

Kotak Bank Stock Analysis

EARNINGS
FUNDAMENTAL
RELATIVE VALUATION
RISK
PRICE MOMENTUM

NO RATING (NR)

NEGATIVE (1-3)

NEUTRAL (4-7)

POSITIVE (8-10)

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Recommendations

Recent Recos

HOLD

Current

Mean Recos by 40 Analysts

Strong
Sell
SellHoldBuyStrong
Buy

  • Target₹1810
  • OrganizationICICI Securities
  • BUY

Analyst Trends

RatingsCurrent1 Week Ago1 Month Ago3 Months Ago
Strong Buy5554
Buy14141411
Hold16161616
Sell5558
Strong Sell----
# Analysts40404039

Financials

  • Income (P&L)

  • Balance Sheet

  • Cash Flow

  • Ratios

  • MD&A

  • Insights

    • Profit Per Employee - Uptrend

      Net profit per employee has been continuously increasing over the last 3 years with a growth of 13.34% last year. (Source: Standalone Financials)
    • Quarterly Topline Performance

      Company witnessed QoQ revenue decline of 20.87%, which is lowest in the last 3 years. (Source: Consolidated Financials)
    Quarterly | AnnualJun 2021Mar 2021Dec 2020Sep 2020Jun 2020
    Total Income12,799.5916,175.8714,834.9913,591.4112,323.15
    Total Income Growth (%)-20.879.049.1510.291.97
    Provisions & Contingencies1,086.651,214.80674.03473.221,119.33
    Provisions & Contingencies Growth (%)-10.5580.2342.43-57.72-11.32
    Profit after Tax (PAT)1,806.092,589.322,601.672,946.621,852.59
    PAT Growth (%)-30.25-0.47-11.7159.05-2.76
    Gross NPA (%)3.583.222.252.552.67
    Net NPA (%)1.341.230.530.700.89
    Net Profit Margin (%)14.1116.0117.5421.6815.03
    Basic EPS (₹)9.1112.8713.1414.899.57
    Quarterly | AnnualJun 2021Mar 2021Dec 2020Sep 2020Jun 2020
    Total Income8,062.818,398.398,124.928,288.087,685.40
    Total Income Growth (%)-4.003.37-1.977.84-7.34
    Provisions & Contingencies934.771,179.41599.03368.59962.01
    Provisions & Contingencies Growth (%)-20.7496.8962.52-61.69-8.16
    Profit after Tax (PAT)1,641.921,682.371,853.542,184.481,244.45
    PAT Growth (%)-2.40-9.23-15.1575.54-1.75
    Gross NPA (%)3.563.252.262.552.70
    Net NPA (%)1.281.210.500.640.87
    Net Profit Margin (%)20.3620.0322.8126.3616.19
    Basic EPS (₹)8.288.299.3611.046.43
    Quarterly | Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Total Income56,814.7750,365.7445,979.1138,813.3133,983.77
    Total Income Growth (%)12.809.5418.4614.2121.23
    Provisions & Contingencies6,525.145,372.824,501.394,035.833,331.77
    Provisions & Contingencies Growth (%)21.4519.3611.5421.1328.93
    Profit after Tax (PAT)9,990.208,593.367,204.136,200.974,941.33
    PAT Growth (%)15.0620.8915.8224.1944.27
    Net Interest Margin (%)4.143.963.733.743.93
    Net Profit Margin (%)30.4325.6724.0624.6722.13
    Basic EPS (₹)50.5344.7337.7832.7026.89
    Quarterly | Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Total Income32,299.4632,301.7228,547.2323,800.7021,176.09
    Total Income Growth (%)-0.0113.1519.9412.3911.47
    Provisions & Contingencies5,249.864,073.663,482.853,073.872,573.31
    Provisions & Contingencies Growth (%)28.8716.9613.3119.4531.88
    Profit after Tax (PAT)6,964.845,947.184,865.334,084.303,411.50
    PAT Growth (%)17.1122.2419.1219.7263.25
    Net Interest Margin (%)4.003.743.603.593.78
    Net Profit Margin (%)25.9422.0820.3220.6819.27
    Basic EPS (₹)35.1730.8825.5221.5418.57

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Advances2,52,188.222,49,878.962,43,461.992,05,997.321,67,124.91
    Advances Growth (%)0.922.6418.1923.2615.42
    Deposits2,78,871.412,60,400.212,24,824.261,91,235.801,55,540.00
    Deposits Growth (%)7.0915.8217.5622.9514.41
    Total Equity84,836.4467,134.1258,279.7350,486.0738,965.27
    Total Equity Growth (%)26.3715.1915.4429.5715.43
    Gross NPA (%)-----
    Net NPA (%)-----
    Capital Adequacy Ratios (%)-----
    Contingent Liabilities2,02,290.051,90,159.092,17,847.152,09,757.541,96,172.07
    Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Advances2,23,688.622,19,748.192,05,694.811,69,717.921,36,082.13
    Advances Growth (%)1.796.8321.2024.7214.68
    Deposits2,80,100.052,62,820.522,25,880.361,92,643.271,57,425.86
    Deposits Growth (%)6.5716.3517.2522.3713.55
    Total Equity63,229.1348,518.1742,400.4537,483.8227,617.94
    Total Equity Growth (%)30.3214.4313.1235.7215.25
    Gross NPA (%)3.252.252.142.222.59
    Net NPA (%)1.210.710.750.981.26
    Capital Adequacy Ratios (%)22.2617.8917.4518.2216.77
    Contingent Liabilities1,93,106.991,87,277.362,12,082.272,05,104.841,93,067.54

    All figures in Rs Cr, unless mentioned otherwise

  • Insights

    • Cash from Operations vs PAT

      Operating cash flow of Rs 4881.13 cr is 0.49 times compared to the reported net profit of Rs 9990.2 cr. (Source: Consolidated Financials)
    • Decrease in Cash from Investing

      Company has used Rs 11116.14 cr for investing activities which is an YoY decrease of 15.78%. (Source: Consolidated Financials)
    Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Net Cash flow from Operating Activities4,881.1346,618.831,822.38-10,392.4113,222.50
    Net Cash used in Investing Activities-11,116.14-13,198.87-3,382.56-5,608.25-5,268.09
    Net Cash flow from Financing Activities-10,072.05-735.008,364.5914,679.406,055.26
    Net Cash Flow-16,363.2332,815.396,863.83-1,187.9213,989.14
    Closing Cash & Cash Equivalent47,716.6264,079.8531,264.4624,400.6325,588.55
    Closing Cash & Cash Equivalent Growth (%)-25.54104.9628.13-4.64120.60
    Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Net Cash flow from Operating Activities-5,298.3030,159.43-3,387.72-10,274.9214,411.92
    Net Cash used in Investing Activities-1,769.10-7,454.06798.11-2,515.50-2,971.84
    Net Cash flow from Financing Activities-6,585.905,882.917,633.079,837.22256.52
    Net Cash Flow-13,665.7728,616.765,055.43-2,951.9011,692.29
    Closing Cash & Cash Equivalent39,626.5353,292.3024,675.5419,620.1122,572.01
    Closing Cash & Cash Equivalent Growth (%)-25.64115.9725.77-13.08107.47

    All figures in Rs Cr, unless mentioned otherwise

  • Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Return on Equity (%)11.8412.8912.4612.2812.83
    Return on Assets (%)2.081.931.821.831.78
    Cost to Income (%)59.7451.3451.4852.0451.72
    Interest income to Earning assets (%)6.857.557.577.448.08
    Interest Expense to Earning assets (%)2.703.583.843.694.14
    Price to Earnings (x)34.8428.9035.4632.2632.57
    Price to Book (x)4.123.724.413.964.17
    Price to Sales (x)10.597.418.527.957.19
    Operating Profit Margin (%)-42.93-24.74-29.81-29.98-30.05
    Annual FY 2021 FY 2020 FY 2019 FY 2018 FY 2017
    Return on Equity (%)11.0112.2511.4710.8912.35
    Return on Assets (%)1.811.651.551.541.58
    Cost to Income (%)42.8340.0138.5239.9138.68
    Interest income to Earning assets (%)6.997.477.667.458.24
    Interest Expense to Earning assets (%)2.993.724.063.854.46
    Price to Earnings (x)50.0041.8452.6349.0247.17
    Price to Book (x)5.505.116.015.335.81
    Price to Sales (x)12.959.2110.6510.129.07
    Operating Profit Margin (%)5.602.131.090.16-0.37
  • MANAGEMENT DISCUSSION AND ANALYSIS (FY 20-21)

    • Wholesale Banking

      Wholesale Banking?s experience in the two halves of this year stand in contrast to each other. During the first half of the year, in the face of significant challenges from COVID related economic disruptions, and as a prudent risk measure, the Bank was cautious in its exposures. While the Bank was measured in taking fresh long-term exposures, working capital utilisations were impacted due to a slowdown in economic activity. Assets and most of the fee income lines were therefore muted. As the first COVID-19 wave slumped and economic activity rebounded sharply, the Bank too started cautiously increasing its exposures and the second half of the year saw a return of growth in the Bank?s Assets and most of the fee income streams. Despite such significant economic disruptions as seen during the pandemic, the Bank?s portfolio has remained healthy.

    • Wealth management

      The Bank?s private banking arm, caters to a number of distinguished Indian families and is one of the oldest and the most respected Indian wealth management firms, managing wealth for 51% of India?s top 100 families (Source: Forbes India Rich List 2020), with clients range from entrepreneurs to business families and professionals. In addition, the Bank has also built a large Priority Banking business, assisting mass affluent customers with products and solutions developed to meet their financial requirements. The total relationship value of Wealth, Priority and Investment Advisory offerings is Rs 382,000 crore (as of 31st March, 2021). It has added 600 new families in 2020.

    • Employee Cost

      Employee cost of the Bank has decreased to ` 3,729.1 crore for FY 2020-21 compared to ` 3,877.6 crore for FY 2019-20 primarily due to decrease in retirement obligations. The retirement obligation relating to pension and gratuity was higher in FY 2019-20 owing to lower interest rates, increase in annuity rates by LIC and decrease in return on retirement benefit funds. The above was offset, in part, by increase in employee base to 51,734 as on 31st March, 2021 from 50,034 as on 31st March, 2020 and employee incentives.

Financial InsightsKotak Mahindra Bank Ltd.

  • Income (P&L)
  • Cash Flow
    • Profit Per Employee - Uptrend

      Net profit per employee has been continuously increasing over the last 3 years with a growth of 13.34% last year. (Source: Standalone Financials)

    • Quarterly Topline Performance

      Company witnessed QoQ revenue decline of 20.87%, which is lowest in the last 3 years. (Source: Consolidated Financials)

    • Cash from Operations vs PAT

      Operating cash flow of Rs 4881.13 cr is 0.49 times compared to the reported net profit of Rs 9990.2 cr. (Source: Consolidated Financials)

    • Decrease in Cash from Investing

      Company has used Rs 11116.14 cr for investing activities which is an YoY decrease of 15.78%. (Source: Consolidated Financials)

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Forecast

  • PRICE

  • REVENUE

  • EARNINGS

  • Forecast

    Forecast

    Current Year - 2021

    1,750.90-2.80 (-0.16%)

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  • Forecast

    • Estimated
    • Actual

    Forecast

    Analysis for

    All values are in (Cr), unless mentioned otherwise

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  • Forecast

    • Estimated
    • Actual

    Forecast

    Analysis for

    All values are in , unless mentioned otherwise

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Technicals

  • Buy / Sell Signals

  • Price Analysis

  • Pivot Levels & ATR

  • Chart

  • Bullish / Bearish signals for Kotak Mahindra Bank Ltd. basis selected technical indicators and moving average crossovers.

    50 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 31 Aug 2021

    50D EMA: 1740.35

    Last 4 Buy Signals:4 Aug 2021

    Average price gain of 4.83% within 30 days of Bullish signal in last 5 years

    10 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 30 Aug 2021

    10D EMA: 1726.33

    Last 4 Buy Signals:4 Aug 2021

    Average price gain of 2.42% within 7 days of Bullish signal in last 5 years

    Show More

  • 47%

    Positive Movement since
    1st Jan 2005 on basis

    53%

    Negative Movement since
    1st Jan 2005 on basis

    Exclude

  • Pivot Levels

    R1R2R3PIVOTS1S2S3
    Classic1758.531764.121779.971748.271742.681732.421716.57

    Average True Range

    5 DAYS14 DAYS28 DAYS
    ATR26.1831.3833.71

Peer Comparison

  • Stock Performance

  • Ratio Performance

    • CHART
    • TABLE

    Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 36.24% as compared to Nifty 100 which gave a return of 43.0%. (as of last trading session)
    • Stock Returns vs Nifty Bank

      Stock generated 36.24% return as compared to Nifty Bank which gave investors 29.53% return over 3 year time period. (as of last trading session)
    • 1D
    • 1W
    • 1M
    • 3M
    • 6M
    • 1Y
    • 5Y
  • Insights

    • Stock Returns vs Nifty 100

      Stock gave a 3 year return of 36.24% as compared to Nifty 100 which gave a return of 43.0%. (as of last trading session)
    • Stock Returns vs Nifty Bank

      Stock generated 36.24% return as compared to Nifty Bank which gave investors 29.53% return over 3 year time period. (as of last trading session)

    Ratio Performance

    NAMEP/E (x)P/B (x)ROE %ROA %Rev CAGR [3Yr]OPMNPMNIM %Cost to Income %Interest income to Earning assets %Net NPA %Capital Adequacy Ratio %
    Kotak Bank34.854.0811.842.0813.40-42.9330.434.1459.746.851.2122.26
    ICICI Bank25.143.0111.901.1610.58-58.1020.612.9560.935.662.1019.12
    Axis Bank29.102.376.940.7111.28-13.7511.122.9447.826.401.0519.12
    IndusInd Bank22.581.786.780.8017.05-12.3110.103.7248.167.990.6917.38
    Bandhan Bank22.622.6412.661.9138.050.7617.606.5751.0210.893.5123.47
    Add More

    Annual Ratios (%)

    Choose from Peers

    • YES Bank
    • IDFC First Bank
    • Federal Bank
    • City Union Bank
    • RBL Bank

    See All Parameters

Peers InsightsKotak Mahindra Bank Ltd.

  • Stock Returns vs Nifty 100

    Stock gave a 3 year return of 36.24% as compared to Nifty 100 which gave a return of 43.0%. (as of last trading session)

  • Stock Returns vs Nifty Bank

    Stock generated 36.24% return as compared to Nifty Bank which gave investors 29.53% return over 3 year time period. (as of last trading session)

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Shareholding Pattern

  • QOQ Change

  • Total Shareholdings

  • Showing Shareholding as on 30 Jun 2021

    Category30 Jun 202131 Mar 202131 Dec 202030 Jun 2020
    Promoters26.0026.0226.0326.07
    Pledge0.000.000.000.00
    FII42.7744.2345.0942.15
    DII14.6213.5312.9115.27
    Mutual Funds8.398.037.589.84
    Others16.6116.2215.9716.51
  • Showing Shareholding as on 30 Jun 2021

    CategoryNo. of SharesPercentage% Change QoQ
    Promoters51,55,83,26426.00 %-0.02
    Pledge00.00 %0.00
    FII84,79,39,20542.77 %-1.46
    DII28,98,98,98014.62 %1.09
    MF16,64,43,0568.39 %0.36
    Others32,92,54,33216.61 %0.39

MF Ownership

    • 1,381.87

      Amount Invested (in Cr.)

    • 4.46%

      % of AUM

    • -12.22

      % Change (MoM basis)

    • 1,146.78

      Amount Invested (in Cr.)

    • 3.93%

      % of AUM

    • -16.51

      % Change (MoM basis)

    • 880.72

      Amount Invested (in Cr.)

    • 4.93%

      % of AUM

    • -8.59

      % Change (MoM basis)

MF Ownership as on 31 July 2021

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F&O Quote

  • Futures

  • Options

    • Expiry

    Price

    1,754.90-3.95 (-0.22%)

    Open Interest

    1,59,17,600-101,600 (-0.64%)

    OpenHighLowPrev CloseContracts TradedTurnover (₹ Lakhs)
    1,755.901,761.001,743.001,758.857,14050,140.22

    Open Interest as of 31 Aug 2021

Corporate Actions

  • Board Meeting/AGM

  • Dividends

  • Others
  • Meeting DateAnnounced onPurposeDetails
    Aug 25, 2021Aug 02, 2021AGM-
    Jul 26, 2021Jul 12, 2021Board MeetingQuarterly Results
    May 29, 2021May 26, 2021Board MeetingOthers
    May 03, 2021Apr 26, 2021Board MeetingAudited Results & Dividend
    Mar 24, 2021Feb 22, 2021POM-
  • TypeDividendDividend per ShareEx-Dividend DateAnnounced on
    Final18%0.9Aug 11, 2021May 03, 2021
    Final0%0.0Mar 18, 2021Mar 09, 2021
    Final0%0.0Mar 19, 2020Mar 09, 2020
    Final16%0.8Jul 12, 2019Apr 30, 2019
    Final8%0.405Mar 20, 2019Mar 08, 2019
  • All TypesEx-DateRecord DateAnnounced onDetails
    BonusJul 08, 2015Jul 09, 2015May 05, 2015Bonus Ratio: 1 share(s) for every 1 shares held
    SplitsSep 13, 2010Sep 14, 2010May 11, 2010Split: Old FV10.0| New FV:5.0
    BonusAug 25, 2005Aug 26, 2005Jun 07, 2005Bonus Ratio: 3 share(s) for every 2 shares held
    BonusAug 25, 2004Aug 26, 2004May 25, 2004Bonus Ratio: 1 share(s) for every 1 shares held
    RightsJan 31, 2000Feb 15, 2000Jan 21, 2000Rights ratio: 1 share for every 4 held at a price of Rs 100.0

About Kotak Bank

Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 347,701.85 Crore).Kotak Mahindra Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021. Show More

  • Executives

  • Auditors

  • UK

    Uday Kotak

    Managing Director & CEO

    DG

    Dipak Gupta

    Joint Managing Director

    GS

    Gaurang Shah

    Whole Time Director

    KV

    K V S Manian

    Whole Time Director

    CJ

    C Jayaram

    Non Executive Director

    Show More

  • Walker Chandiok & Co. LLP

Key Indices Listed on

Nifty 50, S&P BSE Sensex, Nifty Bank, + 33 more

Address

27 BKC, C-27, G-Block,Bandra Kurla Complex,Mumbai, Maharashtra - 400051

More Details

Brands

Kotak Bank Share Price Update

Kotak Mahindra Bank Ltd. share price moved down by -0.16% from its previous close of Rs 1,753.70. Kotak Mahindra Bank Ltd. stock last traded price is 1,750.90

Share PriceValue
Today/Current/Last1,750.90
Previous Day1,753.70

Trending in Markets

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