Gross Loan Book
₹40,655 crore
+26.6% YoY
Driven by strong disbursements of ₹9,811 crore in Q4, the highest ever.
UJJIVANSMALLFINANCEBANK
Financial Services
23 Apr 2026
Ujjivan Small Finance Bank Limited — Q4 FY26
Ujjivan SFB delivered a strong Q4 FY26 with total income of ₹2,186 crore (+18.6% YoY) and PAT of ₹282 crore, driven by robust loan growth of 26.6% YoY and NIM expansion to 8.5%.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Ujjivan SFB delivered a strong Q4 FY26 with total income of ₹2,186 crore (+18.6% YoY) and PAT of ₹282 crore, driven by robust loan growth of 26.6% YoY and NIM expansion to 8.5%. The secured portfolio mix improved to 49.4% (up from 43.5% YoY), aided by 43.5% growth in secured advances. Asset quality stabilized with GNPA at 2.27% and credit cost improving to 2.2% for FY26. Management guided for FY27 advances growth of ~25%, credit cost moderation to 1.4-1.5%, and ROA of ~1.6%, with NIM expected to remain near current levels. Key risks include potential margin compression from mix shift and elevated opex from branch expansion (140 new branches) and technology investments.
Key Numbers
Secured Portfolio Mix
49.4%
+590bps YoY
Secured book grew 43.5% YoY, reflecting strategic shift towards secured lending.
CASA Ratio
28.6%
+175bps YoY
Improved due to higher savings account growth; management targets ~30% for FY27.
Gold Loan Growth
292% YoY
+292% YoY
Rapid scaling of newer business lines; gold loan yields are above 14%.
Management Guidance
Advances growth of ~25% in FY27
Management expects overall loan book to grow around 25% in FY27, with secured book growing faster and microfinance at high single digits.
Management guidance growthCredit cost to moderate to 1.4%-1.5% of average gross loan book
Credit cost guidance for FY27 is 1.4-1.5%, down from 2.2% in FY26, reflecting improving asset quality.
Management guidance marginsROA target of ~1.6% for FY27
Return on assets expected at 1.6% for FY27, down from exit Q4 ROA of 2.1% due to investments in branches and technology.
Management guidance marginsNIM to remain around 8.5% in FY27
Net interest margin expected to be stable near Q4 FY26 levels, supported by cost of fund benefits and higher-yielding secured products.
Management guidance marginsKey Risks
ROA compression from investments
Management guided ROA down to 1.6% from exit 2.1% due to branch expansion (140 new branches) and technology spend, which may pressure near-term profitability.
medium · management_commentaryMargin pressure from secured mix shift
Analysts questioned how NIM can remain stable despite secured book (lower yield) growing faster; management cited cost of fund benefits and higher-yielding products like gold loans.
medium · analyst_questionGeopolitical risks from West Asia conflict
Management acknowledged potential second-order impacts on portfolio, though first-order exposure is minimal; they have stress-tested and tightened monitoring.
low · management_commentaryDeposit competition and cost of funds
Analyst raised concern about intense deposit competition; management stated no current stress but will monitor and recalibrate if needed.
medium · analyst_questionNotable Quotes
We shall continue to engage with the RBI and reapply as per their constructive guidance at an appropriate time demonstrating a diversified portfolio.
Our secured portfolio would be a little upwards of 56 percentages.
We are being conservative on both our opex and our credit cost and our guidance is coming from that place.
Frequently Asked Questions
What was Ujjivan Small Finance's revenue in Q4 FY26?
Ujjivan Small Finance reported revenue of ₹2,186 Cr in Q4 FY26, representing a +18.6% change compared to the same quarter last year.
What guidance did Ujjivan Small Finance management give for FY27?
Advances growth of ~25% in FY27: Management expects overall loan book to grow around 25% in FY27, with secured book growing faster and microfinance at high single digits. Credit cost to moderate to 1.4%-1.5% of average gross loan book: Credit cost guidance for FY27 is 1.4-1.5%, down from 2.2% in FY26, reflecting improving asset quality. ROA target of ~1.6% for FY27: Return on assets expected at 1.6% for FY27, down from exit Q4 ROA of 2.1% due to investments in branches and technology. NIM to remain around 8.5% in FY27: Net interest margin expected to be stable near Q4 FY26 levels, supported by cost of fund benefits and higher-yielding secured products.
What are the key risks for Ujjivan Small Finance in FY27?
Key risks include ROA compression from investments — Management guided ROA down to 1.6% from exit 2.1% due to branch expansion (140 new branches) and technology spend, which may pressure near-term profitability.; Margin pressure from secured mix shift — Analysts questioned how NIM can remain stable despite secured book (lower yield) growing faster; management cited cost of fund benefits and higher-yielding products like gold loans.; Geopolitical risks from West Asia conflict — Management acknowledged potential second-order impacts on portfolio, though first-order exposure is minimal; they have stress-tested and tightened monitoring.; Deposit competition and cost of funds — Analyst raised concern about intense deposit competition; management stated no current stress but will monitor and recalibrate if needed..
Did Ujjivan Small Finance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Ujjivan Small Finance Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.