Equitas Small Finance Bank Limited
NSE: EQUITASBNKOther Bank
Share price
₹66.44
-3.60% close of 8 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 8 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
46
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹7,581 Cr
P/E ratio
14.8
P/B ratio
1.2
ROCE
6.4%
ROE
1.7%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 10.0% over the past year, and 17.5% a year over its longer record. Meanwhile what it keeps on lending slipped from 0.3% to -5.5% over the last two years.
Whether it grew faster than its sector
It grew 17.5% a year against a sector median of 16.0% — 1.5 percentage points faster.
Room to re-rate, or risk of de-rating
At 14.8× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 13.3×, across 3 companies. It is against its own five-year median of 18.5×, the 20th percentile of its own range.
Whether growth justifies the valuation
Its earnings are falling, so growth cannot justify the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Equitas Small Finance Bank Limited — this one | -44%/yr | 14.8× | — |
| AU Small Finance Bank Limited | 23%/yr | 25.5× | ₹1.1 |
| Ujjivan Small Finance Bank Limited | -14%/yr | 13.3× | — |
| Jana Small Finance Bank Limited | 8%/yr | 13.3× | ₹1.7 |
| Utkarsh Small Finance Bank Limited | — | — | — |
| ESAF Small Finance Bank Limited | — | — | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Other Bank), it ranks 7 of 9 on returns, 6 of 9 on growth. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 1.7% on capital, ahead of 22% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
This question does not fit a lender: the money it lends out is its day-to-day outflow and the deposits or premiums it takes are the inflow, so a cash bridge cannot say whether its growth pays for itself. Look at the return on owners' money instead.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
Not enough filed accounts to run these checks yet.
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Profit came in about 10% above the pre-result brokerage average.
Announced 28 Jul 2026 · Standalone · Unaudited
Revenue
₹2,215 Cr
Net profit
₹184 Cr
Profit vs last quarter
-13.8%
Net margin
8.3%
EPS
₹1.61
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹7,581 Cr
- Prev close
- ₹66.44
- 52w High
- ₹83.9
- 52w Low
- ₹51.3
- Enterprise value
- ₹7,603 Cr
- Beta
- 1.1
- Price CAGR 1y
- 19.0%
- Price CAGR 3y
- -10.0%
- Price CAGR 5y
- 1.0%
- Price CAGR 10y
- —
Ratios
- Return on assets
- 0.2%
- PEG ratio
- -0.3
- P/E ratio
- 14.8
- P/B ratio
- 1.2
- EV / EBITDA
- -10.0
- Industry P/E
- 13.4
- ROCE
- 6.4%
- ROCE 5y average
- —
- ROE
- 1.7%
- Debt / Equity
- 0.9
- Interest coverage
- —
- Dividend yield
- 0.0%
- ROE 3y average
- 6.0%
- ROE last year
- 2.0%
Annual P&L
- Annual revenue
- ₹6,794 Cr
- Annual profit
- ₹103 Cr
- Operating margin
- -11.0%
- Net profit margin
- 1.5%
- EBITDA margin
- -11.5%
- Sales growth 3y
- 17.7%
- Sales growth 5y
- 16.3%
- Profit growth 3y
- -44.0%
- Profit growth 5y
- -23.0%
- EPS
- ₹0.9
- Sales growth TTM
- 10.0%
- Profit growth TTM
- 598.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹1,960 Cr
- Profit latest quarter
- ₹184 Cr
- YoY quarterly sales growth
- 18.9%
- YoY quarterly profit growth
- —
- OPM latest quarter
- -1.0%
Balance Sheet
- Book Value
- ₹53.7
- Face Value
- ₹10.0
- Total debt
- ₹5,773 Cr
- Total cash
- ₹5,666 Cr
- Borrowings
- ₹5,773 Cr
- Reserves / Equity
- 4.4
Cash Flow
- Operating cash flow
- -₹3,316 Cr
- Free cash flow
- -₹3,501 Cr
- FCF yield
- —
- Net cash flow
- ₹140 Cr
Shareholding
- Promoter holding
- —
- FII holding
- 15.7%
- DII holding
- 51.3%
- Public holding
- 33.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| AU Small Finance | 987.00 | 26.0 | 74,160 | 0.10 | 796.0 | 37.0 | 5,302.7 | 21.1 | 7.7 |
| Ujjivan Small | 65.60 | 14.1 | 12,782 | 0.00 | 316.5 | 206.7 | 2,024.9 | 25.1 | 7.7 |
| Equitas Sma. Fin | 68.41 | 15.3 | 7,827 | 0.00 | 183.6 | 182.1 | 1,960.4 | 18.9 | 6.4 |
| Jana Small Finan | 482.40 | 13.4 | 5,105 | 0.00 | 155.2 | 52.3 | 1,514.5 | 22.1 | 7.5 |
| Utkarsh Small F. | 13.43 | 2,390 | 0.00 | -33.9 | 85.8 | 883.6 | 0.3 | 1.5 | |
| ESAF Small Fin | 43.40 | 2,240 | 0.00 | 80.1 | 198.6 | 1,097.8 | 32.5 | 5.7 | |
| Suryoday Small | 143.55 | 8.0 | 1,526 | 1.04 | 75.2 | 113.1 | 622.4 | 25.7 | 7.3 |
| Median | 128.22 | 14.1 | 2,390 | 0.00 | 80.1 | 85.8 | 1,097.8 | 21.1 | 7.1 |
Competes with: AU Small Finance Bank Limited, Capital Small Finance Bank Limited, ESAF Small Finance Bank Limited, Fino Payments Bank Limited, Jana Small Finance Bank Limited, Suryoday Small Finance Bank Limited, Ujjivan Small Finance Bank Limited, Utkarsh Small Finance Bank Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,254 | 1,359 | 1,429 | 1,445 | 1,501 | 1,555 | 1,612 | 1,644 | 1,649 | 1,617 | 1,692 | 1,836 | 1,960 |
| Expenses | 662 | 680 | 715 | 758 | 974 | 1,021 | 967 | 1,002 | 1,375 | 969 | 1,027 | 965 | 1,041 |
| Financing Profit | 81 | 86 | 70 | 28 | -173 | -219 | -149 | -172 | -589 | -195 | -176 | 15 | -11 |
| Financing Margin % | 6 | 6 | 5 | 2 | -12 | -14 | -9 | -10 | -36 | -12 | -10 | 1 | -1 |
| Other Income | 171 | 181 | 205 | 240 | 209 | 239 | 238 | 225 | 292 | 229 | 289 | 263 | 255 |
| Interest | 511 | 593 | 644 | 659 | 699 | 753 | 794 | 815 | 863 | 844 | 840 | 856 | 931 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 252 | 267 | 276 | 268 | 36 | 20 | 90 | 53 | -297 | 34 | 114 | 278 | 244 |
| Tax % | 24 | 26 | 27 | 23 | 28 | 36 | 26 | 21 | -25 | 28 | 21 | 24 | 25 |
| Net Profit | 191 | 198 | 202 | 208 | 26 | 13 | 66 | 42 | -224 | 24 | 90 | 213 | 184 |
| EPS in Rs | 1.72 | 1.77 | 1.79 | 1.83 | 0.23 | 0.11 | 0.58 | 0.37 | -1.96 | 0.21 | 0.79 | 1.86 | 1.61 |
| Gross NPA % | 2.75 | 2.27 | 2.53 | 2.61 | 2.73 | 2.95 | 2.97 | 2.89 | 2.92 | 2.92 | 2.75 | 2.60 | 2.42 |
| Net NPA % | 1.18 | 0.97 | 1.13 | 1.17 | 0.83 | 0.97 | 0.96 | 0.98 | 0.98 | 0.98 | 0.92 | 0.72 | 0.71 |
| Gross NPA | 1,068 | 1,036 | 1,082 | 1,116 | 1,135 | 1,100 | |||||||
| Income on Investments | 159 | 161 | 163 | 169 | 168 | 175 | |||||||
| Interest on Advances | 1,448 | 1,434 | 1,410 | 1,495 | 1,632 | 1,755 | |||||||
| Interest on RBI and Inter-bank Balances | 37 | 54 | 44 | 28 | 37 | 30 | |||||||
| Net NPA | 354 | 342 | 358 | 367 | 306 | 319 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 408 | 981 | 1,543 | 2,112 | 2,645 | 3,194 | 3,460 | 4,162 | 5,486 | 6,312 | 6,794 | 7,106 |
| Expenses | 17 | 230 | 561 | 964 | 1,015 | 1,304 | 1,628 | 2,123 | 2,361 | 2,681 | 3,816 | 4,170 | 4,002 |
| Financing Profit | -13 | 19 | -40 | -105 | 133 | 191 | 170 | -84 | 184 | 399 | -564 | -779 | -367 |
| Financing Margin % | -208 | 5 | -4 | -7 | 6 | 7 | 5 | -2 | 4 | 7 | -9 | -11 | -5 |
| Other Income | 0 | 71 | 233 | 241 | 283 | 282 | 418 | 538 | 670 | 799 | 911 | 1,074 | 1,037 |
| Interest | 2 | 159 | 460 | 684 | 964 | 1,150 | 1,396 | 1,421 | 1,617 | 2,407 | 3,060 | 3,403 | 3,471 |
| Depreciation | 0 | 5 | 32 | 88 | 92 | 96 | 76 | 75 | 85 | 134 | 148 | 167 | 0 |
| Profit before tax | -13 | 85 | 161 | 49 | 324 | 377 | 511 | 378 | 769 | 1,063 | 199 | 128 | 670 |
| Tax % | 0 | 0 | 36 | 34 | 35 | 35 | 25 | 26 | 25 | 25 | 26 | 20 | |
| Net Profit | -13 | 85 | 104 | 32 | 211 | 244 | 384 | 281 | 574 | 799 | 147 | 103 | 510 |
| EPS in Rs | -2.13 | 2.01 | 1.04 | 0.32 | 2.09 | 2.31 | 3.37 | 2.24 | 5.16 | 7.04 | 1.29 | 0.90 | 4.47 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19 | 14 | 78 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 32%
- 5 years
- 16%
- 3 years
- 18%
- TTM
- 10%
Compounded profit growth
- 10 years
- 2%
- 5 years
- -23%
- 3 years
- -44%
- TTM
- 598%
Stock price CAGR
- 10 years
- —
- 5 years
- 1%
- 3 years
- -10%
- 1 year
- 19%
Return on equity
- 10 years
- 8%
- 5 years
- 7%
- 3 years
- 6%
- Last year
- 2%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 61 | 423 | 1,006 | 1,006 | 1,006 | 1,053 | 1,139 | 1,252 | 1,111 | 1,135 | 1,140 | 1,141 |
| Reserves | -13 | 288 | 1,006 | 1,038 | 1,248 | 1,691 | 2,257 | 2,994 | 4,047 | 4,834 | 4,933 | 4,984 |
| Borrowing | 44 | 1,638 | 4,779 | 5,177 | 3,973 | 5,135 | 4,165 | 2,616 | 2,974 | 1,788 | 2,137 | 5,773 |
| Deposits | 0 | 1,921 | 5,604 | 9,007 | 10,788 | 16,392 | 18,951 | 25,348 | 36,129 | 43,102 | 46,533 | |
| Other Liabilities | 14 | 65 | 533 | 485 | 529 | 628 | 755 | 1,134 | 1,478 | 1,418 | 1,524 | 2,180 |
| Total Liabilities | 105 | 2,414 | 9,245 | 13,310 | 15,763 | 19,296 | 24,708 | 26,948 | 34,958 | 45,304 | 52,836 | 60,610 |
| Fixed Assets | 4 | 11 | 274 | 280 | 236 | 210 | 184 | 189 | 338 | 537 | 531 | 527 |
| CWIP | 0 | 0 | 15 | 1 | 2 | 2 | 1 | 11 | 41 | 68 | 165 | 189 |
| Investments | 0 | 0 | 1,890 | 3,857 | 2,344 | 2,343 | 3,705 | 4,450 | 6,665 | 9,065 | 9,289 | 10,149 |
| Advances | 36,209 | 42,751 | ||||||||||
| Other Assets | 102 | 2,403 | 7,066 | 9,172 | 13,181 | 16,740 | 20,818 | 22,297 | 27,914 | 35,634 | 42,851 | 49,746 |
| Total Assets | 105 | 2,414 | 9,245 | 13,310 | 15,763 | 19,296 | 24,708 | 26,948 | 34,958 | 45,304 | 52,836 | 60,610 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -101 | -336 | 1,334 | 213 | 1,799 | 440 | 2,044 | 159 | -998 | 3,834 | 1,937 | -3,316 |
| Cash from Investing Activity | -3 | -9 | -405 | -11 | -7 | -72 | -43 | -89 | 49 | -360 | -239 | -185 |
| Cash from Financing Activity | 108 | 168 | -563 | -28 | -1,706 | 908 | -1,154 | -1,317 | 60 | -1,210 | 259 | 3,641 |
| Net Cash Flow | 4 | -177 | 366 | 173 | 86 | 1,276 | 847 | -1,246 | -888 | 2,264 | 1,957 | 140 |
| Free Cash Flow | -106 | -344 | 1,041 | 133 | 1,751 | 367 | 1,995 | 68 | -1,261 | 3,474 | 1,698 | -3,501 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -49 | 12 | 8 | 2 | 10 | 10 | 13 | 7 | 12 | 14 | 2 | 2 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
capital adequacy (CRAR) %
19.44
CASA ratio %
25.00pct
2026-06-30
cost-to-income %
68.50pct
2026-06-30
credit cost
1.37pct
2026-06-30
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
gross NPA %
2.42pct
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net NPA %
0.71pct
2026-06-30
net interest margin %
7.24pct
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
provision coverage %
71.02pct
2026-06-30
FY revenue / permanent employees + workers, same basis (calc)
24,21,413inr
2026-03-31
return on assets %
0.18pct
2026-03-31
News
News and filings about Equitas Small Finance Bank Limited. Open one to see why it matters.
28 Sept, 22:00 IST · Company event · low impact
Equitas Small Finance Bank Limited: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
22 Sept, 16:09 IST · Company event · low impact
Equitas Small Finance Bank Limited: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Depends on the price of
- Bond Markets
- Interest Rates
Sells products of
- Bajaj Allianz Life Insurance
- Canara HSBC Life Insurance Company Limited
- Care Health Insurance Limited
- HDFC ERGO General Insurance
- HDFC Life Insurance
- ICICI Prudential Life Insurance Company Limited
- Niva Bupa Health Insurance Company Limited
- Pramerica Life Insurance Limited
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Financial Services
- Industry
- Other Bank
- Classification
- Financial Services › Other Bank
- ISIN
- INE063P01018
Business segments
- Retail Banking · 84%
- Treasury · 13%
- Other Banking operations · 2%
- Wholesale Banking · 2%
News impact
Big market events that reach Equitas Small Finance Bank Limited, and how the effect spreads.
26 Aug, 04:26 IST · Market event · high impact
Federal Bank falls 3% on reports it is in advanced talks to buy a controlling stake in Jana Small Finance Bank, likely via Jana Holdings' 16.9% followed by an open offer
Federal Bank is reportedly close to buying control of Jana Small Finance Bank, and its own shares fell 3% because investors fear it will have to issue new shares or absorb riskier loans to pay for it.
Who it hits first
- Federal Bank would fund a control stake in Jana Small Finance Bank plus a mandatory open offer, which means either new shares or a drawdown of capital - the reason its own stock fell 3%
- Jana Small Finance Bank shareholders would receive an exit at a control premium
- Federal Bank would absorb a microfinance-heavy loan book, which earns more but goes bad more often than its existing lending
Who may gain
- Listed microfinance-led small finance banks Ujjivan and Equitas, which get repriced as potential targets
- AU Small Finance Bank, whose own franchise valuation is validated
- Jana Holdings and the private equity backers who get a clean exit
Along the supply chain
Downstream
The customers of both banks are borrowers and depositors. Jana's microfinance borrowers would move onto a larger balance sheet with cheaper deposit funding, which usually means lower lending rates for them over time. Federal Bank's existing depositors face no change. Competing microfinance lenders in Jana's districts would face a better-funded rival.
Upstream
Banks do not have a manufacturing supply chain. The nearest equivalent is technology and services vendors: Federal Bank's disclosed suppliers in the knowledge graph are AAATECH and Reliable Data Services, and a merger of this size typically means a multi-year core-banking and data migration programme for whichever vendor wins it.
Where demand moves
Business
No lending demand is created or destroyed - the same borrowers get the same loans, just from a differently-owned lender. What does change is distribution reach: Federal Bank would inherit Jana's roughly 800 microfinance-focused branches in geographies where it is thin, and Jana's borrowers would gain access to Federal Bank's cheaper deposit funding, which over time lowers their interest cost.
Capital
Money moved out of the acquirer on announcement day - Federal Bank fell 3% on dilution fear - and toward the potential-target pocket, which is why listed small finance banks like Ujjivan and Equitas are the read-across. The precedent set says that flow reverses within a month as the market re-underwrites the acquirer's franchise gain, with acquirers averaging +8.71% at one month and Federal Bank itself +1.59%.
How it spreads across sectors
Financial Services
Revives the small finance bank consolidation theme, repricing every listed small finance bank as a potential target and putting South Indian private banks back in the frame
When it plays out
Immediate
Over the next week Federal Bank stays under pressure on dilution fear until the deal structure and price are confirmed. Listed small finance banks trade firm on the target read-across.
Medium term
Over one to six months, if the deal proceeds, the question becomes whether Federal Bank can run a microfinance book without a spike in bad loans - the reason its shares fell in the first place. If it is abandoned, the target read-across in Ujjivan and Equitas unwinds.
Short term
Over one to four weeks, watch for an exchange filing confirming or denying the talks, the price paid and how it is funded. Reserve Bank approval for a controlling stake in a small finance bank is not automatic and is the main execution risk.
24 Jul, 04:24 IST · Market event · high impact
Bandhan Bank crashes 16.5% after guiding net interest margin (NIM) to decline over the next two quarters
Bandhan Bank warned that the profit margin it earns on lending will shrink over the next six months, and its shares crashed 16.5%; the worry spills a little onto other microfinance-focused lenders, though stronger ones are better cushioned.
Who it hits first
- Bandhan Bank shares crashed 16.5% as a guided NIM decline squeezes an already-weak ROE of 4.91%
Who may gain
- No direct beneficiary — better-capitalised, more-diversified lenders (AU Small Finance, Ujjivan) are relatively insulated versus pure microfinance names
Along the supply chain
Downstream
Microfinance borrowers face no direct change, but tighter lender margins can slow credit growth to that segment over time.
Upstream
A bank's key input is low-cost deposits (CASA); Bandhan's thin 27.3% CASA and rising funding cost are the root of the NIM squeeze.
Where demand moves
Business
A NIM (lending-spread) squeeze at Bandhan flags sector yield pressure; pure microfinance lenders (Fusion, CreditAccess) share the theme, while diversified small-finance banks with higher CASA are better placed. No physical supply chain.
Capital
Money exits weak-ROE microfinance names toward stronger, more-diversified financials; the sell-off is partly a de-rating of the whole microfinance sub-sector's earnings quality.
How it spreads across sectors
Financial Services
microfinance/small-finance sub-sector NIM and asset-quality read-through; diversified lenders cushioned
When it plays out
Immediate
Bandhan crashes; microfinance peers soften in sympathy.
Medium term
If NIM decline is contained and GNPA stabilises, cheap valuations (Bandhan PB 1.36) could attract value buyers.
Short term
Watch peer NIM guidance (Fusion, CreditAccess, Ujjivan) and microfinance asset-quality trends for confirmation.
28 Apr, 04:15 IST · Market event · high impact
AU Small Finance Bank Q4 PAT +65%; files for universal bank licence
Who it hits first
- AU SFB's Q4 PAT +65% confirms strong execution
- Universal bank licence application opens path to remove SFB caps
- Sets precedent for sector-wide pivot
Who may gain
- AU SFB itself (direct re-rating)
- Other SFBs may follow (Equitas, Ujjivan, Suryoday)
Along the supply chain
Downstream
Customers gain more product breadth
Upstream
Bond markets — AU may access tier-1 capital instruments more easily
Where demand moves
Business
Removing SFB priority-sector cap allows broader corporate lending; lower funding costs via current account
Capital
Re-rating to private bank multiples — money rotates from mid-cap private banks to AUBANK
How it spreads across sectors
Banking
AU enters mid-cap private bank tier
Small Finance Banks
Re-rating thesis broadens
When it plays out
Immediate
AUBANK +5-10% over 1-2 weeks
Medium term
RBI decision on licence (typically 6-12 months); structural re-rating
Short term
Brokerage upgrades; peers anticipate similar moves
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 9 Aug 2024 | unspecified | ₹1 |
|---|---|---|
| 28 Jul 2023 | unspecified | ₹1 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2610 Aug 2026
- Results presentation30 Jun 2026
- Annual report · 2024-2514 Aug 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.