Utkarsh Small Finance Bank Ltd

Utkarsh Small F. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Utkarsh Small Finance Bank Ltd

₹ 11.7 2.45%
02 Apr - close price
utkarsh.bank BSE: 543942 NSE: UTKARSHBNK
About

Incorporated in 2016, Utkarsh Small Finance Bank is engaged in providing banking and financial services.[1]

Key Points

Business Profile[1]
Utkarsh Small Finance Bank (USFB) has evolved from a microfinance institution to a small finance bank. It has a significant presence in rural and semi-urban areas, focusing on financial inclusion

Website BSE NSE
  • Market Cap ₹ 2,086 Cr.
  • Current Price ₹ 11.7
  • High / Low ₹ 23.8 / 10.1
  • Stock P/E
  • Book Value ₹ 13.2
  • Dividend Yield 0.00 %
  • ROCE 7.17 %
  • ROE 0.79 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.89 times its book value
  • Company's working capital requirements have reduced from 70.0 days to 15.2 days

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -26.2%
  • Company has a low return on equity of 12.8% over last 3 years.
  • Earnings include an other income of Rs.603 Cr.
  • Dividend payout has been low at 3.68% of profits over last 3 years

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Part of BSE Allcap BSE Financial Services

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Quarterly Results

Figures in Rs. Crores

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
641 691 720 756 806 896 966 987 932 880 881 840 821
Interest 247 282 298 315 324 356 393 429 452 468 479 490 473
342 305 369 392 413 452 492 593 824 687 858 913 920
Financing Profit 51 105 53 49 69 88 82 -35 -343 -276 -457 -562 -571
Financing Margin % 8% 15% 7% 7% 9% 10% 8% -4% -37% -31% -52% -67% -70%
71 69 92 105 83 121 105 103 105 287 138 97 81
Depreciation -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
Profit before tax 122 174 145 154 152 208 186 68 -238 11 -319 -465 -491
Tax % 24% 23% 26% 26% 24% 23% 26% 24% -29% 74% -25% -25% -24%
94 134 108 114 116 160 137 51 -168 3 -239 -348 -375
EPS in Rs 0.65 0.92 0.74 0.65 0.65 0.90 0.77 0.29 -0.94 0.02 -1.35 -1.96 -2.11
Gross NPA % 3.58% 3.23% 3.13% 2.81% 3.04% 2.51% 2.78% 3.88% 6.17% 9.43% 11.42% 12.42% 11.05%
Net NPA % 0.72% 0.39% 0.33% 0.16% 0.19% 0.03% 0.26% 0.89% 2.50% 4.84% 5.00% 5.02% 4.48%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
519 881 1,308 1,581 1,849 2,505 3,178 3,765 3,422
Interest 251 382 579 742 788 976 1,293 1,742 1,910
374 392 551 783 1,125 1,234 1,561 2,518 3,378
Financing Profit -106 107 177 56 -64 295 324 -496 -1,866
Financing Margin % -20% 12% 14% 4% -3% 12% 10% -13% -55%
43 58 99 125 185 299 400 600 603
Depreciation -0 16 25 30 41 59 65 77 0
Profit before tax -63 149 250 151 80 536 659 28 -1,263
Tax % -0% 37% 25% 26% 23% 25% 25% 14%
-63 94 187 112 61 404 498 24 -960
EPS in Rs -0.83 0.79 1.52 0.82 0.42 2.80 2.80 0.13 -5.40
Dividend Payout % -0% -0% -0% -0% -0% -0% 11% -0%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 27%
TTM: -10%
Compounded Profit Growth
10 Years: %
5 Years: -34%
3 Years: -27%
TTM: -632%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -41%
Return on Equity
10 Years: %
5 Years: 11%
3 Years: 13%
Last Year: 1%

Balance Sheet

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 470 737 759 848 896 896 1,099 1,102 1,102
Reserves -58 36 260 520 677 1,104 1,874 1,873 1,244
Deposits 2,194 3,941 5,235 7,508 10,074 13,710 17,473 21,566 21,447
Borrowing 1,789 1,280 2,675 2,608 2,572 2,349 1,995 2,355 1,958
129 245 475 654 845 1,057 1,462 1,232 1,633
Total Liabilities 4,524 6,239 9,404 12,138 15,064 19,117 23,903 28,127 27,384
87 87 110 125 286 301 301 324 417
CWIP -0 3 22 56 1 2 10 63 -0
Investments 661 862 1,192 2,314 2,348 2,859 3,679 4,958 5,351
3,775 5,287 8,081 9,643 12,429 15,955 19,912 22,783 21,617
Total Assets 4,524 6,239 9,404 12,138 15,064 19,117 23,903 28,127 27,384

Cash Flows

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
211 115 -83 1,329 1,573 991 876
-171 -322 -532 -739 -693 -620 -777
-92 1,304 172 111 -235 140 310
Net Cash Flow -52 1,097 -444 702 645 511 409
Free Cash Flow 194 70 -163 1,183 1,498 921 718
CFO/OP 44% 27% 2% 191% 129% 65% 61%

Ratios

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
ROE % -15% 16% 21% 9% 4% 23% 20% 1%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Joint Liability Group (JLG) share in portfolio
%

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Secured Loans in Gross Loan Portfolio
%
Number of Banking Outlets
Units
Number of Employees
Units
Total Customers
Million

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
69.28% 69.16% 69.06% 69.02% 68.94% 68.93% 68.92% 68.92% 68.92% 42.67%
2.07% 0.74% 0.87% 0.94% 0.99% 1.33% 1.00% 1.85% 1.68% 11.80%
12.99% 11.30% 9.82% 10.60% 10.01% 8.23% 7.04% 2.78% 2.39% 9.74%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.03%
15.67% 18.80% 20.25% 19.43% 20.04% 21.50% 23.04% 26.43% 27.00% 35.76%
No. of Shareholders 1,63,6141,92,7912,22,0442,15,1332,27,8862,40,5922,43,6132,48,3112,49,3722,76,742

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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