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← CockpitCompetitor Analysis › EQUITASBNK.NS Equitas Small Finance Bank Ltd.Open in the cockpit ↗

Equitas Small Finance Bank Ltd.EQUITASBNK.NSCompetitor analysis, valuation and peers

India · INR·Financials›Regional Banks
Momentum laggard 3
Mkt cap
$662M
US dollars, full cap
Free float
86%
of shares outstanding
$/day
$12.0M
20-day average traded
P/B
0.95×
price to book
ROE
11.3%
delivered
Implied ROE
15.4%
what the price asks
Next earnings
83 days
28 Jan 2027
Close · INR₹54.69
1D-0.2%
1W+2.0%
1M-20.6%
3M-28.1%
6M-25.4%
YTD-13.2%
1Y-7.6%
ATR %6.4%
Beta1.02
52w lowhigh34.8% off high

What Equitas Small Finance Bank does

Employees: 28,072

Equitas Small Finance Bank at a glance

Size Equitas Small Finance Bank (EQUITASBNK.NS) is an India Financials company (Regional Banks) with a market value of $662M, the 740th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹54.69 on 6 Nov 2026.

Performance Over six months the shares fell 25.4%, against +13.5% for the median peer and 0.0% for the India market (cap-weighted) — 3rd lowest of 20 in its peer set.

Growth Revenue grew 15.3% over the last twelve months (peer median +12.6%); the operating margin is 18.5% (peer median 32.9%).

Valuation It trades at 0.95× book value against a peer median of 1.20× (9th cheapest of 21).

Price implies The share price implies a return on equity of about 15.4%; Equitas Small Finance Bank delivers 11.4%, so the price asks more than the business earns today.

Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).

Relative performance

8010012011 May 202611 Aug 20266 Nov 2026Peer median 117EQUITASBNK.NS 75
Six months, rebased to 100: Equitas Small Finance Bank against the median of its 20 peers (local-currency closes).

Equitas Small Finance Bank financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹86.5B₹78.8B₹72.2B₹62.8B₹48.3B
Revenue growth—+9%+15%+30%—
Net income₹7.04B₹1.03B₹1.47B₹7.99B₹5.74B
Free cash flown/a₹7.76B₹4.40B₹4.48B₹11.7B
Capital expendituren/a₹1.93B₹2.45B₹3.64B₹2.66B
Total debt₹68.9B₹142B₹99.8B₹85.4B₹73.9B

Quarterly statements and history in the cockpit →

Equitas Small Finance Bank competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%+100%-40%-20%0%+20%MSBIACNB8399CCBIFOMASP7384BHBDCBBANKCARE834385418344EQUITASBNK.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Equitas Small Finance Bank is the large dot.

Fundamentals: return on equity against price-to-book

5%10%15%10×1.50×MSBIACNB8399WCCBCCBIFRRBIOMASP7384BHBDCBBANKCAREBCALCWBCFBIZPFIS834385418344WASHEQUITASBNK.NSReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Equitas Small Finance Bank is the large dot.

Capital: ROE delivered against the ROE the price implies

5%10%15%5%10%15%MSBIACNB8399WCCBCCBIFRRBIOMASP7384BHBDCBBANKCAREBCALCWBCFBIZPFIS83438541EQUITASBNK.NSROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Equitas Small Finance Bank is the large dot.

Equitas Small Finance Bank competitors and peer comparison

How Equitas Small Finance Bank compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Equitas Small Finance Bank against its 20 peers (data as of 6 Nov 2026)
MeasureEQUITASBNK.NSPeer medianRank in peer set
1-month return-20.6%+0.2%4th lowest of 21
6-month return-25.4%+13.5%3rd lowest of 20
Return on equity11.3%10.5%10th highest of 21
Price / book0.95×1.20×9th cheapest of 21
Trailing P/E8.9×12.1×4th cheapest of 20
ROE the price implies15.4%9.2%2nd most demanding of 21
ROE delivered11.4%10.4%10th highest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Equitas Small Finance Bank EQUITASBNK.NSIndia$662M-25%+15%11%0.95×15.4%11.4%
Midland States Bancorp MSBIUnited States$660M+12%-21%10%1.57×11.0%10.2%
ACNB ACNBUnited States$667M+22%+15%13%1.58×13.1%13.4%
Bank Of The Ryukyus,Limited 8399.TJapan$655M-3%+19%7%0.68×5.3%6.5%
West Coast Community Bancorp WCCBUnited States$653Mn/a+6%15%1.62×9.1%15.0%
Coastal Financial CCBUnited States$653M-41%+10%-1%1.37×10.8%-0.8%
Banca IFIS IF.MIItaly$673M-53%+68%13%0.30×5.2%13.0%
Red River Bancshares RRBIUnited States$682M+14%+7%13%1.78×10.0%13.0%
Oma Savings Bank OMASP.HEFinland$643M+47%-20%7%0.92×5.0%6.6%
Procrea Holdings,Inc 7384.TJapan$638M-2%+25%2%0.59×4.1%2.4%
Bar Harbor Bankshares BHBUnited States$688M+17%+16%11%1.28×9.3%10.7%
DCB Bank DCBBANK.NSIndia$688M+8%+10%13%0.94×16.4%13.0%
Carter Bankshares CAREUnited States$634M+9%+40%28%1.20×8.8%27.5%
California BanCorp BCALUnited States$696M+13%-4%10%1.20×7.5%10.2%
Community West Bancshares CWBCUnited States$705M+8%+23%7%1.17×10.1%6.7%
First Business Financial Services FBIZUnited States$618M+31%+4%15%1.58×11.2%14.9%
Peoples Financial Services PFISUnited States$723M+22%+4%12%1.37×10.7%11.7%
Akita Bank 8343.TJapan$731M+107%+29%5%0.61×5.3%5.0%
Ehime Bank 8541.TJapan$733M+66%+8%5%0.80×5.2%5.1%
Yamagata Bank 8344.TJapan$736M+49%+25%5%0.75×5.3%5.1%
Washington Trust Bancorp WASHUnited States$737M+19%+30%12%1.39×10.6%12.0%

Questions

Which companies are Equitas Small Finance Bank's closest peers?
The cockpit's peer set: Midland States Bancorp (MSBI), ACNB (ACNB), Bank Of The Ryukyus,Limited (8399.T), West Coast Community Bancorp (WCCB), Coastal Financial (CCB), Banca IFIS (IF.MI), Red River Bancshares (RRBI), Oma Savings Bank (OMASP.HE).
Is Equitas Small Finance Bank expensive compared with its peers?
On price / book it trades at 0.95× against a peer median of 1.20×, 9th cheapest of 21 in its peer set. The share price implies a return on equity of about 15.4%; Equitas Small Finance Bank delivers 11.4%, so the price asks more than the business earns today.
How has Equitas Small Finance Bank stock performed?
Over six months to 6 Nov 2026 the shares returned -25.4% against +13.5% for the median peer; over one year -7.6%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.