NSE: KARURVYSYA · BSE: 590003
KARUR VYSYA BANK LTD
Operates as a private-sector bank that takes deposits and lends across retail, corporate and treasury operations. Retail banking (excluding digital) accounts for 65.6% of segment revenue at Rs 5,567.23 crore for the period to December 2024, driven by retail loans, deposits and small-business advances; gold loans alone are about 30% of the advances book. Corporate and wholesale banking contributes 17.9% (Rs 1,515.3 crore) from lending to corporate clients, and together retail, agriculture and MSME (RAM) accounts for 86% of advances with corporate at 14%. Treasury brings in 15.2% (Rs 1,289.47 crore) from the bank's investment portfolio. The bank runs 901 branches across 20 states and 2 union territories with 9,883 employees; as of June 2026, total business stood at Rs 2,27,267 crore (advances Rs 1,04,680 crore, deposits Rs 1,22,587 crore, CASA Rs 33,777 crore). Asset quality is clean (gross NPA 0.74%, net NPA 0.19%, capital adequacy 18.61%) and net interest margin held at 4.26% in Q1 FY27; the bank is rated AA with stable outlook by ICRA. Fifty new branches are planned for FY27 versus 13 added in FY26, and the largest input cost is interest paid on deposits, with term-deposit repricing flagged as pressure even as CASA mobilisation is being pushed. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other Retail Banking (66%), Corporate/Wholesale Banking (18%), Treasury (15%), Other Banking Operations (1%), Retail Banking Digital (0%). Private-sector bank with a retail-heavy, gold-loan-skewed advances book and a southern India franchise
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | — | — | — |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | 1,605 | 1,942 | 2,510 |
| EPS, as reported (₹) | 19.90 | 24.13 | 25.98 |
| ROE % · ROCE % | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — |
| Cash from operations | 2,954 | 4,487 | (554) |
| 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 | 636 | 668 | 674 | 687 | 743 | 901 | 989 | 1,005 |
| Net profit | 474 | 496 | 513 | 521 | 574 | 690 | 725 | 756 |
| EPS (₹) | 5.89 | 6.16 | 6.38 | 6.48 | 5.94 | 7.14 | 7.50 | 7.82 |
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) | 12.3 | 12.3 | 11 of 20 | 47% |
| Profit growth | 44.9 | 29.5 | 4 of 20 | 84% |
| Market cap | 33852 | 41392 | 11 of 20 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Karur Vysya Bank to open eight branches on October 30 | business updates | low | — | — |
| 21 Oct 2026 · Karur Vysya Bank cuts MCLR by 20 bps across all tenors | business updates | medium | — | — |
| 19 Oct 2026 · KVB Q2 FY27 Earnings Call Transcript Filed | investor communications | medium | — | — |
| 17 Oct 2026 · Q2 FY27 earnings call transcript filed with raised NIM guidance | investor communications | medium | — | — |
| 16 Oct 2026 · KVB publishes Q2 FY27 unaudited results in newspapers | compliance | minimal | — | — |
| 16 Oct 2026 · COO Chandrasekaran demits office on tenure end; Ramshankar R takes charge as COO from Oct 16 | management changes | high | — | — |
| 16 Oct 2026 · KVB posts audio recording of Q2 FY26 results conference call | investor communications | low | — | — |
| 15 Oct 2026 · Karur Vysya Bank COO completes tenure, internal successor appointed | management changes | high | — | — |
| 15 Oct 2026 · Audio recording link shared for Q2 FY27 results call | investor communications | medium | — | — |
| 15 Oct 2026 · KVB allots 14,442 shares to senior management under ESOS 2018 | capital market events | low | — | — |
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.