AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Oct - UCO Bank reported Q2 FY27 net profit of Rs.786 crore, up 26.77%, with business at Rs.6,37,280 crore.
Source: Bse
UCO Bank (UCOBANK)
Large CapFinancial Services stocks · Large cap · NSE
UCO Bank is an Indian public sector bank offering a wide range of financial services. In Q2 FY27, the bank demonstrated strong growth across advances and deposits, coupled with significant improvements in asset quality and profitability, driven by strategic digital initiatives and a diversified loan portfolio.
Data qualityFresh enough for analysisQuote updated 21 Oct, 02:01 pm ISTDetails
Quote21 Oct, 02:01 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result15 Oct, 01:16 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
40NeutralSMA20 -4.9% / mo · MACD + · near 52W low
Stock trend: 37
Sector RS: 46
Sector 3M: -6.0% vs Nifty 500 -6.1%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
UCOBANKD candles · FIT view-11.8%TODAY · PROVISIONALLatest price ₹23.15 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.0%
RSI
42
MACD hist
0.09
52W pos
8%
2026-10-21O ₹23.87H ₹23.87L ₹23.06C ₹23.15Vol 39.8L shIntraday candle
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
UCOBANKNifty Financial ServicesNifty 500
- UCOBANK
- -11.4%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -5.8 pp
Chart stats
19 Oct 2026- From 52W high
- -31.0%
- 52W range position
- 12%
- ATR (14)
- 2.5%
- Volume vs 20D
- 1.21x
- Avg traded value
- ₹10.7 Cr
- 20D price channel
- ₹22.8 - ₹24.8
₹34.2
₹22.2 - ₹34.2
₹0.6
Latest completed session
20-session average
20.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE59
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good60
Revenue +25.0% · PAT +26.7% YoY
Technical
Neutral40
Price trend and sector-relative-strength timing.
Valuation
Legacy model+68.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
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 Sept 2026
Good · 60/100Rev +25% YoY · PAT +27% YoY
Filed 15 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹8,174.1 Cr | +25.0% | -5.8% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹785.6 Cr | +26.7% | +19.7% |
| PAT margin | 9.6% | +13 bps | +205 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 9.98
- P/B
- 0.96
- EV/EBITDA
- 187.92
- Market Cap
- 29756.38Cr
Profitability
- ROE
- 8.50%
- ROCE
- 5.76%
- ROA
- 0.68%
- Dividend Y
- 1.87%
Growth (CAGR)
- Revenue 5Y
- 11.00%
- EPS 5Y
- 11.00%
- Revenue 3Y
- 19.00%
- EPS 3Y
- 37.00%
Balance Sheet
- Debt/Equity
- 0.09
- Interest Coverage
- —
- Altman Z
- 1.76
- Book Value
- 24.60
Cash Flow
- FCF Yield
- 2.44%
- FCF Positive Y
- 4/5
- OCF
- 1002.00 Cr
- EPS TTM
- 2.38
Shareholding
- Promoter Hold
- 90.95%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 12%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 8,174-5.9% vs prev
Net Profit
₹ CrLatest: 786+19.7% 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
Bearish setupTrend is weak — long-term trend down. RSI 42.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.8% over last month) — short-term momentum negative.
- RSI(14) at 42 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
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
22
RS percentile
Stage 4 Downtrend
1M return
-0.6%
3M return
-11.4%
6M return
-12.7%
1Y return
-28.0%
RS 1D
0
RS 20D
+6
Sector rank
#9
Industry rank
#9
Stage evidence
- Price is 7.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 81.57+0.53%
RS vs Nifty 50082
Valuation & peers
U-Score 59 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 59 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation25/30
Growth15/25
Quality0/20
Balance Sheet7/15
Cash Flow6/10
Piotroski
7/9 (+5)
Penalties
1
Raw sum
59
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
59/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 68.2%.
- Valuation contributes 25/30 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.
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
10.0
PB
1.0
EV/EBITDA
187.9
ROE
8.5%
ROCE
5.8%
FCF Yield
2.4%
Debt/Equity
0.1
MoS
+68.2%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
59
Previous: 57 (+2)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+68.2%
Previous: +67.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
52
52
52
52
52
52
51
54
57
57
57
57
Factor attribution
Valuation
25+2
was 23
Modelled fair value
Graham Number
₹36.3
+36.2% MoS
Growth-justified P/E
30.6
Growth-justified Value
₹72.83
+68.2% MoS
PEG
0.57
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
CENTRALBK
Large
Central Bank of India
Banking
match 167
68
6.2
11.9%
+76%
UNDERVALUED
IOB
Large
Indian Overseas Bank
Banking
match 157
64
10.1
15.6%
+61%
UNDERVALUED
BANKINDIA
Large
Bank of India
Banking
match 157
72
5.0
12.4%
+79%
UNDERVALUED
PSB
Small
Punjab & Sind Bank
Banking
match 157
53
10.1
9.6%
+60%
FAIR VALUE
MAHABANK
Large
Bank of Maharashtra
Banking
match 156
64
8.5
22.6%
+68%
UNDERVALUED
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
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-19T07:46:11.789Z
Management commentary snapshot
UCO Bank reports robust Q2 FY27 with 24.7% YoY advances growth, 26.8% YoY net profit increase, and significant asset quality improvement, surpassing key guidance metrics.
Management delivered strong Q2 FY27 results, surpassing guidance on advances growth, asset quality, and profitability. While CASA ratio slightly dipped QoQ, overall business and NII growth remain robust, supported by digital initiatives and a healthy capital base, indicating the thesis is intact.
Current business mix
Advances by Segment
Latest issuer-disclosed distribution across 2 reported categories.
RAM (Retail, Agri, MSME)65.0%
Corporate35.0%
Growth engines
Retail Advances
Retail advances grew by 30.23% year-on-year, driven by both customer volume and increased average ticket size (e.g., housing loan average ticket size grew to ~Rs.45 lakh).
Agriculture Advances
Agriculture advances grew by 29.59% year-on-year.
MSME Advances
MSME advances grew by 20.32% year-on-year.
Corporate Advances
Corporate advances grew by 24.15% year-on-year, with a sanctioned pipeline of around Rs.10,000 crore.
Capacity and execution
Branch Network Expansion
Added 27 branches, bringing the total network to 3,439 branches.
International Banking Unit (IBU)
Opened a GIFT City IBU in the current quarter, complementing existing Hong Kong and Singapore branches.
Tailwinds
Repo Rate Hike Benefit
66% of the advances portfolio is linked to the repo rate (EBLR), allowing immediate pass-through of rate hikes to improve yield and NII.
Digital Initiatives
Launched CBDC marketplace, CBDC IVR services, robotic process automation (RPA), digital marketing solution, UPI Tap and Pay, UPI Help 2.0, and UPI automatic surveillance system.
CASA Strengthening MOUs
Entered MOUs with Bihar and Rajasthan state governments for employee salary accounts to strengthen CASA position.
Headwinds
Hardening Treasury Yields
Hardening yields, both in India and globally, have impacted treasury profitability, though the FVTPL book is limited.
Increased Cost of Funds
Cost of funds increased somewhat to 4.44% for the quarter.
Risk radar
ECL Transition Provisioning
Estimated ECL requirement for April 1, 2027 transition is around Rs.3,200 crore, with approximately Rs.2,500 crore already provisioned.
Deposit Rate Hike Pressure
While no immediate need, future deposit rate increases could impact NIM, depending on market conditions and deposit mobilization requirements.
Treasury Volatility
Treasury profitability remains sensitive to yield movements, though the FVTPL portfolio is controlled.
Management accountability
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.
Analyst reading lens
Compare BOTH
Many key financial metrics like advances, deposits, net profit, NII, and asset quality ratios are explicitly compared year-on-year, indicating long-term performance trends. Quarterly comparisons are relevant for sequential momentum in slippages and CASA.
Sector KPIs management disclosed
Total Business Growth
Total business reached Rs.6,37,280 crore, registering a growth of 18.81% year-on-year.
Global Advances Growth
Global advances grew by 24.70% year-on-year, reaching Rs.2,87,690 crore, exceeding guidance of 12-14%.
Net Interest Margin (NIM)
Global NIM maintained at 3% for the quarter; domestic NIM maintained at 3.19%.
Gross NPA Ratio
Gross NPA ratio reduced year-on-year by 60 basis points to 1.96%, achieving guidance of less than 2% ahead of schedule.
Management forward view
Sustained Growth Momentum
Management aims to maintain the current pace of advances growth, exceeding the initial guidance of 12-14% for the year.
NIM Outlook
Expects to sustain global NIM beyond 3% and domestic NIM beyond 3.19% due to the repo rate hike pass-through on EBLR-linked advances.
Asset Quality Maintenance
Expects to maintain credit cost below 0.75% and slippage ratio below 1% for the current financial year.
Overseas Business Contribution
Anticipates reasonable growth from all three international centers: Hong Kong, Singapore, and the newly opened GIFT City IBU.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Credit Cost | 0.65% | Maintenance below the guidance of 0.75% for the full year. |
| Slippage Ratio | 0.85% | Maintenance below the guidance of 1% for the full year, especially outside of seasonal agri marking. |
| CASA Ratio | 36.77% | Stabilization or improvement in the CASA ratio, given the slight QoQ dip and focus on MOUs. |
| ECL Provisioning | ~Rs.2,500 crore provisioned against ~Rs.3,200 crore requirement | Further provisioning in upcoming quarters to meet the full ECL transition requirement by April 2027. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited 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 72nd percentile of the scored universe and 84th percentile within Financial Services. Main check: financial discipline is weak at 56/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
63 docs text-extracted · 32 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Financial Services: 84th pctile, median 62 · Large: 51st pctile, median 73
Evidence depth
Financial-only
63 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
Acceptable, but check the weakest sub-score before increasing exposure.
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
77
strong · profit to cash conversion
Balance sheet
62
acceptable · leverage and solvency
Discipline
56
watch · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 91%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.4%.
- ▸4 years of positive FCF.
Trust risks
- ▸Altman Z is 1.76.
- ▸ROCE is low at 5.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching UCO Bank
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Interest Rates Updates 7 Sep - UCO Bank revised select benchmark rates from 07.09.2026; MCLR unchanged, TBLR and G-Sec-linked rates updated.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 13 Aug - Central Government appoints Shri Manohar Lal Paliwal as UCO Bank part-time non-official director for three years from 12 Aug 2026.
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 5 Aug - Infomerics reaffirmed UCO Bank’s AA-/Positive AT1 bond rating and AA/Positive issuer rating on 04 Aug 2026.
Source: Bse
Credit ratingAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 14 Aug - CRISIL reaffirmed UCO Bank’s A1+ rating for ₹10,000 crore CD programme on 14 Aug 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Interest Rates Updates 7 Aug - UCO Bank revises TBLR 3-month to 5.25%, 12-month to 5.65%, G-Sec rates effective 07 Aug 2026.
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Jul - UCO Bank will hold a post-earnings analyst call on 23 July 2026 at 3:30 PM.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Interest Rates Updates 9 Jul - UCO Bank revises MCLR, TBLR and G-Sec-linked rates effective 10 July 2026; other benchmark rates unchanged.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 1d - UCO Bank Q1 FY27 net profit rose 8.05% to Rs.656 crore; business grew 15.53% year-on-year.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 19 Jun - Rajendra Kumar Saboo gets additional charge as MD & CEO from 19 June 2026 till 31 August 2026.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.