Suryoday Small Finance Bank Limited

NSEI:SURYODAY Stock Report

Market Cap: ₹18.3b

Suryoday Small Finance Bank Future Growth

Future criteria checks 5/6

Suryoday Small Finance Bank is forecast to grow earnings and revenue by 37.4% and 28.2% per annum respectively. EPS is expected to grow by 37.3% per annum. Return on equity is forecast to be 13.8% in 3 years.

Key information

37.4%

Earnings growth rate

37.32%

EPS growth rate

Banks earnings growth11.1%
Revenue growth rate28.2%
Future return on equity13.80%
Analyst coverage

Low

Last updated11 May 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 05

SURYODAY: Planned Equity And Debt Raises Will Support Bullish Outlook

Analysts have lifted their fair value estimate for Suryoday Small Finance Bank slightly from ₹236 to ₹240, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that together support a modestly higher target. What's in the News A board meeting is scheduled for May 07, 2026 to consider and approve audited financial results for Q4 and the full year ended March 31, 2026, and to consider a dividend recommendation and record date, as per a company filing.
Narrative Update • Apr 27

SURYODAY: Planned ₹10b Equity Raise Will Support Bullish Outlook

Analysts have kept their fair value estimate for Suryoday Small Finance Bank steady at ₹236 per share, with only minor model adjustments to the discount rate, revenue growth, profit margin and future P/E underpinning the unchanged price target. What's in the News Board meeting scheduled on May 7, 2026 to consider approval of audited financial results for Q4 and the financial year ended March 31, 2026, and to consider a dividend recommendation, including fixation of the record date (Key Developments).
Narrative Update • Apr 13

SURYODAY: Planned ₹10b Equity Raise Will Support Bullish Outlook

Analysts have kept the fair value estimate for Suryoday Small Finance Bank steady at ₹236, with only very small tweaks to assumptions such as the discount rate, revenue growth, profit margin and future P/E. This suggests their price target is effectively unchanged despite refreshed modelling inputs.
Narrative Update • Mar 27

SURYODAY: Planned Equity Raise And Director Reappointment Will Support Bullish Outlook

Analysts have maintained their fair value estimate for Suryoday Small Finance Bank at ₹236, reflecting only minor adjustments in inputs such as discount rate, revenue growth, profit margin and future P/E assumptions, rather than any change in the core view on the stock. What's in the News Board meeting scheduled for January 22, 2026, to review unaudited financial results for Q3 and the nine months ended December 31, 2025, and to consider raising up to ₹10,000 crore through various equity and equity linked instruments, including preferential allotment, QIP, private placement or rights issue (Key Developments).
Narrative Update • Mar 12

SURYODAY: Planned Equity Raise And Director Reappointment Will Support Bullish Outlook

Analysts have kept their fair value estimate for Suryoday Small Finance Bank steady at ₹236.0. A slightly lower discount rate and marginally adjusted long term revenue growth, profit margin and future P/E assumptions are guiding this unchanged price target. What's in the News A board meeting is scheduled for January 22, 2026 to review unaudited financial results for Q3 and the nine months ended December 31, 2025, and to consider a potential fund raise of up to ₹1,000 crore through various equity and equity linked instruments, including rights and private placements (Key Developments).
Narrative Update • Feb 26

SURYODAY: Planned Fundraising And Governance Moves Will Sustain Bullish Outlook

Analysts have kept their fair value estimate for Suryoday Small Finance Bank steady at ₹236.0 per share, with only minor tweaks to the discount rate, profit margin, revenue growth and future P/E assumptions helping to fine tune rather than fundamentally change their price target view. What's in the News Board meeting scheduled for January 22, 2026, to review unaudited financial results for Q3 and the nine months ended December 31, 2025, and to consider several capital related and governance items (Key Developments).
Narrative Update • Feb 09

SURYODAY: Planned Capital Raise Will Support Bullish Outlook

Analysts have kept their target for Suryoday Small Finance Bank steady at ₹236, citing only modest tweaks to assumptions such as a slightly lower discount rate and a marginally reduced forward P/E multiple, rather than any major shift in their overall view. What's in the News Board meeting scheduled for January 22, 2026, at 14:15 IST to consider unaudited Q3 and nine-month financial results for the period ended December 31, 2025 (Key Developments).
Narrative Update • Jan 26

SURYODAY: Planned Capital Raise Will Support Bullish Outlook

Analysts have kept their fair value estimate for Suryoday Small Finance Bank steady at ₹236.0, with the unchanged target reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E that they view as broadly offsetting each other. What's in the News Board meeting scheduled for January 22, 2026 at 14:15 IST to review unaudited financial results for Q3 and the nine months ended December 31, 2025 (Key Developments).
Narrative Update • Jan 10

SURYODAY: Planned Capital Raise And Board Actions Will Support Bullish Outlook

Analysts have kept their fair value estimate for Suryoday Small Finance Bank steady at ₹236, with only minor tweaks to discount rate, revenue growth, profit margin and forward P/E assumptions. As a result, the headline price target remains unchanged, while the underlying model inputs are slightly refined.
Narrative Update • Dec 15

SURYODAY: Upcoming Capital Raise And Board Decisions Will Support Bullish Outlook

Analysts have raised their price target on Suryoday Small Finance Bank from ₹178 to ₹236, citing expectations of slightly faster revenue growth and a richer future earnings multiple, despite broadly stable profit margins and a marginally lower discount rate. What's in the News Board meeting scheduled on November 6, 2025, to review and approve unaudited financial results for Q2 and the half year ended September 30, 2025 (company filing) Directors to consider raising equity capital via preferential allotment, QIP, private placement, or a mix of equity linked instruments and warrants, subject to shareholder and regulatory approvals (company filing) Proposal on the agenda to issue debt instruments, including bonds and non convertible debentures, contingent on necessary shareholder and statutory approvals (company filing) Valuation Changes The consensus analyst price target has risen significantly from ₹178 to ₹236.
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New Narrative • Mar 17

RBI Rate Cut And Digital Initiatives May Improve Bank's Future Prospects

Anticipated RBI rate cuts and microfinance reforms could enhance Suryoday's loan growth and stabilize revenue.
Analysis Article • Sep 06

Why We Think Suryoday Small Finance Bank Limited's (NSE:SURYODAY) CEO Compensation Is Not Excessive At All

Key Insights Suryoday Small Finance Bank will host its Annual General Meeting on 12th of September CEO Baskar...

Earnings and Revenue Growth Forecasts

NSEI:SURYODAY - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/202823,0723,522N/AN/A1
3/31/202719,1832,988N/AN/A1
3/31/202612,7391,520-28,377-27,621N/A
12/31/202511,197685N/AN/AN/A
9/30/202510,774652-21,026-20,302N/A
6/30/202510,599802N/AN/AN/A
3/31/202510,7801,150-16,593-14,824N/A
12/31/202411,5402,096N/AN/AN/A
9/30/202411,3982,335-11,802-10,121N/A
6/30/202411,0502,384N/AN/AN/A
3/31/202410,1552,160-17,315-16,758N/A
12/31/20239,2061,940N/AN/AN/A
9/30/20238,3031,548-17,748-17,183N/A
6/30/20237,0861,176N/AN/AN/A
3/31/20236,074777-15,032-14,105N/A
12/31/20224,691-93N/AN/AN/A
9/30/20224,126-226-16,178-14,738N/A
6/30/20223,714-376N/AN/AN/A
3/31/20222,860-930-10,321-9,406N/A
12/31/20212,708-879N/AN/AN/A
9/30/20212,517-916-8,144-7,948N/A
6/30/20212,745-624N/AN/AN/A
3/31/20213,407119-13,028-12,833N/A
12/31/20203,611391-7,357-7,084N/A
9/30/20204,244795N/AN/AN/A
6/30/20204,235952N/AN/AN/A
3/31/20204,2611,109-7,590-7,295N/A
12/31/20194,6111,546N/AN/AN/A
9/30/20194,0011,334N/AN/AN/A
6/30/20193,6721,100N/AN/AN/A
3/31/20193,335904N/A-13,891N/A
12/31/20182,810661N/AN/AN/A
9/30/20182,277456N/AN/AN/A
6/30/20181,874279N/AN/AN/A
3/31/20181,492115N/A-2,699N/A
3/31/20171,256151N/A-2,526N/A
3/31/20161,007274N/A-3,503N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SURYODAY's forecast earnings growth (37.4% per year) is above the savings rate (6.9%).

Earnings vs Market: SURYODAY's earnings (37.4% per year) are forecast to grow faster than the Indian market (16.2% per year).

High Growth Earnings: SURYODAY's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: SURYODAY's revenue (28.2% per year) is forecast to grow faster than the Indian market (10.9% per year).

High Growth Revenue: SURYODAY's revenue (28.2% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SURYODAY's Return on Equity is forecast to be low in 3 years time (13.8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/26 22:23
End of Day Share Price 2026/06/25 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Suryoday Small Finance Bank Limited is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullCentrum Broking Limited
Tanay JainCentrum Broking Limited