NSE: ADVIKCA · BSE: 539773
ADVIK CAPITAL LTD.
Operates as an RBI-registered, non-deposit-taking NBFC, with its Loan Division making up 99.8% of segment revenue in the quarter ended 30 June 2025 (Rs 7.3981 crore out of Rs 7.41 crore total segment revenue). The Loan Division booked an EBIT margin of 35.2% on that revenue, while the residual Securities/Share division contributed 0.2% of segment revenue and ran deep into negative EBIT. Cost lines are thin and typical of a financial-services business: materials of 0.4% of revenue, employee cost of 3.1%, other opex of 13.6%, and depreciation of 2.8%. Capex in FY25 was Rs 3.9375 crore (13.7% of revenue). Total assets stood at Rs 333.9973 crore at FY25. The group has one material subsidiary, Advikca Finvest Limited. A Rs 64 crore loan extended to Elitecon International Limited turned into a stressed asset, with the company issuing a recall notice for Rs 71.15 crore and securing Delhi High Court interim asset protection on Elitecon's assets. Quarterly NPAs under NBFC prudential norms triggered a sharp Rs 1,876.71 lakh impairment provision in Q3 FY26, pushing the company to a consolidated net loss of Rs 2,087.33 lakhs for that quarter. To bolster its capital base, the Board approved a rights issue of up to Rs 100 crore of equity shares of Re. 1 face value. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Loan Division (100%), Security/Share division (0%), Manufacturing Division (0%), Others (0%). Small, lending-focused NBFC with a thin cost base, no debt on the balance sheet, and recent asset-quality stress.
Exhibit 1: Financial summary, FY21–FY25 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 6 | 46 | 604 | 840 | 29 |
| EBITDA (ex other income) | 1 | 1 | 16 | 9 | 22 |
| margin % | 8.1 | 2.1 | 2.6 | 1.0 | 75.6 |
| Owners' profit | 0 | 0 | 0 | 6 | 8 |
| EPS, as reported (₹) | 0.00 | 0.10 | 16.80 | 0.18 | 0.17 |
| ROE % · ROCE % | 0.6 · — | 4.4 · — | 15.2 · — | 5.6 · — | 5.0 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | (2) | (89) | (52) | (112) |
| Capex | (0) | (0) | (0) | (1) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 210 | 320 | 228 | 102 | 7 | 7 | 6 | (3) |
| Profit before tax | 1 | 0 | 3 | (0) | (3) | 1 | 0 | (26) |
| Net profit | 0 | (1) | 2 | (0) | (1) | 0 | 1 | (21) |
| EPS (₹) | 0.01 | (0.05) | 0.06 | 0.00 | (0.02) | 0.01 | 0.01 | 0.34 |
Exhibit 3: Segment revenue, FY25
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Loan Divison | 8 | 2.3 |
| Securities/Share Division | 98 | 29.2 |
| Loan Division | 9 | 2.6 |
| Manufacturing Division | 0 | 0.0 |
| Security/Share division | 223 | 66.2 |
| Total, before eliminations | 338 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,77,005 | 31.2 | 5.36 | — | 9.9 | — | 25.2 | 71.0 |
| SHRIRAM FINANCE LIMITED | 2,26,163 | 16.0 | 2.03 | — | 6.4 | — | 22.5 | 73.0 |
| CHOLAMANDALAM IN & FIN CO | 1,53,126 | 24.4 | 4.43 | — | 9.5 | — | 26.5 | 70.3 |
| TATA CAPITAL LIMITED | 1,51,754 | 25.4 | 3.01 | — | 6.9 | — | — | 77.2 |
| MUTHOOT FINANCE LIMITED | 1,15,181 | 9.4 | 2.58 | — | 13.7 | — | 22.0 | 81.4 |
| SBI CARDS & PAY SER LTD | 55,671 | 21.4 | 3.24 | — | 8.4 | — | — | 33.2 |
| PIRAMAL FINANCE LIMITED | 52,063 | 26.2 | 1.67 | — | 3.2 | — | — | 64.7 |
| AUTHUM INVEST & INFRA LTD | 48,235 | 20.1 | 2.57 | — | 8.1 | — | — | 83.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.9 | 17.6 | 7 of 201 | 97% |
| P/B | 0.3 | 1.0 | 32 of 252 | 88% |
| ROE | 0.6 | 3.3 | 174 of 247 | 30% |
| EBITDA margin | 794.7 | 45.4 | 1 of 253 | 100% |
| Revenue growth | (102.8) | 21.1 | 225 of 226 | 0% |
| Profit growth | (8550.4) | 21.0 | 248 of 251 | 1% |
| Market cap | 59 | 36 | 110 of 266 | 59% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 17 Oct 2026 · Newspaper publication of Q2 and H1 FY26 unaudited financial results | compliance | minimal | — | — |
| 15 Oct 2026 · Advik Capital Q2 FY26: consolidated net loss of Rs 8.12 Cr, auditor flags ED proceedings | results | high | — | — |
| 15 Oct 2026 · Q2 FY26-27 Results - Net Loss Rs 6.93 Cr Consol, ED Probe Disclosed | board shareholder meetings | low | — | — |
| 12 Oct 2026 · Board Meeting on Oct 15 to consider Q2 and H1 FY27 results | results | low | — | — |
| 6 Oct 2026 · Reg 74(5) dematerialization certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · ADVIK CAPITAL 41st AGM: All 7 resolutions passed with strong majority | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 41st AGM held via video conferencing on Sept 30, 2026 | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure from October 1, 2026 | compliance | minimal | — | — |
| 9 Sept 2026 · Advik Capital completes 41st AGM notice dispatch and newspaper publication | compliance | minimal | — | — |
| 7 Sept 2026 · Advik Capital files 41st Annual Report for FY 2025-26 | results | high | — | — |
How to read this document
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|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.