On 6 Nov 2026, ESAF Small Finance Bank was priced at ₹42.04, or 8.0× trailing earnings. It earns ROE of 14%. For banks and lenders, ROCE and debt-to-equity are not used; it trades at 1.07× book value. It is a small-cap company with a market cap of ₹2,170 Cr, ranked 36th of 41 Banks (Regional) companies by market cap; the shares rose 52% over the past year.
- ₹42.00
- ₹42.38
- ₹41.00
- ₹42.21
- 4.5 L
Health check
- ReturnsAhead
+51.5% over a year, better than 7 of 7 peers.
- Price tagCheaper
P/B 1.07 vs peer median 1.78.
- Growthn/a
Not enough yearly results to measure.
- ProfitabilityAverage
ROE 14.3% vs peer median 14.7%.
- Balance sheetFair
Return on assets 0.91%. Bad-loan data isn’t covered.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹2,170 Cr
- Small cap
- P/E
- 8.0
- Industry 9.2
- Price to book
- 1.07
- Peers 1.78
- Dividend yield
- 0.00%
- ROE
- 14.3%
- Peers 14.7%
- ROCE
- n/m
- Not meaningful for lenders
- Debt to equity
- n/m
- Not meaningful for lenders
- EPS (TTM)
- ₹5.24
- Face value ₹10
- OPM (TTM)
- 30.3%
- Net margin 12.0%
- Sales growth
- n/m
- Not meaningful for lenders
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.96
Strengths and risks
Strengths and risks
Nothing stands out either way in the headline numbers.
About ESAF Small Finance Bank
ESAF Small Finance Bank provides banking products and services to rural and semi-urban markets in India. The company operates through four segments: Treasury, Wholesale Banking, Retail Banking, and Other Banking Operations. It offers savings and current accounts; fixed, recurring, green, and FCNR deposits; debit and credit cards; and home, gold, vehicle, MSME, Agri, clean energy, QR, and micro finance and micro loans, as well as loan against property, and…
- Headquarters
- Thrissur
- Employees
- 8,797
- Sector
- Financial Services
- ISIN
- INE818W01011
- Website
- esaf.bank.in
Price range
- Avg volume (3M)
- 7 L
- 1-year return
- plus 51.5%
- From 52-week high
- minus 8.6%
Peers · Banks - Regional
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANKHDFC Bank | 788.25 | plus 3.72% | 12,16,451 | 17.2 | 2.00 | 11.0% | 1.7% | 12.5% | 1.65% | minus 22.9% |
| ICICIBANKICICI Bank | 1,571.20 | plus 4.75% | 11,28,255 | 19.3 | 2.89 | 16.5% | 2.1% | 16.8% | 0.76% | plus 12.2% |
| SBINState Bank of India | 1,018.50 | plus 1.20% | 9,40,138 | 10.4 | 1.40 | 14.7% | 1.2% | 14.4% | 1.70% | plus 5.1% |
| KOTAKBANKKotak Mahindra Bank | 480.00 | plus 2.78% | 4,77,498 | 22.2 | 2.45 | 11.8% | 2.1% | 8.9% | 0.14% | plus 11.4% |
| AXISBANKAxis Bank | 1,322.90 | plus 3.35% | 4,11,985 | 13.8 | 1.78 | 13.9% | 1.6% | 34.6% | 0.08% | plus 4.4% |
| PNBPunjab National Bank | 126.55 | plus 0.36% | 1,45,443 | 6.4 | 0.90 | 15.1% | 1.1% | 76.4% | 2.37% | plus 2.3% |
| UNIONBANKUnion Bank of India | 187.00 | minus 0.53% | 1,42,748 | 6.5 | 1.00 | 16.3% | 1.4% | 31.7% | 2.67% | plus 24.1% |
| ESAFSFBESAF Small Finance Bank | 42.04 | minus 0.40% | 2,170 | 8.0 | 1.07 | 14.3% | 0.9% | – | 0.00% | plus 51.5% |
| Median of 7 peers | – | 2.78% | 4,77,498 | 13.8 | 1.78 | 14.7% | 1.6% | 16.8% | 1.65% | 5.1% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 517 | 702 | 719 | 832 | 857 | |
| 448 | 462 | 477 | 514 | 531 | |
| −155 | 9.1 | 27.1 | 107 | 215 | |
| 25.5% | 22.0% | 13.2% | 25.2% | 25.3% | |
| −116 | 7.1 | 23.5 | 80.1 | 160 | |
| -2.25 | 0.14 | 0.45 | 1.55 | 3.10 |
Profit & loss
- ROE
- 14.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,055 | 2,811 | 2,519 | 2,512 | |
| – | +36.8% | minus 10.4% | minus 0.3% | |
| 1,017 | 1,449 | 1,811 | 1,837 | |
| 41.8 | 51 | 59.3 | 65.5 | |
| −0.3 | 0.1 | 0.1 | −0.9 | |
| 406 | 570 | −521 | −166 | |
| 25.5% | 25.4% | 32.9% | 37.3% | |
| 302 | 426 | −521 | −166 | |
| – | +40.8% | minus 222.5% | – | |
| 5.87 | 8.96 | -10.13 | -3.23 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 449 | 515 | 515 | 516 | |
| 1,266 | 1,977 | 1,434 | 1,271 | |
| 2,680 | 2,573 | 1,406 | 2,253 | |
| 15,828 | 21,023 | 23,824 | 26,829 | |
| 20,224 | 26,087 | 27,178 | 30,868 | |
| 188 | 208 | 300 | 516 | |
| 0.2 | 2.6 | 63.3 | 290 | |
| 4,889 | 5,541 | 5,995 | 6,399 | |
| 767 | 1,423 | 1,979 | 1,175 | |
| 14,380 | 18,913 | 18,840 | 22,489 | |
| 20,224 | 26,087 | 27,178 | 30,868 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −571 | 1,001 | 3,176 | −1,960 | |
| −573 | −583 | −769 | −192 | |
| 399 | 235 | −1,852 | 1,347 | |
| −745 | 653 | 556 | −805 | |
| −71.7 | −71.4 | −153 | −283 | |
| −642 | 930 | 3,024 | −2,243 | |
| – | – | −36 | – |
Shareholding pattern
- Promoters63.23%
- Public36.77%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 63.23% | 36.77% | minus 0.02 | |
| 30 Jun 2026 | 63.25% | 36.75% | minus 0.03 | |
| 31 Mar 2026 | 63.28% | 36.72% | minus 0.02 | |
| 31 Dec 2025 | 63.30% | 36.70% | 0.00 | |
| 30 Sep 2025 | 63.30% | 36.70% | – |
Major shareholders
Filings & events
News
No recent news coverage found.