# Kotak Mahindra Bank (NSE: KOTAKBANK) share analysis

Canonical: https://vestmind.in/stocks/kotak-mahindra-bank  
Source: VestCall by Vestmind, price as of 14 October 2026.

> Kotak Mahindra Bank (NSE: KOTAKBANK) was trading at ₹443.75 on 14 October 2026. VestCall scores its business health 58/100 (adequate). On valuation, the price sits in the “Fairly Valued” zone (₹432.32 – ₹444.14) — inside the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.

## Valuation zones

| Zone | Price band | Meaning |
| --- | --- | --- |
| Deeply Discounted | ₹399.12 – ₹422.2 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹422.2 – ₹432.32 | Below the modelled fair-value range |
| Fairly Valued (current) | ₹432.32 – ₹444.14 | Inside the modelled fair-value range |
| Valuation Premium | ₹444.14 and above | Above the modelled fair-value range |

## The case for and against

- Supports — Business Quality 74/100
- Supports — Capital Allocation 72/100
- Supports — Shareholding Quality 70/100
- Needs proof — Growth 39/100
- Needs proof — Financial Strength 50/100
- Needs proof — Management Stability 51/100

## Key ratios

| Ratio | Kotak Mahindra Bank | Sector median |
| --- | --- | --- |
| P/E | 24.16x | — |
| P/B | 0.37x | — |
| P/S | 0.47x | — |
| Return on equity (ROE) | 14.2% | — |
| Return on capital employed (ROCE) | 19.2% | — |
| Operating margin | 24.2% | — |
| Net margin | 17.8% | — |

## Bull, base and bear case (model outputs, not forecasts)

| Scenario | Modelled CAGR | Weight | Assumption |
| --- | --- | --- | --- |
| Bear | −0.7% | 20% | Growth decelerates to 3.3% and the multiple de-rates toward the cohort's trough. |
| Base | +9.3% | 55% | Earnings compound near the measured 9.3% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +16.5% | 25% | Growth holds at 13% and the market pays the full premium the measured quality supports. |

## Questions

### Is Kotak Mahindra Bank overvalued or undervalued?

At ₹443.75, Kotak Mahindra Bank sits in VestCall’s “Fairly Valued” zone (₹432.32 – ₹444.14): inside the modelled fair-value range. Its valuation scores 2/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.

### Is Kotak Mahindra Bank fundamentally strong?

VestCall scores Kotak Mahindra Bank’s business health 58/100 (adequate). The strongest measured pillars are business quality and capital allocation. The ones that need proof are growth and financial strength. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.

### What is Kotak Mahindra Bank’s P/E ratio?

Kotak Mahindra Bank trades at a P/E of 24.16x, on VestCall’s latest read. A multiple only means something against the business it buys: the quality-adjusted fair value on this page weighs it against Kotak Mahindra Bank’s returns and growth.

### What are the risks of investing in Kotak Mahindra Bank?

The review triggers VestCall watches for Kotak Mahindra Bank are: return on equity falls below the quality floor (roe below 15%); revenue growth falls below the thesis floor (revenue cagr below 8%); promoter holding drops materially (promoter holding below 22.87%, 3 points under the Mar 2026 filing). On the fundamentals, growth is the weakest measured pillar at 39/100. A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.

### Is this a recommendation to buy or sell Kotak Mahindra Bank?

No. VestCall states where Kotak Mahindra Bank’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.

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Vestmind is not a SEBI-registered investment adviser or research analyst. This is research for information, not a recommendation or personalised investment advice.