BSE: 539819
Mudra Financial Services Ltd.
Earns interest income and fees/commission from non-banking financial services activities, with total income of ₹8,626 lakhs in FY26. Interest income of ₹7,235 lakhs (up 8.7% year-on-year) was the larger component, while fees and commission income was around ₹802 lakhs (down 30.7%). It is a small BSE-listed entity classified under Other Financial Services, with total assets of ₹10.9 crore and zero outstanding borrowings as of March 31, 2026. Employee costs dominate its cost base at 79.1% of revenue, with other operating expenses at 12.7%. Profit after tax fell sharply to ₹2.58 lakhs in FY26 from ₹15.68 lakhs in FY25, and the company does not hold a credit rating as it falls below the SEBI large-corporate threshold. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest income, Fees and commission income. Small, low-asset non-banking financial services company with no debt
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | 0 | 0 | 0 | 0 | 0 |
| margin % | 55.9 | 29.8 | 42.0 | 17.9 | 0.7 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.61 | 0.20 | 0.60 | 0.51 | 0.33 |
| ROE % · ROCE % | 3.1 · — | 1.0 · — | 2.9 · — | 2.4 · — | 1.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 0 | 0 | (0) | (0) | 0 |
| 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 (₹) | 0.21 | 0.27 | 0.31 | (0.28) | 0.19 | 0.03 | (0.05) | 0.15 |
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) | 14.8 | 19.0 | 31 of 76 | 60% |
| P/B | 0.2 | 1.0 | 13 of 105 | 89% |
| ROE | 1.5 | 1.3 | 51 of 111 | 55% |
| EBITDA margin | (28.0) | 25.6 | 81 of 91 | 11% |
| Revenue growth | (4.1) | (4.1) | 43 of 85 | 50% |
| Profit growth | 154.2 | (0.2) | 16 of 109 | 86% |
| Market cap | 2 | 26 | 108 of 113 | 5% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Newspaper publication of financial results for Q2 and H1 ended September 30, 2026 | compliance | minimal | — | — |
| 13 Oct 2026 · Q2 FY27 results: PAT at Rs 6.17L on one-time gain, core ops also up | results | high | — | — |
| 13 Oct 2026 · Board approves Q2 and H1 FY26-27 unaudited results | results | medium | — | — |
| 6 Oct 2026 · Board meeting on Oct 13, 2026 to consider Q2 and H1 FY26 financial results | results | low | — | — |
| 5 Oct 2026 · RTA submits Regulation 74(5) compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 18 Sept 2026 · 32nd AGM results - all 3 resolutions passed including MD re-appointment | board shareholder meetings | low | — | — |
| 17 Sept 2026 · 32nd AGM summary: 3 resolutions passed, MD re-appointed | board shareholder meetings | low | — | — |
| 17 Sept 2026 · 32nd AGM of Mudra Financial Services held on September 17, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Notice of 32nd AGM published in newspapers | compliance | minimal | — | — |
| 24 Aug 2026 · Book Closure for AGM from September 11 to 17, 2026 | corporate actions | 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.