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Jammu and Kashmir Bank Ltd share Price Today

Company details

120.55
122.99
55.00
152.50
6M Return -5.19%
1Y Return 112.93%
Mkt Cap.(Cr) 13,306.68
Volume 2,867,813
Div Yield 1.77%
OI
-
OI Chg %
-
Volume 2,867,813

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Jammu & Kashmir Bank announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  •     Net profit for Q4FY24 at Rs 638.67 crore, a 34% increase over the previous financial year.
  •     Total deposits rose 10.44% YoY to Rs 1,34,774.89 crore.
  •     Net Advances of the Bank stood at Rs 93,762.51 crore in Q4FY24, rising up 14% YoY.
  •     Deposits grew by 5% sequentially (QoQ).
  •     Advances increased by 4.5% sequentially (QoQ).
  •     CASA Ratio at 50.51% as of March 31, 2024.

FY24 Financial Highlights:

  •     Net profit for FY24 at Rs 1,767 crore, a remarkable improvement of 48% over the previous high.
  •     Total revenue grew by 19% to cross the Rs 12,000 crore mark. 
  •     Net interest margin (NIM) stood at 3.92%.
  •     Yield on Advances rose annually to 9.54% from 8.91%.
  •     Return on Assets (RoA) reached quite healthy levels at 1.22%.
  •     Gross NPA (GNPA) brought down to 4.08%.
  •     Net NPA below 1% at 0.79%.
  •     Capital Adequacy Ratio at 15.33% as on March, 2024.
  •     Board of Directors recommended a final dividend of Rs 2.15 per share.

Bank’s MD & CEO Baldev Prakash said, "We are thrilled to report such stellar annual numbers, which reflect our unwavering commitment to excellence and prudent financial management. Our record-breaking annual profit and impressive financial metrics reflects the changing culture of the Bank where delivering streak of new records period after period is becoming a habit also underscores the Bank’s resilience and strategic prowess in navigating dynamic market conditions. More so, it reflects the dedication of our staff, the unwavering trust of our customers, and the continued support of our major shareholders i.e. UT Government.”

“Recommendation of a handsome dividend of Rs 2.15 per share of face value Re 1.00 for FY24 by the Board of Directors, is an acknowledgement of the trust and support of our shareholders and we are keen to share the rewards with our valuable shareholders. The success is the outcome of establishing synergies between the core elements of personnel, processes and technology; wherein capabilities have been fortified through planned transformation and change management", he said adding further, “Now with laid-out platform, enhanced capabilities and strengthened core, we are ready to scale newer heights while embracing the dynamically evolving industry practices.” 

He further stated, “Such stupendous success has been achieved while following principles of ethical business practices and maintaining highest standards of corporate governance.”

MD further stated, "Our strong asset quality metrics underscore our methodical approach to risk management and our unwavering focus on maintaining a healthy balance sheet. While exceeding our annual guidance, these results validate our efforts to build a resilient and sustainable banking franchise. With a Provision Coverage Ratio (PCR) at 91.58%, J&K Bank continues to demonstrate its commitment to prudential provisioning and risk mitigation.”

"Internally, our ESG efforts have led to the implementation of e-office across the organization, drastically reducing paper usage. However, remaining cognizant of environmental concerns, we continue to engage in sensible lending practices contributing to sustainability and enhanced operational efficiency."

On upgrading Bank’s Human Resource, he asserted, “We continue to invest in our workforce through HR initiatives focused on re-skilling and up-skilling, creating change champions prepared to meet future challenges. An online learning system titled e-Pathshala has been established, integrating knowledge acquisition into the career progression journeys of employees, thereby incentivizing personal and professional growth – an overall strengthening of employee value proposition the Bank offers to its existing and prospective staff members.”

Commenting briefly upon the Bank’s CSR Program, MD said, “The Bank also contributes to the overall social good through its Corporate Social Responsibility (CSR) programs. With an annual spend of around Rs 19 crore under our CSR programs during FY 2023-24, we have supported initiatives aimed at empowering marginalized communities, promoting eco-friendly measures, and providing assistance to persons with disabilities besides supporting programs focussed on skill development of youth. And on the back of improved profitability, such initiatives are bound to witness a further boost owing to the enhanced budgetary allocations.”

"As we celebrate this remarkable milestone, I would like to extend my heartfelt gratitude to our stakeholders and the communities we serve. Together, we will continue to grow, innovate and create sustainable value for all our stakeholders", he concluded.

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Jammu and Kashmir Bank Ltd shares SWOT Analysis

Strengths (12)

  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
  • Efficient in managing Assets to generate Profits - ROA improving since last 2 year

Weakness (3)

  • Red Flag: High Interest Payments Compared to Earnings
  • Declining Net Cash Flow : Companies not able to generate net cash
  • Weak Momentum: Price below Short, Medium and Long Term Averages

Opportunity (2)

  • Highest Recovery from 52 Week Low
  • Stock with Low PE (PE < = 10)

Threats (4)

  • Increasing Trend in Non-Core Income
  • Increase in NPA in Recent Results
  • Increase in Provisions in Recent Results

Resistance and support

R1 122.4
R2 123.9
R3 124.8
Pivot

121.46

S1 119.9
S2 119.0
S3 117.5
EMA SMA
123.7
127.5
127.7
118.2
124.1
129.0
133.3
123.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2021-06-22 41.74 5134052 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2021-06-22 41.74 5134052 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2021-06-21 35.61 4929048 NSE
Name Category Shares
CHIEF SECRETARY JAMMU AND KASHMIR GOVT PROMOTER 51.89%
FINANCE SECRETARY UT LADAKH PROMOTER 4.16%
SECRETARY FINANCE DEPTT JAMMU AND KASHMIR GOVT PROMOTER 3.35%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Jammu and Kashmir Bank Ltd Stocks COMPARISON

Financials( in Cr) Jammu and Kashmir Bank Ltd HDFC Bank Ltd ICICI Bank Ltd State Bank of India Axis Bank Ltd
Price 120.84 1,669.35 1,156.80 843.75 1,239.50
% Change -0.44 0.69 1.08 -1.04 1.05
Mcap Cr 13,306.68 1,268,190.34 812,343.83 753,014.14 382,580.35
Revenue TTM Cr 9,355.23 170,754.05 121,066.81 439,188.51 87,448.37
Net Profit TTM Cr 1,198.59 46,148.70 34,463.03 68,138.26 10,852.66
PE TTM 7.52 19.81 18.39 11.22 14.51
1 Year Return 112.93 4.06 25.31 48.33 28.36
ROCE 0.00 0.00 0.00 0.00 0.00
ROE 15.23 17.20 17.66 18.97 8.75
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 9,896.32 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,174.76 13,274.51
LAST 3M 100,774.38 -18,853.99
LAST 6M 177,467.27 -3,043.74
LAST 12M 289,801.20 99,689.80
The Jammu & Kashmir Bank Limited - Loss of Share Certificates

Jun 19, 2024 l NSE Announcement

The Jammu & Kashmir Bank Limited - Credit Rating

Jun 18, 2024 l NSE Announcement

The Jammu & Kashmir Bank Limited - Credit Rating

Jun 14, 2024 l NSE Announcement

Date Action Type Ratio
Aug 17, 2023 Dividend 50

Jammu and Kashmir Bank Ltd Information

Stock PE (TTM)
7.52
Promoter Holding
59.4%
Book Value
99.0884
ROE
15.23%
Description
  • Jammu And Kashmir Bank Limited (J & K), a state owned bank was incorporated in 01 October 1938 and commenced its business from 04 July 1939 at in Kashmir (India). As on 31 December 2020, the bank had a distribution network of 956 branches and 1382 ATMs across the country. It offers banking services under the three major divisions as Support services, Depository services and Third party services. The Bank operates mainly into four segments comprising of Treasury, Corporate/wholesale banking, Retail banking and other banking operations. According to the extended Central Laws of the State, Jammu & Kashmir Bank was defined as Government of Company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. RBI declared it as `A` Class Bank in the year of 1976. During the year 1993, the Bank made tie up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations. In the year of 1995, Banking Ombudsman Scheme was launched in June and a loan delivery system was introduced in April, which was used for large borrowers. During the year of 1998, J & K had introduced a new term deposit scheme under the title of Jana Priya Jamma Yojna carrying flexibility in the repayment schedule and in the same year the bank introduced Housing Loan and Education Loan Schemes. The Bank had entered into an agreement with IBA to connect its ATMs through a shared network in the year 1999. To offer Internet Banking and for its e-commerce initiatives, the bank made tie up with Infosys Technologies and also in the same year J&K Bank had entered into agreement with American Express to launch a co-branded credit card. J&K Bank had diversified into non-life insurance and depository business, apart from life Insurance and asset management business in the year of 2000. The Bank had launched Global Access Card (An International Debit Card) in association with Master Card International during the year of 2003. During the year 2004, J&K Bank agreed with ICICI Bank to share the ATM network. In the same year the bank had received the Asian Banking Award 2004 in Manila for its customer convenience programme. Signed MoU with Bajaj Tempo in the year of 2004. During the year 2005-06, J&K opened its branches in Chennai, Kanpur, Agra and Kolkata. Also in the same year introduced new product and services for rural finance. During the period of 2006-2007, the bank introduced various hi-tech and customer friendly products. The Bank and TATA Consultancy Services (TCS), Asia`s largest IT company signed a Memorandum of Understanding (MoU) to signal their intent to work together to create an IT blue-print for the bank. Going forward with its renewed business strategy, J & K Bank had opened its 564th branch at Lassipora, Pulwama, Srinagar in July of the year 2008. During the financial year 2013-14, 92 new branches were established; thereby taking the number of branches to 777 as on 31st March 2014, spread over 20 states and one union territory. During the financial year 2013-14, 187 ATMs, both onsite & offsite, were commissioned thereby taking the number of ATMs to 800 as on 31st March 2014. During the financial year 2014-15, 40 new branches were established; thereby taking the number of branches to 817 as on 31st March 2015, spread over 20 states and one union territory. During the financial year 2014-15, 85 ATMs were commissioned thereby taking the number of ATMs to 885 as on 31st March 2015. During the year under review, bank increased its stake in JKBFSL by 100% by contributing Rs1000 lacs in share capital of the company, increasing its paid up capital to 2000 lacs for the year ended 31st March 2015 as against Rs1000 lacs as on 31st March 2014. During the financial year 2015-16, 40 new branches were established; thereby taking the number of branches to 857 as on 31st March 2016, spread over 20 states and one union territory. During the financial year 2015-16, 121 ATMs were commissioned thereby taking the number of ATMs to 1006 as on 31st March 2016. During the financial year 2016-17, 8 new branches were established; thereby taking the number of branches to 865 as on 31st March 2017, spread over 20 states and one union territory. During the financial year 2016-17, 90 ATMs were commissioned thereby taking the number of ATMs to 1096 as on 31st March.2017. During financial year 2018-19, 36 new branches were established, thereby taking number of branches to 938 as on 31st March 2019, spread over 20 states and one union territory. During the financial year 2018-19, 96 ATMs were commissioned thereby taking the number of ATMs to1294 as on 31st March 2019. During FY 2018-19, the Bank launched a bouquet of new products such as Gold Loan Scheme, Merchant Overdraft scheme and deploying Direct Selling Agents (DSA) in ROI (Rest of India) for housing loans. During the financial year 2019-20, 15 new branches were established, thereby taking the number of branches to 955 (including IARBs)as on 31.03.2020, spread over 17 states and 4 union territories. During the financial year FY19-20, 3 EBUs/USBs were established, 66 ATMs were commissioned thereby taking the number of ATMs to 1354 as on 31.03.2020. During the FY2020, the bank has allotted an preferential allotment of 15,65,92,546 equity shares of Re. 1/- each fully paid up for cash to the Government of Jammu and Kashmir at the issue price of Rs 31.93 per equity share.

Registered Address

Moulana Azad Road, , Srinagar, Jammu & Kashmir, 190001

Tel : 91-194-2481930-35 Extn 1541-1547
Email : sharedept_gc:jkbmail.com
Website : http://www.jkbank.net
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 532209
NSE Code : J&KBANK
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE168A01041

FAQ’s on Jammu and Kashmir Bank Ltd Shares

You can buy Jammu and Kashmir Bank Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Jammu and Kashmir Bank Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 20, 2024 04:06 PM the closing price of Jammu and Kashmir Bank Ltd was Rs.120.84.

The latest PE ratio of Jammu and Kashmir Bank Ltd as of Jun 20, 2024 04:06 PM is 7.52

The latest PB ratio of Jammu and Kashmir Bank Ltd as of Jun 20, 2024 04:06 PM is 0.82

The 52-week high of Jammu and Kashmir Bank Ltd share price is Rs. 152.50 while the 52-week low is Rs. 55.00

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 20, 2024 04:06 PM, the market cap of Jammu and Kashmir Bank Ltd stood at Rs. 13,306.68.

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