MarketFriction

Fusion Finance Ltd

NSE FUSION · BSE 543652 · Microfinance Institutions
₹171.36 -2.12%
NSE close2026-10-01
52 week range136.50 - 243.00
Market cap₹2,802 Cr.
P/E16.6
IPO 2022 · -53% since Price band 20% Delivery 59.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue547593646688692474466442401416424458
Interest191201215223227214179149134123132150
Expenses213243286532884773458387318284258244
Financing Profit143149145-67-420-513-171-93-5293364
Financing Margin %26%25%22%-10%-61%-108%-37%-21%-13%2%8%14%
Other Income2520291812910332860
Depreciation223233322222
Profit before tax166166172-51-410-508-165-92-22143762
Tax %24%24%23%-30%-26%42%0%0%0%0%-205%0%
Net Profit126126133-36-305-719-165-92-221411462
EPS in Rs7.757.808.19-2.20-18.82-44.38-10.15-5.69-1.370.877.083.86
Gross NPA %2.68%3.04%2.89%5.46%9.41%12.58%7.92%5.43%4.61%4.38%3.21%2.51%
Net NPA %0.65%0.77%0.77%1.25%2.41%1.71%0.30%0.19%0.38%0.63%0.51%0.47%
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue2664947208561,1511,7422,3172,3441,6991,699
Interest137254338375496643791844539540
Expenses1821722904376766389492,6461,2471,105
Financing Profit-53689343-20461577-1,146-8755
Financing Margin %-20%14%13%5%-2%26%25%-49%-5%3%
Other Income131017505896253446
Depreciation223457912109
Profit before tax-54681005724512663-1,133-6392
Tax %-26%26%30%23%11%24%24%8%-122%
Net Profit-3951704422387505-1,22514169
EPS in Rs-5.704.815.143.251.6123.9731.17-75.540.8610.44
Dividend Payout %0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%15%-1%-18%
Compounded Profit Growth%-21%-67%113%
Stock Price CAGR%%-33%-9%
Return on Equity%-3%-10%1%
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital4162797983100101101162
Reserves2145641,1201,1671,2552,2222,7481,5432,294
Borrowing1,6082,9292,9744,4325,7766,7788,6166,4025,571
Other Liabilities1065667159177263310247268
Total Liabilities1,9683,6114,2405,8387,2909,36411,7748,2938,295
Fixed Assets566181921312726
CWIP0000002219
Investments000000222
Other Assets1,9633,6044,2335,8207,2719,34211,7398,2618,248
Total Assets1,9683,6114,2405,8387,2909,36411,7748,2938,295
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-597-1,418-749-793-1,641-1,663-1,3501,4481,146
Cash from Investing Activity1841520101818317412
Cash from Financing Activity7411,6315451,4591,4181,5841,843-2,214-67
Net Cash Flow329229-184676-204-61524-6921,092
Free Cash Flow-599-1,421-753-801-1,647-1,671-1,3701,4411,128
CFO/OP-708%-433%-164%-177%-336%-140%-89%-489%254%
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %-15%12%8%4%2%21%20%-55%1%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters67.92%57.70%57.71%57.71%57.71%57.71%57.71%55.02%54.96%54.92%54.55%53.97%
FIIs5.15%6.74%5.97%3.95%2.82%0.56%1.69%2.99%3.92%4.89%4.75%4.77%
DIIs15.37%22.81%23.28%22.79%19.19%18.13%16.91%12.57%11.88%11.94%14.43%15.25%
Public11.02%12.26%12.65%15.17%19.90%23.24%23.32%29.19%29.01%28.03%26.06%25.78%
Others0.54%0.48%0.40%0.37%0.37%0.37%0.37%0.23%0.23%0.23%0.23%0.23%
No. of Shareholders59,39456,82456,75961,08777,70680,99977,22679,09776,68373,66770,00968,121

Fundamentals

Market Cap₹ 2,802 Cr.
Current Price₹ 173
Stock P/E16.6
Book Value₹ 152
ROCE5.92 %
ROE0.68 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-18%
Compounded Profit Growth (TTM)113%
Standalone figures.
Valuation
Market capRs 1,731 Cr
Enterprise valueRs 7,280 Cr
P/E (TTM)10.27x
Price to book1.05x
Price to sales1.02x
EV / EBITDA11.37x
EV / EBIT11.53x
EV / sales4.28x
Price to cash flow1.20x
Earnings yield9.73%
P/E, 3-year average9.53x
P/B, 3-year average1.37x
P/E, 5-year average9.53x
P/B, 5-year average1.37x
Profitability
Operating margin (excl. other income)-12.90%
Operating margin (incl. other income)-11.84%
EBITDA margin37.68%
Pre-tax margin5.40%
Net profit margin9.92%
Net margin, latest quarter13.62%
ROE-54.53%
ROCE-2.96%
ROA-12.20%
ROE, 3-year average-4.61%
ROCE, 3-year average8.47%
ROA, 3-year average-0.92%
ROE, 5-year average-1.71%
ROCE, 5-year average8.47%
ROA, 5-year average-0.31%
ROIC (approx.)9.49%
Tax rate-8.08%
Other income / net worth1.52%
Growth
Sales growth (latest year)1.17%
Profit growth (latest year)-342.34%
Sales CAGR, 3 years26.74%
Sales CAGR, 5 years26.62%
Sales growth QoQ8.05%
Profit growth QoQ-45.35%
Sales growth YoY (latest quarter)3.59%
Per share
EPS (TTM)Rs 16.68
EPS (latest year)Rs -121.21
EPS (latest quarter)Rs 6.18
EPS, 3-year averageRs -10.91
EPS, 5-year averageRs -4.99
Book value per shareRs 162.67
Sales per shareRs 168.22
Cash flow per shareRs 143.32
Free cash flow per shareRs 111.66
Efficiency
Asset turnover0.28x
Fixed asset turnover85.42x
Debtor days1 days
Debtors turnover633.50x
Leverage
Total debtRs 6,402 Cr
Cash and bankRs 853 Cr
Net debtRs 5,549 Cr
Debt to equity3.90x
Net debt / EBITDA8.67x
Interest coverage1.17x
Owners' fund to total sources19.82%
Debt to assets77.20%
Cash flow
Cash from Operating Activity (latest year)Rs 1,448 Cr
Cash from Investing Activity (latest year)Rs 74 Cr
Cash from Financing Activity (latest year)Rs -2,214 Cr
Net Cash Flow (latest year)Rs -692 Cr
Free cash flow (latest year)Rs 1,128 Cr
FCFE (approx.: FCF + change in debt)Rs -1,086 Cr
Sales to cash flow1.62x
Statement figures
Net sales (TTM)Rs 1,699 Cr
Net sales (latest year)Rs 2,344 Cr
Sales (latest quarter)Rs 458 Cr
Operating profit excl. other income (latest year)Rs -302 Cr
Operating profit (latest quarter)Rs 214 Cr
Other income (TTM)Rs 46 Cr
EBITDA (TTM)Rs 640 Cr
PBDT (TTM)Rs 101 Cr
Profit before tax (TTM)Rs 92 Cr
Tax (latest year)Rs 92 Cr
Net profit (TTM)Rs 169 Cr
Net profit (latest year)Rs -1,225 Cr
Net profit (latest quarter)Rs 62 Cr
Depreciation (TTM)Rs 9 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 540 Cr
Cost of goods sold (latest year)Rs 58 Cr
Total expenditure (latest year)Rs 2,646 Cr
Total income (latest year)Rs 2,369 Cr
Share capitalRs 101 Cr
ReservesRs 1,543 Cr
Shareholders' fundsRs 1,643 Cr
Total assetsRs 8,293 Cr
Net blockRs 27 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 2 Cr
ReceivablesRs 4 Cr
Other liabilitiesRs 247 Cr
Shares outstanding (crore)10.10
Ownership
Promoter holding53.97% (-1.05 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 10.3 is at the 18th percentile of its own 2.8-year range (median 95.5, low 4.6, high 307.3).
P/B 1.05 is at the 42th percentile (median 1.17).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodFUSIONNifty 50Difference
1 week-3.1%-2.8% -0.3 pts
1 month-12.0%-6.8% -5.2 pts
3 months-25.3%-7.6% -17.7 pts
6 months+24.0%+0.4% +23.6 pts
1 year-11.2%-9.9% -1.3 pts
2 years-37.9%-13.6% -24.3 pts
3 years-71.2%+14.2% -85.4 pts
21 mutual fund schemes hold about ₹430 Cr. Over three months 21 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Value Fund0.81%73 +53%
HDFC Banking & Financial Services Fund1.21%57 +38%
ICICI Pru Banking & Fin Serv Fund0.43%49 +5%
ICICI Pru Banking & Fin Serv Fund0.43%49 +5%
HDFC Dividend Yield Fund0.71%40 +43%
JM Small Cap Fund2.67%25 +119%
Aditya Birla SL Small Cap Fund0.33%21 +100%
Aditya Birla SL Banking & Financial Services Fund0.55%20 +41%
HDFC Balanced Advantage Fund0.02%18 +42%
Bandhan Business Cycle Fund1.19%13 +48%
Bandhan Financial Services Fund1.06%12 +33%
WOC Special Opp Fund0.59%12 +100%
HDFC Large & Mid Cap Fund0.03%10 +38%
WOC Banking & Financial Services Fund0.97%6 +75%
Union Business Cycle Fund1.17%6 +76%
ITI ELSS Tax Saver Fund1.24%6 +38%
ITI Large & Mid Cap Fund0.55%4 +75%
ITI Banking & Financial Services Fund1.02%4 +11%
Bandhan Balanced Advantage Fund0.17%4 +185%
Union Value Fund0.47%2 +39%
Motilal Oswal BSE 1000 Index Fund0.01%0 +34%

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Revenue ₹458 Cr +3.6% vs Jun 2025. Net profit ₹62 Cr +167.4%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-04-04Rights 55:91 @ Premium Rs 121/-
DateTypeWhat it says
2026-09-28General UpdatesGeneral Updates
2026-09-25CessationCessation of Mrs Priyanka Seth Wadhera as Chief Strategy Officer of the company w.e.f. September 25, 2026.
2026-09-17Concall / analyst meetSchedule of meet
2026-09-16ResignationResignation of Director/KMP/SMP
2026-09-15UpdatesGrant of ESOP - Disclosure under Regulation 30 and 51 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
2026-09-15CessationCessation of Mrs Pooja Mehta as CHRO of the company w.e.f. September 15, 2026.
2026-09-15AppointmentAppointment of Ms Chinmayi Trivedi as Chief Human Resource Officer of the company w.e.f. September 15, 2026.
2026-09-15Board meeting outcomeOutcome of Board Meeting held on September 15, 2026.
2026-09-08UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Tra...
2026-09-03General UpdatesGeneral Updates
2026-08-31Concall / analyst meetSchedule of meet
2026-08-17Concall / analyst meetTranscript
2026-08-15General UpdatesGeneral Updates
2026-08-13News clarificationThe Exchange has sought clarification from Fusion Finance Limited with respect to recent news item captioned Fusion Finance aims to cut microfin share...
2026-08-12News clarificationThe Exchange has sought clarification from Fusion Finance Limited with respect to recent news item captioned Fusion Finance aims to cut microfin share...
2026-08-11General UpdatesGeneral Updates
2026-08-11Shareholder meetingVoting results.
2026-08-10Concall / analyst meetLink of Recording
2026-08-10General UpdatesKey Managerial Personnel (KMP s) of our Company are authorized to determine materiality of an event or information and make disclosures to stock excha...
2026-08-10UpdatesGrant of ESOP - Disclosure under Regulation 30 and 51 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
2026-08-10Monitoring Agency ReportMonitoring Agency Report
2026-08-10Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-08-10Press ReleaseA press release dated August 10, 2026, titled "Press Release ".
2026-08-10Investor PresentationInvestor Presentation
2026-08-10Board meeting outcomeFusion Finance Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Fusion Finance Ltd?

Fusion Finance Ltd (FUSION) has a market capitalisation of Rs 2,802 Cr. at the 2026-10-01 close.

What is the P/E ratio of Fusion Finance Ltd?

Fusion Finance Ltd trades at a P/E of 16.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Fusion Finance Ltd's latest quarterly results?

In the Jun 2026 quarter, Fusion Finance Ltd revenue was Rs 458 Cr (+3.6% vs Jun 2025) and net profit was Rs 62 Cr.

What is the 52-week high and low of Fusion Finance Ltd?

The 52-week high is Rs 243.00 and the 52-week low is Rs 136.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03