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Equitas Small Finance Bank Ltd.
(EQUITASBNK)
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Rating:56Neutral
Price Target:
₹69.00
▲(3.03% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily constrained by the sharp profitability reset and weakening cash flow versus the prior year, despite continued strong revenue growth and improved leverage versus earlier periods. Technical indicators are neutral-to-soft in the near term, while valuation appears moderate based on the P/E.
Positive Factors
Strong Revenue Growth
Consistent revenue expansion indicates that Equitas is continuing to grow its banking franchise and customer activity despite profitability pressure. Sustained top-line momentum can support operating scale, broaden the earnings base, and provide a foundation for future margin recovery if costs and credit performance improve.
Negative Factors
Severe Margin Compression
The sharp decline in net margin shows that revenue growth is currently translating into far less bottom-line profit. Persistently weak profitability would limit retained capital generation, reduce flexibility for investment, and make the bank more sensitive to operating costs or credit-related pressure over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Consistent revenue expansion indicates that Equitas is continuing to grow its banking franchise and customer activity despite profitability pressure. Sustained top-line momentum can support operating scale, broaden the earnings base, and provide a foundation for future margin recovery if costs and credit performance improve.
Read all positive factors
Equitas Small Finance Bank Ltd. (EQUITASBNK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹76.54B
Dividend Yield1.27%
Average Volume (3M)223.64K
Price to Earnings (P/E)15.0
Beta (1Y)0.95
Revenue Growth9.24%
EPS GrowthN/A
CountryIN
Employees28,058
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)4.47
Shares Outstanding1,144,127,000
10 Day Avg. Volume202,121
30 Day Avg. Volume223,636
Financial Highlights & Ratios
PEG Ratio-1.90
Price to Book (P/B)0.97
Price to Sales (P/S)0.75
P/FCF Ratio7.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6.85
Revenue Forecast (FY)₹54.14B
Equitas Small Finance Bank Ltd. Business Overview & Revenue Model
Company Description
Equitas Small Finance Bank Limited delivers a comprehensive suite of banking and financial services to a diverse clientele, including individual customers, corporate entities, and micro, small, and medium-sized enterprises (MSMEs). The institution...
How the Company Makes Money
Equitas Small Finance Bank primarily makes money through traditional banking income streams. (1) Net interest income (NII): The bank earns interest on its loan book and other interest-earning assets and pays interest on customer deposits and borro...
Equitas Small Finance Bank Ltd. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
58
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 81.45B | 78.68B | 71.26B | 61.58B | 46.66B | 39.34B |
| Gross Profit | 41.80B | 33.28B | 40.66B | 37.52B | 30.48B | 25.13B |
| EBITDA | 6.70B | 2.95B | 3.47B | 11.98B | 8.53B | 4.53B |
| Net Income | 5.10B | 1.03B | 1.47B | 7.99B | 5.74B | 2.81B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 606.10B | 528.36B | 453.04B | 349.58B | 269.52B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 56.66B | 55.36B | 35.79B | 12.44B | 21.33B |
| Total Debt | 0.00 | 57.73B | 21.37B | 17.88B | 73.89B | 45.48B |
| Total Liabilities | -61.25B | 544.86B | 467.63B | 393.35B | 298.00B | 227.06B |
| Stockholders Equity | 61.25B | 61.25B | 60.73B | 59.69B | 51.58B | 42.46B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 7.76B | 16.92B | 34.70B | -12.63B | 667.13M |
| Operating Cash Flow | 0.00 | 9.69B | 19.37B | 38.34B | -9.98B | 1.59B |
| Investing Cash Flow | 0.00 | -79.01B | -2.39B | -3.60B | -2.61B | -890.90M |
| Financing Cash Flow | 0.00 | 70.72B | 2.59B | -12.10B | 601.13M | -13.17B |
Equitas Small Finance Bank Ltd. Technical Analysis
Negative
66.97
Price Trends
74.66
Negative
74.32
Negative
68.76
Negative
Market Momentum
-1.23
Positive
29.54
Positive
23.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EQUITASBNK, the sentiment is Negative. The current price of 66.97 is below the 20-day moving average (MA) of 72.55, below the 50-day MA of 74.66, and below the 200-day MA of 68.76, indicating a bearish trend. The MACD of -1.23 indicates Positive momentum. The RSI at 29.54 is Positive, neither overbought nor oversold. The STOCH value of 23.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EQUITASBNK.
Equitas Small Finance Bank Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹126.35B | 13.86 | ― | 3.38% | 15.87% | 70.88% | |
63 Neutral | ₹763.01B | 26.64 | ― | 0.10% | 14.96% | 30.22% | |
63 Neutral | ₹56.73B | 14.84 | ― | ― | 17.48% | -12.60% | |
56 Neutral | ₹76.54B | 15.00 | ― | 1.27% | 9.24% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹22.07B | -428.60 | ― | 1.39% | 10.82% | 99.22% | |
42 Neutral | ₹24.58B | -2.28 | ― | 0.83% | -12.04% | -121.91% |
* General Sector Average
IN:EQUITASBNK
Equitas Small Finance Bank Ltd.
66.90
10.00
17.57%
IN:AUBANK
AU Small Finance Bank Limited
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IN:ESAFSFB
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42.77
14.31
50.28%
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Jana Small Finance Bank Ltd
536.45
81.70
17.97%
IN:UJJIVANSFB
Ujjivan Small Finance Bank Ltd.
64.76
18.64
40.42%
IN:UTKARSHBNK
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13.81
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-22.37%
Equitas Small Finance Bank Ltd. Corporate Events
Equitas Small Finance Bank Names Sivaraman K Head-Operations in Senior Management Shuffle
Sep 7, 2026
Equitas Small Finance Bank has appointed veteran banker Mr. Sivaraman K as Head-Operations and designated him as Senior Management Personnel effective September 7, 2026. He succeeds Mr. Siby Sebastian, who will remain in senior management and move...
Equitas Small Finance Bank Denies ‘Nexus’ With Unico Housing Finance, Cites Full Regulatory Disclosures
Aug 18, 2026
Equitas Small Finance Bank has issued a detailed clarification following a Moneycontrol article suggesting the Reserve Bank of India had questioned a “nexus” between the bank and Unico Housing Finance. The lender stated that, apart fro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.