Ujjivan Small Finance Bank Limited is a mass market focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. It started its operations as Ujjivan Financial Services Limited, a Non-Banking Financial Company in 2005 with the mission to provide financial services to the ‘economically active poor’ who were not adequately served by financial institutions.[1]
Business SegmentsRetail Banking:85% in FY25 vs 89% in FY22Treasury:12% in FY25 vs 9% in FY22Wholesale Banking:3% in FY25 vs 2% in FY22[1][2]
| 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. | AU Small Finance | 1008.75 | 34.67 | 75371.85 | 0.10 | 560.87 | -1.81 | 4511.28 | 15.36 | 8.40 | 17273.80 | 51.72 | 2173.88 | 560.87 | 4.15 | 1.58 | 7.87 |
| 2. | Ujjivan Small | 58.21 | 27.07 | 11286.68 | 0.00 | 121.72 | -47.77 | 1682.31 | 4.31 | 8.53 | 6465.58 | 38.93 | 416.95 | 121.72 | 1.81 | 1.65 | 6.77 |
| 3. | Equitas Sma. Fin | 66.64 | – | 7601.76 | 0.00 | 24.14 | 87.42 | 1617.35 | 4.02 | 6.85 | 6522.11 | 33.88 | -91.21 | 24.14 | 1.30 | 0.30 | 8.12 |
| 4. | Jana Small Finan | 420.15 | 10.76 | 4423.07 | 0.00 | 74.99 | -22.47 | 1304.78 | 11.90 | 8.15 | 4933.52 | 40.70 | 411.06 | 74.99 | 1.03 | 1.41 | 8.49 |
| 5. | Utkarsh Small F. | 15.40 | – | 2740.47 | 0.00 | -348.46 | -778.07 | 839.97 | -14.89 | 7.17 | 3532.93 | 7.10 | -753.02 | -348.46 | 1.17 | 0.09 | 9.98 |
| 6. | Fino Payments | 253.30 | 26.28 | 2107.92 | 0.00 | 15.35 | -27.42 | 60.11 | 25.88 | 6.64 | 223.23 | -615.28 | 80.22 | 15.35 | 2.80 | 2.43 | 3.93 |
| 7. | Suryoday Small | 144.29 | 23.52 | 1533.66 | 0.00 | 30.41 | -33.00 | 519.66 | 2.46 | 7.28 | 1973.26 | 37.70 | 65.21 | 30.41 | 0.77 | 0.82 | 7.11 |
| – | Median: 9 Co. | 144.29 | 24.9 | 2740.47 | 0.0 | 30.41 | -22.47 | 839.97 | 4.31 | 7.17 | 3532.93 | 37.7 | 80.22 | 30.41 | 1.17 | 1.36 | 7.87 |
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 | 447 | 650 | 923 | 538 | 739 | 969 | 505 | 730 | 1,039 | 415 | 576 | 841 | 1,018 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 139 | 185 | 172 | 177 | 197 | 249 | 179 | 236 | 270 | 147 | 189 | 207 | 256 |
Profit before tax | 389 | 394 | 136 | 432 | 400 | 136 | 412 | 440 | 95 | 395 | 436 | 310 | 160 |
Tax % | 25% | 24% | 20% | 25% | 25% | 24% | 25% | 25% | 12% | 25% | 25% | 25% | 24% |
Net Profit | 293 | 300 | 109 | 324 | 301 | 103 | 310 | 330 | 83 | 294 | 328 | 233 | 122 |
EPS in Rs | 1.50 | 1.53 | 0.56 | 1.66 | 1.56 | 0.53 | 1.58 | 1.68 | 0.43 | 1.51 | 1.68 | 1.20 | 0.63 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2012 | Mar 2013 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 93 | 102 | 111 | 922 | 1,053 | 1,417 | 1,944 | 2,603 | 1,730 | 2,396 | 3,406 | 3,948 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 8 | 11 | 9 | 111 | 206 | 322 | 302 | 360 | 589 | 787 | 846 | 947 |
Interest | 59 | 81 | 109 | 607 | 725 | 1,070 | 1,078 | 1,039 | 1,467 | 2,268 | 2,718 | 2,937 |
Depreciation | 2 | 3 | 5 | 41 | 61 | 73 | 77 | 80 | 90 | 98 | 135 | 0 |
Profit before tax | 2 | 49 | 1 | 9 | 199 | 466 | 10 | -550 | 1,467 | 1,702 | 942 | 527 |
Net Profit | 2 | 34 | 0 | 7 | 199 | 350 | 8 | -415 | 1,100 | 1,281 | 726 | 417 |
EPS in Rs | – | – | 0.00 | 0.05 | 1.38 | 2.02 | 0.05 | -2.40 | 5.63 | 6.54 | 3.75 | 2.15 |
Dividend Payout % | -0% | 48% | -0% | -0% | -0% | -0% | -0% | -0% | 22% | 6% | -0% | – |
Standalone figures in ₹ crores
| Mar 2012 | Mar 2013 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 57 | 66 | 1,440 | 1,440 | 1,440 | 1,728 | 1,728 | 1,728 | 1,955 | 519 | 1,935 | 1,937 |
Reserves | 185 | 256 | 0 | 7 | 180 | 1,260 | 1,290 | 874 | 2,054 | 5,095 | 4,148 | 4,293 |
Borrowings | – | – | – | – | – | – | – | – | – | – | – | – |
Other Liabilities | 38 | 41 | 298 | 201 | 377 | 490 | 779 | 754 | 929 | 1,176 | 1,130 | 1,211 |
Total Liabilities | 898 | 1,360 | 8,436 | 9,473 | 13,742 | 18,411 | 20,380 | 23,612 | 33,317 | 40,422 | 47,689 | 49,614 |
Fixed Assets | 11 | 11 | 137 | 194 | 282 | 280 | 276 | 244 | 265 | 395 | 444 | 490 |
Gross Block | 18.49 | 20.43 | 172.19 | 266.93 | 406.75 | 473.56 | 544.82 | 588.35 | 687.80 | 877.47 | 1,038.49 | – |
Accumulated Depreciation | 7.34 | 9.29 | 35.59 | 72.79 | 124.41 | 193.69 | 268.88 | 344.75 | 422.49 | 482.62 | 594.75 | – |
CWIP | -0 | -0 | 3 | 4 | 2 | 21 | 5 | 6 | 18 | 32 | 13 | -0 |
Investments | 0 | 0 | 1,447 | 1,232 | 1,527 | 2,396 | 2,516 | 4,153 | 8,510 | 9,766 | 11,730 | 11,603 |
Other Assets | 886 | 1,349 | 6,849 | 8,042 | 11,931 | 15,715 | 17,583 | 19,210 | 24,524 | 30,230 | 35,502 | 37,521 |
Total Assets | 898 | 1,360 | 8,436 | 9,473 | 13,742 | 18,411 | 20,380 | 23,612 | 33,317 | 40,422 | 47,689 | 49,614 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2012 | Mar 2013 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -168 | -409 | -7,084 | 2,314 | 478 | 242 | 2,657 | 2,554 | 1,060 | 1,593 | 2,028 |
Cash from Investing Activity | 1 | 3 | -161 | -101 | -148 | -757 | -1,356 | -841 | -2,096 | -865 | -1,793 |
Cash from Financing Activity | 269 | 427 | 7,931 | -2,439 | 287 | 776 | -706 | -1,484 | 1,186 | -519 | 398 |
Net Cash Flow | 102 | 21 | 687 | -225 | 617 | 261 | 595 | 230 | 150 | 210 | 633 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2012 | Mar 2013 | 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 % | – | – | – | – | – | – | – | – | – | – | – |
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Stock Analysis
Ujjivan Small Finance Bank Limited is an Indian bank focused on financial inclusion, catering to financially unserved and underserved segments. It originated as Ujjivan Financial Services Limited, an NBFC established in 2005.
Growth is driven by expanding its secured loan portfolio, strengthening its retail deposit base, and developing specific segments like Housing, MSME, and Vehicle Loans. The bank is also pursuing a Universal Banking License.
Currently no data available for Order Book.
The recent resignation of the Business Head - MSME, though attributed to career advancement, underscores the importance of leadership continuity and succession planning within critical business units.
Board meeting for Q3 FY26 results is scheduled for January 22, 2026. Q3 FY26 business update highlights significant YoY growth in deposits and loans, with improving asset quality.
Corporate Announcements
