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Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
Kotak Mahindra Bank Limited provides a range of banking and financial services to corporate and individual customers in India. It operates through Corporate/Wholesale Banking; Retail Banking; Treasury, BMU and Corporate Centre; Vehicle Financing; Other Lending Activities; Broking; Advisory and Transactional Services; Asset Management; and Insurance segments. The company offers savings, current, retail institution, corporate, private banking, and salary accounts; NRE and NRO fixed deposits and foreign currency nonresident deposits; home, personal, business, payday, gold, education, two-wheeler, commercial vehicle and equipment, working capital, home improvement, car, business, and crop loans, as well as loans against securities and properties; smart EMI services; bill payment, fund transfer, FASTag, taxes, loan/utility payment, forex, and remittance; and forex, credit, and debit card services. It also provides life, health, vehicle, travel, car, and two-wheeler insurance; domestic and international trade, international export and import, bank guarantee, letter of credit, and export credit; digital banking services; and cash management, trade and supply chain finance, trade services, corporate accounts, and sector based solutions. In addition, the company offers investment products, such as demat accounts, Government schemes, mutual funds, application supported by blocked amount facility, deposits, and portfolio investment schemes; and wire transfer, click2remit, and remittance exchange house services. Kotak Mahindra Bank Limited was incorporated in 1985 and is based in Mumbai, India.
How the price compares to earnings, assets and cash generation.
You are paying 20.4 years of current profit for each share. The earnings yield is 4.9%. The tracked Banking & Finance median is 20.4× (n=15), so this trades cheaper than its peers.
The market values the company at 2.3× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
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Pays 0.16% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Based on the next-year earnings estimate — 17.8× against 20.4× trailing. A forward P/E well below trailing is pricing in an earnings jump; treat the forecast with caution.
You pay 5.8× annual sales. Useful when earnings are depressed or negative and P/E breaks down — but a high multiple needs high margins to justify it.
Returns on capital and margins, the numerical shadow of a moat.
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Keeps ₹34.8 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Keeps ₹0.0 of gross profit per ₹100 of sales, before operating costs. A high, stable gross margin is the clearest single sign of pricing power.
Leverage and liquidity. This is where fragility shows up first.
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Against cash of ₹72932.22 Cr. Net debt is what matters, not gross borrowings.
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Revenue and earnings momentum, and how the two compare.
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
Profits are growing faster than sales — margins are expanding, which is the sign of genuine operating leverage.
EBITDA of — and operating cash flow of —.
P/E divided by expected growth. Only as reliable as that growth forecast, which is usually optimistic.
The figures quoted per share, and how much profit is handed back to owners.
₹20.46 of profit earned per share over the last twelve months. Price divided by this is the trailing P/E.
The accounting net worth behind each share is ₹182.20; price-to-book compares the market price with this.
Pays out 2% of profit as dividends and retains the rest. Above roughly 85% leaves little to reinvest and is hard to sustain through a weak year.
Market cap plus net debt — closer to what an acquirer actually pays. Against a market cap of ₹4,16,170 Cr.
Nine yes/no tests of profitability, funding and efficiency across the last two years; higher is stronger. A test is dropped only where the data is missing, so the score is out of 7.
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹75788.53 Cr | ₹75984.46 Cr | ₹69669.60 Cr | ₹51857.25 Cr |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating expenses | ₹46142.07 Cr | ₹43726.93 Cr | ₹44311.18 Cr | ₹32079.59 Cr |
| Operating income | — | — | — | — |
| Interest expense | ₹29619.98 Cr | ₹28270.91 Cr | ₹22567.24 Cr | ₹14411.13 Cr |
| Pre-tax income | ₹25992.72 Cr | ₹28989.02 Cr | ₹23863.38 Cr | ₹19646.19 Cr |
| Tax | ₹6812.10 Cr | ₹7043.29 Cr | ₹5886.55 Cr | ₹4865.74 Cr |
| Net profit | ₹19287.89 Cr | ₹22125.99 Cr | ₹18213.21 Cr | ₹14925.01 Cr |