Ujjivan Small Finance Bank Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Ujjivan Small Finance Bank Ltd filed with BSE on 28 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Ujjivan Small Finance Bank reported Q1 FY27 profit after tax of Rs 317 crores with ROA of 2.2% and ROE of 18.2%, alongside 25% year-on-year deposit growth and a gross loan book of Rs 42,903 crores, up 28.9% year-on-year. Management raised its FY27 ROA guidance to 1.8%-2% and revised the FY27 credit-cost guidance down to 0.9%-1% of average total assets, citing improving collection efficiency and lower slippages. The bank also reported secured loans reaching 50.4% of the loan book, gold loan growth of 248.6% year-on-year, and stable net interest margin at 8.5%.
Numbers mentioned
Profit after tax: INR317 crores (Q1 FY27)
p. 5
“translated into a healthy financial performance with profit after tax at INR317 crores, resulting in ROA of 2.2% and ROE of 18.2%.”
Carol Furtado, page 5 of the filed PDF · View the filing
Deposit book: INR48,129 crores (Q1 FY27)
p. 4
“We delivered highest Y-o-Y growth in deposits at 25% in the last couple of years, taking the deposit book to INR48,129 crores.”
Carol Furtado, page 4 of the filed PDF · View the filing
CASA deposits: INR12,930 crores, up 37.8% year-on-year (Q1 FY27)
p. 4
“CASA deposits grew to INR12,930 crores, up 37.8% year-on-year.”
Carol Furtado, page 4 of the filed PDF · View the filing
Gross loan book: INR42,903 crores (Q1 FY27)
p. 4
“The bank level gross loan book reached INR42,903 crores, growing 28.9% year-on-year and 5.5% quarter-on-quarter.”
Carol Furtado, page 4 of the filed PDF · View the filing
Disbursements: INR9,245 crores, up 41.4% year-on-year (Q1 FY27)
p. 4
“Disbursements for the quarter were at INR9,245 crores, up 41.4% year-on-year.”
Carol Furtado, page 4 of the filed PDF · View the filing
Secured book: INR21,638 crores, up 42.7% year-on-year (Q1 FY27)
p. 4
“expanded to INR21,638 crores, up 42.7% year-on-year and 7.8% quarter-on-quarter.”
Carol Furtado, page 4 of the filed PDF · View the filing
Bucket X collection efficiency: 99.68% (Q1 FY27)
p. 4
“bucket X collection efficiency for the quarter stood at 99.68%, demonstrating a healthy portfolio.”
Carol Furtado, page 4 of the filed PDF · View the filing
Gold loan book: INR1,020 crores, up 248.6% year-on-year (Q1 FY27)
p. 5
“Gold gross loan book stood at INR1,020 crores, up 248.6% year-on-year.”
Carol Furtado, page 5 of the filed PDF · View the filing
Vehicle loan book: INR1,036 crores, up 85.1% year-on-year (Q1 FY27)
p. 5
“The vehicle gross loan book stood at INR1,036 crores, up 85.1% year-on-year.”
Carol Furtado, page 5 of the filed PDF · View the filing
GNPA: 2.17% (Q1 FY27)
p. 5
“Bank level asset quality continued to be stable during the quarter with GNPA reducing by 10 bps to 2.17%.”
Carol Furtado, page 5 of the filed PDF · View the filing
Provision coverage ratio: 85% (Q1 FY27)
p. 5
“Provision coverage ratio strengthened further to 85%, providing adequate coverage across secured and unsecured products.”
Carol Furtado, page 5 of the filed PDF · View the filing
Write-offs: INR72 crores (Q1 FY27)
p. 5
“Write-offs for the quarter stood at INR72 crores.”
Carol Furtado, page 5 of the filed PDF · View the filing
Credit costs: INR127 crores (Q1 FY27)
p. 5
“Credit costs came in at INR127 crores.”
Carol Furtado, page 5 of the filed PDF · View the filing
Net interest income: INR1,186 crores (Q1 FY27)
p. 6
“Net interest income increased to INR1,186 crores, while net interest margin remained stable at 8.5%.”
Carol Furtado, page 6 of the filed PDF · View the filing
Cost of funds: 6.86% (Q1 FY27)
p. 4
“Cost of funds continued the downward trajectory and stood at 6.86% for the quarter.”
Carol Furtado, page 4 of the filed PDF · View the filing
Liquidity coverage ratio: around 132% (Q1 FY27)
p. 4
“We remain in sound liquidity health with liquidity coverage ratio around 132% for the quarter, reflecting a well-balanced approach towards growth and liquidity management.”
Carol Furtado, page 4 of the filed PDF · View the filing
MFI provision coverage ratio: about 95% (Q1 FY27)
p. 15
“It's in the range of about 95% for MFI.”
Ashish Goel, page 15 of the filed PDF · View the filing
MFI annualized slippages: 1.72% (Q1 FY27)
p. 18
“So, on an annualized basis, the slippages is about 1.72%, which was 2.68% in Q4, again, on an annualized basis.”
Ashish Goel, page 18 of the filed PDF · View the filing
MFI provisions held: INR657 crores (Q1 FY27)
p. 18
“Your question related to provisions held is about INR657 crores.”
Ashish Goel, page 18 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
ROA — 1.8% to 2% · FY27
stated firmly by Carol Furtado
p. 6
“we are confident in raising our FY '27 ROA guidance to 1.8% to 2%.”
Carol Furtado, page 6 of the filed PDF · View the filing
Credit cost — 0.9% to 1% of average total assets · FY27
stated firmly by Carol Furtado
p. 6
“we are revising our FY '27 credit-cost guidance to 0.9% to 1% of average total assets.”
Carol Furtado, page 6 of the filed PDF · View the filing
Asset growth — 25% · FY27
stated firmly by Carol Furtado
p. 6
“reinforced our confidence in achieving our FY '27 planned asset growth of 25%.”
Carol Furtado, page 6 of the filed PDF · View the filing
Opex to average total assets — around 6.4% · FY27
stated firmly by Carol Furtado
p. 6
“This deferred commencement of expenses, coupled with ongoing efficiency gains will result in full year opex to be lower than earlier planned and now would be around 6.4% of average assets.”
Carol Furtado, page 6 of the filed PDF · View the filing
Capacity building spend — around INR250 crores · FY27
stated firmly by Sadananda Kamath
p. 9
“We already had informed you that we are planning to spend around INR250 crores.”
Sadananda Kamath, page 9 of the filed PDF · View the filing
Secured loan mix — 56% · March '27
stated firmly by Ashish Goel
p. 14
“Ashlesh, we maintain the same guidance of 56%. 56% of secured by exit March '27.”
Ashish Goel, page 14 of the filed PDF · View the filing
Bulk deposit ratio — around 30%
stated firmly by Brajesh Cherian
p. 14
“Our bulk deposit ratio is about 30% and our guiding factor is to keep it in and around 30%.”
Brajesh Cherian, page 14 of the filed PDF · View the filing
Gold loan disbursement run rate — about INR230 crores to INR250 crores a month · exit March
stated conditionally by Ashish Goel
p. 8
“About INR230 crores to INR240 crores, INR250 crores month exit March. This would actually result in the book getting increased.”
Ashish Goel, page 8 of the filed PDF · View the filing
Opex to average total assets — beyond FY27
stated as an aspiration by Sadananda Kamath
p. 15
“But going forward, yes, the investments would be slightly lesser. So you will see an improvement there.”
Sadananda Kamath, page 15 of the filed PDF · View the filing
CASA ratio — closer to 30%
stated as an aspiration by Hitendra Jha
p. 14
“we are, whatever we had projected, we are very much committed or we may over deliver slightly.”
Hitendra Jha, page 14 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said its semi-urban/urban focus and ticket size mix has helped maintain yields despite competitive pressure
Answered by Ashish Goel
Asked by Renish Bhuva: Whether the bank can sustain affordable housing yields amid rising competition
p. 7
“There is definitely some competitive pressure. And however, we feel confident that in the markets that we are, we should be able to maintain the yields.”
Ashish Goel, page 7 of the filed PDF · View the filing
Management said only a marginal increase is expected, already factored into ROA guidance
Answered by Brajesh Cherian
Asked by Shreepal Doshi: Whether cost of funds will rise further given tight liquidity
p. 8
“We don't see a very significant increase, but marginal increase has been expected.”
Brajesh Cherian, page 8 of the filed PDF · View the filing
Management confirmed the INR250 crore spend plan and said NIM guidance given earlier in the year still holds
Answered by Sadananda Kamath
Asked by Rajiv Mehta: How much will be spent on capacity building and is NIM compression budgeted
p. 10
“So you can go ahead with the guidance of the NIM, which we already gave at the beginning of the year and which we have recorded in the first quarter.”
Sadananda Kamath, page 10 of the filed PDF · View the filing
Management pointed to sustained 99.7% bucket X collection efficiency and stable July trends
Answered by Ashish Goel
Asked by Kaushik Agarwal: What gives confidence to cut the credit cost guidance and how is MFI performing amid weather risks
p. 11
“The trends in July are remaining roughly the same. So therefore, we feel that this trend will continue.”
Ashish Goel, page 11 of the filed PDF · View the filing
Management said the bank will continue in the current ticket size band for this year, with further increases possible only next year
Answered by Ashish Goel
Asked by Abhishek Murarka: Where does the MSME ticket size increase stop given falling yields
p. 13
“But this year, probably we'll be working in the same band.”
Ashish Goel, page 13 of the filed PDF · View the filing
Management said retail TD is now cheaper than bulk TD and momentum is building in retail
Answered by Hitendra Jha
Asked by Ashlesh Sonje: What is the current bulk versus retail term deposit cost comparison
p. 14
“Now it is definitely cheaper than bulk TD, okay? And we are now getting good momentum in retail TD, and we plan to continue momentum in retail TD now.”
Hitendra Jha, page 14 of the filed PDF · View the filing
Management cited stabilization across states, consistent collection efficiency, and reduced leverage among borrowers
Answered by Ashish Goel
Asked by Pritesh Bumb: What is driving the improvement in credit cost guidance across MFI portfolio
p. 15
“The guardrails have also led to a very minimal four lender and above. So it's now below 1.5%. So there is no overleverage in the market.”
Ashish Goel, page 15 of the filed PDF · View the filing
Management pointed to reduced slippages and steady collection efficiency as the drivers
Answered by Ashish Goel
Asked by Sagar Shah: Is the credit cost guidance revision driven by healthy recoveries in MFI
p. 18
“So with the reduction in the slippages, we have, therefore, seen a much better one, bucket X collection efficiency improving, remaining steady, two slippages coming down.”
Ashish Goel, page 18 of the filed PDF · View the filing
Risks flagged
Weather-related uncertainty and possible delay in kharif sowing affecting H2 economic activity
p. 3
“On the local front, the weather-related uncertainties continue to pose risk due to strengthening of El Nino in the months ahead.”
Carol Furtado, page 3 of the filed PDF · View the filing
Continued competitive intensity in CASA mobilization and pricing pressure on asset products affecting margins
p. 6
“We remain mindful of the prevailing funding rate environment and the continued competitive intensity in CASA mobilization, along with pricing pressures across key asset products and the resulting impact on margins.”
Carol Furtado, page 6 of the filed PDF · View the filing
Deposit pressure in the market
p. 8
“We remain cognizant of the fact there is a deposit pressure in the market. And those impacts are also being accounted for.”
Brajesh Cherian, page 8 of the filed PDF · View the filing
Rising PAR in the micro mortgage book as it matures
p. 16
“there will be an increase in PAR because the product is not matured yet.”
Ashish Goel, page 16 of the filed PDF · View the filing
Geopolitical situation in West Asia creating uncertainty across global markets
p. 3
“The geopolitical situation in West Asia, which started in Feb this year, continued to create uncertainty across global markets during the quarter.”
Carol Furtado, page 3 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.