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>EQSFBs will continue to de-focus on the MFI segment, resulting in its mix in the overall portfolio dropping to mid single-digit vs. 12% in FY25.</li><li>Over the medium term, the MFI portfolio is expected to further dwindle to lower single digits, with the bank looking to de-risk the portfolio.</li><li>Amongst the secured products, EQSFB will continue to focus on SBL (with focus on Micro-LAP), Affordable Housing, Used CVs and Used Cars (while de-focusing on New CVs).</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.

EQSFBs will continue to de-focus on the MFI segment, resulting in its mix in the overall portfolio dropping to mid single-digit vs. 12% in FY25.Over the medium term, the MFI portfolio is expected to further dwindle to lower single digits, with the bank looking to de-risk the portfolio.Amongst the secured products, EQSFB will continue to focus on SBL (with focus on Micro-LAP), Affordable Housing, Used CVs and Used Cars (while de-focusing on New CVs).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 Limited - 07th June, 2025

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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.

<ul><li>Equitas SFB (EQUITASB) reported 3QFY25 PAT of ~INR663m (-67% YoY; 17% miss to MOFSLe) amid lower other income, partially offset by slightly lower provisions.</li><li>NII grew 4% YoY to INR8.18b (in line).</li><li>Margins contracted ~30 bp QoQ to 7.39% in 3QFY25 (18bp contributed by a drop in the MFI portfolio).</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.

Equitas SFB (EQUITASB) reported 3QFY25 PAT of ~INR663m (-67% YoY; 17% miss to MOFSLe) amid lower other income, partially offset by slightly lower provisions.NII grew 4% YoY to INR8.18b (in line).Margins contracted ~30 bp QoQ to 7.39% in 3QFY25 (18bp contributed by a drop in the MFI portfolio).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 - NII in Line; Business Growth Remains Modest

<ul><li>Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward the MFI segment (INR1b toward SMA 1&amp;2 advances and INR456m toward an additional NPA provision).</li><li>NII grew 4.8% YoY to INR8.02b (3% miss).</li><li>Margins moderated 28bp QoQ to 7.69%.</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.

Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward the MFI segment (INR1b toward SMA 1&amp;2 advances and INR456m toward an additional NPA provision).NII grew 4.8% YoY to INR8.02b (3% miss).Margins moderated 28bp QoQ to 7.69%.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 - PPoP in Line; Provisioning Surge Drives Big Earnings Miss

<ul><li>MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.</li><li>However, the management has indicated that the X-bucket Collection efficiency in Oct’24 has stabilised and expects similar trends to continue over the next 2 quarters.</li><li>However, the slippages and asset quality (AQ) stress in the MFI portfolio will continue to remain elevated in H2FY25, thereby keeping MFI credit costs elevated. </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.

MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.However, the management has indicated that the X-bucket Collection efficiency in Oct’24 has stabilised and expects similar trends to continue over the next 2 quarters.However, the slippages and asset quality (AQ) stress in the MFI portfolio will continue to remain elevated in H2FY25, thereby keeping MFI credit costs elevated. 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. - Asset Quality Outlook Unencouraging, HOLD Stays!

<ul><li>Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in deposits from FY22-FY24.</li><li>This growth has improved the bank's CD ratio from 102% in FY22 to 86% currently, and increased the retail deposit mix to 69%.</li><li>The ongoing stress in the MFI segment has impacted profitability, but MFI business exposure has reduced to ~17% from 19% in FY22.</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.

Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in deposits from FY22-FY24.This growth has improved the bank's CD ratio from 102% in FY22 to 86% currently, and increased the retail deposit mix to 69%.The ongoing stress in the MFI segment has impacted profitability, but MFI business exposure has reduced to ~17% from 19% in FY22.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 - Factoring in Near-Term Pain!

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.

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Equitas Small Finance Bank (EQUITASB IN)

Equitas Small Finance Bank Limited - 07th June, 2025

EQSFBs will continue to de-focus on the MFI segment, resulting in its mix in the overall portfolio dropping to mid single-digit vs. 12% in FY25.

Axis Direct

Equitas Small Finance Bank - NII in Line; Business Growth Remains Modest

Equitas SFB (EQUITASB) reported 3QFY25 PAT of ~INR663m (-67% YoY; 17% miss to MOFSLe) amid lower other income, partially offset by slightly lower...

Motilal Oswal

Equitas Small Finance - PPoP in Line; Provisioning Surge Drives Big Earnings Miss

Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward...

Motilal Oswal

Equitas Small Finance Bank Ltd. - Asset Quality Outlook Unencouraging, HOLD Stays!

MFI pain far from over; Recovery likely by Q1FY26: EQSFB’s SMA flow and fresh stress accretion in the MFI portfolio continue to remain elevated.

Axis Direct

Equitas Small Finance Bank - Factoring in Near-Term Pain!

Equitas Small Finance Bank (EQUITASB) has demonstrated a strong business growth trajectory with a 26% CAGR in its loan book and 38% CAGR in...

Motilal Oswal

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