CENTRALBK
Large CapCentral Bank of India
Financial Services
Founded in 1911, Central Bank of India is a public sector bank with over 114 years of legacy. It boasts a PAN India network of 4585 branches and 22129 customer touch points, serving 8.26 Crore active customers. The bank exited RBI's PCA framework in Sep'22 and focuses on digital banking and diversified loan book growth.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Investable fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Bad · 0/100PAT -32% YoY · Rev +12% YoY · +7% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹9,698 Cr | +12.1% | +6.9% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹748 Cr | -32.4% | -40.9% |
| PAT margin | 7.7% | -507 bps | -624 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Central Bank of India reported strong FY26 performance with Net Profit up 15.43% YoY to ₹4,369 Cr, ROA at 0.89%, and ROE at 13.00%. Gross Advances grew 18.76% YoY, crossing ₹3.44 Lakh Cr. Asset quality improved significantly with NNPA at 0.49% and GNPA at 2.67%.
The bank demonstrates sustained recovery post-PCA exit, with robust profitability and asset quality improvement. Strong advances growth, particularly in RAM segments, and a focus on digital transformation are positive. However, the declining CASA ratio and high cost-to-income ratio warrant close monitoring.
Advances Mix as of Mar’2026
Latest issuer-disclosed distribution across 4 reported categories.
Retail Advance Portfolio Growth
Retail advance portfolio crossed ₹1,00,000 Crore, growing 14.17% CAGR (Mar'22-Mar'26).
MSME Credit Growth
MSME credit grew 19.39% CAGR (Mar'22-Mar'26), with cluster-based lending and tie-ups.
Corporate Credit Growth
Corporate & Others advances grew 16.90% CAGR (Mar'22-Mar'26).
Digital Lending Platform (DLP)
DLP has 37 live journeys, facilitating seamless approvals and boosting advances, with ₹6679.91 Cr outstanding.
Customer Touch Points
Total customer touch points increased to 22,129 in Mar'26 from 20,915 in Mar'25.
BC Maxx Centres
Increased to 40 BC Maxx Centres in Mar'26 from 25 in Mar'25.
NRI Desks
159 specialized NRI desks have been set up in branches across the nation.
Pink Branches
115 Pink Branches designated across the country, solely managed by women staff.
Government Initiatives
Alignment with Government of India’s Vikshit Bharat vision and EASE, RBI, DFS mandates.
Digital Adoption
Healthy adoption of digital channels and emphasis on leveraging & improving digital & technological capabilities.
Diversified Loan Book
Offering a comprehensive range of services under Retail, Agri, MSME, Corporate Credit schemes.
Declining CASA Ratio
CASA % declined to 47.30% in FY26 from 48.91% in FY25.
High Cost to Income Ratio
Cost-to-Income ratio is 58.61% in FY26, indicating scope to improve income, productivity and control costs.
CASA Erosion
Continued decline in CASA ratio could increase cost of funds and impact NIM, despite management's focus on acquisition.
Operational Efficiency
High Cost to Income ratio (58.61%) suggests potential for operational inefficiencies or pressure on profitability if not managed effectively.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation primarily highlights annual financial year (FY) results and growth rates, making year-on-year comparison most relevant for assessing overall performance trends and strategic execution.
Total Business Growth
Total Business crossed ₹8.12 Lakhs Crore, up 15.60% YoY in FY26.
Gross Advances Growth
Gross Advances grew 18.76% YoY to ₹344,516 Cr in FY26.
Total Deposits Growth
Total Deposits grew 13.38% YoY to ₹467,923 Cr in FY26.
Net Interest Margin (NIM)
NIM was 3.07% in FY26.
Build Granular CASA Book
Strategy encompassing new account acquisition and deepening existing customer relationships with products like Cent Queen, Cent Salary.
Improve Cost to Income Ratio
Focus on improving CIR by controlling costs, discretionary spends, and driving fee income.
Accelerate Digital Adoption
Shift routine requests to digital channels, increase engagement on social media, push mobile banking app adoption.
Improve CD Ratio
Segment branches, run weekly CD steering calls, link large disbursements to CA deposits.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Interest Margin (NIM) | 3.07% (FY26) | Stabilization or improvement, given the focus on low-cost deposits and CD ratio. |
| CASA Ratio | 47.30% (FY26) | Reversal of the declining trend, as management aims to build a granular CASA book. |
| Cost to Income Ratio (CIR) | 58.61% (FY26) | Reduction, as management has identified it as an area for improvement. |
| Net NPA % | 0.49% (Mar'26) | Continued low levels, indicating sustained asset quality. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
41NeutralSMA20 -10.9% / mo · near 52W low
Technical chart
CENTRALBKdaily · 6M-14.1%Technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 38. Wait for confirmation.
- SMA20 falling (~13.4% over last month) — short-term momentum negative.
- RSI(14) at 38 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 24% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
UNDERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- FCF yield is supportive at 8.5%.
- Fair-value margin of safety is positive at 81.2%.
- Valuation contributes 30/30 to the score.
Main drags
- Altman Z is 1.7, in distress territory.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Bank valuation: P/B adjusted for ROE and asset quality
Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 64th percentile of the scored universe and 81st percentile within Financial Services. Main check: financial discipline is weak at 56/100.
Healthy Trust Lite: Promoter holding is 81.2%. Key concern: Promoter holding fell 8.1%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Financial Services: 81st pctile, median 62 · Large: 39th pctile, median 74
127 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 81.2%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 8.5%.
- ▸6 years of positive FCF.
Trust risks
- ▸Promoter holding fell 8.1%.
- ▸Altman Z is 1.73.
- ▸ROCE is low at 5.6%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 6.17
- P/B
- 0.71
- EV/EBITDA
- —
- Market Cap
- 27543.00Cr
Profitability
- ROE
- 11.80%
- ROCE
- 5.62%
- ROA
- 0.82%
- Dividend Y
- 3.94%
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 46.00%
- Revenue 3Y
- 12.00%
- EPS 3Y
- 39.00%
Balance Sheet
- Debt/Equity
- 0.07
- Interest Coverage
- —
- Altman Z
- 1.73
- Book Value
- 43.10
Cash Flow
- FCF Yield
- 8.53%
- FCF Positive Y
- 6/5
- OCF
- 2804.00 Cr
- EPS TTM
- 5.00
Shareholding
- Promoter Hold
- 81.19%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 9%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.