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Union Bank of India Q2 FY27 Share Price & Earnings Call Analysis

₹183.20-1.51% today
Market cap
₹1.40L Cr
P/E
6.35
ROE
15.70%
PEG
0.20
Price to sales
1.28
Debt to equity
9.88
52W high / low
₹202 / ₹148
Sales growth (5Y)
9.03%
EBITDA margin
69.32%
Net profit margin
18.19%
Promoter holding
74.76%
Sales (last year)
₹1.09L Cr

Union Bank of India is engaged in the Business of Banking Services, Government Business ,Merchant Banking, Agency Business Insurance, Mutual Funds, Wealth Management etc.[1]

Guidance scorecard · Q2 FY27 call

What Union Bank (I)'s management guided
and where it ranks in Banks

#16of 28 in
Banks
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Credit growth: Bank experienced 7% growth in Q4; annualized implies substantial credit expansion.
  • Underwriting: INR60,000 to INR70,000 crores underwritten and being down-sold, indicating strong lending pipeline.
  • Aim to grow credit at industry rate plus 1%, targeting 12-14% credit growth, potentially exceeding 18-20% in MSME, agriculture, and retail segments.
  • Corporate sanctions over INR1,00,000 crores not yet disbursed, supporting future credit growth.
  • Deposit growth focus: Emphasis on sustaining CASA and retail term deposits; significant shedding of bulk deposits to improve efficiency.

2 more points from Union Bank (I)'s call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Union Bank (I) said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Structural changes in technology and operations under "Project Muskaan" which is yielding positive results.
  • Creation of a dedicated ecosystem banking vertical with 1,200+ personnel, 118 centers, and 12 hubs focused on relationship management.
  • Investments in digital and operational excellence, including cybersecurity, data privacy, and governance, as evidenced by awards from IIBF, TransUnion CIBIL, IBA, and Economic Times.
  • Implementation of EY and Oracle OFSA models to configure provisions and improve operational efficiency.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Union Bank (I) said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Corporate loan sanctions amount to over INR 1,00,000 crores that are sanctioned but not yet disbursed.
  • The corporate loan disbursement is happening in stages and is progressing steadily.
  • The bank aims to grow its credit by at least 1% higher than the industry growth rate.
  • Significant focus on sectors like corporate, MSME, agriculture, and retail with schemes like cluster and Agri Unnati to boost credit growth.
  • The credit growth in Q4 was around 7%, annualized, indicating a strong pipeline.

2 more points from Union Bank (I)'s call on the order book

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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 Finance Bank LtdGood growth
    2
  2. Canara BankGood growth
    1
  3. RBL BankGood growth
    3
See all potential multibaggersWhere does Union Bank (I) 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 Cr5.2
2AU Small Finance Bank Ltd20–40%Flat₹65,049 Cr22.8
3RBL Bank20–40%Flat₹54,486 Cr46.2
420–40%Flat₹27,663 Cr9.3
520–40%Flat₹12,690 Cr8.0
620–40%Flat₹6,206 Cr7.4

Sign up free to see every company in the sector ranking and track Union Bank (I).

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

Financials of Union Bank (I)

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

Shareholder Pattern

Union Bank (I)

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +76.99%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%
FIIs +3.97%6.75%7.37%6.89%6.46%7.11%7.70%7.86%8.14%9.37%8.63%9.40%
DIIs +12.28%12.24%11.38%11.22%11.94%11.63%11.93%11.70%11.91%11.51%11.97%11.63%
Public +6.76%6.25%6.50%7.12%6.85%6.50%5.60%5.67%5.21%4.36%4.64%4.19%
No. of Shareholders8,74,3099,14,9409,84,22910,19,06110,22,30010,41,2119,61,1739,55,8399,20,6039,07,9109,15,7878,83,170

Financials of Union Bank (I)

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue +24,73225,52126,51026,52726,88726,72027,86927,09926,20526,81926,67627,42728,378
Interest15,49816,23616,96617,00417,72017,35018,24517,85517,24717,37017,00517,20617,612
Expenses +7,9628,0129,3659,3678,6868,0969,6738,8449,0567,9948,7448,3888,410
Financing Profit1,2711,2731791564801,274-49400-981,4559271,8342,355
Financing Margin %5%5%1%1%2%5%-0%1%-0%5%3%7%8%
Other Income +4,2214,2815,1024,7995,9264,6146,2234,8695,5505,1835,9995,2335,094
Depreciation0000000000000
Profit before tax5,4925,5545,2814,9546,4065,8896,1755,2695,4536,6386,9267,0677,449
Tax %35%35%37%27%26%22%19%21%21%24%23%24%25%
Net Profit +3,5723,6253,3283,6424,7514,6235,0114,4284,4265,0735,5045,6425,781
EPS in Rs4.824.894.364.776.226.066.565.805.806.657.217.397.57
Gross NPA %
Net NPA %

Financials of Union Bank (I)

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +32,16432,31632,81732,95234,31437,47969,31168,23081,163100,376106,600106,799109,300
Interest23,64023,89423,77623,47123,89625,83744,11240,17848,03363,36468,91669,47769,193
Expenses +9,49810,34913,87121,18119,01921,16636,27032,26436,15532,42234,73833,43433,536
Financing Profit-973-1,928-4,830-11,700-8,601-9,523-11,071-4,213-3,0244,5902,9463,8886,571
Financing Margin %-3%-6%-15%-36%-25%-25%-16%-6%-4%5%3%4%6%
Other Income +3,9573,9345,4305,4625,0425,78914,30713,52415,91517,81321,56221,60121,508
Depreciation2252492413683744179087457458961,0841,2040
Profit before tax2,7591,758359-6,607-3,933-4,1512,3278,56612,14721,50723,42424,28428,079
Tax %36%24%-58%-21%-25%-27%-22%39%31%36%23%23%
Net Profit +1,7711,347573-5,212-2,922-3,1212,8635,2658,51213,79718,02719,43021,999
EPS in Rs27.6919.738.33-44.61-16.58-9.124.477.7012.4518.0723.6225.4528.82
Dividend Payout %22%10%0%0%0%0%0%25%24%20%20%20%

Financials of Union Bank (I)

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital6366876871,1691,7633,4236,4076,8356,8357,6347,6347,6347,738
Reserves19,26322,36123,40624,08325,07330,56758,33164,02671,96989,964106,200125,918136,443
Deposits325,990344,118377,195410,288417,505452,436925,6541,034,3681,120,3221,224,5931,274,7891,309,7591,322,310
Borrowing26,62830,63741,22645,68043,27652,71451,92251,24542,73726,97464,99277,798101,957
Other Liabilities +11,0489,56213,1679,90010,96416,36940,06337,29246,49552,83157,71466,39556,419
Total Liabilities383,566407,365455,681491,120498,581555,5091,082,3771,193,7661,288,3571,401,9961,511,3291,587,5031,624,866
Fixed Assets +2,6903,9393,8963,8243,7434,7347,3037,1718,8269,2249,76511,59611,651
CWIP413213444546337223659640
Investments85,81890,573113,441125,485128,391154,251339,059351,839343,727343,953361,903343,623348,774
Other Assets +295,053312,840338,322361,777366,402396,470735,952834,718935,7821,048,7831,139,6021,232,2201,264,441
Total Assets383,566407,365455,681491,120498,581555,5091,082,3771,193,7661,288,3571,401,9961,511,3291,587,5031,624,866

Financials of Union Bank (I)

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-3,56781-6,6246,097-7,778-7,68120,52736,3396,05619,930-204-358
Cash from Investing Activity +-318-9-280-315-297-377-601-558-2,561-1,394-19-71
Cash from Financing Activity +3,168-210,19410,7921,75820,144-18,861-786-10,654-11,48933877
Net Cash Flow-718703,28916,574-6,31712,0861,06634,995-7,1597,047115-351
Free Cash Flow-3,90972-6,9115,782-8,076-8,05819,92635,8973,67318,624-220-388

Financials of Union Bank (I)

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %9%6%2%-21%-11%-10%6%8%11%16%17%16%

Guidance history

How Union Bank (I)'s guidance has moved, call by call

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

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

37out of 100

Momentum score · price trend

37 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+25.1%76%
Last 6 months+13.6%71%
Last 3 months+6.9%78%

The price is 55.1% below its all-time high of ₹413.8 (22 Oct 2010). Stocks more than 20% below their peak have their score halved, so 75 became 37.

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 Union Bank (I): 0.4 × 76 + 0.4 × 71 + 0.2 × 78 = 75, halved to 37 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 2 Nov 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 Union Bank (I)'s management said in earlier quarters

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