Utkarsh Small Finance Bank Limited (UTKARSHBNK) — Financial Results

Investor Takeaways

ICRA downgraded Utkarsh Small Finance Bank's Subordinated Debt from [ICRA]A (Negative) to [ICRA]A- (Stable) and CD from [ICRA]A1+ to [ICRA]A1

Outlook revised to Stable from Negative

Credit rating downgrade reflects concerns over asset quality and earnings as of March 31, 2026

Overall Tone: Cautious based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	Not available	N/A
Net Profit	Not available	N/A
EBITDA	Not available	N/A
EPS	Not available
OPM	Not available

What Changed

The filing reports a credit rating downgrade by ICRA for Utkarsh Small Finance Bank Limited's subordinated debt and certificate of deposit instruments. The downgrade occurred on 02 July 2026, with Subordinated Debt reduced from [ICRA]A (Negative) to [ICRA]A- (Stable) and CD from [ICRA]A1+ to [ICRA]A1. The outlook was revised to Stable from Negative. This action specifically cites concerns over asset quality and earnings performance as of March 31, 2026. The market capitalization stands at ₹2,400.58 Cr. No financial metrics such as revenue, profit, or margins are provided in the current context. The downgrade represents a material credit event affecting the bank's perceived financial strength and investor confidence.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Utkarsh Small Finance Bank Limited (UTKARSHBNK)	Not available	Not available	Not available	2,400.58
HDFC Bank Limited (HDFCBANK)	15.5	14.3%	24.4%	1,181,607.38
ICICI Bank Limited (ICICIBANK)	15.47	N/A%	N/A%	8,92,242
State Bank of India (SBIN)	10.44	N/A%	N/A%	8,89,093.09