TrueCAGR
AXIS Bank · Research view

AXIS Bank Ltd.

NSE: AXISBANKBSE: 532215ISIN INE238A01034Face value ₹2standalone
₹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
₹1,53,163 cr
FY2026 net profit
₹24,457 cr
Net worth
₹2,04,194 cr
Advances
₹12,33,570 cr
EPS (basic)
₹78.82
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 PROFIT68k4,677FY1978k1,627FY2078k6,589FY2183k13,025FY221.02L9,580FY231.32L24,861FY241.48L26,373FY251.53L24,457FY26
Total incomeNet profit
Advances & deposits — FY19 to FY26₹ crore · consolidated
0k667k1333k2000k4.95L5.48LFY195.71L6.40LFY206.24L7.07LFY217.08L8.22LFY228.45L9.47LFY239.65L10.69LFY2410.41L11.73LFY2512.34L13.36LFY26
Advances (loans)Deposits
Strength

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

Rule BANK_LOAN_GROWTH_STRONG

Advances growth per year
+13.9%over 7 years
Advances growth
+18.5%vs last year
Deposits growth
+13.9%vs last year
Net profit growth
−7.3%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
3.21%
Cost-to-income
47.9%
ROE FY2026
12.8%
ROA FY2026
1.40%

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%1.3%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 cr010020030067kFY1985kFY201.02LFY211.15LFY221.25LFY231.50LFY241.79LFY252.04LFY26
Net worth (capital + reserves)
Gross NPA FY2026
1.29%
Net NPA
0.39%
Credit cost
1.17%of advances
Credit / deposit
92%
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 income68,11678,17278,48382,5971,01,6651,31,8111,47,9341,53,163
Interest earned54,98662,63563,64567,37785,1641,09,3691,22,6771,27,032
Interest expended33,27837,42934,40634,24542,21859,47468,32970,984
Net interest income21,70825,20629,23933,13242,94649,89454,34856,048
Pre-provision operating profit19,00523,43825,70224,74232,04837,12342,10542,817
Provisions & contingencies12,03118,53416,8967,3592,6534,0637,75813,263
Profit before tax6,9744,9048,80617,38316,90633,06034,34729,554
Net profit4,6771,6276,58913,0259,58024,86126,37324,457
EPS (₹)18.26.022.142.531.280.785.378.8
Net worth66,67684,9481,01,6031,15,0251,24,9931,50,2351,78,6172,04,194
Total debt1,52,7761,47,9541,42,8731,85,1341,86,3001,96,8121,84,1472,35,271
Advances4,94,7985,71,4246,23,7207,07,6968,45,3039,65,06810,40,81112,33,570
Deposits5,48,4716,40,1057,07,3068,21,7219,46,94510,68,64111,72,95213,35,834
Borrowings1,52,7761,47,9541,42,8731,85,1341,86,3001,96,8121,84,1472,35,271
Investments1,74,9691,56,7342,26,1202,75,5972,88,8153,31,5273,96,1424,45,033
Gross NPAs29,78930,23425,31521,82218,60415,12714,49016,084
Net NPAs11,2769,3606,9945,5123,5593,2473,6854,790
Operating cash flow——13,58333,95126,9026,46149,412−1,330
Key ratios — consolidated
RatioFY19FY20FY21FY22FY23FY24FY25FY26
Growth
Advances growth YoY—15.59.213.519.414.27.818.5
Deposits growth YoY—16.710.516.215.212.99.813.9
Profit growth YoY—-65.2304.997.7-26.5159.56.1-7.3
Profitability
Net interest margin %2.72.93.13.13.43.63.53.2
Cost-to-income %45.442.541.748.846.148.747.147.9
Return on equity %7.02.17.112.08.018.116.012.8
Return on assets %0.60.20.71.20.81.81.71.4
Asset quality
Gross NPA %5.85.13.93.02.21.51.41.3
Net NPA %2.31.61.10.80.40.30.40.4
Credit cost %2.43.52.81.10.30.40.81.2
Credit / deposit %90.289.388.286.189.390.388.792.3
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.