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Consolidated Standalone

Axis Bank

₹1186.1 18.8 | 1.6%

Market Cap ₹367038 Cr.

Stock P/E 13.9

P/B 2.1

Current Price ₹1186.1

Book Value ₹ 553.9

Face Value 2

52W High ₹1339.6

Dividend Yield 0.08%

52W Low ₹ 996

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.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Interest Earned 19193 20783 22843 24630 26246 27418 28865 30231 31159 31601
Other Income 3423 4390 5148 5388 5648 5705 6272 7606 6637 7603
Total Income 22616 25173 27990 30018 31894 33122 35137 37836 37796 39204
Interest Expense 9565 10150 11094 12580 13972 14749 15943 16727 17261 17615
Operating Expenditure 6784 6903 7132 7793 8671 9207 9457 9907 9790 10137
Provisions and contingencies 384 547 1446 308 1060 852 1049 1217 2102 2275
Operating Profit 5883 7573 8319 9336 8192 8314 8688 9985 8643 9177
Profit Before Tax 5883 7573 8319 -3153 8192 8314 8688 9985 8643 9177
Provision for Tax 1494 1947 2110 2218 2093 2096 2194 2371 2193 1768
Profit After Tax 4389 5625 6209 -5371 6099 6218 6493 7614 6450 7409
Adjustments -9 -13 -22 9 -8 -14 -2 -15 -14 -8
Profit After Adjustments 4381 5612 6187 -5362 6091 6204 6492 7599 6436 7401
Adjusted Earnings Per Share 14.3 18.3 20.1 -17.4 19.8 20.1 21 24.6 20.8 23.9

Axis Bank Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Interest Earned 30736 35727 41409 45175 46614 56044 63716 64397 68846 87448 112759 121856
Other Income 7766 8838 9955 12422 11863 14189 16342 13577 17268 18349 25230 28118
Total Income 38502 44566 51364 57597 58477 70232 80058 77974 86114 105797 137989 149973
Interest Expense 18703 21341 24344 26789 27604 33883 37996 34627 34923 43389 61391 67546
Operating Expenditure 8210 9610 10611 12726 14788 16720 18066 19175 24824 40870 37243 39291
Provisions and contingencies 2110 2330 3719 12128 15519 12037 18716 14422 7438 2917 4178 6643
Operating Profit 9480 11284 12690 5954 566 7592 5280 9750 18929 18621 35178 36493
Profit Before Tax 9480 11284 12690 5954 566 7592 5280 9750 18929 18621 35178 36493
Provision for Tax 3171 3836 4332 1987 102 2545 3401 2498 4765 7769 8754 8526
Profit After Tax 6309 7448 8358 3967 464 5047 1879 7252 14164 10853 26424 27966
Adjustments 1 -1 -8 -14 -8 -9 -26 -57 -45 -34 -37 -39
Profit After Adjustments 6310 7448 8350 3953 456 5039 1853 7196 14119 10818 26386 27928
Adjusted Earnings Per Share 26.9 31.4 35 16.5 1.8 19.6 6.6 23.5 46 35.2 85.5 90.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 29% 21% 15% 14%
Operating Profit CAGR 89% 53% 36% 14%
PAT CAGR 143% 54% 39% 15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 6% 21% 11% 9%
ROE Average 19% 13% 10% 11%
ROCE Average 14% 11% 9% 10%

Axis Bank Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 38396 44950 53559 56380 64207 67803 86340 103594 118261 129782 157024
Minority's Interest 13 31 39 61 70 85 114 174 261 393 499
Deposits 280541 322244 358302 414983 455658 550746 642157 698303 821165 945825 1067102
Borrowings 52739 84394 113848 112455 155767 161250 155180 152249 199778 206214 228200
Other Liabilities & Provisions 14661 15625 20639 27583 28002 34163 44080 46686 56314 62205 65414
Total Liabilities 386350 467243 546387 611462 703703 814046 927872 1001005 1195779 1344418 1518239
Cash and balance with RBI 17041 19819 22361 30858 35481 35099 84959 51809 94035 66118 86077
Bank Balance 11541 16673 11342 20108 8430 32905 12841 11616 18309 42590 30416
Investments 113093 118527 131399 129018 153037 174056 155282 225336 274608 288095 332354
Advances 232382 284449 344663 381165 449844 506656 582959 625750 725376 868388 999333
Fixed Assets 2346 2447 3358 3518 3697 3842 3912 4211 4464 4710 5571
Other Assets 9846 25224 33048 46503 52863 61200 87437 82165 78772 74375 64221
Total Assets 386350 467243 546387 611462 703703 814046 927872 1001005 1195779 1344418 1518239

Axis Bank Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 20500 28582 36492 33703 50966 43911 68004 97800 63424 112344 108708
Cash Flow from Operating Activities 14464 -15163 -34495 32209 -38390 37125 30416 12633 28137 22075 -5555
Cash Flow from Investing Activities -14057 -7912 9225 -12443 -10047 -18691 -9659 -54195 -27232 -32694 -9088
Cash Flow from Financing Activities 7785 31045 22495 -2487 41342 5643 8865 7279 47894 6641 22341
Net Cash Inflow / Outflow 8191 7970 -2775 17279 -7095 24076 29622 -34283 48799 -3979 7698
Closing Cash & Cash Equivalent 28582 36492 33703 50966 43911 68004 97800 63424 112344 108708 116493

Axis Bank Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 26.86 31.42 35.04 16.51 1.78 19.59 6.57 23.49 45.99 35.16 85.49
CEPS(Rs) 28.45 33.19 37.01 18.76 4.11 22.49 9.52 26.86 49.55 77.99 90.1
DPS(Rs) 4 4.6 5 5 0 1 0 0 1 1 1
Book NAV/Share(Rs) 163.44 189.62 224.77 235.41 250.17 263.65 305.99 338.13 384.75 420.42 505.84
Yield on Advances 13.23 12.56 12.01 11.85 10.36 11.06 10.93 10.29 9.49 10.07 11.28
Yield on Investments 7.7 8.01 7.97 10 7.44 6.99 8.67 6.62 5.76 6.45 6.48
Cost of Liabilities 5.61 5.25 5.16 5.08 4.51 4.76 4.77 4.07 3.42 3.77 4.74
NIM (Net Interest Margin) 3.22 3.27 3.35 3.28 2.94 2.96 3.08 3.26 3.05 3.48 3.55
Interest Spread 7.61 7.31 6.86 6.77 5.85 6.3 6.16 6.22 6.07 6.3 6.54
ROA(%) 1.74 1.75 1.65 0.69 0.07 0.67 0.22 0.75 1.29 0.85 1.85
ROE(%) 17.63 17.87 16.97 7.22 0.77 7.65 2.44 7.64 12.78 8.77 18.51
ROCE(%) 15.14 14.08 12.48 7.79 4.62 7.9 5.89 7.16 9.47 9.26 14.16
PER(x) 10.87 17.84 12.69 29.74 286.82 39.61 57.75 29.7 16.54 24.42 12.26
Price/Book(x) 1.79 2.96 1.98 2.08 2.04 2.94 1.24 2.06 1.98 2.04 2.07
Dividend Yield(%) 1.37 0.82 1.12 1.02 0 0.13 0 0 0.13 0.12 0.1
EV/Net Sales(x) 3.95 6.08 5.31 5.09 6.15 6.44 4.12 5.68 6.29 5.38 4.89
EV/Core EBITDA(x) 10.47 15.96 13.39 12.72 17.81 18.38 10.93 15.14 16.43 21.84 14.02
Interest Earned Growth(%) 12.99 16.24 15.9 9.09 3.19 20.23 13.69 1.07 6.91 27.02 28.94
Net Profit Growth 20.55 18.06 12.21 -52.53 -88.3 987.68 -62.78 286.02 95.31 -23.38 143.48
Advances Growth 17.97 22.41 21.17 10.59 18.02 12.63 15.06 7.34 15.92 19.72 15.08
EPS Growth(%) 17.54 16.97 11.53 -52.9 -89.24 1003.2 -66.48 257.61 95.84 -23.56 143.13
Loans/Deposits(x) 18.8 26.19 31.77 27.1 34.19 29.28 24.17 21.8 24.33 21.8 21.39
Cash/Deposits(x) 0.06 0.06 0.06 0.07 0.08 0.06 0.13 0.07 0.11 0.07 0.08
Current Ratio(x) 0.4 0.37 0.37 0.31 0.34 0.32 0.24 0.32 0.33 0.3 0.31
Quick Ratio(x) 18.8 26.19 31.77 27.1 34.19 29.28 24.17 21.8 24.33 21.8 21.39
CASA % 45.06 44.76 47.25 51.22 53.49 44.18 41.01 45.44 44.98 47.13 42.97

Axis Bank Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 9.49 9.48 7.98 7.96 7.95 7.95 7.94 7.93 7.92 7.92
FII 45.55 45.16 48.18 47.86 50.48 51.22 52.92 51.96 50.96 49.42
DII 30.77 31.59 30.7 31.23 29.04 28.05 27.9 29.08 30.18 31.71
Public 11.98 11.7 10.56 10.54 9.62 9.43 8.02 7.54 6.33 6.41
Others 2.21 2.07 2.58 2.42 2.91 3.35 3.22 3.48 4.6 4.54
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 39% CAGR over last 5 years

Cons

  • Promoter holding is low: 7.92%.
  • Company has a low return on equity of 13% 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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