Utkarsh Small Finance Bank
- Market cap
- ₹ 2,133 Cr.
- P/E
- 20.8x
- P/B
- 0.78x
- 52-week range
- 10.12 – 21.08
- ROE
- −40%
- Dividend yield
- 0%
- Debt / equity
- 1.02
- Sector
- Banks
- Industry
- Other Bank
- Listed on
- NSE, BSE
About
Utkarsh Small Finance Bank Limited (the Bank) is an India-based small finance bank. The Bank is engaged in providing banking and financial services with a focus on providing microfinance to the underserved and unserved sections of the country. Its lending activities are primarily focused on rural and semi-urban locations of the country, while its other services are spread across the country. Its segments include Corporate/Wholesale Banking, Retail Banking, Treasury, and Other Banking Operations. The Corporate/Wholesale Banking segment includes lending, deposits, and other banking services provided to corporate customers of the Bank. The Retail Banking segment includes lending, deposits, and other banking services provided to retail customers of the Bank through a branch network. The Treasury segment includes dealings in statutory liquidity ratio (SLR) and non-SLR investments, maintenance of reserve requirements, and resource mobilization from other banks and financial institutions.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Bank: 9 companies →Utkarsh 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)20.8 against a typical 14.7: pricier than most peers (1st = cheapest).6th of 9
- Sales growth+0.3% against a typical +22.6% from a year earlier.9th of 9
- Share price, 3 months−18.5% against a typical −18.5%.5th of 9
- Size₹ 2,133.4 Cr. market value against a typical ₹ 2,133.4 Cr. (1st = largest).5th of 9
Latest announcements
Exchange filings and their impact on the company.
- Strong non-JLG growth and sharp asset-quality improvement point to faster income growth and much lower losses.
Utkarsh Small Finance Bank reported provisional Q2 FY27 business numbers with total disbursements of Rs 3,525 crore, up 55% from last year, and gross loans of Rs 20,063 crore, up 7.5%. Growth was led by non-JLG loans up 35% while the JLG share fell to 26% from 41% and secured loans rose to 52%. Deposits grew 6.6% to Rs 23,869 crore with CASA ratio improving to 21.5%, collection efficiency at 99.53% and stressed SMA loans down sharply to 1.48% from 4.87% last year, indicating improving asset quality.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Look closer
Rated A- by 2 agencies- CARE lowered its rating on 14 Jul 2026.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE A- | Stable | 4 Sep 2026 |
| ICRA | [ICRA]A- | Stable | 2 Jul 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 4 Sep 2026 | New rating | CARE A- | — | CARE | ₹ 500 Cr. | |
| 14 Jul 2026 | ▼ Downgrade1 notch | CARE A → CARE A- | — | CARE | ₹ 305 Cr. | |
| 2 Jul 2026 | ▼ Downgrade1 notch | [ICRA]A → [ICRA]A- | — | ICRA | ₹ 1,400 Cr. | |
| 5 Jan 2026 | Withdrawn | was CARE A | — | CARE | ₹ 305 Cr. | |
| 13 Aug 2025 | ▼ Downgrade | CARE A | — | CARE | ₹ 215 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 1 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 20 Jun 2026 | Fund Raising | To consider the proposal for raising fund by way of issuance of Unsecured, Subordinated, Redeemable, Tier II bonds in the form of Non-Convertible Debentures (part of additional Tier II Capital) aggregating up to Rs. 500 crore on a private placement basis, in one or more tranches, during FY 2026-27, subject to such regulatory/statutory approvals and any other approvals as may be necessary. |
| 9 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 2 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 14 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 8 Oct 2025 | Other business matters | To consider and decide the terms and conditions of the Rights Issue, including but not limited to thedetermination of the Rights Issue price, Rights Entitlement ratio, record date, terms ofpayment and other related matters. |
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 | 756 | 806 | 896 | 966 | 987 | 932 | 880 | 881 | 840 | 821 | 837 | 884 |
| Interest | 315 | 324 | 356 | 393 | 429 | 452 | 468 | 479 | 490 | 473 | 461 | 461 |
| Expenses | 392 | 413 | 452 | 492 | 593 | 824 | 687 | 858 | 913 | 920 | 724 | 586 |
| Financing Profit | 49 | 69 | 88 | 82 | −35 | −343 | −276 | −457 | −562 | −571 | −347 | −164 |
| Financing Margin % | 7% | 9% | 10% | 8% | −4% | −37% | −31% | −52% | −67% | −70% | −42% | −19% |
| Other Income | 105 | 83 | 121 | 105 | 103 | 105 | 287 | 138 | 97 | 81 | 115 | 119 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 154 | 152 | 208 | 186 | 68 | −238 | 11 | −319 | −465 | −491 | −232 | −45 |
| Tax % | 26% | 24% | 23% | 26% | 24% | −29% | 74% | −25% | −25% | −24% | −19% | −25% |
| Net Profit | 114 | 116 | 160 | 137 | 51 | −168 | 3 | −239 | −348 | −375 | −188 | −34 |
| EPS in Rs | 0.65 | 0.65 | 0.9 | 0.77 | 0.29 | −0.94 | 0.02 | −1.35 | −1.96 | −2.11 | −1.06 | −0.19 |
| Gross NPA % | 2.8% | 3% | 2.5% | 2.8% | 3.9% | 6.2% | 9.4% | 11.4% | 12.4% | 11.1% | 7.7% | 6.1% |
| Net NPA % | 0.2% | 0.2% | 0% | 0.3% | 0.9% | 2.5% | 4.8% | 5% | 5% | 4.5% | 3.3% | 2.9% |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 16%
- 3 Years
- 10%
- TTM
- −8%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- −168%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- −29%
- TTM
- —
- 10 Years
- —
- 5 Years
- −1%
- 3 Years
- −8%
- 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.
| Utkarsh Small Finance Bank | ₹ 11.78 | ₹ 2,133 Cr. | 20.8x | 0.8x | −40% | — |
| 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
- Govind Singh
- Managing Director and Chief Executive Officer, Executive Director
- Ritesh Kumar
- Chief Compliance Officer
- Pramod Kumar Dubey
- Whole-Time Director
- Sarjukumar Pravin Simaria
- Whole-Time Director
- Muthiah Ganapathy
- Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.