Suryoday Small Finance Bank Ltd - Stock Valuation and Financial Performance

BSE: 543279 | NSE: SURYODAY | Bank - Private | Small Cap

Suryoday Small Finan Share Price

160.90 -2.55 -1.56%
as on 28-Mar'24 15:26

DeciZen - make an informed investing decision on Suryoday Small Finan

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Suryoday Small Finance Bank stock performance -

mw4me loader
P/E Ratio (SA):
8.95
Market Cap:
1,735.9 Cr.
52-wk low:
90.4
52-wk high:
204.1

Is Suryoday Small Finance Bank Ltd an attractive stock to invest in?

1. Is Suryoday Small Finance Bank Ltd a good quality company?

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

2. Is Suryoday Small Finance Bank Ltd undervalued or overvalued?

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

3. Is Suryoday Small Finance Bank Ltd a good buy now?

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

10 Year X-Ray of Suryoday Small Finan:

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.
Suryoday 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Net Interest Income (₹ Cr.)2955.5104138164339491411584747902
YoY Gr. Rt. %-91.1%87.4%33.1%18.3%106.9%44.8%-16.3%42.4%27.7%-
Total Income61.51182002553255978548531,0351,2811,662
YoY Gr. Rt. %-92.4%69.1%27.4%27.5%83.7%43.1%-0.2%21.5%23.7%-
Adj EPS (₹ ) 3.35.17.22.41.510.612.81.1-8.87.318.3
YoY Gr. Rt. %-54.9%40.1%-67%-36.4%607.3%20.7%-91.3%-882.1%NA-
BVPS (₹ )32.739.851.37879.5107.4122.3149.5140.9148.5164.1
YoY Gr. Rt. %-22%28.8%51.9%1.9%35.1%13.9%22.2%-5.8%5.4%-
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%)2.22.92.81.10.52.92.40.2-1.30.91.7
To view Net NPA to Net Advances (%) Colour Rating Guide click here
Net NPA to Net Advances (%)0003.81.90.40.64.761.61.4
To view Capital Adequacy Ratio (%) Colour Rating Guide click here
Capital Adequacy Ratio (%)-----------

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Net Interest Income43.4%35.5%15%27.7%
Total Income40.1%31.6%14.5%23.7%
Adj EPS9.3%37.3%-17%NA
BVPS18.3%13.3%6.7%5.4%
Share Price - - -16.5% 74.4%

Key Financial Ratios

RATIOS \ YEARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Interest Earned / Total Income93.193.4699.3999.5588.2988.7989.7691.0490.9692.488.6
Margins To view Margins Colour Rating Guide click here
NIM (%)7.77.8997.89.49.56.47.57.98.1
Performance Ratios To view Performance Ratios Colour Rating Guide click here
Return on Equity (%)10.115.416.74.3212.311.50.9-65.111.1
Liquidity Ratio To view Liquidity Ratio Colour Rating Guide click here
CASA (%)0008.31111.311.515.518.817.1-

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 11.70%

Total Income has increased 14.47 CAGR in last 3 years

Net NPA to Net Advances has declined versus last 3 years average

Total income growth is good in last 4 quarters

Net Profit has declined -17.02 CAGR in last 3 years

Latest Financials - Suryoday Small Finance Bank Ltd.

Standalone Consolidated
TTM EPS (₹) 18.3 -
TTM Sales (₹ Cr.) 1,473 -
BVPS (₹.) 164.1 -
Reserves (₹ Cr.) 1,637 -
P/BV 1.00 -
PE 8.95 -
From the Market
52 Week Low / High (₹) 90.40 / 204.10
All Time Low / High (₹) 77.20 / 295.95
Market Cap (₹ Cr.) 1,736
Equity (₹ Cr.) 106.2
Face Value (₹) 10
Industry PE 19.3

Management X-Ray of Suryoday Small Finan:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *37.9737.9737.9737.9737.9725.4325.4325.4322.4522.45
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Suryoday Small Finan

Adj EPS (Rs.)

Total Income (Cr.)

ROE (%)

BVPS (Rs.)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Income 611182002553255978548531,0351,281
Interest Income 571111992542875307677769421,184
Other Income 4811386787769497
Expenditure 531011732403155107438411,1281,203
Interest Expense 285595115123191276366357437
Operating Expenses 193559102131194272329413507
Provisions611192360126195146358260
Profit Before Tax132542241613815412-127101
Taxes 49149652430-3423
Profit After Tax 9172715108711112-9378
Adjusted EPS (₹)3.305.117.162.361.5010.6112.811.12-8.767.32
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Share Capital 27333864678287106106106
Total Reserves 61981584364697949731,4811,3901,470
Minority Interest0000000000
Deposits000227501,5932,8493,2563,8545,167
Borrowings 1112989561,0227181,1241,2651,6672,5512,765
Other Liabilities 2013284061160168192203279353
Total Liabilities 4007571,1931,6042,1643,7615,3656,7128,1809,861

Assets

Balance with RBI 00227314861103607784
Balance with Banks7516717110717622877749437049
Investments 1105943116648081,8742,0582,570
Advances 3025449838201,5752,6803,5323,9834,7516,015
Net Block 12261318303566163
Other Assets2143354957122148216279278
Total Assets 4007571,1931,6042,1643,7615,3656,7128,1809,861

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -71-144-350-231458-548526-876-347-98
Cash Flow From Investing Activity 43-2-158-84-14-167-280-158-266
Cash Flow From Financing Activity 79214399350-285658210915885213
Net Cash Flow 117247-398897569-241381-150
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Operational & Financial Ratios

EPS (₹)3572211131-97
DPS (₹)0000000000
BVPS (₹)3340517879107122150141148

Margin Ratios

Yield on Advances (%)19.020.320.231.018.219.821.719.519.819.7
Yield on Investments (%)0.00.01,159.81.68.05.77.44.95.14.5
Cost of Liabilities (%)25.418.59.911.08.47.06.77.45.65.5
NIM (%)7.77.89.09.07.89.49.56.47.57.9
Interest Spread (%)-6.41.810.319.99.812.715.012.114.214.2

Performance Ratios

ROA (%)2.22.92.81.10.52.92.40.2-1.30.9
ROE (%)10.115.416.74.32.012.311.50.9-6.05.1
ROCE (%)20.725.617.310.48.215.111.55.00.16.3

Efficiency Ratios

Cost to Income Ratio (%)56.455.956.072.965.147.747.167.560.960.0
Operating Costs to Assets (%)4.74.74.96.46.15.25.14.95.15.1

Valuation Parameters

Price/Book(x)0.00.00.00.00.00.00.01.80.60.6

Suryoday Small Finance Bank Ltd Stock News

Suryoday Small Finance Bank Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Suryoday Small Finan on 28-Mar-2024 15:26 is ₹160.9.
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 28-Mar-2024 15:26 the market cap of Suryoday Small Finan stood at ₹1,735.9.
The latest P/E ratio of Suryoday Small Finan as of 28-Mar-2024 15:26 is 8.95.
The latest P/B ratio of Suryoday Small Finan as of 28-Mar-2024 15:26 is 1.00.
The 52-week high of Suryoday Small Finan is ₹204.1 and the 52-week low is ₹90.40.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suryoday Small Finan is ₹1,473 ( Cr.) .

About Suryoday Small Finance Bank Ltd

The bank was among the leading Small Finance Banks (SFBs) in India in terms of net interest margins, return on assets, yields and deposit growth. It has for over a decade been serving customers in the unbanked and underbanked segments in India and promoting financial inclusion. The bank commenced its microfinance operations in 2009 and has since expanded its operations across several states and union territories. Its delivery platform also includes partnering with business correspondents (BCs) for sourcing both asset and liability business and has expanded its network and presence through their reach to promote financial inclusion. It has arrangements with various payment banks in India and has been able to leverage its relationship with such payment banks to grow its deposit base. Its distribution network also comprises its ATMs, phone banking, mobile banking, tablet banking, unified payment interface, CSPs, and internet banking services.

Business area of the bank 

The bank currently offers a variety of asset and liability products and services designed for inclusive finance and general banking customers. Its asset products consist of its inclusive finance portfolio (comprising loans to JLG customers), commercial vehicle loans, affordable housing loans, micro business loans, unsecured micro and small enterprise and small and medium enterprise loans, secured business loans, financial intermediary group loans and other loans. The bank has leveraged the use of technology across all aspects of its operations. In particular, it uses digital technology for customer acquisition and also customer lifecycle management. Its employees use tablets to service customers in the unbanked and underbanked segments which has led to greater customer convenience and improved operational efficiency. It also has a robust back-end operating system supported by its core banking system and document management system.

Major events and milestones

  • 2008: Incorporation of Suryoday Micro Finance, founded and promoted by Baskar Babu Ramachandran, Ganesh Rao and V. L. Ramakrishnan.
  • 2009: Received RBI license for establishing an NBFC and commenced microfinance operations.
  • 2009: Investment by Aavishkaar Goodwell India Micro Finance Development Company Limited in Bank.
  • 2012: Investment from HDFC Holdings Limited and HDFC Standard Life Insurance Company Limited in Bank.
  • 2013: Investment by Lok Capital II LLC in Bank.
  • 2014: Investment by IFC in Bank.
  • 2014: Received listing permission from BSE in wholesale debt segment to issue debt securities.
  • 2015: We became a public limited company in June 2015.
  • 2015: 159 branches and 0.49 million customers as on March 31, 2015.
  • 2015: Received in-principle approval from RBI to establish an SFB.
  • 2015: Investment by DWM (International) Mauritius in Bank.
  • 2016: Received RBI final Approval to commence its SFB operations.
  • 2017: Commenced operations as an SFB in January 2017.
  • 2017: Included in second schedule to the RBI Act.
  • 2018: A new cluster of retail assets to provide finance for commercial vehicles, housing, MSME and loan against property upon initiating SFB operations.
  • 2019: Investments by DEG in Bank.
  • 2020: Investments by Kotak Mahindra Life Insurance Company Limited and Teachers Insurance and Annuity Association of America in Bank.
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