NSE: ESAFSFB · BSE: 544020 · ISIN INE818W01011
ESAF Small Finance Bank Limited stock analysis
ESAF Small Finance Bank Limited ranks #2735 in the TickerSutra evidence-ranked universe with a score of 44/100 and 95% data confidence. The latest captured fundamentals show ROCE of 5.7%, quarterly sales growth of 32.5% and quarterly profit growth of 198.6%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 2.01×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹1,940cr | ₹-101cr | ₹55cr | -5.0% |
| 2023 | ₹2,854cr | ₹160cr | ₹302cr | 6.0% |
| 2024 | ₹3,819cr | ₹180cr | ₹426cr | 5.0% |
| 2025 | ₹3,858cr | ₹-1,105cr | ₹-521cr | -29.0% |
| 2026 | ₹3,537cr | ₹-974cr | ₹-166cr | -28.0% |
| TTM | ₹3,807cr | ₹-876cr | ₹-5cr | -23.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Confirmation of Redemption/Payment of Interest and Principal
RoutineESAF Small Finance Bank Ltd - 544020 - Closure of Trading WindowNSE · 25 Sept 2026ESAF Small Finance Bank Limited has informed the Exchange about Closure of Trading Window
RoutineESAF Small Finance Bank Ltd - 544020 - Board Meeting Outcome for Outcome Of The Board Meeting Held On September 23, 2026.BSE · 23 Sept 2026Outcome of the Board meeting held on September 23, 2026.
RoutineUpdatesNSE · 22 Sept 2026Updates
RoutineESAF Small Finance Bank Ltd - 544020 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSBSE · 22 Sept 2026Allotment of Equity Shares pursuant to exercise of ESOPs under ESAF Employee Stock Option Scheme 2019.
MANAGEMENT COMMENTARY
Signals from filed documents
ROA and ROE are reaching normalized levels and stood at 1% and 17.5%, respectively, on an annualized basis. As business volumes continues to scale up by exploiting the operating leverage from our distribution network and improved technological capabilities, further improvement in the return ratios are expected in future. This marked turnaround has been achieved with our continued focus on strategic transformation thr
26 Integrated Annual Report 2025-26 Strategic Priorities • Deepen CASA mobilisation acr oss new and existing customer relationships. • Expand fixed deposit and recurring deposit balances through service-led acquisition and competitive pricing. • Extend liability sourcing through branches, ATMs, and Business Correspondent-led channels.
These customers should mostly be individuals, self -help groups, small entrepreneurs, and other emerging business customers with a maximum ticket size of INR 10 lakhs. Over time, we expect emerging households to become one of the largest customer franchises within the bank. All our strategies have been built with a clear focus on creating a stable, diversified, and resilient asset base that is supported by discipline
ESAF Small Finance Bank Limited August 03, 2026 Page 10 of 11 And the follow-up question on that is like what is the approximate LTV value on these loans? Are we lending out to the ma ximum regulatory possible limit or are we keeping an internal buffer on those? Paul Thomas: Thank you, Sebin, and we'll be continuing at almost this level, 40% to 45% we will be continuing.
At the same time, our investment s under ES AF 2.0 will enhance agility, productivity, and customer experience, creating a stronger technology foundation for the future. The improvements in our business performance, asset quality, and profitability reflect structural changes we have made over the last two years, and we remain confident that disciplined execution, prudent risk management, and customer-centric innovati
CHANGE IN THE NATURE OF BUSINESS There was no change in the nature of business of the Bank during the Financial Year 2025-26. CAPITAL AND DEBT STRUCTURE Authorised Capital In order to meet Bank’s growth objectives, business expansion plans and to further strengthen its capital adequacy position, the Bank felt the need to have adequate Authorised Capital in order to infuse additional funds in the form of further capit
• Information Security and Cyber Risk Information security and cyber risk are recognised as critical operational risks in an increasingly digital banking environment. The Bank has established a comprehensive information security and cyber risk management framework approved by the Board and overseen through the IT Strategy Committee of the Board. At the management level, the Information Security Governance Committee (
Special 99.99 0.01 All the above resolutions were passed with requisite majority. of appointment/re-appointment of Independent Directors, products, branch details, distributor locator, media details, service helplines, various policies adopted by the Board, contact details for investor grievance redressal, credit rating details, shareholding pattern, notice of meeting of Board of Directors, quarterly unaudited financ
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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