Turnaround: liability franchise ahead of profits
Rules over the stated numbers only — CAGRs need positive start and end values, margins use the company's own OPM line, cash conversion is cumulative operating cash flow over cumulative profit for the last three fiscal years. Scores are 0–5 rule outputs, not a recommendation. Source: Tijori Finance normalised statements; Buoyant's own estimates are shown separately below and never blended in.
Where the app shows the same metric in more than one place, this table lists each figure with its period and definition. No two sources disagree on the same period and definition; every difference below is a period or definition difference.
| Metric | Source | Period | Definition | Value | Verdict |
|---|---|---|---|---|---|
| Net interest margin | Tijori ratio table | FY26 | NII ÷ average total assets (Tijori) | 5.60% | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori screener | FY26 | NII ÷ average total assets (Tijori) | 5.60% | ||
| Tijori quarterly table | Q Jun-26 | as reported by the bank (NII ÷ interest-earning assets) | 5.96% | ||
| Tijori operating metrics | Q 2026-06 | as reported by the bank (NII ÷ interest-earning assets) | 5.96% | ||
| Return on assets | Tijori ratio table | FY26 | net profit ÷ total assets, year-end (Tijori) | 0.43% | One source |
| Gross NPA | Tijori ratio table | FY26 | as reported | 1.61% | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori quarterly table | Q Jun-26 | as reported | 1.51% | ||
| CASA ratio | Tijori ratio table | FY26 | CASA ÷ deposits (Tijori) | 49.82% | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori screener | FY26 | CASA ÷ deposits (Tijori) | 49.82% | ||
| Tijori quarterly table | Q Jun-26 | as reported (bank's own CASA definition) | 50.80% | ||
| Return on equity | Tijori ratio table | FY26 | net profit ÷ year-end equity (Tijori) | 3.78% | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori screener | TTM | trailing 12 months (Tijori) | 3.78% | ||
| House model (one-pager) | FY26 | net profit ÷ average equity, standalone | 3.80% | ||
| Net profit | Tijori P&L | FY26 | consolidated, annual | ₹1,611 cr | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori P&L | TTM Jun-26 | trailing 12 months | ₹2,305 cr | ||
| Tijori screener | TTM | trailing 12 months | ₹2,304 cr | ||
| House model (one-pager) | FY26 | standalone, annual | ₹1,611 cr | ||
| Tijori quarterly table | Q Jun-26 | single quarter | ₹1,148 cr | ||
| EPS | Tijori ratio table | FY26 | consolidated, annual | ₹1.87 | One source |
| P/E | Tijori screener | TTM at 2026-09-28 | price ÷ trailing EPS | 31.80x | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori ratio table | FY26 year-end | year-end price ÷ that year's EPS | 31.41x | ||
| House model (one-pager) | FY27E | FY27E / FY28E P/E (Buoyant sheet) | 39.90x | ||
| P/B | Tijori screener | at 2026-09-28 | price ÷ book value per share | 1.51x | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori ratio table | FY26 year-end | year-end price ÷ book value | 1.07x | ||
| Market cap | BSE master | 2026-09-28 | BSE full market cap | ₹75,694 cr | Different basis Figures differ because they measure different periods or definitions; each is labelled. |
| Tijori screener | latest Tijori refresh | price × shares | ₹73,452 cr | ||
| House one-pager | 31-Jul-26 | as printed | ₹73,037 cr |
Tolerance for a conflict: 1.5% on the same period and definition (3% for market cap, which moves with the price date). Tijori's ratio table uses its own definitions; the quarterly table and operating metrics carry the company's reported figures; the house model is standalone and dated.
₹ crore. Actuals only; the last column is a TTM where labelled. Estimates are shown separately below with an "E" and never blended into this series.
| ₹ crore / % | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ cr) | 30,325 | 36,502 | 40,549 |
| EBITDA (₹ cr) | n.a. | n.a. | n.a. |
| Net profit (₹ cr) | 2,942 | 1,490 | 1,611 |
| ROE (%) | n.a. | n.a. | 3.8 |
Estimate columns (E) are in green italics.
| ₹ crore unless % | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | TTM Jun-26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Income | 10,218 | 13,056 | 17,963 | 18,180 | 20,345 | 27,195 | 36,257 | 43,478 | 48,422 | 49,914 |
| Interest Earned | 9,098 | 12,204 | 16,240 | 15,968 | 17,173 | 22,728 | 30,325 | 36,502 | 40,549 | 41,958 |
| Interest/Discount on advances/Bills | 4,890 | 8,081 | 12,007 | 12,633 | 14,174 | 19,159 | 25,916 | 30,835 | 34,199 | 35,501 |
| Other Income | 1,120 | 852 | 1,722 | 2,211 | 3,173 | 4,467 | 5,932 | 6,977 | 7,874 | 7,956 |
| Interest Expended | 7,126 | 8,743 | 10,228 | 8,585 | 7,465 | 10,091 | 13,870 | 17,208 | 19,333 | 19,701 |
| Operating_expenses | 1,797 | 6,091 | 5,765 | 7,053 | 9,597 | 12,108 | 16,148 | 18,892 | 21,904 | 22,632 |
| PPOP | 1,295 | -1,778 | 1,970 | 2,542 | 3,284 | 4,996 | 6,239 | 7,379 | 7,186 | 7,581 |
| Provisions and Contingencies | 340 | 102 | 4,813 | 2,058 | 3,151 | 2,511 | 3,296 | 5,889 | 5,575 | 4,864 |
| Net Profit | 880 | -1,908 | -2,843 | 483 | 132 | 2,485 | 2,942 | 1,490 | 1,611 | 2,305 |
| Number of shares(Crs) | 340 | 478 | 481 | 568 | 622 | 662 | 707 | 732 | 860 | — |
| Dividend Payout Ratio(%) | 29.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 12.28 | 13.35 | — |
Consolidated where the company reports consolidated; Tijori Finance normalisation of company filings. Fiscal years end 31 March; "TTM" columns are trailing twelve months to the stated quarter. Quarterly growth is year-on-year (same quarter, prior year). Quarterly balance-sheet and cash-flow data are not disclosed and are not implied. Bank preset: NII, PPOP, provisions, NIM, GNPA, CASA, ROA/ROE; P/B. Industrial leverage ratios suppressed.
| Ratio | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross NPA (%) | 2.99 | 3.31 | 2.40 | 2.60 | 4.15 | 3.70 | 2.51 | 1.88 | 1.87 | 1.61 |
| CASA Ratio (%) | 5.06 | 11.79 | 12.87 | 32.16 | 51.77 | 48.41 | 49.73 | 47.25 | 46.91 | 49.82 |
| Net Interest Margin (%) | 1.97 | 1.67 | 2.25 | 4.46 | 4.87 | 5.41 | 5.58 | 5.84 | 5.87 | 5.60 |
| Return On Assets (%) | 0.95 | 0.80 | -1.28 | -1.80 | 0.31 | 0.07 | 1.16 | 1.10 | 0.47 | 0.43 |
| Credit Deposit Ratio (%) | 123.00 | 109.00 | 123.00 | 132.00 | 114.00 | 112.00 | 105.00 | 97.02 | 92.50 | 95.27 |
| ROE (%) | 7.24 | 6.38 | -11.23 | -16.92 | 2.90 | 0.68 | 10.60 | 10.14 | 4.24 | 3.78 |
| EPS | 3.00 | 2.58 | -3.99 | -5.91 | 0.85 | 0.21 | 3.75 | 4.16 | 2.04 | 1.87 |
| P/E | 19.79 | 18.32 | n.m. | n.m. | 65.43 | 186.00 | 14.65 | 18.11 | 27.00 | 31.41 |
| Price to Book Value | 1.37 | 1.06 | 1.45 | 0.66 | 1.77 | 1.17 | 1.41 | 1.65 | 1.06 | 1.07 |
| Book Value | 14,677.00 | 15,274.00 | 18,199.00 | 15,404.00 | 17,900.00 | 21,082.00 | 25,848.00 | 32,274.00 | 38,156.00 | 47,404.00 |
Bank preset: NII, PPOP, provisions, NIM, GNPA, CASA, ROA/ROE; P/B. Industrial leverage ratios suppressed. Suppressed for this preset: EV/EBITDA, Net Debt, Interest Coverage, Debt to Equity, Operating Profit Margin, Working Capital, Cash Conversion, Inventory, Receivable, Payable.