JSFB
Jana Small Finance Bank share price & financials
- Price
- ₹493
- Market cap
- ₹5.8k Cr
- Sector
- Financial Services
- Calls analysed
- 8
Jana Small Finance Bank Limited Q1 FY27
What went well
- PAT of INR155 crore, indicating strong profitability.
- NIM backed up to 7.5%, driven by a 50 basis points YoY decline in cost of funds.
- Asset quality improved significantly with gross NPA at 2.24% and net NPA at 0.85%.
What to watch
- Slight increase in overall SMA noted in Q1 FY27.
- Micro LAP segment experienced a temporary blip in growth due to model amendments.
What Jana Small Finance Bank Limited does
Jana Small Finance Bank is a Bengaluru-headquartered scheduled bank that lends to and takes deposits from underserved, aspirational segments of India through its own branch network. It earns through interest income on a mix of secured loans (affordable housing, micro loan-against-property, MSME, vehicle and gold loans) and unsecured microfinance loans to individuals and groups, alongside fee income from mobilising CASA and term deposits and cross-selling insurance, wealth and payment products through its branches and digital channels.
Segments
- Secured Advances
- Unsecured Advances (Microfinance)
- Deposits & Liabilities
- Banking outlets
- 822
- Geographic presence
- 23 states and 2 union territories
- Employees
- 26,246
- Customers served since 2008
- Over 12 million
- Active customers
- 4.3 million
- ATMs
- 62
Guidance record · Q1 FY27
what the last two calls moved 28 tracked 9 delivered 4 missed 15 open- Secured Advances % of Total delivered said Q2 FY25 Promised: 68-70% by end of FY25 Q1 FY27: Previously achieved. Secured assets grew 29% YoY, maintaining the strategic focus.
- PAT Growth went quiet said Q2 FY25 Promised: closer to 30% Q1 FY27: Not addressed. Promise is from FY25 and has long been superseded.
- Cost-to-Income Ratio revised down said Q3 FY26 Promised: 60-62% by Q2/Q3 FY27 Q1 FY27: CTI was 66.7%. Management revised FY27 guidance to 63-65%, a step back from the 'below 60%' ambition mentioned in Q4 and worse than the original 60-62% target.
All 28 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 22.1%, net profit up 52.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,166 | 1,177 | 1,184 | 1,241 | 1,305 +12% | 1,374 +17% | 1,445 +22% | 1,515 +22% |
| Net profit | 97 | 111 | 123 | 102 | 75 −23% | 10 −91% | 140 +14% | 155 +52% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +9.9% 1Y
1Y: ₹470.4 on 10 Sept 2025 → ₹516.85. High ₹584.85 (3 Aug 2026), low ₹341.85 (9 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.2%
- 15 Jul
- Q4 FY26
- −5.2%
- 29 Apr
- Q3 FY26
- +1.8%
- 6 Feb
- Q2 FY26
- −2.4%
- 17 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 20.7% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹3.1k Cr | ₹4.0k Cr | ₹4.7k Cr | ₹5.4k Cr |
| Interest | ₹1.4k Cr | ₹1.9k Cr | ₹2.3k Cr | ₹2.8k Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹256 Cr | ₹670 Cr | ₹502 Cr | ₹327 Cr |
| Net margin | 8.4% | 16.7% | 10.7% | 6.1% |
| ROE | 20.0% | 26.0% | 13.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹51 Cr | ₹51 Cr | ₹55 Cr | ₹105 Cr | ₹105 Cr | ₹105 Cr |
| Reserves | ₹926 Cr | ₹999 Cr | ₹1.5k Cr | ₹3.5k Cr | ₹4.2k Cr | ₹4.3k Cr |
| Borrowings | ₹5.0k Cr | ₹4.7k Cr | ₹6.5k Cr | ₹5.2k Cr | — | ₹5.5k Cr |
| Deposits | ₹12.4k Cr | ₹13.5k Cr | ₹16.3k Cr | ₹22.6k Cr | — | ₹35.8k Cr |
| Other liabilities | ₹763 Cr | ₹938 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.6k Cr | ₹1.7k Cr |
| Total liabilities | ₹19.1k Cr | ₹20.2k Cr | ₹25.6k Cr | ₹32.7k Cr | ₹42.2k Cr | ₹47.4k Cr |
| Fixed assets | ₹211 Cr | ₹170 Cr | ₹123 Cr | ₹139 Cr | ₹177 Cr | ₹199 Cr |
| Capital work in progress | ₹1 Cr | ₹1 Cr | ₹5 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹4.7k Cr | ₹5.1k Cr | ₹5.2k Cr | ₹6.7k Cr | ₹8.6k Cr | ₹9.8k Cr |
| Other assets | ₹14.2k Cr | ₹15.0k Cr | ₹20.3k Cr | ₹25.8k Cr | ₹33.4k Cr | ₹37.4k Cr |
| Total assets | ₹19.1k Cr | ₹20.2k Cr | ₹25.6k Cr | ₹32.7k Cr | ₹42.2k Cr | ₹47.4k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −4.94 pp while FIIs added +3.73 pp. The shareholder count shrank 6% to 49,932.
- Promoters
- 16.9%
- FIIs
- 4.0%
- DIIs
- 15.3%
- Government
- 1.0%
- Public
- 62.7%
Since Jun 2025
- Promoters −4.94 pp
- FIIs +3.73 pp
- Government +1.03 pp
How it drifted, 10 quarters
Over this window promoters fell from 22.5% to 16.9% — −5.6 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 22.5%, FIIs 1.1%, DIIs 17.7%, Public 58.6%.Jun '24: Promoters 22.5%, FIIs 1.0%, DIIs 17.7%, Public 58.7%.Sep '24: Promoters 22.4%, FIIs 1.1%, DIIs 18.0%, Public 58.5%.Dec '24: Promoters 22.4%, FIIs 0.5%, DIIs 18.5%, Public 58.7%.Mar '25: Promoters 22.3%, FIIs 0.9%, DIIs 15.9%, Public 60.9%.Jun '25: Promoters 21.9%, FIIs 0.3%, DIIs 16.0%, Public 61.8%.Sep '25: Promoters 21.9%, FIIs 1.2%, DIIs 14.8%, Public 62.1%.Dec '25: Promoters 21.9%, FIIs 4.1%, DIIs 12.9%, Government 2.0%, Public 59.1%.Mar '26: Promoters 21.9%, FIIs 4.3%, DIIs 14.3%, Government 2.0%, Public 57.6%.Jun '26: Promoters 16.9%, FIIs 4.0%, DIIs 15.3%, Government 1.0%, Public 62.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Tvs Motor Company Limited newly disclosed 4.90% held
- Singularity Growth Opportunities Fund Ii VC / PE newly disclosed 1.34% held
- Singularity Equity Fund I AIF newly disclosed 1.31% held
- India Opportunities Growth Fund Ltd - Pinewood Str FPI fund newly disclosed 1.04% held
The same filing shows 7 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Jana Small Finance Bank Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Jana Holdings Limited | 16.94% | −4.91 pp |
| Tpg Asia Vi Sf Pte. Ltd. | 8.11% | unchanged |
| Tvs Motor Company Limited | 4.90% | newly disclosed |
| Sunil Kant Munjal | 3.32% | −0.38 pp |
| Volrado Venture Partners Fund - Iii - Volrado Vent VC / PE | 2.78% | unchanged |
| Bharti Satya Trustees Private Limited | 2.74% | unchanged |
| Harbourvest Partners Co-Investment Fund Iv L.P | 2.38% | unchanged |
| North Haven Private Equity Asia Platinum Pte. Ltd. | 2.04% | −1.14 pp |
| Profitex Shares And Securities Private Limited | 1.57% | unchanged |
| ICICI Prudential Life Insurance Company Limited Insurer | 1.54% | unchanged |
| Ananta Capital Ventures Fund 1 VC / PE | 1.46% | −0.10 pp |
| Puran Associates Private Limited | 1.37% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Jana Small Finance Bank Limited
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