Canara Bank Share Price Target 2024-2030 Fundamentals & Quarterly Results

Canara Bank Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results -Canara Bank, which is the fourth largest public sector bank after SBI, PNB & BOB, mainly serves southern India, where it has a reputation for offering good business with concentration points being Agri and Gold loans. It comes in second place among all other banks as far as the amount of gold collateral given out is concerned with SBI coming first in terms of this particular loan product.Canara Bank Share Price target

Canara Bank Overview

The bank was founded in 1906. Also, it is a major player in the Indian banking industry. There are different segments under it like Treasury Operations, Retail Banking Operations, Wholesale Banking Operations and Other Banking Operations.

Company Name Canara Bank
Listed at NSE & BSE
Head Office 112, J.C.Road, Bangalore – 560 002
Board Of Directors
  • Mr.Brij Mohan Sharma Executive Director
  • Mr.Debashish Mukherjee Executive Director
  • Mr.Hardeep Singh Ahluwalia Executive Director
  • Mr.Ashok Chandra Executive Director
  • Mr.Suchindra Misra Government Nominee Director
  • Mr.K Satyanarayana Raju Managing Director & CEO
  • Mr.R Kesavan Nominee Director
  • Mr.Vijay Srirangan Non Executive Chairman
  • Ms.Nalini Padmanabhan Part Time Non Official Director
  • Mr.Dibakar Prasad Harichandan Part Time Non Official Director
  • Mr.Bimal Prasad Sharma Shareholder Director
  • Ms.Abha Singh Yaduvanshi Shareholder Director
  • Mr.Karunakara Shetty Shareholder Director
Official Website canarabank.com

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Canara Bank Business Profile

At the moment, the number of branches is ~10,500 and the number of ATMs is ~13,000. The total number of international branches in foreign countries is 5. As a percentage of the distribution, almost half (45%) is situated on the southern part while more than half of them (~60%) are found in remote areas such as villages outside urban centers in India. After merging with Syndicate Bank, our branch network and the number of our ATMs rose by about 4,000 and 4,500 respectively.

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Loan Book

Currently, corporate loans make up 43% of total loans, followed by Agriculture (23%), retail (17%) and MSME (17%). Regards the retail book, housing loans consists 55% followed by personal loans (22%), vehicle loans (12%) as well as education loans (11%).

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Corporate Book Exposure

At present, the aggregate size of bank’s corporate portfolio stands at ~290,000 crores. The leading economic verticals that the bank’s corporate portfolio caters to include – NBFCs at 28%, Infrastructure at 27%, metal & metal products with 9% share, 5% each for textiles and food processing while engineering accounts for 4% of the pie.

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International Business

Canara Bank has set up five offices in the UK, South Africa, the US stock market, DIFC and UAE. Other than the five overseas sub offices, it operates in Tanzania where it has wholly owned subsidiary of Canara Bank Tanzania Ltd. Russia is also part of the other places where Commercial Indo Bank LLC is its joint venture with State Bank of India. Currently, international corporate account for (stands at) 5.6% of the bank’s overall company performance.

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Subsidiaries

  1. Canara Robeco Asset Management Co Ltd –This comprises a joint venture with M/s. Robeco Groep N.V., which manages 28 different mutual fund schemes such as Gold exchange traded fund and currently oversees about INR 16,000 crores in Assets Under Management (AUM).
  2. Canara Bank Securities Ltd-It is fully owned subsidiary of a bank that provides stock broking services to clients both institutional and retail.
  3. Canara HSBC OBC Life Insurance Company Ltd-This is a JV in life insurance between HSBC Insurance and Oriental Bank of Commerce
  4. CanFin Homes Ltd -The premier institution for housing finance in the country

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Canara Bank Fundamentals & Quarterly Results

Market Cap ₹ 1,12,930 Cr.
Current Price ₹ 124
High / Low ₹ 127 / 58.3
Stock P/E 7.41
Book Value ₹ 86.0
Dividend Yield 2.57 %
ROCE 7.00 %
ROE 19.6 %
Face Value ₹ 2.00
Debt to equity 15.8
Debt Capacity -6.41
Debt preceding year ₹ 12,37,160 Cr.
Debt ₹ 12,37,160 Cr.
Reserves ₹ 76,240 Cr.
EPS ₹ 16.8
EPS last year ₹ 16.8
Pledged percentage 0.00 %
FCF Prev Ann ₹ -40,591 Cr.
EVEBITDA 13.1
Industry PE 9.46
PEG Ratio 0.08
Piotroski score 6.00
Earnings yield 7.66 %
Sales growth 5Years 18.2 %

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Canara Bank Quarterly Results

Metric Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 17,982 18,227 18,537 20,482 22,561 24,304 25,451 27,290 28,492 29,286
Interest 10,761 10,856 11,396 12,681 13,622 15,292 16,337 17,934 18,620 19,226
Expenses 8,386 10,824 9,382 11,326 10,831 12,253 10,990 10,859 12,001 13,198
Financing Profit -1,165 -3,453 -2,241 -3,525 -1,891 -3,241 -1,876 -1,504 -2,129 -3,138
Financing Margin % -6% -19% -12% -17% -8% -13% -7% -6% -7% -11%
Other Income 3,506 6,292 5,202 6,876 5,777 7,470 6,809 6,602 7,138 8,098
Depreciation 0 0 0 0 0 0 0 0 0 0
Profit before tax 2,341 2,839 2,961 3,351 3,886 4,229 4,933 5,098 5,009 4,960
Tax % 30% 31% 30% 23% 25% 24% 28% 28% 25% 24%
Net Profit 1,712 2,061 2,193 2,730 3,058 3,364 3,755 3,829 3,827 3,991
EPS in Rs 1.83 2.12 2.40 2.98 3.34 3.68 4.12 4.19 4.18 4.36
Gross NPA % 7.81% 7.51% 6.99% 6.37% 5.90% 5.35% 5.16% 4.76% 4.39% 4.23%
Net NPA % 2.87% 2.65% 2.48% 2.19% 1.96% 1.73% 1.57% 1.41% 1.32% 1.27%

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CAGR Report

Compounded Sales Growth

Period Growth Rate
10 Years 11%
5 Years 18%
3 Years 16%
TTM 29%

Compounded Profit Growth

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Period Growth Rate
10 Years 19%
5 Years 91%
3 Years 75%
TTM 40%

Stock Price CAGR

Period Growth Rate
10 Years 3%
5 Years 17%
3 Years 54%
1 Year 88%

Return on Equity

Period Growth Rate
10 Years 7%
5 Years 11%
3 Years 15%
Last Year 20%

Canara Bank Shareholding Pattern

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Promoters 66.30% 72.55% 70.62% 78.52% 69.33% 62.93% 62.93% 62.93%
FIIs 5.28% 5.12% 4.26% 3.31% 4.59% 8.48% 8.95% 10.57%
DIIs 21.23% 16.86% 17.65% 11.02% 12.60% 13.61% 16.20% 14.39%
Public 7.19% 5.47% 7.47% 7.15% 13.48% 14.97% 11.92% 12.10%
No. of Shareholders 1,64,670 1,53,150 1,89,044 2,25,291 5,63,458 6,39,136 6,29,444 7,59,083

Canara Bank Share Price Target 2024-2030 Forecast

Year Share Price Target
2024 ₹204
2025 ₹301
2026 ₹397
2027 ₹492
2028 ₹588
2029 ₹671
2030 ₹768

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Canara Bank Share Price Target 2025

Month Share Price Target
January ₹212
February ₹210
March ₹206
April ₹219
May ₹229
June ₹233
July ₹229
August ₹226
September ₹246
October ₹285
November ₹296
December ₹301

Canara Bank Share Price Target 2026

Month Share Price Target
January ₹308
February ₹315
March ₹301
April ₹316
May ₹325
June ₹330
July ₹323
August ₹335
September ₹349
October ₹378
November ₹394
December ₹397

Canara Bank Share Price Target 2027

Month Share Price Target
January ₹404
February ₹410
March ₹398
April ₹410
May ₹423
June ₹426
July ₹420
August ₹422
September ₹439
October ₹472
November ₹489
December ₹492

Canara Bank Share Price Target 2028

Month Share Price Target
January ₹501
February ₹506
March ₹494
April ₹509
May ₹519
June ₹522
July ₹516
August ₹517
September ₹533
October ₹574
November ₹586
December ₹588

Canara Bank Share Price Target 2029

Month Share Price Target
January 598
February 587
March 577
April 582
May 592
June 604
July 623
August 636
September 654
October 645
November 660
December ₹671

Canara Bank Share Price Target 2030

Month Share Price Target
January 680
February 674
March 666
April 670
May 682
June 703
July 713
August 730
September 747
October 755
November 761
December ₹768

Official Website – canarabank.com

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