BSE: 530109
ANUPAM FINSERV LIMITED
Functions as a non-banking financial company (NBFC) listed on BSE under script code 530109, operating two reporting segments: Financing and Leasing. Financing contributed 89.9% of FY26 segment revenue at an EBIT margin of 89.9%, while Leasing made up the remaining 10.1% of segment revenue and was loss-making at an EBIT margin of -2.8%. Employee cost is the largest expense line at 24.7% of revenue, followed by other operating expenses at 17.1% and depreciation at 6.5%, with no materials cost reported — a cost shape typical of a services-led lender. Funding for the lending book is supported primarily by equity, and the board approved a private placement programme of secured non-convertible debentures up to Rs 20 crore in May 2026, carrying a 12% annual coupon with tenures of 27 or 39 months; multiple tranches have been allotted since December 2025. Equity share capital stands at 18.98 crore shares of Rs 1 face value each, and the promoter group holds 51.747% of the company. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Financing (90%), Leasing (10%). Small, equity-funded NBFC focused on lending with a marginal, loss-making leasing arm
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 3 | 3 | 4 | 5 |
| EBITDA (ex other income) | 2 | 2 | 2 | 1 | 3 |
| margin % | 85.1 | 68.5 | 63.2 | 36.1 | 66.1 |
| Owners' profit | 1 | 1 | 1 | 1 | 2 |
| EPS, as reported (₹) | 0.11 | 0.07 | 0.08 | 0.04 | 0.10 |
| ROE % · ROCE % | 9.5 · — | 5.3 · — | 6.0 · — | 1.8 · — | 6.4 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 4 | 0 | 3 | (12) | (4) |
| Capex | (2) | (2) | (1) | (1) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 |
| Net profit | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 |
| EPS (₹) | 0.01 | 0.01 | 0.04 | 0.02 | 0.05 | 0.02 | 0.02 | 0.03 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Financing | 5 | 90.2 |
| Leasing | 0 | 6.5 |
| Lease | 0 | 3.3 |
| Total, before eliminations | 6 | 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) | 13.6 | 18.1 | 85 of 200 | 58% |
| P/B | 1.0 | 1.1 | 123 of 253 | 51% |
| ROE | 6.4 | 3.1 | 90 of 257 | 65% |
| EBITDA margin | 65.8 | 48.6 | 95 of 249 | 62% |
| Revenue growth | 49.1 | 12.6 | 63 of 231 | 73% |
| Profit growth | 63.9 | 7.8 | 77 of 251 | 70% |
| Market cap | 31 | 34 | 136 of 268 | 49% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 6 Oct 2026 · Reg 74(5) Certificate for Sep 2026 - no dematerialisations | compliance | minimal | — | — |
| 1 Oct 2026 · AGM Results: All 5 Resolutions Passed; Warrants Issue Approved | compliance | minimal | — | — |
| 30 Sept 2026 · 35th AGM approves warrants issue, CEO pay and related party deals | management changes | high | — | — |
| 21 Sept 2026 · Trading window closed from Oct 1, 2026 till 48 hrs after Q2/HY FY26 results | compliance | minimal | — | — |
| 8 Sept 2026 · Annual Report FY26 plus 35th AGM notice with warrant issue and remuneration | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Anupam Finserv 35th AGM rescheduled; preferential warrant terms revised | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Newspaper Publication of Q1 FY27 Financial Results | compliance | minimal | — | — |
| 13 Aug 2026 · Anupam Finserv 35th AGM notice on Sept 10, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Anupam Finserv Q1FY27 profit jumps 64% on 47% revenue growth | results | high | — | — |
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.