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Company details
130.30
133.60
44.55
142.70
6M Return 85.75%
1Y Return 136.23%
Mkt Cap.(Cr) 14,502.57
Volume 1,818,787
Div Yield 0.36%
OI
-
OI Chg %
-
Volume 1,818,787
- Quick Results Snapshot
- SWOT Analysis
- Financials
- Comparison
- Information
- FAQs
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Quick Results Snapshot
Jammu & Kashmir Bank announced Q3FY24 & 9MFY24 results:
Financial Performance:
- J&K Bank's net profit increased by 35% YoY, reaching Rs 421.08 crore for the quarter ended December 31, 2023.
- For the nine months leading up to this period, net profit jumped by 57% to Rs 1,128.60 crore.
- The net interest income (NII) for the nine months grew by 11% YoY to Rs 3,897.57 crore.
- Quarterly NII rose by 2% YoY to Rs 1,280.44 crore.
- Operating profit for the quarter was reported at Rs 550.54 crore.
Asset Quality:
- Gross NPA Ratio decreased by 241 basis points YoY to 4.84%.
- Net NPA ratio significantly reduced by 125 basis points YoY and stands below 1% at 0.83%.
- Provision coverage ratio improved by 678 basis points annually to 91.61%.
Operational Metrics:
- Net Advances increased by 16% YoY to Rs 89,752.36 crore.
- Deposits saw a 9% growth YoY, reaching Rs 1,28,542.47 crore.
- Overall business grew by 11.61% to Rs 2,18,650 crore.
- The cost-to-income ratio dropped further to 62.36%.
Capital Adequacy:
- The Capital Adequacy Ratio (BASEL III) reached 14.18%.
- Net worth has surpassed Rs 10,000 crore for the first time, currently above Rs 11,000 crore.
Commenting upon the Bank’s asset quality, MD & CEO said, “Asset quality continues to be our star metric and the numbers are fast converging towards the best in the industry. Backed purely by steady recoveries coupled with lower-to-negligible slippages, our GNPA has further reduced and we remain on track to meet our annual market guidance of GNPA around 4.5% while our net NPA is already below 1%. In terms of provisioning too we are very comfortably placed at PCR of above 90% after a very long time.”
In his remarks on operating numbers, MD & CEO Baldev Prakash said, “We have continued our growth momentum by delivering another set of quarterly numbers reflecting progress in bottom line parameters. I am confident that we are well on course to meet our annual growth guidelines.”
“Our bottom line got the boost with major recoveries contributing to provision write-backs despite making additional provisions for NPAs at higher than RBI prescribed rates resulting in negativecreditcosts for the Quarter/9-month period”, he added.
Commenting on growth numbers, MD & CEO said, “Driven by the robust retail growth especially in Housing (21%), SME (21% and mostly driven by services) and credit Card (24%), the Bank’s loan book has gone up 16%. And led by Housing (24%) and Car finance (36%), our Rest-of-India advances portfolio has also grown by 19% quite in line with our ROI focus during the December quarter.”
“Our deposits witnessed a 9% growth YoY against the industry average of 13% while maintaining the industry-best CASA Ratio at above 50%”, he added.
Regarding the capital position, MD & CEO Baldev Prakash stated, “The recent successful QIP - with an aggregate value of Rs 750 crore has sufficiently strengthened our capital position while boosting our perception in the market because of the unprecedented and swift response from the market. We will use this CET1 capital of Rs 750 crore as growth capital to augment our capacity to fund our business plans.”
“With the QIP, our net worth has crossed Rs 10,000 crore for the first time and is currently above Rs 11,000 crore”, MD & CEO added.
View Other Company Results
Jammu and Kashmir Bank Ltd shares SWOT Analysis
- SWOT
- TECHNICALS
- DEALS
- SHAREHOLDING
Strengths (12)
- Strong Momentum: Price above short, medium and long term moving averages
- Company with high TTM EPS Growth
- Strong Annual EPS Growth
Weakness (1)
- Red Flag: High Interest Payments Compared to Earnings
Opportunity (3)
- Highest Recovery from 52 Week Low
- Decrease in Provision in recent results
- Stock with Low PE (PE < = 10)
Threats (0)
Data not found
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Resistance and support
R1 132.8
R2 135.0
R3 137.2
Pivot
130.62
S1 128.5
S2 126.3
S3 124.1
EMA
SMA
129.5
123.1
112.5
95.3
129.1
122.7
114.0
88.7
Delivery and volume
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FINANCIALS
- PROFIT AND LOSS STATEMENT
- BALANCE SHEET
- QUARTERLY RESULT
- RATIO
Sales
Operating Profit
Profit after Tax
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Equity
Reserves and Surplus
Debt
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Sales
Operating Profit
Profit after Tax
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PE
Debt/Equity
P BV
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Jammu and Kashmir Bank Ltd Stocks COMPARISON
| Financials( ₹ in Cr) | HDFC Bank | ICICI Bank | St Bk of India | Kotak Mah. Bank | |
|---|---|---|---|---|---|
| Price | 131.70 | 1,427.20 | 998.15 | 609.55 | 1,764.00 |
| % Change | 0.77 | -1.97 | -0.11 | -1.42 | -1.38 |
| Mcap ₹ Cr | 14,502.57 | 1,083,599.46 | 700,184.86 | 543,999.72 | 350,621.81 |
| Revenue TTM ₹ Cr | 9,355.23 | 170,754.05 | 121,066.81 | 350,844.58 | 42,151.06 |
| Net Profit TTM ₹ Cr | 1,198.59 | 46,148.70 | 34,463.03 | 56,558.43 | 14,780.44 |
| PE TTM | 8.93 | 18.73 | 16.52 | 8.09 | 20.39 |
| 1 Year Return | 136.23 | -15.82 | 14.63 | 2.56 | 0.21 |
| ROCE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| ROE | 15.23 | 17.20 | 17.66 | 18.44 | 14.14 |
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INSIDER & INSTITUIONAL ACTIVITY
Equity Capital: 9,896.32 Cr FV: 1.00
| Period | MF Net Purchase / (sold) | FII Net |
|---|---|---|
| LAST 1M | 12,024.38 | -9,910.41 |
| LAST 3M | 54,563.31 | 52,926.45 |
| LAST 6M | 122,251.11 | 28,774.58 |
| LAST 12M | 174,702.56 | 168,565.32 |
- ANNOUNCEMENT
- CORPORATE ACTION
The Jammu & Kashmir Bank Limited - Analysts/Institutional Investor Meet/Con. Call Updates
Jan 24, 2024 l NSE Announcement
The Jammu & Kashmir Bank Limited - Loss of Share Certificates
Jan 23, 2024 l NSE Announcement
NSE Board Meetings Forthcomming
Jan 20, 2024 l NSE Board Meetings Forthcomming
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| Date | Action Type | Ratio |
|---|---|---|
| Aug 17, 2023 | Dividend | 50 |
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Jammu and Kashmir Bank Ltd Information
- ABOUT COMPANY
- COMPANY INFO
- LISTING INFO
Stock PE (TTM)
8.93
Promoter Holding
59.4%
Book Value
95.3233
ROE
15.23%
Description
Jammu And Kashmir Bank Limited (J & K), a state owned bank was incorporated in 01 October 1938 and commenced its business from 04 July 1939 at in Kashmir (India). As on 31 December 2020, the bank had a distribution network of 956 branches and 1382 ATMs across the country. It offers banking services under the three major divisions as Support services, Depository services and Third party services. The Bank operates mainly into four segments comprising of Treasury, Corporate/wholesale banking, Retail banking and other banking operations. According to the extended Central Laws of the State, Jammu & Kashmir Bank was defined as Government of Company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. RBI declared it as `A` Class Bank in the year of 1976. During the year 1993, the Bank made tie up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations. In the year of 1995, Banking Ombudsman Scheme was launched in June and a loan delivery system was introduced in April, which was used for large borrowers. During the year of 1998, J & K had introduced a new term deposit scheme under the title of Jana Priya Jamma Yojna carrying flexibility in the repayment schedule and in the same year the bank introduced Housing Loan and Education Loan Schemes. The Bank had entered into an agreement with IBA to connect its ATMs through a shared network in the year 1999. To offer Internet Banking and for its e-commerce initiatives, the bank made tie up with Infosys Technologies and also in the same year J&K Bank had entered into agreement with American Express to launch a co-branded credit card. J&K Bank had diversified into non-life insurance and depository business, apart from life Insurance and asset management business in the year of 2000. The Bank had launched Global Access Card (An International Debit Card) in association with Master Card International during the year of 2003. During the year 2004, J&K Bank agreed with ICICI Bank to share the ATM network. In the same year the bank had received the Asian Banking Award 2004 in Manila for its customer convenience programme. Signed MoU with Bajaj Tempo in the year of 2004. During the year 2005-06, J&K opened its branches in Chennai, Kanpur, Agra and Kolkata. Also in the same year introduced new product and services for rural finance. During the period of 2006-2007, the bank introduced various hi-tech and customer friendly products. The Bank and TATA Consultancy Services (TCS), Asia`s largest IT company signed a Memorandum of Understanding (MoU) to signal their intent to work together to create an IT blue-print for the bank. Going forward with its renewed business strategy, J & K Bank had opened its 564th branch at Lassipora, Pulwama, Srinagar in July of the year 2008.During the financial year 2013-14, 92 new branches were established; thereby taking the number of branches to 777 as on 31st March 2014, spread over 20 states and one union territory.During the financial year 2013-14, 187 ATMs, both onsite & offsite, were commissioned thereby taking the number of ATMs to 800 as on 31st March 2014.During the financial year 2014-15, 40 new branches were established; thereby taking the number of branches to 817 as on 31st March 2015, spread over 20 states and one union territory.During the financial year 2014-15, 85 ATMs were commissioned thereby taking the number of ATMs to 885 as on 31st March 2015.During the year under review, bank increased its stake in JKBFSL by 100% by contributing Rs1000 lacs in share capital of the company, increasing its paid up capital to 2000 lacs for the year ended 31st March 2015 as against Rs1000 lacs as on 31st March 2014.During the financial year 2015-16, 40 new branches were established; thereby taking the number of branches to 857 as on 31st March 2016, spread over 20 states and one union territory.During the financial year 2015-16, 121 ATMs were commissioned thereby taking the number of ATMs to 1006 as on 31st March 2016.During the financial year 2016-17, 8 new branches were established; thereby taking the number of branches to 865 as on 31st March 2017, spread over 20 states and one union territory.During the financial year 2016-17, 90 ATMs were commissioned thereby taking the number of ATMs to 1096 as on 31st March.2017.During financial year 2018-19, 36 new branches were established, thereby taking number of branches to 938 as on 31st March 2019, spread over 20 states and one union territory.During the financial year 2018-19, 96 ATMs were commissioned thereby taking the number of ATMs to1294 as on 31st March 2019.During FY 2018-19, the Bank launched a bouquet of new products such as Gold Loan Scheme, Merchant Overdraft scheme and deploying Direct Selling Agents (DSA) in ROI (Rest of India) for housing loans.During the financial year 2019-20, 15 new branches were established, thereby taking the number of branches to 955 (including IARBs)as on 31.03.2020, spread over 17 states and 4 union territories. During the financial year FY19-20, 3 EBUs/USBs were established, 66 ATMs were commissioned thereby taking the number of ATMs to 1354 as on 31.03.2020. During the FY2020, the bank has allotted an preferential allotment of 15,65,92,546 equity shares of Re. 1/- each fully paid up for cash to the Government of Jammu and Kashmir at the issue price of Rs 31.93 per equity share.
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Registered Address
Moulana Azad Road, , Srinagar, Jammu & Kashmir, 190001
| Tel | : | 91-194-2481930-35 Extn 1541-1547 |
| : | sharedeptt_gc:jkbmail.com | |
| Website | : | http://www.jkbank.net |
Registrar
Karvy Computershare Pvt Ltd
| AGM Date (Month) | : | Aug |
| Face Value Equity Shares | : | 1 |
| Market Lot Equity Shares | : | 1 |
| BSE Code | : | 532209 |
| NSE Code | : | J&KBANK |
| Book Closure Date (Month) | : | |
| BSE Group | : | A |
| ISIN | : | INE168A01041 |
FAQ’s on Jammu and Kashmir Bank Ltd Shares
FAQ’s on Jammu and Kashmir Bank Ltd SharesHow can I buy Jammu and Kashmir Bank Ltd share?
You can buy Jammu and Kashmir Bank Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Jammu and Kashmir Bank Ltd Share.
What is the share price of Jammu and Kashmir Bank Ltd share?
Company share prices and volatile and keep changing according to the market conditions. As of Jan 25, 2024 12:14 PM the closing price of Jammu and Kashmir Bank Ltd was ₹ 131.70.
What is the market cap of Jammu and Kashmir Bank Ltd ?
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Jan 25, 2024 12:14 PM, the market cap of Jammu and Kashmir Bank Ltd stood at ₹ 14,502.57.
What is the PE ratio of Jammu and Kashmir Bank Ltd ?
The latest PE ratio of Jammu and Kashmir Bank Ltd as of Jan 25, 2024 12:14 PM is8.93
What is the PB ratio of Jammu and Kashmir Bank Ltd ?
The latest PB ratio of Jammu and Kashmir Bank Ltd as of Jan 25, 2024 12:14 PM is0.73
What is the 52 - week high and low of Jammu and Kashmir Bank Ltd ?
The 52-week high of Jammu and Kashmir Bank Ltd is ₹ 142.70 while the 52-week low is ₹44.55
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I am an expert with in-depth knowledge of financial markets and stock analysis. I have a strong background in analyzing company performance and interpreting financial data. Now, let's dive into the information related to Jammu and Kashmir Bank Ltd.
Company Overview: Jammu and Kashmir Bank Ltd. (J&K Bank) is a state-owned bank incorporated in 1938. It operates in four segments: Treasury, Corporate/wholesale banking, Retail banking, and other banking operations. As of December 2020, it had 956 branches and 1382 ATMs across India. The bank offers various banking services under three major divisions: Support services, Depository services, and Third party services.
Financial Performance (Q3FY24 & 9MFY24):
- Net profit increased by 35% YoY to Rs 421.08 crore for Q3FY24. For 9MFY24, net profit jumped by 57% to Rs 1,128.60 crore.
- Net interest income (NII) for 9 months grew by 11% YoY to Rs 3,897.57 crore. Quarterly NII rose by 2% YoY to Rs 1,280.44 crore.
- Gross NPA Ratio decreased by 241 basis points YoY to 4.84%. Net NPA ratio significantly reduced to 0.83%.
- Provision coverage ratio improved by 678 basis points annually to 91.61%.
Operational Metrics:
- Net advances increased by 16% YoY to Rs 89,752.36 crore.
- Deposits saw a 9% growth YoY, reaching Rs 1,28,542.47 crore.
- Overall business grew by 11.61% to Rs 2,18,650 crore.
- Cost-to-income ratio dropped to 62.36%.
Capital Adequacy:
- Capital Adequacy Ratio (BASEL III) reached 14.18%.
- Net worth has surpassed Rs 10,000 crore for the first time, currently above Rs 11,000 crore.
Market Performance:
- 52W Low: Rs 44.55 | 52W High: Rs 142.70
- 6M Return: 85.75% | 1Y Return: 136.23%
- Market Cap: Rs 14,502.57 crore
- Div Yield: 0.36%
SWOT Analysis:
- Strengths (12): Strong Momentum, High TTM EPS Growth, Strong Annual EPS Growth.
- Weakness (1): High Interest Payments Compared to Earnings.
- Opportunity (3): Highest Recovery from 52 Week Low, Decrease in Provision in recent results, Stock with Low PE (PE <= 10).
Technical Analysis:
- Resistance and Support Levels: R1 132.8, R2 135.0, R3 137.2, Pivot 130.62, S1 128.5, S2 126.3, S3 124.1.
- Moving Averages: EMA (20 Day) 129.5, SMA (50 Day) 123.1, SMA (100 Day) 112.5, SMA (200 Day) 95.3.
Comparison with Other Banks: Financials (₹ in Cr): HDFC Bank, ICICI Bank, St Bk of India, Kotak Mah. Bank.
- Price: Rs 131.70 | Mcap: Rs 14,502.57 Cr | Revenue TTM: Rs 9,355.23 Cr | Net Profit TTM: Rs 1,198.59 Cr.
Insider & Institutional Activity:
- Last 1M: MF Net Purchase 12,024.38, FII Net Sold -9,910.41.
Corporate Actions:
- Dividend on Aug 17, 2023: Ratio 50.
Stock Information:
- Stock PE (TTM): 8.93 | Promoter Holding: 59.4% | Book Value: Rs 95.3233 | ROE: 15.23%.
Recent Announcements:
- Analysts/Institutional Investor Meet/Con. Call Updates on Jan 24, 2024.
- Loss of Share Certificates on Jan 23, 2024.
- NSE Board Meetings Forthcoming on Jan 20, 2024.
This comprehensive overview should provide you with a detailed understanding of Jammu and Kashmir Bank Ltd's current status and performance.
