Price
Financials
Standalone, Rs crore| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.58 | 16.56 | 16.94 | 17.38 | 16.93 | 19.18 | 17.63 | 20.26 |
| Interest | 5.54 | 6.86 | 6.32 | 6.05 | 5.98 | 6.04 | 5.31 | 5.46 |
| Expenses | 2.39 | 3.65 | 8.70 | 3.84 | 5.27 | 3.52 | 3.16 | 3.60 |
| Financing Profit | 5.65 | 6.05 | 1.92 | 7.49 | 5.68 | 9.62 | 9.16 | 11.20 |
| Financing Margin % | 41.61% | 36.53% | 11.33% | 43.10% | 33.55% | 50.16% | 51.96% | 55.28% |
| Other Income | 0.00 | 0.04 | 0.00 | 0.04 | 0.04 | 0.04 | 0.06 | 0.05 |
| Depreciation | 0.08 | 0.08 | 0.31 | 0.39 | 0.40 | 0.40 | 0.39 | 0.47 |
| Profit before tax | 5.57 | 6.01 | 1.61 | 7.14 | 5.32 | 9.26 | 8.83 | 10.78 |
| Tax % | 24.78% | 24.29% | 38.51% | 25.07% | 25.38% | 28.83% | 25.82% | 25.51% |
| Net Profit | 4.19 | 4.55 | 0.98 | 5.35 | 3.98 | 6.59 | 6.55 | 8.03 |
| EPS in Rs | 1.32 | 1.05 | 0.23 | 1.23 | 0.92 | 1.52 | 1.51 | 1.85 |
| Gross NPA % | ||||||||
| Net NPA % |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 52 | 26 | 25 | 46 | 64 | 61 | 71 | 74 |
| Interest | 20 | 11 | 10 | 22 | 30 | 24 | 23 | 23 |
| Expenses | 16 | 10 | 9 | 11 | 17 | 18 | 16 | 16 |
| Financing Profit | 16 | 5 | 6 | 14 | 17 | 18 | 32 | 36 |
| Financing Margin % | 31% | 21% | 23% | 30% | 27% | 30% | 45% | 48% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit before tax | 15 | 5 | 5 | 14 | 17 | 18 | 31 | 34 |
| Tax % | 26% | 22% | 24% | 26% | 25% | 24% | 26% | |
| Net Profit | 11 | 4 | 4 | 10 | 13 | 13 | 22 | 25 |
| EPS in Rs | 6.03 | 3.07 | 5.17 | 5.80 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 22% | 16% | 15% | ||
| Compounded Profit Growth | % | 42% | 30% | 67% | ||
| Stock Price CAGR | % | % | % | 5% | ||
| Return on Equity | % | 11% | 10% | 10% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 7 | 9 | 11 | 22 | 43 |
| Reserves | 33 | 37 | 41 | 73 | 95 | 187 | 186 |
| Borrowing | 148 | 63 | 97 | 248 | 181 | 185 | 176 |
| Other Liabilities | 67 | 11 | 19 | 43 | 49 | 37 | 24 |
| Total Liabilities | 254 | 117 | 164 | 372 | 336 | 431 | 430 |
| Fixed Assets | 1 | 1 | 1 | 0 | 7 | 23 | 23 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Investments | 0 | 2 | 2 | 0 | 0 | 0 | 7 |
| Other Assets | 253 | 114 | 161 | 372 | 327 | 408 | 400 |
| Total Assets | 254 | 117 | 164 | 372 | 336 | 431 | 430 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -27 | -8 | -35 | -177 | 71 | -95 | 15 |
| Cash from Investing Activity | 0 | -2 | 0 | 2 | -8 | -2 | -8 |
| Cash from Financing Activity | 54 | -17 | 35 | 175 | -56 | 95 | -11 |
| Net Cash Flow | 28 | -27 | 0 | -1 | 8 | -2 | -3 |
| Free Cash Flow | -27 | -8 | -35 | -177 | 63 | -100 | 13 |
| CFO/OP | -70% | -43% | -205% | -492% | 162% | -212% | 39% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| ROE % | 29% | 9% | 9% | 16% | 13% | 8% | 10% |
| Oct 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 72.32% | 74.54% | 74.48% | 74.97% | 74.97% | 74.97% |
| FIIs | 9.53% | 5.63% | 3.56% | 2.75% | 2.16% | 1.98% |
| DIIs | 3.01% | 0.61% | 0.56% | 0.56% | 0.56% | 0.57% |
| Public | 15.13% | 19.22% | 21.40% | 21.72% | 22.30% | 22.48% |
| No. of Shareholders | 3,190 | 1,987 | 1,837 | 1,764 | 1,739 | 1,691 |
Fundamentals
Market Cap₹ 221 Cr.
Current Price₹ 50.8
Stock P/E8.79
Book Value₹ 52.8
ROCE13.5 %
ROE10.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)67%
Standalone figures.
Valuation
Market capRs 203 Cr
Enterprise valueRs 450 Cr
P/E (TTM)12.01x
Price to book2.47x
Price to sales2.88x
EV / EBITDA9.15x
EV / EBIT9.44x
EV / sales6.40x
Earnings yield8.32%
Profitability
Operating margin (excl. other income)76.85%
Operating margin (incl. other income)77.16%
EBITDA margin69.89%
Pre-tax margin33.13%
Net profit margin24.00%
Net margin, latest quarter34.36%
ROE15.68%
ROCE14.88%
ROA3.79%
ROE, 3-year average11.39%
ROCE, 3-year average12.75%
ROA, 3-year average2.94%
ROIC (approx.)10.67%
Tax rate26.32%
Other income / net worth0.17%
Growth
Sales growth (latest year)82.09%
Profit growth (latest year)145.65%
Sales CAGR, 3 years-3.68%
Profit CAGR, 3 years-3.19%
Sales growth QoQ13.29%
Profit growth QoQ65.58%
Sales growth YoY (latest quarter)15.82%
Profit growth YoY (latest quarter)44.84%
Per share
EPS (TTM)Rs 3.89
EPS (latest year)Rs 10.80
EPS (latest quarter)Rs 1.52
EPS, 3-year averageRs 7.66
Book value per shareRs 18.88
Sales per shareRs 16.20
Cash flow per shareRs -40.75
Free cash flow per shareRs 2.99
Efficiency
Asset turnover0.12x
Fixed asset turnover93.98x
Leverage
Total debtRs 248 Cr
Cash and bankRs 0 Cr
Net debtRs 247 Cr
Debt to equity3.02x
Net debt / EBITDA5.03x
Interest coverage1.96x
Owners' fund to total sources22.05%
Debt to assets66.50%
Cash flow
Cash from Operating Activity (latest year)Rs -177 Cr
Cash from Investing Activity (latest year)Rs 2 Cr
Cash from Financing Activity (latest year)Rs 175 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs 13 Cr
FCFE (approx.: FCF + change in debt)Rs 163 Cr
Cash from ops / profit, 5 years-3.56x
Statement figures
Net sales (TTM)Rs 70 Cr
Net sales (latest year)Rs 46 Cr
Sales (latest quarter)Rs 19 Cr
Operating profit excl. other income (latest year)Rs 35 Cr
Operating profit (latest quarter)Rs 16 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 49 Cr
PBDT (TTM)Rs 25 Cr
Profit before tax (TTM)Rs 23 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 17 Cr
Net profit (latest year)Rs 10 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 24 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 11 Cr
Total income (latest year)Rs 46 Cr
Share capitalRs 9 Cr
ReservesRs 73 Cr
Shareholders' fundsRs 82 Cr
Total assetsRs 372 Cr
Net blockRs 0 Cr
Other liabilitiesRs 43 Cr
Shares outstanding (crore)4.35
Ownership
Promoter holding74.97% (+0.43 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 12.0 is at the 24th percentile of its own 2.1-year range
(median 44.4, low 8.2, high 175.5).
P/B 2.47 is at the 8th percentile (median 3.85).
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.
| Period | USHAFIN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -16.3% | -2.8% | -13.5 pts |
| 1 month | -1.0% | -6.8% | +5.8 pts |
| 3 months | +35.0% | -7.6% | +42.6 pts |
| 6 months | +65.0% | +0.4% | +64.6 pts |
| 1 year | -48.1% | -9.9% | -38.2 pts |
Red flags
F-score 3 of 8| explain | Weak cash conversion Cash from operations was -1213% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 50% of total assets in 2026 |
| explain | Share dilution Share count up 43% in a year, 44% in three |
| look | On NSE surveillance On NSE surveillance: ESM |
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 2026Revenue ₹20 Cr +16.6% vs Jun 2025.
Net profit ₹8 Cr +50.1%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Bajaj Finance Ltd | 606,283 | 29.6 | 10.9 % |
| Shriram Finance Ltd | 228,598 | 20.2 | 11.5 % |
| Tata Capital Ltd | 140,654 | 25.9 | 8.58 % |
| Cholamandalam Investment & Finance Company Ltd | 139,031 | 24.2 | 9.71 % |
| Muthoot Finance Ltd | 109,874 | 9.66 | 15.8 % |
| L&T Finance Ltd | 67,935 | 21.2 | 8.40 % |
| SBI Cards & Payment Services Ltd | 55,290 | 24.3 | 10.1 % |
| HDB Financial Services Ltd | 52,415 | 19.0 | 9.09 % |
| Sundaram Finance Ltd | 48,161 | 21.2 | 9.44 % |
| Authum Investment & Infrastructure Ltd | 46,011 | 22.0 | 13.6 % |
| Mahindra & Mahindra Financial Services Ltd | 45,035 | 13.5 | 8.72 % |
| Poonawalla Fincorp Ltd | 39,011 | 49.6 | 7.51 % |
| Manappuram Finance Ltd | 29,725 | 20.5 | 8.25 % |
| IIFL Finance Ltd | 25,929 | 12.3 | 10.9 % |
| Capri Global Capital Ltd | 23,756 | 21.1 | 11.7 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
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.
ESM: stage 1Less than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded