Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Oct
Source: Bse
The Federal Bank Limited (FEDERALBNK)
Mid CapFinancial Services stocks · Mid cap · NSE
The Federal Bank Limited is an Indian private sector bank offering a range of banking and financial services. It operates across retail, corporate, and institutional segments, supported by subsidiaries in financial services and operational support. The bank focuses on digital adoption and expanding its pan-India footprint.
Data qualityVerify one data layerQuote updated 19 Oct, 03:31 pm ISTPost-result recalculation pendingDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result16 Oct, 01:20 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
52NeutralSMA20 -5.3% / mo · MACD + · near 52W high
Stock trend: 58
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
FEDERALBNKD candles · FIT view+19.1%Latest close ₹348.85 on 2026-10-19
Bar
+4.1%
RSI
64
MACD hist
3.20
52W pos
84%
2026-10-19O ₹335.00H ₹355.50L ₹321.35C ₹348.85Vol 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
FEDERALBNKNifty Financial ServicesNifty 500
- FEDERALBNK
- -0.5%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +5.0 pp
Chart stats
19 Oct 2026- From 52W high
- -6.1%
- 52W range position
- 86%
- ATR (14)
- 2.9%
- Volume vs 20D
- 3.91x
- Avg traded value
- ₹290 Cr
- 20D price channel
- ₹313.8 - ₹355.5
₹371.7
₹206.5 - ₹371.7
₹10.1
Latest completed session
20-session average
25.4% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST36
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent85
Revenue +37.2% · PAT +52.9% YoY
Technical
Neutral52
Price trend and sector-relative-strength timing.
Valuation
Legacy model+28.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
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
Excellent · 85/100Rev +37% YoY · PAT +53% YoY · +26% QoQ · operating leverage
Filed 16 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹9,903.4 Cr | +37.2% | +26.0% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹1,564.1 Cr | +52.9% | +20.1% |
| PAT margin | 15.8% | +161 bps | -77 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 17.70
- P/B
- 2.07
- EV/EBITDA
- —
- Market Cap
- 82839.00Cr
Profitability
- ROE
- 11.60%
- ROCE
- 6.39%
- ROA
- 1.20%
- Dividend Y
- 0.36%
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 21.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 11.00%
Balance Sheet
- Debt/Equity
- 0.11
- Interest Coverage
- —
- Altman Z
- 1.94
- Book Value
- 162.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- 4349.00 Cr
- EPS TTM
- 19.00
Shareholding
- Promoter Hold
- —
- Promoter Pledge
- 0.00%
- Momentum 52W
- 77%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 3.0-85.7% vs prev
Net Profit
₹ CrLatest: 5,388+20.0% vs prev
Return on Equity
%Latest: 13.5+3.5% 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 uptrend intact. RSI 64. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~5.6% over last month) — short-term momentum negative.
- RSI(14) at 64 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 6% off 52W high · 54% above 52W low.
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
91
RS percentile
Stage 2 UptrendRecent S2
1M return
+4.8%
3M return
-0.5%
6M return
+17.7%
1Y return
+48.0%
RS 1D
+2
RS 20D
-1
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is 9.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +1.9%.
50-DMA
price above
200-DMA
price above
S2 entered
09 Oct 2026
S2 age
7 trading sessions
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 187.4+4.28%
RS vs Nifty 500187
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation10/30
Growth13/25
Quality2/20
Balance Sheet4/15
Cash Flow4/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
36
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
36/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 28.0%.
- Growth contributes 13/25 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Quality is weaker at 2/20; verify the latest quarterly trend.
- Balance sheet is weaker at 4/15; verify the latest quarterly trend.
- Valuation is weaker at 10/30; 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
17.7
PB
2.1
EV/EBITDA
—
ROE
11.6%
ROCE
6.4%
FCF Yield
—
Debt/Equity
0.1
MoS
+28.0%
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
36
Previous: 36
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+28.0%
Previous: +28.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
36
36
36
36
36
36
36
36
36
36
36
36
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
₹263.16
-32.6% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹484.5
+28.0% MoS
PEG
1.04
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
IDFCFIRSTB
Mid
IDFC First Bank Limited
Banking
match 165
25
29.6
3.8%
-9%
OVERVALUED
YESBANK
Mid
Yes Bank Limited
Banking
match 163
55
14.6
7.1%
+44%
FAIR VALUE
IDBI
Small
IDBI Bank Limited
Banking
match 159
65
9.7
14.1%
+63%
UNDERVALUED
RBLBANK
Small
RBL Bank Limited
Banking
match 158
26
48.7
5.4%
+1%
OVERVALUED
INDUSINDBK
Large
IndusInd Bank Limited
Banking
match 158
10
51.2
1.4%
-2121%
OVERVALUED
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 2026-07-18T07:19:56.605Z
Management commentary snapshot
Federal Bank reports strong Q1 FY27 YoY profit growth and improved asset quality, driven by NII and fee income, despite some sequential moderation in key metrics.
The bank delivered robust YoY growth in core earnings and improved asset quality ratios, with decadal best GNPA/NNPA. However, QoQ performance shows some moderation in NII and a decline in fee income, suggesting a need to monitor sequential momentum and granular deposit growth.
Current business mix
Net Customer Assets mix (Jun-26)
Latest issuer-disclosed distribution across 3 reported categories.
Retail Book53.0%
Corporate36.0%
Commercial11.0%
Growth engines
Gold Loans
Gold loans grew by 33% YoY and 8.2% QoQ, driving retail growth towards secured, higher-yielding assets.
Commercial Banking (CoB)
CoB book grew by 25% YoY and 5.2% QoQ, now representing 23% of the non-retail book.
Corporate & Institutional Banking (CIB)
CIB book grew by 14% YoY and 4.3% QoQ, with CIB (excl. credit substitutes) growing 16% YoY.
Credit Cards
Credit Cards grew by 36% YoY and 10% QoQ, with the bank ranking 9th in credit card spends among Pvt Sec Banks.
Capacity and execution
Banking Outlets
Total banking outlets increased to 1,650 in Jun-26 from 1,591 in Mar-26.
ATMs/Recyclers
Total ATMs/Recyclers increased to 2,135 in Jun-26 from 2,094 in Mar-26.
Unified Account Opening Solution
Unified Account Opening Solution rolled out across all branches, enabling faster Aadhaar eKYC-based onboarding.
Tailwinds
Diversified Advances Growth
Advances growth is diversified across Gold loans (8.2% QoQ), CoB (5.2% QoQ), CIB (4.3% QoQ), and Retail Book (2.6% QoQ).
Sustained Profitability Improvement
RoA improved to 1.22% (Q1 FY27) from 1.00% (Q1 FY26) and RoE to 12.01% (Q1 FY27) from 10.30% (Q1 FY26).
Digital Adoption
Digital transactions (Retail + Corporate) reached 94.46%, with 790 APIs made available and 392 RPA processes running.
Headwinds
Sequential Fee Income Decline
Fee income decreased by 3% QoQ to ₹957 Cr, despite a 22% YoY increase.
Sequential Micro Advances Decline
Micro Advances portfolio decreased by 2% QoQ to ₹3,761 Cr.
CASA Ratio Decline QoQ
CASA Ratio declined by 71 bps QoQ to 32.23%, though average CASA grew 6% QoQ.
Risk radar
Slippage Ratio
Slippage ratio was 61 bps in Q1 FY27, a significant improvement YoY (111 bps in Q1 FY26) but still a key metric for asset quality.
Top Borrower Concentration
Top 20 borrowers constitute 7.43% of the portfolio, indicating some concentration risk.
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 BOTH
YoY comparison is crucial for assessing overall growth in profitability, balance sheet, and asset quality trends. QoQ comparison is important for monitoring sequential momentum in advances, deposits, and fee income, especially given some quarterly fluctuations.
Sector KPIs management disclosed
Net Advances Growth
Net Advances grew by 15% YoY and 1% QoQ to ₹2,77,498 Cr.
Net Interest Margin (NIM)
NIM stood at 3.33% in Q1 FY27, up from 2.94% in Q1 FY26, but down from 3.74% in Q4 FY26 (excluding one-off).
Gross NPA (GNPA)
GNPA was 1.52% in Q1 FY27, a decadal best, down from 1.91% in Q1 FY26 and 1.62% in Q4 FY26.
Net NPA (NNPA)
NNPA was 0.18% in Q1 FY27, a decadal best, down from 0.48% in Q1 FY26 and 0.37% in Q4 FY26 (excluding one-off).
Management forward view
Continuous Investment in Pan India Footprint
Management is focused on expanding banking outlets and ATMs/Recyclers, with a unified account opening solution rolled out.
Digitization as a Multiplier
Management emphasizes driving digital adoption across wholesale customers with solutions like Collection Hub and expanding digital payment capabilities.
Building Green Portfolio
The bank targets a green portfolio size of ₹15,000 Cr by March 2030 and aims for 750kWp in-house solar power generation by March 2028.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 3.33% | Sustained improvement or stabilization of NIM after the QoQ decline from 3.74%. |
| Sequential Deposit Growth | Total Deposits up 2% QoQ | Consistent sequential growth in total deposits and stabilization of CASA ratio to support funding costs. |
| Asset Quality (GNPA/NNPA) | GNPA 1.52%, NNPA 0.18% | Maintenance of decadal best asset quality ratios and continued low slippage rates. |
| Growth in High-Yielding Segments | Gold loans up 8% QoQ, Credit Cards up 10% QoQ | Continued strong sequential growth in high-yielding segments like Gold loans and Credit Cards to drive profitability. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
71Limited 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 66th percentile of the scored universe and 78th 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
157 docs text-extracted · 31 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Financial Services: 78th pctile, median 62 · Mid: 37th pctile, median 76
Evidence depth
Financial-only
157 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
78
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
56
watch · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸5 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸ROCE is low at 6.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching The Federal Bank Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 16 Oct
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 16 Oct
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 27 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 24 Sep
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 22 Sep - India Ratings affirmed Federal Bank’s Basel III Tier 2 and infrastructure bonds at IND AA+/Stable.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 19 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - Federal Bank schedules analyst and institutional investor meetings from September 21-30, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 13 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 8 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 5 Sep - Federal Bank to meet institutional investors and analysts abroad from September 9-11, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 22 Aug
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.