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Ujjivan Small

Q2 FY26Banks

Ujjivan Small Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹63
Market cap₹12.3K Cr
P/E13.6
Updated16 Oct 2026
Read4 min read

The short version

Microfinance (Individual Loans - IL) growth expected to outperform Group Loans (GL) in next 2 quarters, driven by quality customers graduating from GL to IL. The bank expects improved credit costs in FY27 with normalization after elevated provisions in FY26; however, no firm credit cost assumptions for FY27 have been made yet.

From Ujjivan Small's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Microfinance (Individual Loans - IL) growth expected to outperform Group Loans (GL) in next 2 quarters, driven by quality customers graduating from GL to IL.
  • Microfinance book projected to grow around 7-8% for the full financial year; H2 growth expected to be much stronger than H1.
  • Expansion and scaling up of non-micro banking products such as gold loans, vehicle finance, micro-LAP, and retail loans contribute to diversification and growth.
  • Vehicle finance book growing strongly (17% Q-o-Q), with focus on Tier 1 and 2 cities.
  • Micro mortgages (housing) and gold loans are progressing toward breakeven and profitability, signaling growth and margin improvement.

2 more points from Ujjivan Small's call on revenue

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Profitability & Margins

See what Ujjivan Small said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Management indicated no immediate change in expenses related to the anticipated universal bank license.
  • Some minor costs expected post-license approval include updates to signages, email addresses, and letterheads.
  • Other investments and expenses are part of the bank's general strategic plan and are independent of the universal bank license outcome.

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Top-ranked in Banks

Ranked on what management guided this quarter

Guidance-ranked
1Canara Bank
Rev 2Mar 3
2AU Small Finance
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Ujjivan Small said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript provided does not specifically mention current or expected order book or pending orders for Ujjivan Small Finance Bank. The discussion primarily centers around loan books, disbursements, asset quality, provisioning, growth guidance, and operational metrics. Here are relevant points related to loan growth and disbursements which can be loosely related to demand/order inflow: - Loan origination remained strong with highest-ever disbursements of INR 7,932 crores in Q2, up 21% Q-o-Q and 48% Y-o-Y. - For H1 FY '26, disbursements grew 36% to INR 14,471 crores, led by secured loan momentum. - Microfinance book expected to grow 7-8% in full FY, with better growth expected in H2 versus H1.

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What Ujjivan Small's management said in earlier quarters

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Frequently Asked Questions

What were Ujjivan Small Q2 FY26 results?

Microfinance (Individual Loans - IL) growth expected to outperform Group Loans (GL) in next 2 quarters, driven by quality customers graduating from GL to IL. The bank expects improved credit costs in FY27 with normalization after elevated provisions in FY26; however, no firm credit cost assumptions for FY27 have been made yet.

What is Ujjivan Small share price analysis?

Ujjivan Small currently shows a neutral. The stock trades at a P/E of 13.6 with a market cap of ₹12,325 Cr. Investors should review the full earnings analysis for detailed insights.

Is Ujjivan Small planning capital expenditure?

Management indicated no immediate change in expenses related to the anticipated universal bank license.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.