ESAF Small Finance Bank Ltd

ESAF Small Fin Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

ESAF Small Finance Bank Ltd

₹ 23.8 1.06%
17 Mar 11:15 a.m.
esafbank.com BSE: 544020 NSE: ESAFSFB
About

Incorporated in 1992, ESAF Small Finance
Bank provides micro, retail and corporate banking, para banking activities such as
debit card, third party financial product distribution, in addition to treasury and
permitted foreign exchange business[1]

Key Points

Business Overview:[1][2][3]
a) ESAF SFB is a Scheduled commercial bank with a presence in 24 States and 2 UTs, with ~756 Banking Outlets and 646 ATMs
b) It has 8,834 Customer Touchpoints for 89.4 lakh Customers
c) Company has Loan Book of Rs. 19,216 Cr which includes Micro Loans ~62%, and Retail & Other Loans ~38%. It has Deposits of Rs. 21,613 Cr
d) GNPA ~6.9%, NNPA ~2.9%, CASA ~22.7%, NIM ~10.7%
e) 53% of their customers are in rural and semi urban areas, and 70% of their banking outlets are in rural and semi-urban areas

Website BSE NSE
  • Market Cap ₹ 1,227 Cr.
  • Current Price ₹ 23.8
  • High / Low ₹ 36.2 / 23.2
  • Stock P/E
  • Book Value ₹ 33.9
  • Dividend Yield 0.00 %
  • ROCE 4.28 %
  • ROE -23.5 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Stock is trading at 0.68 times its book value

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 3.51% over last 3 years.
  • Earnings include an other income of Rs.754 Cr.
  • Working capital days have increased from 41.1 days to 82.3 days

* 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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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
701.28 773.80 898.72 943.37 974.40 1,002.00 1,022.34 995.28 947.85 892.06 828.23 819.82 894.05
Interest 249.93 274.91 313.29 346.79 377.40 411.25 434.10 456.06 462.87 457.65 450.36 448.02 461.72
481.23 456.69 504.75 487.20 567.10 682.06 618.72 833.61 881.30 819.97 682.21 672.38 692.59
Financing Profit -29.88 42.20 80.68 109.38 29.90 -91.31 -30.48 -294.39 -396.32 -385.56 -304.34 -300.58 -260.26
Financing Margin % -4.26% 5.45% 8.98% 11.59% 3.07% -9.11% -2.98% -29.58% -41.81% -43.22% -36.75% -36.66% -29.11%
80.91 94.02 93.06 78.91 119.95 149.84 115.40 39.73 113.93 144.72 195.14 145.16 269.39
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit before tax 51.03 136.22 173.74 188.29 149.85 58.53 84.92 -254.66 -282.39 -240.84 -109.20 -155.42 9.13
Tax % 26.69% 25.58% 25.20% 25.58% 25.17% 25.94% 26.08% -25.36% -25.32% -23.94% -25.62% -25.49% 22.02%
37.41 101.38 129.96 140.12 112.14 43.35 62.77 -190.07 -210.90 -183.19 -81.22 -115.81 7.12
EPS in Rs 0.83 2.26 2.89 3.12 2.18 0.84 1.22 -3.69 -4.09 -3.55 -1.58 -2.25 0.14
Gross NPA % 7.24% 2.49% 1.65% 2.64% 4.16% 4.76% 6.61% 6.98% 6.96% 6.87% 7.48% 8.54% 5.64%
Net NPA % 3.73% 1.13% 0.81% 1.19% 2.19% 2.26% 3.22% 2.98% 2.97% 2.99% 3.77% 3.83% 2.73%
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
29 597 1,032 1,413 1,641 1,940 2,854 3,819 3,862 3,434
Interest 16 315 458 621 720 793 1,017 1,449 1,811 1,818
31 357 538 646 879 1,248 1,676 2,190 3,152 2,867
Financing Profit -18 -75 35 146 43 -101 160 180 -1,101 -1,251
Financing Margin % -61% -13% 3% 10% 3% -5% 6% 5% -28% -36%
19 102 109 133 127 208 288 442 467 754
Depreciation 0 0 17 23 29 33 42 51 59 0
Profit before tax 1 27 127 256 141 74 406 570 -693 -496
Tax % 0% 0% 29% 26% 25% 26% 26% 25% -25%
1 27 90 190 105 55 302 426 -521 -373
EPS in Rs 0.03 0.87 2.11 4.45 2.34 1.22 6.73 8.27 -10.12 -7.24
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 8% 0%
Compounded Sales Growth
10 Years: %
5 Years: 22%
3 Years: 26%
TTM: -13%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -58%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -11%
Return on Equity
10 Years: %
5 Years: 4%
3 Years: 4%
Last Year: -23%

Balance Sheet

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 302 312 428 428 449 449 449 515 515 516
Reserves 4 31 466 656 903 962 1,266 1,977 1,434 1,233
Deposits 409 2,523 4,317 7,028 8,999 12,815 14,666 19,868 23,276 22,894
Borrowing 2,053 1,675 1,702 1,203 1,694 2,953 3,354 3,223 1,406 2,113
227 183 145 154 293 528 489 505 547 374
Total Liabilities 2,994 4,724 7,058 9,470 12,339 17,708 20,224 26,087 27,178 27,129
33 69 86 116 133 159 188 205 237 435
CWIP 0 0 4 4 6 0 0 3 63 0
Investments 579 732 1,531 1,734 1,932 4,070 4,889 5,541 5,995 6,396
2,382 3,924 5,438 7,616 10,268 13,478 15,147 20,338 20,883 20,298
Total Assets 2,994 4,724 7,058 9,470 12,339 17,708 20,224 26,087 27,178 27,129

Cash Flows

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-239 1,089 1,127 -584 -571 1,001 3,176
-171 -635 -638 -982 -573 -583 -769
488 -499 653 1,259 399 235 -1,852
Net Cash Flow 78 -45 1,143 -308 -745 654 556

Ratios

Figures in Rs. Crores

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
ROE % 0% 8% 15% 19% 9% 4% 19% 20% -23%

Insights

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Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Gross Advances
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Number of Banking Outlets
Numbers
Total Deposits
₹ Crore
CASA Ratio
%
Cost of Funds
%
Gross NPA
%
Yield on Advances
%
Total Customers
Million
Secured Asset Mix
%

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
63.39% 63.39% 63.39% 63.38% 63.36% 63.31% 63.31% 63.30% 63.29%
1.16% 0.81% 0.12% 0.15% 0.16% 0.27% 0.16% 0.16% 0.01%
10.98% 10.26% 8.90% 5.56% 5.02% 5.00% 5.00% 5.00% 4.97%
24.48% 25.53% 27.57% 30.92% 31.45% 31.41% 31.51% 31.53% 31.74%
No. of Shareholders 94,7131,02,1241,07,4131,15,8181,18,5121,16,9121,16,4901,13,9551,11,691

* 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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