India · Delayed Price · Currency is INR Jana Small Finance Bank Earnings Call Transcripts
Fiscal Year 2027
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Q2 was the highest-PBT quarter, and H1 profit matched the prior full year; PAT growth guidance rose to 100%. Credit costs and slippages are expected to ease, while H2 priorities include deposits, CASA and continued secured-asset growth.
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Q1 FY27 PAT reached INR 155 crore as NIM recovered to 7.5% and credit cost held at 0.45%. FY27 guidance calls for 19%-21% loan growth and 23%-25% deposit growth, with secured lending and guaranteed unsecured exposure supporting resilience.
Fiscal Year 2026
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Q4 PAT reached INR 140 crores as credit costs and slippages eased, while advances and deposits each grew 23% in FY 2026. FY 2027 guidance targets 19%-21% loan growth, 23%-25% deposit growth and 80%+ PAT growth.
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Q3 showed improving SMA and slippage trends, record 18-month disbursements and a 10 bps QoQ NIM increase, while PAT was INR 10 crores. Management expects lower Q4 credit costs and targets next-FY ROA of 1.5%-1.6% and ROE of 14%-15%.
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Deposits and secured lending strengthened, while MFI stress and provisioning constrained earnings. Management expects lower slippages, gradual unsecured recovery and credit-cost improvement as guarantee coverage expands.
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MFI stress and accelerated provisions weighed on Q1 earnings, while secured lending remained strong. Management expects unsecured recovery from Q2, a sharper NPA decline in Q3, and maintains 20% asset and deposit growth targets.
Fiscal Year 2025
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FY25 advances grew 19% as secured assets rose 40%, offsetting MFI contraction and stress. FY26 guidance targets 20% AUM growth and 30% PAT growth, with lower credit costs and improving margins expected.
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Q3 credit cost declined and management said peak stress had passed, while accelerated provisioning kept net NPA at 0.91%. Secured lending and guarantees are expanding as the bank targets Q4 stabilization in unsecured lending and progress toward universal-bank eligibility.
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H1 PAT was INR 267 crore after additional provisioning, as MFI stress drove unsecured contraction and higher credit costs. Deposits and secured lending grew strongly; management expects lower H2 credit costs and is targeting 20% AUM and deposit growth.
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Deposits grew 41% YoY, CASA rose 9% QoQ and secured assets reached 62% of advances. Q1 PAT was INR 171 crore, while elevated NPAs reflected collection and enforcement delays; guidance remains unchanged.
Fiscal Year 2024
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FY24 PAT excluding DTA doubled to ₹514 crore, with AUM up 24.9% and deposits up 38.2%. Guidance targets 20% balance-sheet growth and 30%-40% PAT growth over three years, alongside a rising secured mix and controlled costs.
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Nine-month PAT reached a record ₹348 crore as deposits outgrew assets and the secured portfolio approached 60%. Management expects further secured-mix gains and lower credit costs, while prioritizing disciplined growth and cost control.