Ujjivan Small Finance Bank (UJJIVANSFB) Q2 26/27 earnings summary

Executive summary

• Q2FY27 delivered record quarterly net profit of ₹36,505 lakh; H1 net profit was ₹68,159 lakh, up 203% YoY.

• Gross loan book grew 32.1% YoY to ₹45,699 crore and deposits rose 29.2% to ₹50,643 crore; secured loans reached 52% of the book.

• H1 growth reflected expanded capacity and a shift toward secured lending; management remains focused on diversified advances and profitable growth.

• Board approved unaudited Q2 and H1 results on Oct 16, 2026; statutory auditors issued an unmodified limited-review conclusion.

Financial highlights

• Q2 total income was ₹2,448.94 crore; NII was ₹1,244 crore, up 35% YoY, and PPOP was ₹593.69 crore, up 50%.

• Q2 net profit was ₹365.05 crore versus ₹121.72 crore a year earlier; PBT was ₹490.72 crore, up 206%, and provisions and contingencies were ₹102.97 crore.

• H1 total income was ₹4,729.87 crore, NII ₹2,431 crore and net profit ₹681.59 crore; NII rose 37% and net profit 203% YoY.

• Other income rose 17% QoQ; miscellaneous income was ₹86 crore, which management expects to track business growth.

• Operating expenses rose 6% QoQ on brand and branch investments; full-year OpEx/ATA guidance is 6.2%, versus prior guidance of 6.4%.

Outlook and guidance

• FY27 guidance: advances growth of 25%, credit cost of 0.9%–1.0% of ATA and RoA of 1.8%–2.0%; credit-cost guidance uses average balance sheet methodology.

• Micro banking growth guidance is 12%–14% for FY27; the portfolio grew 6%–6.5% in H1.

• H2 NIM is expected at 8.35%; the 25 bps repo increase is expected to reduce margin by ~10 bps, with planned DA to offset further impact.

• H2 credit cost is expected to remain similar to H1; management sees a high probability of exceeding the upper end of RoA guidance.

• Secured assets are targeted at 56% by FY27-end, with a 5 percentage-point annual improvement thereafter; cost of funds may rise as rates pass through and deposits reprice.