NSE: UJJIVANSFB · BSE: 542904
UJJIVAN SMALL FINANC BANK
Operates as a Small Finance Bank focused on financial inclusion, earning the bulk of its revenue from Retail banking, which accounted for 85.7% of segment revenue in the YTD period to 31 December 2024. Retail covers micro banking loans to small borrowers, alongside secured products such as gold loans, vehicle loans and agri banking; the secured share of the loan book stood at 50.4% as of Q1 FY27, with gold loans scaling to INR 1,020 crore (up 248.6% YoY). Treasury contributes 11.7% of segment revenue from the bank's investment portfolio, while Wholesale banking at 2.6% covers lending to small and mid-sized businesses. The bank funds itself primarily through deposits, with total deposits at INR 48,129 crore (CASA ratio 26.8%) and a gross loan book of INR 42,903 crore at Q1 FY27. Its cost base is dominated by interest expense on these deposits, and net interest margin was reported at 8.5%. Asset quality is the key swing factor: gross NPA stood at 2.17% with bucket-X collection efficiency at 99.7%, and FY26 credit cost was 2.2% of average gross loan book. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail (86%), Treasury (12%), Wholesale (3%). Small Finance Bank with a secured/unsecured mix actively being rebalanced toward secured lending; deposit-funded balance sheet
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | (415) | 1,100 | 1,281 | 726 | 693 |
| EPS, as reported (₹) | (2.40) | 5.88 | 6.65 | 3.75 | 3.57 |
| ROE % · ROCE % | — · — | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 2,547 | 1,060 | 1,582 | 2,028 | 1,843 |
| 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 | 310 | 136 | 95 | 136 | 160 | 244 | 371 | 421 |
| Net profit | 233 | 109 | 83 | 103 | 122 | 186 | 282 | 317 |
| EPS (₹) | 1.21 | 0.56 | 0.43 | 0.53 | 0.63 | 0.96 | 1.45 | 1.63 |
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) | 11.9 | 13.2 | 4 of 8 | 57% |
| Profit growth | 206.7 | 85.8 | 1 of 9 | 100% |
| Market cap | 10783 | 2095 | 2 of 9 | 88% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Ujjivan Small Finance Bank schedules investor meeting | board shareholder meetings | low | — | — |
| 22 Oct 2026 · Ujjivan SFB Q2 FY27 earnings: Record PAT INR365 cr, deposits cross 50K cr | investor communications | medium | — | — |
| 20 Oct 2026 · Ujjivan SFB publishes newspaper notice ahead of November 13 EGM | compliance | minimal | — | — |
| 19 Oct 2026 · Ujjivan SFB EGM on Nov 13, 2026 for preferential issue of about Rs. 409 crore shares | board shareholder meetings | low | — | — |
| 17 Oct 2026 · Ujjivan SFB publishes newspaper notice for EGM on Nov 13, 2026 | compliance | minimal | — | — |
| 17 Oct 2026 · Newspaper publication of Q2 FY26-27 financial results | compliance | minimal | — | — |
| 16 Oct 2026 · Audio recording of Q2 FY26 earnings call shared | investor communications | low | — | — |
| 16 Oct 2026 · Ujjivan SFB grants 1.35 crore ESOP options and 2.44 lakh RSUs to staff | capital market events | medium | — | — |
| 16 Oct 2026 · Ujjivan SFB signs subscription pact with IFC for about Rs 249 Cr preferential issue | fund raising | high | — | — |
| 16 Oct 2026 · Ujjivan SFB Q2FY27: Record PAT of Rs 365 Cr, deposits cross Rs 50,000 Cr | compliance | 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.