Ujjivan Small Finance Bank Limited (UJJIVANSFB) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Cofacto Research Published October 11, 2026 6 min read

Ujjivan Small Finance Bank enters its Q2 FY 2026-2027 print with a provisional business update already showing strong momentum — deposits of Rs. 50,649 Cr and a gross loan book of Rs. 45,699 Cr, both growing around 30% YoY. The key things the results will speak to are whether asset quality (GNPA at a provisional 2.10%) and margins hold within the bank's revised FY27 guidance, all against the backdrop of an ongoing CEO transition.

Quick Details

Results date	October 16, 2026
Quarter	Q2 FY 2026-2027
Previous quarter revenue	Rs. 1,186 Cr (NII, Q1FY27)
Previous quarter PAT	Rs. 317 Cr (up 206.7% YoY)
Previous quarter NIM	8.5%
Market cap	Rs. 11,973.78 Cr
CMP	Rs. 61.45

Ujjivan Small Finance Bank Limited Q2 Results Date and Time

The Board was scheduled to meet October 16, 2026 to approve unaudited Q2/H1 FY27 results for the period ended September 30, 2026. The trading window closed October 1 and was due to reopen 48 hours after results.

What to expect from Ujjivan Small Finance Bank Limited's Q2 FY27 results

The quarter's central test is whether Ujjivan can convert its strong provisional growth read into profitability within its revised FY27 guidance of RoA of 1.8%-2.0% and credit cost of 0.9%-1.0% of average total assets. The October 3 provisional update showed gross loan book growth of 32.1% YoY and disbursements of Rs. 10,560 Cr (up 33.1% YoY), both ahead of the approximately 25% advances growth guidance, with gold loans up 209.7% YoY, agri banking up 79.1%, vehicle loans up 64.7% and MSME up 51.3% driving the secured pivot. Asset quality improved on the provisional read, with GNPA at 2.10% (down 35 bps YoY) and PAR at 3.57% (down 88 bps YoY), while micro-banking Bucket X collection efficiency of 99.72% was essentially unchanged from the about 99.7% cited in Q1 — the trend management said underpins its credit-cost outlook. Margin pressure remains the monitored item: the repo rate was held at 5.25% through the quarter, but CASA competition intensified and the bank's own CASA ratio slipped to 26.8% in Q1 against a target of closer to 30% by FY27 year-end, with Q1 cost of funds at 6.9%. The results will also be the first print since the CEO transition, with Carol Furtado serving as Interim CEO from September 1, 2026 and management stating FY27 plans remained on track.

Key Things To Watch

FY27 guidance tracking: Progress against the guidance set out at Q1FY27:

Advances growth — approximately 25% by FY27 — provisional Q2 loan book growth of 32.1% YoY is tracking ahead
RoA — revised to 1.8%-2.0% for FY27 (from about 1.6% earlier); Q1 RoA was presented as 2.2% in the press release and 0.53% quarterly-average in the board-outcome summary, a reconciliation gap to seek clarity on
Credit cost — 0.9%-1.0% of average total assets for FY27; clarify the denominator versus the earlier 1.4%-1.5% of average gross loan book guidance
CASA deposit growth — approximately 35%, with the CASA ratio targeted closer to 30% by FY27 year-end; Q1 CASA ratio was 26.8%
Portfolio mix — 56% non-MFI share and 56:44 secured-to-unsecured mix by March 2027; secured share stood at 52.0% in the provisional Q2 update, with secured book growth guided at 40% and micro-banking at 8%-9% for FY27

Provisional Q2 indicators to confirm: The October 3 business update figures are provisional and subject to limited review:

Deposits of Rs. 50,649 Cr (up 29.2% YoY), gross loan book of Rs. 45,699 Cr (up 32.1% YoY) and disbursements of Rs. 10,560 Cr (up 33.1% YoY) to be confirmed against reported Q2/H1 results
GNPA of 2.10% and PAR of 3.57% to be confirmed, along with the absolute H1FY27 credit-cost figure and whether MFI credit cost (about 1.9% of gross MFI portfolio in Q1) held through the monsoon quarter
Q2 CASA ratio and bulk-deposit ratio not disclosed in the provisional update — the Q1 CASA ratio of 26.8% was below the about 30% year-end target

CEO succession and regulatory path

Permanent MD & CEO successor names expected to be submitted to RBI in 3-4 months from the September 2026 transition call; Carol Furtado is Interim CEO for three months or until a regular appointment, whichever is earlier
Update sought on secured-to-unsecured portfolio progress and next steps for the universal banking licence application; RBI guidance was to improve the secured-to-unsecured ratio before re-application

New initiatives and branch expansion

Progress on micro-mortgage-led incremental disbursements, MSME products, mutual fund distribution and the co-branded credit card launched in Q1FY27
Branch expansion: about 140 new branches planned in FY27 from a base of 776 at March 2026; 814 branches reported at Q1FY27
Shareholders approved fund raising of up to Rs. 2,000 Cr via QIP or other permissible modes at the July AGM; no launch or allotment announced in the specified window

Frequently Asked Questions

How is Ujjivan SFB's microfinance book performing on collections and credit cost?

Management cited micro-banking Bucket X collection efficiency of about 99.7% in Q1FY27 (99.72% in the provisional Q2 update) and said the credit-cost outlook depends on that trend continuing. MFI slippages were below 2%, provision coverage was about 95%, and MFI credit cost was about 1.9% of the gross MFI portfolio, expected to be slightly below the previously guided 2%.

Why did Ujjivan SFB raise its FY27 RoA guidance?

Management raised the FY27 RoA guidance to 1.8%-2.0% from about 1.6% at Q1FY27, citing operating performance, improving asset quality and an enhanced cost outlook. It also acknowledged funding-rate conditions, CASA competition and asset-product pricing pressure, which it said were factored into the revised guidance.

What is the status of Ujjivan SFB's micro-mortgage portfolio quality?

The Q1FY27 concall summary reported a micro-mortgage portfolio of Rs. 1,800 Cr with PAR of about 1.5% versus 1.2% and GNPA of 0.55% versus 0.47%. Management also cited monthly collection efficiency of 99.7%-99.75% for the segment.

Who is running Ujjivan SFB after the CEO change, and when will a permanent MD & CEO be named?

Sanjeev Nautiyal ceased as MD & CEO effective September 1, 2026, citing health reasons, and RBI approved Executive Director Carol Furtado as Interim CEO for three months or until a regular appointment, whichever is earlier. Management said on the September 3 transition call that it expected to submit permanent-successor names to RBI in 3-4 months and that FY27 guidance remained on track.

Is Ujjivan SFB's loan book growing in line with its guidance?

Yes — the provisional Q2FY27 update showed gross loan book growth of 32.1% YoY to Rs. 45,699 Cr, ahead of the approximately 25% FY27 advances growth guidance. Growth was led by gold loans (up 209.7% YoY), agri banking (79.1%), vehicle loans (64.7%) and MSME (51.3%), consistent with the bank's secured-pivot strategy.