Karur Vysya Bank Limited (KARURVYSYA)
Small CapFinancial Services stocks · Small cap · NSE
Karur Vysya Bank is an Indian private sector bank providing retail, commercial, and corporate banking services. It focuses on granular deposit growth, RAM-led advances, and digital transformation. The bank emphasizes sustained profitability, strong asset quality, and comfortable capital adequacy.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +19% YoY · PAT +45% YoY · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3,049 Cr | +18.7% | +5.0% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹756 Cr | +45.1% | +4.3% |
| PAT margin | 24.8% | +452 bps | -17 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
Q1 FY27 sees robust advances (+17% YoY) and deposit (+15% YoY) growth, driving Net Profit up 45% YoY. Asset quality remains strong with GNPA at 0.74% and NNPA at 0.19%, while NIM improved to 4.26%.
KVB delivered strong Q1 FY27 results, marked by healthy RAM-led advances growth and granular deposit accretion. Profitability metrics like Net Profit, ROA, and ROE improved significantly YoY. Asset quality remains robust with low GNPA/NNPA and high PCR, indicating effective risk management. Digital adoption is also increasing, supporting efficiency.
Gross Advance Mix (Jun-26)
Latest issuer-disclosed distribution across 4 reported categories.
RAM-led Growth
RAM verticals (Retail, Agri, MSME) grew 18% YoY and 6% QoQ, contributing to 90,324 Cr of advances.
Secured Retail Products
Retail-Jewel loans grew 47% YoY and 12% QoQ. Mortgage (LAP) loans grew 53% YoY and 9% QoQ.
Digital Banking Adoption
98% of transactions served digitally in Q1 FY27. UPI transactions increased to 4575 lakhs from 4157 lakhs QoQ.
Branch Network Expansion
Total branches increased to 903 in Jun-26 from 901 in Mar-26 and 888 in Mar-25.
Digital Transformation
Launch of 'KVB Corp' mobile app for corporate customers and enhanced features in 'DLite' app drive efficiency and customer engagement.
ESG Integration
CRISIL ESG rating improved to 'Strong' (68). ESG considerations integrated into risk management and credit policy.
Decline in Other Income
Other Income declined 28% QoQ and 1% YoY. 'Others' component of Other Income declined 49% QoQ and 12% YoY.
Specific Retail Loan Declines
Housing loans declined 1% YoY and QoQ. Vehicle loans declined 21% YoY and 5% QoQ.
Sustainability of Other Income
Significant QoQ and YoY decline in 'Other Income' components, particularly 'Others', could pressure overall income growth if not reversed.
Retail Loan Portfolio Concentration
While overall retail grew, declines in housing and vehicle loans suggest potential pockets of stress or reduced demand in certain segments.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
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.
Financial services performance is influenced by both seasonal factors (YoY) and sequential momentum in lending, deposit mobilization, asset quality, and digital adoption (QoQ). The presentation provides both comparisons.
Gross Advances Growth
Gross Advances grew 17% YoY to ₹1,04,680 Cr and 6% QoQ.
Total Deposits Growth
Total Deposits grew 15% YoY to ₹1,22,587 Cr and 6% QoQ. CASA grew 15% YoY and 9% QoQ.
Net Interest Margin (NIM)
NIM for Q1 FY27 was 4.26% (after excluding one-off item), up 40 bps YoY and 1 bps QoQ.
Cost of Deposits
Cost of Deposits was 5.45% in Q1 FY27, down 32 bps YoY (from 5.77%) but up 4 bps QoQ (from 5.41%).
Consistent Growth Strategy
Management highlights 'Consistent Growth with Sustained Profitability and Asset Quality' as a core theme.
Comfortable Capital Position
Management states that the 'Capital position remains comfortable to support growth'.
Maintaining Asset Quality
Management emphasizes 'NPA remains low and Consistent' and 'Bank Maintaining high Asset Quality with GNPA 0.74% and NNPA 0.19%'.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 4.26% | Sustained improvement or stability, especially given the slight QoQ increase in Cost of Deposits. |
| RAM Advances Growth | 18% YoY, 6% QoQ | Continued strong growth in Retail, Agriculture, and MSME segments to drive overall advances. |
| Other Income Trend | Down 28% QoQ, 1% YoY | Reversal of the declining trend in 'Other Income' to support overall profitability. |
| Asset Quality (GNPA/NNPA) | GNPA 0.74%, NNPA 0.19% | Maintenance of low NPA levels and high PCR, especially with continued advances growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
79Bullishfull bull SMA stack · SMA20 +3.5% / mo · MACD − · near 52W high
Technical chart
KARURVYSYAdaily · 1Y · AUTO+10.1%Daily technical trend read
Bullish setupTrend is constructive — long-term uptrend intact. RSI 62.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~3.3% over last month) — short-term momentum positive.
- RSI(14) at 62 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Relative Strength & Trend Stage
- Price is 14.1% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.6%.
- Both 3-month and 6-month returns are positive.
Valuation & score drivers
U-Score 51 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 51 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Fair-value margin of safety is positive at 55.8%.
- Growth contributes 16/25 to the score.
- Valuation contributes 17/30 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Balance sheet is weaker at 5/15; verify the latest quarterly trend.
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.
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.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 70th percentile within Financial Services. Main check: cash conversion is weak at 52/100.
Healthy Trust Lite: Promoter pledge is zero. Key concern: Operating cash flow is negative at ₹-554 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Financial Services: 70th pctile, median 62 · Small: 60th pctile, median 66
61 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead 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.
Trust positives
- ▸Promoter pledge is zero.
- ▸6 years of positive FCF.
- ▸Debt/equity is 0.02.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-554 Cr.
- ▸Promoter holding is only 2.1%.
- ▸ROCE is low at 7.6%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 11.80
- P/B
- 2.29
- EV/EBITDA
- —
- Market Cap
- 32278.00Cr
Profitability
- ROE
- 19.10%
- ROCE
- 7.62%
- ROA
- 2.01%
- Dividend Y
- 0.78%
Growth (CAGR)
- Revenue 5Y
- 15.00%
- EPS 5Y
- 47.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 31.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- —
- Altman Z
- 2.42
- Book Value
- 146.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 6/5
- OCF
- -554.00 Cr
- EPS TTM
- 28.40
Shareholding
- Promoter Hold
- 2.07%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 88%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Financial Services, ranked by similarity
Peers
Business-comparable names in Financial Services, ranked by similarity
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.