Equitas Small Finance Bank Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Retail Banking: 84.1% • Treasury: 12.8% • Other Banking Business: 1.6%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Comfortable capital adequacy - CAR of 20.3%
- Latest quarter profit grew 182.1% YoY, showing strong momentum
- Healthy loan book growth of 18.1% with stable asset quality
- Healthy net interest margin of 5.8%
- Company has delivered good sales growth of 16.3% CAGR over last 5 years
- Strong provisioning - provision coverage ratio of 71.0%
CONS
- A large part of profit comes from other income (837.8% of PBT)
- Company has delivered a poor profit growth of -23.1% over past five years
- Operating margins have contracted to 18.6% from 28.3%
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Growth is decelerating - 3Y profit CAGR (-43.6%) trails the 5Y trend (-23.1%)
- Company's return on assets is weak at 0.2%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 687.25 | 13.41 | 1059339.46 | 2.26 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1390.10 | 17.79 | 997793.42 | 0.86 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 414.40 | 20.31 | 412230.87 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1239.50 | 13.89 | 385909.17 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 81.63 | 9.42 | 87771.86 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.85 | 18.21 | 85260.58 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1061.00 | 43.70 | 79680.01 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 1002.00 | 59.04 | 78069.88 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.00 | 32.17 | 74146.70 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 22.43 | 18.65 | 70403.95 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 416.80 | 71.90 | 64643.15 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| EQUITASBNK | 72.61 | 16.27 | 8307.51 | 0.00 | 183.61 | 182.06 | 1960.40 | 18.89 | 4.38 | 46.92 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| Interest Expended | 511 | 593 | 644 | 659 | 699 | 753 | 794 | 815 | 863 | 844 | 840 | 856 | 931 |
| Net Interest Income | 743 | 766 | 785 | 786 | 801 | 802 | 818 | 829 | 786 | 774 | 852 | 980 | 1,030 |
| 171 | 181 | 205 | 240 | 209 | 239 | 238 | 225 | 292 | 229 | 289 | 263 | 255 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,216 |
| Operating Expenses | 602 | 617 | 630 | 652 | 670 | 692 | 724 | 744 | 763 | 762 | 834 | 841 | 880 |
| Operating Profit | 312 | 330 | 360 | 375 | 340 | 350 | 333 | 311 | 315 | 241 | 307 | 402 | 405 |
| Provisions & Contingencies | 60 | 63 | 84 | 107 | 305 | 330 | 243 | 258 | 612 | 207 | 193 | 124 | 161 |
| Profit before Tax | 252 | 267 | 276 | 268 | 36 | 20 | 90 | 53 | -297 | 34 | 114 | 278 | 244 |
| Tax % | 24.14% | 25.79% | 26.79% | 22.57% | 27.96% | 35.79% | 26.12% | 20.98% | 24.78% | 28.03% | 20.84% | 23.59% | 24.77% |
| Net Profit | 191 | 198 | 202 | 208 | 26 | 13 | 66 | 42 | -224 | 24 | 90 | 213 | 184 |
| EPS | 2 | 2 | 2 | 2 | 0 | 0 | 1 | 0 | -2 | 0 | 1 | 2 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,486 | 6,312 | 6,794 | — | |
| Interest Expended | 447 | 682 | 960 | 1,150 | 1,396 | 1,421 | 1,617 | 2,407 | 3,060 | 3,403 | 3,471 |
| Net Interest Income | -447 | -682 | -960 | -1,150 | -1,396 | -1,421 | -1,617 | 3,080 | 3,252 | 3,391 | — |
| 233 | 241 | 283 | 282 | 418 | 538 | 670 | 799 | 911 | 1,074 | 1,037 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6,285 | 7,223 | 7,868 | 2,216 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,501 | 2,829 | 3,200 | — | |
| Operating Profit | -447 | -682 | -960 | -1,150 | -1,396 | -1,421 | -1,617 | 1,377 | 1,334 | 1,265 | — |
| 42 | 170 | 99 | 147 | 433 | 368 | 406 | 314 | 1,135 | 1,137 | — | |
| Profit before Tax | 161 | 49 | 324 | 351 | 511 | 378 | 769 | 1,063 | 199 | 128 | 670 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 24.85% | 26.05% | 19.55% | 23.78% |
| Net Profit | 104 | 32 | 211 | 244 | 384 | 281 | 574 | 799 | 147 | 103 | 510 |
| EPS | 1 | 0 | 2 | 2 | 3 | 2 | 5 | 7 | 1 | 1 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 32%
- 5 Years:
- 16%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 2%
- 5 Years:
- -23%
- 3 Years:
- -44%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -6%
- 1 Year:
- 34%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 8%
- 3 Years:
- 6%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 1,006 | 1,006 | 1,006 | 1,053 | 1,139 | 1,252 | 1,111 | 1,135 | 1,140 | 1,141 |
| 1,006 | 1,038 | 1,248 | 1,691 | 2,257 | 2,993 | 4,042 | 4,793 | 4,876 | 4,924 | |
| 1,921 | 5,604 | 9,007 | 10,788 | 16,392 | 18,951 | 25,348 | 36,129 | 43,102 | 46,533 | |
| 4,779 | 5,177 | 3,973 | 5,135 | 4,165 | 2,616 | 2,974 | 1,788 | 2,137 | 5,773 | |
| Other Liabilities & Provisions | 533 | 485 | 529 | 628 | 755 | 1,134 | 1,478 | 1,418 | 1,524 | 2,180 |
| Total Liabilities | 9,245 | 13,310 | 15,763 | 19,296 | 24,708 | 26,948 | 34,958 | 5 | 52,836 | 60,610 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 248 | 386 | 403 | 381 | 515 | 2,077 | 1,174 | 3,500 | 4,954 | 5,563 | |
| Balances with Banks & Money at Call | 866 | 825 | 858 | 2,156 | 2,864 | 56 | 70 | 79 | 582 | 103 |
| 1,890 | 3,857 | 2,344 | 2,343 | 3,705 | 4,450 | 6,665 | 9,065 | 9,289 | 10,149 | |
| 5,702 | 7,707 | 11,595 | 13,728 | 16,848 | 19,374 | 25,799 | 30,964 | 36,209 | 42,751 | |
| 274 | 280 | 236 | 210 | 184 | 189 | 338 | 537 | 531 | 527 | |
| 251 | 254 | 325 | 475 | 591 | 791 | 872 | 1,091 | 1,106 | 1,329 | |
| Total Assets | 9,245 | 13,310 | 15,763 | 19,296 | 24,708 | 26,948 | 34,958 | 5 | 52,836 | 60,610 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,334 | 206 | 1,799 | 440 | 2,044 | 159 | -998 | 3,834 | 1,937 | -3,316 | |
| Cash from Investing | -405 | -4 | -7 | -72 | -43 | -89 | -261 | -360 | -239 | -185 |
| Cash from Financing | -563 | -28 | -1,706 | 908 | -1,154 | -1,317 | 60 | -1,210 | 259 | 3,641 |
| 366 | 173 | 86 | 1,276 | 847 | -1,246 | -1,199 | 2,264 | 1,957 | 140 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 1.04 | 0.32 | 2.09 | 2.31 | 3.37 | 2.24 | 5.16 | 7.04 | 1.29 | 0.90 |
| Book Value (₹) | 20.00 | 20.32 | 22.41 | 26.05 | 29.81 | 33.90 | 46.39 | 52.23 | 52.78 | 53.15 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 | 0.00 | 0.00 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.06% | 6.37% | 5.79% |
| ROA % | 1.79% | 0.28% | 1.45% | 1.39% | 1.75% | 1.09% | 1.85% | 1.99% | 0.30% | 0.18% |
| ROE % | 7.65% | 1.57% | 9.80% | 9.75% | 12.51% | 7.35% | 12.21% | 14.42% | 2.46% | 1.71% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 64.49% | 67.95% | 71.67% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.92% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.98% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 67.03% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 31.98% | 28.78% | 26.21% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 0.12% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | 22.34% | -69.43% | 561.50% | 15.70% | 57.70% | -26.94% | 104.32% | 39.29% | -81.59% | -29.90% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 12.59% | 1.04% | 0.72% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 13.13x | 42.63x | 57.20x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.77x | 1.04x | 0.97x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.08% | 0.00% | 0.00% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Equitas Small Finance Bank Limited has informed the Exchange about ESG rating
2026-09-09 - Equitas Small Finance Bank Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 09, 2026
2026-09-09 - Equitas Small Finance Bank Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-09-08 - Equitas Small Finance Bank Limited has informed the Exchange about affirmation and assignment of credit ratings
2026-09-08 - Equitas Small Finance Bank Limited has informed the Exchange about Credit Rating- New
2026-09-08 - Equitas Small Finance Bank Limited has informed the Exchange regarding Allotment of 194810 equity shares pursuant to exercise of ESOP
2026-09-08 - Equitas Small Finance Bank Limited has informed the Exchanges about reaffirmation of credit rating
2026-09-07 - Equitas Small Finance Bank Limited has informed the Exchange about appointment of Senior Management Personnel
2026-09-07 - Equitas Small Finance Bank Limited has informed the Exchange regarding a press release dated September 07, 2026, titled "Equitas Small Finance Bank Launches When Organisations Win , Exploring the Role of Governance, Trust and Values in Building Sustainable Organisations".
News
Recent coverage and analyst commentary for EQUITASBNK
Loading news…
AI Stock Analyst
Equitas Small Finance Bank Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account