UTKARSHBNK
Utkarsh Small Finance Bank share price & financials
- Price
- ₹14.79
- Market cap
- ₹2.5k Cr
- Sector
- Financial Services
- Calls analysed
- 6
Utkarsh Small Finance Bank Limited Q1 FY27
What went well
- Total disbursements grew by 49% year-on-year in Q1 FY27, driven by JLG (5% YoY) and non-JLG (93% YoY) segments.
- Fresh NPA slippages reduced materially to ~INR125 crores, compared with ~INR170 crores in the previous quarter and ~INR400 crores in the corresponding quarter of the previous year.
- The GNPA ratio improved to 5.9% as of June 2026, representing an improvement of ~550 basis points year-on-year and ~160 basis points quarter-on-quarter.
What to watch
- The bank reported a net loss of INR34 crores in Q1 FY27, though this represents a reduction of more than 80% YoY and sequentially.
- Recoveries and upgradations are slower than expected, particularly for the secured book due to legal processes, though Q1 is typically slow for recoveries.
What Utkarsh Small Finance Bank Limited does
Utkarsh Small Finance Bank is a scheduled commercial bank licensed by the RBI as a Small Finance Bank, evolved from a microfinance NBFC (Utkarsh CoreInvest) into a full-fledged bank commencing SFB operations in January 2017. It lends through Micro-Banking (Joint Liability Group and individual micro-business loans), Other Retail Loans (MSME, housing, gold, and commercial vehicle/construction equipment loans), and Wholesale Lending to small and mid-sized corporates, funded by current, savings, and term/recurring deposits gathered through its branch network. Beyond lending and deposit-taking, it earns fee income by distributing third-party insurance, mutual funds, and payment/remittance services to its customer base. Its core franchise remains rural and semi-urban households and small businesses in Bihar and Uttar Pradesh, while it expands retail lending and deposit-gathering into new geographies for diversification.
Segments
- Micro-Banking
- Other Retail Loans
- Wholesale Lending
- Liability & Deposit Products
- Banking outlets
- 1,110 (Mar 2026)
- States & Union Territories covered
- 27
- Total customers
- 5.19 million (Mar 2026)
- Employees
- 18,400 (Mar 2026)
- ATM / micro-ATM network
- 373 ATMs plus 787 micro-ATMs
- Unbanked Rural Centres (URCs)
- 298
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 2 delivered 2 missed 14 open- JLG Loan Book Growth missed said Q4 FY25 Promised: We expect JLG loan book decline to get arrested by end of quarter 1 FY '26. Q1 FY27: Historical promise, no new updates.
- Loan Book Growth on track said Q2 FY26 Promised: For the next 2-3-years period, the Bank targets the loan book growth of around 25% Q1 FY27: Reiterated guidance for 25% to 30% growth for FY27 and FY28.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 0.3%, net profit up 85.8% 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 | 987 | 932 | 880 | 881 | 840 −15% | 821 −12% | 837 −5% | 884 +0% |
| Net profit | 51 | -168 | 3 | -239 | -348 −782% | -375 −123% | -188 −6367% | -34 +86% |
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 −32.9% 1Y
1Y: ₹21.64 on 10 Sept 2025 → ₹14.52. High ₹23.2 (13 Oct 2025), low ₹10.22 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.4%
- 3 Aug
- Q4 FY26
- −7.1%
- 11 May
- Q3 FY26
- −0.7%
- 2 Feb
- Q2 FY26
- +0.1%
- 19 Nov
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 10.5% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.5k Cr | ₹3.2k Cr | ₹3.8k Cr | ₹3.4k Cr |
| Interest | ₹977 Cr | ₹1.3k Cr | ₹1.7k Cr | ₹1.9k Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹405 Cr | ₹498 Cr | ₹23 Cr | ₹-1.1k Cr |
| Net margin | 16.2% | 15.7% | 0.6% | -34.0% |
| Cash from operations | ₹1.6k Cr | ₹991 Cr | ₹876 Cr | ₹781 Cr |
| Free cash flow | ₹1.5k Cr | ₹921 Cr | ₹718 Cr | ₹638 Cr |
| ROE | 23.0% | 20.0% | 1.0% | -40.0% |
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 | ₹848 Cr | ₹896 Cr | ₹896 Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.8k Cr |
| Reserves | ₹520 Cr | ₹677 Cr | ₹1.1k Cr | ₹1.9k Cr | ₹1.2k Cr | ₹996 Cr |
| Borrowings | ₹2.6k Cr | ₹2.6k Cr | ₹2.3k Cr | ₹2.0k Cr | — | ₹2.8k Cr |
| Deposits | ₹7.5k Cr | ₹10.1k Cr | ₹13.7k Cr | ₹17.5k Cr | — | ₹21.7k Cr |
| Other liabilities | ₹654 Cr | ₹845 Cr | ₹1.1k Cr | ₹1.5k Cr | ₹1.6k Cr | ₹1.6k Cr |
| Total liabilities | ₹12.1k Cr | ₹15.1k Cr | ₹19.1k Cr | ₹23.9k Cr | ₹27.4k Cr | ₹28.9k Cr |
| Fixed assets | ₹125 Cr | ₹286 Cr | ₹301 Cr | ₹301 Cr | ₹417 Cr | ₹333 Cr |
| Capital work in progress | ₹56 Cr | ₹1 Cr | ₹2 Cr | ₹10 Cr | ₹0 Cr | ₹125 Cr |
| Investments | ₹2.3k Cr | ₹2.3k Cr | ₹2.9k Cr | ₹3.7k Cr | ₹5.4k Cr | ₹6.9k Cr |
| Other assets | ₹9.6k Cr | ₹12.4k Cr | ₹16.0k Cr | ₹19.9k Cr | ₹21.6k Cr | ₹21.5k Cr |
| Total assets | ₹12.1k Cr | ₹15.1k Cr | ₹19.1k Cr | ₹23.9k Cr | ₹27.4k Cr | ₹28.9k 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.
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Utkarsh Small Finance Bank Limited
Guides on how to read this kind of business and the numbers that matter.