āagman

Equitas Small Finance Bank Ltd

NSE: EQUITASBNK
₹67.62
−₹2.42 (−3.46%)
NSE · 21 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹8,051 Cr
CMP
₹67.62
52-wk High / Low
₹84 / 51
P/E
15.8
P/B
1.3
Book Value
₹53.7
Div Yield
0.00%
ROCE
6.4%
ROE
2.0%
Face Value
₹10
D/E
8.54

Price+22.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 21 Oct 2026
How we compute these
Piotroski F-Score
1
/ 9
1 of 9 F-score tests passed
Graham Number
₹73
√(22.5 × EPS × book value per share)
Cash flow to profit
−32.19
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
2.0%
ROE × earnings retention ratio
ROE stability
4.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.10DII +1.00
Latest quarter vs the previous one
Cash-accrual divergence
6.0%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.1pp over the last year
+PE of 15.8x is below the sector median of 19.8x
Watch-outs
−Latest ROCE of 6.4% trails the sector median of 9.1%
−Borrowings are up 252.4% since FY2016 (1638 to 5773)
−Price trades below its 200-day moving average (1.0x)
−Piotroski F-Score of 1/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Standalone basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,2541,3591,4291,4451,5011,5551,6121,6441,6491,6171,6921,8361,960
Expenses6626807157589741,0219671,0021,3759691,0279651,041
Operating Profit—————————————
OPM %—————————————
Other Income171181205240209239238225292229289263255
Interest511593644659699753794815863844840856931
Depreciation0000000000000
Profit before tax25226727626836209053−29734114278244
Net Profit19119820220826136642−2242490213184
EPS (₹)1.721.771.791.830.230.110.580.37−1.960.210.791.861.61

Profit & Loss

As of 30 Jun 2026
Standalone · ₹ Cr · 12 years + TTM
Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales64089811,5432,1122,6453,1943,4604,1625,4866,3126,7947,106
Expenses172305619641,0151,3041,6282,1232,3612,6813,8164,1704,002
Operating Profit—————————————
OPM %—————————————
Other Income0712332412832824185386707999111,0741,037
Interest21594606849641,1501,3961,4211,6172,4073,0603,4033,471
Depreciation05328892967675851341481670
Profit before tax−1385161493243775113787691,063199128670
Net Profit−138510432211244384281574799147103510
EPS (₹)−2.132.011.040.322.092.313.372.245.167.041.290.904.47

Balance Sheet

As of 30 Jun 2026
Standalone · ₹ Cr
Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital614231,0061,0061,0061,0531,1391,2521,1111,1351,1401,141—
Reserves−132881,0061,0381,2481,6912,2572,9944,0474,8344,9334,984—
Other Liabilities14655334855296287551,1341,4781,4181,5242,180—
Total Liabilities1052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83660,610—
Fixed Assets411274280236210184189338537531527—
CWIP00151221114168165189—
Investments001,8903,8572,3442,3433,7054,4506,6659,0659,28910,149—
Other Assets1022,4037,0669,17213,18116,74020,81822,29727,91435,63442,85149,746—
Total Assets1052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83660,610—
Deposits0—1,9215,6049,00710,78816,39218,95125,34836,12943,10246,533—
Borrowing441,6384,7795,1773,9735,1354,1652,6162,9741,7882,1375,773—

Cash Flows

As of 31 Mar 2026
Standalone · ₹ Cr
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 Activity108168−563−28−1,706908−1,154−1,31760−1,2102593,641
Net Cash Flow4−177366173861,276847−1,246−8882,2641,957140

Ratios

As of 31 Mar 2026
12 periods
Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %———————————6.4
ROE %−49.012.08.02.010.010.013.07.012.014.02.02.0
EPS (₹)−2.132.011.040.322.092.313.372.245.167.041.294.47
Book Value (₹)———————————53.7
Face Value (₹)———————————10
P/E———————————15.8
Div Yield %———————————0.00
NPM %−216.717.78.61.88.88.310.67.011.912.72.01.3
OPM %————————————
D/E0.922.303.335.275.765.806.055.085.496.357.458.54
P/B———————————1.3

Growth

As of 18 Oct 2026
Compounded sales growth
10 years+32.0%
5 years+16.0%
3 years+18.0%
TTM+10.0%
Compounded profit growth
10 years+2.0%
5 years−23.0%
3 years−44.0%
TTM+598.0%
Stock price CAGR
5 years+2.0%
3 years−11.0%
Last year+25.0%
Return on equity
10 years8.0%
5 years7.0%
3 years6.0%
Last year2.0%

Shareholding pattern

As of 30 Sep 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters81.98%81.98%————————————
FIIs1.02%1.02%19.61%19.50%19.65%16.91%15.42%16.47%16.30%15.67%14.62%14.74%15.70%15.80%
DIIs12.77%12.77%45.64%45.21%45.42%43.66%42.62%42.70%47.13%48.20%49.96%50.87%51.25%52.25%
Government——————————————
Public4.23%4.23%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 shareholders76,30276,3023,61,7093,72,3043,81,6824,44,5444,57,3624,48,2614,33,8204,18,0504,05,8503,85,9713,69,4933,55,601
Change since Jun 2023 (pp)
FIIs +14.78DIIs +39.48Public +27.72

Documents

As of 18 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBoard Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30,2026Announcement under Regulation 30 (LODR)-Credit RatingAnnouncement under Regulation 30 (LODR)-Allotment of ESOP / ESPSCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026PPTMay 2026TranscriptMay 2026PPTMay 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025Recording

Corporate actions

As of 9 Aug 2024
9 Aug 2024DIVIDENDDividend - Rs 1 Per Share—
28 Jul 2023DIVIDENDDividend - Rs 1 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges.© 2026 āagman