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Utkarsh Small Finance Bank Ltd (UTKARSHBNK)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543942 NSE: UTKARSHBNK Bank - Private | Small Cap | Utkarsh Small Fin. Share Price

₹12.48 -0.34 (-2.65%)

As on 04-Jun'26 16:59

Utkarsh Small Finance Bank Ltd (UTKARSHBNK)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543942 NSE: UTKARSHBNK Bank - Private | Small Cap | Utkarsh Small Fin. Share Price

₹12.48 -0.34 (-2.65%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,221 Cr.
Current Price
₹12.5
52-Week Low / High
₹10 / 23
TTM EPS
₹-6.5
TTM Sales
₹3,379 Cr.
Book Value per Share
₹15.6
P/E Ratio
0.00
Lower than its 3-year historical median
Industry PE
17.2
Price to Book (P/B)
0.80
Lower than its 5-year historical median
EV/EBITDA
34.38
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.81%
Return on Capital Employed (ROCE)
3.97%
Net Interest Margin (NIM)
7.46%
Return on Assets (ROA)
0.09%
Growth Momentum
1-yr vs 3-yr growth
Deposit Growth (1 Year)
Slowing versus 3-year growth rate
23.42%
Net Interest Income Growth (1 Year)
Slowing versus 3-year growth rate
7.27%
Book Value Growth (1 Year)
Slowing versus 3-year growth rate
-0.88%
Asset Quality
CASA
21.8%
Gross NPA(%)
9.43%
Net NPA(%)
4.84%
Cost to Income Ratio
61.61%
Cost of Liabilities
7.28%
Reserves
₹996 Cr.
Equity
₹1,779.5 Cr.
Face Value
₹10
All Time Low / High
₹10.15 / 57.93

Utkarsh Small Finance Bank stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Fair

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Price Trend

Semi Strong
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Q.1 Is Utkarsh Small Finance Bank Ltd a good quality company?
Utkarsh Small Finance Bank Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Total Income growth, NIM, PPOP, RoA and RoE compared to its last 5-year median.

  • How efficiently has it grown and managed operations?

    By checking its Total Asset growth and Cost-to-Income ratio.

  • How strong is its Capital position and Asset Quality?

    By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.

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How does Utkarsh Small Finance Bank Ltd performance compare with that of its Peers?
Q.1 AUM Growth of Utkarsh Small Finance Bank Ltd vs Industry Peers?
Utkarsh Small Finance Bank Ltd AUM CAGR is 24.5%, compared to the 5-year industry median CAGR of 13.65%, indicating faster growth and gaining its market share.
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Q.1 Promoter shareholding and pledge status of Utkarsh Small Finance Bank Ltd?
Promoters hold 42.67% of the Utkarsh Small Finance Bank Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Utkarsh Small Finance Bank Ltd over the last decade?
Over the last 1 years, the stock has delivered a CAGR of -34.17% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Utkarsh Small Finance Bank Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Net Interest Income (₹ Cr.)042.62674997288391,0611,5291,8862,0231,477
YoY Gr. Rt. %-NA527.8%86.5%46%15.3%26.4%44.1%23.3%7.3%-
Total Income090.25629391,4061,7252,0342,8043,5794,3653,810
YoY Gr. Rt. %-NA522.9%67.1%49.8%22.7%17.9%37.9%27.6%22%-
Adj EPS (₹ ) 00.1-1.11.12.11.10.63.83.80.2-6.5
YoY Gr. Rt. %-NA-914.3%NA93.5%-46.4%-48.2%560.3%0.3%-95.3%-
BVPS (₹ )08.67.48.911.413.714.918.822.822.615.6
YoY Gr. Rt. %-NA-13.8%19.6%28.1%20.1%8.5%26.5%21.3%-0.9%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ
Net Profit/Total Funds (%)00.2-1.81.72.410.52.42.30.1-4
To view Net NPA to Net Advances (%) Colour Rating Guide click here ⓘ
Net NPA to Net Advances (%)001.10.10.21.32.30.404.83.3
To view Capital Adequacy Ratio (%) Colour Rating Guide click here ⓘ
Capital Adequacy Ratio (%)-----------

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Net Interest IncomeNA22.7%24%7.3%
Total IncomeNA25.4%29%22%
Adj EPSNA-38.8%-32.3%-95.3%
BVPSNA14.7%15%-0.9%
Share Price - - - -38.2%

Key Financial Ratios

RATIOS \ YEARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Interest Earned / Total Income096.3292.2293.8292.9991.6490.9189.3388.8186.2688.7
Margins To view Margins Colour Rating Guide click here ⓘ
NIM (%)01.76.28.387.27.38.38.27.55.1
Performance Ratios To view Performance Ratios Colour Rating Guide click here ⓘ
Return on Equity (%)01.6-17.615.920.89.44.222.820.20.8-41.5
Liquidity Ratio To view Liquidity Ratio Colour Rating Guide click here ⓘ
CASA (%)03.45.31013.517.722.420.920.521.8-

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Income +905629391,4061,7252,0342,8043,5794,365
Interest Income 875188811,3081,5811,8492,5053,1783,765
Other Income ⓘ 3445899144185299400600
Expenditure +794867091,0561,2871,5221,9662,5813,358
Interest Expense 442513825797427889761,2931,742
Operating Expenses 352363264765457349901,2891,616
Provisions417081101268432303338979
Profit Before Tax7-951502491518053665928
Taxes 2-32566240181311624
Profit After Tax 5-63941871126140549824
Adjusted EPS (₹)0.14-1.141.082.091.120.583.833.840.18
Dividend Payout Ratio (%)0%0%0%0%0%0%0%11.10%0%

Valuation of Utkarsh Small Fin. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Share Capital ⓘ 3004707377598488968961,0991,102
Total Reserves ⓘ 5-58362605206701,0861,8521,829
Deposits192,1943,7915,2357,50810,07413,71017,47321,566
Borrowings ⓘ 2,2891,7891,4302,6752,6082,5722,3491,9952,355
Minority Interest000000000
Other Liabilities 631292454756548521,0751,4831,276
Total Liabilities ⓘ 2,6754,5246,2399,40412,13815,06419,11723,90328,127

Assets

Balance with RBI 422061581922751,7981,1921,2472,638
Balance with Banks1503633591,422895741,3241,781798
Investments ⓘ 7296618621,1922,3142,3482,8593,6794,958
Advances 1,5943,1024,6686,2828,21710,22813,06916,36518,716
Net Block ⓘ 168787110125286301301324
Other Assets139105102185256330369519630
Total Assets ⓘ 2,6754,5246,2399,40412,13815,06419,11723,90328,127

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ 15905218115-831,3291,573991876
Cash Flow From Investing Activity ⓘ -471-199-176-322-532-739-693-620-777
Cash Flow From Financing Activity ⓘ 514-330-941,304172111-235140310
Net Cash Flow ⓘ 59377-521,097-444702645511409

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Operational & Financial Ratios
EPS (₹)0.20-1.301.302.501.300.704.504.500.20
DPS (₹)00000000.500
BVPS (₹)10.28.810.513.416.117.522.126.926.6

Margin Ratios

Yield on Advances (%)5.516.718.920.819.218.119.219.420.1
Yield on Investments (%)1.55.86.98.07.16.55.25.75.9
Cost of Liabilities (%)1.96.37.37.37.36.26.16.67.3
NIM (%)1.76.28.38.07.27.38.38.27.5
Interest Spread (%)3.510.411.613.511.911.813.112.812.8

Performance Ratios

ROA (%)0.2-1.81.72.41.00.52.42.30.1
ROE (%)1.6-17.615.920.89.44.222.820.20.8
ROCE (%)2.04.113.614.110.87.217.117.84.0

Efficiency Ratios

Cost to Income Ratio (%)76.075.758.657.655.458.954.256.461.6
Operating Costs to Assets (%)1.35.25.25.14.54.95.25.45.7

Valuation Parameters

Price/Book(x)0.00.00.00.00.00.00.01.80.8

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Utkarsh Small Finance Bank Ltd FAQs

The current trading price of Utkarsh Small Fin. on 04-Jun-2026 16:59 is ₹12.48.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Utkarsh Small Fin. stood at ₹2,220.9 Cr

The latest P/E ratio of Utkarsh Small Fin. as of 03-Jun-2026 is 0.00.

The latest P/B ratio of Utkarsh Small Fin. as of 03-Jun-2026 is 0.80.

The 52-week high of Utkarsh Small Fin. is ₹22.75 and the 52-week low is ₹10.15.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Utkarsh Small Fin. is ₹3,379 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Utkarsh Small Finance Bank Ltd is a average quality company.

The key valuation ratios of Utkarsh Small Finance Bank Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Utkarsh Small Finance Bank Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Utkarsh Small Finance Bank Ltd

Utkarsh CoreInvest Limited, its Promoter was granted the RBI In-Principle Approval to establish an SFB on October 7, 2015. The Bank was incorporated as ‘Utkarsh Small Finance Bank Limited’ on April 30, 2016 at Varanasi, Uttar Pradesh, as a public limited company under the Companies Act, 2013 and was granted a certificate of incorporation by the Registrar of Companies, Central Registration Centre. The Bank was thereafter granted the RBI Licence to carry on business as an SFB on November 25, 2016.

It is led by its Managing Director and chief executive officer, Mr Govind Singh, who has many years of experience in the banking and financial services sector. Its Board comprises of individuals having diverse experience across industries and its Independent Directors provide strategic guidance to help improve and grow its operations. Its senior management team has significant experience in the banking and financial services industry.

It is an SFB in India and recorded the fastest Gross Loan Portfolio. Its Promoter, Utkarsh CoreInvest Limited, commenced its operations as a NBFC in Fiscal 2010 and was focused on providing microfinance to unserved and underserved segments and in particular in the states of Uttar Pradesh and Bihar. Its headquarters located in Varanasi, Uttar Pradesh and has over the years expanded its SFB operations strategically in States where it have been able to leverage the prior microfinance experience of Utkarsh CoreInvest Limited.  On October 7, 2015, Utkarsh CoreInvest Limited received the RBI In-Principle Approval to establish an SFB, following which it incorporated Utkarsh Small Finance Bank Limited as a wholly-owned subsidiary on April 30, 2016. Subsequent to it obtaining the RBI Licence on November 25, 2016, to establish and carry-on business as an SFB, Utkarsh CoreInvest Limited transferred its business of providing microfinance, as a going concern to its Bank, which commenced its operations from January 23, 2017. It was included in the second schedule to the RBI Act as a scheduled commercial bank pursuant to a notification dated October 4, 2017 issued by the RBI and published in the Gazette of India (Part III - Section 4) dated November 7, 2017.

Business area of the Bank 

The Bank engaged in providing banking and financial services.

Products of the Bank

  • Accounts
  • Cards
  • Term Deposits
  • Loans
  • Insurance & Investments
  • Remittance

Awards and accreditations

  • 2018: Award for ‘Implementing Outstanding Initiatives’ in the category of Effective Grievance Redressal Systems at the MFIN Microfinance Awards
  • 2018: In Pursuit of Excellence.
  • 2019: Winner in the category of ‘Descriptions of Social Impact Initiatives’ at the 5th Eastern India Microfinance Summit 2019.
  • 2019: Excellence award at the MiNE India 2019: Microfinance & NBFCs Exhibition cum Conference.
  • 2021: Recognition as the ‘Best Brand 2021’ by The Economic Times.
  • 2021: Ranked 3rd in the AmbitionBox Best Places to Work in India 2021 in the Medium Banking Companies Category.
  • 2021: Recognition as ‘Best Bank’ in the small finance bank category for Fiscal 2020 by the 25th BTKPMG annual survey.
  • 2022: Recognition as ‘Paragon of Branding Excellence’ and award for ‘Brand of the Year 2022’ by Marksmen Daily.
  • 2022: Award for ‘Best IT Risk and Cyber Security Initiatives’ at the Indian Banks’ Association Banking Technology Awards 2021.
  • 2022: Recognition by Fortune India as ‘Next 500 Companies 2022’.
  • 2022: Recognition as one of the ‘Promising Brands 2022’ by Economic Times.
  • 2022: Ranked 3rd in Best Financiers in India - under the Small Finance Banks category, ranked 3rd by Fortune India for Fiscal 2021 and nine months ended December 31, 2021.
  • 2022: Special award in the payments and small finance banks category for Best IT Risk Management at the 18th Indian Banking Association Annual Banking Technology Conference and Awards 2021-22.
  • 2022: Exemplary award of par excellence from the PFRDA for ‘Beat the Best & Be the Best’ (May 9 - June 30, 2022).
  • 2022: Awarded the ‘Exemplary Performance Award’ for integrated water management under GRIHA rating by GRIHA Council.
  • 2022: Recognition as ‘2nd Best Bank’ in the small finance bank category for Fiscal 2022 by the 27th BT- KPMG survey of India’s best banks and fintech companies. 

History and milestones

  • 2017: Commenced its banking operations.
  • 2017: Launched its mobile banking and internet banking facilities.
  • 2018: Launched its wholesale lending business and personal loans.
  • 2018: Launched its asset business through business correspondents.
  • 2018: Its deposit base crossed Rs 20,000 million.
  • 2018: Its gross advances crossed Rs 30,000 million.
  • 2018: Launched bancassurance business with partners.
  • 2018: Increase in savings accounts and active loan clients to over 200,000 and 2,000,000 respectively.
  • 2018: Launched bill payment services.
  • 2019: Launched cashless disbursements for microfinance loans.
  • 2019: Conversion of microfinance branches to Banking Outlets.
  • 2020: Its deposit base crossed Rs 50,000 million.
  • 2020: It crossed 500 banking outlets.
  • 2020: Launched micro-banking business and two-wheeler loans.
  • 2020: Its customer base crossed 2.50 million.
  • 2021: Launched digital on-boarding of accounts.
  • 2021: Launched non-fund based facility and working capital loans.
  • 2022: Opened branches in Andhra Pradesh, Tamil Nadu, Karnataka and Kerala.
  • 2022: Launch of green PIN initiative at Micro ATMs as replacement for physical PIN mailers.
  • 2022: Launch of white label payment gateway.
  • 2022: Launch of collection current account and escrow bank account products.
  • 2022: Launch of Utkarsh UPI application.
  • 2022: It reached 686 banking outlets.
  • 2022: Crossed one million debit card issuances.
  • 2022: Appointed as corporate agent by Bharti AXA Life Insurance Company Limited, Kotak Mahindra General Insurance Company Limited and Aditya Birla Health Insurance Company Limited for soliciting insurance policies.
  • 2022: Launched brown label ATM services.
  • 2022: On-boarded Finnable Technologies Private Limited as a business correspondent.
  • 2022: Launched Atal Pension Yojana at its Bank.
  • 2022: Its deposit base crossed Rs 100,000 million.
  • 2022: Shifting of registered office to Utkarsh Tower, NH - 31 (Airport Road), Sehmalpur, Kazi Sarai, Harhua, Varanasi, 221 105, Uttar Pradesh, India, a
  • property owned by its Bank.
  • 2023: Crossed 800,000 customers on-boarded through digital onboarding.
  • 2023: Launch of ‘Utkarsh Gold Loan’, a secured gold loan product.
  • 2023: Launch of UPI-LITE - on-device wallet functionality for UPI users.
  • 2023: On-boarded Moneyboxx Finance Limited as a business correspondent.
  • 2023: Appointed as corporate agent by Future Generali India Insurance Company Limited.
  • 2023: Launch of facility for cashless disbursement of JLG loan to clients.
  • 2023: Launch of facility for cashless collection of JLG loan instalments.
  • 2023: Partnership with ICICI Securities Limited for 3-in-1 accounts comprising demat, online trading and savings account.
  • 2023: Empanelment by Government of Chhattisgarh for deposit of government amounts in commercial banks.
  • 2023: Empanelment by Government of Maharashtra for disbursement of salary and allowances to government employees and for providing pension to pensioners.

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