Utkarsh Small Finance Bank Limited has informed the Exchange about Transcript
UTKARSHBNK · price
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Utkarsh SFB submitted the transcript of its Q4 FY25 earnings call held on May 5, 2025. FY25 was a tough year with microfinance stress peaking in Q4, but deposits grew 23% YoY to INR 21,566 crores with CASA ratio improving to 21.8%. The secured non-JLG portfolio showed strong traction: MSME grew 52% YoY to INR 3,875 crores, housing up 36% to INR 918 crores, and secured share rose from 34% to 43% of the book. However, GNPA spiked from 6.17% to 9.43% due to JLG stress, and PAT collapsed from INR 498 crores in FY24 to just INR 24 crores in FY25. Management indicated microfinance stress has peaked, SMA book has halved to 5%, and they expect another 2 quarters of pain in H1 FY26 before material improvement. No specific FY26 guidance was given; reverse merger awaits SEBI approval before NCLT filing.
Near-term outlook is weak as profitability will stay under pressure for the next two quarters due to elevated credit costs in microfinance, though operational metrics like deposit growth and secured book expansion remain strong. The stock may face volatility until JLG asset quality normalizes by Q2 FY26, but the improving secured portfolio mix and credit guarantee registration are positive structural signals.