ESAF Small Finance Bank – Q4 FY26 Results

key financial highlights

• Revenue from Operations:
  • Revenue (Q4 FY26): ₹1,19,645 Lakh
    • QoQ Change: +2.83%
    • YoY Change: +15.40%
  • Previous Quarter (Q3 FY26): ₹1,16,344 Lakh
  • Previous Year (Q4 FY25): ₹1,03,677 Lakh
• Profit After Tax (PAT):
  • PAT (Q4 FY26): ₹2,351 Lakh
    • QoQ Change: +230.1%
    • YoY Change: Turnaround
  • Previous Quarter (Q3 FY26): ₹712 Lakh
  • Previous Year (Q4 FY25): ₹(18,319) Lakh Loss
• QoQ Performance
  • Revenue Trend: Stable growth
  • Profit Trend: Strong recovery

Margin Analysis

Drivers:

• Lower provisioning compared to FY25
• Improvement in operating profitability
• Stable interest income

Insight:

• Margins are improving but remain structurally weak due to high credit cost

Segment performance

Segment: Retail

• Revenue: ₹1,01,530 Lakhs
• Loss-making segment despite dominance

Segment: Wholesale

• Revenue: ₹2,551 Lakhs
• Small but profitable

Segment: Treasury

• Revenue: ₹9,679 Lakhs
• Volatile performance

Segment: Other Banking Operations

• Revenue: ₹5,885 Lakhs
• Key profitability support

Segment insight

Summary:

• Retail dominates revenue but profitability is driven by non-core segments.

Charcateristics:

• Retail heavy book with stress
• Treasury volatility
• Other operations supporting profits
• Limited diversification

Earning quality check

Drivers:

• High provisioning (₹94,502 Lakhs)
• Low base effect aiding growth
• Improvement in operating profit

Interpretations:

• Earnings quality is weak-to-moderate, as profit recovery is not fully supported by stable asset quality

balance sheet Analysis

• Total Assets: ₹30,86,798 Lakhs
• Total Liabilities: ₹30,86,798 Lakhs

Insight:

• Balance sheet expansion is driven by deposits and advances growth, but rising borrowings signal funding pressure

key risks

• High GNPA (~5.41%)
• Low ROA (~0.08%)
• High provisioning requirement
• Retail loan stress
• Rising leverage

Financial metrics table

Quarterly Performance Context