Jana Small Finance Bank Ltd

₹ 416 -0.53%

13 Nov 12:59 p.m.

About

Incorporated in 2006, Jana Small
Finance Bank Ltd provides a wide
range of banking and financial services^[1]

Key Points

Business Overview:^[1]^[2]
JSFBL is a small finance bank. The Jana Holdings Ltd is their promoter with ~22% stake. Bank has 816 Banking Outlets in ~23 States/2 UTs with 4.3 Million Active Customers. It has 62 ATMs, 25,892 employees and has served over 12 mn customers since 2008.

Website BSE NSE

Market Cap ₹ 4,398 Cr.
Current Price ₹ 416
High / Low ₹ 607 / 330
Stock P/E 9.24
Book Value ₹ 462
Dividend Yield 0.00 %
ROCE 7.45 %
ROE 7.60 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.89 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Promoter holding is low: 16.9%
Tax rate seems low
Earnings include an other income of Rs.966 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

Financial Services Financial Services Banks Other Bank

Part of BSE Financial Services Nifty Total Market BSE 1000 Nifty Smallcap 500 BSE Midsmall Private Banks Nifty Microcap 250 BSE MidSmall Private Banks Quality Tilt

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	979	1,038	1,112	1,167	1,166	1,177	1,184	1,241	1,294	1,374	1,445	1,515	1,587
YoY Revenue growth	+36%	+28%	+31%	+32%	+19%	+13%	+6%	+6%	+11%	+17%	+22%	+22%	+23%
Interest	453	490	520	557	572	585	602	655	686	709	709	732	768
	566	553	604	639	681	665	696	750	778	899	861	854	877
Financing Profit	-41	-5	-13	-29	-87	-72	-114	-164	-171	-235	-126	-72	-59
Financing Margin %	-4%	-0%	-1%	-2%	-7%	-6%	-10%	-13%	-13%	-17%	-9%	-5%	-4%
	164	140	179	189	176	177	234	266	246	245	266	227	229
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	123	135	166	160	88	105	120	102	75	10	140	155	170
Tax %	0%	0%	-93%	-7%	-9%	-5%	-3%	0%	0%	0%	0%	0%	0%
	123	135	322	171	97	111	123	102	75	10	140	155	170
EPS in Rs	24.22	26.54	30.76	16.31	9.25	10.56	11.75	9.69	7.13	0.92	13.28	14.74	16.10
Gross NPA %	2.44%	2.19%	2.11%	2.62%	2.97%	2.80%	2.71%	2.91%	2.87%	2.59%	2.46%	2.39%	2.34%
Net NPA %	0.87%	0.71%	0.56%	0.99%	0.99%	0.94%	0.94%	0.94%	0.94%	0.94%	0.92%	0.91%	1.17%
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,555	1,251	1,992	2,498	2,727	3,075	4,014	4,671	5,353	5,919
Revenue growth		-20%	+59%	+25%	+9%	+13%	+31%	+16%	+15%	+21%
Interest	1,164	814	980	1,235	1,337	1,415	1,886	2,317	2,760	2,919
	2,844	2,399	1,322	1,331	1,627	1,960	2,222	2,596	3,213	3,492
Financing Profit	-2,453	-1,963	-311	-68	-238	-300	-94	-242	-620	-491
Financing Margin %	-158%	-157%	-16%	-3%	-9%	-10%	-2%	-5%	-12%	-8%
	42	113	433	235	324	625	670	776	1,022	966
Depreciation	0	99	93	83	81	69	62	61	75	0
Profit before tax	-2,411	-1,949	30	84	5	256	514	474	326	475
Tax %	4%	0%	0%	0%	0%	0%	-30%	-6%	0%
	-2,504	-1,949	30	84	5	256	670	501	326	475
EPS in Rs	-637.29	-413.32	5.94	16.62	1.07	50.46	64.02	47.73	30.99	45.04
Dividend Payout %	-0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	16%
3 Years:	20%
TTM:	21%

Compounded Profit Growth
10 Years:	%
5 Years:	29%
3 Years:	8%
TTM:	16%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-9%

Return on Equity
10 Years:	%
5 Years:	14%
3 Years:	14%
Last Year:	8%

Balance Sheet

Figures in Rs. Crores

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	39	47	51	51	51	55	105	105	105	106
Reserves	1,490	476	843	926	999	1,472	3,473	4,013	4,365	4,780
Deposits	0	4,199	9,652	12,386	13,540	16,334	22,571	29,120	35,784	38,221
Borrowing	7,662	4,236	3,049	4,965	4,660	6,547	5,211	3,867	5,497	5,248
	558	487	550	763	938	1,235	1,350	1,362	1,696	1,761
Total Liabilities	9,749	9,446	14,145	19,091	20,189	25,644	32,710	38,467	47,448	50,115
	385	332	259	211	170	123	139	150	191	247
CWIP	0	2	1	1	1	5	3	3	8	0
Investments	1,997	1,468	2,650	4,698	5,065	5,221	6,738	5,945	9,812	10,062
	7,367	7,644	11,234	14,181	14,952	20,295	25,831	32,369	37,437	39,806
Total Assets	9,749	9,446	14,145	19,091	20,189	25,644	32,710	38,467	47,448	50,115

Cash Flows

Figures in Rs. Crores

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,771	949	615	859	-1,137	708	4,073	594
	-231	-285	-1,266	-1,330	-434	-780	-321	-4,133
	-2,489	-852	1,917	-240	2,104	33	-1,331	1,641
Net Cash Flow	51	-188	1,266	-711	532	-39	2,421	-1,898
Free Cash Flow	2,717	928	573	818	-1,163	631	4,001	472

Ratios

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	-164%	-189%	5%	10%	1%	20%	26%	13%	8%

Insights

In beta

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cost of Funds
%

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Gross Loan Portfolio (AUM)
INR Crore

Gross NPA
%

Active Customers
Million

Share of Secured Advances
%

Banking Outlets (Branches + BC)
count

CASA Ratio
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	22.54%	22.54%	22.38%	22.35%	22.28%	21.88%	21.87%	21.86%	21.85%	16.94%	16.87%
	1.15%	1.02%	1.09%	0.51%	0.89%	0.28%	1.21%	4.11%	4.31%	4.01%	5.10%
	17.70%	17.73%	17.99%	18.47%	15.89%	16.03%	14.81%	12.92%	14.29%	15.31%	16.28%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.98%	1.98%	1.03%	0.00%
	58.62%	58.71%	58.53%	58.67%	60.94%	61.81%	62.12%	59.14%	57.57%	62.69%	61.74%
No. of Shareholders	72,042	49,178	51,033	52,297	52,412	53,351	51,129	51,546	50,785	49,932	50,686

	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	22.54%	22.28%	21.85%	16.87%
	1.15%	0.89%	4.31%	5.10%
	17.70%	15.89%	14.29%	16.28%
	0.00%	0.00%	1.98%	0.00%
	58.62%	60.94%	57.57%	61.74%
No. of Shareholders	72,042	52,412	50,785	50,686

* 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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