Equitas Small Finance Bank Ltd Share Price – NSE  /  BSE

Banks, Small Cap

The Board of Equitas Small Finance Bank at its meeting held on 24 April 2024 has approved the change in directorate as follows -

Arun Ramanathan will cease to be the Part-time Chairman and Independent Director of the Bank from the close of business hours on 24 April 2024 consequent to the cessation of his term of appointment.

Anil Kumar Sharma (DIN: 08537123) has been appointed as an Additional Director (Independent) and Part-time Chairman of the Bank for a period of five (5) years with effect from 25 April 2024.

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While the company’s interest income rose by 25% YoY to Rs 1,445 crore, finance costs increased by 47% YoY to Rs 659 crore in the fourth quarter.

NIM was at 8.17% for Q4 FY24. Cost to Income stood at 62.83% in Q4 FY24 as compared to 62.87% in Q4 FY23.

Operating profit for the period under review was Rs 374.75 crore, down by 3% YoY.

Provisions and contingencies fell by 15% to Rs 106.60 crore in Q4 FY24 from Rs 125.60 crore in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 268 crore, down by 3% from Rs 261 crore in Q4 FY23.

Equitas Bank stated that the yield on disbursements improved by 135 bps to 18.74% in Q4 FY24 over previous year. Term deposits grew by 68% YoY in Q4 FY24, supported by 65% YoY growth in retail term deposits.

During Q4 FY24, the bank has securitized/assigned advances worth Rs 584 crore pertaining vehicle finance and housing finance. Total securitized portfolio as on 31 March 2024 stood at Rs 1,732 crore.

The bank’s CD ratio improved to 86.98% in Q4 March 2024 as compared to 103.40% in Q4 March 2023. Return on asset (RoA) and return on equity (RoE) for Q4 FY24 was 1.91% and 14.22%, respectively.

Gross NPAs of the bank amounted to Rs 821.28 crore in Q4 FY24 as against Rs 723.96 crore in Q4 FY23. GNPA ratio of the bank improved by 8 bps YoY to 2.52% in Q4 FY24 as compared to 2.60% in Q4 FY23. NNPA improved by 2 bps YoY to 1.12 % in Q4 FY24 as compared to 1.14% in Q4 FY23.

The small finance bank reported 39% increase in net profit to Rs 799 crore on a 30% rise in total income to Rs 6,285.074 crore in FY24 as compared with FY23.

Equitas Small Finance Bank is one of the largest small finance banks in India.

The scrip declined 3.01% to end at Rs 97.46 on the BSE.

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Equitas Small Finance Bank announced that the Board of Directors of the Company at its meeting held on 24 April 2024, has recommended a Final dividend of Rs.1 per share (i.e.10%), subject to the approval of the shareholders.

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Net profit of Equitas Small Finance Bank rose 9.25% to Rs 207.62 crore in the quarter ended March 2024 as against Rs 190.04 crore during the previous quarter ended March 2023. Total Operating Income rose 25.00% to Rs 1444.65 crore in the quarter ended March 2024 as against Rs 1155.73 crore during the previous quarter ended March 2023.

For the full year,net profit rose 39.29% to Rs 798.96 crore in the year ended March 2024 as against Rs 573.59 crore during the previous year ended March 2023. Total Operating Income rose 31.83% to Rs 5486.40 crore in the year ended March 2024 as against Rs 4161.88 crore during the previous year ended March 2023.

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