Suryoday Small Finance Bank Ltd(SURYODAY)

NSE: SURYODAYBSE: 543279

₹ 129.95-1.70%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 1,381 crNext results: 29 Oct 2026Website: www.suryodaybank.comUpdated: 24 Oct 2026

About

Suryoday Small Finance Bank is an RBI-licensed small finance bank operating across 16 states and union territories of India, offering inclusive finance, secured retail lending, institutional financing, and digital credit and deposit products. It reported revenue of 2160.29 Cr in FY26 and operated 717 banking outlets as on March 31, 2026. Gross advances were ₹14,376 Cr as of Q1 FY27, up 32.5% year-on-year. The bank has established a leading position in Credit Line on UPI not only among SFBs but across the wider banking industry.^[1][2]

Business segments

Retail Banking contributed 81.9% of revenue (₹2,342.63 Cr) in FY26 with an EBIT margin of 8.6%; it is the main segment, covering inclusive finance and secured retail lending.^[3]
Treasury contributed 10.6% of revenue (₹302.75 Cr) in FY26, with an EBIT margin of 17.5%.^[3]
The Corporate segment contributed 5.7% of revenue (₹162.44 Cr) in FY26 and recorded an EBIT loss of ₹43.91 Cr.^[3]

Loan book mix and products

Vikas Loan (individual lending) made up 75% of the inclusive finance book, at ~₹4,400 Cr, after growing 46.8% in FY26. Individual loans were ~80% of monthly inclusive finance onboarding in Q1 FY27.^[1]
The mortgage book crossed ₹3,200 Cr in Q1 FY27, up from ₹3,013 Cr in Mar'26. The CV book crossed ₹1,900 Cr in Q1 FY27, up from ₹1,819 Cr in Mar'26.^[4]
Secured retail assets (CV + Mortgage) grew 40.8% YoY in Q1 FY27. Secured assets were 55% of the total portfolio as of Mar'26.^[4]
As of Mar'26, the FIG portfolio (lending to NBFCs and other financial intermediaries) stood at ₹1,424 Cr and the supply chain finance book at ₹407 Cr.^[1]
In Q1 FY27, Credit Line on UPI had ~20 lakh pre-qualified customers, 9.4 lakh sanctioned and 5 lakh utilised. It earned ₹18 Cr in convenience fees against ₹13 Cr in cost.^[4]
As of Mar'26, the bank had issued 37,723 secured credit cards backed by fixed deposits, with ₹153 Cr outstanding.^[1]

Branch network

The bank operated 717 banking outlets as on March 31, 2026, up from 710 as on March 31, 2025.^[1][5]
As of FY26, the network had 383 asset-focused branches, 137 liability-focused branches and 197 rural centres. Maharashtra had the most, with 185 branches.^[1]

Deposits and CASA

Deposits reached ₹14,634 Cr in Q1 FY27, up 29.4% YoY. Retail deposits made up 87.3% of the deposit base.^[4]
The CASA ratio was 21.0% in Q1 FY27, up 326 bps YoY.^[4]
The digital deposit book reached ₹2,222 Cr in Q1 FY27, or 15% of total deposits.^[4]

Key operating metrics

NIM was 7.2% in Q1 FY27, down from 7.9% in Q4 FY26.^[4]
The cost-to-income ratio was 70.1% in Q1 FY27, down from 73.7% in Q4 FY26. Cost of funds was 7.5% in Q1 FY27.^[4]
GNPA was 6.5% and NNPA 1.2% in Q1 FY27. Adjusted for the ₹134 Cr CGFMU receivable, GNPA was 2.9% and NNPA 0.3%.^[4]
PCR was 81.8% in Q1 FY27, up from 37.3% in Q4 FY26, after ₹387 Cr of CGFMU claims were received.^[4]
Slippages were ₹92 Cr in Q1 FY27, down from ₹106 Cr in Q4 FY26.^[4]
Credit cost was 0.8% and CRAR 20.0% in Q1 FY27.^[4]
ROA was 1.6% and ROE 14.5% in Q1 FY27.^[4]

CGFMU coverage

~99% of the inclusive finance portfolio is covered under CGFMU. Cumulative P&L mitigation from CGFMU was ~₹650 Cr as of Mar'26.^[6]
A residual CGFMU receivable of ₹134 Cr remained in Q1 FY27, and a further ₹135-150 Cr is eligible for claims in future years.^[4]

Expansion and capital plans

The bank targets adding 100 branches in FY27, with ~50 planned for Q2-Q3 FY27.^[6]
A Tier 2 capital raise was targeted to close in Q2 FY27. A Tier 1 equity raise is under evaluation, with no timeline finalised.^[4]
Mortgage coverage is planned to rise from ~25% to 40-45% of branches by the end of FY27.^[4]

FY27 guidance and operating environment

The FY27 target for gross advances growth is 30-35% YoY. Full-year ROA guidance is 1.3-1.4%.^[4]
Credit cost guidance is 0.8-1.0% for FY27, and the inclusive finance to retail assets mix is to be held at about 48:52.^[4]
The FY26 annual report says the microfinance industry portfolio contracted 17.0% YoY, while disbursements recovered in Q4 FY26.^[1]
The FY26 annual report says new SANKALP 2.0 microfinance guardrails cover pricing, discipline and over-indebtedness.^[1]

Market Cap

₹1,381 Cr

High / Low

₹218 / 115

Stock P/E

7.4

Price / Book

0.7

Book Value

₹186

EPS

₹14.3

No. of Shares

10.63 Cr

ROE

7.6%

Sales

₹2,160 Cr

Net Profit

₹152 Cr

Promoter holding

22.5%

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Suryoday Small Finance Bank Ltd(SURYODAY)

About

Business segments

Loan book mix and products

Branch network

Deposits and CASA

Key operating metrics

CGFMU coverage

Expansion and capital plans

FY27 guidance and operating environment

Signal history

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