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Consolidated Standalone

Axis Bank

₹1120.4 5.2 | 0.5%

Market Cap ₹345998 Cr.

Stock P/E 13.1

P/B 2.2

Current Price ₹1120.4

Book Value ₹ 505.6

Face Value 2

52W High ₹1182.8

Dividend Yield 0.09%

52W Low ₹ 889.1

Edit Ratio

Axis Bank Research see more...

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Equity Research: Axis Bank

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Equity Research Report: Axis Bank-Q4FY23

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Equity Research Report: Axis Bank

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Equity Research: Axis Bank Ltd

Overview Inc. Year: 1993Industry: Bank - Private

Axis Bank Limited (the Bank) gives commercial banking operations for retail and corporate customers. The Bank's segments consist of Treasury, Retail Banking, Corporate/Wholesale Banking and Other Banking Business. Its Treasury operations consist of investments in sovereign and company debt, equity and mutual funds, trading operations, derivative buying and selling and forex operations on the proprietary account and for clients. Its Retail Banking constitutes lending to individual people/small companies and activities include legal responsibility products, card services, Internet banking, mobile banking and financial advisory offerings, among others. Its Corporate Banking includes company relationships not covered under Retail Banking, company advisory offerings, placements and syndication, venture value determinations, capital market associated services and cash management services. Its Other Banking Business includes para banking activities, such as third party product distribution and banking transactions.

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Axis Bank Share Price

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Peer Comparison

Axis Bank Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Interest Earned 17653 18209 19193 20783 22843 24630 26246 27418 28865 30231
Other Income 4438 4792 3423 4390 5148 5388 5648 5705 6272 7606
Total Income 22091 23001 22616 25173 27990 30018 31894 33122 35137 37836
Interest Expense 8795 9162 9565 10150 11094 12580 13972 14749 15943 16727
Operating Expenditure 6631 6952 6784 6903 7132 7793 8671 9207 9457 9907
Provisions and contingencies 1363 984 384 547 1446 308 1060 852 1049 1217
Operating Profit 5301 5903 5883 7573 8319 9336 8192 8314 8688 9985
Profit Before Tax 5301 5903 5883 7573 8319 -3153 8192 8314 8688 9985
Provision for Tax 1328 1469 1494 1947 2110 2218 2093 2096 2194 2371
Profit After Tax 3973 4434 4389 5625 6209 -5371 6099 6218 6493 7614
Adjustments -16 -16 -9 -13 -22 9 -8 -14 -2 -15
Profit After Adjustments 3957 4418 4381 5612 6187 -5362 6091 6204 6492 7599
Adjusted Earnings Per Share 12.9 14.4 14.3 18.3 20.1 -17.4 19.8 20.1 21 24.6

Axis Bank Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Interest Earned 27202 30736 35727 41409 45175 46614 56044 63716 64397 68846 87448 112760
Other Income 6833 7766 8838 9955 12422 11863 14189 16342 13577 17268 18706 25231
Total Income 34035 38502 44566 51364 57597 58477 70232 80058 77974 86114 106155 137989
Interest Expense 17513 18703 21341 24344 26789 27604 33883 37996 34627 34923 43389 61391
Operating Expenditure 7141 8210 9610 10611 12726 14788 16720 18066 19175 24824 41227 37242
Provisions and contingencies 1756 2110 2330 3719 12128 15519 12037 18716 14422 7438 2917 4178
Operating Profit 7625 9480 11284 12690 5954 566 7592 5280 9750 18929 18621 35179
Profit Before Tax 7625 9480 11284 12690 5954 566 7592 5280 9750 18929 18621 35179
Provision for Tax 2391 3171 3836 4332 1987 102 2545 3401 2498 4765 7769 8754
Profit After Tax 5234 6309 7448 8358 3967 464 5047 1879 7252 14164 10853 26424
Adjustments 113 1 -1 -8 -14 -8 -9 -26 -57 -45 -34 -39
Profit After Adjustments 5347 6310 7448 8350 3953 456 5039 1853 7196 14119 10818 26386
Adjusted Earnings Per Share 22.9 26.9 31.4 35 16.5 1.8 19.6 6.6 23.5 46 35.2 85.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 27% 11% 13% 12%
Operating Profit CAGR -2% 52% 101% 9%
PAT CAGR -23% 79% 88% 8%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 26% 16% 9% 13%
ROE Average 9% 10% 8% 11%
ROCE Average 9% 9% 8% 10%

Axis Bank Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 33158 38396 44950 53559 56380 64207 67803 86340 103594 118261 129782
Minority's Interest 13 13 31 39 61 70 85 114 174 261 393
Deposits 252149 280541 322244 358302 414983 455658 550746 642157 698303 821165 945825
Borrowings 44105 52739 84394 113848 112455 155767 161250 155180 152249 199778 206214
Other Liabilities & Provisions 11133 14661 15625 20639 27583 28002 34163 44080 46686 56314 62205
Total Liabilities 340558 386350 467243 546387 611462 703703 814046 927872 1001005 1195779 1344418
Cash and balance with RBI 14792 17041 19819 22361 30858 35481 35099 84959 51809 94035 66118
Bank Balance 5708 11541 16673 11342 20108 8430 32905 12841 11616 18309 42590
Investments 113378 113093 118527 131399 129018 153037 174056 155282 225336 274608 288095
Advances 196990 232382 284449 344663 381165 449844 506656 582959 625750 725376 868388
Fixed Assets 2245 2346 2447 3358 3518 3697 3842 3912 4211 4464 4710
Other Assets 7302 9846 25224 33048 46503 52863 61200 87437 82165 78772 74375
Total Assets 340558 386350 467243 546387 611462 703703 814046 927872 1001005 1195779 1344418

Axis Bank Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 13934 20500 28582 36492 33703 50966 43911 68004 97800 63424 112344
Cash Flow from Operating Activities 2573 14464 -15163 -34495 32209 -38390 37125 30416 12633 28137 22075
Cash Flow from Investing Activities -11332 -14057 -7912 9225 -12443 -10047 -18691 -9659 -54195 -27232 -32694
Cash Flow from Financing Activities 14931 7785 31045 22495 -2487 41342 5643 8865 7279 47894 6641
Net Cash Inflow / Outflow 6173 8191 7970 -2775 17279 -7095 24076 29622 -34283 48799 -3979
Closing Cash & Cash Equivalent 20500 28582 36492 33703 50966 43911 68004 97800 63424 112344 108708

Axis Bank Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 22.85 26.86 31.42 35.04 16.51 1.78 19.59 6.57 23.49 45.99 35.16
CEPS(Rs) 23.9 28.45 33.19 37.01 18.76 4.11 22.49 9.52 26.86 49.55 77.99
DPS(Rs) 3.6 4 4.6 5 5 0 1 0 0 1 1
Book NAV/Share(Rs) 141.72 163.44 189.62 224.77 235.41 250.17 263.65 305.99 338.13 384.75 420.42
Yield on Advances 13.81 13.23 12.56 12.01 11.85 10.36 11.06 10.93 10.29 9.49 10.07
Yield on Investments 7.39 7.7 8.01 7.97 10 7.44 6.99 8.67 6.62 5.76 6.24
Cost of Liabilities 5.91 5.61 5.25 5.16 5.08 4.51 4.76 4.77 4.07 3.42 3.77
NIM (Net Interest Margin) 2.93 3.22 3.27 3.35 3.28 2.94 2.96 3.08 3.26 3.05 3.48
Interest Spread 7.9 7.61 7.31 6.86 6.77 5.85 6.3 6.16 6.22 6.07 6.3
ROA(%) 1.67 1.74 1.75 1.65 0.69 0.07 0.67 0.22 0.75 1.29 0.85
ROE(%) 18.75 17.63 17.87 16.97 7.22 0.77 7.65 2.44 7.64 12.78 8.77
ROCE(%) 15.13 15.14 14.08 12.48 7.79 4.62 7.9 5.89 7.16 9.47 9.26
PER(x) 11.39 10.87 17.84 12.69 29.74 286.82 39.61 57.75 29.7 16.54 24.41
Price/Book(x) 1.84 1.79 2.96 1.98 2.08 2.04 2.94 1.24 2.06 1.98 2.04
Dividend Yield(%) 1.38 1.37 0.82 1.12 1.02 0 0.13 0 0 0.13 0.12
EV/Net Sales(x) 3.86 3.95 6.08 5.31 5.09 6.15 6.44 4.12 5.68 6.29 5.38
EV/Core EBITDA(x) 11.19 10.47 15.96 13.39 12.72 17.81 18.38 10.93 15.14 16.43 21.84
Interest Earned Growth(%) 23.67 12.99 16.24 15.9 9.09 3.19 20.23 13.69 1.07 6.91 27.02
Net Profit Growth 24.07 20.55 18.06 12.21 -52.53 -88.3 987.68 -62.78 286.02 95.31 -23.38
Advances Growth 16.04 17.97 22.41 21.17 10.59 18.02 12.63 15.06 7.34 15.92 19.72
EPS Growth(%) 11.89 17.54 16.97 11.53 -52.9 -89.24 1003.2 -66.48 257.61 95.84 -23.56
Loans/Deposits(x) 17.49 18.8 26.19 31.77 27.1 34.19 29.28 24.17 21.8 24.33 21.8
Cash/Deposits(x) 0.06 0.06 0.06 0.06 0.07 0.08 0.06 0.13 0.07 0.11 0.07
Current Ratio(x) 0.45 0.4 0.37 0.37 0.31 0.34 0.32 0.24 0.32 0.33 0.3
Quick Ratio(x) 17.49 18.8 26.19 31.77 27.1 34.19 29.28 24.17 21.8 24.33 21.8
CASA % 44.41 45.06 44.76 47.25 51.22 53.49 44.18 41.01 45.44 44.98 47.12

Axis Bank Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 9.5 9.49 9.49 9.48 7.98 7.96 7.95 7.95 7.94 7.93
FII 46.4 45.94 45.55 45.16 48.18 47.86 50.48 51.22 52.92 51.96
DII 29.55 29.85 30.77 31.59 30.7 31.23 29.04 28.05 27.9 29.08
Public 12.36 12.46 11.98 11.7 10.56 10.54 9.62 9.43 8.02 7.54
Others 2.19 2.26 2.21 2.07 2.58 2.42 2.91 3.35 3.22 3.48
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 87% CAGR over last 5 years

Cons

  • Promoter holding is low: 7.93%.
  • Company has a low return on equity of 10% over the last 3 years.

* 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.

Axis Bank News

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