Lends against gold jewellery and against property to retail customers, operating a twin-engine model. Gold Loans are the larger engine — AUM of ₹11,191 cr in Q1 FY27, up 77% YoY, including a doorstep-gold offering of ₹1,787 cr (up 96.5% YoY) and a loan-book LTV of 67.9%. Loan-Against-Property and mortgages form the second engine at ₹9,777 cr AUM, up 14% YoY. The combined AUM is ₹21,136 cr, supported by 757 branches with AUM per branch of ₹17.7 cr; Q1 FY27 disbursements totalled ₹6,760 cr. Wholesale finance is being wound down — segment revenue was effectively nil on the half-year basis, and distribution fees (1.9% of segment revenue) are a small supplementary stream. Employee costs are the largest operating expense at 20.0% of FY26 revenue, with other operating expenses at 12.3%; cost of borrowings runs at 7.80% (Q1 FY27) against yields of 15.7% on the loan book, giving spreads of 8.5%. Asset quality is tight — GNPA 1.6%, NNPA under 1.0%, credit cost 0.8% — reflecting the secured nature of the book, with CRAR at 20.71%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail Finance (93%), Distribution (2%), Wholesale Finance (0%). Secured retail NBFC; gold-loan and LAP-led, fully secured book with tight asset quality
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,577 | 2,036 | 2,224 |
| EBITDA (ex other income) | 999 | 1,162 | 1,392 |
| margin % | 63.4 | 57.1 | 62.6 |
| Owners' profit | 245 | 225 | 344 |
| EPS, as reported (₹) | 7.22 | 6.06 | 9.20 |
| ROE % · ROCE % | 10.8 · — | 8.8 · — | 11.7 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 |
| Cash from operations | (776) | (978) | (1,664) |
| Capex | (11) | (18) | (28) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 513 | 533 | 523 | 520 | 535 | 555 | 616 | 670 |
| Profit before tax | 86 | 25 | 99 | 100 | 107 | 118 | 135 | 153 |
| Net profit | 65 | 19 | 72 | 75 | 80 | 88 | 101 | 114 |
| EPS (₹) | 1.74 | 0.50 | 1.92 | 2.01 | 2.15 | 2.35 | 2.69 | 3.05 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 6,43,552 | 31.7 | 5.50 | 11.6 | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 2,42,019 | 18.1 | 3.67 | 6.7 | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,57,446 | 27.2 | 5.17 | 6.9 | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,54,110 | 28.2 | 3.27 | 6.5 | 10.4 | — | — | 75.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · 31st AGM notice and FY26 Annual Report sent to shareholders | board shareholder meetings | low | — | — |
| 5 Sept 2026 · AGM notice dispatch and e-voting details published in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · Fedbank Financial Services submits BRSR for FY 2025-26 | compliance | low | — | — |
| 4 Sept 2026 · Fedbank Financial Services files FY26 annual report, PAT rises 52.6% | results | high | — | — |
| 4 Sept 2026 · Fedbank Financial 31st AGM notice on Sep 29 with key resolutions | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · Allotment of 82,977 equity shares on ESOP exercise | capital market events | low | — | — |
| 1 Sept 2026 · Fedbank Financial held investor calls with ChrysCapital and Bay Capital | investor communications | low | — | — |
| 1 Sept 2026 · Fedbank publishes 31st AGM notice in English and Marathi newspapers | compliance | minimal | — | — |
| 28 Aug 2026 · Fedbank Financial Services held analyst meetings with three institutional investors on Aug 28, 2026 | investor communications | low | — | — |
| 25 Aug 2026 · Borrowing cap hiked to Rs 23000 Cr, Rs 2500 Cr NCD plan, AGM on Sept 29 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| MUTHOOT FINANCE LIMITED | 1,12,094 | 9.9 | 2.82 | 3.9 | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 62,349 | 27.4 | 3.96 | — | 13.8 | — | — | 33.1 |
| HDB FINANCIAL SERVICES L | 55,706 | 20.2 | 2.70 | — | 12.3 | — | — | 58.0 |
| SUNDARAM FINANCE LTD | 52,217 | 23.3 | 3.51 | 6.7 | 13.8 | — | — | 78.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.4 | 18.2 | 97 of 212 | 55% |
| P/B | 2.0 | 1.1 | 173 of 245 | 30% |
| ROE | 11.7 | 3.0 | 41 of 266 | 85% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 65.7 | 48.6 | 96 of 249 | 62% |
| Revenue growth | 28.9 | 12.6 | 87 of 231 | 63% |
| Profit growth | 52.5 | 7.8 | 86 of 251 | 66% |
| Market cap | 5928 | 37 | 21 of 260 | 92% |
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| 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 |
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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.
