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ESAF Small Finance Bank Limited
(ESAFSFB)
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Rating:53Neutral
Price Target:
₹43.00
▲(67.45% Upside)
Action:Reiterated
Date:08/01/26
The score is held back primarily by weak financial performance—recent losses, declining equity, and a sharp rise in debt—despite a recovery-in-progress in cash flow. Technicals are a key offset, with the stock trading strongly above all major moving averages. Valuation remains constrained by negative earnings and no available dividend yield.
Positive Factors
Retail / inclusion-focused business model
A focused retail and inclusion strategy, delivered via branches and digital channels, creates a diversified, sticky customer base in underserved segments. That structural positioning supports steady loan demand and fee opportunities, underpinning durable core earnings and deposit access over months.
Negative Factors
Profitability deterioration
The shift to meaningful losses materially weakens retained earnings and reduces capacity to absorb credit shocks or fund organic growth. Persistent negative profitability limits capital generation, raises dependency on external funding, and elevates risk to long-term earnings recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Retail / inclusion-focused business model
A focused retail and inclusion strategy, delivered via branches and digital channels, creates a diversified, sticky customer base in underserved segments. That structural positioning supports steady loan demand and fee opportunities, underpinning durable core earnings and deposit access over months.
Read all positive factors
ESAF Small Finance Bank Limited (ESAFSFB) vs. iShares MSCI India ETF (INDA)
Market Cap
₹21.51B
Dividend Yield1.39%
Average Volume (3M)176.63K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth10.82%
EPS Growth99.22%
CountryIN
Employees8,797
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)-3.23
Shares Outstanding516,018,100
10 Day Avg. Volume46,814
30 Day Avg. Volume176,627
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.57
Price to Sales (P/S)0.24
P/FCF Ratio4.90
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)N/A
Revenue Forecast (FY)N/A
ESAF Small Finance Bank Limited Business Overview & Revenue Model
Company Description
Operating within India, ESAF Small Finance Bank delivers a broad spectrum of banking and financial solutions. Its offerings encompass various account types, including savings, current, and non-resident Indian (NRI) accounts, complemented by divers...
How the Company Makes Money
ESAFSFB primarily makes money through interest income and fee-based income generated from its banking operations.
1) Net interest income (core earnings):
- Lending interest: The bank earns interest on loans and advances extended to customers. Thi...
ESAF Small Finance Bank Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
52
Neutral
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 43.48B | 43.29B | 42.60B | 30.73B | 21.48B |
| Gross Profit | 15.70B | 25.19B | 28.11B | 20.55B | 13.55B |
| EBITDA | -1.63B | -6.34B | 6.21B | 4.48B | 875.06M |
| Net Income | -1.66B | -5.21B | 4.26B | 3.02B | 547.32M |
Balance Sheet | |||||
| Total Assets | 308.68B | 271.78B | 260.87B | 202.24B | 177.08B |
| Cash, Cash Equivalents and Short-Term Investments | 11.75B | 19.79B | 14.23B | 7.67B | 15.12B |
| Total Debt | 27.53B | 14.06B | 25.73B | 26.80B | 22.57B |
| Total Liabilities | 290.81B | 252.29B | 235.95B | 185.09B | 162.96B |
| Stockholders Equity | 17.87B | 19.49B | 24.92B | 17.15B | 14.12B |
Cash Flow | |||||
| Free Cash Flow | 2.09B | -3.85B | 7.94B | -6.42B | 5.34B |
| Operating Cash Flow | 4.92B | -2.32B | 8.65B | 8.79B | 5.88B |
| Investing Cash Flow | -52.18B | -7.69B | -5.83B | -5.73B | -9.82B |
| Financing Cash Flow | 39.21B | 15.57B | 54.37B | 22.50B | 50.74B |
ESAF Small Finance Bank Limited Technical Analysis
Neutral
25.68
Price Trends
38.65
Positive
33.38
Positive
29.76
Positive
Market Momentum
1.10
Positive
52.42
Neutral
34.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ESAFSFB, the sentiment is Neutral. The current price of 25.68 is below the 20-day moving average (MA) of 41.77, below the 50-day MA of 38.65, and below the 200-day MA of 29.76, indicating a neutral trend. The MACD of 1.10 indicates Positive momentum. The RSI at 52.42 is Neutral, neither overbought nor oversold. The STOCH value of 34.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ESAFSFB.
ESAF Small Finance Bank Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹125.54B | 13.81 | ― | 3.38% | 15.87% | 70.88% | |
63 Neutral | ₹800.72B | 27.86 | ― | 0.09% | 14.96% | 30.22% | |
63 Neutral | ₹56.85B | 14.78 | ― | ― | 17.48% | -12.60% | |
61 Neutral | ₹16.16B | 8.46 | ― | 0.99% | 21.20% | 139.21% | |
56 Neutral | ₹83.51B | 16.47 | ― | 1.27% | 9.24% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹21.51B | -416.00 | ― | 1.39% | 10.82% | 99.22% |
* General Sector Average
IN:ESAFSFB
ESAF Small Finance Bank Limited
41.69
12.60
43.31%
IN:AUBANK
AU Small Finance Bank Limited
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IN:EQUITASBNK
Equitas Small Finance Bank Ltd.
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40.03%
IN:JSFB
Jana Small Finance Bank Ltd
537.55
58.35
12.18%
IN:SURYODAY
Suryoday Small Finance Bank Limited
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23.23%
IN:UJJIVANSFB
Ujjivan Small Finance Bank Ltd.
64.43
20.24
45.80%
ESAF Small Finance Bank Limited Corporate Events
ESAF Small Finance Bank Posts Q1 FY2027 Investor Update
Jul 31, 2026
ESAF Small Finance Bank Limited has released an investor presentation covering its business and financial performance for the quarter ended June 30, 2026. The disclosure, shared with investors and analysts and posted on the bank’s website, i...
ESAF Small Finance Bank Posts Strong Q1 Growth in Deposits and Advances
Jul 2, 2026
ESAF Small Finance Bank reported robust growth for the quarter ended June 30, 2026, with total deposits rising 18.62% year-on-year to ₹26,925 crore despite a slight dip in the CASA ratio to 23.39%. The bank’s customer base expanded to ...
ESAF Small Finance Bank Announces New Chief Risk Officer and Head of Internal Audit
Jun 4, 2026
ESAF Small Finance Bank has overhauled two key leadership roles in its risk and audit functions, signaling a planned transition in its senior management. The board approved the appointment of G. Narasimha Murthy as Chief Risk Officer for a three-y...
ESAF Small Finance Bank Publishes FY 2026 Investor Presentation
May 1, 2026
ESAF Small Finance Bank has released an investor presentation detailing its audited standalone financial results for the fourth quarter and full financial year ended March 31, 2026. The materials, prepared for investors and analysts, cover the ban...
ESAF Small Finance Bank Publishes FY26 Audited Results in Leading Dailies
May 1, 2026
ESAF Small Finance Bank Limited has announced that its audited standalone financial results for the quarter and financial year ended March 31, 2026 have been published in leading newspapers, in line with its obligations as a listed entity. The res...
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.