Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Oct
Source: Bse
Canara Bank (CANBK)
Large CapFinancial Services stocks · Large cap · NSE
Canara Bank is a public sector bank in India. For Q2 FY27, the bank reported robust growth across global business, deposits, and advances, achieving record net profit and significant improvement in asset quality. Management surpassed most annual guidance parameters.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result14 Oct, 12:07 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
41NeutralSMA20 -4.0% / mo · MACD + · near 52W low
Stock trend: 40
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CANBKD candles · FIT view-13.4%Latest close ₹122.00 on 2026-10-19
Bar
+2.3%
RSI
51
MACD hist
0.34
52W pos
12%
2026-10-19O ₹119.20H ₹122.78L ₹118.94C ₹122.00Vol 3.1Cr sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CANBKNifty Financial ServicesNifty 500
- CANBK
- -5.3%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +0.3 pp
Chart stats
19 Oct 2026- From 52W high
- -25.1%
- 52W range position
- 12%
- ATR (14)
- 2.7%
- Volume vs 20D
- 1.67x
- Avg traded value
- ₹236 Cr
- 20D price channel
- ₹116.5 - ₹126.7
₹162.9
₹116.5 - ₹162.9
₹3.3
Latest completed session
20-session average
35.6% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · UNDERVALUED72
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average50
Revenue +27.6% · PAT +5.8% YoY
Technical
Neutral41
Price trend and sector-relative-strength timing.
Valuation
Legacy model+78.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence72
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Average · 50/100Rev +28% YoY · PAT +6% YoY · +24% QoQ
Filed 14 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹40,938.8 Cr | +27.6% | +24.2% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹5,182 Cr | +5.8% | +0.0% |
| PAT margin | 12.7% | -261 bps | -306 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 5.56
- P/B
- 0.89
- EV/EBITDA
- —
- Market Cap
- 113473.00Cr
Profitability
- ROE
- 16.10%
- ROCE
- 6.52%
- ROA
- 1.00%
- Dividend Y
- 3.37%
Growth (CAGR)
- Revenue 5Y
- 12.00%
- EPS 5Y
- 44.00%
- Revenue 3Y
- 14.00%
- EPS 3Y
- 18.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- —
- Altman Z
- 1.67
- Book Value
- 141.00
Cash Flow
- FCF Yield
- 4.61%
- FCF Positive Y
- 8/5
- OCF
- 7942.00 Cr
- EPS TTM
- 22.47
Shareholding
- Promoter Hold
- 62.93%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 17%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3.0-93.2% vs prev
Net Profit
₹ CrLatest: 19.7k+11.4% vs prev
Return on Equity
%Latest: 16.8-0.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 51. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~4.2% over last month) — short-term momentum negative.
- RSI(14) at 51 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
47
RS percentile
Stage 4 Downtrend
1M return
-1.4%
3M return
-5.3%
6M return
-16.0%
1Y return
-6.1%
RS 1D
+8
RS 20D
+7
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is 5.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.6%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 106.47+4.21%
RS vs Nifty 500106
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 72 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation29/30
Growth16/25
Quality8/20
Balance Sheet8/15
Cash Flow7/10
Piotroski
5/9 (+3)
Penalties
1
Raw sum
72
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
72/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 4.6%.
- Fair-value margin of safety is positive at 78.7%.
- Valuation contributes 29/30 to the score.
Main drags
- Altman Z is 1.7, in distress territory.
- Quality is weaker at 8/20; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Bank valuation: P/B adjusted for ROE and asset quality
Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.
Primary lens
Price/book and ROE/ROA, not trailing PE alone.
Secondary checks
Capital adequacy, credit cost, NPA trend, deposit franchise.
Main risk check
Low P/B can be a trap if asset quality or credit cost is worsening.
PE
5.6
PB
0.9
EV/EBITDA
—
ROE
16.1%
ROCE
6.5%
FCF Yield
4.6%
Debt/Equity
0.1
MoS
+78.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
72
Previous: 72
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+78.7%
Previous: +78.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
73
73
73
73
73
72
72
72
72
72
72
72
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹266.99
+54.3% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹572.99
+78.7% MoS
PEG
0.17
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BANKBARODA
Large
Bank of Baroda
Banking
match 163
70
5.4
12.7%
+73%
UNDERVALUED
UNIONBANK
Large
Union Bank of India
Banking
match 162
63
6.4
15.7%
+75%
UNDERVALUED
PNB
Large
Punjab National Bank
Banking
match 162
67
6.2
13.0%
+75%
UNDERVALUED
BANKINDIA
Large
Bank of India
Banking
match 159
72
5.0
12.4%
+79%
UNDERVALUED
MAHABANK
Large
Bank of Maharashtra
Banking
match 159
64
8.5
22.6%
+68%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-19T07:16:34.149Z
Management commentary snapshot
Canara Bank reports record Q2 FY27 net profit of ₹5,175 crore, driven by 20.39% YoY NII growth and 19.46% YoY advances growth, while significantly improving asset quality with GNPA at 1.33% and NNPA at 0.30%.
Canara Bank delivered strong Q2 FY27 results, exceeding most annual guidance targets with broad-based credit growth and improved asset quality. While treasury losses and potential ECL provisioning are noted, management's confidence in sustaining NIM and mitigating risks supports the current thesis.
Current business mix
Gold Loan Mix by Type
Latest issuer-disclosed distribution across 2 reported categories.
Agriculture Gold Loan61.7%
Non-Agriculture Gold Loan38.3%
Growth engines
Retail Credit Growth
Retail Credit grew by 31.61% YoY, with Housing Loan at 17.35% and Vehicle Loan at 25.50% YoY.
MSME Advances
MSME advances showed a very good growth at 15.49% YoY.
Broad-based Advances Growth
Advances growth was broad-based, with RAM and large corporate segments contributing equally.
Corporate Loan Pipeline
₹47,000 crore in hot leads and already sanctioned but not disbursed loans, primarily from green energy, battery storage, data centers, and infrastructure.
Tailwinds
Festive Season Demand
Anticipated widespread consumption and underwriting under retail lending during the festive season.
Resilient Economic Growth
RBI revised country's growth projections from 6.7% to 7.1%, indicating a robust and resilient economy.
Digital Advancements
Heavy investment in digital advancements like QR code, school fee collection modules, and internet payment gateways.
Headwinds
Treasury Operations Losses
Pain in treasury operations due to hardening of yield, resulting in a loss this year compared to handsome income last year.
Lower Spread on FCNR(B) Leverage
The $3.2 billion FCNR(B) leveraged deposits have a lower spread of 40-50 basis points, impacting NIM.
Drought Situation
3 states declared drought-affected with an exposure of ₹13,900 crore, though restructuring through SLBC is expected.
Risk radar
ECL Provisioning Impact
Estimated one-time ECL provision of ₹12,000-₹15,000 crore, including HTM impact, which could be spread over 2-5 years.
Competition in Gold Loans
Increasing competition from NBFCs in Gold loans, though management believes their ecosystem and pricing are competitive.
Yield Hardening
Continued hardening of bond yields could further impact treasury and potentially increase ECL provisioning estimates.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
Management explicitly cited YoY growth for most key financial and operational metrics, including global business, deposits, advances, NII, net profit, and various credit segments. QoQ comparisons were used for specific yield changes.
Sector KPIs management disclosed
Total Global Business
₹30,72,000 crores, 15.88% YoY growth.
Global Advances
₹13,75,000 crores, 19.46% YoY growth.
Global Deposits
₹16,97,000 crores, 13.13% YoY growth.
Net Interest Income (NII)
₹11,000+ crores, 20.39% YoY growth (ever highest).
Management forward view
NIM Sustainability
Management expects to sustain NIM at 2.55% due to repricing of 53% of the Repo-linked book and growth in higher-margin retail lending.
Guidance Approach
No plan to revise annual guidance; focus is on continuously bettering existing targets and ensuring sustainable growth.
ECL Provisioning Strategy
Will decide on the phasing of the one-time ECL provision, aiming to cover it within 2 years without significantly denting credit cost or ROA, given strong profit generation.
Asset Quality Outlook
No perceived stress in the book, with total SMA (all ticket sizes) at 2.42% and slippages contained at 0.15% last quarter.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| NIM (Quarterly) | 2.55% | Sustainability of NIM given the lower spread on FCNR(B) leveraged deposits and ongoing deposit repricing dynamics. |
| ECL Provisioning | Estimated ₹12,000-₹15,000 crore | Final quantum of the one-time ECL provision and the chosen phasing strategy (e.g., 2 years vs. 5 years) and its impact on profitability. |
| Asset Quality (GNPA/NNPA) | 1.33%/0.30% | Continued improvement in asset quality and the actual impact of the drought-affected areas on recoveries and slippages. |
| Credit Growth (Advances) | 19.46% YoY | Sustained broad-based growth, particularly the conversion of the ₹47,000 crore corporate pipeline into disbursements. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
72Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 69th percentile of the scored universe and 81st percentile within Financial Services. Main check: financial discipline is weak at 56/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
120 docs text-extracted · 37 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
69th percentile
overall median 67 · Financial Services: 81st pctile, median 62 · Large: 46th pctile, median 73
Evidence depth
Financial-only
120 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
62
acceptable · leverage and solvency
Discipline
56
watch · capital discipline
Results
79
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 62.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 4.6%.
- ▸8 years of positive FCF.
Trust risks
- ▸Altman Z is 1.67.
- ▸ROCE is low at 6.5%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Canara Bank
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 14 Oct - Canara Bank reported Q2/H1 FY2026 results; net profit rose 8.4% to ₹5,175 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 1 Oct - Shri Shambhu Lal takes HR Wing Head charge; Shri Barun Singh Thakur promoted CGM, effective 01.10.2026.
Source: Bse
Credit rating
Credit Rating 17 Sep - Fitch confirmed Canara Bank’s US$3 billion MTN programme ratings at BBB- and BB(xgs).
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Sep - Special Window for Transfer and Dematerialisation of Physical Securities - Newspaper Publication
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 10 Aug - RBI imposed Rs.1,49,450 penalty on Canara Bank for remittance and counterfeit note discrepancies on 10.08.2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 6 Jun - RBI imposed Rs.2,49,658 penalty on Canara Bank for delayed currency chest reporting on 06.06.2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 May
Source: Bse
Announcement
Business Responsibility and Sustainability Reporting (BRSR) 27 May - Canara Bank filed its Business Responsibility and Sustainability Report for FY 2025-26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 May - Information to Shareholders regarding TDS on Dividend- Newspaper Publication
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 May
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.