Axis Bank Ltd
Axis Bank Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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71 extracted metrics + investor summaries across FY09–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
2- Company has delivered good profit growth of 29.6% CAGR over last 5 years
- Company's working capital requirements have reduced from 73.7 days to 43.2 days
Weaknesses
5- Company has low interest coverage ratio.
- Promoter holding is low: 7.87%
- Contingent liabilities of Rs.31,22,124 Cr.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.29,292 Cr.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 6d agoAxis Bank Ltd trades at a market cap of Rs.3,79,842 Cr with a P/E of 13.7x and P/B of 1.72x. The bank delivered strong 5-year profit CAGR of ~30% but TTM profit growth has flatlined at 0%, while sales growth has decelerated to 6% TTM from a 3-year CAGR of 15%.
- Strong 5-year compounded profit growth of 30% CAGR demonstrates earnings recovery and scaling capacity
- Reasonable valuation at P/E of 13.7x, below many large-cap private bank peers
- 3-year ROE of 16% indicates improving return profile versus the 10-year average of 11%
- Working capital days reduced significantly from 73.7 days to 43.2 days, signaling better operational efficiency
- P/B ratio of 1.72x is modest for a large private sector bank with Rs.3.8 lakh Cr market cap
- 5-year compounded sales growth of 16% shows consistent top-line expansion over a meaningful period
- Stock has delivered 15% return over the past 1 year, outperforming its 10-year CAGR of 8%
- TTM profit growth has stalled at 0%, a sharp deceleration from the 3-year CAGR of 35%
- Contingent liabilities are extremely high at Rs.31,22,124 Cr, representing significant off-balance-sheet risk
- Promoter holding is low at just 7.87%, which limits promoter alignment and governance oversight
- Low interest coverage ratio raises concerns about ability to service debt obligations under stress
- Other income of Rs.29,292 Cr forms a material portion of earnings, raising questions about core operating profit quality
- TTM sales growth has decelerated sharply to 6% from 15% over 3 years, suggesting slowing loan growth or NII compression
- Last year ROE declined to 13% from the 3-year average of 16%, indicating possible margin pressure
- Potential capitalization of interest cost may overstate asset quality and understate true expenses
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 17h ago- $600M GMTN notes at 5.348% Aug 4
Axis Bank priced USD 600 million in Senior Notes under its GMTN programme at 5.348% coupon, maturing June 2031, to list on India INX and NSE IFSC.
- $300M senior notes allotted Aug 12
Axis Bank allotted US$300 million in Senior Notes at 5.348% coupon under its GMTN Programme, listing on IFSC exchanges.
- $300M notes priced at 5.179% Aug 17
Axis Bank priced an additional $300 million in senior notes at a lower 5.179% coupon under its GMTN programme, signalling improved pricing power in international debt markets.
- Block trades show institutional interest Jul 22
Multiple block trades between Jul 22-29 totalling over ₹800 crores at prices ranging from ₹1,220-1,265 per share reflect sustained institutional participation in Axis Bank.
- Singapore investor meet held Aug 18
Axis Bank hosted India Corporate Day 2026 in Singapore on August 18 with 17 institutional investors including Citadel and State Street Global Advisors.
- Mumbai investor meets conducted Aug 4
Axis Bank held group meetings with institutional investors in Mumbai on August 4 and scheduled another on August 10 under SEBI disclosure norms.
- LIC withdraws board nominee Jul 29
LIC withdrew Mini Ipe's nomination as Non-Executive Director of Axis Bank effective July 29, 2026.
- Q1FY27 earnings call transcript filed Jul 24
Axis Bank disclosed the transcript of its Q1FY27 earnings call held on July 18, 2026 for the quarter ended June 30, 2026.
TL;DR: Axis Bank is actively tapping international debt markets, raising over $1.2 billion through multiple GMTN issuances in August with coupon rates trending down from 5.348% to 5.179%, reflecting strong global investor appetite. Sustained institutional block trades at ₹1,220-1,265 levels and active investor engagement across Singapore and Mumbai signal confidence. No material headwinds emerged in this period. The improving pricing on successive note issuances suggests strengthening credit perception going forward.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26,246 | 27,418 | 28,865 | 30,231 | 31,159 | 31,601 | 32,162 | 32,452 | 32,348 | 32,310 | 33,709 | 34,171 | 35,542 |
| Expenses | 9,731 | 10,059 | 10,506 | 11,124 | 11,892 | 12,412 | 11,913 | 11,943 | 13,983 | 14,302 | 12,743 | 14,816 | 12,837 |
| Financing Profit | 2,543 | 2,609 | 2,416 | 2,379 | 2,006 | 1,575 | 2,210 | 2,389 | 127 | 36 | 2,181 | 275 | 2,490 |
| Fin. Margin % | 10% | 10% | 8% | 8% | 6% | 5% | 7% | 7% | 0% | 0% | 6% | 1% | 7% |
| Other Income | 5,648 | 5,705 | 6,272 | 7,606 | 6,637 | 7,603 | 6,797 | 7,506 | 8,053 | 7,460 | 7,189 | 6,972 | 7,671 |
| Interest | 13,972 | 14,749 | 15,943 | 16,727 | 17,261 | 17,615 | 18,040 | 18,121 | 18,239 | 17,971 | 18,785 | 19,080 | 20,215 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 8,192 | 8,314 | 8,688 | 9,985 | 8,643 | 9,177 | 9,007 | 9,895 | 8,180 | 7,496 | 9,371 | 7,247 | 10,161 |
| Tax % | 26% | 25% | 25% | 24% | 25% | 19% | 25% | 24% | 23% | 26% | 25% | -5% | 25% |
| Net Profit | 6,113 | 6,230 | 6,520 | 7,630 | 6,467 | 7,436 | 6,779 | 7,509 | 6,279 | 5,567 | 7,060 | 7,642 | 7,670 |
| EPS in Rs | 19.78 | 20.13 | 21.05 | 24.62 | 20.83 | 23.93 | 21.78 | 24.13 | 20.13 | 17.82 | 22.58 | 24.46 | 24.54 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 35,727 | 41,409 | 45,175 | 46,614 | 56,044 | 63,716 | 64,397 | 68,846 | 87,448 | 1,12,759 | 1,27,374 | 1,32,538 | 1,35,732 |
| Expenses | 11,521 | 13,869 | 24,327 | 29,717 | 28,020 | 35,976 | 32,621 | 31,216 | 30,644 | 40,036 | 46,395 | 53,954 | 54,698 |
| Financing Profit | 2,865 | 3,196 | -5,941 | -10,706 | -5,860 | -10,256 | -2,851 | 2,707 | 13,416 | 11,333 | 9,943 | 4,509 | 4,983 |
| Fin. Margin % | 8% | 8% | -13% | -23% | -10% | -16% | -4% | 4% | 15% | 10% | 8% | 3% | 4% |
| Other Income | 8,838 | 9,955 | 12,422 | 11,863 | 14,189 | 16,342 | 13,577 | 17,268 | 18,349 | 25,230 | 28,543 | 29,674 | 29,292 |
| Interest | 21,341 | 24,344 | 26,789 | 27,604 | 33,883 | 37,996 | 34,627 | 34,923 | 43,389 | 61,391 | 71,036 | 74,075 | 76,051 |
| Depreciation | 420 | 461 | 527 | 591 | 737 | 806 | 976 | 1,046 | 13,143 | 1,385 | 1,763 | 1,889 | 0 |
| PBT | 11,283 | 12,690 | 5,954 | 566 | 7,592 | 5,280 | 9,750 | 18,929 | 18,621 | 35,178 | 36,722 | 32,293 | 34,275 |
| Tax % | 34% | 34% | 33% | 18% | 34% | 64% | 26% | 25% | 42% | 25% | 23% | 18% | — |
| Net Profit | 7,450 | 8,358 | 3,967 | 464 | 5,047 | 1,879 | 7,252 | 14,207 | 10,919 | 26,492 | 28,191 | 26,548 | 27,939 |
| EPS in Rs | 31.42 | 35.04 | 16.51 | 1.78 | 19.59 | 6.57 | 23.49 | 45.99 | 35.16 | 85.49 | 90.58 | 84.89 | 89.4 |
| Div. Payout % | 15% | 14% | 30% | 0% | 5% | 0% | 0% | 2% | 3% | 1% | 1% | 1% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 474 | 477 | 479 | 513 | 514 | 564 | 613 | 614 | 615 | 617 | 619 | 622 |
| Reserves | 44,475 | 53,082 | 55,901 | 63,694 | 67,288 | 85,776 | 1,02,981 | 1,17,647 | 1,29,166 | 1,56,406 | 1,86,616 | 2,14,414 |
| Borrowing | 84,394 | 1,13,848 | 1,12,455 | 1,55,767 | 1,61,250 | 1,55,180 | 1,52,249 | 1,99,778 | 2,06,214 | 2,28,200 | 2,20,687 | 2,80,511 |
| Deposits | 3,22,244 | 3,58,302 | 4,14,983 | 4,55,658 | 5,50,746 | 6,42,157 | 6,98,303 | 8,20,914 | 9,45,825 | 10,67,102 | 11,70,921 | 13,33,791 |
| Other Liabilities | 15,656 | 20,678 | 27,644 | 28,071 | 34,248 | 44,194 | 46,859 | 56,576 | 62,598 | 65,913 | 78,119 | 1,16,713 |
| Total Liabilities | 4,67,243 | 5,46,387 | 6,11,462 | 7,03,703 | 8,14,046 | 9,27,872 | 10,01,005 | 11,95,529 | 13,44,418 | 15,18,239 | 16,56,963 | 19,46,050 |
| Fixed Assets | 2,447 | 3,358 | 3,518 | 3,697 | 3,842 | 3,912 | 4,501 | 4,753 | 5,000 | 5,860 | 6,661 | 6,776 |
| CWIP | 105 | 216 | 292 | 352 | 288 | 483 | 118 | 215 | 142 | 267 | 121 | 269 |
| Investments | 1,18,527 | 1,31,399 | 1,29,018 | 1,53,037 | 1,74,056 | 1,55,282 | 2,25,336 | 2,74,608 | 2,88,095 | 3,32,354 | 3,96,685 | 4,46,422 |
| Other Assets | 3,46,164 | 4,11,414 | 4,78,633 | 5,46,618 | 6,35,860 | 7,68,196 | 7,71,050 | 9,15,952 | 10,51,181 | 11,79,758 | 12,53,496 | 14,92,583 |
| Total Assets | 4,67,243 | 5,46,387 | 6,11,462 | 7,03,703 | 8,14,046 | 9,27,872 | 10,01,005 | 11,95,529 | 13,44,418 | 15,18,239 | 16,56,963 | 19,46,050 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -15,162 | -34,495 | 32,209 | -38,390 | 37,125 | 30,416 | 12,633 | 28,137 | 22,075 | -5,555 | 44,384 | -8,637 |
| Investing | -7,972 | 9,211 | -12,458 | -10,007 | -18,674 | -9,485 | -54,288 | -27,112 | -32,351 | -9,001 | -51,178 | -45,068 |
| Financing | 31,045 | 22,495 | -2,487 | 41,342 | 5,643 | 8,865 | 7,279 | 47,894 | 6,641 | 22,341 | -7,000 | 60,358 |
| Net Cash Flow | 7,910 | -2,789 | 17,263 | -7,055 | 24,094 | 29,795 | -34,375 | 48,919 | -3,636 | 7,785 | -13,794 | 6,653 |
| Free Cash Flow | -15,691 | -35,970 | 31,441 | -39,233 | 36,300 | 29,339 | 11,708 | 26,736 | 20,697 | -7,931 | 41,951 | -10,797 |
| CFO/OP | -63 | -109 | 180 | -208 | 144 | 121 | 46 | 87 | 51 | 2 | 65 | -2 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 18% | 17% | 7% | 1% | 8% | 2% | 8% | 13% | 9% | 18% | 16% | 13% |
Documents
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Company Information
Incorporated in December 1993, Axis Bank Limited is a private sector bank.It has the third-largest network of branches among private sector banks and an international presence through branches in DIFC (Dubai) and Singapore along with representative offices in Abu Dhabi, Sharjah, Dhaka and Dubai and an offshore banking unit in GIFT City.[1]