Utkarsh Small Finance Bank Ltd.

•

₹ 14.433.66%

2026-08-21

utkarsh.bank.inBSE: 543942NSE: UTKARSHBNK

Market Cap₹ 2,477 Cr.

Current Price₹ 14

High / Low₹ 22 / 10

Stock P/E0.0

Book Value₹ 15

Price to Book0.67

Dividend Yield0.00 %

ROCE-24.0 %

ROE-40.7 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Retail Banking: 77.4% • Treasury: 15.0% • Corporate/Wholesale Banking: 7.6%

PROS

Comfortable capital adequacy - CAR of 17.7%
Healthy net interest margin of 5.4%
Company has delivered good sales growth of 16.4% CAGR over last 5 years
Institutional investors have been accumulating - FII+DII up 16.8pp
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Asset quality is weak - gross NPA at 7.7%
Net NPA is elevated at 3.3% - provisioning cushion is thin
Promoter holding has decreased over last 2 years: -26.3pp
Weak return ratios for a lender: 3Y avg ROA -0.5%

* 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.	UTKARSHBNK	13.92	0.00	2477.10	0.00	-339.20	-41.64	8835.63	903.01	-24.00	33.64

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
	720	756	806	896	966	987	932	880	881	840	821	837	8,836
Interest Expended	298	315	324	356	393	429	452	468	479	490	473	461	4,615
Net Interest Income	422	442	482	540	573	558	480	411	402	350	348	376	4,221
	92	105	83	121	105	103	105	287	138	97	81	115	1,188
Total Income	0	0	0	0	0	0	0	0	0	0	0	0	10,024
Operating Expenses	293	309	309	378	367	384	400	465	448	451	473	479	4,773
Operating Profit	221	238	256	282	311	276	185	234	92	-3	-44	12	636
Provisions & Contingencies	77	83	104	74	125	208	423	223	411	462	446	244	1,090
Profit before Tax	145	154	152	208	186	68	-238	11	-319	-465	-491	-232	-454
Tax %	25.64%	25.91%	23.67%	23.37%	26.22%	24.50%	29.37%	73.67%	24.90%	25.06%	23.57%	18.99%	25.31%
Net Profit	108	114	116	160	137	51	-168	3	-239	-348	-375	-188	-339
EPS	1	1	1	1	1	0	-2	0	-2	-3	-2	-1	-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%	6.09%
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%	2.86%
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%	54.60%
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%	6.10%
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%	22.00%
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%	17.44%
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%	-0.12%
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%	6.09%
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%	2.86%
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%	54.60%
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%	6.10%
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%	22.00%
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%	17.44%
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%	-0.12%
Branches / ATMs / Employees	—	—	—	—	—	—	—	—	—	—	—	—	—

Jun 2023

: 720
Interest Expended: 298
Net Interest Income: 422
: 92
Total Income: 0
Operating Expenses: 293
Operating Profit: 221
Provisions & Contingencies: 77
Profit before Tax: 145
Tax %: 25.64%
Net Profit: 108
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 2023

: 756
Interest Expended: 315
Net Interest Income: 442
: 105
Total Income: 0
Operating Expenses: 309
Operating Profit: 238
Provisions & Contingencies: 83
Profit before Tax: 154
Tax %: 25.91%
Net Profit: 114
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: —

Dec 2023

: 806
Interest Expended: 324
Net Interest Income: 482
: 83
Total Income: 0
Operating Expenses: 309
Operating Profit: 256
Provisions & Contingencies: 104
Profit before Tax: 152
Tax %: 23.67%
Net Profit: 116
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: —

Mar 2024

: 896
Interest Expended: 356
Net Interest Income: 540
: 121
Total Income: 0
Operating Expenses: 378
Operating Profit: 282
Provisions & Contingencies: 74
Profit before Tax: 208
Tax %: 23.37%
Net Profit: 160
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

: 966
Interest Expended: 393
Net Interest Income: 573
: 105
Total Income: 0
Operating Expenses: 367
Operating Profit: 311
Provisions & Contingencies: 125
Profit before Tax: 186
Tax %: 26.22%
Net Profit: 137
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

: 987
Interest Expended: 429
Net Interest Income: 558
: 103
Total Income: 0
Operating Expenses: 384
Operating Profit: 276
Provisions & Contingencies: 208
Profit before Tax: 68
Tax %: 24.50%
Net Profit: 51
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: —

Dec 2024

: 932
Interest Expended: 452
Net Interest Income: 480
: 105
Total Income: 0
Operating Expenses: 400
Operating Profit: 185
Provisions & Contingencies: 423
Profit before Tax: -238
Tax %: 29.37%
Net Profit: -168
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 2025

: 880
Interest Expended: 468
Net Interest Income: 411
: 287
Total Income: 0
Operating Expenses: 465
Operating Profit: 234
Provisions & Contingencies: 223
Profit before Tax: 11
Tax %: 73.67%
Net Profit: 3
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 2025

: 881
Interest Expended: 479
Net Interest Income: 402
: 138
Total Income: 0
Operating Expenses: 448
Operating Profit: 92
Provisions & Contingencies: 411
Profit before Tax: -319
Tax %: 24.90%
Net Profit: -239
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

: 840
Interest Expended: 490
Net Interest Income: 350
: 97
Total Income: 0
Operating Expenses: 451
Operating Profit: -3
Provisions & Contingencies: 462
Profit before Tax: -465
Tax %: 25.06%
Net Profit: -348
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 2025

: 821
Interest Expended: 473
Net Interest Income: 348
: 81
Total Income: 0
Operating Expenses: 473
Operating Profit: -44
Provisions & Contingencies: 446
Profit before Tax: -491
Tax %: 23.57%
Net Profit: -375
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 2026

: 837
Interest Expended: 461
Net Interest Income: 376
: 115
Total Income: 0
Operating Expenses: 479
Operating Profit: 12
Provisions & Contingencies: 244
Profit before Tax: -232
Tax %: 18.99%
Net Profit: -188
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 2026

: 8,836
Interest Expended: 4,615
Net Interest Income: 4,221
: 1,188
Total Income: 10,024
Operating Expenses: 4,773
Operating Profit: 636
Provisions & Contingencies: 1,090
Profit before Tax: -454
Tax %: 25.31%
Net Profit: -339
EPS: -0
Gross NPA %: 6.09%
Net NPA %: 2.86%
Provision Coverage %: 54.60%
NIM %: 6.10%
CASA %: 22.00%
Capital Adequacy %: 17.44%
Return on Assets %: -0.12%
Branches / ATMs / Employees: —
Gross NPA %: 6.09%
Net NPA %: 2.86%
Provision Coverage %: 54.60%
NIM %: 6.10%
CASA %: 22.00%
Capital Adequacy %: 17.44%
Return on Assets %: -0.12%
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	3,178	3,765	3,379	—
Interest Expended	44	251	382	579	742	788	976	1,293	1,742	1,902	6,038
Net Interest Income	-44	-251	-382	-579	-742	-788	-976	1,886	2,023	1,477	—
	3	44	58	99	144	185	299	400	600	431	1,481
Total Income	0	0	0	0	0	0	0	3,579	4,365	3,810	10,024
	0	0	0	0	0	0	0	1,289	1,616	1,851	—
Operating Profit	-44	-251	-382	-579	-742	-788	-976	997	1,007	56	—
	4	0	-1	0	19	0	-99	338	979	1,563	—
Profit before Tax	7	-95	150	249	151	80	536	659	28	-1,507	-1,642
Tax %	0	0	0	0	0	0	0	25	14	24	24
Net Profit	5	-63	94	187	112	61	405	498	24	-1,151	-1,251
EPS	0	-2	1	2	1	1	5	5	0	-6	—
NIM %	—	—	—	—	—	—	—	—	—	—	—
Cost-to-Income %	—	—	—	—	—	—	—	—	—	—	—
Credit Cost %	—	—	—	—	—	—	—	—	—	—	—
NIM %	—	—	—	—	—	—	—	—	—	—	—
Cost-to-Income %	—	—	—	—	—	—	—	—	—	—	—
Credit Cost %	—	—	—	—	—	—	—	—	—	—	—

Mar 2017

: 0
Interest Expended: 44
Net Interest Income: -44
: 3
Total Income: 0
: 0
Operating Profit: -44
: 4
Profit before Tax: 7
Tax %: 0
Net Profit: 5
EPS: 0
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2018

: 0
Interest Expended: 251
Net Interest Income: -251
: 44
Total Income: 0
: 0
Operating Profit: -251
: 0
Profit before Tax: -95
Tax %: 0
Net Profit: -63
EPS: -2
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2019

: 0
Interest Expended: 382
Net Interest Income: -382
: 58
Total Income: 0
: 0
Operating Profit: -382
: -1
Profit before Tax: 150
Tax %: 0
Net Profit: 94
EPS: 1
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2020

: 0
Interest Expended: 579
Net Interest Income: -579
: 99
Total Income: 0
: 0
Operating Profit: -579
: 0
Profit before Tax: 249
Tax %: 0
Net Profit: 187
EPS: 2
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2021

: 0
Interest Expended: 742
Net Interest Income: -742
: 144
Total Income: 0
: 0
Operating Profit: -742
: 19
Profit before Tax: 151
Tax %: 0
Net Profit: 112
EPS: 1
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2022

: 0
Interest Expended: 788
Net Interest Income: -788
: 185
Total Income: 0
: 0
Operating Profit: -788
: 0
Profit before Tax: 80
Tax %: 0
Net Profit: 61
EPS: 1
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2023

: 0
Interest Expended: 976
Net Interest Income: -976
: 299
Total Income: 0
: 0
Operating Profit: -976
: -99
Profit before Tax: 536
Tax %: 0
Net Profit: 405
EPS: 5
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2024

: 3,178
Interest Expended: 1,293
Net Interest Income: 1,886
: 400
Total Income: 3,579
: 1,289
Operating Profit: 997
: 338
Profit before Tax: 659
Tax %: 25
Net Profit: 498
EPS: 5
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2025

: 3,765
Interest Expended: 1,742
Net Interest Income: 2,023
: 600
Total Income: 4,365
: 1,616
Operating Profit: 1,007
: 979
Profit before Tax: 28
Tax %: 14
Net Profit: 24
EPS: 0
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

Mar 2026

: 3,379
Interest Expended: 1,902
Net Interest Income: 1,477
: 431
Total Income: 3,810
: 1,851
Operating Profit: 56
: 1,563
Profit before Tax: -1,507
Tax %: 24
Net Profit: -1,151
EPS: -6
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

TTM

: —
Interest Expended: 6,038
Net Interest Income: —
: 1,481
Total Income: 10,024
: —
Operating Profit: —
: —
Profit before Tax: -1,642
Tax %: 24
Net Profit: -1,251
EPS: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —
NIM %: —
Cost-to-Income %: —
Credit Cost %: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 16%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -30%
1 Year:: -23%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 1%
3 Years:: -7%
Last Year:: -41%

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	300	470	737	759	848	896	896	1,099	1,102	1,780
	5	-58	36	260	520	670	1,086	1,852	1,829	941
	19	2,194	3,791	5,235	7,508	10,074	13,710	17,473	21,566	21,654
	2,289	1,789	1,430	2,675	2,608	2,572	2,349	1,995	2,355	2,829
Other Liabilities & Provisions	63	129	245	475	654	845	1,057	1,462	1,232	1,610
Total Liabilities	2,675	4,524	6,239	9,404	12,138	15,064	19,117	2	3	3
ASSETS	-	-	-	-	-	-	-	-	-	-
	42	206	158	192	275	1,798	1,192	1,247	2,638	1,692
Balances with Banks & Money at Call	150	363	359	1,422	895	74	1,324	1,781	798	629
	729	661	862	1,192	2,314	2,348	2,859	3,679	4,958	6,914
	1,594	3,102	4,668	6,282	8,217	10,228	13,069	16,365	18,716	18,070
	16	87	87	110	125	286	301	301	324	333
	139	105	102	185	256	330	369	519	630	1,106
Total Assets	2,675	4,524	6,239	9,404	12,138	15,064	19,117	2	3	3
CASA Deposits	1	67	293	588	1,167	1,891	2,480	3,025	4,055	4,400
CASA Ratio (%)	2.97	3.03	7.73	11.22	15.55	18.77	18.09	17.32	18.80	20.32
Credit-Deposit Ratio (%)	8513.42	141.38	123.13	119.99	109.45	101.53	95.32	93.66	86.79	83.45
Contingent Liabilities	41	128	18	20	62	56	63	77	89	77
Bills for Collection	0	0	0	0	0	0	0	0	0	0
Book Value per Share	10.16	8.76	10.48	13.43	16.13	17.49	22.13	26.85	26.60	15.29
CASA Deposits	1	67	293	588	1,167	1,891	2,480	3,025	4,055	4,400
CASA Ratio (%)	2.97	3.03	7.73	11.22	15.55	18.77	18.09	17.32	18.80	20.32
Credit-Deposit Ratio (%)	8513.42	141.38	123.13	119.99	109.45	101.53	95.32	93.66	86.79	83.45
Contingent Liabilities	41	128	18	20	62	56	63	77	89	77
Bills for Collection	0	0	0	0	0	0	0	0	0	0
Book Value per Share	10.16	8.76	10.48	13.43	16.13	17.49	22.13	26.85	26.60	15.29

Mar 2017

Equity Capital: 300
: 5
: 19
: 2,289
Other Liabilities & Provisions: 63
Total Liabilities: 2,675
: 42
Balances with Banks & Money at Call: 150
: 729
: 1,594
: 16
: 139
Total Assets: 2,675
CASA Deposits: 1
CASA Ratio (%): 2.97
Credit-Deposit Ratio (%): 8513.42
Contingent Liabilities: 41
Bills for Collection: 0
Book Value per Share: 10.16
CASA Deposits: 1
CASA Ratio (%): 2.97
Credit-Deposit Ratio (%): 8513.42
Contingent Liabilities: 41
Bills for Collection: 0
Book Value per Share: 10.16

Mar 2018

Equity Capital: 470
: -58
: 2,194
: 1,789
Other Liabilities & Provisions: 129
Total Liabilities: 4,524
: 206
Balances with Banks & Money at Call: 363
: 661
: 3,102
: 87
: 105
Total Assets: 4,524
CASA Deposits: 67
CASA Ratio (%): 3.03
Credit-Deposit Ratio (%): 141.38
Contingent Liabilities: 128
Bills for Collection: 0
Book Value per Share: 8.76
CASA Deposits: 67
CASA Ratio (%): 3.03
Credit-Deposit Ratio (%): 141.38
Contingent Liabilities: 128
Bills for Collection: 0
Book Value per Share: 8.76

Mar 2019

Equity Capital: 737
: 36
: 3,791
: 1,430
Other Liabilities & Provisions: 245
Total Liabilities: 6,239
: 158
Balances with Banks & Money at Call: 359
: 862
: 4,668
: 87
: 102
Total Assets: 6,239
CASA Deposits: 293
CASA Ratio (%): 7.73
Credit-Deposit Ratio (%): 123.13
Contingent Liabilities: 18
Bills for Collection: 0
Book Value per Share: 10.48
CASA Deposits: 293
CASA Ratio (%): 7.73
Credit-Deposit Ratio (%): 123.13
Contingent Liabilities: 18
Bills for Collection: 0
Book Value per Share: 10.48

Mar 2020

Equity Capital: 759
: 260
: 5,235
: 2,675
Other Liabilities & Provisions: 475
Total Liabilities: 9,404
: 192
Balances with Banks & Money at Call: 1,422
: 1,192
: 6,282
: 110
: 185
Total Assets: 9,404
CASA Deposits: 588
CASA Ratio (%): 11.22
Credit-Deposit Ratio (%): 119.99
Contingent Liabilities: 20
Bills for Collection: 0
Book Value per Share: 13.43
CASA Deposits: 588
CASA Ratio (%): 11.22
Credit-Deposit Ratio (%): 119.99
Contingent Liabilities: 20
Bills for Collection: 0
Book Value per Share: 13.43

Mar 2021

Equity Capital: 848
: 520
: 7,508
: 2,608
Other Liabilities & Provisions: 654
Total Liabilities: 12,138
: 275
Balances with Banks & Money at Call: 895
: 2,314
: 8,217
: 125
: 256
Total Assets: 12,138
CASA Deposits: 1,167
CASA Ratio (%): 15.55
Credit-Deposit Ratio (%): 109.45
Contingent Liabilities: 62
Bills for Collection: 0
Book Value per Share: 16.13
CASA Deposits: 1,167
CASA Ratio (%): 15.55
Credit-Deposit Ratio (%): 109.45
Contingent Liabilities: 62
Bills for Collection: 0
Book Value per Share: 16.13

Mar 2022

Equity Capital: 896
: 670
: 10,074
: 2,572
Other Liabilities & Provisions: 845
Total Liabilities: 15,064
: 1,798
Balances with Banks & Money at Call: 74
: 2,348
: 10,228
: 286
: 330
Total Assets: 15,064
CASA Deposits: 1,891
CASA Ratio (%): 18.77
Credit-Deposit Ratio (%): 101.53
Contingent Liabilities: 56
Bills for Collection: 0
Book Value per Share: 17.49
CASA Deposits: 1,891
CASA Ratio (%): 18.77
Credit-Deposit Ratio (%): 101.53
Contingent Liabilities: 56
Bills for Collection: 0
Book Value per Share: 17.49

Mar 2023

Equity Capital: 896
: 1,086
: 13,710
: 2,349
Other Liabilities & Provisions: 1,057
Total Liabilities: 19,117
: 1,192
Balances with Banks & Money at Call: 1,324
: 2,859
: 13,069
: 301
: 369
Total Assets: 19,117
CASA Deposits: 2,480
CASA Ratio (%): 18.09
Credit-Deposit Ratio (%): 95.32
Contingent Liabilities: 63
Bills for Collection: 0
Book Value per Share: 22.13
CASA Deposits: 2,480
CASA Ratio (%): 18.09
Credit-Deposit Ratio (%): 95.32
Contingent Liabilities: 63
Bills for Collection: 0
Book Value per Share: 22.13

Mar 2024

Equity Capital: 1,099
: 1,852
: 17,473
: 1,995
Other Liabilities & Provisions: 1,462
Total Liabilities: 2
: 1,247
Balances with Banks & Money at Call: 1,781
: 3,679
: 16,365
: 301
: 519
Total Assets: 2
CASA Deposits: 3,025
CASA Ratio (%): 17.32
Credit-Deposit Ratio (%): 93.66
Contingent Liabilities: 77
Bills for Collection: 0
Book Value per Share: 26.85
CASA Deposits: 3,025
CASA Ratio (%): 17.32
Credit-Deposit Ratio (%): 93.66
Contingent Liabilities: 77
Bills for Collection: 0
Book Value per Share: 26.85

Mar 2025

Equity Capital: 1,102
: 1,829
: 21,566
: 2,355
Other Liabilities & Provisions: 1,232
Total Liabilities: 3
: 2,638
Balances with Banks & Money at Call: 798
: 4,958
: 18,716
: 324
: 630
Total Assets: 3
CASA Deposits: 4,055
CASA Ratio (%): 18.80
Credit-Deposit Ratio (%): 86.79
Contingent Liabilities: 89
Bills for Collection: 0
Book Value per Share: 26.60
CASA Deposits: 4,055
CASA Ratio (%): 18.80
Credit-Deposit Ratio (%): 86.79
Contingent Liabilities: 89
Bills for Collection: 0
Book Value per Share: 26.60

Mar 2026

Equity Capital: 1,780
: 941
: 21,654
: 2,829
Other Liabilities & Provisions: 1,610
Total Liabilities: 3
: 1,692
Balances with Banks & Money at Call: 629
: 6,914
: 18,070
: 333
: 1,106
Total Assets: 3
CASA Deposits: 4,400
CASA Ratio (%): 20.32
Credit-Deposit Ratio (%): 83.45
Contingent Liabilities: 77
Bills for Collection: 0
Book Value per Share: 15.29
CASA Deposits: 4,400
CASA Ratio (%): 20.32
Credit-Deposit Ratio (%): 83.45
Contingent Liabilities: 77
Bills for Collection: 0
Book Value per Share: 15.29

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
	15	905	218	115	-83	1,329	1,573	991	876	781
Cash from Investing	-471	-199	-176	-322	-532	-739	-693	-620	-777	-3,309
Cash from Financing	514	-330	-94	1,304	172	111	-235	140	310	1,412
	59	377	-52	1,097	-444	702	645	511	409	-1,115

Mar 2017

: 15
Cash from Investing: -471
Cash from Financing: 514
: 59

Mar 2018

: 905
Cash from Investing: -199
Cash from Financing: -330
: 377

Mar 2019

: 218
Cash from Investing: -176
Cash from Financing: -94
: -52

Mar 2020

: 115
Cash from Investing: -322
Cash from Financing: 1,304
: 1,097

Mar 2021

: -83
Cash from Investing: -532
Cash from Financing: 172
: -444

Mar 2022

: 1,329
Cash from Investing: -739
Cash from Financing: 111
: 702

Mar 2023

: 1,573
Cash from Investing: -693
Cash from Financing: -235
: 645

Mar 2024

: 991
Cash from Investing: -620
Cash from Financing: 140
: 511

Mar 2025

: 876
Cash from Investing: -777
Cash from Financing: 310
: 409

Mar 2026

: 781
Cash from Investing: -3,309
Cash from Financing: 1,412
: -1,115

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 (₹)	0.16	-1.34	1.27	2.46	1.32	0.69	4.51	4.53	0.22	-6.47
Book Value (₹)	10.16	8.76	10.48	13.43	16.13	17.49	22.13	26.85	26.60	15.29
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Net Interest Margin %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.17%	7.46%	5.41%
ROA %	0.18%	-1.75%	1.74%	2.39%	1.04%	0.45%	2.37%	2.31%	0.09%	-4.04%
ROE %	1.59%	-17.58%	15.85%	20.84%	9.37%	4.19%	22.80%	20.17%	0.81%	-40.73%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	56.38%	61.61%	97.05%
ASSET QUALITY	-	-	-	-	-	-	-	-	-	-
Gross NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.42%
Net NPA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.00%
Provision Coverage %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	59.20%
Slippage Ratio %	—	—	—	—	—	—	—	—	—	—
BALANCE SHEET & LIQUIDITY	-	-	-	-	-	-	-	-	-	-
CASA %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.50%	21.79%	24.00%
Credit-Deposit Ratio %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.11%	0.13%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	22.57%	20.93%	17.71%
GROWTH & VALUATION	-	-	-	-	-	-	-	-	-	-
Net Profit Growth %	0.00%	-1403.40%	248.99%	98.90%	-40.12%	-45.03%	558.13%	23.02%	-95.24%	-4956.35%
Book Value Growth %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.33%	-0.90%	-42.53%
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	10.35x	86.92x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.75x	0.83x	0.67x
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.07%	0.00%	0.00%

Mar 2017

EPS (₹): 0.16
Book Value (₹): 10.16
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.18%
ROE %: 1.59%
: 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 (₹): -1.34
Book Value (₹): 8.76
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: -1.75%
ROE %: -17.58%
: 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 %: -1403.40%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2019

EPS (₹): 1.27
Book Value (₹): 10.48
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 1.74%
ROE %: 15.85%
: 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 %: 248.99%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2020

EPS (₹): 2.46
Book Value (₹): 13.43
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 2.39%
ROE %: 20.84%
: 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 %: 98.90%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2021

EPS (₹): 1.32
Book Value (₹): 16.13
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 1.04%
ROE %: 9.37%
: 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 %: -40.12%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2022

EPS (₹): 0.69
Book Value (₹): 17.49
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 0.45%
ROE %: 4.19%
: 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 %: -45.03%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2023

EPS (₹): 4.51
Book Value (₹): 22.13
Dividend per Share (₹): 0.00
Net Interest Margin %: 0.00%
ROA %: 2.37%
ROE %: 22.80%
: 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 %: 558.13%
Book Value Growth %: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
: 0.00%

Mar 2024

EPS (₹): 4.53
Book Value (₹): 26.85
Dividend per Share (₹): 0.50
Net Interest Margin %: 8.17%
ROA %: 2.31%
ROE %: 20.17%
: 56.38%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 20.50%
Credit-Deposit Ratio %: 0.11%
: 22.57%
Net Profit Growth %: 23.02%
Book Value Growth %: 21.33%
P/E (x): 10.35x
P/B (x): 1.75x
: 1.07%

Mar 2025

EPS (₹): 0.22
Book Value (₹): 26.60
Dividend per Share (₹): 0.00
Net Interest Margin %: 7.46%
ROA %: 0.09%
ROE %: 0.81%
: 61.61%
Gross NPA %: 0.00%
Net NPA %: 0.00%
Provision Coverage %: 0.00%
Slippage Ratio %: —
CASA %: 21.79%
Credit-Deposit Ratio %: 0.11%
: 20.93%
Net Profit Growth %: -95.24%
Book Value Growth %: -0.90%
P/E (x): 86.92x
P/B (x): 0.83x
: 0.00%

Mar 2026

EPS (₹): -6.47
Book Value (₹): 15.29
Dividend per Share (₹): 0.00
Net Interest Margin %: 5.41%
ROA %: -4.04%
ROE %: -40.73%
: 97.05%
Gross NPA %: 11.42%
Net NPA %: 5.00%
Provision Coverage %: 59.20%
Slippage Ratio %: —
CASA %: 24.00%
Credit-Deposit Ratio %: 0.13%
: 17.71%
Net Profit Growth %: -4956.35%
Book Value Growth %: -42.53%
P/E (x): 0.00x
P/B (x): 0.67x
: 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
69.02	68.94	68.93	68.92	68.92	68.92	42.67	42.67	42.67
0.95	0.99	1.33	0.99	1.85	1.68	11.80	11.49	11.90
10.60	10.01	8.23	7.04	2.78	2.39	9.73	9.56	9.54
0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.00
19.43	20.05	21.50	23.05	26.43	27.00	35.78	36.28	35.88

Jun 2024

: 69.02
: 0.95
: 10.60
: 0.01
: 19.43

Sep 2024

: 68.94
: 0.99
: 10.01
: 0.01
: 20.05

Dec 2024

: 68.93
: 1.33
: 8.23
: 0.01
: 21.50

Mar 2025

: 68.92
: 0.99
: 7.04
: 0.01
: 23.05

Jun 2025

: 68.92
: 1.85
: 2.78
: 0.01
: 26.43

Sep 2025

: 68.92
: 1.68
: 2.39
: 0.01
: 27.00

Dec 2025

: 42.67
: 11.80
: 9.73
: 0.01
: 35.78

Mar 2026

: 42.67
: 11.49
: 9.56
: 0.00
: 36.28

Jun 2026

: 42.67
: 11.90
: 9.54
: 0.00
: 35.88

Documents

Announcements

General Updates
2026-08-19 - Utkarsh Small Finance Bank Limited has informed the Exchange about Migration of Core Banking System.
General Updates
2026-08-17 - Utkarsh Small Finance Bank Limited has informed the Exchange about ESG Rating.

Annual Reports

Credit Ratings

Credit Rating
2026-07-14 - Utkarsh Small Finance Bank Limited has informed the Exchange about Credit Rating
Credit Rating
2026-07-02 - Utkarsh Small Finance Bank Limited has informed the Exchange about Credit Rating

Concalls

Aug 2026
Transcript PPTREC
May 2026
Transcript PPTREC
Feb 2026
Transcript PPTREC