Equitas Small Finance Bank Ltd (EQUITASBNK) — share price & stock analysis
From losses in FY12 to record profits — and the market still prices it like the bad old days.
Equitas Small Finance Bank Ltd (EQUITASBNK) trades at ₹77.1 as of 1 July 2026, up 14% over the past year — beating NIFTY 500 for 18 weeks. The machine reads this as turnaround, cheap vs history: from losses in FY12 to record profits — and the market still prices it like the bad old days. It trades at a P/BV of 1.4× (the 32nd percentile of its own range); the price is in Stage 2 — advancing, 6 weeks in; the business cycle reads DEEP CYCLICAL / AT TROUGH. Fundamentals-momentum score: 74/100 (mostly improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹8,817 Cr
- P/BV
- 1.44×
- ROE
- 1.7%
- vs own 10-yr valuation
- 32nd pctile
- Book value / share
- ₹53.7
- EPS (TTM)
- ₹0.9
- 10-yr median P/BV
- 1.6×
- Revenue (FY26)
- ₹6,794 Cr
- Profit after tax (FY26)
- ₹103 Cr
- Weinstein stage
- Stage 2 (6 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — real losses in FY12. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 14% of their historical range, margins are near the bottom of their band, and the market pays the cheap end of its range (32nd percentile). That reads as AT TROUGH — the point of maximum pessimism is also the point of maximum opportunity — IF the return to profit holds.net_profit
3 of the 5 things we track are currently moving the right way — most of the dashboard is turning up.
Where the levels actually stand: ROE 2% — below what a bank must earn to create value; GNPA 2.6% — workable, not pristine; the spread is near its 12-year low. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, lending and bad loans count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).
The price has risen while profits fell
Since Nov 2020, the stock is up 134% while earnings per share fell 68%. The difference is re-rating — investors paying more for the same rupee of profit.pricettm_eps
That works until it doesn’t: from here, earnings have to do the lifting, because the multiple has already done its part.
Today’s P/BV of 1.4× sits near the bottom of its own range — it has been cheaper than this only 32% of the time against its own history since 2020.pb_ratio
Data: Price, EPS and valuation (sampled — full series in the embedded dataset)
| Period | Price (₹) | EPS (TTM) (₹) | P/BV (×) |
|---|---|---|---|
| Nov 20 | 32.9 | 2.8 | – |
| Dec 20 | 39.5 | 2.8 | – |
| Jan 21 | 39.5 | 2.9 | 1.6 |
| Mar 21 | 59.4 | 2.9 | 2.3 |
| Apr 21 | 51.1 | 2.9 | – |
| Jun 21 | 61.0 | 3.5 | 2.0 |
| Jul 21 | 65.8 | 3.5 | 2.2 |
| Aug 21 | 58.9 | 3.1 | 2.0 |
| Oct 21 | 64.2 | 3.0 | 2.1 |
| Nov 21 | 63.6 | 2.4 | 2.1 |
| Dec 21 | 59.5 | 2.4 | 1.9 |
| Feb 22 | 56.5 | 2.4 | 1.8 |
| Mar 22 | 52.6 | 2.4 | 1.7 |
| May 22 | 54.3 | 2.4 | 1.8 |
| Jun 22 | 38.8 | 2.4 | 1.3 |
| Jul 22 | 44.5 | 3.0 | 1.3 |
| Sep 22 | 47.8 | 3.0 | 1.4 |
| Oct 22 | 47.3 | 3.0 | 1.3 |
| Dec 22 | 56.6 | 3.6 | 1.6 |
| Jan 23 | 55.9 | 3.6 | 1.5 |
| Feb 23 | 67.2 | 4.0 | 1.8 |
| Apr 23 | 70.5 | 4.0 | 2.1 |
| May 23 | 81.2 | 4.8 | 2.5 |
| Jun 23 | 90.1 | 4.8 | 2.8 |
| Aug 23 | 87.3 | 5.7 | 1.9 |
| Sep 23 | 85.0 | 5.7 | 1.8 |
| Nov 23 | 97.8 | 6.6 | 2.0 |
| Dec 23 | 108 | 6.6 | 2.2 |
| Jan 24 | 106 | 7.0 | 2.2 |
| Mar 24 | 96.9 | 7.0 | 2.0 |
| Apr 24 | 97.7 | 7.0 | 2.1 |
| May 24 | 92.6 | 7.1 | 2.0 |
| Jul 24 | 91.6 | 7.1 | 2.0 |
| Aug 24 | 82.9 | 5.6 | 1.6 |
| Oct 24 | 75.2 | 5.6 | 1.4 |
| Nov 24 | 62.6 | 3.9 | 1.2 |
| Dec 24 | 64.0 | 4.0 | 1.2 |
| Feb 25 | 70.9 | 2.8 | 1.4 |
| Mar 25 | 57.1 | – | 1.1 |
| May 25 | 63.9 | 1.3 | 1.2 |
| Jun 25 | 68.4 | – | 1.3 |
| Jul 25 | 61.2 | – | 1.2 |
| Sep 25 | 52.5 | – | 1.0 |
| Oct 25 | 56.1 | – | 1.1 |
| Nov 25 | 64.2 | – | 1.2 |
| Jan 26 | 66.9 | – | 1.3 |
| Feb 26 | 69.0 | – | 1.3 |
| Mar 26 | 54.8 | – | 1.1 |
| May 26 | 72.5 | – | 1.4 |
| Jun 26 | 75.0 | – | 1.4 |
| Jun 26 | 75.1 | – | 1.4 |
| Jul 26 | 77.1 | – | 1.4 |
Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/BV — what the market pays per rupee of book value; the dotted line is its long-run median (1.6×).
The price is in a confirmed uptrend — 6 weeks and counting
STAGE 2 · ADVANCING · 6 WEEKSStock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 6 weeks in, confirmed.stage
The price sits above its rising 200-day average (₹66 today) and its strength against the index is still improving — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 18 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Nov 20 | 32.9 | 32.8 | 32.8 | 4 |
| Dec 20 | 39.5 | 33.5 | 35.0 | 2 |
| Jan 21 | 39.5 | 34.9 | 38.1 | 2 |
| Mar 21 | 59.4 | 38.7 | 47.1 | 2 |
| Apr 21 | 51.1 | 42.7 | 52.7 | 2 |
| Jun 21 | 61.0 | 46.5 | 56.5 | 2 |
| Jul 21 | 65.8 | 50.4 | 60.4 | 2 |
| Aug 21 | 58.9 | 53.0 | 60.5 | 2 |
| Oct 21 | 64.2 | 55.1 | 61.3 | 2 |
| Nov 21 | 63.6 | 57.5 | 63.7 | 2 |
| Dec 21 | 59.5 | 58.4 | 61.7 | 2 |
| Feb 22 | 56.5 | 58.0 | 58.2 | 2 |
| Mar 22 | 52.6 | 56.7 | 54.4 | 4 |
| May 22 | 54.3 | 56.2 | 54.5 | 4 |
| Jun 22 | 38.8 | 53.4 | 47.0 | 4 |
| Jul 22 | 44.5 | 50.2 | 43.5 | 4 |
| Sep 22 | 47.8 | 49.1 | 44.9 | 4 |
| Oct 22 | 47.3 | 49.0 | 47.5 | 4 |
| Dec 22 | 56.6 | 49.8 | 51.0 | 2 |
| Jan 23 | 55.9 | 51.7 | 55.3 | 2 |
| Feb 23 | 67.2 | 53.3 | 57.7 | 2 |
| Apr 23 | 70.5 | 56.7 | 64.1 | 2 |
| May 23 | 81.2 | 60.9 | 71.3 | 2 |
| Jun 23 | 90.1 | 67.2 | 81.6 | 2 |
| Aug 23 | 87.3 | 73.9 | 89.2 | 2 |
| Sep 23 | 85.0 | 76.7 | 86.7 | 2 |
| Nov 23 | 97.8 | 81.0 | 92.1 | 2 |
| Dec 23 | 108 | 85.0 | 95.8 | 2 |
| Jan 24 | 106 | 91.0 | 105 | 2 |
| Mar 24 | 96.9 | 94.0 | 103 | 2 |
| Apr 24 | 97.7 | 94.4 | 98.8 | 2 |
| May 24 | 92.6 | 94.7 | 96.2 | 3 |
| Jul 24 | 91.6 | 95.3 | 96.5 | 2 |
| Aug 24 | 82.9 | 92.4 | 87.2 | 4 |
| Oct 24 | 75.2 | 89.6 | 82.8 | 4 |
| Nov 24 | 62.6 | 84.6 | 73.4 | 4 |
| Dec 24 | 64.0 | 79.6 | 67.2 | 4 |
| Feb 25 | 70.9 | 76.7 | 68.4 | 4 |
| Mar 25 | 57.1 | 72.4 | 61.9 | 4 |
| May 25 | 63.9 | 70.0 | 62.4 | 4 |
| Jun 25 | 68.4 | 68.7 | 64.5 | 4 |
| Jul 25 | 61.2 | 67.7 | 64.5 | 4 |
| Sep 25 | 52.5 | 64.5 | 57.5 | 4 |
| Oct 25 | 56.1 | 62.4 | 56.6 | 4 |
| Nov 25 | 64.2 | 62.2 | 60.2 | 4 |
| Jan 26 | 66.9 | 62.1 | 61.8 | 1 |
| Feb 26 | 67.4 | 63.7 | 66.2 | 2 |
| Apr 26 | 61.8 | 62.2 | 60.2 | 4 |
| May 26 | 66.5 | 63.6 | 65.4 | 4 |
| Jun 26 | 75.5 | 64.7 | 68.3 | 2 |
| Jul 26 | 77.1 | 66.0 | 71.6 | 2 |
Out of the loss years — profitable again, still below its best
Over 12 years, income went from ₹0.0 Cr to ₹6,794 Cr, and profit from ₹0.0 Cr to ₹103 Cr.revenuenet_profit
The books show real losses in FY12 (worst: ₹−13.0 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY11 | 0 |
| FY12 | 6 |
| FY16 | 408 |
| FY17 | 981 |
| FY18 | 1,543 |
| FY19 | 2,112 |
| FY20 | 2,645 |
| FY21 | 3,194 |
| FY22 | 3,460 |
| FY23 | 4,162 |
| FY24 | 5,486 |
| FY25 | 6,312 |
| FY26 | 6,794 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY11 | 0 |
| FY12 | -13 |
| FY16 | 85 |
| FY17 | 104 |
| FY18 | 32 |
| FY19 | 211 |
| FY20 | 244 |
| FY21 | 384 |
| FY22 | 281 |
| FY23 | 574 |
| FY24 | 799 |
| FY25 | 147 |
| FY26 | 103 |
Data: Spread % by year
| Period | Spread % (%) |
|---|---|
| FY11 | – |
| FY12 | 66.7 |
| FY16 | 61.0 |
| FY17 | 53.1 |
| FY18 | 55.7 |
| FY19 | 54.4 |
| FY20 | 56.5 |
| FY21 | 56.3 |
| FY22 | 58.9 |
| FY23 | 61.1 |
| FY24 | 56.1 |
| FY25 | 51.5 |
| FY26 | 49.9 |
Interest income grew 12% — steady, not spectacular
Mar 26 income was ₹1,836 Cr, up 12% on a year ago. A bank grows by lending more and charging well — this line is both together.revenue
Data: Quarterly interest + fee income
| Period | Income (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 1,254 | – |
| Sep 23 | 1,359 | – |
| Dec 23 | 1,429 | – |
| Mar 24 | 1,445 | – |
| Jun 24 | 1,501 | 19.7 |
| Sep 24 | 1,555 | 14.4 |
| Dec 24 | 1,612 | 12.8 |
| Mar 25 | 1,644 | 13.8 |
| Jun 25 | 1,649 | 9.9 |
| Sep 25 | 1,617 | 4.0 |
| Dec 25 | 1,692 | 5.0 |
| Mar 26 | 1,836 | 11.7 |
The squeeze is easing — the spread bottomed at 48% and is mending
Of every ₹100 of interest the bank earns, ₹47 goes straight out as interest on deposits and borrowings. It keeps ₹53 — up 3 points from a year ago.revenueinterest_expense
The visible arc: squeezed from 59% down to 48% (Jun 25) as deposits repriced faster than loans, and recovering since. The direction matters more than the level now.interest_expense
Data: Share of interest income kept, quarterly
| Period | Spread kept (%) |
|---|---|
| Jun 23 | 59.3 |
| Sep 23 | 56.4 |
| Dec 23 | 54.9 |
| Mar 24 | 54.4 |
| Jun 24 | 53.4 |
| Sep 24 | 51.6 |
| Dec 24 | 50.7 |
| Mar 25 | 50.4 |
| Jun 25 | 47.7 |
| Sep 25 | 47.8 |
| Dec 25 | 50.4 |
| Mar 26 | 53.4 |
Bad loans are stable at 2.6%
₹2.6 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying. After the money already set aside, the true exposure is 0.7%.gross_npa_pctnet_npa_pct
Data: Bad loans as % of the book, quarterly
| Period | Gross NPA (%) | Net NPA (after provisions) (%) |
|---|---|---|
| Jun 23 | 2.8 | 1.2 |
| Sep 23 | 2.3 | 1.0 |
| Dec 23 | 2.5 | 1.1 |
| Mar 24 | 2.6 | 1.2 |
| Jun 24 | 2.7 | 0.8 |
| Sep 24 | 3.0 | 1.0 |
| Dec 24 | 3.0 | 1.0 |
| Mar 25 | 2.9 | 1.0 |
| Jun 25 | 2.9 | 1.0 |
| Sep 25 | 2.9 | 1.0 |
| Dec 25 | 2.8 | 0.9 |
| Mar 26 | 2.6 | 0.7 |
Profit exploded 407% year on year
Mar 26 profit was ₹213 Cr, up 407% on last year — earnings per share of ₹1.86.net_profiteps
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 191 | – |
| Sep 23 | 198 | – |
| Dec 23 | 202 | – |
| Mar 24 | 208 | – |
| Jun 24 | 26.0 | -86.4 |
| Sep 24 | 13.0 | -93.4 |
| Dec 24 | 66.0 | -67.3 |
| Mar 25 | 42.0 | -79.8 |
| Jun 25 | -224 | -961.5 |
| Sep 25 | 24.0 | 84.6 |
| Dec 25 | 90.0 | 36.4 |
| Mar 26 | 213 | 407.1 |
The biggest force in the bridge: lending more.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 42 |
| More interest income | +192 |
| Costlier deposits | −41 |
| Running costs & provisions | +37 |
| Fees & other income | +38 |
| Tax | −54 |
| Provisions & everything else | −1 |
| PAT Mar 26 | 213 |
Priced mid-range against its own history
Today you pay ₹1.44 for every ₹1 of book value, against a long-run median of ₹1.60. It has traded cheaper than this only 32% of the time since 2021.pb_ratio
Data: Price-to-book over time (weekly) (sampled — full series in the embedded dataset)
| Period | P/BV (x) |
|---|---|
| Jan 21 | 1.6 |
| Mar 21 | 2.3 |
| May 21 | 1.9 |
| Jul 21 | 1.9 |
| Aug 21 | 2.0 |
| Sept 21 | 2.0 |
| Nov 21 | 2.2 |
| Dec 21 | 2.0 |
| Jan 22 | 1.8 |
| Mar 22 | 1.7 |
| Apr 22 | 1.8 |
| Jun 22 | 1.3 |
| Jul 22 | 1.2 |
| Aug 22 | 1.4 |
| Oct 22 | 1.4 |
| Nov 22 | 1.5 |
| Dec 22 | 1.6 |
| Feb 23 | 1.6 |
| Mar 23 | 1.7 |
| May 23 | 2.2 |
| Jun 23 | 2.6 |
| Jul 23 | 3.0 |
| Sept 23 | 1.9 |
| Oct 23 | 2.0 |
| Dec 23 | 1.9 |
| Jan 24 | 2.3 |
| Feb 24 | 2.1 |
| Apr 24 | 2.1 |
| May 24 | 2.0 |
| Jun 24 | 2.1 |
| Aug 24 | 1.7 |
| Sept 24 | 1.6 |
| Nov 24 | 1.4 |
| Dec 24 | 1.2 |
| Jan 25 | 1.3 |
| Mar 25 | 1.1 |
| Apr 25 | 1.2 |
| May 25 | 1.2 |
| Jul 25 | 1.2 |
| Aug 25 | 1.0 |
| Oct 25 | 1.1 |
| Nov 25 | 1.2 |
| Dec 25 | 1.2 |
| Feb 26 | 1.3 |
| Mar 26 | 1.1 |
| Apr 26 | 1.2 |
| Jun 26 | 1.4 |
| Jun 26 | 1.4 |
| Jul 26 | 1.4 |
Promoter holding dropped in one step — an event, not a slow exit
Promoters hold 0.0% (down 82 points over 7 quarters). Foreign funds own 16.9%, domestic funds 43.7%.promoters_pctfiis_pctdiis_pct
The promoter move came in a single step (Sep 23) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal.promoters_pct
Meanwhile foreign funds have been the sellers — from 22.7% to 16.9% over the window. Someone on the other side of the table disagrees; both sides count.fiis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Mar 23 | 82.0 | 22.7 | 43.0 |
| Jun 23 | 74.6 | 21.5 | 43.0 |
| Sep 23 | 0.0 | 18.2 | 43.9 |
| Dec 23 | 0.0 | 19.6 | 45.6 |
| Mar 24 | 0.0 | 19.5 | 45.2 |
| Jun 24 | 0.0 | 19.7 | 45.4 |
| Sep 24 | 0.0 | 16.9 | 43.7 |
- There is no new bad-loan cycle forming — GNPA is at or near its 8-quarter low of 2.60%.gross_npa_pct
Worth studying deeper — with eyes open
The numbers lean positive, and the price already assumes the good news continues.
Best thing in the data: profit rising (₹42.0 Cr → ₹213 Cr).net_profit
Biggest worry: foreign-fund holding falling (16.5% → 14.7%).fiis_pct
One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 85% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does Equitas Small Finance Bank Ltd do?
Equitas Small Finance Bank Ltd before acquiring small bank license, operated as a wholly-owned subsidiary of Equitas Holding Ltd. The holding entity started its operations in 2007 in the microfinance segment & diversified into vehicle & housing finance in 2011. Also entered into SME & LAP in 2013. It merged with the other two subsidiaries named Equitas Microfinance Ltd & Equitas Housing Finance Ltd & formed a bank. After receiving a license in Sept 2016 the company commenced operations under Equitas small finance Bank. [1] [2]. It is listed in the Banks - Small Finance sector with a market capitalisation of ₹8,817 Cr.
What is Equitas Small Finance Bank Ltd's share price?
As of 1 July 2026, Equitas Small Finance Bank Ltd trades at ₹77.1, up 14% over the past year, with a market capitalisation of ₹8,817 Cr. Beating NIFTY 500 for 18 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is Equitas Small Finance Bank Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates Equitas Small Finance Bank Ltd's intrinsic value at ₹35.0 per share under base assumptions (bear ₹33.0, bull ₹36.0), against the current price of ₹77.1 — a 53% premium to model value. The current price already implies roughly 39% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
Is Equitas Small Finance Bank Ltd stock overvalued or undervalued?
Equitas Small Finance Bank Ltd trades at a P/BV of 1.4× — the 32nd percentile of its own 5.6-year trading range (median 1.6×), which is below the middle of its own historical range. The price has risen while profits fell. Since Nov 2020, the stock is up 134% while earnings per share fell 68%. The difference is re-rating — investors paying more for the same rupee of profit.
What did Equitas Small Finance Bank Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 income was ₹1,836 Cr, up 12% on a year ago. A bank grows by lending more and charging well — this line is both together. Mar 26 profit was ₹213 Cr, up 407% on last year — earnings per share of ₹1.86. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is Equitas Small Finance Bank Ltd growing?
Interest income grew 12% — steady, not spectacular. Mar 26 income was ₹1,836 Cr, up 12% on a year ago. A bank grows by lending more and charging well — this line is both together.
Are Equitas Small Finance Bank Ltd's profits growing?
Profit exploded 407% year on year. Mar 26 profit was ₹213 Cr, up 407% on last year — earnings per share of ₹1.86.
How much of its interest income does Equitas Small Finance Bank Ltd keep?
The squeeze is easing — the spread bottomed at 48% and is mending. Of every ₹100 of interest the bank earns, ₹47 goes straight out as interest on deposits and borrowings. It keeps ₹53 — up 3 points from a year ago.
Is Equitas Small Finance Bank Ltd stock in an uptrend?
The price is in a confirmed uptrend — 6 weeks and counting. Equitas Small Finance Bank Ltd is in Stage 2 — advancing, 6 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is Equitas Small Finance Bank Ltd stock rising?
The price is up 14% over the past year, in a confirmed Stage 2 uptrend (6 weeks), and has beaten NIFTY 500 for 18 weeks. Since 2020, the price is up 134% while earnings per share moved -68%.
Is Equitas Small Finance Bank Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 18 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is Equitas Small Finance Bank Ltd in its business cycle?
The data reads Equitas Small Finance Bank Ltd as a deep cyclical business currently in its at trough phase — earnings at 14% of their own historical range, valuation at the 32nd percentile. Profits swing violently in this business — real losses in FY12. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns Equitas Small Finance Bank Ltd — what is the promoter holding?
Promoters hold 0.0% (down 82 points over 7 quarters). Foreign funds own 16.9%, domestic funds 43.7%. The promoter move came in a single step (Sep 23) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal. Shareholding is from Screener's quarterly filings data.
How is Equitas Small Finance Bank Ltd's asset quality?
Bad loans are stable at 2.6%. ₹2.6 of every ₹100 lent is currently stuck with borrowers who’ve stopped paying. After the money already set aside, the true exposure is 0.7%.
What is the bull case for Equitas Small Finance Bank Ltd?
From losses in FY12 to record profits — and the market still prices it like the bad old days. Best thing in the data: profit rising (₹42.0 Cr → ₹213 Cr). Interest income grew 12% — steady, not spectacular.
What is the bear case for Equitas Small Finance Bank Ltd — what could break the story?
Biggest worry: foreign-fund holding falling (16.5% → 14.7%). Two quarters of profit reversing would kill this story. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is Equitas Small Finance Bank Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: worth studying deeper — with eyes open. The numbers lean positive, and the price already assumes the good news continues. Across the 7-model scorecard the composite research signal is study deeper at 71% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.