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Suryoday Small Finance Bank Limited
(SURYODAY)
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Rating:61Neutral
Price Target:
₹152.00
▼(-21.08% Downside)
Action:Reiterated
Date:07/29/26
The score is driven primarily by improving financial performance versus prior loss years, but capped by volatility in margins and uneven cash generation. Valuation is a clear positive with a low P/E and modest yield, while technicals are mixed with near-term weakness (below 20D/50D) but better long-term support (above 100D/200D).
Positive Factors
Revenue and earnings turnaround
Strong revenue expansion and three consecutive years of rising net income indicate that the bank has materially improved its operating scale after earlier losses. Continued growth can strengthen franchise economics, support investment in branches and digital channels, and improve earnings capacity over the next several quarters.
Negative Factors
Volatile and compressing margins
Margin compression after the FY2024 peak shows that revenue growth has not translated into consistently stable profitability. Persistent spread or cost pressure could limit earnings conversion, reduce the benefit of operating scale, and make medium-term results more sensitive to changes in the lending environment.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings turnaround
Strong revenue expansion and three consecutive years of rising net income indicate that the bank has materially improved its operating scale after earlier losses. Continued growth can strengthen franchise economics, support investment in branches and digital channels, and improve earnings capacity over the next several quarters.
Read all positive factors
Suryoday Small Finance Bank Limited (SURYODAY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.32B
Dividend Yield1.02%
Average Volume (3M)15.39K
Price to Earnings (P/E)8.1
Beta (1Y)1.09
Revenue Growth21.20%
EPS Growth139.21%
CountryIN
Employees8,574
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)18.05
Shares Outstanding106,289,825
10 Day Avg. Volume11,891
30 Day Avg. Volume15,395
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)0.64
Price to Sales (P/S)0.53
P/FCF Ratio2.31
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)27.95
Revenue Forecast (FY)₹19.31B
Suryoday Small Finance Bank Limited Business Overview & Revenue Model
Company Description
Suryoday Small Finance Bank Limited (Suryoday SFB) operates as an Indian small finance bank with a core mission of advancing financial inclusion by reaching out to previously unbanked and underserved populations. The bank organizes its operations ...
How the Company Makes Money
Suryoday Small Finance Bank makes money primarily through (1) interest income from lending and investments and (2) fee and other non-interest income from banking services.
1) Net interest income (core earnings):
- Interest on loans: The bank earn...
Suryoday Small Finance Bank Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
57
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.86B | 25.20B | 21.71B | 18.08B | 12.81B | 10.35B |
| Gross Profit | 14.90B | 12.74B | 13.23B | 11.82B | 8.44B | 6.78B |
| EBITDA | 2.86B | 2.67B | 1.99B | 3.39B | 1.44B | -1.08B |
| Net Income | 1.92B | 1.52B | 1.15B | 2.16B | 776.91M | -930.32M |
Balance Sheet | ||||||
| Total Assets | 202.04B | 198.84B | 156.14B | 123.78B | 98.61B | 81.80B |
| Cash, Cash Equivalents and Short-Term Investments | 16.04B | 20.99B | 17.09B | 11.80B | 8.33B | 9.78B |
| Total Debt | 26.41B | 31.22B | 27.10B | 36.54B | 27.65B | 33.81B |
| Total Liabilities | 180.48B | 178.06B | 136.87B | 105.73B | 82.76B | 66.75B |
| Stockholders Equity | 21.56B | 20.78B | 19.27B | 18.05B | 15.85B | 15.05B |
Cash Flow | ||||||
| Free Cash Flow | -8.57B | 5.77B | -16.59B | 3.27B | -1.90B | -4.38B |
| Operating Cash Flow | -8.26B | 6.52B | -14.82B | 3.83B | -977.00M | -3.47B |
| Investing Cash Flow | -3.14B | -7.92B | -10.59B | -2.63B | -2.66B | -1.58B |
| Financing Cash Flow | 8.66B | 4.12B | 30.71B | 22.89B | 15.26B | 14.79B |
Suryoday Small Finance Bank Limited Technical Analysis
Negative
192.60
Price Trends
155.00
Negative
163.82
Negative
149.89
Negative
Market Momentum
-2.85
Negative
45.31
Neutral
36.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SURYODAY, the sentiment is Negative. The current price of 192.6 is above the 20-day moving average (MA) of 147.76, above the 50-day MA of 155.00, and above the 200-day MA of 149.89, indicating a bearish trend. The MACD of -2.85 indicates Negative momentum. The RSI at 45.31 is Neutral, neither overbought nor oversold. The STOCH value of 36.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SURYODAY.
Suryoday 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 | ₹127.42B | 14.26 | ― | 3.38% | 15.87% | 70.88% | |
63 Neutral | ₹51.11B | 13.82 | ― | ― | 17.48% | -12.60% | |
61 Neutral | ₹15.32B | 8.14 | ― | 1.02% | 21.20% | 139.21% | |
56 Neutral | ₹78.43B | 15.28 | ― | 1.27% | 9.24% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹22.41B | -431.80 | ― | 1.39% | 10.82% | 99.22% | |
42 Neutral | ₹23.95B | -2.19 | ― | 0.83% | -12.04% | -121.91% |
* General Sector Average
IN:SURYODAY
Suryoday Small Finance Bank Limited
146.80
-0.25
-0.17%
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Suryoday Small Finance Bank Limited Corporate Events
Suryoday Small Finance Bank announces board and key managerial changes
Aug 9, 2026
Suryoday Small Finance Bank has announced the retirement of non-executive independent director John Arunkumar Diaz, who completed his second term and stepped down upon turning 75, in line with the Banking Regulation Act and Reserve Bank of India g...
Suryoday Small Finance Bank Gets Shareholder Nod on All AGM Resolutions
Aug 6, 2026
Suryoday Small Finance Bank Limited announced that all resolutions proposed at its 18th Annual General Meeting on August 6, 2026, were approved by shareholders with the requisite majority via remote e-voting and electronic voting during the meetin...
Suryoday Small Finance Bank Details AGM Proceedings and Voting Compliance
Aug 6, 2026
Suryoday Small Finance Bank Limited operates as a small finance bank based in Navi Mumbai, Maharashtra, focusing on providing banking and financial services to retail and small business customers. The listed entity trades under the symbol SURYODAY...
Suryoday Small Finance Bank Posts Strong Q1 FY27 Growth with Profits Doubling
Jul 23, 2026
Suryoday Small Finance Bank reported strong unaudited results for the quarter ended June 30, 2026, with gross advances rising 32.5% year-on-year to Rs. 14,376 crore and deposits up 29.4% to Rs. 14,634 crore. Disbursements grew 30.6%, supported by ...
Suryoday Small Finance Bank Sets August 6 Virtual AGM, Opens E-Voting for Shareholders
Jul 14, 2026
Suryoday Small Finance Bank has scheduled its eighteenth annual general meeting for August 6, 2026, to be conducted via video conferencing and other audio-visual means in line with Companies Act and SEBI listing regulations. The bank has released ...
Suryoday Small Finance Bank files FY 2025-26 Business Responsibility and Sustainability Report
Jul 14, 2026
Suryoday Small Finance Bank Limited has submitted its Business Responsibility and Sustainability Report for the financial year 2025-26 in compliance with Securities and Exchange Board of India listing regulations. The report, prepared on a standal...
Suryoday Small Finance Bank Sets August 6 Virtual AGM, Publishes Notices in Newspapers
Jul 11, 2026
Suryoday Small Finance Bank has notified stock exchanges that it has published newspaper advertisements announcing its 18th Annual General Meeting, which will be held on August 6, 2026, at 12:30 p.m. IST. The AGM will be conducted via video confer...
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.