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

Latest Update – The NII (net interest income) surged by 6 percent in the reporting quarter compared to the previous year, amounting to Rs. 9,166 crores as opposed to Rs. 8,666 crores from last year’s period. In Q1, provisions decreased by 16 percent YoY reaching Rs. 2,282 crores, where provisions for non-performing assets (NPA) decreased by 10 percent YoY.

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 NameCanara Bank
Listed atNSE & BSE
Head Office112, 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 Websitecanarabank.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/E7.41
Book Value₹ 86.0
Dividend Yield2.57 %
ROCE7.00 %
ROE19.6 %
Face Value₹ 2.00
Debt to equity15.8
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 percentage0.00 %
FCF Prev Ann₹ -40,591 Cr.
EVEBITDA13.1
Industry PE9.46
PEG Ratio0.08
Piotroski score6.00
Earnings yield7.66 %
Sales growth 5Years18.2 %

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Canara Bank Quarterly Results

MetricDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Revenue17,98218,22718,53720,48222,56124,30425,45127,29028,49229,286
Interest10,76110,85611,39612,68113,62215,29216,33717,93418,62019,226
Expenses8,38610,8249,38211,32610,83112,25310,99010,85912,00113,198
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 Income3,5066,2925,2026,8765,7777,4706,8096,6027,1388,098
Depreciation0000000000
Profit before tax2,3412,8392,9613,3513,8864,2294,9335,0985,0094,960
Tax %30%31%30%23%25%24%28%28%25%24%
Net Profit1,7122,0612,1932,7303,0583,3643,7553,8293,8273,991
EPS in Rs1.832.122.402.983.343.684.124.194.184.36
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

PeriodGrowth Rate
10 Years11%
5 Years18%
3 Years16%
TTM29%

Compounded Profit Growth

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PeriodGrowth Rate
10 Years19%
5 Years91%
3 Years75%
TTM40%

Stock Price CAGR

PeriodGrowth Rate
10 Years3%
5 Years17%
3 Years54%
1 Year88%

Return on Equity

PeriodGrowth Rate
10 Years7%
5 Years11%
3 Years15%
Last Year20%

Canara Bank Shareholding Pattern

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Promoters66.30%72.55%70.62%78.52%69.33%62.93%62.93%62.93%
FIIs5.28%5.12%4.26%3.31%4.59%8.48%8.95%10.57%
DIIs21.23%16.86%17.65%11.02%12.60%13.61%16.20%14.39%
Public7.19%5.47%7.47%7.15%13.48%14.97%11.92%12.10%
No. of Shareholders1,64,6701,53,1501,89,0442,25,2915,63,4586,39,1366,29,4447,59,083

Canara Bank Share Price Target 2024-2030 Forecast

YearShare 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

MonthShare 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

MonthShare 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

MonthShare 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

MonthShare 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

MonthShare Price Target
January598
February587
March577
April582
May592
June604
July623
August636
September654
October645
November660
December₹671

Canara Bank Share Price Target 2030

MonthShare Price Target
January680
February674
March666
April670
May682
June703
July713
August730
September747
October755
November761
December₹768

Official Website – canarabank.com

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