Jammu and Kashmir Bank Ltd
Jammu and Kashmir Bank Ltd
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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59 extracted metrics + investor summaries across FY15–FY26.
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Technical Indicators
Key Insights
Strengths
2- Stock is trading at 1.03 times its book value
- Company has delivered good profit growth of 40.7% CAGR over last 5 years
Weaknesses
5- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.2% over past five years.
- Contingent liabilities of Rs.7,081 Cr.
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -4.01%
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoJammu & Kashmir Bank trades at a PE of 7.5x and 1.1x book value with a market cap of Rs.17,459 Cr. The bank has delivered strong profit CAGR of 41% over 5 years but revenue growth remains modest at 10% over the same period, while contingent liabilities stand at Rs.7,081 Cr.
- Compounded profit growth of 41% CAGR over 5 years indicates a strong earnings recovery trajectory
- PE ratio of 7.5x is significantly below the banking sector average, suggesting undemanding valuations
- Price-to-book of 1.1x is attractive for a bank delivering 3-year average ROE of 16%
- Stock CAGR of 53% over 1 year and 32% over 3 years reflects strong price momentum and re-rating
- ROE improved from 7% (10-year average) to 15% last year, showing sustained profitability improvement
- Dividend yield of 1.36% provides income while trading near book value
- 3-year compounded profit growth of 26% outpaces 3-year sales growth of 12%, indicating improving operating leverage and cost efficiency
- Sales growth of only 10% CAGR over 5 years and 5% TTM suggests slowing top-line momentum
- Contingent liabilities of Rs.7,081 Cr represent a material risk relative to the Rs.17,459 Cr market cap
- Promoter holding has decreased by 4.01% over the last 3 years, signaling potential dilution or reduced promoter confidence
- Low interest coverage ratio raises concerns about the bank's ability to service obligations under stress scenarios
- Company might be capitalizing interest costs, which could overstate reported profitability
- 10-year stock CAGR of only 9% despite recent surge suggests prolonged periods of underperformance historically
- TTM profit growth has decelerated to 7% from 26% three-year CAGR, indicating potential earnings growth plateau
- Geographic concentration in Jammu & Kashmir exposes the bank to region-specific economic and geopolitical risks
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago- Q1 profit falls 12.5% YoY Jul 30
Q1FY26 standalone net profit declined 12.5% YoY to ₹424.18 crore due to rising tax and operating costs. Consolidated PAT also fell 11.7% to ₹428.80 crore.
- Asset quality improves, GNPA drops Jul 30
GNPA improved to 2.37% and total business crossed ₹3 trillion mark, with total income rising 6.9% YoY despite profit pressure.
- Two directors appointed, 98% approval Jul 13
J&K Bank appointed Mr. Ashish Kundra and Mr. Pravin Raghavendra as directors through e-voting with over 98% shareholder approval.
- Stake sale in PNB MetLife Jul 14
Bank proposes to divest 0.50% stake in PNB MetLife India Insurance for ₹120.10 crore, unlocking value from non-core holdings.
- Board considers Tier I capital raise Aug 5
Board meets Aug 11, 2026 to consider raising Tier I capital, aimed at strengthening capital base and regulatory compliance.
- MD to speak at investor meet Aug 5
MD & CEO will participate in Emkay Global's Annual Investor Conference on August 12, 2026 in Mumbai.
- Q1FY27 earnings call scheduled Jul 22
Conference call scheduled for July 29, 2026 with MD & CEO Amitava Chatterjee to discuss Q1FY27 results.
- New CVO appointed for 3 years Jul 15
Mr. Bansi Lal Saini appointed as Chief Vigilance Officer effective July 15, 2026 for a three-year term.
TL;DR: J&K Bank faces near-term earnings pressure with Q1 profit declining 12.5% on higher tax and operating costs, but underlying fundamentals show improvement with GNPA dropping to 2.37% and business crossing ₹3 trillion. The board's move to raise Tier I capital signals proactive balance sheet strengthening. The trend is mixed — profitability is under pressure but asset quality and scale are improving, and capital-raising plans should support future growth.
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 | 2,657 | 2,764 | 2,881 | 2,910 | 2,994 | 3,124 | 3,210 | 3,213 | 3,269 | 3,293 | 3,315 | 3,273 | 3,547 |
| Expenses | 1,062 | 982 | 906 | 705 | 954 | 980 | 996 | 1,075 | 1,061 | 958 | 964 | 889 | 1,095 |
| Financing Profit | 221 | 352 | 375 | 602 | 415 | 456 | 516 | 406 | 406 | 477 | 527 | 600 | 403 |
| Fin. Margin % | 8% | 13% | 13% | 21% | 14% | 15% | 16% | 13% | 12% | 14% | 16% | 18% | 11% |
| Other Income | 230 | 193 | 186 | 229 | 198 | 301 | 242 | 403 | 253 | 157 | 280 | 262 | 217 |
| Interest | 1,374 | 1,430 | 1,600 | 1,604 | 1,625 | 1,687 | 1,697 | 1,732 | 1,803 | 1,858 | 1,824 | 1,784 | 2,049 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 452 | 545 | 561 | 830 | 614 | 757 | 758 | 810 | 659 | 635 | 807 | 862 | 621 |
| Tax % | 28% | 30% | 25% | 23% | 32% | 27% | 30% | 28% | 26% | 22% | 27% | 7% | 31% |
| Net Profit | 331 | 384 | 423 | 633 | 418 | 553 | 529 | 582 | 485 | 495 | 581 | 799 | 429 |
| EPS in Rs | 3.21 | 3.72 | 3.84 | 5.75 | 3.8 | 5.02 | 4.8 | 5.28 | 4.4 | 4.49 | 5.28 | 7.25 | 3.89 |
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 | 7,061 | 6,844 | 6,686 | 6,621 | 7,676 | 8,446 | 8,111 | 8,013 | 9,355 | 11,213 | 12,541 | 13,151 | 13,429 |
| Expenses | 2,336 | 2,466 | 4,431 | 3,154 | 3,439 | 5,234 | 3,802 | 3,774 | 3,567 | 3,437 | 3,840 | 3,869 | 3,907 |
| Financing Profit | 316 | 245 | -1,919 | -283 | -55 | -1,527 | -30 | 137 | 1,178 | 1,768 | 1,960 | 2,013 | 2,007 |
| Fin. Margin % | 4% | 4% | -29% | -4% | -1% | -18% | 0% | 2% | 13% | 16% | 16% | 15% | 15% |
| Other Income | 599 | 509 | 497 | 501 | 817 | 509 | 701 | 753 | 765 | 838 | 1,147 | 951 | 918 |
| Interest | 4,409 | 4,132 | 4,173 | 3,750 | 4,291 | 4,739 | 4,340 | 4,101 | 4,609 | 6,008 | 6,741 | 7,269 | 7,515 |
| Depreciation | 95 | 64 | 85 | 97 | 104 | 126 | 134 | 144 | 158 | 218 | 168 | 0 | 0 |
| PBT | 820 | 689 | -1,507 | 121 | 659 | -1,144 | 537 | 747 | 1,786 | 2,388 | 2,939 | 2,964 | 2,925 |
| Tax % | 38% | 40% | 8% | -68% | 30% | 3% | 19% | 32% | 33% | 26% | 29% | 20% | — |
| Net Profit | 508 | 414 | -1,633 | 203 | 464 | -1,183 | 428 | 495 | 1,181 | 1,771 | 2,082 | 2,360 | 2,304 |
| EPS in Rs | 10.49 | 8.54 | -31.32 | 3.64 | 8.33 | -16.59 | 6.01 | 5.3 | 11.44 | 16.08 | 18.91 | 21.43 | 20.91 |
| Div. Payout % | 20% | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 4% | 13% | 11% | 0% | — |
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 | 48 | 48 | 52 | 56 | 56 | 71 | 71 | 93 | 103 | 110 | 110 | 110 |
| Reserves | 6,060 | 6,372 | 5,621 | 6,102 | 6,566 | 6,274 | 6,731 | 7,984 | 9,793 | 12,083 | 14,098 | 16,390 |
| Borrowing | 1,740 | 2,240 | 1,276 | 1,628 | 2,624 | 2,020 | 2,015 | 2,371 | 2,892 | 2,885 | 2,383 | 3,431 |
| Deposits | 66,336 | 69,379 | 72,459 | 80,005 | 89,637 | 97,786 | 1,08,047 | 1,14,703 | 1,22,027 | 1,34,765 | 1,48,552 | 1,65,342 |
| Other Liabilities | 1,726 | 2,214 | 2,604 | 1,894 | 2,522 | 2,678 | 3,408 | 5,425 | 11,097 | 4,662 | 4,280 | 3,687 |
| Total Liabilities | 75,910 | 80,254 | 82,012 | 89,684 | 1,01,405 | 1,08,829 | 1,20,273 | 1,30,576 | 1,45,913 | 1,54,505 | 1,69,424 | 1,88,960 |
| Fixed Assets | 655 | 706 | 1,479 | 1,598 | 1,646 | 2,036 | 1,971 | 1,908 | 2,224 | 2,208 | 2,126 | 2,533 |
| CWIP | 34 | 59 | 64 | 17 | 29 | 35 | 41 | 46 | 47 | 50 | 66 | 0 |
| Investments | 22,740 | 20,334 | 21,271 | 18,860 | 23,140 | 22,990 | 30,774 | 33,785 | 34,780 | 34,900 | 41,122 | 40,520 |
| Other Assets | 52,481 | 59,156 | 59,198 | 69,210 | 76,589 | 83,768 | 87,486 | 94,837 | 1,08,860 | 1,17,347 | 1,26,110 | 1,45,906 |
| Total Assets | 75,910 | 80,254 | 82,012 | 89,684 | 1,01,405 | 1,08,829 | 1,20,273 | 1,30,576 | 1,45,913 | 1,54,505 | 1,69,424 | 1,88,960 |
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 | 118 | -219 | 2,457 | 2,363 | -2,992 | 4,374 | -14 | -1,568 | -407 | -853 | 2,723 | -1,126 |
| Investing | -261 | -136 | -861 | -164 | -165 | -115 | -76 | -85 | -124 | -257 | -102 | -302 |
| Financing | -338 | -176 | 593 | 668 | 769 | -339 | -199 | 941 | 638 | 407 | -1,034 | -500 |
| Net Cash Flow | -480 | -531 | 2,189 | 2,867 | -2,388 | 3,920 | -289 | -712 | 107 | -702 | 1,587 | -1,928 |
| Free Cash Flow | -131 | -355 | 1,596 | 2,199 | -3,156 | 4,259 | -90 | -1,653 | -531 | -1,038 | 2,621 | -1,595 |
| CFO/OP | 10 | 4 | 112 | 73 | -70 | 140 | 2 | -31 | 1 | -5 | 40 | -4 |
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 % | 9% | 7% | -27% | 3% | 7% | -18% | 7% | 7% | 13% | 16% | 16% | 15% |
Documents
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Company Information
Jammu & Kashmir Bank (J&K Bank), incorporated in Jammu & Kashmir, India, is a publicly held banking company engaged in providing a wide range of banking services including Retail Banking, Corporate Banking & Treasury Operations.[1] It is the only Private Sector Bank in the country assigned with responsibility of convening State/UT Level Bankers’ Committee (SLBC/UTLBC) meetings. The Bank continued to discharge its lead bank responsibility satisfactorily in 12 districts of UT of J&K, i.e. Srinagar, Ganderbal, Budgam, Baramulla, Bandipora, Kupwara, Anantnag, Kulgam, Pulwama, Shopian, Poonch and Rajouri.[2]