The call has ended.
Key takeaways
Q2 FY27 net loss ₹70 Cr; PPOP ₹85 Cr, up 34% QoQ. Q1 one-off credits (CGFMU, ARC) distort the provisioning comparison; slippages rose sequentially to ₹239 Cr.
| Revenue growth | Loan book +7.5% YoY, +2.3% QoQ; H1 disbursements +52% YoY. |
|---|---|
| Margins | NIM ~6.3% (analyst-cited); cost of funds down 50bps YoY to 7.4%. |
| Demand visibility | Recovery 'green shoots'; disbursements rising; August slowdown from CBS launch. |
| Management confidence | Over-optimistic; repeated add-back reconciliations defend provisioning optics. |
Growth
Loan book +7.5% YoY, +2.3% QoQ; deposits +7% YoY; H1 disbursements +52%, with JLG only +2%.
Outlook
Guides 25-30% loan book growth FY27; NIM ~8%; ROE 15% FY28; cost-to-income 60-65% FY28.
Risks
Slippages rose QoQ to ₹239 Cr; CGFMU cover ends March with premium unpaid; Maharashtra collections dipped to 98.8%.
Last quarter's promises, checked
Delivered
- Incremental PPOP growth → ₹64 Cr to ₹85 Cr (= BEAT)
- ₹195 Cr 12.5% tranche early redemption by mid-Aug → redeemed early (= BEAT)
- COF 7.7% with repricing → 7.4% (= BEAT)
Partly delivered
- Tier-2 NCD ₹500 Cr → ₹300 Cr raised (= PARTIAL)
- CGFMU ~80% cover sustained → window closed pending govt approval (= PARTIAL)
Missed
- Loan book growth 25-30% YoY FY27 → +7.5% YoY (= MISS)
- NIM ~8% → ~6.3% analyst-cited (= MISS)
- Path to profitability, Q1 loss ₹34 Cr → Q2 loss ₹70 Cr (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Utkarsh Small Finance Bank Q2 FY27 Results: Net Loss of ₹69.9 Cr, Loss Narrows
Utkarsh Small Finance Bank Ltd reported revenue from operations of ₹909.3 Cr (+8.2% YoY) and a net loss of ₹69.9 Cr for Q2 FY27.
- Key figure
- Net loss ₹69.9 Cr
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 25-30% loan book growth with a 15% ROE goal by FY28.
Growth they described
Total disbursements grew 49% YoY, driven by non-JLG segments (93% growth) and microbanking business loans.
Call details
| Company | Utkarsh Small Finance Bank Limited |
|---|---|
| NSE symbol | UTKARSHBNK |
| ISIN | INE735W01017 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 4 November 2026 |
| Time | 6:15 PM IST |
Utkarsh Small Finance Bank Limited: key numbers
- Share price
- ₹11.73
- Market cap
- ₹2,087 Cr
- Revenue (annual)
- ₹3,379 Cr
- Net profit (annual)
- ₹-1,151 Cr
- P/E (TTM)
- -3.1×Sector 20.6×
- Promoter holding
- 42.67%+0.00% QoQ
- FII holding
- 10.44%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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