Kotak Mahindra Bank share price & results

Kotak Mahindra Bank Limited· Financial Services

Results to: Sept 2026
Latest analysed call: Q2 FY27
Ownership as of: Sept 2026

Diversified private-sector bank and financial-services group with 2,148 branches serving 5.3 crore customers.

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Guidance Hit Rate

25 targets · 73% hit rate 11 achieved · 10 active →

Segment Shift

9 segments tracked See revenue & margin mix below →

Reverse DCF

Implied Growth Test priced-in growth in DCF tool →

Concall & Tone

Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹467 +1.65% · +₹7.6

Last close 5 Nov 2026 · NSE · INR · Source: Inve

Performance −77.7% 1Y

1Y: ₹2,096.6 on 4 Nov 2025 → ₹467. High ₹2,217.8 (1 Jan 2026), low ₹353.4 (30 Mar 2026).

Previous close: ₹459.4
Market cap: ₹4.6L Cr
52-week range: ₹353.4 – ₹2,217.8
One year: −77.73%
Price to earnings (TTM to Sept 2026): 21.75×
Return on equity (TTM to Sept 2026): 10.89%

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	15,948 ₹ crore	+16.8% YoY	Quarterly, as filed	Quarter to Sept 2026	Revenue from operations as filed.
Operating margin	Unavailable	—	Operating profit / revenue	Quarter to Sept 2026	Not in the filed figures for the quarter to sept 2026. No older figure is substituted.
Net profit	4,212 ₹ crore	+29.5% YoY	Quarterly, as filed	Quarter to Sept 2026	Profit after tax as filed.
Return on equity	10.89 %	−4.0 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Sept 2026	Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin	Unavailable	—	Fiscal year	FY ending Mar 2026	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	8.39 %	−10.5 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Sept 2026	Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Business Mix

Where revenue comes from

Asset Management grew from 2% to 3% of revenue over the last two years.

Retail Banking 26.2% · ₹8,341.25 Cr −3.6% YoY

Insurance 26.1% · ₹8,309.50 Cr +28.4% YoY

Corporate / Wholesale Banking 22.1% · ₹7,016.63 Cr +12.0% YoY

Treasury, BMU and Corporate Centre 11.5% · ₹3,657.11 Cr −1.4% YoY

Broking 4.3% · ₹1,357.39 Cr +24.5% YoY

Vehicle Financing 3.8% · ₹1,213.11 Cr +11.8% YoY

Explore full multi-period segment shift & margins →

Guidance

What management said, and what became of it

11 of 15 judged targets kept · 10 open · verdicts reflect calls analysed to Q2 FY27.

Target	Original wording	Said	Latest call	Verdict
Growth Provision Coverage Ratio (PCR)	75% Call transcript, Q1 FY25 · 20 Jul 2024	Q1 FY25	Q2 FY27:Provision Coverage Ratio remained above 78% in Q2 FY27, comfortably exceeding the 75% target. Call transcript, Q2 FY27 · 24 Oct 2026	Achieved
Growth Unsecured Retail Book Growth	Mid-teens Call transcript, Q1 FY25 · 20 Jul 2024	Q1 FY25	Q2 FY27:Unsecured retail share of advances stood at 8.1% (with PL/BL up 9% YoY and credit cards up 7% YoY). Management explicitly ruled out rushing growth ('We don't want to rush it... we do not want to try to do it very fast'), confirming the original mid-teens target remains abandoned. Call transcript, Q2 FY27 · 24 Oct 2026	Missed
Growth Return on Assets (ROA)	Above 2% Call transcript, Q3 FY25 · 18 Jan 2025	Q3 FY25	Q2 FY27:Standalone Bank RoA fell to 1.92% in Q2 FY27 from 2.14% in Q1 FY27, dipping below the 2% threshold due to the INR 55,344 crore FCNR(B) balance-sheet expansion ahead of full loan deployment. Call transcript, Q2 FY27 · 24 Oct 2026	At Risk

Source: Inve Guidance Tracker for Kotak Mahindra Bank Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Kotak Mahindra Bank Limited's 25 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 22 more targets are in the full ledger.

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Supply chain

Cross-company call evidence

Named counterparties and similar headwinds disclosed on earnings calls.

Products, transactions and disclosed impact

Company disclosures with supporting evidence. Actual results, management expectations, and summary paraphrases remain qualified by source basis.

Divestiture Stage: Closed / completed Call date: 2026-05-02
1. Proposed
2. Announced
3. Active
4. Completed / ended
Named counterparties & directional relationship

Kotak Mahindra Capital Company → divests interest in → Infina Finance Limited

Party roles: Seller of target / Transaction asset · Stage not stated

Counterparty named; listed-company identity not verified.

Products, services & business exposure Mentioned in this disclosure

30% stake in Infina Finance Limited · role: Transaction asset · category: Business asset / Equity interest

Disclosed financial & operational figures

Stake in Infina Finance Limited sold by Kotak Mahindra Capital Company: 30% · Stake transferred · Entity · During the Q4
Profit after tax resulting from the stake sale, in the Standalone book (owner of the book not stated): INR 1,094 crore · Disclosed operational measure · Scope not specified · During the Q4
PAT on this divestment at the consolidated level, after considering the carrying value of Infina in the consol books (owner of the books not stated): INR 185 crore · Disclosed operational measure · Scope not specified

Financial & operational impact

Standalone book (owner not stated): Net profit · Positive outcome Reported actual · Scope not specified · During the Q4

Condition: Profit after tax of INR 1,094 crore stated as resulting from the stake sale; this is the PAT attributed to the divestment, not a stated total period profit, and no pre-tax disposal gain is given
Consolidated books (owner not stated): Net profit · Positive outcome Reported actual · Scope not specified

Condition: PAT on this divestment of INR 185 crore after considering the carrying value of Infina in the consol books; not a stated total period profit, and no pre-tax disposal gain is given

Additional disclosure context

Rationale: In pursuance to compliance with the RBI regulatory directions issued in December '25
Associate status change: Post stake sale, Infina ceases to be an associate with effect from 24th March 2026
Prior relationship: Infina Finance Limited is described as an associate of Kotak Mahindra Capital Company, which held the 30% stake that was sold
Evidence and remaining questions (Contextual assertion review)
Call date: 2026-05-02 · Review status: Contextual assertion review · Policy: context-loop-v1

Summary paraphrase
Kotak Mahindra Capital Company sold its 30% stake in its associate Infina Finance Limited

Summary paraphrase
30% stake in Infina Finance Limited: sold its 30% stake in its associate Infina Finance Limited

Summary paraphrase
30%: 30% stake
Summary paraphrase
INR 1,094 crore: profit after tax of INR 1,094 crore in the Standalone book
Summary paraphrase
INR 185 crore: the PAT on this divestment is INR 185 crore after considering the carrying value of Infina in the consol books

Summary paraphrase
Net profit: resulting in profit after tax of INR 1,094 crore in the Standalone book
Summary paraphrase
Net profit: At the consolidated level, the PAT on this divestment is INR 185 crore after considering the carrying value of Infina in the consol books

Summary paraphrase
In pursuance to compliance with the RBI regulatory directions issued in December '25.
Summary paraphrase
Post stake sale, Infina ceases to be an associate with effect from 24th March 2026.
Summary paraphrase
sold its 30% stake in its associate Infina Finance Limited

Not established by the available evidence
- buyer: The buyer of the 30% stake is not named, so no DIVESTS_TO relation is emitted.
- consideration: The consideration object has null amount, unit and currency; the sale price or proceeds are not disclosed.
- seller-issuer link: The relationship of Kotak Mahindra Capital Company to the reporting issuer Kotak Mahindra Bank Limited is not stated in the record, so no subsidiary or parent link is asserted.
- affected party of PAT figures: The record does not say whose Standalone book or whose consol books the INR 1,094 crore and INR 185 crore figures belong to.
- disposal gain versus PAT: The figures are stated only as profit after tax resulting from / on the divestment; no pre-tax disposal gain figure is given, so they are recorded as OTHER_STATED_MEASURE rather than DISPOSAL_GAIN, and the impact metric NET_PROFIT is limited to the divestment-attributed PAT.
- period of consolidated PAT: The INR 185 crore consolidated PAT appears in a separate sentence with no stated period; 'During the Q4' is not attached to it.
- stake after: The record does not state whether the 30% stake was the seller's whole holding or what stake remains; it only states that Infina ceases to be an associate.
- sale date versus associate-cessation date: The sale is dated only as during Q4; 24th March 2026 is stated as the date Infina ceases to be an associate. The exact completion date of the sale is not given.
- content of RBI directions: The rationale cites RBI regulatory directions issued in December '25 but does not state what they require.
- event location: No location of the transaction or of Infina Finance Limited is stated.
- transcript context: No transcript passages were supplied (NO_MATCHING_PASSAGES), so all assertions rest on the summary record only.

Relationship Period Lifecycle

Counterparties named by Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited → acquires or invests in → Kotak Mahindra Investments Limited (KMIL) loan portfolio.

Q2 FY27 · Closed / completed · Positive · Counterparty named; listed-company identity not verified.
1. Proposed
2. Announced
3. Active
4. Completed / ended
Intra-group transfer of the loans, staff and servicing of KMIL, a wholly owned subsidiary, to the Bank. It was driven by an RBI form-of-business circular that bars the same business in multiple group entities. KMIL will stop operating, repay its liabilities, and its remaining capital will be dealt with over time.

Disclosed value: INR 9600 crores

“First week of July, KMIL's assets were transferred to the Bank. When KMIL's assets were transferred to the Bank, the funding of those assets would have come from the FCNR(B) deposits.”

Disclosure indicates an acquisition or investment without specifying full buyout versus minority stake.

Evidence drawer

Evidence type: Transcript excerpt

“First week of July, KMIL's assets were transferred to the Bank. When KMIL's assets were transferred to the Bank, the funding of those assets would have come from the FCNR(B) deposits.”

Source company: Kotak Mahindra Bank Limited · Counterparty: Kotak Mahindra Investments Limited (KMIL) loan portfolio · Call date: 2026-10-24 · Period: Q2 FY27 · Review status: Structured call extraction
Kotak Mahindra Bank Limited → acquires or invests in → Deutsche Bank's retail banking, private banking and wealth management businesses in India.

Q1 FY27 · Announced · Positive · Counterparty named; listed-company identity not verified.
1. Proposed
2. Announced
3. Active
4. Completed / ended
Strong strategic fit with Kotak's affluent and SME franchise, expected to be ROE accretive and creates incremental cross-sell opportunities.

Disclosed value: INR 281 crores

“As you know, we entered into a definitive agreement to acquire Deutsche Bank's retail banking, private banking and wealth management businesses in India for INR 281 crore. The businesses comprise of 150,000 customers with INR 29,000 crore of advances, INR 16,000 crore in deposits and INR 10,500 crore of wealth AUM. The transaction has a strong strategic fit with Kotak's affluent and SME franchise and is expected to be ROE accretive and creates incremental cross-sell opportunities.”

Disclosure indicates an acquisition or investment without specifying full buyout versus minority stake.

Evidence drawer

Evidence type: Transcript excerpt

“As you know, we entered into a definitive agreement to acquire Deutsche Bank's retail banking, private banking and wealth management businesses in India for INR 281 crore. The businesses comprise of 150,000 customers with INR 29,000 crore of advances, INR 16,000 crore in deposits and INR 10,500 crore of wealth AUM. The transaction has a strong strategic fit with Kotak's affluent and SME franchise and is expected to be ROE accretive and creates incremental cross-sell opportunities.”

Source company: Kotak Mahindra Bank Limited · Counterparty: Deutsche Bank's retail banking, private banking and wealth management businesses in India · Call date: 2026-07-18 · Period: Q1 FY27 · Review status: Structured call extraction
Kotak Mahindra Bank Limited → divests to → Infina Finance Limited.

Q4 FY26 · Closed / completed · Neutral · Counterparty named; listed-company identity not verified.
1. Proposed
2. Announced
3. Active
4. Completed / ended
In pursuance to compliance with the RBI regulatory directions issued in December '25.

“During the Q4, Kotak Mahindra Capital Company sold its 30% stake in its associate Infina Finance Limited, resulting in profit after tax of INR 1,094 crore in the Standalone book. At the consolidated level, the PAT on this divestment is INR 185 crore after considering the carrying value of Infina in the consol books. Post stake sale, Infina ceases to be an associate with effect from 24th March 2026.”

Evidence drawer

Evidence type: Transcript excerpt

“During the Q4, Kotak Mahindra Capital Company sold its 30% stake in its associate Infina Finance Limited, resulting in profit after tax of INR 1,094 crore in the Standalone book. At the consolidated level, the PAT on this divestment is INR 185 crore after considering the carrying value of Infina in the consol books. Post stake sale, Infina ceases to be an associate with effect from 24th March 2026.”

Source company: Kotak Mahindra Bank Limited · Counterparty: Infina Finance Limited · Call date: 2026-05-02 · Period: Q4 FY26 · Review status: Structured call extraction

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with Kotak Mahindra Bank Limited. Each comparison matches a headwind disclosed by Kotak Mahindra Bank Limited in the same calendar reporting quarter.

The one-time impact is expected to be under 2% of net worth on April 1

Topic: Regulatory compliance · Regulatory policy · Q2 FY27

Kotak Mahindra Bank Limited reported: The one-time impact is expected to be under 2% of net worth on April 1. The recurring +12-15 bps credit cost guidance awaits regulatory clarity, expected during Q3.

Reporting period ended 2026-09-30

41 other companies · Regulatory policy

HDFC Bank (HDFCBANK) reported (period ended 2026-09-30): LCR at 113% is close to the regulatory minimum of 100% and the bank's target range of 110-120%, potentially limiting aggressive loan growth without further deposit mobilization.
ICICI Bank (ICICIBANK) reported (period ended 2026-09-30): The bank continues to hold an additional standard asset provision of ₹1,283 crore mandated by the RBI pending completion and regulatory clearance of the remediation review.
Bajaj Finance Limited (BAJFINANCE) reported (period ended 2026-09-30): Potential transient impact on AUM and NIM if RBI implements a complete ban on revolver loans; company is launching new term loan variants and awaiting final regulations on insurance norms.
Axis Bank (AXISBANK) reported (period ended 2026-09-30): Bank incurred >₹130 crore in labor and ESIC clarification provisions during Q2 and acknowledged regulatory guidelines are continually evolving.

Evidence drawer

Evidence type: Summary paraphrase

The one-time impact is expected to be under 2% of net worth on April 1. The recurring +12-15 bps credit cost guidance awaits regulatory clarity, expected during Q3.

Source company: Kotak Mahindra Bank Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 41

Similar commentary provides sector context; it does not establish a business relationship.
Monsoon rainfall deficit is about 13%

Topic: Weather or labor disruption · Labor execution · Q2 FY27

Kotak Mahindra Bank Limited reported: Monsoon rainfall deficit is about 13%. Management sees no visible impact on delinquency yet but is 'very watchful' because the borrowers are small and marginal farmers.

Reporting period ended 2026-09-30

12 other companies · Labor execution

Shriram Finance Limited (SHRIRAMFIN) reported (period ended 2026-09-30): Stage 2/3 rose in CE, gold and MSME, and slippages were up ~50% YoY per the analyst. Maharashtra, Karnataka and Telangana are the worst hit, with 51.2% of India's area abnormally dry. Management calls it seasonal and temporary
AU Small Finance Bank Limited (AUBANK) reported (period ended 2026-09-30): Analysts flagged risks from El Niño and drought in Central India; management noted six-month credit costs remain well below guidance at 74 bps.
Bajaj Housing Finance Limited (BAJAJHFL) reported (period ended 2026-09-30): If acquisition pricing does not move in line with portfolio pricing, it could lead to elevated attrition, impacting AUM growth.
RBL Bank (RBLBANK) reported (period ended 2026-09-30): Deficient monsoon noted in certain districts requires monitoring, though retail and rural collections remain stable with JLG bucket-X efficiency at ~99.5%.

Evidence drawer

Evidence type: Summary paraphrase

Monsoon rainfall deficit is about 13%. Management sees no visible impact on delinquency yet but is 'very watchful' because the borrowers are small and marginal farmers.

Source company: Kotak Mahindra Bank Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 12

Similar commentary provides sector context; it does not establish a business relationship.

Mentions over time

First observed: Q1 2026 · Latest observed: Q3 2026

Recorded disclosures by calendar reporting quarter
Period	Other calls	Own calls
Q3 2026	0	1
Q2 2026	0	1
Q1 2026	0	1

Counts reflect the calls covered here. No mention in a period does not establish that a relationship ended.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

KOTAKBANK ₹467 +1.65%

Guidance Verdict (25 tracked) 11 kept · 10 open· 4 missed

AI Call Brief · Q2 FY27

Kotak Mahindra Bank Limited Q2 FY27

Overview

Symbol: NSE:KOTAKBANK
Sector: Financial Services
Exchange: NSE
Currency: INR

What Kotak Mahindra Bank Limited does

Based on the company's own presentations, annual report and earnings calls.

Kotak Mahindra Bank is a private-sector bank and the flagship of the Kotak Mahindra Group, one of India's diversified and integrated financial-services conglomerates, established in 1985. It earns primarily from lending across consumer, commercial and wholesale banking and from deposit-based services, complemented by group businesses spanning securities broking, investment banking, asset management, life insurance and vehicle finance. The bank serves retail, SME, corporate and institutional clients through a pan-India network of branches, ATMs, franchisees and digital platforms, with an international presence at GIFT City (Gujarat), the DIFC in Dubai and offices across several overseas financial centres.

Segments

Consumer Banking
Commercial Banking
Wholesale Banking
Treasury

Bank branches (India): 2,148
Bank ATMs (incl. cash recyclers): 3,295
Number of customers of the Bank: 5.3 crore
Full-time employees (group): 114,000+
Group branch network in India: 5,378
Pan-India operating locations: 961

Founded 1985Headquarters 27 BKC, Bandra Kurla Complex, Mumbai, Maharashtra, IndiaEmployees 1,14,000 (2026-03-31) Company website

How the price took the results

Moved an average of ±2.7% across the last 4 priced result releases

Close before → close after

Quarter	Release	Revenue (₹ Cr)	Net profit (₹ Cr)	Rev YoY	Before → After	Reaction
Q2 FY27	24 Oct 26	15,948	4,212	+16.8%	₹430.5 → ₹440.75	+2.4%
Q1 FY27	18 Jul 26	14,477	4,123	+4.6%	₹389.95 → ₹382.05	−2.0%
Q4 FY26	2 May 26	14,175	4,027	+4.8%	₹383.3 → ₹371.65	−3.0%
Q3 FY26	24 Jan 26	13,903	3,446	+3.5%	₹422.8 → ₹408.7	−3.3%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

Guidance

What management said, and what became of it

11 of 15 judged targets kept · 10 open · verdicts reflect calls analysed to Q2 FY27.

Target	Original wording	Said	Latest call	Verdict
Growth Provision Coverage Ratio (PCR)	75% Call transcript, Q1 FY25 · 20 Jul 2024	Q1 FY25	Q2 FY27:Provision Coverage Ratio remained above 78% in Q2 FY27, comfortably exceeding the 75% target. Call transcript, Q2 FY27 · 24 Oct 2026	Achieved
Growth Unsecured Retail Book Growth	Mid-teens Call transcript, Q1 FY25 · 20 Jul 2024	Q1 FY25	Q2 FY27:Unsecured retail share of advances stood at 8.1% (with PL/BL up 9% YoY and credit cards up 7% YoY). Management explicitly ruled out rushing growth ('We don't want to rush it... we do not want to try to do it very fast'), confirming the original mid-teens target remains abandoned. Call transcript, Q2 FY27 · 24 Oct 2026	Missed
Growth Return on Assets (ROA)	Above 2% Call transcript, Q3 FY25 · 18 Jan 2025	Q3 FY25	Q2 FY27:Standalone Bank RoA fell to 1.92% in Q2 FY27 from 2.14% in Q1 FY27, dipping below the 2% threshold due to the INR 55,344 crore FCNR(B) balance-sheet expansion ahead of full loan deployment. Call transcript, Q2 FY27 · 24 Oct 2026	At Risk

Source: Inve Guidance Tracker for Kotak Mahindra Bank Limited · to Q2 FY27

The full ledger

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Browse the register

Latest analysed call: Q2 FY27, 24 Oct 2026. 9 calls analysed.

Call summaries

Q2 FY27 — 24 Oct 2026

Kotak Mahindra Bank Limited Q2 FY27

Profit growth was strong: Bank PAT rose 29% YoY to ₹4,212 crore and consolidated PAT rose 26% to ₹5,645 crore, helped by lower credit costs (35 bps) and better operating leverage (cost-to-assets of 2.40%). The quarter was dominated by a one-off ₹55,344 crore FCNR(B) deposit mobilisation. The proceeds funded the ₹9,600 crore KMIL loan transfer and a ₹9,800 crore IBPC paydown, and they inflated headline advances (+25% YoY) and deposits (+23% YoY). The FCNR(B) inflows cut 15 bps from NIM, which fell to 4.31%. Management expects deployment into customer assets over the next few quarters, plus repo

Read the full call

Q1 FY27 — 18 Jul 2026

Kotak Mahindra Bank Limited Q1 FY27

Kotak Mahindra Bank delivered a strong Q1 FY27 with group PAT up 23% and standalone PAT up 26% Y-o-Y, driven by robust customer asset growth and stable NIMs. Efficiency improvements led to a reduction in cost to total assets, while asset quality saw a slight uptick in net NPAs and slippages. The strategic acquisition of Deutsche Bank's retail businesses is poised to enhance the bank's franchise and ROE.

Read the full call

Q4 FY26 — 2 May 2026

Kotak Mah. Bank Q4 FY26

Kotak Mahindra Bank delivered a strong Q4 FY26 with robust standalone PAT growth of 13% and significant improvement in credit costs. The bank maintained healthy advances and deposit growth, supported by a resilient CASA ratio and strong asset quality metrics. While facing macroeconomic headwinds and MTM impacts on capital market businesses, management emphasized a focus on calibrated growth, digital transformation, and continued cost efficiencies, anticipating a gradual NIM reduction in FY27.

Read the full call

Summaries of each call, in Inve’s own words; the transcript is not reproduced. Not investment advice.

Every analysed call

Kotak Mahindra Bank Limited earnings calls (KOTAKBANK)

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).

Trailing twelve months
6.19% TTM to Sept 2026
Fiscal year
6.98% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6.49% 6.29% 6.86% 7.86% 8.17% 6.98%

How it is calculated. Adjusted EBIT ÷ average capital employed, including minority equity and deposits.
Trailing twelve months
10.89% TTM to Sept 2026
Fiscal year
11.39% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
13.20% 13.34% 14.31% 15.06% 15.35% 11.39%

How it is calculated. Adjusted profit attributable to owners ÷ average owners’ equity.
Trailing twelve months
1.89% TTM to Sept 2026
Fiscal year
2.05% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.16% 2.35% 2.56% 2.62% 2.68% 2.05%

How it is calculated. Total profit excluding exceptional items after tax ÷ average total assets.
Trailing twelve months
28.83% TTM to Sept 2026
Fiscal year
27.64% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
30.35% 35.77% 35.39% 32.38% 33.61% 27.64%

How it is calculated. Total profit excluding exceptional items after tax ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
48.86% 69.63% -8.32% 86.12% 76.45% 216.34%

How it is calculated. Operating cash flow ÷ reported total net profit.
Trailing twelve months
8.39% TTM to Sept 2026
Fiscal year
6.26% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-1.95% 2.80% 24.93% 33.42% 16.77% 6.26%

How it is calculated. Revenue change against the same period one year earlier.
Trailing twelve months
14.16% TTM to Sept 2026
Fiscal year
-12.60% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
16.23% 21.15% 23.60% 22.06% 21.20% -12.60%

How it is calculated. Adjusted profit attributable to owners vs the same period one year earlier.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.57× 0.58× 0.51× 0.58× 0.62× 0.53×

How it is calculated. Borrowings ÷ owners’ equity.
Trailing twelve months
1.92× TTM to Sept 2026
Fiscal year
1.88× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.01× 2.38× 2.36× 2.06× 2.02× 1.88×

How it is calculated. Adjusted EBIT ÷ interest expense.
Trailing twelve months
0.07× TTM to Sept 2026
Fiscal year
0.07× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.07× 0.07× 0.07× 0.08× 0.08× 0.07×

How it is calculated. Revenue ÷ average total assets.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
₹35,711.00 Cr ₹39,599.00 Cr ₹37,549.00 Cr ₹38,819.00 Cr ₹55,874.00 Cr ₹44,112.00 Cr

How it is calculated. Borrowings less cash equivalents.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
5.47× 5.30× 5.22× 5.34× 5.23× 5.20×

How it is calculated. Average total assets ÷ closing owners’ equity.
Trailing twelve months
₹42,401.00 Cr TTM to Sept 2026
Fiscal year
₹40,161.00 Cr FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
₹19,853.00 Cr ₹22,187.00 Cr ₹27,740.00 Cr ₹33,670.00 Cr ₹37,398.00 Cr ₹40,161.00 Cr

How it is calculated. Interest earned less interest expense.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
7.09% 11.19% 16.51% 23.25% 11.10% 14.60%

How it is calculated. Deposits vs the same period one year earlier.
Trailing twelve months
21.75× TTM to Sept 2026
Fiscal year
23.91× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Current market cap ÷ adjusted profit attributable to owners for the selected income period. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market cap ÷ owners’ equity from the balance sheet selected for the TTM inputs. Uses current market cap, not the share price at the period end.
Trailing twelve months
5.12% TTM to Sept 2026
Fiscal year
5.19% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Adjusted EBIT ÷ enterprise value. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.00% 2.00% 2.00% 2.00% 2.00% 3.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
6.49%	6.29%	6.86%	7.86%	8.17%	6.98%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
13.20%	13.34%	14.31%	15.06%	15.35%	11.39%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.16%	2.35%	2.56%	2.62%	2.68%	2.05%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
30.35%	35.77%	35.39%	32.38%	33.61%	27.64%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
48.86%	69.63%	-8.32%	86.12%	76.45%	216.34%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-1.95%	2.80%	24.93%	33.42%	16.77%	6.26%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
16.23%	21.15%	23.60%	22.06%	21.20%	-12.60%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.57×	0.58×	0.51×	0.58×	0.62×	0.53×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.01×	2.38×	2.36×	2.06×	2.02×	1.88×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.07×	0.07×	0.07×	0.08×	0.08×	0.07×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
₹35,711.00 Cr	₹39,599.00 Cr	₹37,549.00 Cr	₹38,819.00 Cr	₹55,874.00 Cr	₹44,112.00 Cr

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
5.47×	5.30×	5.22×	5.34×	5.23×	5.20×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
₹19,853.00 Cr	₹22,187.00 Cr	₹27,740.00 Cr	₹33,670.00 Cr	₹37,398.00 Cr	₹40,161.00 Cr

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
7.09%	11.19%	16.51%	23.25%	11.10%	14.60%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.00%	2.00%	2.00%	2.00%	2.00%	3.00%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +29% (quarter to sept 2026 against sept 2025).

Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026	Sept 2026
13,428	13,530	13,837	13,649	13,903	14,175	14,477	15,948
5,432	5,903	5,983	5,579	5,832	5,653	5,803	6,074
2,623	3,182	3,080	2,589	2,838	3,116	3,338	3,194
6,231	6,246	6,577	6,339	6,339	6,299	6,549	7,489
0	0	0	0	0	0	0	0
4,387	4,563	4,356	4,321	4,570	5,339	5,463	5,579
25.0%	22.0%	25.0%	25.0%	25.0%	25.0%	25.0%	24.0%
3,305	3,552	3,282	3,253	3,446	4,027	4,123	4,212
3.32	3.57	3.30	3.27	3.47	4.05	4.15	4.23

Source: Inve data · income statement, quarterly · to Sept 2026

Sales 3Y CAGR +9.6%

Net profit 3Y CAGR −2.1%

Mar 2023	Mar 2024	Mar 2025	Mar 2026
42,151	45,799	52,920	55,564
34,085	18,253	21,696	23,047
25,991	10,273	14,938	11,623
14,411	19,806	24,578	25,554
0	0	0	0
19,646	18,014	21,585	18,586
14,924	13,781	16,451	14,008

Source: Inve data · income statement, annual · to Mar 2026

Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026	Sept 2026
993	994	994	994	995	995
82,027	95,725	1,16,246	1,66,941	1,34,317	1,44,989
23,916	28,368	48,443	—	32,475	55,223
3,63,096	4,48,954	4,99,055	—	5,72,456	6,51,491
19,830	26,316	28,886	1,37,817	42,760	34,059
4,89,862	6,00,357	6,93,624	9,12,952	7,83,003	8,86,758
1,920	2,155	2,359	2,838	2,388	2,392
0	0	0	0	0	0
1,21,404	1,55,404	1,81,907	2,84,843	1,72,535	2,02,035
3,66,538	4,42,798	5,09,358	6,25,271	6,08,079	6,82,332
4,89,862	6,00,357	6,93,624	9,12,952	7,83,003	8,86,758

Source: Inve data · balance sheet · to Sept 2026

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-5,298	2,161	-8,369	13,901	12,806	37,211
-1,782	-1,320	529	2,031	-19,538	-2,624
-6,586	2,456	-2,542	4,314	19,723	-16,278
-13,666	3,297	-10,382	20,246	12,991	18,310
-5,550	1,685	-9,119	13,044	11,925	36,403

Source: Inve data · cash flow · to Mar 2026

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12.0%	13.0%	14.0%	15.0%	15.0%	12.0%
	3.0%	3.0%	3.0%	3.0%	3.0%	5.0%

Source: Inve data · annual ratios · to Mar 2026

Where revenue comes from

The businesses behind the company’s reported revenue.

Reporting basis Reporting period

Retail Banking contributes 26.2% of reported segment revenue.

Quarter ended 30 Jun 2026 · Consolidated

Retail Banking 26.2%

₹8,341.25 crore
Insurance 26.1%

₹8,309.50 crore
Corporate / Wholesale Banking 22.1%

₹7,016.63 crore
Treasury, BMU and Corporate Centre 11.5%

₹3,657.11 crore
Broking 4.3%

₹1,357.39 crore
Vehicle Financing 3.8%

₹1,213.11 crore
Asset Management 3.4%

₹1,070.74 crore
Other Lending Activities 1.8%

₹583.26 crore
Advisory and Transactional Services 0.8%

₹248.54 crore

Reported business segments for quarter ended 30 Jun 2026
Business segment	Revenue · ₹ crore	Share
Retail Banking	8,341.25	26.2%
Insurance	8,309.50	26.1%
Corporate / Wholesale Banking	7,016.63	22.1%
Treasury, BMU and Corporate Centre	3,657.11	11.5%
Broking	1,357.39	4.3%
Vehicle Financing	1,213.11	3.8%
Asset Management	1,070.74	3.4%
Other Lending Activities	583.26	1.8%
Advisory and Transactional Services	248.54	0.8%

Share = segment revenue ÷ total segment revenue, before intersegment adjustments.

How these numbers add up

Total segment revenue: ₹31,797.53 crore
Intersegment adjustment: ₹1,728.93 crore
Net segment revenue: ₹30,068.60 crore

Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.

Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.

How the mix has moved

Asset Management grew from 2% to 3% of revenue over the last two years.

KOTAKBANK revenue by business segment, share of consolidated revenue by quarter
Segment	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	YoY growth latest quarter
Retail Banking	—	34%	30%	30%	31%	30%	28%	26%	-3.6%
Insurance	25%	17%	24%	22%	19%	24%	24%	26%	+28.4%
Corporate / Wholesale Banking	21%	—	23%	22%	25%	21%	23%	22%	+12.0%
Treasury, BMU and Corporate Centre	11%	12%	11%	13%	12%	11%	11%	12%	-1.4%
Broking	4%	4%	3%	4%	4%	4%	4%	4%	+24.5%
Vehicle Financing	4%	4%	4%	4%	4%	4%	4%	4%	+11.8%
Asset Management	2%	3%	3%	3%	3%	3%	2%	3%	+23.6%
Other Lending Activities	2%	2%	2%	2%	2%	2%	2%	2%	+8.7%
Advisory and Transactional Services	2%	2%	1%	1%	1%	1%	1%	1%	+10.8%

Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.

See how segments are shifting across companies → Segment Shift

Ownership

Who owns it

Domestic institutions hold 38.54% as of Sept 2026; institutions added 0.27 pts since Jun 2026.

Promoters −0.01 pts 25.86%
Foreign institutions −0.56 pts 24.65%
Domestic institutions +0.83 pts 38.54%
Public −0.25 pts 10.95%

7,69,224 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who bought this quarter

since Jun 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Insurer +0.36 pp 7.26% held
Mutual fund +0.33 pp 3.29% held
Mutual fund +0.29 pp 6.71% held
Mutual fund +0.26 pp 1.71% held
Sovereign +0.18 pp 1.50% held
Mutual fund +0.12 pp 3.63% held

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Sep 2026 filing

Every holder of Kotak Mahindra Bank Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	25.69%	unchanged
Insurer	7.26%	+0.36 pp
Mutual fund	6.71%	+0.29 pp
Mutual fund	3.63%	+0.12 pp
Mutual fund	3.29%	+0.33 pp
Pension / PF	2.34%	unchanged
Mutual fund	1.98%	unchanged
Mutual fund	1.71%	+0.26 pp
Mutual fund	1.65%	unchanged
Sovereign	1.50%	+0.18 pp
Insurer	1.02%	unchanged
	0.10%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in KOTAKBANK

Filings to Sep 2026

3 new, 20 added, 19 trimmed, 0 sold out — net +397.94 L shares (+3.1%).

Held by funds: ₹55.4k Cr; 83 schemes
Biggest holder: Parag Parikh Flexi Cap Fund; ₹6.4k Cr · 4.4% of that fund

Scheme	Holding	Last month	Held since
Parag Parikh Flexi Cap Fund PPFAS Mutual Fund	₹6.4k Cr	held	Nov '23
SBI Nifty 50 ETF SBI Mutual Fund	₹6.0k Cr	+0.13 L	Aug '21
SBI BSE Sensex ETF SBI Mutual Fund	₹4.1k Cr	+5.02 L	Aug '21
HDFC Flexi Cap Fund HDFC Mutual Fund	₹3.7k Cr	+1.09 L	Nov '23
SBI Aggressive Hybrid Fund (Erstwhile known as SBI Equity Hybrid Fund) SBI Mutual Fund	₹2.9k Cr	held	Apr '24
SBI Focused Fund SBI Mutual Fund	₹2.9k Cr	held	Jun '24
SBI Large Cap Fund SBI Mutual Fund	₹2.4k Cr	+98.00 L	Aug '21
HDFC Large Cap Fund HDFC Mutual Fund	₹2.3k Cr	held	Dec '24

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Sep 2026

20 added, 19 trimmed — net +3.98 cr shares (+3.1%)

Funds are sitting on: +26%; vs est. average cost
Held by funds: ₹55.4k Cr; 83 schemes · ≈ 13% of the company
Biggest holder: Parag Parikh Flexi Cap Fund; ₹6.4k Cr · 4.4% of that fund
Longest holder: Nippon India Index Fund - Nifty 50 Plan; 14y 1m · since Sep '12

Shares held by these funds +249%

Oct '23 132.74 cr shares Sep '26

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Quick Answers

Frequently asked questions on Kotak Mahindra Bank Limited

Compiled directly from KOTAKBANK's filed financial statements, earnings call transcripts, and ownership disclosures.

How did Kotak Mahindra Bank Limited (KOTAKBANK) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, Kotak Mahindra Bank Limited reported revenue of ₹15.9k Cr, net profit of ₹4.2k Cr. Diluted earnings per share stood at ₹4.23.

How is Kotak Mahindra Bank Limited (KOTAKBANK) valued today, and what growth does the stock price imply?

Kotak Mahindra Bank Limited (KOTAKBANK) trades at ₹467, with a market capitalization of ₹461.2k Cr.

Who owns Kotak Mahindra Bank Limited (KOTAKBANK) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 25.9%, FIIs hold 24.6%, DIIs hold 38.5%, Public shareholders hold 10.9%.

Learn to analyse Kotak Mahindra Bank Limited

Guides on how to read this kind of business and the numbers that matter.