26 October 2026
3 mins read
Axis Bank reported ₹1,62,211.95 crore in FY26 revenue. Total assets are close to ₹18.89 lakh crore. The stock’s future performance will depend on book value growth, deposit growth, and valuation.
Incorporated in December 1993, Axis Bank Limited is a private sector bank. It has the third-largest branch network among private sector banks.
As of October 5, 2026, the stock price had declined 2.7% YTD, and the stock is trading at ₹1222.
| Metric | Axis Bank |
|---|---|
| Share Price | ₹1222 |
| Market Capitalisation | ₹3,79,778 crore |
| 52 Week High | ₹1418 |
| 52 Week Low | ₹1131 |
| P/E Ratio | 13.7x |
| P/B Ratio | 1.69x |
| FY26 Revenue | ₹1,62,211.95 crore |
| FY26 PAT | ₹26,493.82 crore |
| Dividend Yield | 0.08% |
(Source: Company Annual Report, Screener)
As of October 5, 2026, Axis Bank is trading at a P/E ratio of 13.7. Financial performance, operating margins, client relationships, and other business factors are relevant when assessing Axis Bank’s earnings and valuation.
Axis Bank is reported to be the third-largest private sector bank in India, offering financial services across retail banking, corporate and wholesale banking, and treasury operations.
Headquartered in Mumbai and originally established in 1993 as UTI Bank, it operates a domestic and international network, with a digital-first approach and a unified “One Axis” business strategy.
The Bank reported market shares of 36% in UPI, 37% in NEFT, and 27% in IMPS in digital payments during fiscal 2026.
| FY26 Revenue Mix | Contribution |
|---|---|
| Retail Banking | 72% |
| Wholesale Banking | 25% |
| Commercial Banking | 3% |
| Total | 100% |
(Source: Company Annual Report, BSE)
| FY26 Revenue Mix | Contribution |
|---|---|
| Fee Income | 93% |
| Trading Profit | 5% |
| Miscellaneous income | 2% |
| Total | 100% |
(Source: Company Annual Report, BSE)
Axis Bank reported the following financial figures during a period of varied demand conditions. The Bank Nifty index declined about 8.45% YTD, which has been linked to expectations of an increase in interest rates, FII outflows, and pressure on Net Interest Margin (NIM). Axis Bank reported revenue growth in FY25 and FY26, alongside reported profitability in both years.
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Revenue from operations | ₹1,37,989.36 crore | ₹1,55,916.86 crore | ₹1,62,211.95 crore |
| Revenue growth | 30% | 13% | 4% |
| PAT | ₹26,423.54 crore | ₹28,111.74 crore | ₹26,493.82 crore |
| PAT growth | 140% | 6% | 5.8% decline |
| NIM | 4.07% | 3.98% | 3.69% |
(Source: Company Annual Report, BSE)
The Banking Index traded at ₹54,633 as of the stated date. Axis Bank is trading 2.7% lower YTD at ₹1,222, compared with a 52-week high of ₹1,418.
Revenue for Axis Bank increased from ₹1,37,989 crore in FY24 to ₹1,62,211 crore in FY26, while revenue growth moderated from approximately 30% in FY24 to 4% in FY26.
Consolidated profit for the year moved from ₹26,423 crore in FY24 to ₹26,493 crore in FY26. PAT growth moved from 140% in FY24 to a 5.8% decline in FY26, while the Net Interest Margin (NIM) contracted from 4.07% in FY24 to 3.69% in FY26.
Broader macroeconomic conditions and interest rate expectations have been linked to movements in the Axis Bank stock price. Axis Bank has traded at varying P/E multiples over time. With loan portfolio growth moderating, it currently trades at a P/E multiple that has shown less variation.
The bank reported an ROE of 13.1% and an NIM of 3.69%, alongside a debt-to-equity ratio of 7.74x and a dividend yield of 0.08%.
| Key ratio (FY26/TTM) | Axis Bank |
|---|---|
| P/E | 13.7x |
| P/B | 1.69x |
| ROE | 13.1% |
| NIM | 3.69% |
| Dividend yield | 0.08% |
(Source: Company Annual Report, BSE, Screener)
The bank is trading at a P/E of 13.7 and a P/B of 1.69. Book value growth relative to this valuation is a factor that may be tracked going forward.
On a technical basis, the share price of Axis Bank has shown a pattern of lower highs and lower lows on a weekly time frame. A near-term support level has been noted at ₹1,150.
A resistance level has been noted at ₹1300. A move beyond this level would represent a change from the current pattern of lower highs and lower lows.
As of October 5, Axis Bank is trading below its short-term, medium-term, and long-term moving averages on the daily chart. On the weekly chart, the stock is trading below its 10-week and 30-week moving averages and above the 100-week moving average. The stock is trading near a support level of ₹1,222.
The shareholding pattern of Axis Bank has changed in recent quarters. Promoter holding declined from 8.16% to 7.87% between September 2025 and June 2026. FII holding declined from 41.89% to 39.91%, while DII holding remained little changed at 42.69% in June 2026.
Public holding increased from 7.06% to 9.52% over the same period. Changes in foreign institutional holdings can be tracked alongside the stock’s valuation and the overall global environment.
| Shareholding Pattern | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Promoters | 8.16% | 8.15% | 8.14% | 7.87% |
| FIIs | 41.89% | 42.58% | 42.04% | 39.91% |
| DIIs | 42.87% | 42.65% | 43.35% | 42.69% |
| Public & Others | 7.06% | 6.61% | 6.44% | 9.52% |
(Source: Screener)
The banking sector includes multiple companies operating across retail, corporate and wholesale segments. HDFC Bank, ICICI Bank, and SBI are direct peers of Axis Bank.
Axis Bank reported market shares of 36% in UPI, 37% in NEFT, and 27% in IMPS for the fiscal year 2026. SBI reported total assets of ₹83.21 lakh crore for the fiscal year 2026. HDFC Bank reported total assets of ₹50 lakh crore, while ICICI Bank and Axis Bank reported total assets of ₹25 lakh crore and ₹18 lakh crore, respectively.
The table below shows five stocks from the Nifty Bank index along with market capitalisation, 3-year sales and profit variance, and 3-year and 1-year returns (as of October 5, 2026).
| Stock Name | Market Cap (In ₹ cr) | Sales Variance of 3Y | Profit Variance 3Y | 3-Year Return | 1-Year Return |
|---|---|---|---|---|---|
| HDFC Bank | 10,88,861.37 | 15.68% | 18.06% | 2.03% decline | 25.28% decline |
| ICICI Bank | 9,44,256.37 | 17.85% | 16.58% | 11.51% | 4% decline |
| SBI | 8,86,892.07 | 19.94% | 14.38% | 17.10% | 10.01% |
| Kotak Mahindra | 4,14,727.15 | 17.46% | 8.94% | 6.25% | 0.42% decline |
| Axis Bank | 3,80,461.78 | 20.59% | 34.58% | 6.73% | 3.06% |
(Source: Screener)
The market cap of Axis Bank was roughly ₹3,80,461 crore as of October 5, 2026, with a P/E ratio of roughly 13.7. The stock recorded a 3-year return of roughly 6.73% and a 1-year return of roughly 3.06%.
The bank reported a 3-year sales growth variance of roughly 20.59% and a 3-year profit growth variance of approximately 34%.
Cost of Funds Pressure: Interest rate risk and deposit pricing are among the variables that influence net interest margins (NIM). If the cost of deposits rises faster than loan revenues, or if a bank offers higher-cost term deposits, NIMs can narrow.
Growth in NPA: The NPA ratio is a key asset quality metric for a bank. An increase in non-performing assets can directly affect the bank’s profitability.
Macroeconomic Risks and Geopolitics: Axis Bank’s participation in international and domestic trade networks means the firm is exposed to broader macroeconomic risk as well as global interest rate conditions that may affect credit demand and foreign institutional investment.
The stock recorded a return of 6.73% over 3 years and 3.06% over 1 year. The banking sector has faced industry-level pressures this year.
The company reported growth in book value and revenue over the last five years. Axis Bank reported a strong performance for Q2 FY27, with net profit surging 38% year-on-year to ₹7,003 crore, driven by robust core operating growth. Net Interest Income (NII) increased by 12% YoY to ₹15,371 crore, yielding a Net Interest Margin (NIM) of 3.36%. The bank witnessed healthy credit expansion, with advances growing 23% YoY and total deposits rising 21% YoY. Asset quality improved notably, with the Gross NPA ratio declining to 1.16% and the Net NPA ratio dropping to 0.35%.
The company’s business includes brand presence, a diversified portfolio, and established distribution channels.
The bank faces interest rate risk and competition for deposits. If the cost of deposits rises above the returns on loans, or if the bank relies on higher-cost deposits to maintain liquidity, the bank’s NIM can be affected.
The NIM for Axis Bank declined over the past three years from 4.07% in FY24 to 3.69% in FY26. This decline occurred alongside increases in revenue and deposits. Monetary Policy Committee (MPC) decisions are a factor linked to the bank’s NIM.
Asset quality metrics for the bank were GNPA at 1.23% (down 5 bps YoY) and NNPA at 0.37%.
The acquisition of Citibank’s India retail business by Axis Bank involved an upfront cost of about ₹11,603 crore, along with operational and technology costs of consolidating platforms and migrating employees. The acquisition gave Axis Bank entry into the premium retail segment without building the business from the beginning.
In return for the payment, Axis Bank acquired a customer portfolio comprising approximately 2.5 million credit card users, deposit balances, and wealth management assets. The acquisition included an unsecured lending portfolio, personnel, and infrastructure, which support cross-selling opportunities and fee revenues.
Axis Bank ranks third among private banks by total assets, with HDFC Bank and ICICI Bank ranking first and second, respectively, and Kotak Mahindra Bank ranking fourth. Axis Bank reported total assets of ₹18.87 lakh crore and deposits of ₹13.36 lakh crore.
By comparison, HDFC Bank reported total assets of ₹50 lakh crore, while ICICI Bank reported around ₹30 lakh crore in total assets. Axis Bank ranks fourth by market capitalisation at ₹3,80,461.78 crore, compared with HDFC Bank's ₹10,88,861.37 crore.
Source: Dalal Street Investment Journal (DSIJ), Axis Bank Annual Reports, BSE India, NSE India, Screener, TradingView
The Axis Bank share price in 2026 is linked to growth in Book Value, Net Interest Margin, and valuations. Related factors include global conditions, margins, and revenues.
Axis Bank operates in a cyclical industry. The company has reported profitability, and metrics such as valuation and growth are among the factors relevant to evaluating the stock.
The growth drivers linked to Axis Bank are NIM trends, brand presence, deposit growth, and growth in the company's total assets.
The risks include growth in NPAs, margin compression, global uncertainty, and the cyclical nature of the industry.
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All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing
MTF
As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).
US INVESTING
International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.
IPO
This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.
SCREENERS
Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform.
SECURITIES
Securities quoted are exemplary and not recommendatory.
IPV
Account would be open after all procedure relating to IPV and client due diligence is completed.
IMAGES
The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.
THIRD PARTY PRODUCT DISCLAIMER
Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.
As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.
