Esaf Small Finance Bank Limited · NSE:ESAFSFB
Esaf Small Finance Bank — Q3 FY2026 Earnings Presentation
43 slides from Esaf Small Finance Bank's earnings presentation, Jan 31, 2026
Slide 1: Stock exchange filing cover letter
Ref No: 17/SE/CS/JAN/2025-26 Date: January 31, 2026 To, Listing Department Listing & Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor Dalal Street, Mumbai – 400001 Plot No. C/1, “G” Block Bandra- Kurla Complex Bandra(E),
Slide 2: Investor Presentation | January 2026 Q3 and 9M FY2026
Investor Presentation | January 2026 Q3 and 9M FY2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by ESAF Small Finance Bank Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for a
Slide 4: Business snapshot
Business snapshot Operational Advance Profile Deposit Profile Financials Profit/(Loss) After Tax 24 States and 2 UTs Gross Advances Deposits 9M FY26 : ₹ (190) cr 8,596 Total Customer Touch ₹ 20,679 cr (YoY Growth: 13.1%) ₹ 24,006 cr (YoY Growth: 7.1%) Q3 FY26 : ₹ 7 cr; Q2 FY26 : ₹ (116) cr Points M.
Slide 5: Advances
Advances
Slide 6: M.A.R.G – Towards sustainable growth with a de-risked business
M.A.R.G – Towards sustainable growth with a de-risked business Gross Advances of MARG portfolio (₹ Crs) and its contribution (%) Total GNPA (%) of MARG portfolio 0.73 0.73 24% 26% 47% 59% 0.37 0.24 12,235 YTD - 38% Mar-23 Mar-24 Mar-25 Dec-25 8,890 Disbursements of MARG portfolio (₹ Crs) CAGR - 63%
Slide 7: Total Gross Advances Mix
Total Gross Advances Mix Total Gross Advances Mix (₹ Crs) 23.8 23.9 23.1 24.3 26.2 • Total Gross Advances grew by 13.1% on Y-o-Y basis and 8.1% on Q-o-Q basis 18,291 18,779 18,224 19,137 20,679 1,067 • Secured Loans has increased to 63% as of 617 1,017 1,049 862 December-25 compared to 45% as of 1,0
Slide 8: Total Disbursement Mix
Total Disbursement Mix Total Disbursement Mix (₹ Crs) Secured & Unsecured Mix in Disbursement (%) 7.2 8.7 9.8 11.3 16.5 5,191 6,467 7,694 8,913 12,997 254 203 91 159 85 82 81 76 242 163 88 163 190 110 9,778 (82%) 65 118 169 155 (90%) 150 (85%) 120 6,518 24 (76%) 6,289 18 19 4,946 (69%) 15 3,451 9 35
Slide 9: Yield and Average Ticket Size
Yield and Average Ticket Size Yield on Average Ticket Credit Cost (%) *# December-2025 Advances Size Agricultural Loans 15.6% ~85,000 9.3 MSME Loans 9.9% ~3,70,000 7.5 5.6 Loans to financial institutions 10.7% ~22,00,00,000 5.3 5.1 Auto Loans 11.0% ~5,75,000 Gold Loans 13.2% ~4,25,000 Retail Loans 1
Slide 10: Asset Quality
Asset Quality
Slide 11: Asset Quality
Asset Quality GNPA & NNPA (%) PCR (%) 8.5 7.5 6.9 6.9 5.6 80.5 78.6 73.2 74.4 3.8 3.8 2.9 2.9 2.7 53.8 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 GNPA NNPA * PCR for Q3FY26 has reduced on account of transfer of NPA portfolio having higher provisions to ARC NPA Movement (₹
Slide 12: Product wise NPA & Special Mention Accounts
Product wise NPA & Special Mention Accounts Gold Loans (₹ Crs) - NPA Micro Loans (₹ Crs) - NPA Retail & Other Loans (₹ Crs) - NPA 1,421 1,127 1,125 1,157 1,002 190 193 146 147 31 116 20 20 17 16 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26
Slide 13: Capital Adequacy
Capital Adequacy Total Assets & Risk Weighted Assets (₹ Crs) Capital Adequacy (%) 40.6% 37.5% 34.3% 33.3% 33.2% 29,137 26,747 27,178 26,703 27,129 22.7 22.7 22.4 22.7 21.8 18.7 18.4 17.6 16.9 16.0 10,873 10,203 9,154 9,073 9,684 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 T
Slide 14: Deposits
Deposits
Slide 15: Deposit Profile (1/2)
Deposit Profile (1/2) Total deposits (₹ Crs) CASA and Term Deposit (₹ Crs) 24.9% 24.8% 24.8% 26.4% 25.1% 24,006 23,276 17,976 22,894 17,493 17,070 22,415 22,698 16,823 16,848 5,592 5,783 5,628 6,046 6,030 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Term Deposits CASA CASA %
Slide 16: Deposit Profile (2/2)
Deposit Profile (2/2) Cost of Funds and Cost of Deposits (%) Funding Mix (December-25) 3.0% 7.6 7.6 6.0% 7.4 9.0% 7.5 7.5 7.3 7.3 7.3 7.2 7.2 82.0% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Cost of Funds Cost of Deposits Deposits Borrowings Shareholder Funds Other Liabilities Retail share of deposits (₹ Cr
Slide 17: Key Financial Metrics
Key Financial Metrics 16
Slide 18: Key Profitability Metrics
Key Profitability Metrics Net Interest Income (₹ Crs) Non-Interest Income (₹ Crs) 269 485 436 432 378 372 195 141 145 114 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Pre-Provision Operating Profit (₹ Crs) Profit /Loss After Tax (₹ Crs) 7 253 127 125 -81 91 93 143 -116 101 8
Slide 19: Key Profitability Ratios
Key Profitability Ratios Margins# (%) Cost to Income (%) 81.7 19.0 77.9 78.2 17.6 75.9 16.2 16.0 16.5 71.0 7.7 6.9 6.0 5.9 6.6 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Yield on Advances NIMs * Q3FY26 – Adjusted for one time income of 69 cr. on account of transfer of NPA
Slide 20: Profit & Loss Statement – Q3 and 9MFY26
Profit & Loss Statement – Q3 and 9MFY26 Particulars (₹ Crs) Q3FY26 Q2FY26 Q-o-Q Q3FY25 Y-o-Y 9MFY26 9MFY25 Y-o-Y Interest Income 894.05 819.82 9.1% 947.85 -5.7% 2,542.10 2,965.47 -14.3% Interest Expense 461.72 448.03 3.1% 462.87 -0.2% 1,360.11 1,353.04 0.5% Net Interest Income 432.33 371.79 16.3% 48
Slide 21: Balance Sheet
Balance Sheet Particulars (₹ Crs) Dec-25 Mar-25 Mar-24 Mar-23 CAPITAL AND LIABILITIES Capital 515.57 515.43 514.78 449.47 Employee Stock Option Outstanding 5.93 4.04 5.68 5.88 Reserves and Surplus 1,240.41 1,429.58 1,971.33 1,259.66 Deposits 24,006.27 23,276.44 19,867.80 14,665.63 Borrowings 2,615.4
Slide 22: Company Overview
Company Overview
Slide 23: A social business driven by providing “Joy of Banking” to customers
A social business driven by providing “Joy of Banking” to customers Vision Mission "To be India’s leading social bank that offers ESAF Small Finance Bank, promoted by Dr. Kadambelil Paul Thomas and ESAF "To provide responsive banking services to Financial Holdings, began operations on March 10, 2017
Slide 24: Shareholding Structure – As on December 31, 2025
Shareholding Structure – As on December 31, 2025 Promoter Shareholding structure Total Shareholding structure 5.0% 5.0% Dr Kadambelil Paul ESAF Financial Holdings ESMACO & Others 1 Thomas Private Limited 6.0% 52.9% 4.4% 26.7% 63.3% 63.3% Promoters Retail Shareholders Corporate Bodies Insurance Compa
Slide 25: Pan India Presence
Pan India Presence ESAF SFB has a large national footprint with presence in 24 states & 2 UTs Split of banking outlets across locations Footprint in Rural & Semi-urban 10% 11% 54% Customers in rural and semi- 1 1 urban areas 6 6 11 58% 21% 11 15 15 2 6 2 69% Banking outlets in rural and 3 semi-urban
Slide 26: Journey So Far
Journey So Far 2024 2025 • Operationalisation of Authorised Dealer Category 1 Licence (Foreign Exchange operations) • Presented with the Most Sustainable Companies Award in BFSI at BT India’s • Tied up with Edelweiss Life Insurance to broaden the range of insurance products Most Sustainable Companie
Slide 27: Our Product & Services
Our Product & Services Agri-Lending MSME Micro Banking Retail Assets Retail Liability Agri-Lending Products MSME Micro Banking Retail Assets Retail Liabilities • ESAF Dairy Development • TReDS (Trade Receivables • Microfinance Loans • Dream Housing Loans • Current Accounts Loan Electronic Discountin
Slide 28: Multi-Nodal Delivery Channels
Multi-Nodal Delivery Channels Banking Outlets Digital Banking o Provision for full-fledged o Multiple channels for servicing the banking product & services o Application (compatible with Android customers in an efficient manner o Branch Operations and iOS) that connects with the National o Customer
Slide 29: Technology Driven Model With An Advanced Digital Technology Platform
Technology Driven Model With An Advanced Digital Technology Platform ESAF SFB has continuously worked towards improving its customers’ experience through the use of technology. Such initiatives have enabled the Bank to deliver improved customer service in a cost-effective manner DIGITAL MEASURES DIG
Slide 30: Clearly Articulated Strategy
Clearly Articulated Strategy 1 Increase Deposits 2 Increase Advances 3 Deeper Penetration o Target new & existing customers for o Micro Loan Business: o Open additional Branches, ATMs CASA, fixed deposits and recurring • Cross selling and up-selling to its customer base along with engaging existing
Slide 31: Sustainability & ESG Performance – ESAF SFB’s social business strategy
Sustainability & ESG Performance – ESAF SFB’s social business strategy CareEdge ESG Ratings upgrades score to 75.4 from 68.1 last year ESAF BANK ENVIRONMENT WEEK 2025 • ESAF SFB has received one of the highest ESG Ratings in the Indian Banking sector Employees Green Joy • It is now placed in the Car
Slide 32: Highlights of the study reports for improving ESG materiality
Highlights of the study reports for improving ESG materiality Automation of Internal systems has made a positive impact on Paper reduction and related environmental impact through E Sign environment with improved Governance and Employee Productivity SAVED The Bank received ISO 26000:2010 certificati
Slide 33: Annexures
Annexures
Slide 34: Key Financial Metrics
Key Financial Metrics Gross Advances (₹ Crs) Disbursements (₹ Crs) 20,679 29,604 18,772 18,779 14,118 20,983 12,131 17,013 14,691 11,945 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 Total Deposits (₹ Crs) CASA & Term Deposits (₹ Crs) 23,276 24,006 17,976 17,493 19,868 15,366 14,666 11,529 1
Slide 35: Key Financial Metrics
Key Financial Metrics ROA* (%) NIM* (%) 1.9 11.0 1.6 10.4 8.9 8.0 0.4 6.1 -0.9 -1.9 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 ROE* (%) Cost to Income (%) 19.4 20.3 77.9 73.7 4.1 63.7 57.9 58.6 -13.8 -22.8 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 *Annualized & Cumulative 34
Slide 36: Key Financial Metrics
Key Financial Metrics GNPA (%) NNPA (%) 7.8 6.9 3.9 5.6 2.9 4.8 2.7 2.3 2.5 1.1 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 PCR (%) CRAR (%) 80.5 23.3 22.7 65.2 21.8 59.4 19.8 56.7 18.6 53.8 FY22 FY23 FY24 FY25 9MFY26 FY22 FY23 FY24 FY25 9MFY26 * PCR for 9MFY26 has reduced on account of tr
Slide 37: Key Financial Metrics - Annual Trend
Key Financial Metrics - Annual Trend Net Interest Income (₹ Crs) Non-Interest Income (₹ Crs) 2,370 467 2,052 442 1,836 288 1,147 922 208 127 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Pre-Provision Operating Profit (₹ Crs) Profit /Loss After Tax (₹ Crs) 1,163 426 302 894 105 55 557 492 417 FY
Slide 38: Profit & Loss Statement – Annual Trend
Profit & Loss Statement – Annual Trend Particulars (₹ Crs) FY25 FY24 FY23 FY22 Interest Income 3,862 3,818 2,854 1,940 Interest Expense 1,811 1,449 1,017 793 Net Interest Income 2,052 2,370 1,836 1,147 Other Income 467 442 288 208 Net Total Income 2,519 2,812 2,124 1,355 Employee Benefits Expense 66
Slide 39: High Quality Board At The Helm Of The Organization
High Quality Board At The Helm Of The Organization Karthikeyan Manickam * Kadambelil Paul Thomas George Kalaparambil John Part time Chairman & Non-Executive Independent Director Managing Director and Chief Executive Officer Executive Director o Master’s degree in Science (Agriculture) in Agronomy fr
Slide 40: High Quality Board At The Helm Of The Organization
High Quality Board At The Helm Of The Organization Ajay Sharma * Thomas Jacob Kalappila Non-Executive Independent Director Non-Executive Independent Director o Master’s degree in Business Administration in Finance from R A Poddar o Fellow member of the Institute of Chartered Accountants of Institute
Slide 41: Experienced Management Team
Experienced Management Team Supported by a highly experienced team of qualified & experienced professionals Name & Designation Qulaification Prior Associations Hari Velloor o Bachelor’s degree in arts (history) from University of Delhi, o Senior vice president – HDFC Bank Executive Vice President -
Slide 42: Awards & Recognitions – Annual Trend
Awards & Recognitions – Annual Trend 2020 2021 2022 2023 2024 2025 o Outstanding Achievement Award o Secured the “Most Impactful o ‘Global Sustainability Award o Semi Finalist at the SKOCH o ‘Small Finance Bank of the o ‘Excellence in Customer at the Outreach Programme Solar Energy Initiative of the
Slide 43: For Investor queries
For Investor queries Mr. Ranjith Raj P investor.relations@esafbank.com Email: investor.relations@esafbank.com Mr. Swapnil Moray swapnil.vijaymoray@esafbank.com Email: swapnil.vijaymoray@esafbank.com www.esafbank.com Website: www.esafbank.com
ESAF Small Finance Bank — Q3 FY2026 Earnings Presentation on 6ix