Kotak Mahindra Bank (the Bank) is the flagship company of the Kotak Group. It is one amongst the fastest growing banks and the most admired financial institutions in India. The principal business activities of the Bank are organised into consumer banking commercial banking corporate banking treasury and other financial services. As of 31 December 2020 the Bank had 1603 branches and 2573 ATMs across the country.
The Bank along with its subsidiaries offers a comprehensive range of financial products and services to its customers. The key businesses are commercial banking investment banking stock broking vehicle finance advisory services asset management life insurance and general insurance, and offers complete financial solutions for infinite needs of all individual & non-individual customers depending on the customer’s need – delivered through a state of the art technology platform. The Bank has posted its Q4FY22 and year ended financial results today, the details are as below :
(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):
The company has reported, a consolidated Total Income of ₹16,794.19 crore in the quarter ended on March 31, 2022 as against ₹15,725.03 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 6.80%.
The company has posted a consolidated Net Profit of ₹3,891.82 crore in the quarter ended on March 31, 2022 as against ₹2,589.32 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 51.13%.
The status of the EPS of the company stood at ₹19.40 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹12.86, up by 50.86%.
|₹*||Mar 31, 2022 (Q4FY22)||Dec 31, 21 (Q3FY22)||Mar 31, 21 (Q4FY21)|
|Total Tax /(credit)||1228.56||1073.10||810.28|
|PAT /(Loss) [to the owners]||3,891.82||3402.74||2,589.32|
(II) Audited Consolidated Financial Result details for the Year Ended :
The company has reported, a consolidated Total Income of ₹58,882.82 crore in the financial year ended on March 31, 2022 as against ₹56,296.47 crore for the financial year ended on Mar 31, 2021, increased by 4.59%.
The company has posted a consolidated Net Profit of ₹12,089.39 crore in the financial year ended on March 31, 2022 as against ₹9,990.20 crore for the financial year ended on March 31, 2021. The PAT surges up by 20.49%.
The status of the EPS of the company stood at ₹60.73 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹50.49, up by 20.28%.
|₹*||Mar 31, 2022 (FY22)||Mar 31, 2021 (FY21)|
|Total Tax /(credit)||4016.43||3265.44|
(III) Key Highlights about the Performance :
- The Embedded Value (IEV methodology) of Kotak Mahindra Life Insurance as on March 31, 2022 was
₹10,679 crore (₹9,869 crore as at March 31, 2021). The Value of New Business (VNB) for FY22 was
₹895 crore (₹691 crore for FY21) and the New Business (VNB) Margin for FY22 was at 31.1% (28.6% for FY21).
- At the consolidated level, the Return on Assets (ROA) was at 2.36% for FY22 (2.16% for FY21).
- Consolidated Capital adequacy ratio as per Basel III as at March 31, 2022 was at 23.7 % and Tier-I ratio was at 22.8 %.
- Consolidated Capital and Reserves & Surplus as at March 31, 2022 was
₹97,134 crore (₹84,836 crore as at March 31, 2021). The Book Value per Share was
₹487. Consolidated Customer Assets grew by 22% from₹2,68,130 crore as on March 31, 2021 to
₹327,074 crore as at March 31, 2022.
Total assets managed / advised by the Group as at March 31, 2022 were₹382,504 crore up 18% over ₹323,762 crore as at March 31, 2021
- Net Interest Income (NII) for Q4FY22 increased to
₹4,521 crore, from₹3,843 crore in Q4FY21, up by 18% and for FY22 increased to
₹16,818 crore, from₹15,340 crore in FY21, up by 10%.
- Net Interest Margin (NIM) was at 4.78 % for Q4FY22.
- Net Customer additions in Q4FY22 was 2.0 mn against that of 1.1 mn in Q4FY21. Customers as at March 31, 2022 were 32.7 mn (26.0mn as at March 31, 2021).
- Average Standalone Current deposits grew to
₹49,776 crore for FY22 compared to₹39,481 crore for FY21 up 26%. Average Fixed Rate Savings deposits was at
₹110,988 crore as at March 31, 2022 up 11% (March 31, 2021₹99,907 crore). Average TD Sweep up 16% from
₹20,074 crore for FY21 to₹23,313 crore for FY22.
- Customer Assets, which includes Advances and Credit substitutes, increased by 23% to
₹292,481 crore as at March 31, 2022 from₹2,38,838 crore as at March 31, 2021 (
₹274,569 crore as at December 31, 2021). Advances increased by 21% to₹2,71,254 crore as at March 31, 2022 from
₹223,670 crore as at March 31, 2021 (₹252,935 crore as at December 31, 2021). Advances grew 7.2% (not annualised) during Q4FY22.
- CASA ratio as at March 31, 2022 stood at 60.7%.
(IV) Asset Quality :
As at March 31, 2022, Standalone GNPA was at 2.34% & Standalone NNPA was 0.64%. Credit cost on advances for Q4FY22 was 27 bps (annualised) (excluding reversal of COVID provision). The provision coverage ratio stood at 73.2%. Total provisions (incl specific, standard, COVID-19 related etc.) held as on March 31, 2022 was at ₹6,710 cr. The Standalone Capital adequacy ratio of the Bank, as per Basel III, as at March 31, 2022 was 22.7% and Tier-I ratio was 21.7%.
|Gross NPA ₹*||7,334.05||7,993.34||8,276.29|
|Gross NPA %||2.37||2.75||3.22|
|Net NPA ₹*||2,148.72||2,496.75||3,105.50|
|Net NPA %||0.71||0.87||1.23|
Shares of Kotak Mahindra Bank Ltd was last traded in BSE at ₹1773.70 as compared to the previous close of ₹1788.95. The total number of shares traded during the day was 124607 in over 4842 trades.
The stock last hit in BSE,
- Intraday High of ₹ 1823.45
- Intraday low of ₹ 1768.30