Suryoday Small Finance Bank Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Retail Banking: 81.9% • Treasury: 10.6% • Corporate: 5.7%
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
- Company has delivered good profit growth of 66.6% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 20.4%
- Latest quarter profit grew 113.1% YoY, showing strong momentum
- Healthy loan book growth of 29.1% with stable asset quality
- Strong provisioning - provision coverage ratio of 81.8%
- Company has delivered good sales growth of 22.7% CAGR over last 5 years
CONS
- Net NPA is elevated at 4.2% - provisioning cushion is thin
- Asset quality is weak - gross NPA at 6.5%
- A large part of profit comes from other income (180.2% of PBT)
- Operating margins have contracted to 17.8% from 28.5%
- Growth is decelerating - 3Y profit CAGR (25.1%) trails the 5Y trend (66.6%)
- Though reporting repeated profits, the company pays out little dividend (10.5%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 713.15 | 13.91 | 1099262.18 | 2.17 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1423.00 | 18.21 | 1021340.80 | 0.84 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 424.85 | 20.82 | 422626.17 | 0.15 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1273.00 | 14.27 | 396316.12 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 90.68 | 10.46 | 97502.78 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 343.00 | 18.11 | 84792.00 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1066.80 | 43.94 | 80071.67 | 0.09 | 7959.53 | 1270.31 | 53027.42 | 1111.10 | 14.17 | 56.24 |
| INDUSINDBK | 1006.00 | 59.28 | 78381.54 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.67 | 32.42 | 74724.36 | 0.29 | 1147.82 | 153.12 | 11051.09 | 14.61 | 5.42 | 38.45 |
| YESBANK | 22.49 | 18.70 | 70592.28 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 414.35 | 71.48 | 64263.17 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| SURYODAY | 152.00 | 8.42 | 1615.71 | 0.99 | 75.18 | 113.10 | 622.36 | 25.69 | 7.72 | 41.88 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 358 | 375 | 411 | 445 | 488 | 507 | 488 | 471 | 495 | 520 | 544 | 602 | 622 | |
| Interest Expended | 133 | 154 | 165 | 174 | 195 | 207 | 220 | 226 | 248 | 261 | 267 | 285 | 307 |
| Net Interest Income | 225 | 221 | 246 | 271 | 293 | 300 | 268 | 245 | 247 | 258 | 277 | 317 | 316 |
| 51 | 52 | 52 | 65 | 70 | 47 | 40 | 60 | 109 | 80 | 81 | 90 | 148 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 692 | 770 |
| Operating Expenses | 159 | 178 | 183 | 207 | 219 | 221 | 236 | 258 | 247 | 259 | 269 | 300 | 325 |
| Operating Profit | 117 | 94 | 114 | 128 | 144 | 127 | 71 | 47 | 109 | 79 | 89 | 107 | 139 |
| Provisions & Contingencies | 54 | 27 | 38 | 48 | 52 | 67 | 34 | 93 | 62 | 40 | 41 | 41 | 37 |
| Profit before Tax | 63 | 68 | 76 | 80 | 93 | 60 | 38 | -47 | 47 | 39 | 48 | 66 | 102 |
| Tax % | 24.94% | 25.68% | 25.01% | 24.11% | 24.44% | 24.54% | 11.76% | 27.79% | 24.66% | 22.62% | 23.50% | 24.27% | 26.22% |
| Net Profit | 48 | 50 | 57 | 61 | 70 | 45 | 33 | -34 | 35 | 30 | 37 | 50 | 75 |
| EPS | 4 | 5 | 5 | 6 | 7 | 4 | 3 | -3 | 3 | 3 | 3 | 5 | 1 |
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 | 1,589 | 1,954 | 2,160 | — | |
| Interest Expended | 115 | 123 | 191 | 276 | 366 | 357 | 437 | 626 | 848 | 1,062 | 1,120 |
| Net Interest Income | -115 | -123 | -191 | -276 | -366 | -357 | -437 | 962 | 1,106 | 1,099 | — |
| 1 | 38 | 67 | 87 | 76 | 94 | 97 | 219 | 217 | 360 | 399 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,808 | 2,171 | 2,520 | 1,462 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 728 | 934 | 1,074 | — | |
| Operating Profit | -115 | -123 | -191 | -276 | -366 | -357 | -437 | 454 | 389 | 384 | — |
| 6 | 52 | 45 | 65 | 165 | 326 | 285 | 166 | 245 | 184 | — | |
| Profit before Tax | 24 | 16 | 138 | 154 | 12 | -127 | 101 | 288 | 144 | 200 | 255 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -0.00% | 0.00% | 24.90% | 20.07% | 23.85% | 24.65% |
| Net Profit | 15 | 10 | 87 | 111 | 12 | -93 | 78 | 216 | 115 | 152 | 192 |
| EPS | 3 | 2 | 13 | 13 | 1 | -9 | 7 | 20 | 11 | 14 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 27%
- 5 Years:
- 23%
- 3 Years:
- 22%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 19%
- 5 Years:
- 67%
- 3 Years:
- 25%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 0%
- 3 Years:
- -4%
- 1 Year:
- 22%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 5%
- 3 Years:
- 9%
- Last Year:
- 8%
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 | 64 | 67 | 82 | 87 | 106 | 106 | 106 | 106 | 106 | 106 |
| 436 | 469 | 794 | 973 | 1,481 | 1,390 | 1,470 | 1,689 | 1,809 | 1,962 | |
| 22 | 750 | 1,593 | 2,849 | 3,256 | 3,854 | 5,167 | 7,777 | 10,580 | 13,994 | |
| 1,022 | 718 | 1,124 | 1,265 | 1,667 | 2,551 | 2,765 | 2,443 | 2,710 | 3,122 | |
| Other Liabilities & Provisions | 60 | 156 | 163 | 185 | 193 | 270 | 344 | 352 | 397 | 689 |
| Total Liabilities | 1,604 | 2,164 | 3,761 | 5,365 | 6,712 | 8,180 | 9,861 | 1 | 2 | 19,884 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 27 | 31 | 48 | 61 | 103 | 607 | 784 | 814 | 1,466 | 1,714 | |
| Balances with Banks & Money at Call | 107 | 176 | 228 | 777 | 494 | 370 | 41 | 366 | 243 | 385 |
| 594 | 311 | 664 | 808 | 1,874 | 2,058 | 2,570 | 2,599 | 3,137 | 3,693 | |
| 820 | 1,575 | 2,680 | 3,532 | 3,983 | 4,751 | 6,015 | 8,078 | 9,974 | 12,879 | |
| 6 | 13 | 18 | 30 | 35 | 66 | 163 | 152 | 156 | 293 | |
| 49 | 57 | 122 | 148 | 216 | 279 | 286 | 352 | 503 | 916 | |
| Total Assets | 1,604 | 2,164 | 3,761 | 5,365 | 6,712 | 8,180 | 9,861 | 1 | 2 | 19,884 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -231 | 458 | -548 | 526 | -876 | -347 | -98 | 935 | 1,320 | 652 | |
| Cash from Investing | -158 | -84 | -14 | -167 | -280 | -158 | -266 | -263 | -1,059 | -792 |
| Cash from Financing | 350 | -285 | 658 | 210 | 915 | 885 | 213 | -322 | 268 | 412 |
| -39 | 88 | 97 | 569 | -241 | 381 | -150 | 349 | 529 | 273 |
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 (₹) | 2.36 | 1.50 | 10.61 | 12.81 | 1.12 | -8.76 | 7.32 | 20.34 | 10.82 | 14.30 |
| Book Value (₹) | 77.98 | 79.46 | 107.38 | 122.31 | 149.51 | 140.91 | 148.45 | 169.01 | 180.19 | 194.58 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.50 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 8.12% | 7.46% | 5.88% |
| ROA % | 1.08% | 0.54% | 2.92% | 2.43% | 0.20% | -1.25% | 0.86% | 1.94% | 0.82% | 0.86% |
| ROE % | 4.34% | 1.95% | 12.26% | 11.47% | 0.90% | -6.04% | 5.06% | 12.81% | 6.20% | 7.63% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 61.61% | 70.59% | 73.67% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 6.55% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.21% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 37.30% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 20.13% | 20.91% | 22.60% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.31% | 0.26% | 0.22% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 28.41% | 25.83% | 20.45% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | -44.98% | -32.95% | 755.27% | 28.10% | -89.31% | -884.72% | 183.51% | 177.97% | -46.77% | 32.19% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.85% | 6.62% | 7.99% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.92x | 9.28x | 8.31x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.95x | 0.56x | 0.61x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.26% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-13 - Intimation regarding the allotment of Equity Shares of the Bank pursuant to exercise of Stock Options under Suryoday ESOP Scheme 2019.
2026-08-09 - Suryoday Small Finance Bank Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-09 - Intimation regarding retirement of Mr. John Arunkumar Diaz (DIN: 00493304), as an Independent Director of the Bank and resignation of Mr. Krishna Kant Chaturvedi, from the position of Company Secretary and Compliance Officer and Key Managerial Personnel
2026-08-07 - Submission of Results of e-voting (i.e., Remote e-voting as well as e-voting during the AGM/Insta-poll) on the Resolutions set out in the Notice convening 18th Annual General Meeting of the Bank for seeking approval of the Members with Revised Annexure-1B
2026-08-06 - Suryoday Small Finance Bank Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 06, 2026
2026-08-06 - Suryoday Small Finance Bank Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 06, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-30 - Suryoday Small Finance Bank Limited has informed the Exchange regarding Trading Plan pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-07-29 - Suryoday Small Finance Bank Limited has informed the Exchange about Transcript
2026-07-25 - Suryoday Small Finance Bank Limited has informed the Exchange about Copy of Newspaper Publication regarding Unaudited Financial Results of the Bank for the Quarter (Q-1) ended June 30, 2026.
News
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