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Stock Analysis

Description

UCO Bank is engaged in providing a wide range of banking and financial services including Retail Banking, Corporate Banking and Treasury Operations.

Key Growth Triggers

Robust credit growth across segments, particularly Retail (+28.18% YoY), Agriculture (+24.69% YoY), and MSME (+23.56% YoY).
Strategic expansion through the upcoming IFSC Banking Unit in GIFT City.
Continued focus on digital transformation, with significant YoY growth in digital transactions and account openings.
ESG initiatives, including mobilization of green deposits and exposure to renewable energy projects.

Order Book

Currently no data available for Order Book.

Key Red Flags

Historical low return on equity over the last three years (company data).
Significant contingent liabilities as per historical data (company data).
Net NPA of 0.36% is slightly above the guidance of <0.35% for Q3 FY26, though overall asset quality has improved.

Key Dates To Watch

Upcoming Q4 FY26 earnings announcement (likely April 2026).
Further updates on the operationalization of the GIFT City IFSC Banking Unit.

Corporate Announcements

1st Apr 26

Impact Rating: 6

UCO Bank announced the elevation of three General Managers, Mr. Saroj Ranjan Nayak, Mr. Prem Shankar Jha, and Mr. Avinash Shukla, to Chief General Managers, effective April 1, 2026, as per SEBI regulations.

25th Mar 26

Impact Rating: 8

UCO Bank has announced the closure of its trading window, effective April 1, 2026. The window will remain shut until 48 hours after the disclosure of the bank's financial results for the quarter and year ended March 31, 2026.

16th Mar 26

Impact Rating: 6

UCO Bank's Extraordinary General Meeting on March 16, 2026, saw shareholders approve an ordinary resolution extending Executive Director Shri Rajendra Kumar Saboo's term by three years. Mr. Rajesh Kumar Ailawadi was confirmed as Shareholder Director, a role he assumed on March 8, 2026.

16th Mar 26

Impact Rating: 7

At its March 16, 2026 EGM, UCO Bank shareholders approved a three-year tenure extension for Executive Director Shri Rajendra Kumar Saboo and elected Mr. Rajesh Kumar Ailawadi as Shareholder Director, ensuring leadership continuity.

10th Mar 26

Impact Rating: 7

Effective March 10, 2026, UCO Bank has adjusted its benchmark rates. Key changes include reductions in TBLR (3 & 6 month) and the UCO G-Sec Rate (1 year). MCLR and other rates are unchanged.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	SBI	1007.15	11.83	929798.54	1.58	21860.59	-4.25	128040.50	5.78	6.47	505419.84	46.36	78596.36	18941.27	1.63	1.15	11.08
2.	Bank of Baroda	308.25	8.28	159328.89	2.71	5180.63	-4.14	33318.24	4.44	6.29	131574.32	63.64	19236.14	5133.56	1.00	1.18	10.53
3.	Punjab Natl.Bank	125.68	8.48	144408.78	2.31	5120.59	8.72	32512.76	6.78	6.32	129502.98	73.64	17035.45	5125.28	1.02	1.07	12.22
4.	Canara Bank	152.96	7.25	138771.73	2.62	4896.43	15.81	32071.97	6.26	6.79	125841.25	60.85	19140.98	4850.03	1.20	1.08	14.05
5.	Union Bank (I)	166.33	6.87	127038.75	2.86	4425.95	-6.84	26664.81	-0.82	6.72	109143.51	67.32	18488.14	4425.95	1.01	1.24	10.38
6.	Indian Bank	864.60	9.88	116444.99	1.88	3108.63	11.01	16628.28	8.19	6.38	64543.17	68.72	11785.54	3107.97	1.51	1.35	10.65
7.	I O B	36.61	16.53	70459.92	0.00	1226.42	57.81	7848.79	14.57	5.95	29979.65	61.94	4262.19	1226.42	2.02	0.89	11.07
8.	UCO Bank	29.89	14.92	37581.09	1.30	619.76	2.82	6537.17	7.55	5.76	25937.73	59.64	2518.46	619.76	1.15	0.71	10.08
–	Median: 12 Co.	138.59	8.38	93452.46	2.09	2842.11	9.87	17574.88	6.68	6.23	69163.76	64.02	10902.75	2842.33	1.17	1.08	10.97

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	1,754	2,072	2,567	2,295	2,227	2,454	2,025	2,507	3,055	1,766	1,924	2,355	2,392
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	823	861	1,186	633	835	997	960	1,125	1,392	780	647	993	884
Profit before tax	1,021	777	996	347	862	946	907	806	1,036	784	640	939	1,025
Tax %	36%	35%	36%	36%	36%	36%	36%	35%	37%	36%	37%	36%	40%
Net Profit	653	503	639	223	551	607	581	526	652	505	402	603	620
EPS in Rs	0.55	0.42	0.53	0.19	0.46	0.48	0.49	0.44	0.52	0.42	0.34	0.50	0.49

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	5,546	5,849	10,768	6,789	8,521	12,753	11,539	8,845	7,658	6,729	8,517	9,892	10,468
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	1,321	2,004	1,596	2,114	1,121	1,514	2,871	3,424	3,101	2,508	3,266	4,407	4,460
Interest	12,171	13,797	13,713	12,509	10,895	10,019	10,042	8,966	8,508	10,307	13,754	15,437	15,926
Depreciation	110	136	137	153	152	137	137	134	165	218	281	311	0
Profit before tax	1,724	1,582	-4,460	-1,011	-4,427	-7,065	-3,713	-75	1,750	2,905	2,569	3,834	4,004
Net Profit	1,511	1,138	-2,799	-1,851	-4,436	-4,321	-2,437	167	930	1,862	1,654	2,445	2,518
EPS in Rs	14.89	10.58	-26.03	-11.87	-19.22	-7.97	-2.46	0.17	0.78	1.56	1.38	1.95	2.02
Dividend Payout %	20%	19%	0%	0%	0%	0%	0%	0%	0%	0%	20%	20%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	1,015	1,076	1,076	1,560	2,308	5,423	9,918	9,918	11,956	11,956	11,956	12,540	12,540
Reserves	10,212	11,473	11,446	11,194	12,649	11,968	9,291	12,688	11,638	13,809	15,401	18,465	19,925
Borrowings	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Liabilities	7,647	8,779	8,002	7,767	6,800	6,863	7,800	9,428	6,609	5,260	7,873	9,247	9,840
Total Liabilities	239,125	245,917	244,883	231,340	216,056	230,484	235,908	253,336	267,784	300,863	323,691	362,481	369,475
Fixed Assets	1,018	1,066	2,878	2,843	2,867	2,814	2,832	3,151	3,287	3,444	3,717	3,791	3,927
Gross Block	2,102.01	2,291.54	4,253.30	4,364.52	4,510.67	4,595.27	4,756.82	5,212.35	5,430.13	5,809.11	6,327.58	6,677.73	–
Accumulated Depreciation	1,083.73	1,225.26	1,375.04	1,521.13	1,643.79	1,780.97	1,924.42	2,061.15	2,143.03	2,364.62	2,610.95	2,887.00	–
CWIP	43	48	6	6	8	8	8	67	48	65	65	61	0
Investments	67,452	64,223	83,974	74,019	70,962	82,232	90,999	93,783	96,874	95,169	92,904	94,272	97,765
Other Assets	170,611	180,580	158,024	154,471	142,219	145,430	142,069	156,335	167,575	202,184	227,006	264,357	267,784
Total Assets	239,125	245,917	244,883	231,340	216,056	230,484	235,908	253,336	267,784	300,863	323,691	362,481	369,475

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3,574	7,861	-2,978	-3,852	-9,082	4,190	-10,658	2,422	4,399	2,983	1,002	1,913
Cash from Investing Activity	-135	-151	-52	-217	-24	44	-250	106	-214	-67	-275	-680
Cash from Financing Activity	-771	-553	-579	3,609	5,754	5,450	4,283	3,266	-1,637	-336	-430	5,870
Net Cash Flow	2,668	7,157	-3,610	-459	-3,352	9,684	-6,626	5,794	2,548	2,580	297	7,102

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	–	–	–	–	–	–	–	–	–	–	–	–
Inventory Days	–	–	–	–	–	–	–	–	–	–	–	–
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	–	–	–	–	–	–	–	–	–	–	–	–
Working Capital Days	–	–	–	–	–	–	–	–	–	–	–	–
ROCE %	–	–	–	–	–	–	–	–	–	–	–	–

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	95.39%	95.39%	95.39%	95.39%	95.39%	95.39%	95.39%	95.39%	95.39%	90.95%	90.95%	90.95%
FIIs	0.05%	0.16%	0.05%	0.09%	0.01%	0.03%	0.03%	0.02%	0.02%	0.44%	0.13%	0.13%
DIIs	1.37%	1.37%	1.35%	1.36%	1.32%	1.32%	1.32%	1.32%	1.33%	5.36%	4.74%	4.52%
Public	3.18%	3.08%	3.20%	3.14%	3.27%	3.26%	3.26%	3.25%	3.25%	3.26%	4.17%	4.38%