BSE: 538777
ASIA CAPITAL LIMITED
Operates as a small non-banking financial company (NBFC) on BSE, earning interest income from loans it extends. The loan book expanded sharply in FY26, rising to Rs. 290.69 lakhs from Rs. 30.25 lakhs the previous year, while borrowings were fully repaid to zero. FY26 revenue was Rs. 0.27 crore with net profit of Rs. 0.14 crore on total assets of Rs. 5.32 crore. The cost structure is dominated by other operating expenses at 68.4% of revenue, followed by employee costs at 24.7%. Cash and bank balances stood at Rs. 233.06 lakhs at year-end. Shareholders approved a doubling of authorised share capital to Rs. 10 crore via postal ballot in early 2026 to provide future fundraising flexibility, though no new shares were issued at that stage. The company qualifies for SEBI exemptions from several corporate governance requirements under small-company thresholds. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest income on loans. Small, asset-light NBFC earning interest income from a growing loan book
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 1 | 0 | 0 |
| EBITDA (ex other income) | 0 | 0 | 0 | 0 | 0 |
| margin % | 55.0 | 53.4 | 50.4 | 63.5 | 6.9 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.59 | 0.63 | 0.66 | 0.97 | 0.44 |
| ROE % · ROCE % | 4.1 · — | 4.2 · — | 4.2 · — | 5.8 · — | 2.6 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | (0) | (0) | 6 | (3) |
| Capex | 0 | 0 | 0 | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.28 | 0.25 | 0.28 | 0.16 | 0.03 | 0.20 | 0.17 | 0.04 |
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. % |
|---|---|---|---|---|---|---|---|---|
| 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 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 212.4 | 18.1 | 192 of 200 | 4% |
| P/B | 5.5 | 1.1 | 237 of 253 | 6% |
| ROE | 2.6 | 3.1 | 141 of 257 | 45% |
| EBITDA margin | 19.9 | 48.6 | 164 of 249 | 34% |
| Revenue growth | 90.3 | 12.6 | 42 of 231 | 82% |
| Profit growth | (73.1) | 7.8 | 175 of 251 | 30% |
| Market cap | 29 | 34 | 142 of 268 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Routine RTA certificate on dematerialisation for Q2 FY26-27 | compliance | minimal | — | — |
| 8 Oct 2026 · Asia Capital Company Secretary Withdraws Resignation | management changes | medium | — | — |
| 6 Oct 2026 · Company Secretary Prateek Sharma resigns | management changes | medium | — | — |
| 23 Sept 2026 · Trading Window Closure for Q2 and H1 FY26 Results | compliance | minimal | — | — |
| 19 Sept 2026 · AGM 2026: All 4 resolutions passed, borrowings of up to Rs 100 crore approved | board shareholder meetings | low | — | — |
| 19 Sept 2026 · Asia Capital 42nd AGM: All 4 resolutions passed with 99.99% majority | board shareholder meetings | low | — | — |
| 19 Sept 2026 · Secretarial Auditor appointed for five year term at AGM | management changes | medium | — | — |
| 19 Sept 2026 · 42nd AGM held; borrowings approved via special resolution among 4 items | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Notice of 42nd AGM and e-voting info published in newspapers | compliance | minimal | — | — |
| 25 Aug 2026 · Annual Report FY25-26 web link shared with shareholders without email IDs | 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.