NSE: J&KBANK · BSE: 532209
J & K BANK LTD.
A private sector commercial bank that takes deposits and lends to retail and corporate customers, with its home franchise in Jammu & Kashmir and Ladakh. For the YTD period ended December 2024, retail banking accounted for 59.4% of segment revenue on a total segment revenue base of Rs 11,096.46 crore, corporate/wholesale banking 18.3%, treasury operations 21.6% and other banking the remainder. Retail spreads loans to individuals and small businesses, with the RAM book (Retail, Agriculture, MSME) making up over two-thirds of the loan book, while corporate/wholesale lending carries the highest EBIT margin in the segment mix at 62.4%. Treasury earns from the investment book and government securities. Net profit for FY26 was Rs 2,367.58 crore, up 13.485% year-on-year, with a five-year profit CAGR of 40.347%. The bank is diversifying beyond its home market and plans to add 50-70 branches in Rest of India over FY27-FY28. Recent filings show Corporate Agency Agreements signed with SBI Life and HDFC Life to sell insurance products through its branch network, and a planned sale of a 0.50% stake in PNB MetLife for about Rs 120.10 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Other Retail Banking (59%), Treasury Operations (22%), Corporate/Wholesale Banking (18%), Other Banking Business (1%), Digital Retail Banking (0%). Private-sector commercial bank with a dominant regional franchise in J&K and Ladakh, diversifying into Rest of India.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | 495 | 1,181 | 1,771 | 2,082 | 2,360 |
| EPS, as reported (₹) | 5.96 | 12.25 | 16.84 | 18.91 | 21.42 |
| ROE % · ROCE % | — · — | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (1,568) | (407) | (924) | 2,723 | (1,707) |
| Capex | — | — | — | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | 757 | 758 | 810 | 659 | 635 | 807 | 862 | 621 |
| Net profit | 553 | 532 | 585 | 486 | 495 | 588 | 799 | 425 |
| EPS (₹) | 5.02 | 4.80 | 5.28 | 4.40 | 4.49 | 5.28 | 7.25 | 3.89 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HDFC BANK LTD | 10,55,451 | 13.3 | — | — | — | — | — | — |
| ICICI BANK LTD. | 9,88,387 | 17.6 | — | — | — | — | — | — |
| KOTAK MAHINDRA BANK LTD | 4,39,694 | 11.5 | — | — | — | — | — | — |
| AXIS BANK LIMITED | 3,78,522 | 13.6 | — | — | — | — | — | — |
| FEDERAL BANK LTD | 85,395 | 18.2 | — | — | — | — | — | — |
| IDBI BANK LIMITED | 83,342 | 8.9 | — | — | — | — | — | — |
| INDUSIND BANK LIMITED | 66,304 | 50.1 | — | — | — | — | — | — |
| IDFC FIRST BANK LIMITED | 63,344 | 28.3 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.8 | 12.3 | 1 of 20 | 100% |
| Profit growth | (12.5) | 29.5 | 20 of 20 | 0% |
| Market cap | 13425 | 41392 | 15 of 20 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · J&K Bank Q2 FY27 profit up 29% from Q1, guides margin improvement | investor communications | medium | — | — |
| 23 Oct 2026 · J&K Bank publishes reviewed September 2026 results | compliance | minimal | — | — |
| 22 Oct 2026 · September-quarter profit rises; FY27 deposit target raised | investor communications | medium | — | — |
| 22 Oct 2026 · J&K Bank quarterly profit rises 10.6 percent; bad loans fall, margin drops | investor communications | medium | — | — |
| 22 Oct 2026 · Q2 profit rises 28.8% as asset quality improves | compliance | low | — | — |
| 22 Oct 2026 · J&K Bank discloses related party transactions for H1 FY27, total Rs 82.51 Cr | compliance | low | — | — |
| 22 Oct 2026 · J&K Bank confirms no deviation in use of raised funds for Q2 FY27 | compliance | minimal | — | — |
| 22 Oct 2026 · September quarter profit falls 18 percent; half-year profit nearly flat | results | high | — | — |
| 22 Oct 2026 · J&K Bank Q2/H1 FY27: Total income up 25%, PAT flat at 970 cr | results | high | — | — |
| 22 Oct 2026 · J&K Bank Q2 FY27 PAT up 49% YoY to Rs 546 cr; NPAs improve | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.