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JSFB · price
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Jana Small Finance Bank reported Q4 FY26 PAT of INR 140 crores, meeting its own guidance range of INR 140-160 crores. Credit quality improved significantly with slippages at INR 334 crores (lowest since Q1 FY25), net credit cost at 0.47% (down from 0.79% in Q3), and SMA at 3.66% below the 4% target. The bank achieved 23% YoY asset growth (INR 36,289 crores) and 23% deposit growth (INR 35,784 crores), with secured assets now comprising 72.6% of the book. Cost of funds declined 20 bps in Q4 to 7.46%. Management provided FY27 guidance of 19-21% loan portfolio growth, 23-25% deposit growth, and 80%+ PAT growth. Gold loans grew 140% YoY to INR 2,358 crores, while the used car business launched in October is doing INR 25 crores monthly disbursements. The bank expects first CGMFU claim payout of ~INR 65 crores in Q3 FY27. Collections have recovered to 99%+ for both BC and own books since January 2026.
The bank has exited the MFI stress period in a stronger position with improved asset quality, better SMA metrics than pre-crisis levels, and multiple growth levers (gold loans, used cars, affordable housing). The 80%+ PAT growth guidance for FY27 signals strong operating leverage ahead.