Karur Vysya Bank
Karur Vysya Bank
Financial ServicesKey Fundamentals
SmallcapPrivate BankBanksPrice-based figures as of 9 Oct 2026, 3:54 pm IST · EPS basis: Standalone · TTM
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has delivered good profit growth of 47.2% CAGR over last 5 years
Weaknesses
4- Company has low interest coverage ratio.
- Promoter holding is low: 2.07%
- Contingent liabilities of Rs.14,661 Cr.
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-01 close, Karur Vysya Bank traded at Rs 325.3, giving it a market cap of Rs 31,442.24 Cr, a TTM P/E of 11.45 on EPS of Rs 28.4 and a P/B of 2.23. Return ratios have improved: ROE is 17.79%, against a 10-year average of 12%. TTM profit grew 37% while sales grew 16%, and the stock has risen 56% in a year. Points to weigh include promoter holding of 2.07%, contingent liabilities of Rs 14,661 Cr and slower revenue growth than the 3-year trend.
- Profit has grown fast over several periods: 47% CAGR over 5 years, 31% over 3 years and 37% on a TTM basis. That compares with 16% over 10 years.
- ROE has risen steadily, from a 10-year average of 12% to 16% over 5 years, 18% over 3 years and 19% last year. Current ROE is 17.79%.
- Even after the rally, the TTM P/E is 11.45 on EPS of Rs 28.4. Profit grew 37% over the same TTM period.
- Revenue growth has picked up. Sales compounded at 19% over 3 years and 15% over 5 years, compared with 7% over 10 years, and TTM growth is 16%.
- A P/B of 2.23 alongside ROE of 17.79% works out to an earnings yield on book of about 8%. The P/B multiple is supported by the higher return profile.
- The stock's long-term returns are 52% CAGR over 5 years and 43% over 3 years. These largely track profit growth of 47% and 31% over the same periods.
- At Rs 325.3, the stock is about 9% below its 52-week high of Rs 358.65. It has held most of its gain from the 52-week low of Rs 209.51.
- Promoter holding is 2.07%. With no strong promoter anchor, governance and strategy depend on the board and institutional shareholders.
- Contingent liabilities are Rs 14,661 Cr, about 47% of the Rs 31,442.24 Cr market cap. These are off-balance-sheet exposures that could crystallise.
- Revenue growth is slowing. TTM sales growth of 16% is below the 3-year CAGR of 19%, so profit growth will rely more on margins and credit costs than on balance-sheet expansion.
- TTM profit growth of 37% is more than twice TTM sales growth of 16%. This points to operating leverage or lower provisions, which may not last if credit costs normalise.
- The stock has outpaced earnings. It is up 56% in a year against 37% TTM profit growth, so the valuation has expanded to a P/B of 2.23. It is now 55% above its 52-week low of Rs 209.51.
- The dividend yield is 0.8%, which gives investors little income cushion at current prices.
- Screens flag low interest coverage, possible interest capitalisation and ROCE of 6.92%. These are structurally low for any bank because interest is its main operating cost, so the flags carry limited weight on their own.
- The 10-year record is more modest: sales grew at 7% CAGR, profit at 16% and the stock at 17%. The recent strong run follows a weaker earlier period, which raises questions about how cyclical the improvement is.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- UFBU three-day strike risk Sep 24
Bank unions called a three-day strike from September 28 to 30, 2026, which could disrupt branch operations. It would also hit the last days of the Q2FY27 quarter.
- Deposit growth lags advances Oct 1
Deposits rose 15.96% YoY to ₹1,28,123 crore while advances grew 20.34% YoY to ₹1,11,587 crore. That puts the credit-deposit ratio near 87% and could squeeze funding and liquidity.
- MCLR hike signals costlier funds Sep 19
Overnight MCLR rose to 9.05% and the Base Rate to 11.20% from September 22, 2026. The hike may reflect rising funding costs and could slow borrower demand.
- Strong Q2FY27 business growth Oct 1
Total business grew 17.96% YoY to ₹2,39,710 crore and advances grew 20.34% YoY to ₹1,11,587 crore. That is healthy loan growth for a mid-sized private bank.
- CASA growth steady at 15% Oct 1
CASA balances rose 15.41% YoY to ₹35,265 crore, about 27.5% of total deposits. Low-cost deposits are growing roughly in line with total deposits.
- Lending rate hike supports yields Sep 19
Repricing loans effective September 22, 2026, with BPLR at 16.20%, could protect net interest margins as the cost of deposits rises.
- Branch expansion in Tamil Nadu Sep 19
Two new branches in Coimbatore and Labbaikudikadu were opened on September 23, 2026, as part of the bank's network expansion drive.
- Q2FY27 analyst call Oct 15 Oct 5
An investor and analyst conference call is set for October 15, 2026, at 6:00 pm IST, after the board meeting that approves Q2FY27 results.
- Management at Nuvama CEO Forum Sep 28
MD B Ramesh Babu and CFO G V Ramaswamy met investors at the Nuvama Emerging India CEO Forum on September 28, 2026.
TL;DR: Karur Vysya Bank's Q2FY27 business update was strong: advances grew 20.34% YoY and total business grew 17.96% to ₹2,39,710 crore, with CASA keeping pace at 15.41%. The main risk is deposits growing slower than loans (15.96% vs 20.34%), which tightens the CD ratio and may raise funding costs. The September MCLR hike suggests the bank is repricing loans to defend margins, and the effect of the late-September strike on operations is still unclear. Overall the trend is improving, and the October 15 results call is the next check on margins, asset quality and how the bank plans to fund deposits.
Quarterly Results
| Particulars | 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 | 1,883 | 1,997 | 2,139 | 2,187 | 2,285 | 2,387 | 2,489 | 2,516 | 2,569 | 2,808 | 2,794 | 2,904 | 3,049 |
| Expenses | 741 | 743 | 833 | 1,051 | 800 | 896 | 878 | 925 | 839 | 1,030 | 848 | 985 | 859 |
| Financing Profit | 156 | 173 | 168 | -53 | 225 | 167 | 203 | 164 | 240 | 231 | 392 | 373 | 564 |
| Fin. Margin % | 8% | 9% | 8% | -2% | 10% | 7% | 8% | 7% | 9% | 8% | 14% | 13% | 18% |
| Other Income | 333 | 339 | 358 | 626 | 388 | 469 | 465 | 509 | 447 | 512 | 509 | 616 | 442 |
| Interest | 986 | 1,082 | 1,138 | 1,189 | 1,260 | 1,324 | 1,407 | 1,427 | 1,489 | 1,547 | 1,555 | 1,545 | 1,627 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 489 | 512 | 526 | 574 | 613 | 636 | 668 | 674 | 687 | 743 | 901 | 989 | 1,005 |
| Tax % | 27% | 26% | 22% | 20% | 25% | 26% | 26% | 24% | 24% | 23% | 23% | 27% | 25% |
| Net Profit | 359 | 378 | 412 | 456 | 459 | 474 | 496 | 513 | 521 | 574 | 690 | 725 | 756 |
| EPS in Rs | 3.72 | 3.93 | 4.27 | 4.73 | 4.75 | 4.9 | 5.14 | 5.31 | 5.4 | 5.94 | 7.14 | 7.5 | 7.82 |
| Gross NPA % | 1.99% | 1.73% | 1.58% | 1.4% | 1.32% | 1.1% | 0.83% | 0.76% | 0.66% | 0.76% | 0.71% | 0.75% | 0.74% |
| Net NPA % | 0.59% | 0.47% | 0.42% | 0.4% | 0.38% | 0.28% | 0.2% | 0.2% | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
Profit & Loss
| Particulars | 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 | 5,396 | 5,443 | 5,622 | 5,700 | 5,816 | 5,990 | 5,470 | 5,588 | 6,517 | 8,213 | 9,678 | 11,074 | 11,555 |
| Expenses | 1,503 | 1,494 | 1,887 | 2,609 | 2,902 | 3,112 | 2,620 | 2,434 | 2,965 | 3,267 | 3,385 | 3,576 | 3,723 |
| Financing Profit | -37 | 288 | 187 | -311 | -539 | -764 | -260 | 281 | 384 | 551 | 875 | 1,363 | 1,559 |
| Fin. Margin % | -1% | 5% | 3% | -5% | -9% | -13% | -5% | 5% | 6% | 7% | 9% | 12% | 13% |
| Other Income | 590 | 707 | 782 | 900 | 963 | 1,155 | 919 | 769 | 1,159 | 1,649 | 1,830 | 2,084 | 2,079 |
| Interest | 3,930 | 3,662 | 3,549 | 3,402 | 3,453 | 3,642 | 3,111 | 2,872 | 3,168 | 4,395 | 5,418 | 6,136 | 6,273 |
| Depreciation | 81 | 83 | 86 | 85 | 101 | 119 | 124 | 119 | 106 | 100 | 114 | 127 | 0 |
| PBT | 471 | 912 | 883 | 504 | 322 | 272 | 534 | 931 | 1,437 | 2,100 | 2,591 | 3,320 | 3,638 |
| Tax % | 2% | 38% | 31% | 31% | 35% | 14% | 33% | 28% | 23% | 24% | 25% | 24% | — |
| Net Profit | 464 | 568 | 606 | 346 | 211 | 235 | 359 | 673 | 1,106 | 1,605 | 1,942 | 2,510 | 2,745 |
| EPS in Rs | 4.95 | 6.05 | 6.46 | 3.6 | 2.2 | 2.45 | 3.75 | 7.01 | 11.49 | 16.63 | 20.1 | 25.97 | 28.4 |
| Div. Payout % | 34% | 30% | 26% | 13% | 23% | 0% | 11% | 19% | 14% | 12% | 11% | 10% | — |
Balance Sheet
| Particulars | 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 | 122 | 122 | 122 | 145 | 160 | 160 | 160 | 160 | 160 | 161 | 161 | 193 |
| Reserves | 4,124 | 4,451 | 4,914 | 6,119 | 6,263 | 6,440 | 6,800 | 7,436 | 8,424 | 9,879 | 11,769 | 13,915 |
| Borrowing | 2,751 | 2,894 | 1,696 | 2,394 | 1,565 | 1,184 | 2,528 | 1,339 | 1,432 | 2,478 | 1,217 | 2,623 |
| Deposits | 44,840 | 50,079 | 53,700 | 56,890 | 59,868 | 59,075 | 63,278 | 68,486 | 76,638 | 89,113 | 1,02,078 | 1,15,666 |
| Other Liabilities | 1,315 | 1,439 | 1,376 | 1,393 | 1,484 | 1,419 | 1,857 | 2,650 | 3,526 | 3,822 | 4,143 | 4,207 |
| Total Liabilities | 53,152 | 58,985 | 61,808 | 66,941 | 69,340 | 68,278 | 74,623 | 80,071 | 90,179 | 1,05,453 | 1,19,367 | 1,36,603 |
| Fixed Assets | 395 | 417 | 411 | 475 | 545 | 563 | 518 | 464 | 418 | 412 | 451 | 455 |
| CWIP | 17 | 4 | 8 | 53 | 38 | 23 | 21 | 15 | 17 | 20 | 39 | 47 |
| Investments | 12,375 | 14,443 | 14,857 | 15,803 | 14,882 | 15,762 | 16,019 | 17,216 | 18,808 | 22,344 | 23,831 | 29,020 |
| Other Assets | 40,366 | 44,122 | 46,532 | 50,610 | 53,876 | 51,929 | 58,065 | 62,377 | 70,936 | 82,677 | 95,046 | 1,07,082 |
| Total Assets | 53,152 | 58,985 | 61,808 | 66,941 | 69,340 | 68,278 | 74,623 | 80,071 | 90,179 | 1,05,453 | 1,19,367 | 1,36,603 |
Cash Flow
| Particulars | 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 | -309 | 580 | 1,611 | -550 | -1,576 | 2,504 | 3,366 | 295 | 1,217 | 2,954 | 4,487 | -554 |
| Investing | -102 | -92 | -84 | -170 | 549 | -1,535 | -1,379 | -1,594 | -1,270 | -1,296 | -2,151 | -1,745 |
| Financing | 482 | -346 | -74 | 683 | 414 | -274 | -59 | -96 | -178 | -694 | -188 | -205 |
| Net Cash Flow | 71 | 143 | 1,453 | -36 | -612 | 696 | 1,928 | -1,394 | -231 | 963 | 2,148 | -2,504 |
| Free Cash Flow | -411 | 488 | 1,527 | -744 | -1,730 | 2,369 | 3,289 | 238 | 1,156 | 2,864 | 4,319 | -683 |
| CFO/OP | -5 | 19 | 49 | -11 | -47 | 91 | 123 | -1 | 28 | 69 | 79 | 2 |
Ratios
| Particulars | 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 % | 12% | 13% | 13% | 6% | 3% | 4% | 5% | 9% | 14% | 17% | 18% | 19% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Frequently Asked Questions about Karur Vysya Bank
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Company Information
Karur Vysya Bank is engaged in providing a wide range of banking and financial services including commercial banking and treasury operations.[1]
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