Equitas Small Finance Bank Ltd

Equitas Small Finance Bank Ltd

₹ 102 0.62%
18 Jun 4:10 p.m.
About

Equitas Small Finance Bank Ltd before acquiring small bank license, operated as a wholly-owned subsidiary of Equitas Holding Ltd. The holding entity started its operations in 2007 in the microfinance segment & diversified into vehicle & housing finance in 2011. Also entered into SME & LAP in 2013. It merged with the other two subsidiaries named Equitas Microfinance Ltd & Equitas Housing Finance Ltd & formed a bank. After receiving a license in Sept 2016 the company commenced operations under Equitas small finance Bank. [1] [2]

Key Points

Geographical Diversification
It is present in 18 states & UTs with 964 Banking outlets & 365 ATMs [1] Company has highest number of branches in Tamil Nadu (335), Maharashtra (152), Karnataka (110). Similarly, Company get maximum business from Tamil Nadu (Advances 49%, Deposits 28%), followed by Maharashtra (Advances 15%, Deposits 13%) & Karanataka (Advances 12%, Deposits 9%)[2]

  • Market Cap 11,616 Cr.
  • Current Price 102
  • High / Low 116 / 80.1
  • Stock P/E 14.5
  • Book Value 46.4
  • Dividend Yield 0.98 %
  • ROCE 10.4 %
  • ROE 15.5 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 30.6% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 12.1% 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

Sector: Banks Industry: Banks - Private Sector

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Revenue 818 819 844 901 896 940 1,002 1,063 1,156 1,254 1,359 1,429 1,445
Interest 370 358 360 360 343 360 393 416 449 511 593 644 659
474 550 579 529 540 587 602 571 685 662 680 715 758
Financing Profit -26 -89 -95 12 13 -7 7 77 22 81 86 70 28
Financing Margin % -3% -11% -11% 1% 1% -1% 1% 7% 2% 6% 6% 5% 2%
178 104 152 134 148 133 145 153 239 171 181 205 240
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 153 14 57 146 161 127 152 229 261 252 267 276 268
Tax % 26% 16% 28% 26% 26% 23% 24% 26% 27% 24% 26% 27% 23%
113 12 41 108 120 97 116 170 190 191 198 202 208
EPS in Rs 0.99 0.10 0.36 0.94 0.95 0.77 0.93 1.36 1.71 1.72 1.77 1.79 1.83
Gross NPA % 3.59% 4.76% 4.82% 4.39% 4.24% 4.10% 3.91% 3.63% 2.76% 2.75% 2.27% 2.53% 2.61%
Net NPA % 1.52% 2.38% 2.46% 2.38% 2.47% 2.15% 1.97% 1.82% 1.21% 1.18% 0.97% 1.13% 1.17%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Revenue 0 6 408 981 1,543 2,112 2,645 3,194 3,460 4,162 5,486
Interest 0 2 159 460 684 964 1,150 1,396 1,421 1,617 2,407
0 17 230 561 964 1,015 1,304 1,628 2,123 2,361 2,815
Financing Profit -0 -13 19 -40 -105 133 191 170 -84 184 264
Financing Margin % -1,100% -208% 5% -4% -7% 6% 7% 5% -2% 4% 5%
0 0 71 233 241 283 282 418 538 670 799
Depreciation 0 0 5 32 88 92 96 76 75 85 0
Profit before tax -0 -13 85 161 49 324 377 511 378 769 1,063
Tax % 0% 0% 0% 36% 34% 35% 35% 25% 26% 25% 25%
-0 -13 85 104 32 211 244 384 281 574 799
EPS in Rs -3.96 -2.13 2.01 1.04 0.32 2.09 2.31 3.37 2.24 5.16 7.04
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 19% 14%
Compounded Sales Growth
10 Years: %
5 Years: 21%
3 Years: 20%
TTM: 32%
Compounded Profit Growth
10 Years: %
5 Years: 31%
3 Years: 28%
TTM: 39%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 21%
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 12%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 6 61 423 1,006 1,006 1,006 1,053 1,139 1,252 1,111
Reserves -0 -13 288 1,006 1,038 1,248 1,691 2,257 2,994 4,047
0 44 1,638 6,700 10,781 12,980 15,923 20,557 21,567 28,354
0 14 65 533 485 529 628 755 1,134 1,446
Total Liabilities 5 105 2,414 9,245 13,310 15,763 19,296 24,708 26,948 34,958
0 4 11 274 280 236 210 184 189 338
CWIP 0 0 0 15 1 2 2 1 11 41
Investments 0 0 0 1,890 3,857 2,344 2,343 3,705 4,450 6,665
5 102 2,403 7,066 9,172 13,181 16,740 20,818 22,297 27,914
Total Assets 5 105 2,414 9,245 13,310 15,763 19,296 24,708 26,948 34,958

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-336 1,334 213 1,799 440 2,044 159 -998 4,298
-9 -405 -11 -7 -72 -43 -89 49 -422
168 -563 -28 -1,706 908 -1,154 -1,317 60 -1,612
Net Cash Flow -177 366 173 86 1,276 847 -1,246 -888 2,264

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % -49% 8% 2% 10% 10% 13% 7% 12%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
81.75% 81.55% 81.36% 74.59% 74.52% 74.50% 74.48% 0.00% 0.00% 0.00% 0.00% 0.00%
0.51% 0.80% 0.74% 3.62% 4.09% 4.26% 4.08% 22.69% 21.45% 18.16% 19.61% 19.50%
13.62% 12.83% 12.78% 16.69% 15.59% 15.36% 15.34% 42.97% 42.96% 43.93% 45.64% 45.21%
4.12% 4.81% 5.12% 5.10% 5.80% 5.86% 6.09% 34.33% 35.58% 37.91% 34.74% 35.28%
No. of Shareholders 89,3131,03,9741,13,4051,27,0731,34,1081,35,5851,35,0123,17,9163,24,1303,62,7513,61,7093,72,304

* 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.

Click on the line-items to see the names of individual entities.

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