ESAF Small Finance Bank Ltd
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]
- Market Cap ₹ 1,766 Cr.
- Current Price ₹ 34.3
- High / Low ₹ 54.2 / 24.3
- Stock P/E
- Book Value ₹ 37.7
- Dividend Yield 2.04 %
- ROCE 4.50 %
- ROE -20.9 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.91 times its book value
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of 4.50% over last 3 years.
- Earnings include an other income of Rs.409 Cr.
* 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
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
29 | 597 | 1,032 | 1,413 | 1,641 | 1,940 | 2,854 | 3,818 | 3,862 | |
Interest | 16 | 315 | 458 | 621 | 720 | 793 | 1,017 | 1,449 | 1,811 |
31 | 357 | 538 | 646 | 879 | 1,248 | 1,676 | 2,190 | 3,154 | |
Financing Profit | -18 | -75 | 35 | 146 | 43 | -101 | 160 | 180 | -1,102 |
Financing Margin % | -61% | -13% | 3% | 10% | 3% | -5% | 6% | 5% | -29% |
19 | 102 | 109 | 133 | 127 | 208 | 288 | 442 | 409 | |
Depreciation | 0 | 0 | 17 | 23 | 29 | 33 | 42 | 51 | 0 |
Profit before tax | 1 | 27 | 127 | 256 | 141 | 74 | 406 | 570 | -693 |
Tax % | 0% | 0% | 29% | 26% | 25% | 26% | 26% | 25% | -25% |
1 | 27 | 90 | 190 | 105 | 55 | 302 | 426 | -521 | |
EPS in Rs | 0.03 | 0.87 | 2.11 | 4.45 | 2.34 | 1.22 | 6.73 | 8.27 | -10.12 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 22% |
3 Years: | 26% |
TTM: | 1% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
TTM: | -209% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -35% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 5% |
3 Years: | 5% |
Last Year: | -21% |
Balance Sheet
Figures in Rs. Crores
Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 302 | 312 | 428 | 428 | 449 | 449 | 449 | 515 | 515 |
Reserves | 4 | 31 | 466 | 656 | 903 | 962 | 1,266 | 1,977 | 1,430 |
Deposits | 409 | 2,523 | 4,317 | 7,028 | 8,999 | 12,815 | 14,666 | 19,868 | 23,276 |
Borrowing | 2,053 | 1,675 | 1,702 | 1,203 | 1,694 | 2,953 | 3,354 | 3,223 | 1,406 |
227 | 183 | 145 | 154 | 293 | 528 | 489 | 505 | 551 | |
Total Liabilities | 2,994 | 4,724 | 7,058 | 9,470 | 12,339 | 17,708 | 20,224 | 26,087 | 27,178 |
33 | 69 | 86 | 116 | 133 | 159 | 188 | 205 | 300 | |
CWIP | 0 | 0 | 4 | 4 | 6 | 0 | 0 | 3 | 0 |
Investments | 579 | 732 | 1,531 | 1,734 | 1,932 | 4,070 | 4,889 | 5,541 | 5,995 |
2,382 | 3,924 | 5,438 | 7,616 | 10,268 | 13,478 | 15,147 | 20,338 | 20,883 | |
Total Assets | 2,994 | 4,724 | 7,058 | 9,470 | 12,339 | 17,708 | 20,224 | 26,087 | 27,178 |
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 % | 8% | 15% | 19% | 9% | 4% | 19% | 20% | -21% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1d - Allotment of Equity Shares under ESAF Small Finance Bank Employee Stock Option Plan 2019
-
Intimation On Sale Of NPA And Technically Written Off Loans To Asset Reconstruction Company (ARC)
2d - Sold ₹733.40 Cr NPA portfolio to ARC for ₹73.34 Cr via Swiss Challenge Method on June 30, 2025.
- Closure of Trading Window 25 Jun
-
Sale Of NPA And Technically Written Off Loans To ARC
18 Jun - Board approved sale of ₹735.18 Cr NPA and written-off loans to ARC with 90.15% provisions.
-
Board Meeting Outcome for Outcome Of The Board Meeting Held On June 18, 2025
18 Jun - Board approved sale of ₹735.18 Cr NPAs and written-off loans to ARC with 90.15% provisions.
Concalls
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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