Financial Institution industry
9 companies · ₹4.1 L cr · 6 with AI deep dives · Q1FY27 report
Bank re-intermediation compresses spreads sector-wide even as record pipelines signal volume recovery ahead
- Revenue YoY
- +3.7%
- Panel
- 8 cos
- Price, 1 year
- -14.0%
- 25% of names up
- P/E vs own 5y
- +30.9%
- 15.0x now
Exhibit 1The quarter in numbers
constant panel of 8 companies above ₹500 cr- Jun 26
- 57,598 cr
- Mar 26
- 57,102 cr
- QoQ
- +0.9%
- Jun 25
- 55,548 cr
- YoY
- +3.7%
- Peak
- 57,598 cr
- vs peak
- 0.0%
Breadth: 50% of 8 companies grew revenue year on year (was 75% a quarter earlier).
Exhibit 2What it costs
6.8x - 83.57x across the panel todayThe median name trades at 15.0x, +30.9% against this industry's own 5-year median of 11.4x, and -41.2% against its own peak of 25.5x.
Exhibit 3Structure
₹4.1 L crPower Finance Corporation Ltd is 28.1% of this industry by market cap. The top 5 are 91.5% and the top 10 are 100%.
Exhibit 5Coverage (9 of 9)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹1.1 L cr
- P/E
- 14.7x
- P/B
- 1.9x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +19.5%
- Mcap
- ₹34,573 cr
- P/E
- 8.1x
- P/B
- 1.6x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +26.6%
- Mcap
- ₹31,393 cr
- P/E
- 16.0x
- P/B
- 2.3x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +15.5%
- Mcap
- ₹6,593 cr
- P/E
- 6.4x
- P/B
- 0.6x
- NIM
- -
- Gross NPA
- -
- Rev YoY
- +27.2%
- Mcap
- ₹87 cr
- P/E
- -
- P/B
- 0.0x
- NIM
- -58.4%
- Gross NPA
- 100.0%
- Rev YoY
- -100.0%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Three of six entities named renewables as the fastest-growing portfolio segment. REC's renewable loan book grew 30% YoY to ₹75,347 cr, lifting its share of total book from 10% to…
- RECLTD (Q4FY26): “Renewable Loan Assets Increased significantly by 30% YoY”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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