Announcement • Jul 02
CSB Bank Limited to Report Q1, 2027 Results on Jul 22, 2026 CSB Bank Limited announced that they will report Q1, 2027 results on Jul 22, 2026 Reported Earnings • May 06
Full year 2026 earnings released: EPS: ₹36.50 (vs ₹34.23 in FY 2025) Full year 2026 results: EPS: ₹36.50 (up from ₹34.23 in FY 2025). Revenue: ₹26.6b (up 14% from FY 2025). Net income: ₹6.33b (up 6.6% from FY 2025). Profit margin: 24% (down from 25% in FY 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Announcement • Apr 06
CSB Bank Limited to Report Q4, 2026 Results on May 04, 2026 CSB Bank Limited announced that they will report Q4, 2026 results on May 04, 2026 New Risk • Mar 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to ₹376. The fair value is estimated to be ₹482, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to decline by 0.09% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Reported Earnings • Jan 29
Third quarter 2026 earnings released: EPS: ₹8.80 (vs ₹8.74 in 3Q 2025) Third quarter 2026 results: EPS: ₹8.80 (up from ₹8.74 in 3Q 2025). Revenue: ₹6.43b (up 11% from 3Q 2025). Net income: ₹1.53b (flat on 3Q 2025). Profit margin: 24% (down from 26% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 05
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 45% to ₹560. The fair value is estimated to be ₹448, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 4.3%. Revenue is forecast to decline by 4.4% in 2 years. Earnings are forecast to grow by 65% in the next 2 years. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹486, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Banks industry in India. Total returns to shareholders of 93% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹444 per share. Announcement • Dec 29
CSB Bank Limited to Report Q3, 2026 Results on Jan 28, 2026 CSB Bank Limited announced that they will report Q3, 2026 results at 4:00 PM, Indian Standard Time on Jan 28, 2026 Price Target Changed • Dec 22
Price target increased by 11% to ₹437 Up from ₹395, the current price target is an average from 3 analysts. New target price is 5.3% above last closing price of ₹415. Stock is up 32% over the past year. The company is forecast to post earnings per share of ₹37.11 for next year compared to ₹34.23 last year. Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹9.24 (vs ₹7.98 in 2Q 2025) Second quarter 2026 results: EPS: ₹9.24 (up from ₹7.98 in 2Q 2025). Revenue: ₹7.09b (up 28% from 2Q 2025). Net income: ₹1.60b (up 16% from 2Q 2025). Profit margin: 23% (down from 25% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 13% p.a. on average during the next 2 years, while revenues in the Banks industry in India are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 20
CSB Bank Limited Announces Cessation of Mr. Madhavan Menon as Non-Executive Non-Independent Director, Effective October 20, 2025 CSB Bank Limited announced that Mr. Madhavan Menon has completed his tenure of eight years as Non- Executive Non-Independent Director of the Bank on October 19, 2025, in terms of Section 10A(2A)(i) of the Banking Regulation Act, 1949, read with the Reserve Bank of India Guidelines on `Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board' dated April 26, 2021. Consequently, Mr. Madhavan Menon ceased to be a Non-Executive Non-Independent Director of the Bank with effect from October 20, 2025. Announcement • Oct 06
CSB Bank Limited to Report Q2, 2026 Results on Nov 05, 2025 CSB Bank Limited announced that they will report Q2, 2026 results on Nov 05, 2025 Price Target Changed • Aug 15
Price target decreased by 7.1% to ₹395 Down from ₹425, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₹377. Stock is up 18% over the past year. The company is forecast to post earnings per share of ₹36.90 for next year compared to ₹34.23 last year. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹6.84 (vs ₹6.53 in 1Q 2025) First quarter 2026 results: EPS: ₹6.84 (up from ₹6.53 in 1Q 2025). Revenue: ₹5.63b (up 9.7% from 1Q 2025). Net income: ₹1.19b (up 4.7% from 1Q 2025). Profit margin: 21% (down from 22% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 9.5% p.a. on average during the next 2 years, while revenues in the Banks industry in India are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 28
CSB Bank Limited to Report Q1, 2026 Results on Aug 13, 2025 CSB Bank Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Announcement • Jul 23
CSB Bank Limited, Annual General Meeting, Aug 26, 2025 CSB Bank Limited, Annual General Meeting, Aug 26, 2025, at 11:00 Indian Standard Time. Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Biswamohan Mahapatra was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 30
Full year 2025 earnings released: EPS: ₹34.23 (vs ₹32.67 in FY 2024) Full year 2025 results: EPS: ₹34.23 (up from ₹32.67 in FY 2024). Revenue: ₹23.4b (up 14% from FY 2024). Net income: ₹5.94b (up 4.8% from FY 2024). Profit margin: 25% (down from 28% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 5.4% p.a. on average during the next 2 years compared to a 1.4% decline forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 16
CSB Bank Limited Appoints Biswamohan Mahapatra as an Independent Director, Effective April 16, 2025 The Board of Directors of the CSB Bank Limited, in their meeting held on April 16, 2025, on receipt of approval of members through resolution passed by means of Postal Ballot dated April 10, 2025, and pursuant to the recommendation made by the Nomination & Remuneration Committee, appointed Mr. Biswamohan Mahapatra as an Independent Director of the Bank, with effect from April 16, 2025 up to August 2, 2029 (both dates inclusive), not liable to retire by rotation. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹342, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Banks industry in India. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹395 per share. Announcement • Mar 28
CSB Bank Limited to Report Q4, 2025 Results on Apr 28, 2025 CSB Bank Limited announced that they will report Q4, 2025 results on Apr 28, 2025 Buy Or Sell Opportunity • Feb 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to ₹289. The fair value is estimated to be ₹362, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.4%. Revenue is forecast to decline by 7.2% in 2 years. Earnings are forecast to grow by 45% in the next 2 years. Announcement • Feb 08
CSB Bank Limited Approves Appointment of Narasimha Raju Narasappa Doddahosahalli as Independent Director CSB Bank Limited through Postal Ballot Remote e-Voting on February 6, 2025, approved the appointment of Mr. Narasimha Raju Narasappa Doddahosahalli, as an Independent Director of the Bank. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: ₹8.74 (vs ₹8.64 in 3Q 2024) Third quarter 2025 results: EPS: ₹8.74 (up from ₹8.64 in 3Q 2024). Revenue: ₹5.78b (up 13% from 3Q 2024). Net income: ₹1.52b (up 1.1% from 3Q 2024). Profit margin: 26% (down from 29% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 5% per year. Buy Or Sell Opportunity • Jan 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.8% to ₹300. The fair value is estimated to be ₹385, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to decline by 8.1% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Buy Or Sell Opportunity • Jan 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.4% to ₹307. The fair value is estimated to be ₹385, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to decline by 8.1% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Announcement • Dec 31
CSB Bank Limited to Report Q3, 2025 Results on Jan 28, 2025 CSB Bank Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Reported Earnings • Oct 25
Second quarter 2025 earnings released: EPS: ₹7.98 (vs ₹7.68 in 2Q 2024) Second quarter 2025 results: EPS: ₹7.98 (up from ₹7.68 in 2Q 2024). Revenue: ₹5.53b (up 12% from 2Q 2024). Net income: ₹1.38b (up 3.9% from 2Q 2024). Profit margin: 25% (down from 27% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 29
CSB Bank Limited Announces Cessation of Bhama Krishnamurthy as Non-Executive Chairperson and Her Second Term as Non-Executive Independent Director CSB Bank Limited announced that Ms. Bhama Krishnamurthy has completed her tenure of appointment as Non-Executive Chairperson and her second term as Non-Executive Independent Director of the Bank on September 28, 2024, and accordingly, Ms. Bhama Krishnamurthy ceased to hold both positions with effect from September 29, 2024. Announcement • Aug 30
CSB Bank Limited Appoints Mr. Chinmay Adhikari as Chief Human Resources Officer of the Bank with Effect from September 6, 2024 CSB Bank Limited announced that on the recommendation of the Nomination & Remuneration Committee ("NRC"), the Board of Directors of the Bank (the "Board"), through resolution passed by circulation August 30, 2024, have approved the appointment of Mr. Chinmay Adhikari as `Chief Human Resources Officer' of the Bank with effect from September 6, 2024. Mr. Chinmay Adhikari will form part of the Senior Management of the Bank as per Regulation 16(1)(d) of the SEBI Listing Regulations, with effect from the date of his appointment. Mr. Chinmay Adhikari is a senior HR professional with more than 24 years of experience across Banking, Financial Services and Insurance. Mr. Chinmay Adhikari is currently CHRO of Universal Sompo General Insurance, Mumbai, spearheading its transformational journey on Cultural Competence, Employee productivity, Talent management, HR systems - processes, Employee wellbeing, and Learning and Development. Prior to the current assignment, Mr. Chinmay was associated with Yes Bank Ltd. as National Head & President - Human Capital Management directing and executing the full range of HR functions for key business units of SME, Retail & Commercial Assets, Credit Cards and Bancassurance. His prior work experience includes assignments with HDFC Bank, L&T Finance, and WNS Global Services. His areas of expertise include Performance Management, Leadership Development, Total Rewards & Compensation and People Operations. Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: ₹6.53 (vs ₹7.62 in 1Q 2024) First quarter 2025 results: EPS: ₹6.53 (down from ₹7.62 in 1Q 2024). Revenue: ₹5.14b (up 6.8% from 1Q 2024). Net income: ₹1.13b (down 14% from 1Q 2024). Profit margin: 22% (down from 28% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Jul 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Deepak Maheshwari was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 22
CSB Bank Limited, Annual General Meeting, Aug 23, 2024 CSB Bank Limited, Annual General Meeting, Aug 23, 2024, at 11:00 Indian Standard Time. Announcement • Jul 04
CSB Bank Limited to Report Q1, 2025 Results on Jul 29, 2024 CSB Bank Limited announced that they will report Q1, 2025 results on Jul 29, 2024 Buy Or Sell Opportunity • Jul 01
Now 27% overvalued The stock has been flat over the last 90 days, currently trading at ₹375. The fair value is estimated to be ₹296, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 28%. Announcement • Jun 29
CSB Bank Shares Surge 7% as FIH Mauritius Reportedly Offloads Stake via Block Deal Shares of Kerala-based CSB Bank Limited (NSEI:CSBBANK) rose 7% in the early trading session on BSE to INR 382.10, after investment firm FIH Mauritius likely sold off a 9.6% stake in the bank through a block deal According to the term sheet issued by the banker IIFL, FIH Mauritius was expected to sell 16.8 million shares in the bank at a floor price of INR 352.40 per share. The floor price represents a 1% discount to June 26, 2024’s closing price of INR 355.95. FIH held a 49.72% stake in the bank as of March 31, 2024, which will be reduced to nearly 40% post the stake sale. Shares of CSB Bank have declined 11% so far this year compared to the Sensex's gain of approximately 9%. Overall, the public held 47.66% stake in the company as of March 2024 while 49.72% stake was held by the promoter and the promoter group. In December last year, the promoter received approval from the Reserve Bank of India (RBI) to retain a 26% stake in the bank instead of the 15% previously advised by the central bank. Accordingly, FIH Mauritius Investments must reduce its shareholding to 26% within 15 years from the date of the completion of investments, which was in 2018. Buy Or Sell Opportunity • Jun 25
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at ₹356. The fair value is estimated to be ₹296, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 28%. Announcement • Jun 08
Csb Bank Limited Announces Cessation of Sunil Srivastav as Independent Director CSB Bank Limited informed that Mr. Sunil Srivastav (DIN: 00237561) has completed his term as an Independent Director and consequently ceased to be a Director of the Bank with effect from the close of office hours on June 7, 2024. Buy Or Sell Opportunity • May 09
Now 20% overvalued Over the last 90 days, the stock has fallen 7.4% to ₹355. The fair value is estimated to be ₹296, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 28%. Announcement • May 03
CSB Bank Limited Announces Reconstitution of Stakeholders Relationship Committee CSB Bank Limited announced that the Board of Directors of the Bank, by resolution passed by circulation on May 2, 2024, have reconstituted the Stakeholders Relationship Committee of the Board as detailed below, with effect from May 2, 2024. Stakeholders Relationship Committee: Ms. Renu Kohli as Chairperson and Mr. Pralay Mondal, MD & CEO, Mr. Madhavan Menon, Mr. Sudhin Choksey and Mr. Biswamohan Mahapatra as members. Reported Earnings • Apr 27
Full year 2024 earnings released: EPS: ₹32.67 (vs ₹31.55 in FY 2023) Full year 2024 results: EPS: ₹32.67 (up from ₹31.55 in FY 2023). Revenue: ₹20.4b (up 22% from FY 2023). Net income: ₹5.67b (up 3.6% from FY 2023). Profit margin: 28% (down from 33% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 02
CSB Bank Limited to Report Q4, 2024 Results on Apr 26, 2024 CSB Bank Limited announced that they will report Q4, 2024 results on Apr 26, 2024 Buy Or Sell Opportunity • Apr 02
Now 23% overvalued Over the last 90 days, the stock has fallen 7.3% to ₹378. The fair value is estimated to be ₹307, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 37%. Announcement • Mar 15
CSB Bank Limited Announces Reconstitution of the Committees of the Board CSB Bank Limited announced that the Board of Directors of the Bank, in their meeting held on March 15, 2024, have considered and approved reconstitution of the Committees of the Board, with effect from March 16, 2024. Nomination and Remuneration Committee - Shri. Sharad Kumar Saxena as Chairperson; Shri. Sumit Maheshwari as Member; Smt. Bhama Krishnamurthy Member; Smt. Renu Kohli as Member; Smt. Sharmila Abhay Karve as Member; and Shri. Biswamohan Mahapatra as Member. Risk Management Committee - Shri. Biswamohan Mahapatra as Chairperson; Shri. Pralay Mondal MD & CEO as Member; Shri. Madhavan Menon as Member; Shri. Sudhin Choksey as Member; Smt. Bhama Krishnamurthy as Member; Smt. Renu Kohli as Member; and Shri. Sharad Kumar Saxena as Member. Corporate Social Responsibility Committee - Smt. Bhama Krishnamurthy as Chairperson; Shri. Pralay Mondal MD & CEO as Member; Shri. Sumit Maheshwari as Member; Smt. Renu Kohli as Member; and Shri. Sudhin Choksey as Member. Reported Earnings • Jan 31
Third quarter 2024 earnings released: EPS: ₹8.64 (vs ₹8.99 in 3Q 2023) Third quarter 2024 results: EPS: ₹8.64 (down from ₹8.99 in 3Q 2023). Revenue: ₹5.05b (up 11% from 3Q 2023). Net income: ₹1.50b (down 3.8% from 3Q 2023). Profit margin: 30% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jan 15
Csb Bank Limited Announces Change in Management CSB Bank Limited announced that, based on the recommendation of the Nomination & Remuneration Committee the Board of Directors of the Bank, through resolution passed by circulation on January 15, 2023, have approved the appointment of Mr. Manish Modi as `Head - Wholesale Banking' with effect from January 18, 2024. Mr. Manish Modi will form part of the Senior Management of the Bank as per Regulation 16(1)(d) of the SEBI Listing Regulations, with effect from the date of appointment. Ms. Runa Das, who currently holds the position of 'Head--Wholesale Banking', will cease to be 'Head--Wholesale Banking' with effect from January 18, 2024. Accordingly, Ms. Runa Das will also cease to be part of senior management due to the change in her designation, and will report to Mr. Manish Modi as per the change in the reporting structure with effect from the said date. Mr. Manish Modi holds bachelor's degree in Mechanical Engineering from REC, Bhopal, and Post Graduate Diploma in Management (PGDM) from IIM, Lucknow. Mr. Manish Modi is an accomplished corporate banking professional with more than 28 years of experience spread across large corporate & mid-market business, SME business, syndication business, project finance business and MNC services, financial services and Treasury business. Prior to joining CSB Bank, Mr. Manish Modi was the Head - Corporate Banking at IndusInd Bank Limited, responsible for overall strategy of large and mid-corporates vertical with the right balance of growth, profitability, and portfolio quality. Prior to that, he had a successful stint at ABN Amro Bank and ICICI Bank . He was earlier associated with Engineers India Limited as a design engineer. Announcement • Dec 14
CSB Bank Limited Announces Executive Changes CSB Bank Limited announced that Pursuant to the recommendation of the Nomination & Remuneration Committee and Risk Management Committee of the Board, the Board has approved the appointment of Mr. Satyendra Sharma as the Chief Risk Officer of the Bank with effect from January 8, 2024. The said appointment is for a fixed tenure of minimum three (3) years, and Mr. Satyendra Sharma will form part of the Senior Management of the Bank with effect from the said date. With the appointment of Mr. Satyendra Sharma as Chief Risk Officer with effect from January 8, 2024, Mr. Ragesh M, who is currently holding the position of Chief Risk Officer (Interim), shall cease to hold the said position with effect from the close of office hours on January 6, 2024. Mr. Satyendra Sharma is a graduate in Engineering from Rajasthan Agriculture University, Bikaner and post graduate in Management (MBA) from Indira Gandhi National Open University, New Delhi. He also holds Post Graduate Diploma in Banking & Finance and is also is a certified Financial Risk Manager. Mr. Satyendra Sharma is an accomplished banking professional with over 29 years of banking experience in different domains at various levels and currently serves the role as DGM & Head NRI Business, Foreign Exchange and Trade Finance at Indian Bank. He has over 11 years of experience in core risk management functions at Indian Bank and 4 years (on deputation) in the Department of Financial Services, Ministry of Finance, Government of India with the core responsibility of monitoring and maintaining capital adequacy in public sector banks. As part of the part of Banking and Financial Services industry, Mr. Satyendra Sharma had played transforming roles where he had opportunity of enhancing his professional skills and experience in diverse areas of Business, Credit and Risk. He comes with a very strong background in Risk from desk level to AGM. He has worked extensively in ALM, Basel 2 and 3 implementations & capital assessment model implementations. In his new role as CRO for the Bank, Mr. Satyendra Sharma will be responsible for overseeing the various risk exposures of the bank (Credit Risk, Market Risk, Liquidity Risk, Operational Risk, Cyber Security Risk etc) and formulation of policies and procedures for Internal Capital Adequacy Assessment Process, Stress Testing methodology, Risk Appetite Framework and Asset Liability Management. Price Target Changed • Nov 28
Price target increased by 15% to ₹413 Up from ₹360, the current price target is an average from 2 analysts. New target price is 5.1% above last closing price of ₹393. Stock is up 78% over the past year. The company posted earnings per share of ₹31.55 last year. Price Target Changed • Nov 03
Price target increased by 13% to ₹385 Up from ₹342, the current price target is an average from 3 analysts. New target price is 16% above last closing price of ₹332. Stock is up 45% over the past year. The company posted earnings per share of ₹31.55 last year. Reported Earnings • Oct 21
Second quarter 2024 earnings released: EPS: ₹7.68 (vs ₹6.95 in 2Q 2023) Second quarter 2024 results: EPS: ₹7.68 (up from ₹6.95 in 2Q 2023). Revenue: ₹4.95b (up 33% from 2Q 2023). Net income: ₹1.33b (up 11% from 2Q 2023). Profit margin: 27% (down from 32% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Oct 05
CSB Bank Limited to Report Q2, 2024 Results on Oct 20, 2023 CSB Bank Limited announced that they will report Q2, 2024 results on Oct 20, 2023 Announcement • Sep 26
CSB Bank Limited Announces Change in Management CSB Bank Limited at its board meeting, held on September 25, 2023, approved that based on the recommendation of the Nomination & Remuneration Committee and Risk Management Committee of the Board, the Board of Directors of the Bank, have appointed Mr. Ragesh M., who is currently holding the position of Head - Market Risk, as the Chief Risk Officer (interim) with effect from October 1, 2023, in place of Mr. Arvind K. Sharma, whose extended term as the Chief Risk Officer shall end at the close of office hours on September 30, 2023. Mr. Ragesh M. will hold the position of Chief Risk Officer (interim) simultaneously with the position of Head - Market Risk till the date of joining of a new Chief Risk Officer in the Bank or January 31, 2024, whichever is earlier. Mr. Ragesh M. will hold the position of Chief Risk Officer (interim) till the date of joining of new Chief Risk Officer in the Bank or January 31, 2024, whichever is earlier. Mr. Ragesh M joined the Bank as a probationary officer on October 7, 1998, and is currently heading Market Risk in the Bank. Before moving to his current role of Head - Market Risk, he had served as Head - Wholesale Credit for 3 years. He was heading Strategy Department at the time of the listing of shares of the Bank in December 2019. Prior to his 2-year stint in strategy, he had spent 16 years in finance and accounts department at various grades, from Asst. Manager to Asst. General Manager. Mr. Ragesh M is a graduate in commerce and post graduate in Management from University of Calicut and is a Fellow member of the Institute of Cost Accountants of India. He holds Financial Risk Manager (FRM) certification of Global Association of Risk Professionals (GARP). He is also a Certified Associate of Indian Institute of Bankers (CAIIB) and holds Diploma in Business Finance from The Institute of Chartered Financial Analysts of India (ICFAI), Diploma in International Banking & Finance from Indian Institute of Banking and Finance (IIBF), Executive Diploma in Business Valuation from The Institute of Cost Accountants of India, Certified Credit Officer certification from Indian Institute of Banking and Finance (IIBF), Certificate in Commercial Credit certification from by Moody's Analytics, Certified Credit Research Analyst Certification from Association of International Wealth Management of India (AIWMI) and Certificate in Project Finance Certification from Equalifi. He has successfully completed Executive Development Programme (EDP) in Financial Analytics and Executive Development Programme (EDP) in Leadership and Change Management from XLRI Jamshedpur. Announcement • Aug 26
CSB Bank Limited Approves Executive Appointments, Effective August 28, 2023 CSB Bank Limited announced that based on the recommendation of the Nomination & Remuneration Committee (NRC), the board of directors of the Bank in their meeting held on August 26, 2023, have appointed Mr. Punit Saruparia as the Head - Internal Audit and Mr. Alok Singh as the Head- Treasury of the bank with effect from August 28, 2023. The appointment of Mr. Punit Saruparia is made in accordance with the recommendations made by the Audit Committee of the Board (ACB) also in terms of Regulation 18(3) read with Part C of Schedule II of SEBI Listing Regulations. Mr. Punit Saruparia and Mr. Alok Singh will form part of the Senior Management Personnel of the Bank with effect from August 28, 2023. Mr. Punit Saruparia has more than 20 years of experience in banking and financial Services sector in various roles where he had the opportunity of enhancing his professional skills and experience in diverse areas of operations, credit, technology implementation, and internal audit. He has a strong understanding of core banking functions, processes, operations, and systems. Prior to his appointment at CSB Bank, he was employed as `Chief Internal Auditor at Airtel Payments Bank. He has also worked as Vice President -Internal Audit at IndusInd Bank from 2008 to 2019. Mr. Alok Singh has over 25 years of experience in treasury across various functions at State Bank of India in roles spanning domestic and international locations. He had managed multiple verticals in treasury and was instrumental in setting up treasury desks across India, UK, and USA. He was in charge of investment management, including US Corp, UST, US Munis, and US Agency bonds, confirmation, and settlement of trades, and reconciliation of custodial accounts. Reported Earnings • Jul 21
First quarter 2024 earnings released: EPS: ₹7.62 (vs ₹6.60 in 1Q 2023) First quarter 2024 results: EPS: ₹7.62 (up from ₹6.60 in 1Q 2023). Revenue: ₹4.81b (up 32% from 1Q 2023). Net income: ₹1.32b (up 16% from 1Q 2023). Profit margin: 28% (down from 32% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
CSB Bank Limited to Report Q1, 2024 Results on Jul 20, 2023 CSB Bank Limited announced that they will report Q1, 2024 results at 12:08 PM, Indian Standard Time on Jul 20, 2023 Announcement • May 11
CSB Bank Limited Announces Change of CFO CSB Bank Limited at its board meeting held on May 10, 2023 appointed Mr. Satish Gundewar as Chief Financial Officer ("CFO") and as Key Managerial Personnel of the Bank effective from June 5, 2023. Mr. B.K. Divakara will step down from the position of CFO with effect from the close of office hours on June 4, 2023, as part of the change in the Bank's management structure and cease to be KMP of the Bank with effect from the said date, as part of bank's management structure and cease to be Key Managerial Personnel of the Bank with effect from the said date. Mr. Satish Gundewar has over 28 years of experience in the areas of finance, taxation, strategic planning, portfolio management, risk management and treasury. He has rich experience in financial reporting, financial control, budgeting and tracking financial performance against targets at an overall business level and at the most granular level. Mr. Satish Gundewar is currently the Chief Financial Officer of DCB Bank Ltd. Prior to this, he served as President & Head-Retail Business Finance at YES Bank Ltd. for 4 years. He was earlier associated with Standard Chartered Bank for a period of 14 years in various capacities in India and Nepal, and had worked with SBI Capital Markets Limited for a period of 9 years. Mr. Satish Gundewar is a member of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He is a graduate in Commerce from University of Mumbai. Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: ₹3,155 (vs ₹26.43 in FY 2022) Full year 2023 results: EPS: ₹3,155 (up from ₹26.43 in FY 2022). Revenue: ₹16.8b (up 19% from FY 2022). Net income: ₹5.47b (up 19% from FY 2022). Profit margin: 33% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 164% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: ₹8.99 (vs ₹8.55 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.99 (up from ₹8.55 in 3Q 2022). Revenue: ₹4.55b (up 12% from 3Q 2022). Net income: ₹1.56b (up 5.2% from 3Q 2022). Profit margin: 34% (down from 37% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Jan 05
CSB Bank Limited to Report Q3, 2023 Results on Jan 30, 2023 CSB Bank Limited announced that they will report Q3, 2023 results on Jan 30, 2023 Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹259, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 15x in the Banks industry in India. Total returns to shareholders of 5.5% over the past three years. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD, CEO & Director Pralay Mondal was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: ₹6.95 (vs ₹6.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹6.95 (up from ₹6.83 in 2Q 2022). Revenue: ₹3.74b (up 7.6% from 2Q 2022). Net income: ₹1.21b (up 1.7% from 2Q 2022). Profit margin: 32% (down from 34% in 2Q 2022). The decrease in margin was driven by higher expenses. Price Target Changed • Oct 11
Price target decreased to ₹283 Down from ₹307, the current price target is an average from 3 analysts. New target price is 21% above last closing price of ₹235. Stock is down 25% over the past year. The company posted earnings per share of ₹26.43 last year. Announcement • Oct 08
CSB Bank Limited to Report Q2, 2023 Results on Oct 21, 2022 CSB Bank Limited announced that they will report Q2, 2023 results on Oct 21, 2022 Board Change • Sep 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Interim MD, CEO & Director Pralay Mondal was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 02
CSB Bank Limited, Annual General Meeting, Sep 27, 2022 CSB Bank Limited, Annual General Meeting, Sep 27, 2022, at 11:00 Indian Standard Time. Announcement • Jul 22
CSB Bank Limited Announces Reconstitution Of Committees Of The Board Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Regulations), the Board of Directors of the Bank in its meeting held on July 21, 2022, reconstituted the Committees of the Board with the members as detailed below, with effect from July 22, 2022: Audit Committee: Smt. Sharmila Abhay Karve, Chairperson, Non-Executive & Independent. Shri. Madhavan Menon, Member, Non-Executive & Non-Independent. Shri.Sunil Srivastav, Member, Non-Executive & Independent. Shri. Sharad Kumar Saxena, Member, Non-Executive & Independent. Nomination & Remuneration Committee: Smt. Bhama Krishnamurthy, Chairperson, Non-Executive & Independent. Shri. Madhavan Menon, Member, Non-Executive & Non-Independent. Smt. Sharmila Abhay Karve, Member, Non-Executive & Independent. Shri. Sharad Kumar Saxena, Member, Non-Executive & Independent. Risk Management Committee: Shri. Sudhin Choksey, Chairperson, Non-Executive & Independent. Shri. Pralay Mondal, Member, Executive & Non-Independent. MD & CEO (Interim) Shri. Madhavan Menon, Member, Non-Executive & Non-Independent. Shri. Sharad Kumar Saxena, Member, Non-Executive & Independent. Smt. Bhama Krishnamurthy, Member, Non-Executive & Independent. Reported Earnings • Jul 22
First quarter 2023 earnings released: EPS: ₹6.60 (vs ₹3.52 in 1Q 2022) First quarter 2023 results: EPS: ₹6.60 (up from ₹3.52 in 1Q 2022). Revenue: ₹3.64b (up 48% from 1Q 2022). Net income: ₹1.15b (up 88% from 1Q 2022). Profit margin: 32% (up from 25% in 1Q 2022). The increase in margin was driven by higher revenue. Announcement • Jul 13
CSB Bank Limited to Report Q1, 2023 Results on Jul 21, 2022 CSB Bank Limited announced that they will report Q1, 2023 results on Jul 21, 2022 Announcement • Jun 30
CSB Bank Limited Announces Cessation of Madhavan Aravamuthan as Independent Director and Part-Time Chairman CSB Bank Limited announced that Mr. Madhavan Aravamuthan, vide his letter dated June 28, 2022, has informed the Bank about his decision to step down from the position of Independent director of the Bank with effect from the close of business hours of June 28, 2022 as his term of appointment as Part-time Chairman and first term as Independent Director of the Bank ended on the same day. Price Target Changed • May 20
Price target decreased to ₹343 Down from ₹387, the current price target is provided by 1 analyst. New target price is 83% above last closing price of ₹188. Stock is down 40% over the past year. The company posted earnings per share of ₹26.43 last year. Reported Earnings • May 08
Full year 2022 earnings released: EPS: ₹26.43 (vs ₹12.59 in FY 2021) Full year 2022 results: EPS: ₹26.43 (up from ₹12.59 in FY 2021). Revenue: ₹14.0b (up 25% from FY 2021). Net income: ₹4.58b (up 110% from FY 2021). Profit margin: 33% (up from 20% in FY 2021). The increase in margin was driven by higher revenue. Announcement • Feb 18
CSB Bank Limited Appoints Mr. Pralay Mondal as the Deputy Managing Director of the Bank CSB Bank Limited appointed of Mr. Pralay Mondal as the `Deputy Managing Director' of the Bank subject to the approval of Reserve Bank of India (RBI) along with the disclosures as required under Regulation 30 of the SEBI Regulations read with SEBI Circular no. CIR/CFD/CMD/4/2015 datedSeptember 09, 2015. Reported Earnings • Jan 24
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹8.55 (up from ₹3.06 in 3Q 2021). Revenue: ₹4.06b (up 58% from 3Q 2021). Net income: ₹1.48b (up 180% from 3Q 2021). Profit margin: 37% (up from 21% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Oct 26
Second quarter 2022 earnings released: EPS ₹6.83 (vs ₹3.97 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹3.47b (up 41% from 2Q 2021). Net income: ₹1.19b (up 72% from 2Q 2021). Profit margin: 34% (up from 28% in 2Q 2021). Reported Earnings • Jul 23
First quarter 2022 earnings released: EPS ₹3.52 (vs ₹3.08 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: ₹2.46b (up 22% from 1Q 2021). Net income: ₹610.0m (up 14% from 1Q 2021). Profit margin: 25% (down from 27% in 1Q 2021). The decrease in margin was driven by higher expenses. Recent Insider Transactions • May 27
Insider recently sold ₹1.1m worth of stock On the 20th of May, Ragesh Melepuram sold around 4k shares on-market at roughly ₹323 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹352k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 17% share price gain to ₹321, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 24x in the Banks industry in India. Total returns to shareholders of 179% over the past year. Reported Earnings • May 10
Full year 2021 earnings released: EPS ₹12.59 (vs ₹0.89 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹10.2b (up 87% from FY 2020). Net income: ₹2.18b (up ₹2.06b from FY 2020). Profit margin: 21% (up from 2.3% in FY 2020). The increase in margin was driven by higher revenue. Executive Departure • Apr 27
Non-Executive Independent Director has left the company On the 19th of April, Syed Nagoor Jinnah's tenure as Non-Executive Independent Director ended after 2.1 years in the role. We don't have any record of a personal shareholding under Syed Nagoor's name. A total of 3 executives have left over the last 12 months. Price Target Changed • Mar 21
Price target increased to ₹315 Up from ₹290, the current price target is provided by 1 analyst. New target price is 29% above last closing price of ₹244. Stock is up 114% over the past year. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₹259, the stock is trading at a trailing P/E ratio of 38.8x, up from the previous P/E ratio of 33.7x. This compares to an average P/E of 28x in the Banks industry in India. Total returns to shareholders over the past year are 61%. Is New 90 Day High Low • Mar 05
New 90-day high: ₹259 The company is up 15% from its price of ₹225 on 04 December 2020. The Indian market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 19% over the same period. Reported Earnings • Jan 20
Third quarter 2021 earnings released: EPS ₹3.06 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹2.56b (up 44% from 3Q 2020). Net income: ₹530.5m (up 89% from 3Q 2020). Profit margin: 21% (up from 16% in 3Q 2020). The increase in margin was driven by higher revenue. Announcement • Jan 20
CSB Bank Limited Announces Management Changes CSB Bank Limited announced that at its board meeting held on January 19, 2021, the Board reconstituted the Remuneration Committee of the Board with members as detailed below: Ms. Bhama Krishnamurthy (Chairperson), Mr. A Madhavan, Member, Mr. Madhavan Menon, Member and Mr. Sumit Maheshwari, Member. Announcement • Jan 06
CSB Bank Limited to Report Q3, 2021 Results on Jan 19, 2021 CSB Bank Limited announced that they will report Q3, 2021 results on Jan 19, 2021 Is New 90 Day High Low • Dec 15
New 90-day low: ₹214 The company is down 6.0% from its price of ₹227 on 16 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 33% over the same period. Recent Insider Transactions • Dec 07
Non-Executive Director recently bought ₹795k worth of stock On the 4th of December, Madhavan Menon bought around 4k shares on-market at roughly ₹227 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Nov 02
New 90-day high: ₹236 The company is up 24% from its price of ₹191 on 04 August 2020. The Indian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 11% over the same period. Announcement • Oct 10
CSB Bank Limited to Report Q2, 2021 Results on Oct 19, 2020 CSB Bank Limited announced that they will report Q2, 2021 results on Oct 19, 2020 
