Equitas Small Finance Management Guidance Tracker
12 forward-looking guidance items tracked across 3 quarters.
Growth
Management expects overall advances to grow 15-16% YoY in FY26, with secured book growing 20%+ and MFI degrowth of 15-20%.
Q3 FY26Advances growth of 15% for FY26 (ex-DA)ActiveManagement reiterated 15% YoY advances growth for the full year, excluding the one-time direct assignment purchase.
Q4 FY26Advances growth of 20%+ YoY for FY27ActiveManagement reiterated guidance of 20%+ year-on-year growth in advances for FY27, supported by improved disbursements.
Margins
Management reiterated guidance for ROA to reach around 1% by Q4 FY26, with progressive improvement thereafter.
Q1 FY26Credit cost for non-MFI book at 1-1.2%TrackedNormalized credit cost for the non-MFI book is expected to remain in the range of 1-1.2% for the rest of the year.
Q1 FY26Additional MFI credit cost of ~₹300 croreTrackedManagement expects another ~₹300 crore of credit cost on the MFI book over the remaining three quarters of FY26.
Q3 FY26Exit ROA of 1% in Q4 FY26ActiveThe bank expects to deliver a 1% return on assets in the fourth quarter, supported by lower credit costs and stable NIM.
Q3 FY26FY27 exit ROA target of 1.5%TrackedManagement guided for a 1.5% ROA exit in Q4 FY27, driven by operating leverage and credit cost normalization.
Q3 FY26Cost-to-income ratio to decline to 65% by FY27 exitTrackedThe bank expects cost-to-income to improve from ~70% (ex-labor code) to 65% by Q4 FY27 as revenue grows.
Q4 FY26FY27 ROA of 1.2-1.25% with Q4 exit at ~1.5%TrackedFull-year ROA guided at 1.2-1.25%, with Q4 FY27 exit ROA expected around 1.5%, factoring in NIM moderation and credit cost normalization.
Q4 FY26Credit cost to normalize to ~1.5% for FY27TrackedCredit cost expected to rise from Q4's 1.11% to around 1.5% for the full year due to seasonal factors and normalization.
Q4 FY26NIM to stabilize around 7%ActiveManagement expects NIM to moderate from 7.29% and stabilize around 7% due to deposit rate hikes and CD ratio management.