BSE: 531878
ANJANI FINANCE LTD.
Operates as a Non-Banking Financial Company (NBFC) alongside a wind power generation business. The Finance segment accounted for 57.7% of segment revenue at ₹0.638 crore in FY26, with EBIT of ₹0.2675 crore; this is the lending arm, and filings show fresh borrowings of ₹125.17 lakh and loans/advances of ₹98.18 lakh appearing on the books as of H1 FY26, indicating active lending. The Wind Electricity Generation segment contributed 42.3% of segment revenue at ₹0.4669 crore in FY26 with EBIT of ₹0.3348 crore, making it the more profitable segment on a margin basis. Total revenue from operations for FY26 stood at ₹52.09 lakh, down from ₹63.80 lakh in FY25, while PAT was ₹15.92 lakh (vs ₹46.40 lakh in FY25). The largest cost line is employee costs at 35.1% of revenue, followed by other operating expenses at 23.0%. Total assets were ₹15.3297 crore with cash and equivalents of ₹502.46 lakh at H1 FY26. Equity share capital stands at ₹1,014.33 lakh. The registered office is in Indore and the company is listed on BSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Finance Segment (58%), Wind Electricity Generation (42%). Small, NBFC-licensed entity with a side wind-power generation business
Exhibit 1: Financial summary, FY20–FY24 (all audited; no estimate years)
| ₹ crore · consolidated | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | 1 | 1 | (1) | 3 | 1 |
| margin % | 65.1 | 77.0 | (36.0) | 190.7 | 72.8 |
| Owners' profit | 0 | 0 | 0 | 0 | 1 |
| EPS, as reported (₹) | 0.75 | 102.34 | (0.78) | 6.89 | 0.64 |
| ROE % · ROCE % | 1.4 · — | 2.7 · — | (7.1) · — | 49.2 · — | 4.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | — | 3 | 1 | 0 | 6 |
| Capex | — | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 2 | (0) | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | (0) | 2 | (0) | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 3 | 3 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.14 | 0.35 | 2.96 | 3.26 | 0.24 | 0.29 | 0.09 | 0.02 |
Exhibit 3: Segment revenue, FY24
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Finance Seqment | 1 | 52.6 |
| wind electricity generation Seqment | 0 | 26.8 |
| Finance Segment | 0 | 15.4 |
| Wind Electricity Generation Segment | 0 | 5.3 |
| Total, before eliminations | 1 | 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 | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.9 | 18.1 | 80 of 200 | 60% |
| P/B | 0.6 | 1.1 | 62 of 253 | 75% |
| ROE | 4.5 | 3.1 | 111 of 257 | 57% |
| EBITDA margin | 70.0 | 48.6 | 83 of 249 | 67% |
| Profit growth | (99.3) | 7.8 | 192 of 251 | 24% |
| Market cap | 8 | 34 | 228 of 268 | 15% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board to approve quarter and half-year results on 4 November | results | low | — | — |
| 7 Oct 2026 · Routine dematerialisation compliance certificate filed for Sep 2026 quarter | compliance | minimal | — | — |
| 26 Sept 2026 · Submission of Outcome 37th AGM of the company held on Thursday 24.09.2026 at 03:00 PM and concluded at 03:16 PM | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 37th AGM voting results: All 5 resolutions passed with strong majority | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure ahead of Q2 and half-yearly results | compliance | minimal | — | — |
| 2 Sept 2026 · Revised 37th Annual Report and AGM Notice Submitted | investor communications | medium | — | — |
| 2 Sept 2026 · Revised notice of 37th AGM on Sept 24, 2026 (BSE 531878) | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Newspaper publication of notice for 37th AGM | compliance | minimal | — | — |
| 31 Aug 2026 · Letters sent to shareholders without registered emails about 37th AGM | compliance | minimal | — | — |
| 31 Aug 2026 · Anjani Finance 37th AGM notice and annual report for FY26 filed | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| 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.