NSE: CSBBANK · BSE: 542867 · ISIN INE679A01013
CSB Bank Limited stock analysis
CSB Bank Limited ranks #2785 in the TickerSutra evidence-ranked universe with a score of 44/100 and 95% data confidence. The latest captured fundamentals show ROCE of 7.0%, quarterly sales growth of 23.7% and quarterly profit growth of 26.5%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.44×
- 24.8% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,038cr | ₹405cr | ₹458cr | 20.0% |
| 2023 | ₹2,320cr | ₹461cr | ₹547cr | 20.0% |
| 2024 | ₹2,928cr | ₹233cr | ₹567cr | 8.0% |
| 2025 | ₹3,597cr | ₹-96cr | ₹594cr | -3.0% |
| 2026 | ₹4,505cr | ₹-218cr | ₹633cr | -5.0% |
| TTM | ₹4,752cr | ₹-267cr | ₹665cr | -6.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
RoutineChange in Directors/KMP/SMP/Auditor/RTANSE · 25 Sept 2026 · Structured filingCSB BANK LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
CSB BANK LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA
Open original XBRL sourceCSB Bank Limited has informed the Exchange regarding appointment of Mr. Anish Thurthi (DIN: 08713000) as an Additional Director (Non-Executive Non-Independent) of the Bank.
RoutineCSB Bank Ltd - 542867 - Announcement under Regulation 30 (LODR)-Change in DirectorateBSE · 25 Sept 2026Outcome of Board Meeting held on Friday, September 25, 2026 - Appointment of Mr. Anish Thurthi (DIN:08713000) as an Additional Director (Non-Executive Non-Independent) of the Bank
RoutineTrading WindowBSE · 22 Sept 2026CSB Bank Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineNews VerificationNSE · 9 Sept 2026The Exchange has sought clarification from CSB Bank Limited with respect to recent news item captioned Fairfax plans IIFL Finance exit to fund IDBI Bank bid. The response from the Company is attached.
MANAGEMENT COMMENTARY
Signals from filed documents
Operating profit CSB Bank Limited July 22, 2026 Page 4 of 16 increased by 14%, while net profit register ed a growth of 27% over the corresponding period last year. Looking ahead, our objective is not merely to grow, but to grow efficie ntly by improving operating leverage, increasing employee productivity, deepening customer engagement, and accelerating the payback from our technology transformation initiati ves. We
In FY 2025–26, the Bank opened 35 branches, reflecting a clear shift from volume-led expansion to a return-oriented and efficiency-driven strategy. As against the earlier expansion plan that was concentrated largely in Kerala and neighbouring southern markets, the Bank is now strengthening its presence across northern and western regions to build a more balanced national footprint. Expansion efforts focus on entry an
Margins and Returns: Net Interest Margin stood at 3.76%, while Return on Assets was at 1.29%. Elevated funding costs contained margin expansion through the year. Liability Franchise: Deposits grew by 20%.
The treasury operates a Proprietary Trading Desk, which trades major global currencies. The desk identifies arbitrage opportunities between domestic and international markets, contributing to treasury income within a prudent risk management framework. The Bank’s foreign exchange business continued to grow during FY 2025–26, with forex turnover increasing by 2.02% YoY.
With a customer-first approach, we are building a comprehensive suite of product offerings across segments. This includes a sharper focus on NRI customers, where specialised products, dedicated channels, and tailored engagement strategies are strengthening our presence and deepening relationships in this important segment. The foundation has empowered specialised teams and strengthened distribution, resulting in cohe
PCR stands at 77.96% without PWO, almost 78%, which is high compared to what we used to have before. Bank is holding a provisioning buffer of around R s.198 Crores, over and above regulatory requirements, including a contingency provision of around R s.105 Crores. On the capital side, CRAR continues to be well above the regulatory requ irement and stood at 19.96%.
This may result in higher delinquencies and pressure on asset quality. • Margin pressures from funding costs: Elevated deposit costs and competitive pricing in the banking sector may continue to exert pressure on net interest margins in the near term. While the Bank is strengthening its CASA and retail deposit base, intense competition for deposits remains a structural challenge.
There was also pressure from the Reserve Bank of India’s (RBI) directive limiting lenders’ net open rupee positions in the forex market, which weighed on banking stocks. Domestic institutional investors provided a consistent stabilising counterweight through the year. Retail participation deepened meaningfully, with demat accounts crossing 21.6 crore and mutual fund investors reaching 5.9 crore, with a growing share
All decisions at the meetings of the Board and the meetings of the Committees (including the circular resolutions) were carried out unanimously as recorded in the minutes of the meetings of the Board of Directors and its Committees. The policies as approved by the Board of Directors pursuant to the requirements of the LODR have been periodically reviewed and suitably aligned with the amendments made to the said Regul
MSME exports have grown from ₹3.95 lakh crore in CY 2021 to ₹12.39 lakh crore in CY 2025, with over 1.7 lakh exporters and increasing demand for trade finance, including export credit, letters of credit, and foreign exchange services. Product Suite Opportunity Landscape Financial Statements Statutory Reports Corporate Overview Annual Report 2025-26 CSB Bank Limited 37 MSME portfolio recorded growth of ~149%, while ma
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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