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Equitas Small Finance Bank Q2 FY27 Share Price & Earnings Call Analysis

₹57.17-12.22% today
Market cap
₹6,536 Cr
P/E
12.80
ROE
1.68%
PEG
-0.30
Price to sales
0.92
Debt to equity
8.54
52W high / low
₹83.1 / ₹51.7
Sales growth (5Y)
16.29%
EBITDA margin
43.68%
Net profit margin
1.51%
Sales (last year)
₹7,106 Cr

Equitas Small Finance Bank Ltd before acquiring small bank license, operated as a wholly-owned subsidiary of Equitas Holding Ltd. The holding entity started its operations in 2007 in the microfinance segment & diversified into vehicle & housing finance in 2011. Also entered into SME & LAP in 2013. It merged with the other two subsidiaries named Equitas Microfinance Ltd & Equitas Housing Finance Ltd & formed a bank. After receiving a license in Sept 2016 the company commenced operations under Equitas small finance Bank. [1] [2]

Guidance scorecard · Q2 FY27 call

What Equitas Small Finance Bank Ltd's management guided
and where it ranks in Banks

#12of 28 in
Banks
Revenue20–40%MarginsDown 0–2%CapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • The bank targets 20%+ year-on-year advances growth for the current financial year, driven by broad-based growth across key asset classes including small business loans, housing finance, vehicle finance (especially used commercial vehicles and used cars),…
  • Highest-ever first quarter disbursement of Rs. 6,784 crores, up 93% YoY, indicating strong sales momentum.
  • Non-microfinance disbursements grew 68% YoY, with secured business loans within SBL seeing 32% YoY growth.
  • Gold loan portfolio aims to scale from approx. Rs. 1,000 crores to Rs. 1,600 crores by year-end, with enhanced distribution and branch expansion.
  • The Elite segment of deposits is expected to grow to double-digit by year-end, supporting retail deposit growth.

2 more points from Equitas Small Finance Bank Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Down 0–2%

See what Equitas Small Finance Bank Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The bank plans no Tier-1 capital raise in the current calendar year.
  • Possible Tier-1 capital raise of Rs.1,250 crores is being considered, likely in Q4 FY27 or Q1 FY28; an enabling resolution will be placed at the forthcoming AGM.
  • Capital conservation measures are being implemented to manage capital requirements.

2 more points from Equitas Small Finance Bank Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Equitas Small Finance Bank Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Gross advances stood at Rs. 47,641 crores, growing 27% YoY.
  • Disbursement growth was strong, with highest-ever Q1 disbursement of Rs. 6,784 crores.
  • Focus on branches expansion, loan book growth, and funding strategies.
Full Q1 FY27 analysis
Full Banks ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Banks
on management's own guidance

  1. AU Small FinanceGood growth
    2
  2. Canara BankGood growth
    1
  3. IDFC First BankGood growth
    3
See all potential multibaggersWhere does Equitas Small Finance Bank Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Banks companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Canara Bank20–40%Flat₹1.07L Cr5.3
2AU Small Finance20–40%Flat₹74,341 Cr26.0
3IDFC First Bank20–40%Flat₹67,332 Cr29.9
420–40%Flat₹58,716 Cr49.8
520–40%Flat₹13,576 Cr9.4
620–40%Flat₹6,759 Cr8.6

Sign up free to see every company in the sector ranking and track Equitas Small Finance Bank Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Banks ranking

Equitas Small Finance Bank Ltd announcements

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Financials of Equitas Small Finance Bank Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Equitas Small Finance Bank Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
FIIs +19.61%19.50%19.65%16.91%15.42%16.47%16.30%15.67%14.62%14.74%15.70%15.80%
DIIs +45.64%45.21%45.42%43.66%42.62%42.70%47.13%48.20%49.96%50.87%51.25%52.25%
Public +34.74%35.28%34.93%39.42%41.96%40.82%36.57%36.13%35.42%34.38%33.04%31.95%
No. of Shareholders3,61,7093,72,3043,81,6824,44,5444,57,3624,48,2614,33,8204,18,0504,05,8503,85,9713,69,4933,55,601

Financials of Equitas Small Finance Bank Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +1,3591,4291,4451,5011,5551,6121,6441,6491,6171,6921,8361,9602,066
Interest5936446596997537948158638448408569311,040
Expenses +6807157589741,0219671,0021,3759691,0279651,0411,030
Financing Profit867028-173-219-149-172-589-195-17615-11-4
Financing Margin %6%5%2%-12%-14%-9%-10%-36%-12%-10%1%-1%-0%
Other Income +181205240209239238225292229289263255292
Depreciation0000000000000
Profit before tax26727626836209053-29734114278244287
Tax %26%27%23%28%36%26%21%-25%28%21%24%25%24%
Net Profit +19820220826136642-2242490213184218
EPS in Rs1.771.791.830.230.110.580.37-1.960.210.791.861.611.91
Gross NPA %2.27%2.53%2.61%2.73%2.95%2.97%2.89%2.92%2.92%2.75%2.60%2.42%2.29%
Net NPA %0.97%1.13%1.17%0.83%0.97%0.96%0.98%0.98%0.98%0.92%0.72%0.71%0.70%

Financials of Equitas Small Finance Bank Ltd

Profit & Loss

Annual income statement trend

Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +64089811,5432,1122,6453,1943,4604,1625,4866,3126,7947,554
Interest21594606849641,1501,3961,4211,6172,4073,0603,4033,667
Expenses +172305619641,0151,3041,6282,1232,3612,6813,8164,1704,063
Financing Profit-1319-40-105133191170-84184399-564-779-176
Financing Margin %-208%5%-4%-7%6%7%5%-2%4%7%-9%-11%-2%
Other Income +0712332412832824185386707999111,0741,100
Depreciation05328892967675851341481670
Profit before tax-1385161493243775113787691,063199128924
Tax %0%0%36%34%35%35%25%26%25%25%26%20%
Net Profit +-138510432211244384281574799147103704
EPS in Rs-2.132.011.040.322.092.313.372.245.167.041.290.906.17
Dividend Payout %0%0%0%0%0%0%0%0%19%14%78%0%

Financials of Equitas Small Finance Bank Ltd

Balance Sheet

Capital structure and asset base

Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital614231,0061,0061,0061,0531,1391,2521,1111,1351,1401,1411,144
Reserves-132881,0061,0381,2481,6912,2572,9944,0474,8344,9334,9845,409
Deposits01,9215,6049,00710,78816,39218,95125,34836,12943,10246,53352,483
Borrowing441,6384,7795,1773,9735,1354,1652,6162,9741,7882,1375,7736,886
Other Liabilities +14655334855296287551,1341,4781,4181,5242,1802,525
Total Liabilities1052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83660,61068,446
Fixed Assets +411274280236210184189338537531527975
CWIP001512211141681651890
Investments001,8903,8572,3442,3433,7054,4506,6659,0659,28910,14912,246
Other Assets +1022,4037,0669,17213,18116,74020,81822,29727,91435,63442,85149,74655,225
Total Assets1052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83660,61068,446

Financials of Equitas Small Finance Bank Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-101-3361,3342131,7994402,044159-9983,8341,937-3,316
Cash from Investing Activity +-3-9-405-11-7-72-43-8949-360-239-185
Cash from Financing Activity +108168-563-28-1,706908-1,154-1,31760-1,2102593,641
Net Cash Flow4-177366173861,276847-1,246-8882,2641,957140
Free Cash Flow-106-3441,0411331,7513671,99568-1,2613,4741,698-3,501

Financials of Equitas Small Finance Bank Ltd

Ratios

Working capital efficiency and return ratios

Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %-49%12%8%2%10%10%13%7%12%14%2%2%

Guidance history

How Equitas Small Finance Bank Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%Down 0–2%PlannedPlanned—
Q4 FY26 call →20–40%Flat—Planned—
Q3 FY26 call →20–40%Up 0–2%—Planned—
Q2 FY26 call →10–20%FlatPlanned—Flat

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

18out of 100

Momentum score · price trend

18 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.9%55%
Last 6 months−14.5%28%
Last 3 months−21.2%14%

The price is 50.1% below its all-time high of ₹114.55 (5 Jan 2024). Stocks more than 20% below their peak have their score halved, so 36 became 18.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Equitas Small Finance Bank Ltd: 0.4 × 55 + 0.4 × 28 + 0.2 × 14 = 36, halved to 18 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Equitas Small Finance Bank Ltd's management said in earlier quarters

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