ESAF Small Finance Bank
- Market cap
- ₹ 2,006 Cr.
- P/E
- 21.7x
- P/B
- 1.18x
- 52-week range
- 19.78 – 46
- ROE
- −9%
- Dividend yield
- 0%
- Debt / equity
- 1.55
- Sector
- Banks
- Industry
- Other Bank
- Listed on
- NSE, BSE
About
ESAF Small Finance Bank Limited (the Bank) is a small finance bank with a focus on unbanked and underbanked customer segments, especially in urban, semi-urban, rural and rural unbanked areas. The Bank provides micro, retail, and corporate banking, para-banking activities such as debit cards, third-party financial product distribution, in addition to treasury and permitted foreign exchange business. The Company's segments include treasury, wholesale banking, retail banking, and other banking operations. The treasury segment primarily consists of interest earnings on its investment portfolio, gains or losses on investment operations, and earnings from its foreign exchange business. The wholesale banking segment provides loans to the corporate segment. The retail banking segment provides loans to non-corporate customers. The other banking operations segment includes para-banking activities, such as debit cards, third-party product distribution, and associated costs.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Bank: 9 companies →ESAF Small Finance Bank against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)21.7 against a typical 14.7: pricier than most peers (1st = cheapest).7th of 9
- Sales growth+32.6% against a typical +22.6% from a year earlier.1st of 9
- Share price, 3 months+3.6% against a typical −18.6%.1st of 9
- Size₹ 2,005.5 Cr. market value against a typical ₹ 2,133.4 Cr. (1st = largest).6th of 9
Latest announcements
Exchange filings and their impact on the company.
- ESAF Bank completed its Oracle FLEXCUBE CBS migration and restored services, de-risking tech and aiding efficiency.
ESAF Small Finance Bank said on October 26, 2026 it has successfully migrated from its old Core Banking System to Oracle FLEXCUBE, along with upgraded business applications and data centre. The bank said the move is a key digital-transformation milestone to improve efficiency, resilience, scalability and compliance, and that customer banking services have been restored after migration. It will continue to monitor stability of the new system to ensure seamless service.
- ESAF Bank to migrate to Oracle FLEXCUBE over Oct 23-26 with brief service pause, boosting long-term digital capability.
ESAF Small Finance Bank will migrate to Oracle FLEXCUBE as its new core banking system along with business and allied applications. The migration is scheduled from 6 PM on October 23, 2026 to 10 AM on October 26, 2026, during which ATM, mobile and internet banking, debit cards, UPI and agency banking will be temporarily unavailable. The upgrade is aimed at improving efficiency, resilience, scalability and compliance and enabling faster launch of new products.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A- by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE A- | Stable | 1 Sep 2026 |
| Brickwork | BWR A - | Stable | 17 Aug 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 1 Sep 2026 | ▲ Outlook raised | CARE A- Outlook Negative → Stable | — | CARE | ₹ 1,210 Cr. | |
| 17 Aug 2026 | ▲ Upgrade | BWR A - | — | Brickwork | ₹ 20 Cr. | |
| 2 Sep 2025 | Withdrawn | was CARE A- | — | CARE | ₹ 1,445 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the Quarter and Half Year ended September 30, 2026 |
| 23 Sep 2026 | Fund Raising | Intimation of Board meeting to consider and approve the proposal to raise funds by way of issuance of Non-Convertible Debentures (Tier II Bonds) on Preferential basis through Private Placement |
| 31 Jul 2026 | Financial Results | Intimation of Board Meeting to consider and approve the Unaudited Standalone Financial Results for the Quarter ended Jun 30, 2026 |
| 30 Apr 2026 | Financial Results | To consider and approve the Audited Standalone Financial Results of the Bank for the Quarter and Financial Year ended March 31, 2026. |
| 30 Jan 2026 | Financial Results | Intimation of meeting of Board of Directors to consider and approve the financial results for the quarter ended December 31, 2025. |
| 11 Nov 2025 | Financial Results | Intimation of Board meeting to consider and approve the Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2025 |
| 3 Nov 2025 | Fund Raising | Intimation of Board Meeting to consider the proposal to raise funds by way of issuance of Non-Convertible Debentures (Tier II Bonds) on Preferential basis through Private Placement in compliance with applicable provisions of the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | 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 | 943 | 974 | 1,002 | 1,022 | 995 | 948 | 892 | 828 | 820 | 894 | 995 | 1,098 |
| Interest | 347 | 377 | 411 | 434 | 456 | 463 | 458 | 450 | 448 | 462 | 477 | 514 |
| Expenses | 487 | 567 | 682 | 619 | 834 | 881 | 820 | 682 | 672 | 693 | 692 | 725 |
| Financing Profit | 109 | 30 | −91 | −30 | −294 | −396 | −386 | −304 | −301 | −260 | −174 | −141 |
| Financing Margin % | 12% | 3% | −9% | −3% | −30% | −42% | −43% | −37% | −37% | −29% | −18% | −13% |
| Other Income | 79 | 120 | 150 | 115 | 40 | 114 | 145 | 195 | 145 | 269 | 201 | 248 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 188 | 150 | 59 | 85 | −255 | −282 | −241 | −109 | −155 | 9 | 27 | 107 |
| Tax % | 26% | 25% | 26% | 26% | −25% | −25% | −24% | −26% | −25% | 22% | 13% | 25% |
| Net Profit | 140 | 112 | 43 | 63 | −190 | −211 | −183 | −81 | −116 | 7 | 24 | 80 |
| EPS in Rs | 3.12 | 2.18 | 0.84 | 1.22 | −3.69 | −4.09 | −3.55 | −1.58 | −2.25 | 0.14 | 0.46 | 1.55 |
| Gross NPA % | 2.6% | 4.2% | 4.8% | 6.6% | 7% | 7% | 6.9% | 7.5% | 8.5% | 5.6% | 5.4% | 5.4% |
| Net NPA % | 1.2% | 2.2% | 2.3% | 3.2% | 3% | 3% | 3% | 3.8% | 3.8% | 2.7% | 1.8% | 0.8% |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 17%
- 3 Years
- 7%
- TTM
- 4%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- 99%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- 4%
- 5 Years
- 1%
- 3 Years
- −4%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| ESAF Small Finance Bank | ₹ 41.03 | ₹ 2,006 Cr. | 21.7x | 1.2x | −9% | — |
| HDFC Bank | ₹ 692.10 | ₹ 10,66,990 Cr. | 16.5x | 2.2x | 13.7% | 25.6% |
| ICICI Bank | ₹ 1,395.00 | ₹ 10,01,336 Cr. | 19.3x | 2.9x | 16% | 25.9% |
| State Bank of India | ₹ 957.00 | ₹ 8,83,384 Cr. | 11.8x | 1.6x | 15.4% | 21.4% |
| Kotak Mahindra Bank | ₹ 430.10 | ₹ 4,27,849 Cr. | 20.2x | 2.1x | 11.4% | 24.5% |
| Union Bank of India | ₹ 178.50 | ₹ 1,36,260 Cr. | 6.6x | 1x | 15.8% | 33.2% |
Management
- Gireesh Chandrathil Parameswaran Nair
- Chief Financial Officer
- Paul Thomas Kadambelil
- Managing Director
- George Kalaparambil John
- Whole-Time Director
- Ranjith Raj Parameswaran Nambisan
- Company Secretary
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