Jana Small Finance Bank Limited Earnings Summary — Q4 FY2026
Jana Small Finance Bank Reports Record Disbursements and Improved Asset Quality in Q4 FY26
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 8 consecutive quarters.
- Revenue of ₹1,515 Cr is 22.1% higher year-on-year.
- Revenue has compounded at 14.7% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹155 Cr is 52.3% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at -27.7% annualised across the period.
- Operating margin stands at 43.6% in Q1 FY2027.
- Operating margin expanded by 402 bps year-on-year.
- Over the last two years operating margin has contracted by 168 bps.
- PBT margin is 10.3%.
- Expense growth of 13.9% remained below revenue growth of 22.1%.
- Operating profit of ₹660 Cr is 34.5% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 76/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 1,515 | 1,445 | 1,374 | 1,305 | 1,241 | 1,184 | 1,177 | 1,166 | 1,167 | 1,112 |
| Expenses | Improving | 854 | 861 | 899 | 791 | 750 | 696 | 665 | 681 | 639 | 604 |
| Operating Profit | Improving | 660 | 583 | 474 | 514 | 491 | 488 | 513 | 485 | 528 | 507 |
| Operating Margin | Stable | 43.6% | 40.4% | 34.5% | 39.4% | 39.6% | 41.3% | 43.5% | 41.6% | 45.3% | 45.6% |
| Other Income | Improving | 227 | 266 | 245 | 247 | 266 | 234 | 177 | 176 | 189 | 179 |
| Interest | Improving | 732 | 709 | 709 | 686 | 655 | 602 | 585 | 572 | 557 | 520 |
| Depreciation | Insufficient data | — | — | — | — | — | — | — | — | — | — |
| Profit Before Tax | Volatile | 155 | 140 | 10 | 75 | 102 | 120 | 105 | 88 | 160 | 166 |
| Tax | Strong Uptrend | — | — | — | — | — | -4 | -5 | -8 | -10 | -155 |
| Net Profit | Volatile | 155 | 140 | 10 | 75 | 102 | 123 | 111 | 97 | 171 | 322 |
| Net Margin | Volatile | 10.3% | 9.7% | 0.7% | 5.8% | 8.2% | 10.4% | 9.4% | 8.3% | 14.6% | 28.9% |
Key Takeaways
- Advances grew 23% YoY to ₹36,289 crores, with secured assets now comprising 72.6% of the total book.
- GNPA improved to 2.33% in Q4 FY26, down from 2.49% in Q3 FY26 and trending lower annually.
- The bank achieved its highest-ever quarterly disbursements of ₹5,372 crores in secured loans, a 12.5% QoQ increase.
- Cost of Funds (CoF) moderated significantly to 7.46% in Q4 FY26 compared to 8.03% in the same quarter last year.
- Approximately 77% of the unsecured loan portfolio is now covered under guarantee programs (CGMFU/CGTMSE).
- Net credit cost decreased to 0.47% for Q4 FY26, down from 0.79% in the preceding quarter.
- Deposit growth remained robust at 23% YoY, reaching a total of ₹35,784 crores.
Management Guidance
Management expects the lower net credit cost of 0.47% to be sustainable. The bank is targeting an 80% secured loan mix and plans to open or relocate approximately 78 outlets in FY27.
Sentiment Shift
Improving
Asset quality is showing clear signs of stabilization with slippages down 24% QoQ, while disbursements hit record highs.
Outlook
The outlook is positive driven by a strategic shift toward secured lending (Affordable Housing and Gold Loans) and a moderating cost of funds that supports NIM expansion.
From the Annual Report (Key Quotes)
“Net credit cost % down from 0.79% in Q3 FY26 to 0.47% for Q4 FY26 and will sustain.”
“Slippages for Q4 FY26 is lower by 24% vs Q3 FY26 and lowest in the year.”
“BC book performance in Q4 FY26 has turned around with B0 collections crossing 99% since January 2026.”
Official Quarterly Documents
This summary is AI-generated from Jana Small Finance Bank Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.