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Last Updated: April 2, 2026, 2:52 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543243 | NSE: EQUITASBNK

Equitas Small Finance Bank Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹15.29Overvalued by 71.42%vs CMP ₹53.50

P/E (15.0) × ROE (2.4%) × BV (₹51.40) × DY (2.00%)

Defaults: P/E=15

₹24.58Overvalued by 54.06%vs CMP ₹53.50
MoS: -117.7% (Negative)Confidence: 56/100 (Moderate)Models: 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹11.6922%Over (-78.1%)
Graham NumberEarnings₹38.6220%Over (-27.8%)
Earnings PowerEarnings₹39.4713%Over (-26.2%)
DCFCash Flow₹12.7116%Over (-76.2%)
Net Asset ValueAssets₹51.359%Fair (-4%)
EV/EBITDAEnterprise₹12.9711%Over (-75.8%)
Earnings YieldEarnings₹12.909%Over (-75.9%)
Consensus (7 models)₹24.58100%Overvalued
Key Drivers: EPS CAGR -23.6% drags value — could be higher if earnings stabilize. | ROE 2.4% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -23.6% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

47
Equitas Small Finance Bank Ltd scores 47/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 6.9% WeakROE 2.4% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.85% (6mo) SellingDII holding up 7.26% MF buying
Earnings Quality50/100 · Moderate
Quarterly Momentum40/100 · Moderate
Profit (4Q): -122% YoY Declining
Industry Rank40/100 · Moderate
ROCE 6.9% vs industry 6.8% AverageROE 2.4% vs industry 11.8% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Equitas Small Finance Bank Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 15.0 | ROCE 6.9% | ROE 2.4% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 0.00x | Borrow/Reserve 0.00x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹147 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -1.05 pp | DII +1.76 pp | Prom N/A
Business Momentum
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales N/A | Q NP +275.0% | Q OPM N/A
Derived FieldValueHow it is derived
Valuation Gap %-54.1%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.00xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-1.05 ppLatest FII% minus previous FII%
DII Change+1.76 ppLatest DII% minus previous DII%
Promoter ChangeN/ALatest promoter% minus previous promoter%
Shareholder Count Change-12,200Latest shareholder count minus previous count
Quarterly Sales ChangeN/ALatest quarter sales vs previous quarter sales
Quarterly Profit Change+275.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM ChangeN/ALatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:52 am

Market Cap 6,103 Cr.
Current Price 53.5
Intrinsic Value₹24.58
High / Low 73.4/50.0
Stock P/E
Book Value 51.4
Dividend Yield0.00 %
ROCE6.85 %
ROE2.43 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Equitas Small Finance Bank Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Equitas Small Finance Bank Ltd 6,103 Cr. 53.5 73.4/50.0 51.40.00 %6.85 %2.43 % 10.0
CSB Bank Ltd 6,246 Cr. 360 575/27010.0 2710.00 %7.11 %14.3 % 10.0
DCB Bank Ltd 5,371 Cr. 167 204/1027.64 1860.81 %7.67 %11.4 % 10.0
Karnataka Bank Ltd 8,705 Cr. 230 239/1637.54 3332.17 %6.33 %11.1 % 10.0
South Indian Bank Ltd 9,517 Cr. 36.4 46.8/22.16.85 42.11.10 %6.50 %13.8 % 1.00
Industry Average135,761.26 Cr305.6715.04214.170.61%6.84%11.80%6.30

All Competitor Stocks of Equitas Small Finance Bank Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue1,0631,1561,2541,3591,4291,4451,5011,5551,6121,6441,6491,6171,692
Interest 416449511593644659699753794815863844840
Expenses 5716856626807157589741,0219671,0021,3759691,027
Financing Profit772281867028-173-219-149-172-589-195-176
Financing Margin %7%2%6%6%5%2%-12%-14%-9%-10%-36%-12%-10%
Other Income 153239171181205240209239238225292229289
Depreciation 0000000000000
Profit before tax 22926125226727626836209053-29734114
Tax % 26%27%24%26%27%23%28%36%26%21%-25%28%21%
Net Profit 17019019119820220826136642-2242490
EPS in Rs 1.361.711.721.771.791.830.230.110.580.37-1.960.210.79
Gross NPA %3.63%2.76%2.75%2.27%2.53%2.61%2.73%2.95%2.97%2.89%2.92%2.92%2.75%
Net NPA %1.82%1.21%1.18%0.97%1.13%1.17%0.83%0.97%0.96%0.98%0.98%0.98%0.92%

Last Updated: February 6, 2026, 2:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:46 am

MetricMar 2011Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue064089811,5432,1122,6453,1943,4604,1625,4866,3126,602
Interest 021594606849641,1501,3961,4211,6172,4073,0603,361
Expenses 0172305619641,0151,3041,6282,1232,3612,6813,8164,373
Financing Profit-0-1319-40-105133191170-84184399-564-1,132
Financing Margin %-1,100%-208%5%-4%-7%6%7%5%-2%4%7%-9%-17%
Other Income 00712332412832824185386707999111,036
Depreciation 005328892967675851341480
Profit before tax -0-1385161493243775113787691,063199-97
Tax % 0%0%0%36%34%35%35%25%26%25%25%26%
Net Profit -0-138510432211244384281574799147-67
EPS in Rs -3.96-2.132.011.040.322.092.313.372.245.167.041.29-0.59
Dividend Payout % 0%0%0%0%0%0%0%0%0%19%14%78%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)22.35%-69.23%559.38%15.64%57.38%-26.82%104.27%39.20%-81.60%
Change in YoY Net Profit Growth (%)0.00%-91.58%628.61%-543.74%41.74%-84.20%131.09%-65.07%-120.80%

Equitas Small Finance Bank Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:19%
3 Years:22%
TTM:13%
Compounded Profit Growth
10 Years:%
5 Years:-10%
3 Years:-20%
TTM:-116%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:4%
1 Year:-38%
Return on Equity
10 Years:%
5 Years:9%
3 Years:9%
Last Year:2%

Last Updated: September 5, 2025, 3:35 am

Balance Sheet

Last Updated: December 4, 2025, 1:13 am

MonthMar 2011Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6614231,0061,0061,0061,0531,1391,2521,1111,1351,1401,140
Reserves -0-132881,0061,0381,2481,6912,2572,9944,0474,8344,9334,718
Deposits001,9215,6049,00710,78816,39218,95125,34836,12943,10744,094
Borrowing0441,6384,7795,1773,9735,1354,1652,6162,9741,7882,1373,452
Other Liabilities 014655334855296287551,1341,4781,4181,5192,027
Total Liabilities 51052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83655,431
Fixed Assets 0411274280236210184189338537531709
CWIP 0001512211141681650
Investments 0001,8903,8572,3442,3433,7054,4506,6659,0659,28910,598
Other Assets 51022,4037,0669,17213,18116,74020,81822,29727,91435,63442,85144,124
Total Assets 51052,4149,24513,31015,76319,29624,70826,94834,95845,30452,83655,431

Reserves and Borrowings Chart

Cash Flow

MonthMar 2011Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -101-3361,3342131,7994402,044159-9983,8341,937
Cash from Investing Activity + -3-9-405-11-7-72-43-8949-360-239
Cash from Financing Activity + 108168-563-28-1,706908-1,154-1,31760-1,210259
Net Cash Flow 4-177366173861,276847-1,246-8882,2641,957
Free Cash Flow -106-3441,0411331,7513671,99568-1,2613,4741,698
CFO/OP 912%-161%341%42%177%43%140%24%-45%147%84%

Free Cash Flow

MonthMar 2011Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.0017.00230.00560.00959.00-8.00-9.00-15.00-16.00-23.00-34.00-40.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2011Mar 2012Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
ROE % -49%8%2%10%10%13%7%12%14%2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
FIIs 22.69%21.45%18.16%19.61%19.50%19.65%16.91%15.42%16.47%16.30%15.67%14.62%
DIIs 42.97%42.96%43.93%45.64%45.21%45.42%43.66%42.62%42.70%47.13%48.20%49.96%
Public 34.33%35.58%37.91%34.74%35.28%34.93%39.42%41.96%40.82%36.57%36.13%35.42%
No. of Shareholders 3,17,9163,24,1303,62,7513,61,7093,72,3043,81,6824,44,5444,57,3624,48,2614,33,8204,18,0504,05,850

Shareholding Pattern Chart

No. of Shareholders

Equitas Small Finance Bank Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 67,023,564 1.27 469.9N/AN/AN/A
Franklin India Small Cap Fund 48,064,081 2.64 336.98N/AN/AN/A
SBI ELSS Tax Saver Fund 44,472,693 0.98 311.8N/AN/AN/A
Mirae Asset ELSS Tax Saver Fund 42,008,652 1.13 294.52N/AN/AN/A
SBI Contra Fund 33,102,195 0.48 232.0829,985,5462025-12-07 12:30:2310.39%
Canara Robeco Small Cap Fund 28,371,594 1.57 198.9120,905,9732025-12-07 12:30:2335.71%
Franklin India Mid Cap Fund 23,580,355 1.35 165.32N/AN/AN/A
Nippon India Banking & Financial Services Fund 21,553,986 1.95 151.1213,478,0772025-12-07 09:09:5359.92%
Axis Small Cap Fund 17,106,588 0.47 119.93N/AN/AN/A
Nippon India Small Cap Fund 13,733,036 0.15 96.28N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.) 1.297.124.712.433.53
Diluted EPS (Rs.) 1.297.014.672.403.49
Cash EPS (Rs.) 2.598.225.932.844.04
Book Value[Excl.RevalReserv]/Share (Rs.) 53.2752.5946.4433.9129.81
Book Value[Incl.RevalReserv]/Share (Rs.) 53.2752.5946.4433.9129.81
Operating Revenue / Share (Rs.)55.3748.3437.4827.6328.04
Net Profit / Share (Rs.) 1.297.045.162.243.37
Interest Income / Employee (Rs.)8308180.860.002023964.451964939.681929459.53
Net Profit / Employee (Rs.)193563.120.00278943.00159443.29232074.90
Business / Employee (Rs.)104403855.470.0024888932.7421766912.7620077264.07
Interest Income / Branch (Rs.)142155968.470.0047564321.1440181989.5537101198.61
Net Profit / Branches (Rs.)3311934.680.006555320.003260531.944462522.65
Business / Branches (Rs.)1786387590.090.00584904141.71445121989.55386061770.03
Net Profit Margin (%) 2.3214.5613.788.1112.02
Operating Profit Margin (%)3.5320.6017.8410.8917.33
Return On Assets (%) 0.271.761.641.041.55
Return On Equity / Networth (%)2.4213.3811.126.6111.31
Net Interest Margin (X)6.156.797.277.567.27
Cost To Income (%)67.9564.4863.4166.1559.99
Interest Income / Total Assets (%)11.9412.1111.9012.8312.92
Non-Interest Income / Total Assets (%)1.721.761.911.991.69
Operating Profit / Total Assets (%)-1.440.00-0.27-0.95-0.13
Operating Expenses / Total Assets (%)5.355.525.836.325.37
Interest Expenses / Total Assets (%)5.795.314.625.275.65
Enterprise Value (Rs.Cr.)46558.8544903.8734628.9227014.3326883.85
EV Per Net Sales (X)7.388.188.327.818.42
Price To Book Value (X)1.031.761.441.512.01
Price To Sales (X)0.991.911.791.852.14
Retention Ratios (%) 100.00100.00100.00100.00100.00
Earnings Yield (X)0.020.070.070.040.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Equitas Small Finance Bank Ltd. is a Public Limited Listed company incorporated on 21/06/1993 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L65191TN1993PLC025280 and registration number is 025280. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company's Total Operating Revenue is Rs. 6311.73 Cr. and Equity Capital is Rs. 1139.86 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance - Banks - Private Sector4th Floor, Phase II, Chennai (Madras) Tamil Nadu 600002Contact not found
Management
NamePosition Held
Mr. Anil Kumar SharmaPart Time Chairman & Independent Director
Mr. P N VasudevanManaging Director & CEO
Mr. Balaji NuthalapadiExecutive Director
Prof. Samir Kumar BaruaInd. Non-Executive Director
Ms. Geeta Dutta GoelInd. Non-Executive Director
Dr. Gulshan RaiInd. Non-Executive Director
Mr. Navin PuriInd. Non-Executive Director
Mr. K S SampathInd. Non-Executive Director
Mr. N R NarayananInd. Non-Executive Director
Mr. Ramkumar KrishnaswamyInd. Non-Executive Director
Mr. Ramesh RanganInd. Non-Executive Director

FAQ

What is the intrinsic value of Equitas Small Finance Bank Ltd and is it undervalued?

As of 05 April 2026, Equitas Small Finance Bank Ltd's intrinsic value is ₹24.58, which is 54.06% lower than the current market price of ₹53.50, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.43 %), book value (₹51.4), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Equitas Small Finance Bank Ltd?

Equitas Small Finance Bank Ltd is trading at ₹53.50 as of 05 April 2026, with a FY2026-2027 high of ₹73.4 and low of ₹50.0. The stock is currently near its 52-week low. Market cap stands at ₹6,103 Cr..

How does Equitas Small Finance Bank Ltd's P/E ratio compare to its industry?

Equitas Small Finance Bank Ltd has a P/E ratio of , which is below the industry average of 15.04. This is broadly in line with or below the industry average.

Is Equitas Small Finance Bank Ltd financially healthy?

Key indicators for Equitas Small Finance Bank Ltd: ROCE of 6.85 % is on the lower side compared to the industry average of 6.84%; ROE of 2.43 % is below ideal levels (industry average: 11.80%). Dividend yield is 0.00 %.

Is Equitas Small Finance Bank Ltd profitable and how is the profit trend?

Equitas Small Finance Bank Ltd reported a net profit of ₹147 Cr in Mar 2025 on revenue of ₹6,312 Cr. Compared to ₹281 Cr in Mar 2022, the net profit shows a declining trend.

Does Equitas Small Finance Bank Ltd pay dividends?

Equitas Small Finance Bank Ltd has a dividend yield of 0.00 % at the current price of ₹53.50. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Equitas Small Finance Bank Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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