Kotak Mahindra Bank Q3 Results Review — Post Long-Term Time Correction, Upgrade To 'Buy': Yes Securities

We upgrade Kotak Mahindra Bank to Buy with an unchanged price target of Rs 2150: We value the standalone bank at 2.2x FY26 P/BV for an FY26/27E RoE profile of 14.1%/14.2%. We assign a value of Rs 736 per share to the subsidiaries..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Yes Securities Report.Asset Quality – Kotak Mahindra Bank Ltd.'s gross slippages declined on sequential basis, with management making reasonably comforting comments in the context of the environment: Gross NPA additions amounted to Rs 16.57 billion for Q3 FY25, translating to an annualized slippage ratio of 1.6% for the quarter. Gross NPA additions had amounted to Rs 18.75 billion during Q2 FY25. In unsecured small ticket lending, personal loan slippages have declined on sequential basis, whereas credit card slippages have remained similar and microfinance slippages have risen. The rise in microfinance slippages have been more than offset by the decline in secured retail loan slippages. Retail microfinance is a small book of about Rs 80 billion in an overall book of about Rs 4000 billion and hence, cannot move the needle materially. Provisions were Rs 7.94 billion, up by 20.2% QoQ and 37.1% YoY, translating to calculated annualised credit cost of 78 bps. Annualised credit cost based on specific provisions alone was 68 bps, up by 3 bps QoQ..Click on the attachment to read the full report:.Kotak Mahindra Bank Q3 Results Review — Motilal Oswal Upgrades The Stock To 'Buy'; Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Kotak Mahindra Bank Q3 Results Review — Post Long-Term Time Correction, Upgrade To 'Buy': Yes Securities

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