BSE: 512247
ASHIRWAD CAPITAL LTD.
Operates as a BSE-listed financial services entity running a single investment and financing business, with no separate reportable segments. Revenue from operations was Rs 1.45 crore for FY26, with quarterly revenue from operations of Rs 113.35 lakh in Q2 FY26 versus Rs 40.50 lakh in Q2 FY25, and Rs 88.46 lakh in Q3 FY26. The activity centres on extending short-term loans, which pushed operating cash flow to negative Rs 110 lakh in H1 FY26. Borrowings of Rs 277 lakh sat against equity of Rs 2,026 lakh, generating finance costs of Rs 14.09 lakh in Q2 FY26. Total assets were Rs 22.27 crore, with cost structure dominated by other operating expenses at 13.6% of revenue and employee cost at 1.5%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Investment and financing (100%). Small, BSE-listed financial services entity with a single investment and financing segment
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 2 | 1 | 1 |
| EBITDA (ex other income) | 1 | 1 | 2 | 1 | 1 |
| margin % | 91.3 | 86.2 | 91.6 | 84.3 | 84.9 |
| Owners' profit | 1 | 1 | 2 | 1 | 1 |
| EPS, as reported (₹) | 0.25 | 0.19 | 0.26 | 0.09 | 0.12 |
| ROE % · ROCE % | 7.8 · 8.8 | 5.7 · 6.4 | 8.2 · 9.1 | 4.3 · — | 5.4 · 7.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | — | 0.16 |
| Cash from operations | 1 | (2) | (1) | 2 | 0 |
| Capex | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| EPS (₹) | 0.04 | 0.01 | 0.01 | 0.00 | 0.09 | 0.01 | 0.01 | 0.03 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.5 | 19.0 | 33 of 76 | 57% |
| P/B | 1.0 | 1.0 | 52 of 105 | 50% |
| ROCE | 6.2 | 1.8 | 27 of 83 | 68% |
| ROE | 5.4 | 1.3 | 30 of 111 | 74% |
| Debt / Equity | 0.2 | 0.0 | 53 of 77 | 32% |
| EBITDA margin | 96.2 | 25.6 | 18 of 91 | 81% |
| Revenue growth | 1722.3 | (4.1) | 4 of 85 | 96% |
| Profit growth | 1182.2 | (0.2) | 3 of 109 | 98% |
| Market cap | 20 | 26 | 65 of 113 | 43% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · RTA Compliance Certificate Under Reg 74(5) for Q2 FY26-27 | compliance | minimal | — | — |
| 28 Sept 2026 · Ashirwad Capital 40th AGM: All 3 resolutions passed with over 99.99% approval | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Ashirwad Capital 40th AGM held on Sep 28; all resolutions passed | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Ashirwad Capital 40th AGM notice: book closure Sep 22-28, e-voting Sep 24-27 | compliance | minimal | — | — |
| 2 Sept 2026 · 40th AGM notice on Sep 28, 2026; Annual Report FY25-26 dispatched | compliance | minimal | — | — |
| 2 Sept 2026 · Notice of 40th AGM scheduled for September 28, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Ashirwad Capital submits FY26 Annual Report; revenue up 41%, PAT up 22% | results | high | — | — |
| 21 Aug 2026 · 40th AGM on Sep 28, 2026; books closed Sep 22-28 | board shareholder meetings | low | — | — |
| 21 Aug 2026 · 40th AGM scheduled on September 28, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Board approves 40th AGM notice, books closure Sep 22 to 28 | board shareholder meetings | low | — | — |
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.