RATING

RECOMMENDATION

Neutral

  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Neutral

Business Type

Traditional Business

RATING

RECOMMENDATION

Neutral

Business Type

Traditional Business

  • Utkarsh CoreInvest Growth

Utkarsh CoreInvest Revenue Growth

Growth in %

  • 24.24%

    1 Year

  • 37.30%

    3 Year

  • 28.84%

    5 Year

The revenue of the company has grown from Rs. 687.0 Cr in 2021 to Rs. 854.0 Cr in FY22 due to better disbursal of the loans on account of low interest by RBI due to Covid-19 disruptions.

During FY2019-20, the revenue of the company has increased by more than doubled from Rs. 330.0 Cr in 2019 to Rs. 750.0 Cr on account of growth in the housing loan portfolio by 123.8% to Rs 85.4 Cr in FY2019-20. The growth in House loans is majorly due to tax deductions given to First-time homebuyers and supported by government initiatives like the PM's Awas Yojana.

The growth in MSME vertical's loan portfolio, including personal loans, grew by 49.2% from Rs 164.9 Cr in FY19 to Rs 246.2 Cr in FY20. The growth is due to the sector receiving a GST relief in the recent GST council meeting and RBI’s recent decision to permit a one-time restructuring of MSME loans that have defaulted but are not non-performing as of 1 January.



Utkarsh CoreInvest Net Profit Growth(PAT)

Growth in %

  • 143.83%

    1 Year

  • NA

    3 Year

  • 12.58%

    5 Year

The company reported an increase in its net profit from Rs. 26.0 Cr in 2021 to Rs. 62.0 Cr in 2022 due to better disbursals of loans and better management of expenses. The company reported a net loss of Rs. 89 .0 Cr in 2019 on account of loss booked on sale of investment of Rs.133 Cr.

Utkarsh CoreInvest EPS Growth

Growth in %

  • 141.83%

    1 Year

  • NA

    3 Year

  • -6.31%

    5 Year

The EPS of the company increased from Rs. 2.6 in 2021 to Rs. 6.3 in 2022 due to rise in income on account of business growth which is supported by its expanding franchise and presence and diversified product offerings. The other income of the company also added to rise in EPS on account of rise in insurance commission.

  • Utkarsh CoreInvest Book Value Growth

Growth in %

  • 19.07%

    1 Year

  • 21.27%

    3 Year

  • 27.16%

    5 Year

The book value of the company is increasing year on year (y-o-y) due to company retaining its net profit and not giving away any dividends

Utkarsh CoreInvest EBITDA Growth

Growth in %

  • 71.70%

    1 Year

  • 706.51%

    3 Year

  • 23.61%

    5 Year

The EBITDA of the company increased from Rs. 95.0 Cr in 2021 to Rs.164.0 Cr in 2022 due to better demand on account of low interest rates by RBI to support the economy and better management of the expenses of the company.

Utkarsh CoreInvest Operating Profit Growth

Growth in %

  • 123.34%

    1 Year

  • NA

    3 Year

  • 8.91%

    5 Year

Operating profit of the company showed a growth of 225.0% from Rs. 36 Cr in 2021 to Rs. 81.0 Cr in 2022. The huge rise in operating profit of the company is due to better utilization of assets of the company to cater the rising demand due to low interest rates with optimal expenses 

Utkarsh CoreInvest Asset Growth

Growth in %

  • 10.49%

    1 Year

  • 29.28%

    3 Year

  • 36.58%

    5 Year

Assets of the company are increasing as company is consistently doing investments in financial and non financial assets and the loan book of the company is increasing year on year. Despite the significant disruption caused by COVID-19 and subsequent socio-economic curbs, the Bank has opened 128.0 new banking outlets during FY2022

Utkarsh CoreInvest Cash Flow from Financing

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

Cash flow from financing has increased significantly in FY2021 due to rise in Proceeds from Borrowings mainly on account of rise in deposits and borrowings from other sources other than banks and financial institution

  • Utkarsh CoreInvest Solvency Ratios

Utkarsh CoreInvest D/E Ratio

Debt to equity of the company was initially higher due to the company raising the funds through debt only and due to the low reserves & surplus of the company. During FY 2016, the company started maintaining a balance between raising fund through debt and equity due to which there was a jump in equity share capital and reserves & surplus of the company and therefore Debt to Equity of the company started declining.

Utkarsh CoreInvest Current Ratio

From 2015 to 2019 current liabilities were very high compared to current assets due to high borrowing of the company. In 2019 company reduced current liability by repaying loan of Rs. 250 Crores and making additional investments in mutual fund.

Utkarsh CoreInvest Quick Ratio

Utkarsh CoreInvest Interest Coverage Ratio

Interest coverage ratio of the company is negligible due to rise in interest expenses on account of rising interest on borrowings and interest on leased assets

  • Utkarsh CoreInvest Operating Efficiency

Despite rise in total revenue of the company, Profit margin of the company is declining consistently due to rise in miscellaneous expenses and expenses on banking software.

Utkarsh CoreInvest Operating Profit EBIT Margin(OPM)


Utkarsh CoreInvest Profit Before Tax Margin (PBT Margin)

Utkarsh CoreInvest Profit After Tax Margin (PAT Margin)


  • Utkarsh CoreInvest Profitablity Ratio

Utkarsh CoreInvest Return on Equity(RoE)

Return on Equity of the company is declining consistently due to the decrease in profitability of the company. Last year Return on Equity of the company increased on account of growth in profitability of the company

Utkarsh CoreInvest Return to Assets (RoA)

Return on Assets in FY 2021 has increased due to increase in profitability of the company on account of better utilization of the assets

  • Utkarsh CoreInvest Valuation Ratios

Utkarsh CoreInvest Earning Yield

  • Utkarsh CoreInvest NBFC's Ratios

Utkarsh CoreInvest Tier 1 Capital Ratio

In 2017 Utkarsh CoreInvest Limited transferred all its assets and liabilities to its subsidiary “Utkarsh Small Finance Bank Limited” and therefore data of Tier 1 Capital Ratio and Tier 2 Capital Ratio is not available after 2016.

Utkarsh CoreInvest Tier 2 Capital Ratio

Utkarsh CoreInvest Tangibe Book Value

Tangible Book value of the the company has increased due to rise in Tangible assets of the company on account of investments done on buildings by the company