Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Oct
Source: Bse
The Jammu & Kashmir Bank Limited (J&KBANK)
Large CapFinancial Services stocks · Large cap · NSE
The Jammu & Kashmir Bank Limited is a financial institution providing banking services. It reported audited financial results for the Fourth Quarter and Financial Year ended March 31, 2026, demonstrating growth in deposits and advances, alongside improved asset quality.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result22 Sept, 04:24 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
48NeutralSMA20 -4.8% / mo · MACD +
Stock trend: 51
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
J&KBANKD candles · FIT view+10.6%Latest close ₹139.35 on 2026-10-19
Bar
+3.1%
RSI
45
MACD hist
0.14
52W pos
40%
2026-10-19O ₹135.15H ₹140.27L ₹134.35C ₹139.35Vol 29.0L 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
J&KBANKNifty Financial ServicesNifty 500
- J&KBANK
- -23.5%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -18.0 pp
Chart stats
19 Oct 2026- From 52W high
- -30.9%
- 52W range position
- 40%
- ATR (14)
- 2.8%
- Volume vs 20D
- 1.46x
- Avg traded value
- ₹27.3 Cr
- 20D price channel
- ₹133.7 - ₹149.6
₹201.8
₹97.4 - ₹201.8
₹3.9
Latest completed session
20-session average
27.6% 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 is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED64
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
pending—
No classified quarterly result is available yet.
Technical
Neutral48
Price trend and sector-relative-strength timing.
Valuation
Legacy model+73.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
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
Quarterly result analysis pending
No classified quarterly result is available yet. Financial-history charts below may still contain upstream data.
Fundamentals
Valuation
- P/E
- 6.63
- P/B
- 0.90
- EV/EBITDA
- —
- Market Cap
- 15281.00Cr
Profitability
- ROE
- 15.40%
- ROCE
- 5.84%
- ROA
- 1.22%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 41.00%
- Revenue 3Y
- 12.00%
- EPS 3Y
- 26.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- —
- Altman Z
- 1.93
- Book Value
- 154.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -1126.00 Cr
- EPS TTM
- 20.91
Shareholding
- Promoter Hold
- 59.40%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 40%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 3,547+8.4% vs prev
Net Profit
₹ CrLatest: 429-46.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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 45. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~5.0% over last month) — short-term momentum negative.
- RSI(14) at 45 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 31% off 52W high · 43% 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
79
RS percentile
Stage 1 Base / Transition
1M return
-4.9%
3M return
-23.5%
6M return
+4.9%
1Y return
+28.3%
RS 1D
+6
RS 20D
-2
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is within 4.3% of the 30-week proxy.
- The 30-week proxy changed +2.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 144.24+4.81%
RS vs Nifty 500144
Valuation & peers
U-Score 64 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 64 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation29/30
Growth15/25
Quality8/20
Balance Sheet8/15
Cash Flow3/10
Piotroski
4/9 (+1)
Penalties
0
Raw sum
64
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
64/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 73.9%.
- Valuation contributes 29/30 to the score.
- Growth contributes 15/25 to the score.
Main drags
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- 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
6.6
PB
0.9
EV/EBITDA
—
ROE
15.4%
ROCE
5.8%
FCF Yield
—
Debt/Equity
0.0
MoS
+73.9%
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
64
Previous: 64
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+73.9%
Previous: +73.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
64
64
64
64
64
64
64
64
64
64
64
64
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
₹269.17
+48.2% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹533.21
+73.9% MoS
PEG
0.19
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
TMB
Micro
Tamilnad Mercantile Bank Limited
Banking
match 160
54
9.4
14.0%
+63%
FAIR VALUE
KTKBANK
Micro
The Karnataka Bank Limited
Banking
match 159
55
8.7
10.4%
+66%
FAIR VALUE
DCBBANK
Micro
DCB Bank Limited
Banking
match 156
56
8.6
12.0%
+66%
FAIR VALUE
CUB
Small
City Union Bank Limited
Banking
match 155
38
16.0
13.2%
+36%
WATCHLIST
DHANBANK
Small
Dhanlaxmi Bank Limited
Banking
match 152
55
9.2
7.2%
+50%
FAIR VALUE
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 2026-06-12T16:39:21.525Z
Management commentary snapshot
J&K Bank reports strong Q4 and FY26 profit growth, driven by robust advances and deposit expansion. Asset quality improved significantly YoY, though Net Interest Margins compressed.
The bank delivered strong profit growth and significant asset quality improvement in FY26 and Q4. Robust advances growth and deposit mobilization are positive, but the continued compression in Net Interest Margins is a concern that warrants close observation.
Current business mix
Gross Advances Exposure by Sector (March 31, 2026)
Latest issuer-disclosed distribution across 10 reported categories.
Personal Finance34.7%
Financial Markets16.3%
Trade10.8%
Agriculture10.3%
Infrastructure9.6%
Services7.9%
Manufacturing5.5%
Against Cash Collaterals2.3%
Others2.0%
Real Estate0.6%
Growth engines
Net Advances Growth
Net Advances grew by 18% YoY to Rs.1,22,641 crore as on March 31, 2026.
Deposit Growth
Deposits grew by 11.3% YoY to Rs.1,65,354 crore as on March 31, 2026.
Rest of India Advances Growth
Gross Advances in Rest of India grew by 30.9% YoY to Rs.48,822 crore as on March 31, 2026.
Rest of India Deposit Growth
Deposits in Rest of India grew by 18.2% YoY to Rs.28,523 crore as on March 31, 2026.
Capacity and execution
ATM Network Expansion
Number of ATMs increased to 1437 as on March 31, 2026, from 1424 as on March 31, 2025.
Tailwinds
Improved Asset Quality
Gross NPA ratio improved to 2.50% and Net NPA ratio to 0.64% as on March 31, 2026, from 3.37% and 0.79% respectively YoY.
Strong Profitability
Net Profit grew by 13.5% YoY for FY26 and 36.5% YoY for Q4 FY26.
Efficiency Gains
Cost to Income Ratio improved to 56.18% for FY26 from 57.69% YoY, and to 47.86% for Q4 FY26 from 57.48% YoY.
Headwinds
NIM Compression
Net Interest Margin declined to 3.60% for FY26 from 3.92% YoY, and to 3.52% for Q4 FY26 from 3.88% YoY.
CASA Ratio Decline
CASA Ratio decreased to 45.65% as on March 31, 2026, from 47.01% YoY.
Yield on Advances Decline
Yield on Advances declined to 8.98% for FY26 from 9.56% YoY, and to 8.51% for Q4 FY26 from 9.44% YoY.
Risk radar
Geographical Concentration
82.7% of Deposits and 60.9% of Gross Advances are concentrated in J&K UT as on March 31, 2026.
High GNPA in Real Estate
Real Estate sector has a Gross NPA of 21.66% as on March 31, 2026, significantly higher than other sectors.
High GNPA in Services Sector
Services sector has a Gross NPA of 7.33% as on March 31, 2026.
Increased Borrowing Cost
Interest Expended on Borrowings increased by 1998.2% YoY in Q4 FY26 and 121.3% YoY in FY26.
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
Financial services performance is best understood by comparing both annual (YoY) trends for overall business growth and asset quality, and quarterly (QoQ) for sequential momentum in spreads, utilization, and project execution.
Sector KPIs management disclosed
Net Profit
Net Profit for FY 2025-26 was Rs.2,363.47 crore (13.5% YoY) and for Q4 FY26 was Rs.797.81 crore (36.5% YoY).
Deposits
Deposits stood at Rs.1,65,354 crore as on March 31, 2026, an 11.3% YoY increase.
Net Advances
Net Advances stood at Rs.1,22,641 crore as on March 31, 2026, an 18% YoY increase.
NIM (Annualized)
NIM for FY 2025-26 was 3.60% (vs 3.92% YoY) and for Q4 FY26 was 3.52% (vs 3.88% YoY).
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 3.52% (Q4 FY26 annualized) | Stabilization or improvement in NIMs, given the recent declining trend. |
| Asset Quality (GNPA/NNPA) | GNPA 2.50%, NNPA 0.64% (Mar 31, 2026) | Continued reduction in NPA ratios and sustained high coverage. |
| Advances Growth (Rest of India) | 30.9% YoY (Rest of India) | Sustained high growth in advances outside J&K UT to diversify the portfolio. |
| CASA Ratio | 45.65% (Mar 31, 2026) | Reversal of the declining trend in CASA ratio to maintain low-cost funding. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited 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 52nd percentile of the scored universe and 66th percentile within Financial Services. Main check: cash conversion is weak at 52/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
69 docs text-extracted · 18 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Financial Services: 66th pctile, median 62 · Large: 29th pctile, median 73
Evidence depth
Financial-only
69 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
52
watch · profit to cash conversion
Balance sheet
80
strong · leverage and solvency
Discipline
56
watch · capital discipline
Results
67
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 59.4%.
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸Operating cash flow is negative at ₹-1126 Cr.
- ▸ROCE is low at 5.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching The Jammu & Kashmir Bank Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Oct
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 29 Sep - Brickwork reaffirmed BWR A/Stable on ₹1,000 crore Additional Tier I bonds; Tier II bonds withdrawn.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Sep - DISCLOSURE UNDER REGULATION 30 AND 46 OF SEBI (LODR) REGULATIONS, 2015
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Sep
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 11 Sep - CARE Edge reaffirmed CARE AA- Stable ratings for J&K Bank's ₹1,000 crore and ₹1,500 crore Tier-II bonds.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Aug - Newspaper publication regarding 88th Annual General Meeting of the Bank
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 20 Aug - India Ratings affirmed J&K Bank’s IND AA-/Stable ratings, including Basel III Tier II bonds.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 5 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 4 Jul - J&K Bank appoints Rakesh Magotra as CCO/GCO for three years, replacing Peer Masood Ahmad.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.