BSE: 543279 | NSE: SURYODAY | Bank - Private | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Suryoday Small Finance Bank Ltd is a average quality company.
The key valuation ratios of Suryoday Small Finance Bank Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Suryoday Small Finance Bank Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income (₹ Cr.) | 55.5 | 104 | 138 | 164 | 339 | 491 | 411 | 584 | 747 | 962 | 1,110 | |
| YoY Gr. Rt. % | - | 87.4% | 33.1% | 18.3% | 106.9% | 44.8% | -16.3% | 42.4% | 27.7% | 28.9% | - | |
| Total Income | 118 | 200 | 255 | 325 | 597 | 854 | 853 | 1,035 | 1,281 | 1,808 | 2,085 | |
| YoY Gr. Rt. % | - | 69.1% | 27.4% | 27.5% | 83.7% | 43.1% | -0.2% | 21.5% | 23.7% | 41.1% | - | |
| Adj EPS (₹ ) | 5.1 | 7.2 | 2.4 | 1.5 | 10.6 | 12.8 | 1.1 | -8.8 | 7.3 | 20.3 | 22 | |
| YoY Gr. Rt. % | - | 40.1% | -67% | -36.4% | 607.3% | 20.7% | -91.3% | -882.1% | NA | 177.9% | - | |
| BVPS (₹ ) | 39.8 | 51.3 | 78 | 79.5 | 107.4 | 122.3 | 149.5 | 140.9 | 148.5 | 169 | 181.1 | |
| YoY Gr. Rt. % | - | 28.8% | 51.9% | 1.9% | 35.1% | 13.9% | 22.2% | -5.8% | 5.4% | 13.9% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 2.9 | 2.8 | 1.1 | 0.5 | 2.9 | 2.4 | 0.2 | -1.3 | 0.9 | 1.9 | 1.7 | |
| To view Net NPA to Net Advances (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 3.8 | 1.9 | 0.4 | 0.6 | 4.7 | 6 | 1.6 | 0.9 | 0.8 | |
| To view Capital Adequacy Ratio (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Capital Adequacy Ratio (%) | - | - | - | - | - | - | - | - | - | - | - | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 37.3% | 23.2% | 32.8% | 28.9% | ||||
| Total Income | 35.4% | 24.8% | 28.5% | 41.1% | ||||
| Adj EPS | 16.6% | 13.9% | 162.9% | 177.9% | ||||
| BVPS | 17.4% | 9.5% | 4.2% | 13.9% | ||||
| Share Price | - | - | -3.5% | -12.7% | ||||
| RATIOS \ YEARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Earned / Total Income | 93.46 | 99.39 | 99.55 | 88.29 | 88.79 | 89.76 | 91.04 | 90.96 | 92.4 | 87.87 | 88.8 | |
| Margins | To view Margins Colour Rating Guide click here ⓘ | |||||||||||
| NIM (%) | 7.8 | 9 | 9 | 7.8 | 9.4 | 9.5 | 6.4 | 7.5 | 7.9 | 8.1 | 8.2 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 15.4 | 16.7 | 4.3 | 2 | 12.3 | 11.5 | 0.9 | -6 | 5.1 | 12.8 | 12.1 | |
| Liquidity Ratio | To view Liquidity Ratio Colour Rating Guide click here ⓘ | |||||||||||
| CASA (%) | 0 | 0 | 8.3 | 11 | 11.3 | 11.5 | 15.5 | 18.8 | 17.1 | 20.1 | - | |
Return on Equity has increased versus last 3 years average to 12.50%
Total Income has increased 28.48 CAGR in last 3 years
Net Profit has increased 162.85 CAGR in last 3 years
Net NPA to Net Advances has declined versus last 3 years average
Total income growth is good in last 4 quarters
No data to display
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 22 | - |
| TTM Sales (₹ Cr.) | 1,851 | - |
| BVPS (₹.) ⓘ | 181.1 | - |
| Reserves (₹ Cr.) ⓘ | 1,819 | - |
| P/BV ⓘ | 0.77 | - |
| PE ⓘ | 6.38 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 130.65 / 219.55 |
| All Time Low / High (₹) | 77.20 / 295.95 |
| Market Cap (₹ Cr.) | 1,490 |
| Equity (₹ Cr.) | 106.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 17.6 |
| Pledged * | 37.97 | 37.97 | 25.43 | 25.43 | 25.43 | 22.45 | 22.45 | 22.45 | 22.45 | 22.53 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 118 | 200 | 255 | 325 | 597 | 854 | 853 | 1,035 | 1,281 | 1,808 |
| Interest Income | 111 | 199 | 254 | 287 | 530 | 767 | 776 | 942 | 1,184 | 1,589 |
| Other Income ⓘ | 8 | 1 | 1 | 38 | 67 | 87 | 76 | 94 | 97 | 219 |
| Expenditure | 101 | 173 | 240 | 315 | 510 | 743 | 841 | 1,128 | 1,203 | 1,592 |
| Interest Expense | 55 | 95 | 115 | 123 | 191 | 276 | 366 | 357 | 437 | 626 |
| Operating Expenses | 35 | 59 | 102 | 131 | 194 | 272 | 329 | 413 | 507 | 728 |
| Provisions | 11 | 19 | 23 | 60 | 126 | 195 | 146 | 358 | 260 | 238 |
| Profit Before Tax | 25 | 42 | 24 | 16 | 138 | 154 | 12 | -127 | 101 | 288 |
| Taxes | 9 | 14 | 9 | 6 | 52 | 43 | 0 | -34 | 23 | 72 |
| Profit After Tax | 17 | 27 | 15 | 10 | 87 | 111 | 12 | -93 | 78 | 216 |
| Adjusted EPS (₹) | 5.11 | 7.16 | 2.36 | 1.50 | 10.61 | 12.81 | 1.12 | -8.76 | 7.32 | 20.34 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Share Capital ⓘ | 33 | 38 | 64 | 67 | 82 | 87 | 106 | 106 | 106 | 106 |
| Total Reserves ⓘ | 98 | 158 | 436 | 469 | 794 | 973 | 1,481 | 1,390 | 1,470 | 1,689 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deposits | 0 | 0 | 22 | 750 | 1,593 | 2,849 | 3,256 | 3,854 | 5,167 | 7,777 |
| Borrowings ⓘ | 298 | 956 | 1,022 | 718 | 1,124 | 1,265 | 1,667 | 2,551 | 2,765 | 2,443 |
| Other Liabilities | 328 | 40 | 61 | 160 | 168 | 192 | 203 | 279 | 353 | 363 |
| Total Liabilities ⓘ | 757 | 1,193 | 1,604 | 2,164 | 3,761 | 5,365 | 6,712 | 8,180 | 9,861 | 12,378 |
Assets | ||||||||||
| Balance with RBI | 0 | 2 | 27 | 31 | 48 | 61 | 103 | 607 | 784 | 814 |
| Balance with Banks | 167 | 171 | 107 | 176 | 228 | 777 | 494 | 370 | 41 | 366 |
| Investments ⓘ | 1 | 0 | 594 | 311 | 664 | 808 | 1,874 | 2,058 | 2,570 | 2,599 |
| Advances | 544 | 983 | 820 | 1,575 | 2,680 | 3,532 | 3,983 | 4,751 | 6,015 | 8,078 |
| Net Block ⓘ | 2 | 2 | 6 | 13 | 18 | 30 | 35 | 66 | 163 | 152 |
| Other Assets | 43 | 35 | 49 | 57 | 122 | 148 | 216 | 279 | 286 | 352 |
| Total Assets ⓘ | 757 | 1,193 | 1,604 | 2,164 | 3,761 | 5,365 | 6,712 | 8,180 | 9,861 | 12,378 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -144 | -350 | -231 | 458 | -548 | 526 | -876 | -347 | -98 | 935 |
| Cash Flow From Investing Activity ⓘ | 3 | -2 | -158 | -84 | -14 | -167 | -280 | -158 | -266 | -263 |
| Cash Flow From Financing Activity ⓘ | 214 | 399 | 350 | -285 | 658 | 210 | 915 | 885 | 213 | -322 |
| Net Cash Flow ⓘ | 72 | 47 | -39 | 88 | 97 | 569 | -241 | 381 | -150 | 349 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 5 | 7 | 2 | 2 | 11 | 13 | 1 | -9 | 7 | 20 |
| DPS (₹) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BVPS (₹) | 40 | 51 | 78 | 79 | 107 | 122 | 150 | 141 | 148 | 169 |
Margin Ratios | ||||||||||
| Yield on Advances (%) | 20.3 | 20.2 | 31.0 | 18.2 | 19.8 | 21.7 | 19.5 | 19.8 | 19.7 | 19.7 |
| Yield on Investments (%) | 0.0 | 1,159.8 | 1.6 | 8.0 | 5.7 | 7.4 | 4.9 | 5.1 | 4.5 | 7.2 |
| Cost of Liabilities (%) | 18.5 | 9.9 | 11.0 | 8.4 | 7.0 | 6.7 | 7.4 | 5.6 | 5.5 | 6.1 |
| NIM (%) | 7.8 | 9.0 | 9.0 | 7.8 | 9.4 | 9.5 | 6.4 | 7.5 | 7.9 | 8.1 |
| Interest Spread (%) | 1.8 | 10.3 | 19.9 | 9.8 | 12.7 | 15.0 | 12.1 | 14.2 | 14.2 | 13.5 |
Performance Ratios | ||||||||||
| ROA (%) | 2.9 | 2.8 | 1.1 | 0.5 | 2.9 | 2.4 | 0.2 | -1.3 | 0.9 | 1.9 |
| ROE (%) | 15.4 | 16.7 | 4.3 | 2.0 | 12.3 | 11.5 | 0.9 | -6.0 | 5.1 | 12.8 |
| ROCE (%) | 25.6 | 17.3 | 10.4 | 8.2 | 15.1 | 11.5 | 5.0 | 0.1 | 6.3 | 11.1 |
Efficiency Ratios | ||||||||||
| Cost to Income Ratio (%) | 55.9 | 56.0 | 72.9 | 65.1 | 47.7 | 47.1 | 67.5 | 60.9 | 60.0 | 61.6 |
| Operating Costs to Assets (%) | 4.7 | 4.9 | 6.3 | 6.1 | 5.2 | 5.1 | 4.9 | 5.1 | 5.1 | 5.9 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1.8 | 0.6 | 0.6 | 1.0 |
The bank was among the leading Small Finance Banks (SFBs) in India in terms of net interest margins, return on assets, yields and deposit growth. It has for over a decade been serving customers in the unbanked and underbanked segments in India and promoting financial inclusion. The bank commenced its microfinance operations in 2009 and has since expanded its operations across several states and union territories. Its delivery platform also includes partnering with business correspondents (BCs) for sourcing both asset and liability business and has expanded its network and presence through their reach to promote financial inclusion. It has arrangements with various payment banks in India and has been able to leverage its relationship with such payment banks to grow its deposit base. Its distribution network also comprises its ATMs, phone banking, mobile banking, tablet banking, unified payment interface, CSPs, and internet banking services.
Business area of the bank
The bank currently offers a variety of asset and liability products and services designed for inclusive finance and general banking customers. Its asset products consist of its inclusive finance portfolio (comprising loans to JLG customers), commercial vehicle loans, affordable housing loans, micro business loans, unsecured micro and small enterprise and small and medium enterprise loans, secured business loans, financial intermediary group loans and other loans. The bank has leveraged the use of technology across all aspects of its operations. In particular, it uses digital technology for customer acquisition and also customer lifecycle management. Its employees use tablets to service customers in the unbanked and underbanked segments which has led to greater customer convenience and improved operational efficiency. It also has a robust back-end operating system supported by its core banking system and document management system.
Major events and milestones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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