Federal Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

Federal Bank has allotted 4,61,890 equity shares under ESOS on 19 June 2024.

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Federal Bank has allotted 27,39,222 equity shares under ESOS on 12 June 2024.

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Federal Bank Ltd is up for a third straight session today. The stock is quoting at Rs 165.55, up 2.16% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 3.01% on the day, quoting at 23209. The Sensex is at 76202.69, up 3.03%. Federal Bank Ltd has gained around 1.13% in last one month.

Meanwhile, Nifty Bank index of which Federal Bank Ltd is a constituent, has gained around 3.84% in last one month and is currently quoting at 48983.95, up 3.65% on the day. The volume in the stock stood at 136.13 lakh shares today, compared to the daily average of 105.94 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 166.95, up 2.39% on the day. Federal Bank Ltd is up 30.05% in last one year as compared to a 24.82% jump in NIFTY and a 15.13% jump in the Nifty Bank index.

The PE of the stock is 10.61 based on TTM earnings ending March 24.

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Total income rose 23.42% year on year (YoY) to Rs 6,732.23 crore in the quarter ended 31 March 2024.

Operating profit before provisions and contingencies stood at Rs 1,110.35 crore in fourth quarter of 2024, down 16.80% YoY.

During the quarter, net interest income grew 14.97% YoY Rs 2,195.11 crore. Net interest margin de-grew to 3.21% in Q4 FY24 from 3.36% in Q4 FY23.

On a standalone basis, the bank's net profit climbed 23.58% to Rs 3,720.6 crore on 32.06% increase in total income to Rs 25,267.53 crore in the year ended March 2024 over the year ended March 2023.

Net worth of the bank increased 35.81% YoY to Rs 29,089.41 crore as on 31 March 2024. The capital adequacy ratio (CRAR) of the bank, computed as per Basel III guidelines, stood at 16.13% as on 31 March 2023. Provision coverage ratio excluding technical write off was 71.08%.

On asset quality front, the gross non-performing assets (GNPA) stood at Rs 4,528.87 crore as on 31 March 2024 as against Rs 4,183.77 crore as on 31 March 2023.

The ratio of gross NPA stood at 2.13% as of 31 March 2024 as compared to 2.36% as of 31 March 2023. The ratio of net NPA was at 0.60% as of 31 March 2024 as against 0.69% as of 31 March 2023.

Gross advances recorded a growth of 19.87% YoY to Rs 2,12,623 crore and total deposits climbed 18.35% YoY to Rs 2,52,534.02 crore as of 31 March 2024.

The CASA deposits grew 6.39% YoY to Rs 74,200 crore in Q4 FY24 and CASA ratio slipped to 29.38% in Q4 FY24 from 32.68% posted in Q4 FY23.

During the year, retail advances grew by 20.07% YoY to Rs 67,435.34 crore. Agri advances stood at Rs 28,097 crore, registering a growth of 28.19% YoY. Commercial banking advances grew by 26.63% YoY to Rs 21,486.65 crore. Corporate advances registered a growth of 11.97% YoY to Rs 64,311.34 crore.

Return on assets (ROA) for Q4 FY24 fell to 1.22% as against 1.45% in Q4 FY23. Return on equity (ROE) decreased to 12.75% in the quarter ended 31 March 2024 as compared to 17.48% in the corresponding quarter previous year.

Shyam Srinivasan, managing director & CEO of Federal Bank said, “With a 10% increase in our footprint, our branches now dot the map, across the length and breadth of India. The physical distribution is buttressed with significant investments in Technology and Digital capabilities, helping us serve clients in over 15,000 pin codes.”

Meanwhile, the board of directors recommended a final dividend of Rs 1.20 for the year ended 31 March 2023, subject to the approval of the shareholders.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1,504 banking outlets and 2,015 ATMs/recyclers as on 31 March 2024.

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