AXISBANK · Regional Banks · INE238A01034
Analyst mean 1.60 · 40 analysts · 75% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is just -31% of trailing profit — the classic pattern where reported earnings are not backed by cash. This is the single most important thing to understand on this page.
Operating cash flow ₹-8,637 cr against trailing net profit ₹27,939 cr. When profit rises but cash does not follow, the questions are: are receivables ballooning, is revenue being recognised ahead of collection, or are costs being capitalised?
Net margin improved from 19.4% to 21.6% year-on-year — the business is keeping more of each rupee.
Quarter net margin 21.6% vs 19.4% four quarters earlier. Expansion from operating leverage is healthy; verify it is not a one-off gain.
Free cash flow is negative — the business consumes more than it generates once capex is paid. Fine if it is deliberate growth investment; a problem if it is structural.
Latest free cash flow ₹-10,797 cr, negative in 5 of 12 years. Check whether the burn funds expansion (dark stores, plants, ports) or merely sustains operations.
Other income is 85% of pre-tax profit — a large share of the profit comes from outside the core operating business.
Trailing other income ₹29,292 cr against pre-tax profit ₹34,275 cr. High other-income dependence means the headline profit is flattered by treasury, one-offs, or non-operating items rather than the core business.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31,601 | 32,162 | 32,452 | 32,348 | 32,310 | 33,709 | 34,171 | 35,542 |
| Expenses | 12,412 | 11,913 | 11,943 | 13,983 | 14,302 | 12,743 | 14,816 | 12,837 |
| Other Income | 7,603 | 6,797 | 7,506 | 8,053 | 7,460 | 7,189 | 6,972 | 7,671 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 9,177 | 9,007 | 9,895 | 8,180 | 7,496 | 9,371 | 7,247 | 10,161 |
| Net Profit | 7,436 | 6,779 | 7,509 | 6,279 | 5,567 | 7,060 | 7,642 | 7,670 |
| EPS | 23.93 | 21.78 | 24.13 | 20.13 | 17.82 | 22.58 | 24.46 | 24.54 |
| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 613 | 614 | 615 | 617 | 619 | 622 |
| Reserves | 102,981 | 117,647 | 129,166 | 156,406 | 186,616 | 214,414 |
| Borrowings | — | — | — | — | — | — |
| Fixed Assets | 4,501 | 4,753 | 5,000 | 5,860 | 6,661 | 6,776 |
| CWIP | 118 | 215 | 142 | 267 | 121 | 269 |
| Investments | 225,336 | 274,608 | 288,095 | 332,354 | 396,685 | 446,422 |
| Total Assets | 1,001,005 | 1,195,529 | 1,344,418 | 1,518,239 | 1,656,963 | 1,946,050 |