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Utkarsh Small Finance Bank Limited
(UTKARSHBNK)
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Rating:42Neutral
Price Target:
₹13.50
▼(-5.66% Downside)
Action:Reiterated
Date:09/19/26
The score is held down primarily by deteriorating financial performance (FY2026 loss, negative revenue growth, and two years of cash burn). Technical indicators also reflect weak momentum (negative MACD, sub-50 RSI, and price below key short-term moving averages). Valuation is not supportive due to the negative P/E and lack of a provided dividend yield.
Positive Factors
Underserved-market banking model
A focus on underserved and unserved customers gives the bank a defined market niche and supports relationship-led expansion across deposits, lending, payments and basic banking. This model can remain relevant over multiple quarters as formal financial access broadens.
Negative Factors
FY2026 earnings collapse
The sharp move from healthy FY2023–FY2024 profitability to a large FY2026 loss weakens confidence in near-term earnings durability. Continued losses could reduce internal capital generation, constrain investment capacity, and make a return to normalized profitability more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Underserved-market banking model
A focus on underserved and unserved customers gives the bank a defined market niche and supports relationship-led expansion across deposits, lending, payments and basic banking. This model can remain relevant over multiple quarters as formal financial access broadens.
Read all positive factors
Utkarsh Small Finance Bank Limited (UTKARSHBNK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹25.02B
Dividend Yield0.83%
Average Volume (3M)525.74K
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue Growth-12.04%
EPS Growth-121.91%
CountryIN
Employees18,400
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)-6.35
Shares Outstanding1,779,523,700
10 Day Avg. Volume946,382
30 Day Avg. Volume525,739
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.51
Price to Sales (P/S)0.37
P/FCF Ratio-8.69
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)0.97
Revenue Forecast (FY)₹25.86B
Utkarsh Small Finance Bank Limited Business Overview & Revenue Model
Company Description
Utkarsh Small Finance Bank Limited is an Indian financial institution delivering a comprehensive suite of banking and financial offerings. Its services cater to individual clients with diverse deposit accounts like savings, fixed, recurring, and t...
How the Company Makes Money
Utkarsh Small Finance Bank makes money primarily through interest-based income and fee-based income typical of a bank. (1) Net interest income: The bank earns interest on loans and advances (for example, retail and micro-banking/priority-sector-st...
Utkarsh Small Finance Bank Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.60B | 38.10B | 43.65B | 35.79B | 28.04B | 20.34B |
| Gross Profit | 22.71B | 3.45B | 26.22B | 22.86B | 18.28B | 12.46B |
| EBITDA | -9.71B | -14.29B | 1.04B | 7.25B | 5.94B | 1.21B |
| Net Income | -7.53B | -11.51B | 237.00M | 4.98B | 4.05B | 614.62M |
Balance Sheet | ||||||
| Total Assets | 273.84B | 288.69B | 281.27B | 239.03B | 191.17B | 150.64B |
| Cash, Cash Equivalents and Short-Term Investments | 38.33B | 16.92B | 34.37B | 30.27B | 25.16B | 18.72B |
| Total Debt | 19.58B | 28.29B | 23.55B | 61.96B | 61.03B | 54.33B |
| Total Liabilities | 249.90B | 260.93B | 251.53B | 209.29B | 171.17B | 134.91B |
| Stockholders Equity | 23.94B | 27.76B | 29.75B | 29.73B | 20.00B | 15.72B |
Cash Flow | ||||||
| Free Cash Flow | 26.09B | -1.62B | -33.76B | 10.41B | 14.97B | 11.82B |
| Operating Cash Flow | 26.94B | -122.29M | -32.18B | 11.11B | 15.73B | 13.29B |
| Investing Cash Flow | -17.82B | -26.04B | -7.77B | -6.20B | -6.93B | -7.39B |
| Financing Cash Flow | -5.15B | 15.01B | 44.04B | 39.02B | 34.01B | 26.78B |
Utkarsh Small Finance Bank Limited Technical Analysis
Negative
14.31
Price Trends
14.58
Negative
14.25
Negative
14.06
Positive
Market Momentum
-0.06
Positive
44.46
Neutral
11.60
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UTKARSHBNK, the sentiment is Negative. The current price of 14.31 is below the 20-day moving average (MA) of 14.74, below the 50-day MA of 14.58, and above the 200-day MA of 14.06, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 44.46 is Neutral, neither overbought nor oversold. The STOCH value of 11.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UTKARSHBNK.
Utkarsh 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 | ₹124.81B | 13.92 | ― | 3.38% | 15.87% | 70.88% | |
63 Neutral | ₹778.48B | 27.70 | ― | 0.10% | 14.96% | 30.22% | |
63 Neutral | ₹55.09B | 14.62 | ― | ― | 17.48% | -12.60% | |
56 Neutral | ₹82.58B | 16.57 | ― | 1.27% | 9.24% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹19.77B | -391.90 | ― | 1.39% | 10.82% | 99.22% | |
42 Neutral | ₹25.02B | -2.35 | ― | 0.83% | -12.04% | -121.91% |
* General Sector Average
IN:UTKARSHBNK
Utkarsh Small Finance Bank Limited
14.17
-4.47
-23.98%
IN:AUBANK
AU Small Finance Bank Limited
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335.54
47.56%
IN:EQUITASBNK
Equitas Small Finance Bank Ltd.
73.57
16.93
29.89%
IN:ESAFSFB
ESAF Small Finance Bank Limited
39.01
9.69
33.05%
IN:JSFB
Jana Small Finance Bank Ltd
527.25
61.80
13.28%
IN:UJJIVANSFB
Ujjivan Small Finance Bank Ltd.
65.00
20.21
45.12%
Utkarsh Small Finance Bank Limited Corporate Events
Utkarsh Small Finance Bank Shareholders Clear All Resolutions at 10th AGM via E-Voting
Aug 5, 2026
Utkarsh Small Finance Bank disclosed that all resolutions proposed at its tenth Annual General Meeting on August 4, 2026, held via video conferencing and supported by remote e-voting, were approved by shareholders with the requisite majority. The ...
Utkarsh Small Finance Bank Narrows Loss as Secured Lending and Asset Quality Improve in Q1 FY27
Aug 1, 2026
Utkarsh Small Finance Bank reported its unaudited financial results for the quarter ended June 30, 2026, highlighting strong disbursement growth of 48.5% year-on-year, driven by a near doubling of non-JLG lending. The bank’s gross loan portf...
Utkarsh Small Finance Bank Releases Q1 FY27 Investor Presentation
Aug 1, 2026
Utkarsh Small Finance Bank Limited has notified stock exchanges that it has released an investor presentation covering its unaudited financial results for the quarter ended June 30, 2026. The presentation has been filed under Regulation 30 of the ...
Utkarsh Small Finance Bank boosts non-JLG lending, strengthens retail deposits in Q1 FY27
Jul 5, 2026
Utkarsh Small Finance Bank reported a 48.5% year-on-year rise in total disbursements to ₹3,370 crore in Q1 FY27, driven by a 92.9% surge in non-JLG lending even as JLG disbursements grew modestly. The gross loan portfolio expanded 2% to S...
Utkarsh Small Finance Bank to Raise Tier II Capital and Reshuffle Top Management
Jun 20, 2026
Utkarsh Small Finance Bank’s board has approved the issuance of up to ₹500 crore of unsecured, subordinated, redeemable Tier II non-convertible debentures via private placement, a move aimed at augmenting additional Tier II capital wit...
Utkarsh Small Finance Bank Clears ₹500 Crore Tier II Issue, Elevates Simaria as Executive Director
Jun 20, 2026
Utkarsh Small Finance Bank’s board has approved the issuance of unsecured, subordinated, redeemable Tier II non-convertible debentures of up to ₹500 crore on a private placement basis, which will augment its additional Tier II capital ...
Utkarsh Small Finance Bank to Raise ₹500 Crore via Tier II Bonds, Elevates CFO to Whole-Time Director
Jun 20, 2026
Utkarsh Small Finance Bank’s board has approved the issuance of unsecured, subordinated, redeemable Tier II non-convertible debentures of up to ₹500 crore on a private placement basis, bolstering its additional Tier II capital within e...
Utkarsh Small Finance Bank to Raise ₹500 Crore via Tier II Bonds, Elevates Simaria to Executive Director
Jun 20, 2026
Utkarsh Small Finance Bank’s board has approved the issuance of unsecured, subordinated, redeemable Tier II non-convertible debentures of up to ₹500 crore on a private placement basis, strengthening its additional Tier II capital withi...
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.