NSE: JSFB · BSE: 544118
JANA SMALL FIN BANK LTD
Operates a small finance bank with 826 branches across India, lending mainly to retail and small-business customers. Segment revenue (YTD Dec 2024) is dominated by retail units at 78.2% (₹5,086 cr), which houses microfinance, gold loans and used-car finance; treasury operations contribute 16.8% (₹1,096 cr) and corporate/wholesale banking 3.4% (₹224 cr). As of Q1 FY27 the gross loan portfolio stood at ₹37,612 cr, of which the secured book is 72.8% — split between an ₹10,240 cr microfinance book, a ₹2,678 cr gold loan book and used-car finance running at ₹45 cr per month across 50 cities. On the liability side, deposits totalled ₹35,756 cr with CASA up 31% year-on-year. Cost of funds at 7.4% is the bank's biggest input cost, against a net interest margin of 7.5%. Asset quality sits at gross NPA 2.24% and net NPA 0.85% with credit cost of 0.45%, and the capital adequacy ratio is 20.18%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail units (microfinance, gold loans, used-car finance) (78%), Treasury (17%), Corporate/Wholesale Banking (3%), Other Banking operations (2%), Digital Banking Units (0%). Small finance bank; retail-lending-heavy with microfinance exposure
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | — | — | — |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | 670 | 501 | 326 |
| EPS, as reported (₹) | 90.85 | 47.89 | 31.02 |
| ROE % · ROCE % | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — |
| Cash from operations | 707 | 4,073 | 594 |
| Capex | — | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | 88 | 105 | 120 | 102 | 75 | 10 | 140 | 155 |
| Net profit | 97 | 111 | 123 | 102 | 75 | 10 | 140 | 155 |
| EPS (₹) | 9.25 | 10.57 | 11.76 | 9.69 | 7.13 | 0.92 | 13.28 | 14.74 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| AU SMALL FINANCE BANK LTD | 63,513 | 22.2 | — | — | — | — | — | — |
| UJJIVAN SMALL FINANC BANK | 10,783 | 11.9 | — | — | — | — | — | — |
| EQUITAS SMALL FIN BNK LTD | 7,400 | 14.5 | — | — | — | — | — | — |
| JANA SMALL FIN BANK LTD ◆ | 4,144 | 10.9 | — | — | — | — | — | — |
| UTKARSH SMALL FIN BANK L | 2,095 | — | — | — | — | — | — | — |
| ESAF SMALL FINANCE BANK L | 2,000 | 19.3 | — | — | — | — | — | — |
| SURYODAY SMALL FIN BK LTD | 1,385 | 7.2 | — | — | — | — | — | — |
| CAPITAL SMALL FIN BANK L | 1,164 | 6.3 | — | — | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.9 | 13.2 | 3 of 8 | 71% |
| Profit growth | 52.3 | 85.8 | 6 of 9 | 38% |
| Market cap | 4144 | 2095 | 4 of 9 | 63% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Audio recording of September 2026 quarter earnings call | investor communications | low | — | — |
| 23 Oct 2026 · Sneha Sharma appointed Company Secretary and Compliance Officer | management changes | medium | — | — |
| 23 Oct 2026 · Q2 FY27 PAT rises 127% and FY27 profit growth guidance raised to 100% | investor communications | medium | — | — |
| 23 Oct 2026 · 17,869 employee shares allotted under Jana Small Finance Bank ESOPs | capital market events | low | — | — |
| 23 Oct 2026 · Jana Small Finance Bank posts 84% higher half-year profit | results | high | — | — |
| 23 Oct 2026 · Q2 profit rises 127%; FY27 profit guidance raised to 100% growth | results | high | — | — |
| 23 Oct 2026 · Sep 2026 results: first-half PAT up 84% to Rs 325.6 crore | results | high | — | — |
| 19 Oct 2026 · Bank clarifies on media report about acquisition talks with Federal Bank | strategic transactions | high | — | — |
| 19 Oct 2026 · NSE seeks clarification on Federal Bank acquisition news item | regulatory legal | high | — | — |
| 16 Oct 2026 · Investor conference call on Q2FY27 results scheduled for 23 October 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.