Jana Small Finance Bank logo

Jana Small Finance Bank

JSFB NSE

Key Fundamentals

MicrocapSmall Finance BankBanks
Market Cap
₹5,227 Cr
Volatility
Moderate
P/E Ratio
14.33
EBITDA
₹0.00 Cr
Return on Equity
12.18%
Debt to Equity
0
Book Value
₹419.28
EPS
₹71.68
52W High
₹606.95
52W Low
₹330

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

6
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -4.91%
  • Promoter holding is low: 16.9%
  • Tax rate seems low
  • Earnings include an other income of Rs.985 Cr.

Growth Rate

Revenue Growth
-2.42% lower than 3Y
Net Income Growth
-34.9% lower than 3Y
Cash Flow Change
475% higher than 3Y
ROE
-34.94% lower than 3Y
ROCE
-1.23% lower than 3Y
EBITDA Margin (Avg.)
-37.69% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk high

Jana Small Finance Bank trades at a market cap of ~₹6,108 Cr with a P/E of 15.7x and P/B of 1.34x. The bank delivered 18% TTM revenue growth but saw a 12% TTM decline in net profit, with FY25 full-year profit falling sharply as provisions rose and its universal bank license application was returned by the RBI.

Bull Case 8
  • Consistent top-line growth with compounded sales CAGR of 20% over 3 years and 18% TTM growth, indicating sustained business expansion
  • Net Interest Income grew 12.5% YoY from ₹2,128 Cr in FY24 to ₹2,393 Cr in FY25, showing core lending franchise remains healthy
  • Deposits grew 31% YoY as of H1 FY25 with CASA and term deposit growth of 12% and 9% respectively from Mar-24, strengthening the liability franchise
  • Capital adequacy ratio stood at 18.8% with Tier-1 CRAR of 17.8%, well above regulatory minimums, providing buffer for growth
  • P/B of 1.34x is modest for a bank that has delivered 14% ROE over a 3-year and 5-year average, suggesting limited valuation premium
  • Advances grew 17% YoY as of H1 FY25, showing continued loan book expansion across secured and unsecured segments
  • Compounded profit CAGR of 29% over 5 years demonstrates long-term earnings trajectory despite near-term weakness
  • Stock has delivered 19% return over the past 1 year, reflecting market recognition of recovery potential
Bear Case 8
  • Q4 FY25 net profit collapsed 61.6% YoY to ₹123.4 Cr from ₹321.6 Cr, signaling severe near-term earnings pressure
  • RBI returned the universal bank license application citing non-fulfilment of eligibility norms, removing a key re-rating catalyst
  • Promoter holding is very low at 16.9% and declined 4.91% in the last quarter, raising governance and overhang concerns
  • Promoter entities Jana Holdings and Jana Capital had their NCD ratings downgraded to default status due to ₹4,200 Cr refinancing risk, with India Ratings placing the bank on watch with negative implications
  • GNPA at 2.75% and NNPA at 0.90% as of Q2 FY26 reflect ongoing asset quality stress, particularly in the microfinance portfolio
  • Earnings quality is questionable with other income of ₹985 Cr forming a significant portion of profits, and TTM profit declining 12%
  • ROTA fell sharply from 2.30% in FY24 to 1.42% in FY25 and further to 0.61% in 9M FY26, indicating deteriorating return efficiency
  • Zero dividend payout despite reporting profits, combined with low interest coverage ratio, suggests limited capital return visibility for shareholders

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 2
  • 826th branch opened in Jaipur Jul 17

    Jana Small Finance Bank opened its 826th branch in Jaipur on July 16, 2026, inaugurated by Rajasthan Minister Shri Gautam Kumar Dak, signaling continued network expansion.

  • Two Gold data quality awards Jul 7

    Jana SFB won two Gold awards for data quality from TransUnion CIBIL at its Annual Conference 2026, reflecting strong credit information governance.

Neutral 3
  • Director Khuntia exits after tenure Jul 28

    Dr. Subhash Khuntia ceased to be a director effective July 27, 2026, following completion of his tenure under the Companies Act. Routine board transition with no controversy indicated.

  • Q1FY27 earnings call on Jul 15 Jul 10

    Jana SFB hosted an investor conference call on July 15, 2026, to discuss Q1FY27 performance with senior management including the MD and CEO.

  • Investor meet with ICICI Pru AMC Jul 14

    Jana SFB held an investor meet with ICICI Prudential AMC on July 17, 2026, in Mumbai, relying on publicly available information.

TL;DR: Jana Small Finance Bank is steadily expanding its physical footprint (826 branches) and earning external recognition for data quality practices. No material headwinds emerged in the recent news flow, and the board transition appears routine. Active investor engagement with institutional AMCs suggests management confidence heading into Q1FY27 results. The trend is stable with a mild positive tilt from branch growth and operational excellence awards.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
885
979
1,038
1,112
1,167
1,166
1,177
1,184
1,241
1,305
1,374
1,445
1,515
Expenses
560
566
553
604
639
681
665
696
750
791
899
861
854
Financing Profit
-98
-41
-5
-13
-29
-87
-72
-114
-164
-172
-235
-126
-72
Fin. Margin %
-11%
-4%
0%
-1%
-2%
-7%
-6%
-10%
-13%
-13%
-17%
-9%
-5%
Other Income
188
164
140
179
189
176
177
234
266
247
245
266
227
Interest
423
453
490
520
557
572
585
602
655
686
709
709
732
Depreciation
0
0
0
0
0
0
0
0
0
0
0
0
0
PBT
90
123
135
166
160
88
105
120
102
75
10
140
155
Tax %
0%
0%
0%
-93%
-7%
-9%
-5%
-3%
0%
0%
0%
0%
0%
Net Profit
90
123
135
322
171
97
111
123
102
75
10
140
155
EPS in Rs
17.81
24.22
26.54
30.76
16.31
9.25
10.56
11.75
9.69
7.13
0.92
13.28
14.74
Gross NPA %
2.94%
2.44%
2.19%
2.11%
2.62%
2.97%
2.8%
2.71%
2.91%
2.87%
2.59%
2.46%
2.39%
Net NPA %
1.19%
0.87%
0.71%
0.56%
0.99%
0.99%
0.94%
0.94%
0.94%
0.94%
0.94%
0.92%
0.91%
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
1,555
1,251
1,992
2,498
2,727
3,075
4,014
4,710
5,353
5,637
Expenses
2,844
2,399
1,322
1,331
1,627
1,960
2,222
2,635
3,289
3,406
Financing Profit
-2,453
-1,963
-311
-68
-238
-300
-94
-242
-695
-605
Fin. Margin %
-158%
-157%
-16%
-3%
-9%
-10%
-2%
-5%
-13%
-11%
Other Income
42
113
433
235
324
625
670
776
1,022
985
Interest
1,164
814
980
1,235
1,337
1,415
1,886
2,317
2,760
2,837
Depreciation
0
99
93
83
81
69
62
61
0
0
PBT
-2,411
-1,949
30
84
5
256
514
474
326
380
Tax %
4%
0%
0%
0%
0%
0%
-30%
-6%
0%
—
Net Profit
-2,504
-1,949
30
84
5
256
670
501
326
380
EPS in Rs
-637
-413
5.94
16.62
1.07
50.46
64.02
47.73
30.99
36.07
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
39
47
51
51
51
55
105
105
105
Reserves
1,490
476
843
926
999
1,472
3,473
4,013
4,328
Borrowing
7,662
4,236
3,049
4,965
4,660
6,547
5,211
3,867
5,497
Deposits
0
4,199
9,652
12,386
13,540
16,334
22,571
29,120
35,784
Other Liabilities
558
487
550
763
938
1,235
1,350
1,359
1,733
Total Liabilities
9,749
9,446
14,145
19,091
20,189
25,644
32,710
38,464
47,448
Fixed Assets
385
332
259
211
170
123
139
150
199
CWIP
0
2
1
1
1
5
3
3
0
Investments
1,997
1,468
2,650
4,698
5,065
5,221
6,738
5,945
9,812
Other Assets
7,367
7,644
11,234
14,181
14,952
20,295
25,831
32,366
37,437
Total Assets
9,749
9,446
14,145
19,091
20,189
25,644
32,710
38,464
47,448
Figures in ₹ Crores

Cash Flow

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
2,771
949
615
859
-1,137
708
4,073
594
Investing
—
-231
-285
-1,266
-1,330
-434
-780
-321
-4,133
Financing
—
-2,489
-852
1,917
-240
2,104
33
-1,331
1,641
Net Cash Flow
—
51
-188
1,266
-711
532
-39
2,421
-1,898
Free Cash Flow
—
2,717
928
573
818
-1,163
631
4,001
472
CFO/OP
—
-241
140
53
78
-101
40
197
29
Figures in ₹ Crores

Ratios

Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
-164%
-189%
5%
10%
1%
20%
26%
13%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Public24.10%Govt.1.03%Others38.60%FIIs4.01%DIIs15.32%Promot.16.94%As ofJun 2026

Documents

Frequently Asked Questions about Jana Small Finance Bank

What does Jana Small Finance Bank Ltd do?
Incorporated in 2006, Jana Small Finance Bank Ltd provides a wide range of banking and financial services[1]
Where is Jana Small Finance Bank Ltd (JSFB) listed?
Jana Small Finance Bank Ltd trades as JSFB on the NSE and under code 544118 on the BSE.
Which sector does Jana Small Finance Bank Ltd belong to?
Jana Small Finance Bank Ltd is classified under the Banks sector, in the Small Finance Bank industry.
What is the market capitalisation of Jana Small Finance Bank Ltd?
Jana Small Finance Bank Ltd has a market capitalisation of ₹5,227 Cr, which places it in the Mid Cap band.
What is the PE ratio of Jana Small Finance Bank Ltd?
Jana Small Finance Bank Ltd trades at a PE ratio of 14.33, on earnings per share of ₹71.68, against a book value of ₹419.28 per share.
What is the 52-week high and low of Jana Small Finance Bank Ltd?
Over the last 52 weeks Jana Small Finance Bank Ltd has traded between ₹330 and ₹606.95.
What is the Return on Equity (ROE) of Jana Small Finance Bank Ltd?
Jana Small Finance Bank Ltd reported a return on equity of 12.18%. Its debt-to-equity ratio is 0.00.

Company Information

Incorporated in 2006, Jana Small Finance Bank Ltd provides a wide range of banking and financial services[1]

Website janabank.com
Listed 2024-02-14
Face Value ₹ 10
Issued Size 10,52,73,690

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