 

Particulars Industry P/E
Lowest 12.14
Average 25.15
i The industry high and low has been considered from the industry peer set provided later in this section
ii For Industry P/E, P/E figures for the peers are computed based on closing market price as on February 12, 2021 at
BSE, divided by Basic EPS (on consolidated basis unless otherwise available only on standalone basis) based on
financial results of the respective company for the year ended March 31, 2020 submitted to stock exchanges

 

 

 

 

 

 

Return on Net Worth (““RoNW”)

Derived from the Restated Financial Statements:

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year ended RoNW (%) Weight
March 31, 2018 2.13 1
March 31, 2019 10.27 2
March 31, 2020 10.43 3
Weighted Average 8.99
December 31, 2020* 4.61
December 31, 2019* 11.78

 

+ Not annualised

; Net profit, as restated, attributable to equity shareholders
(i) Return on Net Worth (%) = Net worth at the end of the period/year

 

 

ii) “Net worth” means the aggregate of Capital and Reserves and Surplus
(iii) The Weighted Average Return on Net Worth is a product of Return on Net Worth and respective assigned weight,
dividing the resultant by total aggregate weight

Net Asset Value (“NAV”) per Equity Share

 

 

 

 

 

 

 

Fiscal year ended/ Period ended NAV per Equity Share (=)
As on December 31, 2020 133.54
After the completion of the Issue at Issue Price 155.98
(i) _ Issue Price per Equity Share will be determined on conclusion of the Book Building Process
Net asset means total assets minus total liabilities excluding revaluation

(ii) Net: asset value per Equity Share (Basic) reserves.

 

Total number of Basic Equity Shares outstanding at the end of the year

(iii) Net Assets for the purpose of NAV at Issue Price is computed as NAV as on December 31, 2020 as increased by
proceeds of shares issued post December 31, 2020 and proceeds from fresh issue of shares at the Issue Price.
(iv) Post December 31, 2020, issue of capital comprises of the following:
a) 8,533,226 equity shares issued on private placement basis
b) 262,661 equity shares issued basis ESOPs exercised
©) 8,150,000 fresh issue of shares proposed vide resolution dared March 02, 2021 for the IPO of equity shares.

Comparison with Listed Industry Peers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name of the company Total Face PE EPS EPS | RoNW | NAV per
income | Value (Basic) | (Diluted) | (%) equity
@in per @ @ share (2)
million) | equity
share (2)
Suryoday Small Finance Bank] 8,541.38 10; 22.74] 13.41 13.30] 10.43) 123.13
Limited*
Listed Peers
Ujjivan Small Finance Bank Limited _| 30,258.14 10.00 16.16 2.19 2.18] 14.79 18.32
CreditAccess Grameen Limited 17,054.80 10.0 311i] 23.20] -23.00[—12.27| 189.90
Spandana Sphoorty Financial Limited | 14,695.06 10.00 12.14| 56.21 55.74| _13.40| 408.29
Bandhan Bank Limited 1,24,346, 10.00 17.97 18.78 18.76[ 41.08] 94.37
91
‘AU Small Finance Bank Limited 49,919.76 10.00 48.34|22.78[22.32[51.95| 142.20
* Financial information for Suryoday Small Finance Bank Limited is derived from the Restated Financial Statements

for the year ended March 31, 2020, P/E Ratio has been computed at the Issue Price/ Basic EPS for year ended March 31, 2020 from
the Restated Financial Statements.
Notes*:

107
