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Stock Analysis

Description

Karnataka Bank is engaged in providing a wide range of banking & financial services involving retail, corporate banking and para-banking activities in addition to treasury and foreign exchange business.

Key Growth Triggers

Continued focus on digitalization initiatives, including the Digital Centre of Excellence (DCoE).
Strategic emphasis on growth in Retail, Agri, and MSME (RAM) segments.
Optimization of funding costs and efforts to enhance Net Interest Margins (NIMs).

Order Book

Currently no data available for Order Book.

Key Red Flags

Year-on-year decline in net profit for Q2 FY26 (-5.04%) and H1 FY26 (-16.95%).
Contraction in Net Interest Margins (NIMs) QoQ to 2.72%.
Significant increase in provisions impacting profitability.
Contingent liabilities of ₹13,211 Cr.

Key Dates To Watch

The 101st Annual General Meeting (AGM) was held on September 23, 2025.
The Board meeting to consider Q2 FY26 results was scheduled for November 8, 2025.

Corporate Announcements

8th Apr 26

Impact Rating: 3

Karnataka Bank Ltd. filed a SEBI compliance certificate for the quarter ended March 31, 2026. The report from its Registrar confirms adherence to regulations for processing dematerialized securities and updating shareholder records.

8th Apr 26

Impact Rating: 7

Karnataka Bank announced the issuance of ₹300 crore debt securities under SEBI regulations via private placement, carrying a 10.70% annual interest rate and maturity in 2032.

8th Apr 26

Impact Rating: 4

Karnataka Bank has filed its annual disclosure for Non-Convertible Debt Securities (NCDs) as required by SEBI. The report covers a ₹300 crore issue, detailing interest payments made and credit ratings, which show stable outlooks from agencies like ICRA and CareEdge.

8th Apr 26

Impact Rating: 3

Karnataka Bank, a Scheduled Commercial Bank, has declared its exemption from SEBI's 'Large Corporate' reporting requirements under the circular dated April 13, 2022. Thus, no initial or annual disclosures are needed for FY26.

8th Apr 26

Impact Rating: 4

Karnataka Bank Ltd. confirms Mr. Sham K as Company Secretary and Compliance Officer (since Feb 27, 2023) and M/s. Integrated Registry Management Services Private Limited as Registrar, under SEBI LODR norms.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	HDFC Bank	949.05	20.17	1459769.88	1.16	20363.77	10.01	86993.84	4.81	7.51	346185.22	42.61	72360.07	19610.67	2.70	1.74	6.30
2.	ICICI Bank	1427.70	19.16	1021249.89	0.77	14318.15	3.16	48180.91	4.00	7.87	192684.91	28.30	53300.25	13357.06	3.06	2.18	5.58
3.	Kotak Mah. Bank	2144.00	22.96	426413.07	0.12	4468.27	-11.42	17198.74	4.70	8.17	67852.12	27.80	18574.23	4468.27	2.54	2.68	3.62
4.	Axis Bank	1295.50	15.48	402325.50	0.08	5566.56	-25.31	32309.77	2.24	7.11	129272.60	59.67	25988.99	5527.85	2.03	1.78	7.28
5.	IDBI Bank	108.12	12.52	116276.46	1.94	3240.77	73.56	7109.01	-4.51	6.78	28937.85	70.49	9284.32	3229.58	1.71	1.97	4.81
6.	Yes Bank	23.50	25.99	73740.58	0.00	664.31	17.25	7388.75	-4.50	6.36	30449.57	59.65	2836.87	664.31	1.50	0.59	7.29
7.	IDFC First Bank	84.40	50.50	72564.74	0.30	347.80	64.10	9936.93	10.94	6.22	38335.01	32.47	1437.04	347.80	1.34	0.46	6.85
8.	Karnataka Bank	199.54	6.57	7537.18	2.51	319.12	-5.04	2179.18	-2.46	6.33	8941.94	66.34	1147.49	319.12	0.60	1.07	8.27
–	Median: 20 Co.	264.33	15.48	24943.79	0.71	349.59	3.95	4430.65	4.35	6.95	17851.24	59.66	1397.21	349.59	1.42	1.35	7.29

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	672	758	736	689	664	757	823	938	865	471	670	674	652
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	205	326	292	324	279	358	395	419	428	260	250	270	343
Profit before tax	367	396	349	450	518	356	432	315	344	592	402	429	420
Tax %	18%	16%	19%	18%	23%	18%	18%	13%	27%	30%	18%	22%	24%
Net Profit	301	331	284	371	400	292	354	274	252	412	330	336	319
EPS in Rs	9.64	9.55	7.50	11.87	10.61	7.74	11.33	7.27	6.68	13.22	10.56	8.90	8.44

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	1,127	1,131	1,275	1,782	2,452	2,245	2,706	2,902	2,677	2,650	2,983	2,854	3,010
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	506	507	543	809	954	1,002	1,262	1,404	954	993	1,319	1,270	1,422
Interest	3,133	3,530	3,689	3,695	3,566	4,001	4,444	4,049	3,731	4,035	5,000	5,703	5,885
Depreciation	26	-14	42	50	50	54	64	74	74	86	72	85	0
Profit before tax	409	559	528	468	310	608	522	612	695	1,441	1,563	1,641	1,470
Net Profit	311	451	415	452	326	477	432	483	509	1,180	1,306	1,272	1,147
EPS in Rs	10.01	14.52	13.35	14.55	10.47	15.35	13.89	15.52	16.35	37.79	34.63	33.67	30.36
Dividend Payout %	24%	21%	23%	25%	26%	21%	0%	12%	24%	13%	16%	15%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	188	188	188	283	283	283	311	311	311	312	377	378	378
Reserves	2,864	3,201	3,502	4,860	5,128	5,503	5,660	6,331	6,784	7,901	10,471	11,707	12,211
Borrowings	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Liabilities	1,479	1,401	1,270	1,330	1,276	1,483	1,493	1,553	1,789	1,914	2,848	2,128	1,971
Total Liabilities	47,029	51,837	56,500	64,039	70,374	79,046	83,313	85,615	91,584	99,058	116,085	120,962	118,686
Fixed Assets	197	292	307	721	762	775	826	838	805	846	915	976	1,069
Gross Block	418.92	495.18	548.77	1,006.72	1,096.79	1,160.24	1,260.31	1,335.60	1,369.13	1,456.06	1,578.34	1,696.84	–
Accumulated Depreciation	221.44	203.33	242.14	286.15	335.18	385.24	433.89	497.75	564.13	609.99	663.71	720.67	–
CWIP	0	0	0	0	0	0	0	1	13	29	13	14	0
Investments	15,227	14,032	16,257	20,220	15,444	16,185	17,545	21,635	22,041	23,326	24,302	24,537	26,599
Other Assets	31,605	37,513	39,937	43,098	54,168	62,086	64,942	63,142	68,725	74,857	90,855	95,435	91,018
Total Assets	47,029	51,837	56,500	64,039	70,374	79,046	83,313	85,615	91,584	99,058	116,085	120,962	118,686

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	404	648	636	-184	721	-2,231	-90	3,369	-467	1,830	681	210
Cash from Investing Activity	-54	-80	-58	-40	-91	-68	-56	-87	-56	-87	-369	-691
Cash from Financing Activity	34	-291	-147	453	-303	2,307	-545	-885	-355	-20	1,582	412
Net Cash Flow	384	277	431	229	327	9	-690	2,396	-879	1,723	1,894	-69

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	–	–	–	–	–	–	–	–	–	–	–	–
Inventory Days	–	–	–	–	–	–	–	–	–	–	–	–
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	–	–	–	–	–	–	–	–	–	–	–	–
Working Capital Days	–	–	–	–	–	–	–	–	–	–	–	–
ROCE %	–	–	–	–	–	–	–	–	–	–	–	–

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	–	–	–	–	–	–	–	–	–	–	–	–
FIIs	19.75%	20.30%	21.03%	22.67%	19.03%	18.86%	14.72%	10.29%	11.22%	12.88%	15.66%	14.60%
DIIs	5.43%	5.74%	6.00%	8.60%	17.69%	23.06%	22.85%	22.05%	20.23%	18.16%	17.01%	16.11%
Public	74.80%	73.95%	72.95%	68.71%	63.26%	58.08%	62.43%	67.67%	68.55%	68.97%	67.33%	69.27%