Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Oct - Karnataka Bank launched 'Nava Dhamaka 2026' with nine new digital, payments, wealth and lending solutions in Bengaluru.
Source: Bse
The Karnataka Bank Limited (KTKBANK)
Micro CapFinancial Services stocks · Micro cap · NSE
Karnataka Bank is a private sector bank with a 100+ year legacy and pan-India presence (975 branches in 22 states). It focuses on retail, MSME, and rural segments, leveraging digital transformation and a diversified product portfolio to drive growth and enhance financial performance.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals20 Oct 2026 · screener
Latest result16 Aug, 12:37 am IST
Score21 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
54NeutralMACD − · near 52W high
Stock trend: 61
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
KTKBANKD candles · FIT view+36.2%Latest close ₹329.65 on 2026-10-19
Bar
+0.5%
RSI
51
MACD hist
-0.03
52W pos
91%
2026-10-19O ₹328.00H ₹333.85L ₹327.60C ₹329.65Vol 10.4L 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
KTKBANKNifty Financial ServicesNifty 500
- KTKBANK
- +19.8%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +25.3 pp
Chart stats
19 Oct 2026- From 52W high
- -4.7%
- 52W range position
- 91%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.56x
- Avg traded value
- ₹59.7 Cr
- 20D price channel
- ₹311.2 - ₹345.4
₹345.9
₹170.3 - ₹345.9
₹10
Latest completed session
20-session average
35.1% annualized volatility
Research snapshot
What the evidence says now
Mixed 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 · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good65
Revenue +5.4% · PAT +43.5% YoY
Technical
Neutral54
Price trend and sector-relative-strength timing.
Valuation
Legacy model+66.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
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 Jun 2026
Good · 65/100Rev +5% YoY · PAT +43% YoY · +6% QoQ · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,383 Cr | +5.4% | +5.6% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹419 Cr | +43.5% | +2.7% |
| PAT margin | 17.6% | +467 bps | -50 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.68
- P/B
- 0.94
- EV/EBITDA
- —
- Market Cap
- 12474.00Cr
Profitability
- ROE
- 10.40%
- ROCE
- 6.06%
- ROA
- 1.11%
- Dividend Y
- 1.48%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- 22.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- 4.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- —
- Altman Z
- 1.85
- Book Value
- 350.00
Cash Flow
- FCF Yield
- 8.11%
- FCF Positive Y
- 4/5
- OCF
- 1100.00 Cr
- EPS TTM
- 38.01
Shareholding
- Promoter Hold
- —
- Promoter Pledge
- 0.00%
- Momentum 52W
- 91%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 2,383+5.6% vs prev
Net Profit
₹ CrLatest: 419+2.7% 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
NeutralTrend is undirectional — long-term uptrend intact. RSI 51.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 51 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 5% off 52W high · 90% 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 UptrendEstablished S2
1M return
+5.1%
3M return
+19.8%
6M return
+31.5%
1Y return
+79.6%
RS 1D
0
RS 20D
+1
Sector rank
#10
Industry rank
#20
Stage evidence
- Price is 16.6% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
25 Feb 2026
S2 age
167 trading sessions
Sector
weakening
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 199.09+0.97%
RS vs Nifty 500199
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation25/30
Growth12/25
Quality1/20
Balance Sheet7/15
Cash Flow8/10
Piotroski
5/9 (+3)
Penalties
-1
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- FCF yield is supportive at 8.1%.
- Fair-value margin of safety is positive at 66.0%.
- Valuation contributes 25/30 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; 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
8.7
PB
0.9
EV/EBITDA
—
ROE
10.4%
ROCE
6.1%
FCF Yield
8.1%
Debt/Equity
0.1
MoS
+66.0%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+66.0%
Previous: +66.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
56
56
55
55
55
55
55
55
55
55
55
55
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
₹547.11
+39.7% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹969.26
+66.0% MoS
PEG
0.59
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 167
54
9.4
14.0%
+63%
FAIR VALUE
DCBBANK
Micro
DCB Bank Limited
Banking
match 163
56
8.6
12.0%
+66%
FAIR VALUE
J&KBANK
Large
The Jammu & Kashmir Bank Limited
Banking
match 159
64
6.6
15.4%
+74%
UNDERVALUED
DHANBANK
Small
Dhanlaxmi Bank Limited
Banking
match 153
55
9.2
7.2%
+50%
FAIR VALUE
CUB
Small
City Union Bank Limited
Banking
match 153
38
16.0
13.2%
+36%
WATCHLIST
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 2026-06-03T01:45:17.120Z
Management commentary snapshot
Karnataka Bank reported strong Q4 FY26 results with PAT up 40% QoQ to Rs. 408 cr., driven by 8% QoQ gross advances growth and improved asset quality (GNPA 2.78%, NNPA 0.98%). NIM expanded to 3.07%, and ROA/ROE significantly improved.
The bank demonstrates robust sequential improvement across profitability, asset quality, and business growth, exceeding several internal targets. Management's focus on digital initiatives, core segments, and government business offers clear growth pathways. However, the significant increase in provisions YoY warrants scrutiny.
Current business mix
Gross Advances by Segment (Q4FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Retail51.0%
Mid Corporate19.0%
Large Corporate30.0%
Growth engines
Retail Focus
Retail advances reached 51% of gross advances in FY26, up from 46% in FY20.
MSME & Rural Focus
MSME and Agri-Loans constitute 31.9% of the portfolio and are identified as key growth drivers.
Digitalisation & Partnerships
Scaling up Dairy Neo Banking loans on ULI, Fintech partnerships, and integration with Maruti Suzuki Smart Finance are key initiatives.
Government Business
Empaneled as 'Agency Bank' for Direct Tax, GST, Customs Duty, with EPFO and CGAS launches planned.
Capacity and execution
Retail Loan Processing Hubs
The bank has established 15 Retail Loan Processing and Sanctioning Centers (RLPSCs).
Business Correspondents
Onboarded 201 Business Correspondents (BCs) to strengthen the portfolio.
Agricultural Field Officers
Deployed 83 AFOs at branches & clusters to source quality agri proposals.
Technology Hub
Opened a 40,000 sq. ft. ‘Technology, Digital & Product Hub’ in Bengaluru with 300+ skilled employees.
Tailwinds
Experienced Management
Strong management team with proven experience and leadership, strengthening the organization for the future.
Digital Transformation
Strategic implementation of digital projects aims to increase customer base, enhance satisfaction, and drive financial growth.
Diversified Offerings
Comprehensive product suite across Retail, MSME, and Agriculture, with a pipeline of new products.
Government Business Opportunities
Focused efforts to become a top government collection bank, with new services like EPFO and CGAS planned.
Risk radar
Standard Restructured Portfolio
The standard restructured portfolio was Rs. 806 cr. in Q4 FY26, with approximately 56% requiring a 30% recovery for upgradation.
Provisions Increase
Total provisions increased significantly to Rs. 90.34 cr. in Q4 FY26 from Rs. 31.08 cr. in Q4 FY25.
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
Both QoQ and YoY comparisons are essential. QoQ highlights sequential momentum in business growth, asset quality improvement, and profitability, while YoY provides context for annual trends and the impact of strategic initiatives over a longer period.
Sector KPIs management disclosed
AUM Growth (Gross Advances)
Gross Advances were Rs. 83,340 cr. in Q4FY26, recording an 8% QoQ growth.
Disbursements (Retail Sectoral Loans)
Retail Sectoral Loan Disbursement was Rs. 7,903 cr. in Q4FY26.
NIM
Net Interest Margin (NIM) was 3.07% in Q4FY26, an improvement of 15 bps QoQ.
Cost of Funds
Cost of Funds was 5.38% in Q4FY26, improving by 8 bps QoQ and 45 bps YoY.
Management forward view
Restructured Portfolio Recovery
Bank is focusing on recovering the 56% of the restructured portfolio that requires 30% recovery for upgradation.
Digital Lending Scale-up
Plans to scale up Dairy Neo Banking Loans on ULI and expand fintech partnerships.
New Product Launches
KBL Soulabhya Plus Deposit Scheme launched; Virtual account facility and Capital Gain account Scheme are in the pipeline.
Government Business Expansion
EPFO contributions and Capital Gains Accounts Scheme to be launched in Q1 FY26-27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| NNPA | 0.98% | Sustained levels below 1% and adherence to the 1%-1.2% target range. |
| NIM | 3.07% | Consistency and movement towards the 3%-3.3% target range. |
| Cost to Income Ratio | 50.47% (Q4FY26) | Continued efficiency improvements below the 53%-56% target range. |
| ROA | 1.27% | Sustained performance above the 1.1%-1.2% target range. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited 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 72nd percentile of the scored universe and 84th percentile within Financial Services. Main check: financial discipline is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
98 docs text-extracted · 28 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Financial Services: 84th pctile, median 62 · Micro: 54th pctile, median 73
Evidence depth
Financial-only
98 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
89
strong · profit to cash conversion
Balance sheet
80
strong · leverage and solvency
Discipline
48
watch · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 7.9%.
- ▸4 years of positive FCF.
- ▸Debt/equity is 0.05.
Trust risks
- ▸ROCE is low at 6.1%.
- ▸1/4 latest quarters had positive YoY revenue growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching The Karnataka Bank Limited
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 23 Sep - Karnataka Bank’s 102nd AGM approved seven resolutions, including directors, auditors, and Rs.5 final dividend for FY26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 11 Sep - Karnataka Bank held analyst and institutional investor meetings in Mumbai on September 10-11, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances 10 Sep - UFBU calls one-day strike on 11.09.2026; bank expects possible branch and office disruptions.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 8 Sep - Allotment of equity shares pursuant to exercise of vested stock options under the Karnataka Bank Employees Stock Options Scheme, 2023
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Scheduling of meeting with Analysts / Institutional Investors
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Aug - Allotment of equity shares pursuant to exercise of vested stock options under the Karnataka Bank Employees Stock Option Scheme, 2023
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 3 Aug - Karnataka Bank launched KBL Finsurance, a digital insurance lead tracking portal with SprintMoney integration.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 16 Jul - Allotment of Equity Shares pursuant to exercise of vested stock options under the Karnataka Bank Employees Stock Exchange Scheme, 2023
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 1 Jul - Allotment of equity shares pursuant to exercise of vested stock options under the Karnataka Bank Employees Stock Option Scheme, 2023
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 11 Jun - Allotment of equity shares pursuant to exercise of vested stock options under the KBL Employees Stock Option Scheme 2018
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.