External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Equitas Small Finance Bank / Equity Bottom-Up

<ul><li>Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).</li><li>Advances growth was robust at 36/6% YoY/QoQ and was broad-based.</li><li>Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness).Advances growth was robust at 36/6% YoY/QoQ and was broad-based.Key focus segments such as MFI/SBL/Home Loans grew by 40/31/76% YoY and 8/7/12% QoQ. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

Utkarsh Small Finance Bank / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/utkarsh-small-finance-bank-ltd" target="_blank" data-smartkarma-citation="entities:39909:1" rel="noopener">Utkarsh Small Finance Bank (1639303D IN)</a> IPO opens for subscription this week.</li>
<li>The company currently is fifth largest SFB in India and has demonstrated robust growth in loan portfolio, deposits and improved productivity in the last two years.</li>
<li>However, one must be cautious of the write offs worth INR 6 bn done in the last two years which benefitted the NPAs</li>
</ul>



Utkarsh Small Finance Bank (1639303D IN) IPO opens for subscription this week.
The company currently is fifth largest SFB in India and has demonstrated robust growth in loan portfolio, deposits and improved productivity in the last two years.
However, one must be cautious of the write offs worth INR 6 bn done in the last two years which benefitted the NPAs


Utkarsh Small Finance Bank IPO- Forensic Analysis

<ul><li>EQSFB reported a strong operational performance registering a robust advances growth of 36/13% YoY/QoQ, driven by strong disbursement growth of 81/23% YoY/QoQ.</li><li>Advances growth was driven by healthy growth in key focus segments of MFI/Vehicle Finance/SBL/Housing which grew by 34/38/28/75% YoY.</li><li>Thus, driven by healthy advances growth and stable NIMs (~9.1%, flat YoY, +10bps QoQ), EQSFB’s NII grew by 28/9% YoY/QoQ.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EQSFB reported a strong operational performance registering a robust advances growth of 36/13% YoY/QoQ, driven by strong disbursement growth of 81/23% YoY/QoQ.Advances growth was driven by healthy growth in key focus segments of MFI/Vehicle Finance/SBL/Housing which grew by 34/38/28/75% YoY.Thus, driven by healthy advances growth and stable NIMs (~9.1%, flat YoY, +10bps QoQ), EQSFB’s NII grew by 28/9% YoY/QoQ.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equitas Small Finance Bank Ltd - Robust Quarter

<ul><li>In Q4FY23, EQSFB reported a robust advances growth of 36/13% YoY/QoQ, which stood ahead of the management’s guidance of 25-30%.</li><li>We expect the bank to sustain this growth momentum and clock an excellent credit growth of ~27% CAGR over FY23-25E.</li><li>The said growth will be primarily led by the Housing, SBL, Vehicle Finance and Used Cars segment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q4FY23, EQSFB reported a robust advances growth of 36/13% YoY/QoQ, which stood ahead of the management’s guidance of 25-30%.We expect the bank to sustain this growth momentum and clock an excellent credit growth of ~27% CAGR over FY23-25E.The said growth will be primarily led by the Housing, SBL, Vehicle Finance and Used Cars segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - Equitas Small Finance Bank Ltd.

<ul><li>Q3FY23 Recap: EQSFB reported a strong operational performance, registering a robust disbursement growth of 68/25% YoY/QoQ, which was primarily driven by non-MFI disbursement growth of 87/20% YoY/QoQ.</li><li>Healthy disbursement growth translated into an advances growth of 27/9% YoY/QoQ.</li><li>Margins remained stable at 9% as NII growth was healthy at 20/6% YoY/QoQ. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q3FY23 Recap: EQSFB reported a strong operational performance, registering a robust disbursement growth of 68/25% YoY/QoQ, which was primarily driven by non-MFI disbursement growth of 87/20% YoY/QoQ.Healthy disbursement growth translated into an advances growth of 27/9% YoY/QoQ.Margins remained stable at 9% as NII growth was healthy at 20/6% YoY/QoQ. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equitas Small Finance Bank Ltd. - Pushing the Growth Pedal, Ripe for Re-Rating!

India

Equitas Small Finance Bank Ltd. is a Chennai-based banking institution that evolved from a microfinance company into a full-service small finance bank. It focuses on serving individuals and small businesses often underserved by traditional banking channels, offering products like microfinance, small business loans, vehicle finance, and housing finance. The bank was founded in 2007, and its banking operations commenced in 2016.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Equitas Small Finance Bank (EQUITASB IN)

Equitas Small Finance Bank Ltd. - Eyeing RoA of 2% Despite Margin Pressures!

Disbursements grew by 47% YoY but de-grew by 20% QoQ (seasonal weakness). Advances growth was robust at 36/6% YoY/QoQ and was broad-based.

Axis Direct

Utkarsh Small Finance Bank IPO- Forensic Analysis

Utkarsh demonstrated robust growth in loan portfolio, deposits and improved productivity in the last two years. However one must be cautious of the...

Nitin Mangal

Equitas Small Finance Bank Ltd - Robust Quarter

EQSFB reported a strong operational performance registering a robust advances growth of 36/13% YoY/QoQ, driven by strong disbursement growth of 81...

Axis Direct

Pick of the Week - Equitas Small Finance Bank Ltd.

In Q4FY23, EQSFB reported a robust advances growth of 36/13% YoY/QoQ, which stood ahead of the management’s guidance of 25-30%.

Axis Direct

Equitas Small Finance Bank Ltd. - Pushing the Growth Pedal, Ripe for Re-Rating!

Healthy disbursement growth translated into an advances growth of 27/9% YoY/QoQ. Margins remained stable at 9% as NII growth was healthy at 20/6%...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)