Utkarsh Small Finance Bank Limited · NSE:UTKARSHBNK
Utkarsh Small Finance Bank — Q2 FY26 Earnings Presentation
51 slides from Utkarsh Small Finance Bank's earnings presentation, Nov 14, 2025
Slide 1: Regulation 30 filing cover letter
November 14, 2025 BSE Limited National Stock Exchange of India Limited Scrip Code: 543942, 975790, 959644, Symbol: UTKARSHBNK 958226, 976203 Dear Sir/Madam, Sub: Investor Presentation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regu
Slide 2: Investor Presentation Q2 FY26
Slide 3: Key Highlights Q2'FY26 – Assets & Liabilities
Key Highlights Q2’FY26 – Assets & Liabilities September 30, September 30, Change June 30, Change Particulars 2025 2024 YoY 2025 QoQ (Amount in ₹ Crore) (Limited Review) % (Limited Review) % Gross Loan Portfolio* 18,655 19,101 (2.3)% 19,224 (3.0)% JLG (incl. BC JLG) Loan Portfolio* 7,613 10,626 (28.4
Slide 4: Key Highlights Q2 & H1 FY26
Key Highlights Q2 & H1 FY26 H1 FY26 Q2 FY26 ₹18,655 cr. vs. Loss ₹588 cr. vs. Loss ₹348 cr. vs. ₹21,447 cr. vs. ₹2,394 cr. vs. 12.4% vs. [3.9%] 1,104 vs. [967] [₹19,101 cr.] Profit [₹189 cr.] Profit [₹51 cr.] [₹19,496 cr.] [₹3,125 cr.] Gross NPAs Banking Outlets Gross Loan Profit After Tax Profit Af
Slide 5: Agenda
Journey and Franchise Portfolio Build Up Deposits Build Up Financial Performance Technology, ESG & CSR 4
Slide 6: Journey and Franchise
Journey and Franchise Committed journey of ~16 years from Microfinance to Small Finance Bank to Listed Company Significant presence in rural & semi urban locations and under penetrated States of the Country Differentiated branch network to ensure relevant product offerings for customers & ensuring c
Slide 7: Utkarsh Journey
Utkarsh Journey In Jul-23 Bank launched IPO to raise equity capital of ₹500 crore; Bank successfully raised equity IPO oversubscribed >100 X; capital through Rights Issue for Higher ever annual PAT of ₹498 an amount aggregating to ₹950 crore in FY24 crore in Nov-25 FY26 FY24 FY25 Launched digital on
Slide 8: Business Overview
Business Overview Focus on Financial inclusion, offer a range of financial products and services that address the specific requirements of customer segments Micro-Banking 44% Other Retail Loans 44% Joint Liability Business MSME Loans Housing Group Loans Loans (Retail Assets) Loans Asset 39% 6% produ
Slide 9: Diversified distribution network
Diversified distribution network Extensive physical network of Banking Outlets (Sep’25) Potential for Retail Assets within existing Branches (Sep’25) Subset of GB Branches >50 Outlets Total MB GB MSME HL Wheels 1 <50 Outlets STATES Banking Outlets Outlets* Locations Locations Locations Outlets No Ou
Slide 10: MFI Industry
MFI Industry MFI Current Scenario Microfinance Industry GLP (INR Bn)(1) YoY 9% (4)% (14)% (17)% ▪ Overall Industry growth has decelerated, and the industry contracted by Growth % ~17% (Q1’FY25-Q1’FY26) due to:- 4,244 4,080 3,853 3,750 3,532 ▪ Implementation of guardrails aimed at fostering more sust
Slide 11: Building a Resilient and Sustainable Franchise
Building a Resilient and Sustainable Franchise Current Strategy ◼ Strong collections infrastructure in place to ensure faster recoveries and lower slippages ▪ Collection force to expand to ~1,500 (from 1,200 currently) steady-state feet on street over the next 2-3 1 Collections months ▪ Collection s
Slide 12: Building a Resilient and Sustainable Franchise (Contd.)
Building a Resilient and Sustainable Franchise (Contd.) Pathways to Strengthen Portfolio and Productivity De-Risking ◼ Strategic limit on MFI JLG exposure for balanced asset growth 1 the Portfolio ◼ Identified pre-qualified ~12 Lac out of >24 Lac existing JLG customers eligible for graduation to MBB
Slide 13: Key Growth Strategies
Key Growth Strategies Continue diversifying asset portfolio – Focus on Star Products like MBBL & Micro LAP and Newer Geographies ❑ Consistently increase share of secured loans in portfolio mix ❑ Leverage wide base of existing customers in the unserved and underserved segments – ▪ Extend product offe
Slide 14: Key Strategy Highlights
Key Strategy Highlights Diversified Asset Mix within the SFBs – Swiftly de-risking the business with Secured loans now constituting 47% of the portfolio Strategic Geographic Expansion: Sustaining JLG dominance in UP & Bihar on the back of first-mover advantage and brand recall, alongside retail lend
Slide 15: Portfolio Build-up
Portfolio Build-up • Slowdown witnessed in JLG segment due to market Non-JLG Loan portfolio grew by 30.3% YoY disruptions Rural & semi urban franchise, deep rooted understanding • Continued focus on high yield products & improving of our core geographies, proven track record - key productivity stren
Slide 16: Loan Portfolio Build-up
Loan Portfolio Build-up All Amounts in ₹ Crores Product CAGR% Loan Book (Mar-20) (FY20-H1’FY26) Micro-Banking Business Loans (MBBL) 123% Wholesale Housing Retail Lending Loans Other Retail Loans** 67% Loans 5% 1% Others* (MSME) 2% JLG* 19,666 18,655 4% MBBL 18,299 Other Retail Loans** MBBL JLG 2,240
Slide 17: Evolving Portfolio Mix
Evolving Portfolio Mix 10% 16% 24% 35% 39% 53% 59% 90% 84% 76% 65% 61% 47% 41% Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Sep'25 JLG (incl. BC JLG) Non-JLG 57% 53% 69% 66% 86% 78% 92% 43% 47% 31% 34% 14% 22% 8% Mar'20 Mar'21 Mar'22 Mar'23 Mar'24 Mar'25 Sep'25 Secured Unsecured 16
Slide 18: Micro-Banking Lending
Micro-Banking Lending 17
Slide 19: Micro-Banking Lending
Micro-Banking Lending All Amounts in ₹ Crores Portfolio Outstanding 10,889 10,066 9,679 9,079 8,271 Q2’FY26 JLG MBBL MBBL 764 penetration 812 Customer Base >24 Lakh >1 lakh 918 level <6%, 916 1,052 significant 13% Portfolio ₹7,218 Crore ₹1,046 Crore potential to grow 10,125 Average Ticket Size 9,255
Slide 20: Joint Liability Group (JLG) Lending
Joint Liability Group (JLG) Lending All Amounts in ₹ Crores Portfolio 10,125 9,255 8,761 8,163 7,218 Geographical Split of JLG Portfolio Disbursements Madhya Maharashtra Pradesh Other 1,540 4% Odisha 3% States 1,340 7% 6% Presence 1,296 across 13 Jharkhand States / UTs 1,088 8% 872 Uttar Pradesh Bih
Slide 21: Micro-Banking Business Loans
Micro-Banking Business Loans All Amounts in ₹ Crores 1,04 Portfolio 754 801 910 909 1,046 Geographical Split of Portfolio 6 Disbursements Madhya Maharashtra, 87% YoY Growth Odisha, Pradesh, 4% 3% 4% 305 Other States, Jharkhand, 2% 260 Presence 5% across 13 States / UTs 163 175 153 Bihar, Uttar 49% P
Slide 22: Other Retail Lending
Other Retail Lending MSME (Retail Assets) Housing Loans CE & CV Loans 21
Slide 23: MSME (Retail Assets) Lending
MSME (Retail Assets) Lending All Amounts in ₹ Crores Portfolio Outstanding 4,164 4,001 3,875 3,453 3,128 Secured Unsecured Micro LAP / Business Loans Business Loan Overdraft (LAP) Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 o Significant presence in our core geography 13.2% 13.7% 13.4% 13.1% o Offering MSME
Slide 24: Housing Loans
Housing Loans All Amounts in ₹ Crores Portfolio Outstanding Retail Housing Loans Affordable Housing 929 947 918 855 785 o Significant presence in our core geography o Currently offering HL product from 62 locations, significant headroom to expand within existing branches Sep'24 Dec'24 Mar'25 Jun'25
Slide 25: CE & CV Loans
CE & CV Loans All Amounts in ₹ Crores Portfolio Outstanding 6% YoY Growth CV (New) CE (New) CV & CE (Used) 1,188 1,179 • 80% of total • 11% of total • 9% of total 1,144 1,134 portfolio portfolio portfolio 1,075 o Lending primarily to small fleet operator segment Sep'24 Dec'24 Mar'25 Jun'25 Sep'25 o
Slide 26: Geographical Split of Other Retail Lending
Geographical Split of Other Retail Lending All Amounts in ₹ Crores Portfolio 6,162 6,849 7,747 7,957 8,194 Geographical Split of Other Retail Lending Portfolio Disbursements Presence across 27 1,249 States / UTs 1,071 1,062 WEST JHARKHAND PUNJAB BENGAL Other States 3% 3% 3% 13% 736 742 TELANGANA UTT
Slide 27: Wholesale Lending
Wholesale Lending All Amounts in ₹ Crores Portfolio Break up (Mar-20) Portfolio Break up (Sep-25) WSL Sep-25 Sep-24 Jun-25 Portfolio O/s ₹2,190 ₹2,050 ₹2,188 Business Business Share in Gross Loan Portfolio 12% 11% 11% Started Business Banking Group Banking in FY21 Banking Group 0% 42% Rating Wise WS
Slide 28: Deposits Build-up
Deposits Build-up Deposits grew by 10% YoY; Retail Term Deposits grew by 29% YoY Expanded General Banking Franchise significantly Targeting top-100 deposits centres of the country Focus on building retail franchise 27
Slide 29: Deposits Trend & Composition
Deposits Trend & Composition All Amounts in ₹ Crores Deposits Trend CD ratio (excl. Deposits Composition refinance) at Deposits (10% YoY Growth) 72%** 20% 20% 22% 20% 21% CASA 93% 68% 70% 71% 74% 78% CASA + RTD 92% 87% 83% 79% 25,000 90% 26% 22% Institutional Term Deposits 80% 21,566 21,489 32% 30%
Slide 30: Deposits Trend & Composition (Contd.)
Deposits Trend & Composition (Contd.) All Amounts in ₹ Crores Geographically well diversified Deposits* mix Retail Term Deposits Tenure wise Break up Uttar Pradesh 18.3% Mar-23 Sep-25 Maharashtra 12.4% 3 Years and above 3 Years and above 7% 34% NCT of Delhi 11.8% Haryana 7.8% Uttarakhand 5.6% West B
Slide 31: Asset Quality Movement
Asset Quality Movement All Amounts in ₹ Crores PCR% 77.7% 61.1% 51.2% 59.2% 62.7% Sep-24 Jun-25 Sep-25 Gross NPA % 3.9% 11.4% 12.4% 2,196 2,276 Net NPA % 0.9% 5.0% 5.0% 1,854 SMA 1 & 2 % 1,177 5.6% 905 897 848 719 4.4% 4.0% 4.1% 4.4% 458 160 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Gross NPAs Net NPAs Sep
Slide 32: Micro-Banking – Asset Quality
Micro-Banking – Asset Quality Collection Efficiency (excl. Pre-Payments) Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 92% 88% 86% 82% 80% SMA 0 % 4.3% 3.2% 1.1% 1.9% 1.8% SMA 1 % 2.6% 3.1% 1.6% 1.5% 1.3% SMA 2 % 2.4% 3.8% 2.2% 1.7% 1.7% Total SMA % 9.3% 10.1% 5.0% 5.1% 4.9% NPA % 5.3% 9.7% 16.7% 20.8% 23.0% Q
Slide 33: Financial Performance
Financial Performance Results impacted due to market disruptions in MFI segment Secured assets growth and deposits build-up in line with expectations 32
Slide 34: Profit & Loss: Quarter and half year ended September 30, 2025
Profit & Loss: For the quarter and half year ended September 30th, 2025 All Amounts in ₹ Crores Particulars H1’FY26 H1’FY25 Y-o-Y Q2’FY26 Q2’FY25 Y-o-Y Q1’FY26 Q-o-Q INCOME Limited Review Limited Review Limited Review Total Interest Earned 1,721 1,953 (12)% 840 987 (15)% 881 (5)% Less : Interest Exp
Slide 35: Balance Sheet: As on September 30, 2025
Balance Sheet: As on September 30th, 2025 All Amounts in ₹ Crores September 30th, September 30th, June 30th, Particulars Y-o-Y Q-o-Q 2025 2024 2025 CAPITAL & LIABILITIES Limited Review Limited Review Capital and Reserves 2,394 3,125 (23)% 2,739 (13)% Deposits 21,447 19,496 10% 21,489 0% Borrowings 1
Slide 36: Profitability Metrics
Profitability Metrics Operating Profit & PAT – Quarterly Trend (₹ in crores) YTD Operating Profit & PAT (₹ in crores) 276 185 234 588 51 3 92 (3) 189 88 (168) (239) (348) (588) Q2' FY25 Q3' FY25 Q4' FY25 Q1' FY26 Q2' FY26 H1'FY25 H1'FY26 Operating Profit (PPoP) PAT Operating Profit (PPoP) PAT 19.1%
Slide 37: Profitability Metrics (Contd.)
Profitability Metrics (Contd.) 3.5% 9.1% 56.1% / 10.6% 91.1% / 13.7% H1’FY25 H1’FY26 H1’FY25 H1’FY26 9.7% 100.7% 8.8% 8.5% 83.0% 68.4% 66.5% 4.3% 4.7% 58.2% 32.6% 15.6% 11.6% 10.4% 11.3% Credit Cost Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Q2'FY26 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Q2'FY26 Cost to Income Ratio
Slide 38: Break-up of Other Income
Break-up of Other Income All Amounts in ₹ Crores ₹ 103 crore ₹ 138 crore ₹97 crore 55 24 13 37 18 13 33 46 25 28 23 22 Q2'FY25 Q1'FY26 Q2'FY26 Loan Processing Fee PSLC Income Recovery from written off accounts General Banking & Other Income 37
Slide 39: CRAR & Tier 1
CRAR & Tier 1 All Amounts in ₹ Crores Particulars Sep-25 Sep-24 Jun-25 Risk Weighted Assets 13,994 14,565 14,757 Total Capital 2,409 3,267 2,898 Tier-I Capital 1,982 2,892 2,466 Tier-II Capital 427 375 431 CRAR 17.21% 22.43% 19.64% Tier-I CRAR 14.16% 19.85% 16.71% Tier-II CRAR 3.05% 2.58% 2.92% 38
Slide 40: Shareholding Pattern
Shareholding Pattern Bank Shareholders as on September 30th, 2025 Top 10 Shareholders as on September 30th, 2025 Utkarsh CoreInvest Limited Olympus ACF Pte. Ltd. Aavishkaar Bharat Fund Foreign Individuals responsAbility Participations Mauritius Companies, & Others, NRIs, 5.3% Massachusetts Institute
Slide 41: Diversified & Experienced Board
Diversified & Experienced Board Board Members of the Bank Dr. Kshatrapati Shivaji Parveen Kumar Gupta Part Time Chairman & Independent Director (w.e.f. July 01, 2025) Independent Director (Part Time Non-Executive Chairman till June 30,2025) • IAS (Retd.); experienced in Banking, Economics, Finance,
Slide 42: Leadership Complementing Bank's Strengths
Leadership Complementing Bank’s Strengths Senior Management Team Govind Singh - Managing Director & Chief Executive Officer Pramod Kumar Dubey – Executive Director • Over 25 years of experience in the banking and financial services sector • Previously worked with ICICI Bank as the Head of Operations
Slide 43: Tech, ESG & CSR
Tech, ESG & CSR Technology Setup to support Physical Infrastructure and Digital Requirement Integrating ESG Sensitivities into our operations & decision- making Contributing to the well-being of the society 42
Slide 44: 360-Degree Transformation → Bank Future Growth Ready
360-DegreeTransformation → Bank Future Growth Ready Driving Sustainable Business Growth in the Modern World Automation / Efficiency Transformation ✓ 5x improvement via automation BOT ✓ Re-architecting and revamping the old technology stack ✓ Process re-engineering & Collection workflow ✓ New Core Ba
Slide 45: Focus on robust risk management & effective operations
Focus on robust risk management & effective operations Risk Management practices in Credit Assessment Robust Underwriting Discipline Enhanced Financial Due Diligence ✓ Scorecard-based evaluation ensures ✓ Deployment of advanced analytical tools objective borrower assessment. (e.g., Perfios) for comp
Slide 46: Environment, Social & Governance
Environment, Social & Governance Environment Social Governance Practice is aligned Committed to give •Exclusion List •Service to Bottom •Diversified Board •Training and of pyramid •Board with the national E&S due consideration to awareness •Inclusive finance independence laws and regulations environ
Slide 47: Utkarsh Welfare Foundation: CSR Initiatives
Utkarsh Welfare Foundation: CSR Initiatives SKILL & ENTERPRISE VILLAGE DEVELOPMENT OTHER PHILANTHROPIC FINANCIAL AWARENESS HEALTH INITIATIVES DEVELOPMENT PROGRAM PROGRAM & EDUCATION ACTIVITIES Initiatives Lives Impacted Lives Impacted Lives Impacted Blood Donation Camps, Lives Impacted 26,50,000+ 45
Slide 48: Utkarsh Welfare Foundation: CSR Initiatives (Contd.)
Utkarsh Welfare Foundation: CSR Initiatives (Contd.) Financial Awareness Health Camps E-Clinics Smart Classes Women Village Development Blood Donation Camps Health Awareness Entrepreneurship Program Learning Enhancement Weavers Support Support to Old Age Agri-Input Support Program Program Home 47
Slide 49: Utkarsh Welfare Foundation: CSR Initiatives (Contd.)
Utkarsh Welfare Foundation: CSR Initiatives (Contd.) Skill Development Farmers Orientation Sponsorship Support Swasthya Mitra Program under VDP Women Supporting Rural Installation of Water Handover of Sanitation Entrepreneurship Children’s Education ATM Boat Digital Financial Literacy Financial Lite
Slide 50: Disclaimer
Disclaimer Utkarsh Small Finance Bank Limited (also referred to as ‘Bank’). By attending a meeting where this presentation is made, or by reading this presentation material, you agree to be bound by following limitations: The information in this presentation has been prepared for use in presentation
Slide 51: Thank You
THANK YOU. ©) Utkarsh Small Finance Bank
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