TrueCAGR
AXIS Bank · Research view

AXIS Bank Ltd.

NSE: AXISBANKBSE: 532215ISIN INE238A01034Face value ₹2consolidated
₹1,214
+0.41% · 2026-10-01 · 52-wk ₹1,160–₹1,403
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext
StrengthTalking point

Asset quality at a multi-year best

Gross NPA of 1.2% is the lowest in 6 years, down from a peak of 5.0%.

Importance 54 / 95 · financial health

Concern

Returns declining

ROE declined from 16.4% to 13.2% year on year.

Importance 43 / 95 · profitability

Concern

Net interest margin compressing

Net interest margin fell from 3.5% to 3.2% year on year.

Importance 38 / 95 · profitability

Section 03 · The company

Who is this company?

Classified by the exchange under Financial Services › Financial Services › Banks › Private Sector Bank.

Market cap
₹3.77 L cr
FY2026 total income
₹1,62,212 cr
FY2026 net profit
₹26,385 cr
Net worth
₹2,13,579 cr
Advances
₹12,82,392 cr
EPS (basic)
₹85.04
Listed
NSE · BSE
Reporting
Banking (Sch. III)Apr–Mar

Peer set used on this page: 8 private sector bank.

Section 04 · Business performance

Is the business growing?

Total income & net profit — FY19 to FY26₹ crore · consolidated
₹'000 cr05010015020001530TOTAL INCOMENET PROFIT70k5,039FY1980k1,853FY2081k7,196FY2186k14,119FY221.06L10,818FY231.38L26,386FY241.56L28,055FY251.62L26,385FY26
Total incomeNet profit
Advances & deposits — FY19 to FY26₹ crore · consolidated
0k667k1333k2000k5.07L5.51LFY195.83L6.42LFY206.35L7.08LFY217.25L8.21LFY228.68L9.46LFY239.99L10.67LFY2410.81L11.71LFY2512.82L13.34LFY26
Advances (loans)Deposits
Strength

Advances grew 18.6% year on year (FY2025 → FY2026).

Rule BANK_LOAN_GROWTH_STRONG

Advances growth per year
+14.2%over 7 years
Advances growth
+18.6%vs last year
Deposits growth
+13.9%vs last year
Net profit growth
−6.0%vs last year
Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Strength

Q1 FY27 net profit was ₹7,632 cr, up 22.2% from ₹6,244 cr a year earlier.

Rule QTR_PROFIT_GROWTH_YOY

Strength

Q1 FY27 total income of ₹43,213 cr is the highest of the 16 quarters on record for this company.

Rule QTR_REVENUE_AT_RECORD

Strength

Q1 FY27 net profit of ₹7,632 cr is the highest of the 16 quarters on record for this company.

Rule QTR_PROFIT_AT_RECORD

A. Quarterly results

Latest quarters — Q2 '25 to Q1 '27₹ crore · consolidated
₹'000 cr013253850048TOTAL INCOMENET PROFIT39k7,401Q2 '2539k6,742Q3 '2540k7,475Q4 '2540k6,244Q1 '2640k5,528Q2 '2641k7,011Q3 '2641k7,603Q4 '2643k7,632Q1 '27
Total incomeNet profit
QuarterTotal incomeYoYNet profitYoY
Q2 FY2539,204—7,401—
Q3 FY2538,959+10.9%6,742+3.9%
Q4 FY2539,958+5.6%7,475−1.6%
Q1 FY2640,401+6.9%6,244−3.0%
Q2 FY2639,770+1.4%5,528−25.3%
Q3 FY2640,898+5.0%7,011+4.0%
Q4 FY2641,143+3.0%7,603+1.7%
Q1 FY2743,213+7.0%7,632+22.2%

B. TTM snapshot

Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters

Total income
₹1,65,024 crTTM
PBT
₹34,275 crTTM
Net profit
₹27,773 crTTM

C. Corporate actions

10 Jul 2026DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
4 Jul 2025DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
12 Jul 2024DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
7 Jul 2023DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
7 Jul 2022DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
4 Jul 2019DividendFinal Dividend - Rs. - 1.0000 — ₹1.00/share
6 Jul 2017DividendFinal Dividend - Rs. - 5.0000 — ₹5.00/share
7 Jul 2016DividendDividend - Rs. - 5.0000 — ₹5.00/share
9 Jul 2015DividendDividend - Rs. - 4.6000 — ₹4.60/share
28 Jul 2014Stock splitStock Split From Rs.10/- to Rs.2/- — 10:2
12 Jun 2014DividendDividend - Rs. - 20.0000 — ₹20.00/share
5 Jul 2013DividendDividend - Rs. - 18.0000 — ₹18.00/share
14 Jun 2012DividendDividend - Rs. - 16.0000 — ₹16.00/share
8 Jun 2011DividendDividend - Rs. - 14.0000 — ₹14.00/share
20 May 2010DividendDividend - Rs. - 12.0000 — ₹12.00/share
14 May 2009DividendDividend - Rs. - 10.0000 — ₹10.00/share
22 May 2008DividendDividend - Rs. - 6.0000 — ₹6.00/share
4 Jun 2001DividendDividend - Rs. - 1.5000 — ₹1.50/share
Section 06 · Business performance

Is it becoming more profitable?

Net interest margin & ROE — FY19 to FY26% · consolidated
0%1%2%3%4%0%5%10%15%20%3.2%FY19FY20FY21FY22FY23FY24FY25FY26
Net interest margin (left)Return on equity (right)
Concern

ROE declined from 16.4% to 13.2% year on year.

Rule ROE_DETERIORATED_YOY

NIM FY2026
3.25%
Cost-to-income
47.9%
ROE FY2026
13.2%
ROA FY2026
1.46%

Net interest margin fell from 3.5% to 3.2% year on year.

Section 07 · Financial health

Is financial health improving?

Asset quality — gross & net NPA, FY19 to FY26% of advances · lower is better
0%1%2%3%4%5%6%1.2%0.4%FY19FY20FY21FY22FY23FY24FY25FY26
Gross NPA %Net NPA %
Strength

Gross NPA of 1.2% is the lowest in 6 years, down from a peak of 5.0%.

Rule BANK_ASSET_QUALITY_MULTIYEAR_BEST

Net worth — FY19 to FY26₹ crore · consolidated
₹'000 cr010020030068kFY1986kFY201.04LFY211.18LFY221.29LFY231.56LFY241.86LFY252.14LFY26
Net worth (capital + reserves)
Gross NPA FY2026
1.24%
Net NPA
0.37%
Credit cost
1.15%of advances
Credit / deposit
96%
Section 08 · Relative position

How does it compare with peers?

Ranked against 8 private sector bank (FY2026, consolidated). No peer-relative rule fired for this company.

Return on equity

AXISBANK · 3rd of 8 · set median 11.4%

ICICIBANK15.3%HDFCBANK13.8%AXISBANK13.2%KOTAKBANK11.4%FEDERALBNK11.4%YESBANK7.1%IDFCFIRSTB3.8%INDUSINDBK1.4%

P/E ratio

AXISBANK · 1st of 8 · set median 16.9×

AXISBANK13.6×HDFCBANK14.0×FEDERALBNK16.7×ICICIBANK16.7×YESBANK17.2×KOTAKBANK20.6×IDFCFIRSTB30.0×INDUSINDBK51.8×
P / E
13.6×TTM to Jun 26
P / B
1.8×latest book
P / S
2.3×TTM sales
Earnings yield
7.4%TTM to Jun 26

On the trailing twelve months. Last full year: P/E 14.3× · P/S 2.3× · ROE 13.2%.

Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-01 to 2026-10₹ per share · split / bonus adjusted
0k₹1,2142020202120222023202420252026

Long-term price performance is shown above.

1-year return
+4.7%
3-year return
+17.1%
5-year return
+58.0%
From 52-wk high
−13.5%
Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg
Below₹1,240
vs 200-day avg
Below₹1,285
RSI (14)
43.6neutral
MACD histogram
-3.2
From 52-wk high
−13.5%
From 52-wk low
+4.7%
30-day volatility
24.2%ann.
6-month return
+0.7%
RSI (14) · 0–10043.6 — neutral
0305070100OVERSOLDOVERBOUGHT43.6
Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

  • Concern
    Returns declining
    ROE declined from 16.4% to 13.2% year on year.
    ROE_DETERIORATED_YOY · conviction 43
  • Concern
    Net interest margin compressing
    Net interest margin fell from 3.5% to 3.2% year on year.
    BANK_NIM_COMPRESSED_YOY · conviction 38
  • Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
MetricFY19FY20FY21FY22FY23FY24FY25FY26
Total income70,23280,05880,84886,1141,06,1551,37,9891,55,9171,62,212
Interest earned56,04463,71664,69668,84687,4481,12,7591,27,3741,32,538
Interest expended33,88337,99634,92634,92343,38961,39171,03674,075
Net interest income22,16025,72029,77033,92344,05951,36856,33858,463
Pre-provision operating profit19,62923,99626,74726,36733,79639,35644,88945,911
Provisions & contingencies12,03718,71616,9977,4382,6854,1788,16613,617
Profit before tax7,5925,2809,75018,92918,62135,17836,72232,293
Net profit5,0391,8537,19614,11910,81826,38628,05526,385
EPS (₹)19.66.824.246.035.285.690.785.0
Net worth67,88786,3401,03,5941,18,1101,29,3561,56,1291,86,0532,13,579
Total debt1,61,2501,55,1801,52,2491,99,7782,06,2142,28,2002,20,6872,80,511
Advances5,06,6565,82,9596,35,0717,25,1268,68,3889,99,33310,81,22912,82,392
Deposits5,50,7466,42,1577,07,6238,20,9149,45,82510,67,10211,70,92113,33,791
Borrowings1,61,2501,55,1801,52,2491,99,7782,06,2142,28,2002,20,6872,80,511
Investments1,74,0561,55,2822,25,3362,74,6082,88,0953,32,3543,96,6854,46,422
Gross NPAs030,23425,31521,82218,60415,12714,49016,084
Net NPAs09,3606,9945,5123,5593,2473,6854,790
Operating cash flow——12,63328,13722,075−5,55544,384−8,474
Key ratios — consolidated
RatioFY19FY20FY21FY22FY23FY24FY25FY26
Growth
Advances growth YoY—15.18.914.219.815.18.218.6
Deposits growth YoY—16.610.216.015.212.89.713.9
Profit growth YoY—-63.2288.396.2-23.4143.96.3-6.0
Profitability
Net interest margin %2.73.03.13.13.53.63.53.2
Cost-to-income %46.043.041.848.546.248.647.147.9
Return on equity %7.42.47.612.78.718.516.413.2
Return on assets %0.60.20.71.30.91.81.81.5
Asset quality
Gross NPA %—5.03.92.92.11.51.31.2
Net NPA %—1.61.10.80.40.30.30.4
Credit cost %2.43.42.81.10.30.40.81.2
Credit / deposit %92.090.889.788.391.893.692.396.1
Financials: BSE Integrated Filing inline XBRL (SEBI taxonomy), normalised to standard metric keys. Prices: NSE end-of-day, raw OHLC preserved; a corporate-action factor produces the adjusted series. The insight engine writes factual observations from fixed rules — it does not make recommendations. Not investment advice.