Bandhan Bank Limited (BANDHANBNK)

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Bandhan Bank Limited (BANDHANBNK) · mywealthgrid

About

Bandhan Bank Limited operates in private-sector banking in India. Market cap ₹28k Cr, quarterly revenue ₹5.5k Cr. Operating margins 46.86% and moderate leverage (D/E 0.56) signal efficiency-focused franchise.

Founded: 2001
Face value: ₹10

Market cap

₹28,355 Cr

P/E

21.0×

P/B

1.1×

Dividend yield

0.9%

ROE

4.9%

ROCE

6.4%

Debt / equity

0.56

OPM

46.9%

EPS (TTM)

₹8.4

Book value

₹158.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Net profit swings 111–937 Cr across recent quarters; verify if one-time items or structural income volatility
ROE 4.88% vs OPM 46.86% gap suggests capital inefficiency; verify asset quality and capital adequacy
Revenue flat ~5.4–5.6k Cr over two years amid sector growth; verify if losing share or in mature segment
FII holding declined 22.07% → 18.65% in single quarter; verify if flow-driven or fundamental concern

Generated analysis · source review pending

Growth drivers

OPM improved from 40.12% (Dec 2024) to 49.4% (Jun 2026), suggesting margin expansion if revenue inflects
Net profit recovery from ₹111.87 Cr (Sep 2025) to ₹534.14 Cr (Mar 2026) indicates stabilization of core business
Revenue base stable ~₹5.4–5.6k Cr/quarter creates leverage if cost discipline sustains through growth cycle

Generated analysis · source review pending

2,099 historical price candles were omitted because the exchange source has not been verified.

₹176.0-5%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 46.9%

Cons

−Low return on equity of 9.2% (3-yr avg)
−Profit declined 11.1% a year over the last 5 years
−Weak interest coverage of 1.2×
−Promoter holding fell 3.4 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

52/100

Business quality: 36
Growth: 42
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Idbi Bank LimitedIDBIIDBI	₹93,084 Cr	₹1,21,187 Cr	₹29,542 Cr	₹21,383 Cr	72.8%	₹9,343 Cr	31.8%	6.5%	14.2%	—
The Federal Bank LimitedFEDERALBNKFEDERALBNK	₹78,500 Cr	₹1,11,693 Cr	₹30,385 Cr	₹19,589 Cr	64.8%	₹4,692 Cr	15.1%	6.4%	11.4%	—
Idfc First Bank LimitedIDFCFIRSTBIDFCFIRSTB	₹69,254 Cr	₹1,05,886 Cr	₹41,958 Cr	₹14,462 Cr	35.6%	₹2,305 Cr	4%	6%	3.8%	—
Indusind Bank LimitedINDUSINDBKINDUSINDBK	₹69,094 Cr	₹1,11,884 Cr	₹45,297 Cr	₹22,203 Cr	49.3%	₹1,322 Cr	1.9%	5.7%	1.4%	—
Yes Bank LimitedYESBANKYESBANK	₹65,126 Cr	₹1,30,577 Cr	₹30,658 Cr	₹18,224 Cr	61.5%	₹3,775 Cr	11.6%	6%	7.1%	—
Rbl Bank LimitedRBLBANKRBLBANK	₹63,709 Cr	₹80,506 Cr	₹14,736 Cr	₹5,360 Cr	36.3%	₹899 Cr	6.1%	5.8%	5.4%	—
Bandhan Bank LimitedBANDHANBNKBANDHANBNK	₹28,355 Cr	₹42,658 Cr	₹21,844 Cr	₹10,127 Cr	46.9%	₹1,353 Cr	5.6%	6.4%	4.9%	—
Karur Vysya Bank LimitedKARURVYSYAKARURVYSYA	₹26,027 Cr	₹28,650 Cr	₹11,555 Cr	₹7,832 Cr	67.7%	₹2,745 Cr	22.7%	7.6%	19.3%	—
City Union Bank LimitedCUBCUB	₹17,092 Cr	₹22,419 Cr	₹7,249 Cr	₹4,979 Cr	69.6%	₹1,403 Cr	19.3%	6.7%	13.2%	—
The Jammu & Kashmir Bank LimitedJ&KBANKJ&KBANK	₹15,415 Cr	₹18,846 Cr	₹13,429 Cr	₹9,521 Cr	70.6%	₹2,301 Cr	17.9%	5.8%	15.3%	—
Tamilnad Mercantile Bank LimitedTMBTMB	₹13,813 Cr	₹14,513 Cr	₹6,096 Cr	₹4,458 Cr	74.1%	₹1,444 Cr	23%	7.5%	14%	—
The South Indian Bank LimitedSOUTHBANKSOUTHBANK	₹12,420 Cr	₹16,347 Cr	₹10,112 Cr	₹6,746 Cr	66.3%	₹1,511 Cr	14.8%	6.4%	13.5%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,644	10,885	12,524	13,871	15,905	18,870	21,948	21,689
Interest	2,148	4,562	4,961	5,157	6,645	8,544	10,458	10,859
Expenses	2,546	3,820	6,724	11,298	8,693	9,310	10,555	11,526
Financing profit	1,950	2,504	840	-2,584	567	1,016	936	-696
Financing margin %	29.4%	23%	6.7%	-18.6%	3.6%	5.4%	4.3%	-3.2%
Other income	1,063	1,549	2,109	2,823	2,469	2,165	2,967	2,734
Depreciation	—	—	—	110	143	238	279	304
Profit before tax	3,013	4,053	2,949	129	2,893	2,943	3,623	1,734
Tax	1,062	1,030	743	3	698	713	878	510
Tax %	35.2%	25.4%	25.2%	2.2%	24.1%	24.2%	24.2%	29.4%
PAT	1,952	3,024	2,205	126	2,195	2,230	2,745	1,224
EPS (₹)	16.4	18.8	13.7	0.8	13.6	13.8	17	7.6
EPS adjusted (₹)	—	—	13.7	0.8	13.6	13.8	17	7.6
	0%	0%	0%	0%	0%	10.8%	8.8%	19.7%
Gross NPA %	2%	1.5%	6.8%	6.5%	4.9%	3.8%	4.7%	3.3%
Net NPA %	0.6%	0.6%	3.5%	1.7%	1.2%	1.1%	1.3%	1%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	1,611	1,611	1,611	1,611	1,611	1,611
Reserves	15,798	15,770	17,973	19,999	22,994	23,964
Deposits	77,972	96,331	1,08,069	1,35,202	1,51,213	1,66,344
Borrowings	16,960	19,921	24,711	16,372	11,138	14,303
Other liabilities	2,675	5,234	3,406	4,659	4,520	4,902
Total equity & liabilities	1,15,016	1,38,867	1,55,770	1,77,842	1,91,476	2,11,124
Fixed assets	487	588	855	1,173	1,180	1,401
Investments	25,155	29,079	32,366	29,288	40,712	38,668
	89,374	1,09,200	1,22,549	1,47,381	1,49,584	1,71,054
Total assets	1,15,016	1,38,867	1,55,770	1,77,842	1,91,476	2,11,124

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-945	902	-4,245	14,808	2,752	1,143
	-1,804	-612	-1,618	1,691	-3,879	317
	588	2,803	4,791	-8,579	-5,475	2,923
Net cash flow	-2,160	3,093	-1,071	7,921	-6,601	4,382
Free cash flow	-1,167	690	-4,657	14,251	2,464	614
CFO / Operating profit %	-16.3%	35.1%	-58.9%	154.9%	24.2%	11.2%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Retail Banking	21,911.24	466.29	1,17,387.92	1,62,196.19	—	—
Treasury	3,083.64	981.9

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
PAT margin %	29.4%	27.8%	17.6%	0.9%	13.8%	11.8%	12.5%	5.6%
Return ratios
Return on assets %	—	—	1.9%	0.1%	1.4%	1.3%	1.4%	0.6%
Return on capital employed %	—	—	7%	4.3%	6.7%	7.1%	7.8%	6.4%
Return on equity %	—	—	12.7%	0.7%	11.2%	10.3%	11.2%	4.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Margin, working-capital and leverage ratios are omitted: a bank funds itself with deposits and books interest as its cost of revenue, so they would measure something other than what they name.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	39.98%	39.98%	39.98%	39.98%	39.98%	39.98%	39.98%	40.92%	40.29%	39.74%	38.98%	37.54%
	32.77%	34.74%	31.19%	28.25%	26.73%	23.22%	22.73%	24.34%	23.43%	22.31%	22.07%	18.65%
	17.46%	14.8%	12.43%	15.06%	16.34%	15.41%	16.36%	16.52%	17.82%	18.76%	22.33%	27.48%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0.07%	0.07%	0.07%	0.07%
	9.79%	10.48%	16.4%	16.71%	16.95%	21.39%	20.93%	18.22%	18.39%	19.12%	16.55%	16.26%
No. of shareholders	—	—	—	—	—	—	—	—	7,69,192	7,67,136	7,11,284	6,64,000

Promoter holding down 2.44 percentage points since Sep 2023.

59 deals · 31 Aug 2021 – 22 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,05,13,583	₹176.71	₹185.79 Cr
22 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,05,13,583	₹176.51	₹185.58 Cr
29 Apr 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,18,35,129	₹197.65	₹233.92 Cr
29 Apr 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,18,35,129	₹197.58	₹233.84 Cr
30 Aug 2024	UBS PRINCIPAL CAPITAL ASIA LIMITED	Bulk	NSE	Buy	1,92,02,326	₹200.27	₹384.56 Cr
29 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,03,37,586	₹213.28	₹220.48 Cr
29 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,03,37,586	₹212.95	₹220.14 Cr
23 Apr 2024	SOCIETE GENERALE	Block	NSE	Buy	1,21,16,098	₹180.80	₹219.06 Cr
23 Apr 2024	SOCIETE GENERALE	Bulk	NSE	Buy	1,21,16,098	₹180.80	₹219.06 Cr
23 Apr 2024	MARSHALL WACE INVESTMENT STRATEGIES - EUREKA FUND	Block	NSE	Sell	1,17,48,919	₹180.80	₹212.42 Cr

1–10 of 59

1 / 6

Mr. Anup Kumar SinhaNon-Executive - Independent Director-Chairperson
Mr. Biju E PunnachalilChief Risk Officer
Mr. Partha Pratim SenguptaExecutive Director-CEO-MD
Mr. Avijit MukerjiNon-Executive - Nominee Director
Mr. Arun Kumar SinghNon-Executive - Nominee Director
Mr. Debashish MukherjeeNon-Executive - Independent Director
Mr. Narayan Vasudeo PrabhutendulkarNon-Executive - Independent Director
Mr. Ratan Kumar KeshExecutive Director
Mr. Subrata Dutta GuptaNon-Executive - Independent Director
Mr. Suhail ChanderNon-Executive - Independent Director
Mr. Vijay Nautamlal BhattNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹178.2 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹179.1	-6	-3.2%	₹179.1	36,704	-1,026	6,498	3600
23 Nov 2026	₹180.3	-5.5	-2.9%	₹180.3	2,776	+2,306	2,363	3600
29 Dec 2026	₹181.5	-6.5	-3.5%	₹181.5	22	+22	29	3600

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 16 fund houses

Held by these funds

12.47%

of the company's equity

All mutual funds

19.65%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

73 schemes · 16 fund houses

		Shares
Contra Fund	SBI Mutual Fund	3.83 Cr	625.86	1.32%	2.376%	-0
Balanced Advantage Fund	SBI Mutual Fund	3.34 Cr	545.51	1.3%	2.071%	-0
Multi Asset Allocation Fund	SBI Mutual Fund	2.05 Cr	335.18	1.6%	1.272%	-0
Portfolio of Kotak Multi Cap FundNEW	Kotak Mahindra Mutual Fund	1.77 Cr	289.49	0.95%	1.099%	—
Portfolio of Kotak Multi Asset Allocation Fund	Kotak Mahindra Mutual Fund	1.29 Cr	210.3	1.38%	0.798%	-19.38 L
Flexicap Fund	SBI Mutual Fund	1.27 Cr	208.3	0.9%	0.791%	-0
ELSS Tax Saver Fund	SBI Mutual Fund	1.2 Cr	196.2	0.62%	0.745%	+80.07 L
Banking And Financial Services Fund	SBI Mutual Fund	90 L	147.15	1.35%	0.559%	+79.2 L

1–8 of 73

1 / 10

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Analyst / investor meeting28 Sept 2026 · 4 days agomeeting

3

Dividend dividend17 Aug 2026 · ex-date₹1.5
Dividend dividend14 Aug 2025 · ex-date₹1.5
Dividend dividend13 Aug 2024 · ex-date₹1.5

1

Board meeting to consider results21 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

44 announcementsExport CSV

9 Sept 2026, 2:46 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
PAT margin %	29.4%	27.8%	17.6%	0.9%	13.8%	11.8%	12.5%	5.6%
Return ratios
Return on assets %	—	—	1.9%	0.1%	1.4%	1.3%	1.4%	0.6%
Return on capital employed %	—	—	7%	4.3%	6.7%	7.1%	7.8%	6.4%
Return on equity %	—	—	12.7%	0.7%	11.2%	10.3%	11.2%	4.8%

25

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	130	₹0.0	0	0	0
0	0	0	₹0.0	140	₹0.3	0	0	6
0	0	0	₹0.0	145	₹0.6	56	+8	22
3	0	0	₹32.7	150	₹0.8	75	+21	86
15	0	0	₹32.5	155	₹1.0	134	+58	86
280	+140	163	₹20.8	160	₹1.5	507	+257	415
107	+3	9	₹16.3	165	₹2.1	487	+176	303
0	0	0	₹0.0	168	₹2.6	111	+36	36

Shaded cells are in the money against the underlying close. Green and red mark the move against the previous close — on the premium for LTP, on the position for change in OI. Settlement prices are the exchange's, not the last trade.

Date	Category	Subject	Filing
9 Sept 2026, 2:46 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
8 Sept 2026, 9:20 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
8 Sept 2026, 4:46 pm	Others	Rumour verification - Regulation 30(11)	PDF
8 Sept 2026, 2:45 pm	Company Update Clarification	Clarification sought from Bandhan Bank Ltd	—
7 Sept 2026, 5:45 pm	Company Update General	ESG Rating	PDF
5 Sept 2026, 8:42 pm	Company Update General	Grant Of Equity Stock Options	PDF
5 Sept 2026, 8:33 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting Held On September 05, 2026	PDF
1 Sept 2026, 12:44 pm	Company Update General	Update On Analyst / Institutional Investors Meet Held On September 01, 2026	PDF

Bandhan Bank Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

Fund holders

Documents

Announcements

Events

1

3

1

Announcements

1

3

1

Announcements

3

Annual reports

Credit ratings

Investor Presentation and earnings call

25

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Other Banking Operations · revenue

Bandhan Bank Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Fund holders

Documents

Announcements

Events

Upcoming and recent1

Dividends3

Board meetings1

Announcements

Ratio timeline

Upcoming and recent1

Dividends3

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Futures3

Annual reports

Credit ratings

Investor Presentation and earnings call

Option chain25

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Other Banking Operations · revenue

3

1

3

1

1

3

1

3

25