UCO Bank (UCOBANK)
Large CapFinancial Services stocks · Large cap · NSE
UCO Bank is an Indian public sector bank offering a wide range of banking products and financial services. The bank focuses on retail, agriculture, and MSME (RAM) segments, alongside corporate lending, and is actively pursuing digital transformation to enhance efficiency and customer service.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Average · 40/100Rev +9% YoY · PAT +8% YoY · +5% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹6,996 Cr | +8.7% | +5.1% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹656 Cr | +8.1% | -18.1% |
| PAT margin | 9.4% | -5 bps | -265 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
UCO Bank reports robust advances growth of 21.18% YoY, driven by RAM segments, with significant improvement in asset quality as GNPA drops to 2.08% and NNPA to 0.25% YoY. Operating Profit surged 79.84% YoY.
The bank demonstrated strong credit growth, particularly in high-yielding RAM segments, and continued improvement in asset quality with declining NPAs and slippage ratio. Operating profit growth was exceptional, though net profit growth was more modest due to higher provisions. Digital adoption is a key focus, showing impressive growth metrics.
Domestic Advances by Segment (Jun-26)
Latest issuer-disclosed distribution across 4 reported categories.
Retail Advances Growth
Retail advances grew 27.32% YoY to 71549 Cr., with Home Loan up 19.98% YoY and Vehicle Loan up 65.45% YoY.
Agriculture Advances Growth
Agriculture advances grew 30.01% YoY to 38952 Cr., with Farm Credit up 31.01% YoY.
MSME Advances Growth
MSME advances grew 18.79% YoY to 47244 Cr.
Digital Business Growth
Total Digital Business grew 333% YoY to 34767 Cr., with Digital Advances up 6x YoY and Digital Agri-MSME Sanctions up 3x YoY.
Asset Quality Management
Despite improvements, maintaining low GNPA (2.08%) and NNPA (0.25%) requires continuous vigilance, especially with fresh additions to NPA totaling 443 Cr. in Q1 FY27.
Slippage Ratio
Slippage Ratio (annualized) was 0.63% in Jun-26, indicating ongoing asset quality challenges, though it has improved YoY.
Concentration in Corporate Advances
Corporate & Others segment constitutes 29.27% of domestic advances, with 77.99% of rated advances (above 25 Cr.) being BBB & above, but 19.53% remain unrated.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Both YoY and QoQ comparisons are crucial for a financial services company. YoY highlights underlying growth trends and structural changes, while QoQ captures sequential momentum, utilization, and the immediate impact of operational strategies and market conditions.
Global Advances Growth
Global Advances grew 21.18% YoY to 272768 Cr. and 3.81% QoQ.
Global Deposits Growth
Global Deposits grew 11.28% YoY to 332315 Cr. and 1.45% QoQ.
Net Interest Margin (NIM) Global
Global NIM improved to 3.05% in Jun-26 from 2.96% in Jun-25 and 3.00% in Mar-26.
Cost of Funds
Cost of Funds decreased to 4.36% in Jun-26 from 4.73% in Jun-25 and 4.47% in Mar-26.
Credit Growth Target
Management guidance for FY26-27 is 12-14% YoY credit growth, against actual 21.18% in Jun-26 Qtr.
Deposit Growth Target
Management guidance for FY26-27 is 10-12% YoY deposit growth, against actual 11.28% in Jun-26 Qtr.
Capital Raising Plan
Plans to raise up to Rs. 2700 Cr in Equity Capital and up to Rs. 5000 Cr in Bonds for FY2026-27.
Digital Transformation
Continuing 'Parivartan journey' to accelerate digital innovation, enhance efficiency, and deliver business impact, with 31 digital journeys live and 4 more upcoming.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Global Advances Growth | 21.18% YoY | Sustained growth above 12-14% guidance, particularly in RAM segments, without compromising asset quality. |
| Net Interest Margin (NIM) Global | 3.05% | Maintenance or further improvement in NIM, indicating effective asset-liability management and pricing power. |
| Net NPA (%) | 0.25% | Continued reduction in Net NPA and slippage ratio, demonstrating effective recovery and proactive asset quality management. |
| Digital Business Growth | 333% YoY | Continued high growth in digital advances and liabilities, indicating successful digital adoption and market penetration. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
19Strong Bearfull bear SMA stack · SMA20 -2.8% / mo · MACD −
Technical chart
UCOBANKdaily · 1Y · AUTO-9.8%Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 36.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~2.9% over last month) — short-term momentum negative.
- RSI(14) at 36 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 28% off 52W high · 12% 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.
Relative Strength & Trend Stage
- Price is 5.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.6%.
- Both 3-month and 6-month returns are negative.
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Fair-value margin of safety is positive at 54.7%.
- Valuation contributes 23/30 to the score.
- Growth contributes 16/25 to the score.
Main drags
- Altman Z is 1.8, in distress territory.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
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.
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.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 85th percentile within Financial Services. Main check: financial discipline is weak at 56/100.
Healthy Trust Lite: Promoter holding is 91%. Key concern: Altman Z is 1.77.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Financial Services: 85th pctile, median 62 · Large: 51st pctile, median 73
59 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead 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.
Trust positives
- ▸Promoter holding is 91%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.3%.
- ▸4 years of positive FCF.
Trust risks
- ▸Altman Z is 1.77.
- ▸ROCE is low at 5.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 12.60
- P/B
- 1.01
- EV/EBITDA
- 192.15
- Market Cap
- 31073.00Cr
Profitability
- ROE
- 8.50%
- ROCE
- 5.76%
- ROA
- 0.68%
- Dividend Y
- 1.78%
Growth (CAGR)
- Revenue 5Y
- 14.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 37.00%
Balance Sheet
- Debt/Equity
- 0.09
- Interest Coverage
- —
- Altman Z
- 1.77
- Book Value
- 24.60
Cash Flow
- FCF Yield
- 2.34%
- FCF Positive Y
- 4/5
- OCF
- 1002.00 Cr
- EPS TTM
- 1.97
Shareholding
- Promoter Hold
- 90.95%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 22%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable names in Financial Services, ranked by similarity
Peers
Business-comparable names in Financial Services, ranked by similarity
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.