ESAF Small Finance Bank Ltd.

•

₹ 43.941.55%

2026-08-21

esaf.bank.inBSE: 544020NSE: ESAFSFB

Market Cap₹ 2,163 Cr.

Current Price₹ 43

High / Low₹ 44 / 20

Stock P/E0.0

Book Value₹ 36

Price to Book0.58

Dividend Yield0.00 %

ROCE-1.6 %

ROE-8.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Retail Banking: 84.2% • Treasury: 9.3% • Other Banking Operations: 4.1% • Wholesale Banking: 2.4%

PROS

Comfortable capital adequacy - CAR of 22.2%
Latest quarter profit grew 198.6% YoY, showing strong momentum
Strong provisioning - provision coverage ratio of 85.5%
Healthy loan book growth of 19.8% with stable asset quality
Healthy net interest margin of 5.8%
Company has delivered good sales growth of 16.6% CAGR over last 5 years

CONS

Company is loss-making at the operating / net level
Asset quality is weak - gross NPA at 5.4%
Net NPA is elevated at 1.8% - provisioning cushion is thin
Weak return ratios for a lender: 3Y avg ROA -0.2%
Operating margins have contracted to 20.1% from 31.3%
Equity base is being diluted - shares outstanding up 14.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Financial ServicesBankBank - Private

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	HDFCBANK	720.15	14.05	1109831.87	2.15	203826.90	1092.64	905753.30	936.66	12.81	35.64
2.	ICICIBANK	1401.80	17.94	1006008.51	0.86	16209.74	12.62	52240.85	6.44	16.51	32.39
3.	KOTAKBANK	392.05	19.21	389986.67	0.17	5487.06	23.89	18354.57	6.41	12.05	19.05
4.	AXISBANK	1232.35	13.81	383618.90	0.08	7656.51	22.31	35541.96	9.87	11.04	63.88
5.	FEDERALBNK	359.45	18.97	88849.29	0.33	1297.61	37.06	7861.58	9.94	10.98	66.11
6.	IDBI	80.72	9.31	86793.39	0.00	2130.57	5.27	7549.28	7.44	14.76	76.80
7.	AUBANK	1071.30	44.12	80340.09	0.09	795.95	37.03	5302.74	21.11	14.17	56.24
8.	INDUSINDBK	1011.95	59.63	78845.13	0.15	1037.02	71.68	11309.94	-7.78	4.97	55.07
9.	IDFCFIRSTB	85.20	31.87	73452.79	0.29	1147.82	153.12	11051.09	14.61	5.42	38.45
10.	YESBANK	22.71	18.88	71281.66	0.00	1071.81	32.53	8054.49	5.92	8.04	58.47
11.	RBLBANK	381.00	65.69	59059.12	0.26	2342.30	993.41	38402.40	1015.97	6.49	40.95
12.	ESAFSFB	41.92	0.00	2163.15	0.00	80.08	198.60	1097.77	32.54	-1.58	33.93

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	899	943	974	1,002	1,022	995	948	892	828	820	894	995	1,098
Interest Expended	313	347	377	411	434	456	463	458	450	456	462	477	514
Net Interest Income	585	597	597	591	588	539	485	434	378	364	432	518	584
	93	79	120	150	115	98	114	145	195	145	269	201	248
Total Income	0	0	0	0	0	0	0	0	0	0	0	0	1,346
Operating Expenses	378	386	429	456	450	494	472	488	448	416	449	478	483
Operating Profit	301	290	288	285	254	143	127	91	125	93	253	241	349
Provisions & Contingencies	127	101	138	226	169	340	410	332	234	249	243	214	242
Profit before Tax	174	188	150	59	85	-255	-282	-241	-109	-155	9	27	107
Tax %	25.20%	25.58%	25.17%	25.94%	26.08%	25.36%	25.32%	23.94%	25.62%	25.49%	22.02%	13.22%	25.17%
Net Profit	130	140	112	43	63	-190	-211	-183	-81	-116	7	24	80
EPS	3	3	2	1	1	-4	-4	-4	-2	-2	0	0	0
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.40%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.83%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	85.50%
NIM %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.90%
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.40%
Capital Adequacy %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Assets %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.26%
Branches / ATMs / Employees	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.40%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.83%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	85.50%
NIM %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.90%
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.40%
Capital Adequacy %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Assets %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.26%
Branches / ATMs / Employees	—	—	—	—	—	—	—	—	—	—	—	—	—

Jun 2023

: 899
Interest Expended: 313
Net Interest Income: 585
: 93
Total Income: 0
Operating Expenses: 378
Operating Profit: 301
Provisions & Contingencies: 127
Profit before Tax: 174
Tax %: 25.20%
Net Profit: 130
EPS: 3
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Sep 2023

: 943
Interest Expended: 347
Net Interest Income: 597
: 79
Total Income: 0
Operating Expenses: 386
Operating Profit: 290
Provisions & Contingencies: 101
Profit before Tax: 188
Tax %: 25.58%
Net Profit: 140
EPS: 3
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Dec 2023

: 974
Interest Expended: 377
Net Interest Income: 597
: 120
Total Income: 0
Operating Expenses: 429
Operating Profit: 288
Provisions & Contingencies: 138
Profit before Tax: 150
Tax %: 25.17%
Net Profit: 112
EPS: 2
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Mar 2024

: 1,002
Interest Expended: 411
Net Interest Income: 591
: 150
Total Income: 0
Operating Expenses: 456
Operating Profit: 285
Provisions & Contingencies: 226
Profit before Tax: 59
Tax %: 25.94%
Net Profit: 43
EPS: 1
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Jun 2024

: 1,022
Interest Expended: 434
Net Interest Income: 588
: 115
Total Income: 0
Operating Expenses: 450
Operating Profit: 254
Provisions & Contingencies: 169
Profit before Tax: 85
Tax %: 26.08%
Net Profit: 63
EPS: 1
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Sep 2024

: 995
Interest Expended: 456
Net Interest Income: 539
: 98
Total Income: 0
Operating Expenses: 494
Operating Profit: 143
Provisions & Contingencies: 340
Profit before Tax: -255
Tax %: 25.36%
Net Profit: -190
EPS: -4
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Dec 2024

: 948
Interest Expended: 463
Net Interest Income: 485
: 114
Total Income: 0
Operating Expenses: 472
Operating Profit: 127
Provisions & Contingencies: 410
Profit before Tax: -282
Tax %: 25.32%
Net Profit: -211
EPS: -4
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Mar 2025

: 892
Interest Expended: 458
Net Interest Income: 434
: 145
Total Income: 0
Operating Expenses: 488
Operating Profit: 91
Provisions & Contingencies: 332
Profit before Tax: -241
Tax %: 23.94%
Net Profit: -183
EPS: -4
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Jun 2025

: 828
Interest Expended: 450
Net Interest Income: 378
: 195
Total Income: 0
Operating Expenses: 448
Operating Profit: 125
Provisions & Contingencies: 234
Profit before Tax: -109
Tax %: 25.62%
Net Profit: -81
EPS: -2
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Sep 2025

: 820
Interest Expended: 456
Net Interest Income: 364
: 145
Total Income: 0
Operating Expenses: 416
Operating Profit: 93
Provisions & Contingencies: 249
Profit before Tax: -155
Tax %: 25.49%
Net Profit: -116
EPS: -2
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Dec 2025

: 894
Interest Expended: 462
Net Interest Income: 432
: 269
Total Income: 0
Operating Expenses: 449
Operating Profit: 253
Provisions & Contingencies: 243
Profit before Tax: 9
Tax %: 22.02%
Net Profit: 7
EPS: 0
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Mar 2026

: 995
Interest Expended: 477
Net Interest Income: 518
: 201
Total Income: 0
Operating Expenses: 478
Operating Profit: 241
Provisions & Contingencies: 214
Profit before Tax: 27
Tax %: 13.22%
Net Profit: 24
EPS: 0
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
NIM %: 0.00%
CASA %: 0.00%
Capital Adequacy %: 0.00%
Return on Assets %: 0.00%
Branches / ATMs / Employees: —

Jun 2026

: 1,098
Interest Expended: 514
Net Interest Income: 584
: 248
Total Income: 1,346
Operating Expenses: 483
Operating Profit: 349
Provisions & Contingencies: 242
Profit before Tax: 107
Tax %: 25.17%
Net Profit: 80
EPS: 0
Gross NPA %: 5.40%
Net NPA %: 0.83%
Provision Coverage %: 85.50%
NIM %: 7.90%
CASA %: 23.40%
Capital Adequacy %: 0.00%
Return on Assets %: 0.26%
Branches / ATMs / Employees: —
Gross NPA %: 5.40%
Net NPA %: 0.83%
Provision Coverage %: 85.50%
NIM %: 7.90%
CASA %: 23.40%
Capital Adequacy %: 0.00%
Return on Assets %: 0.26%
Branches / ATMs / Employees: —

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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	3,819	3,858	3,537	—
Interest Expended	16	315	458	621	720	793	1,017	1,449	1,811	1,837	1,908
Net Interest Income	-16	-315	-458	-621	-720	-793	-1,017	2,370	2,047	1,700	—
	19	102	109	133	127	208	288	442	472	811	864
Total Income	0	0	0	0	0	0	0	4,260	4,329	4,348	1,346
	0	0	0	0	0	0	0	1,649	1,962	1,799	—
Operating Profit	-16	-315	-458	-621	-720	-793	-1,017	1,163	557	712	—
	5	34	101	61	281	414	483	592	1,250	940	—
Profit before Tax	2	44	127	256	141	74	406	570	-693	-228	-12
Tax %	0	0	0	0	0	0	0	25	25	27	58
Net Profit	1	27	90	190	105	55	302	426	-521	-166	-5
EPS	0	1	2	4	2	1	7	8	-10	-3	—
NIM %	—	—	—	—	—	—	—	—	—	—	—
Cost-to-Income %	—	—	—	—	—	—	—	—	—	—	—
Credit Cost %	—	—	—	—	—	—	—	—	—	—	—
NIM %	—	—	—	—	—	—	—	—	—	—	—
Cost-to-Income %	—	—	—	—	—	—	—	—	—	—	—
Credit Cost %	—	—	—	—	—	—	—	—	—	—	—

Mar 2017

: 0
Interest Expended: 16
Net Interest Income: -16
: 19
Total Income: 0
: 0
Operating Profit: -16
: 5
Profit before Tax: 2
Tax %: 0
Net Profit: 1
EPS: 0
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2018

: 0
Interest Expended: 315
Net Interest Income: -315
: 102
Total Income: 0
: 0
Operating Profit: -315
: 34
Profit before Tax: 44
Tax %: 0
Net Profit: 27
EPS: 1
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2019

: 0
Interest Expended: 458
Net Interest Income: -458
: 109
Total Income: 0
: 0
Operating Profit: -458
: 101
Profit before Tax: 127
Tax %: 0
Net Profit: 90
EPS: 2
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2020

: 0
Interest Expended: 621
Net Interest Income: -621
: 133
Total Income: 0
: 0
Operating Profit: -621
: 61
Profit before Tax: 256
Tax %: 0
Net Profit: 190
EPS: 4
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2021

: 0
Interest Expended: 720
Net Interest Income: -720
: 127
Total Income: 0
: 0
Operating Profit: -720
: 281
Profit before Tax: 141
Tax %: 0
Net Profit: 105
EPS: 2
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2022

: 0
Interest Expended: 793
Net Interest Income: -793
: 208
Total Income: 0
: 0
Operating Profit: -793
: 414
Profit before Tax: 74
Tax %: 0
Net Profit: 55
EPS: 1
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2023

: 0
Interest Expended: 1,017
Net Interest Income: -1,017
: 288
Total Income: 0
: 0
Operating Profit: -1,017
: 483
Profit before Tax: 406
Tax %: 0
Net Profit: 302
EPS: 7
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2024

: 3,819
Interest Expended: 1,449
Net Interest Income: 2,370
: 442
Total Income: 4,260
: 1,649
Operating Profit: 1,163
: 592
Profit before Tax: 570
Tax %: 25
Net Profit: 426
EPS: 8
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2025

: 3,858
Interest Expended: 1,811
Net Interest Income: 2,047
: 472
Total Income: 4,329
: 1,962
Operating Profit: 557
: 1,250
Profit before Tax: -693
Tax %: 25
Net Profit: -521
EPS: -10
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2026

: 3,537
Interest Expended: 1,837
Net Interest Income: 1,700
: 811
Total Income: 4,348
: 1,799
Operating Profit: 712
: 940
Profit before Tax: -228
Tax %: 27
Net Profit: -166
EPS: -3
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

TTM

: —
Interest Expended: 1,908
Net Interest Income: —
: 864
Total Income: 1,346
: —
Operating Profit: —
: —
Profit before Tax: -12
Tax %: 58
Net Profit: -5
EPS: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 17%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 45%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 2%
3 Years:: -4%
Last Year:: -9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	302	312	428	428	449	449	449	515	515	516
	4	31	466	656	903	957	1,260	1,971	1,430	1,264
	409	2,523	4,317	7,028	8,999	12,815	14,666	19,868	23,276	25,850
	2,053	1,675	1,702	1,203	1,694	2,953	3,354	3,223	1,406	2,753
Other Liabilities & Provisions	171	183	144	154	293	528	489	505	547	479
Total Liabilities	2,938	4,724	7,057	9,470	12,339	17,708	20,224	3	3	30,868
ASSETS	-	-	-	-	-	-	-	-	-	-
	107	438	247	305	1,618	1,301	740	1,365	1,351	1,114
Balances with Banks & Money at Call	449	259	535	598	201	211	28	58	628	61
	579	732	1,531	1,734	1,932	4,070	4,889	5,541	5,995	6,399
	1,482	3,155	4,548	6,548	8,168	11,637	13,924	18,293	18,028	21,594
	31	60	86	116	133	159	188	205	237	226
	288	71	107	166	281	329	456	622	876	1,184
Total Assets	2,938	4,724	7,057	9,470	12,339	17,708	20,224	3	3	30,868
CASA Deposits	74	205	551	902	1,594	2,708	2,874	4,170	5,452	5,816
CASA Ratio (%)	18.07	8.14	12.76	12.84	17.72	21.13	19.59	20.99	23.42	22.50
Credit-Deposit Ratio (%)	361.98	125.05	105.36	93.16	90.76	90.81	94.95	92.07	77.45	83.54
Contingent Liabilities	68	62	58	2	2	2	2	2	199	515
Bills for Collection	0	0	0	0	0	0	0	0	0	0
Book Value per Share	10.14	11.01	20.89	25.34	30.08	31.30	38.03	48.29	37.74	34.52
CASA Deposits	74	205	551	902	1,594	2,708	2,874	4,170	5,452	5,816
CASA Ratio (%)	18.07	8.14	12.76	12.84	17.72	21.13	19.59	20.99	23.42	22.50
Credit-Deposit Ratio (%)	361.98	125.05	105.36	93.16	90.76	90.81	94.95	92.07	77.45	83.54
Contingent Liabilities	68	62	58	2	2	2	2	2	199	515
Bills for Collection	0	0	0	0	0	0	0	0	0	0
Book Value per Share	10.14	11.01	20.89	25.34	30.08	31.30	38.03	48.29	37.74	34.52

Mar 2017

Equity Capital: 302
: 4
: 409
: 2,053
Other Liabilities & Provisions: 171
Total Liabilities: 2,938
: 107
Balances with Banks & Money at Call: 449
: 579
: 1,482
: 31
: 288
Total Assets: 2,938
CASA Deposits: 74
CASA Ratio (%): 18.07
Credit-Deposit Ratio (%): 361.98
Contingent Liabilities: 68
Bills for Collection: 0
Book Value per Share: 10.14
CASA Deposits: 74
CASA Ratio (%): 18.07
Credit-Deposit Ratio (%): 361.98
Contingent Liabilities: 68
Bills for Collection: 0
Book Value per Share: 10.14

Mar 2018

Equity Capital: 312
: 31
: 2,523
: 1,675
Other Liabilities & Provisions: 183
Total Liabilities: 4,724
: 438
Balances with Banks & Money at Call: 259
: 732
: 3,155
: 60
: 71
Total Assets: 4,724
CASA Deposits: 205
CASA Ratio (%): 8.14
Credit-Deposit Ratio (%): 125.05
Contingent Liabilities: 62
Bills for Collection: 0
Book Value per Share: 11.01
CASA Deposits: 205
CASA Ratio (%): 8.14
Credit-Deposit Ratio (%): 125.05
Contingent Liabilities: 62
Bills for Collection: 0
Book Value per Share: 11.01

Mar 2019

Equity Capital: 428
: 466
: 4,317
: 1,702
Other Liabilities & Provisions: 144
Total Liabilities: 7,057
: 247
Balances with Banks & Money at Call: 535
: 1,531
: 4,548
: 86
: 107
Total Assets: 7,057
CASA Deposits: 551
CASA Ratio (%): 12.76
Credit-Deposit Ratio (%): 105.36
Contingent Liabilities: 58
Bills for Collection: 0
Book Value per Share: 20.89
CASA Deposits: 551
CASA Ratio (%): 12.76
Credit-Deposit Ratio (%): 105.36
Contingent Liabilities: 58
Bills for Collection: 0
Book Value per Share: 20.89

Mar 2020

Equity Capital: 428
: 656
: 7,028
: 1,203
Other Liabilities & Provisions: 154
Total Liabilities: 9,470
: 305
Balances with Banks & Money at Call: 598
: 1,734
: 6,548
: 116
: 166
Total Assets: 9,470
CASA Deposits: 902
CASA Ratio (%): 12.84
Credit-Deposit Ratio (%): 93.16
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 25.34
CASA Deposits: 902
CASA Ratio (%): 12.84
Credit-Deposit Ratio (%): 93.16
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 25.34

Mar 2021

Equity Capital: 449
: 903
: 8,999
: 1,694
Other Liabilities & Provisions: 293
Total Liabilities: 12,339
: 1,618
Balances with Banks & Money at Call: 201
: 1,932
: 8,168
: 133
: 281
Total Assets: 12,339
CASA Deposits: 1,594
CASA Ratio (%): 17.72
Credit-Deposit Ratio (%): 90.76
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 30.08
CASA Deposits: 1,594
CASA Ratio (%): 17.72
Credit-Deposit Ratio (%): 90.76
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 30.08

Mar 2022

Equity Capital: 449
: 957
: 12,815
: 2,953
Other Liabilities & Provisions: 528
Total Liabilities: 17,708
: 1,301
Balances with Banks & Money at Call: 211
: 4,070
: 11,637
: 159
: 329
Total Assets: 17,708
CASA Deposits: 2,708
CASA Ratio (%): 21.13
Credit-Deposit Ratio (%): 90.81
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 31.30
CASA Deposits: 2,708
CASA Ratio (%): 21.13
Credit-Deposit Ratio (%): 90.81
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 31.30

Mar 2023

Equity Capital: 449
: 1,260
: 14,666
: 3,354
Other Liabilities & Provisions: 489
Total Liabilities: 20,224
: 740
Balances with Banks & Money at Call: 28
: 4,889
: 13,924
: 188
: 456
Total Assets: 20,224
CASA Deposits: 2,874
CASA Ratio (%): 19.59
Credit-Deposit Ratio (%): 94.95
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 38.03
CASA Deposits: 2,874
CASA Ratio (%): 19.59
Credit-Deposit Ratio (%): 94.95
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 38.03

Mar 2024

Equity Capital: 515
: 1,971
: 19,868
: 3,223
Other Liabilities & Provisions: 505
Total Liabilities: 3
: 1,365
Balances with Banks & Money at Call: 58
: 5,541
: 18,293
: 205
: 622
Total Assets: 3
CASA Deposits: 4,170
CASA Ratio (%): 20.99
Credit-Deposit Ratio (%): 92.07
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 48.29
CASA Deposits: 4,170
CASA Ratio (%): 20.99
Credit-Deposit Ratio (%): 92.07
Contingent Liabilities: 2
Bills for Collection: 0
Book Value per Share: 48.29

Mar 2025

Equity Capital: 515
: 1,430
: 23,276
: 1,406
Other Liabilities & Provisions: 547
Total Liabilities: 3
: 1,351
Balances with Banks & Money at Call: 628
: 5,995
: 18,028
: 237
: 876
Total Assets: 3
CASA Deposits: 5,452
CASA Ratio (%): 23.42
Credit-Deposit Ratio (%): 77.45
Contingent Liabilities: 199
Bills for Collection: 0
Book Value per Share: 37.74
CASA Deposits: 5,452
CASA Ratio (%): 23.42
Credit-Deposit Ratio (%): 77.45
Contingent Liabilities: 199
Bills for Collection: 0
Book Value per Share: 37.74

Mar 2026

Equity Capital: 516
: 1,264
: 25,850
: 2,753
Other Liabilities & Provisions: 479
Total Liabilities: 30,868
: 1,114
Balances with Banks & Money at Call: 61
: 6,399
: 21,594
: 226
: 1,184
Total Assets: 30,868
CASA Deposits: 5,816
CASA Ratio (%): 22.50
Credit-Deposit Ratio (%): 83.54
Contingent Liabilities: 515
Bills for Collection: 0
Book Value per Share: 34.52
CASA Deposits: 5,816
CASA Ratio (%): 22.50
Credit-Deposit Ratio (%): 83.54
Contingent Liabilities: 515
Bills for Collection: 0
Book Value per Share: 34.52

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1,393	700	-240	1,089	1,127	-585	-571	1,001	3,176	-1,960
Cash from Investing	-473	-181	-170	-635	-638	-982	-573	-583	-769	-192
Cash from Financing	2,358	-368	488	-499	653	1,259	399	235	-1,852	1,347
	492	151	78	-45	1,143	-308	-745	653	556	-805

Mar 2017

: -1,393
Cash from Investing: -473
Cash from Financing: 2,358
: 492

Mar 2018

: 700
Cash from Investing: -181
Cash from Financing: -368
: 151

Mar 2019

: -240
Cash from Investing: -170
Cash from Financing: 488
: 78

Mar 2020

: 1,089
Cash from Investing: -635
Cash from Financing: -499
: -45

Mar 2021

: 1,127
Cash from Investing: -638
Cash from Financing: 653
: 1,143

Mar 2022

: -585
Cash from Investing: -982
Cash from Financing: 1,259
: -308

Mar 2023

: -571
Cash from Investing: -573
Cash from Financing: 399
: -745

Mar 2024

: 1,001
Cash from Investing: -583
Cash from Financing: 235
: 653

Mar 2025

: 3,176
Cash from Investing: -769
Cash from Financing: -1,852
: 556

Mar 2026

: -1,960
Cash from Investing: -192
Cash from Financing: 1,347
: -805

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	0.03	0.87	2.11	4.45	2.34	1.22	6.73	8.27	-10.12	-3.23
Book Value (₹)	10.14	11.01	20.89	25.34	30.08	31.30	38.03	48.29	37.74	34.52
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.70	0.00	0.00
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.38%	7.87%	5.83%
ROA %	0.03%	0.70%	1.53%	2.30%	0.97%	0.36%	1.59%	1.84%	-1.96%	-0.57%
ROE %	0.25%	8.32%	14.60%	19.25%	8.65%	3.97%	19.41%	20.29%	-23.53%	-8.93%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	58.65%	77.88%	71.64%
ASSET QUALITY	-	-	-	-	-	-	-	-	-	-
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.48%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.77%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	73.20%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY	-	-	-	-	-	-	-	-	-	-
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.66%	24.84%	23.91%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.06%	0.11%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.27%	21.84%	22.22%
GROWTH & VALUATION	-	-	-	-	-	-	-	-	-	-
Net Profit Growth %	0.00%	3438.20%	234.45%	110.88%	-44.64%	-48.07%	452.39%	40.76%	-222.52%	68.08%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	27.01%	-21.86%	-8.52%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.56x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.12x	0.65x	0.58x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.29%	0.00%	0.00%

Mar 2017

EPS (₹): 0.03
Book Value (₹): 10.14
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.03%
ROE %: 0.25%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: 0.00%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2018

EPS (₹): 0.87
Book Value (₹): 11.01
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.70%
ROE %: 8.32%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: 3438.20%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2019

EPS (₹): 2.11
Book Value (₹): 20.89
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 1.53%
ROE %: 14.60%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: 234.45%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2020

EPS (₹): 4.45
Book Value (₹): 25.34
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 2.30%
ROE %: 19.25%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: 110.88%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2021

EPS (₹): 2.34
Book Value (₹): 30.08
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.97%
ROE %: 8.65%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: -44.64%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2022

EPS (₹): 1.22
Book Value (₹): 31.30
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.36%
ROE %: 3.97%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: -48.07%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2023

EPS (₹): 6.73
Book Value (₹): 38.03
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 1.59%
ROE %: 19.41%
: 0.00%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 0.00%
Credit-Deposit Ratio %: 0.00%
: 0.00%
Net Profit Growth %: 452.39%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2024

EPS (₹): 8.27
Book Value (₹): 48.29
Dividend per Share (₹): 0.70
Net Interest Margin %: 9.38%
ROA %: 1.84%
ROE %: 20.29%
: 58.65%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 22.66%
Credit-Deposit Ratio %: 0.16%
: 23.27%
Net Profit Growth %: 40.76%
Book Value Growth %: 27.01%
P/E (x): 6.56x
P/B (x): 1.12x
: 1.29%

Mar 2025

EPS (₹): -10.12
Book Value (₹): 37.74
Dividend per Share (₹): 0.00
Net Interest Margin %: 7.87%
ROA %: -1.96%
ROE %: -23.53%
: 77.88%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 24.84%
Credit-Deposit Ratio %: 0.06%
: 21.84%
Net Profit Growth %: -222.52%
Book Value Growth %: -21.86%
P/E (x): 0.00x
P/B (x): 0.65x
: 0.00%

Mar 2026

EPS (₹): -3.23
Book Value (₹): 34.52
Dividend per Share (₹): 0.00
Net Interest Margin %: 5.83%
ROA %: -0.57%
ROE %: -8.93%
: 71.64%
Gross NPA %: 7.48%
Net NPA %: 3.77%
Provision Coverage %: 73.20%
Slippage Ratio %: —
CASA %: 23.91%
Credit-Deposit Ratio %: 0.11%
: 22.22%
Net Profit Growth %: 68.08%
Book Value Growth %: -8.52%
P/E (x): 0.00x
P/B (x): 0.58x
: 0.00%

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.39	63.38	63.36	63.31	63.31	63.30	63.30	63.28	63.25
	0.12	0.15	0.16	0.27	0.16	0.16	0.01	0.01	0.31
	8.90	5.56	5.02	5.00	5.00	5.00	4.97	4.63	3.80
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.59	30.91	31.46	31.42	31.52	31.53	31.73	32.08	32.64

Jun 2024

: 63.39
: 0.12
: 8.90
Government: 0.00
: 27.59

Sep 2024

: 63.38
: 0.15
: 5.56
Government: 0.00
: 30.91

Dec 2024

: 63.36
: 0.16
: 5.02
Government: 0.00
: 31.46

Mar 2025

: 63.31
: 0.27
: 5.00
Government: 0.00
: 31.42

Jun 2025

: 63.31
: 0.16
: 5.00
Government: 0.00
: 31.52

Sep 2025

: 63.30
: 0.16
: 5.00
Government: 0.00
: 31.53

Dec 2025

: 63.30
: 0.01
: 4.97
Government: 0.00
: 31.73

Mar 2026

: 63.28
: 0.01
: 4.63
Government: 0.00
: 32.08

Jun 2026

: 63.25
: 0.31
: 3.80
Government: 0.00
: 32.64

Documents

Announcements

Credit Rating
2026-08-18 - ESAF Small Finance Bank Limited has informed the Exchange about Credit Rating
Change in Auditors
2026-08-14 - ESAF Small Finance Bank Limited has informed the Exchange regarding Change in Auditors of the company.

Annual Reports

Credit Ratings

Credit Rating
2026-08-18 - ESAF Small Finance Bank Limited has informed the Exchange about Credit Rating

Concalls

Aug 2026
TranscriptPPTREC
Jul 2026
TranscriptPPTREC
May 2026
Transcript PPTREC