Karur Vysya Bank Ltd
Karur Vysya Bank Ltd
BanksKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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56 extracted metrics + investor summaries across FY15–FY26.
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Technical Indicators
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
Karur Vysya Bank is a mid-cap private sector bank with a market cap of Rs 32,668 Cr trading at a PE of 11.7x and PB of 2.27x. The bank has delivered 47% profit CAGR over 5 years with ROE improving to 19% in the last year, while asset quality has improved sharply with GNPA falling to 0.74% and NNPA to 0.19% as of recent quarters, though promoter holding remains extremely low at 2.07%.
- Exceptional profit growth with 47% CAGR over 5 years and 37% TTM growth, demonstrating sustained earnings momentum
- ROE has improved from 12% (10-year average) to 19% last year, with recent quarters showing ROA of 2.11% and ROE of 20.24%, indicating superior capital efficiency
- Asset quality at industry-best levels with GNPA at 0.74% and NNPA at 0.19%, down sharply from GNPA of 2.27% in March 2023
- Valuation remains undemanding at PE of 11.7x despite delivering 31% compounded profit growth over 3 years
- Advances grew 17% YoY to Rs 98,754 Cr in FY26 from Rs 84,491 Cr in FY25, with deposits growing 13% to Rs 1,15,666 Cr
- Operating profit surged 27% YoY to Rs 4,075 Cr in FY26 from Rs 3,212 Cr in FY25, reflecting improving operating leverage
- Net profit jumped to Rs 2,510 Cr in FY26 from Rs 1,942 Cr in FY25, a 29% increase demonstrating consistent bottom-line delivery
- Stock has delivered 49% CAGR over 3 years and 57% CAGR over 5 years, reflecting strong re-rating driven by fundamental improvement
- Promoter holding is extremely low at 2.07%, raising governance concerns and making the bank vulnerable to hostile actions or lack of strategic direction
- CASA ratio has been declining from 30.39% in March 2024 to 27.27% in March 2025 and 26.91% in March 2026, which could pressure margins as deposit costs rise
- Contingent liabilities stand at Rs 14,661 Cr, which is a material exposure relative to the bank's balance sheet and could crystallize under stress
- Low interest coverage ratio suggests vulnerability to margin compression in a falling rate environment
- Dividend yield is modest at 0.79%, offering limited income return despite strong profitability
- Compounded sales growth of only 7% over 10 years indicates historically tepid revenue expansion before the recent acceleration
- Potential capitalization of interest costs raises questions about the true quality of reported earnings and asset valuations
- PB ratio of 2.27x is elevated for a bank with only 2.07% promoter stake and no clear long-term strategic anchor investor
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Investor meets in Asia Aug 6
Karur Vysya Bank will conduct institutional investor and analyst meetings in Hong Kong and Singapore from August 12-14, 2026, as part of the Avendus Spark conference.
TL;DR: Limited recent news flow for Karur Vysya Bank. The bank is actively engaging international institutional investors through upcoming Asia meetings, signaling continued interest in broadening its investor base. No negative or positive catalysts evident from current coverage.
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 | 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
| 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
| 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
| 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
| 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% |
Documents
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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]