BSE: 538788
Gilada Finance & Investments L
Operates as a small Bangalore-based non-banking financial company (NBFC) listed on BSE (Scrip Code 538788) that lends money and earns interest income. In FY26, total income stood at ₹743.57 lakhs (up from ₹710.04 lakhs the prior year), while profit after tax was ₹217.42 lakhs, growing 2.1% year-on-year. The lending portfolio includes related party loans of ₹781.87 lakhs, equal to 24.17% of total loans, with Stage 2/3 loan assets of ₹2.37 crore and a disputed income tax liability of ₹20.51 lakhs for AY 2017-18 flagged by the auditor. Funding comes primarily through privately placed non-convertible debentures at coupons of 11.25% and 12.25%, and Q3 FY26 finance costs more than doubled year-on-year to ₹31.63 lakhs from ₹13.59 lakhs, weighing on margins. Employee cost at 19.9% of revenue and other operating expenses at 20.1% of revenue form the bulk of the cost base, with negligible depreciation and capex. The board approved a strategic joint venture with Harley of London India (HOLI) for healthcare, wellness, lifestyle and financial services under the "HOLNESS" ecosystem. The H1 FY26 cash flow statement shows negative operating cash flow of about ₹8 lakh despite a profit before tax of ₹149 lakh. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Lending and NBFC operations, Joint venture and allied services. Small, asset-light NBFC with related-party lending concentration and rising funding costs
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4 | 4 | 6 | 7 | 7 |
| EBITDA (ex other income) | 2 | 1 | 3 | 4 | 4 |
| margin % | 45.4 | 27.5 | 54.0 | 59.1 | 59.1 |
| Owners' profit | 1 | 2 | 2 | 2 | 2 |
| EPS, as reported (₹) | 3.78 | 1.08 | 1.21 | 1.52 | 1.52 |
| ROE % · ROCE % | 6.6 · — | 7.5 · — | 7.8 · — | 8.9 · — | 8.3 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 1 | (3) | (7) | 3 | 1 |
| 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 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net profit | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 0 |
| EPS (₹) | 0.39 | 0.39 | 0.35 | 1.52 | 0.39 | 0.40 | 0.43 | 0.33 |
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) | 7.5 | 18.1 | 42 of 200 | 79% |
| P/B | 0.6 | 1.1 | 76 of 253 | 69% |
| ROE | 8.3 | 3.1 | 74 of 257 | 72% |
| EBITDA margin | 61.0 | 48.6 | 107 of 249 | 57% |
| Revenue growth | (17.3) | 12.6 | 164 of 231 | 29% |
| Profit growth | (66.3) | 7.8 | 170 of 251 | 32% |
| Market cap | 16 | 34 | 184 of 268 | 32% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) for Sept 2026 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 for Q2 results | compliance | minimal | — | — |
| 11 Sept 2026 · 32nd AGM held; key items include share capital hike and director re-appointment | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Newspaper ad submission for 32nd AGM notice | compliance | minimal | — | — |
| 20 Aug 2026 · Notice of 32nd AGM and Annual Report for FY26 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Board approves Q1 FY27 results, NCD allotment, new auditor | results | high | — | — |
| 5 Aug 2026 · Board meeting on Aug 10 to consider Q1 FY27 results and Rs 10 Cr NCD allotment | results | low | — | — |
| 14 Jul 2026 · Compliance certificate for share dematerialisation for Q1 FY27 | compliance | minimal | — | — |
| 23 Jun 2026 · Trading Window Closure from 1 July 2026 | compliance | minimal | — | — |
| 19 Jun 2026 · Board approves JV with Harley of London India, allots NCDs worth Rs 5 lakh | management changes | medium | — | — |
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.