AnnouncementSep 2026
Sep 2026 · Announcement Under Regulation 30 Of SEBI LODR Regulations, 2015 21 Aug - ESAF Small Finance Bank reconstitutes board committees effective September 1, 2026.
Source: Bse
ESAF Small Finance Bank Limited (ESAFSFB)
Small CapFinancial Services stocks · Small cap · NSE
ESAF Small Finance Bank Limited operates in Small Finance Bank, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result31 Jul, 06:48 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
68Bullishfull bull SMA stack · SMA20 +2.4% / mo · MACD + · near 52W high
Stock trend: 84
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ESAFSFBD candles · FIT view+85.6%Latest close ₹43.34 on 2026-10-19
Bar
-2.1%
RSI
55
MACD hist
0.07
52W pos
90%
2026-10-19O ₹44.28H ₹45.00L ₹43.25C ₹43.34Vol 2.8L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ESAFSFBNifty Financial ServicesNifty 500
- ESAFSFB
- +22.4%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- +28.0 pp
Chart stats
19 Oct 2026- From 52W high
- -5.8%
- 52W range position
- 90%
- ATR (14)
- 4.6%
- Volume vs 20D
- 0.37x
- Avg traded value
- ₹3.2 Cr
- 20D price channel
- ₹38.5 - ₹46
₹46
₹19.8 - ₹46
₹2
Latest completed session
20-session average
35.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED17
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average40
Revenue +32.6% · PAT NDF YoY
Technical
Bullish68
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence55
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 40/100Rev +33% YoY · +10% QoQ
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,098 Cr | +32.6% | +10.3% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹80 Cr | NDF | +233.3% |
| PAT margin | 7.3% | +1707 bps | +488 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 1.25
- EV/EBITDA
- —
- Market Cap
- 2228.00Cr
Profitability
- ROE
- -8.86%
- ROCE
- 5.65%
- ROA
- -0.02%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 1.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- -4.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- —
- Altman Z
- 1.78
- Book Value
- 34.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -1960.00 Cr
- EPS TTM
- -0.10
Shareholding
- Promoter Hold
- 63.25%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 89%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 1,098+10.4% vs prev
Net Profit
₹ CrLatest: 80.0+233.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 55. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~2.3% over last month) — short-term momentum positive.
- RSI(14) at 55 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 6% off 52W high · 119% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
91
RS percentile
Stage 2 UptrendEstablished S2
1M return
+10.6%
3M return
+22.4%
6M return
+81.4%
1Y return
+52.0%
RS 1D
0
RS 20D
+5
Sector rank
#10
Industry rank
#20
Stage evidence
- Price is 28.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +7.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
19 Jun 2026
S2 age
85 trading sessions
Sector
weakening
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 156.26-1.11%
RS vs Nifty 500156
Valuation & peers
U-Score 17 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 17 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation3/30
Growth5/25
Quality0/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
3/9 (+1)
Penalties
-1
Raw sum
17
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
17/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 3/10 to the score.
- Growth contributes 5/25 to the score.
Main drags
- Altman Z is 1.8, in distress territory.
- Penalty bucket subtracts 1 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Bank valuation: P/B adjusted for ROE and asset quality
Banks are balance-sheet businesses, so book value quality matters more than simple earnings multiples.
Primary lens
Price/book and ROE/ROA, not trailing PE alone.
Secondary checks
Capital adequacy, credit cost, NPA trend, deposit franchise.
Main risk check
Low P/B can be a trap if asset quality or credit cost is worsening.
PE
—
PB
1.3
EV/EBITDA
—
ROE
-8.9%
ROCE
5.7%
FCF Yield
—
Debt/Equity
0.1
MoS
—
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
17
Previous: 17
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
17
17
17
17
17
17
17
17
17
17
17
17
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
8.1
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
FINOPB
Small
Fino Payments Bank Limited
Banking
match 163
18
43.6
6.8%
-105%
OVERVALUED
CAPITALSFB
Small
Capital Small Finance Bank Limited
Banking
match 160
56
8.4
10.1%
+68%
FAIR VALUE
BANDHANBNK
Small
Bandhan Bank Limited
Banking
match 150
21
19.5
4.9%
-437%
OVERVALUED
JSFB
Micro
Jana Small Finance Bank Limited
Banking
match 146
45
13.9
7.6%
+53%
WATCHLIST
CSBBANK
Micro
CSB Bank Limited
Banking
match 145
52
8.0
13.5%
+68%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
ESAF Small Finance Bank Limited operates in Small Finance Bank, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
55Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 16th percentile of the scored universe and 28th percentile within Financial Services. Main check: results consistency is weak at 27/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
58 docs text-extracted · 22 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
16th percentile
overall median 67 · Financial Services: 28th pctile, median 62 · Small: 18th pctile, median 66
Evidence depth
Financial-only
58 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
62
acceptable · leverage and solvency
Discipline
40
weak · capital discipline
Results
27
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 63.3%.
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸Debt/equity is 0.10.
Trust risks
- ▸Operating cash flow is negative at ₹-1960 Cr.
- ▸Altman Z is 1.78.
- ▸4 latest quarters had PAT decline worse than 25% YoY.
- ▸ROCE is low at 5.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching ESAF Small Finance Bank Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 14 Aug - ESAF Small Finance Bank approved three director changes at AGM, effective September 1, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 22 Sep - Allotment of Equity Shares pursuant to exercise of ESOPs under ESAF Employee Stock Option Scheme 2019.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 2 Sep - Allotment of Equity Shares under ESAF Employee Stock Option Scheme 2019.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 2 Sep - CARE reaffirmed ESAF SFB ratings on ₹1,300 crore NCDs and ₹500 crore CDs; outlook revised Stable.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 18 Aug - Brickwork Ratings upgraded ESAF SFB Tier II bonds worth ₹20 crore to BWR A-/Stable on August 17, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 14 Jul - Allotment of Equity Shares under ESAF Employee Stock Option Scheme 2019.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Jul - Newspaper Publication regarding intimation of the 10th Annual General Meeting of the Bank.
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI LODR Regulations, 2015 - Clarification With Respect To Volume Movement. 17 Jun - Bank clarifies recent share volume spike is market-driven and no undisclosed material information exists.
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015. 17 Jun - ESAF Small Finance Bank clarifies spurt in share volume is market-driven, with no undisclosed material information.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.