Operates as a small Non-Banking Financial Company (NBFC) listed on BSE, focused on finance and investments. In FY26, total revenue from operations was ₹614.56 lakhs (₹6.15 crore), down 27.7% from ₹852.56 lakhs in FY25, while the company posted a net loss of ₹259.92 lakhs against a prior-year loss of ₹135.81 lakhs. Total assets stood at ₹121.78 crore. The statutory auditor flagged that interest income on roughly ₹22.35 crore of loans and advances has not been recognised due to documentation gaps, and ₹235.71 lakhs was written off as bad debts in FY26. The cost structure is dominated by other operating expenses at 118.7% of revenue, with employee costs at 13.5% and depreciation at 0.6%. In July 2026 the board approved entering India's digital personal loan business — digital personal loans, salary-based loans, loans to self-employed professionals and consumer finance — and plans to set up a fintech subsidiary for software development, subject to shareholder and RBI approvals. The company also filed a Draft Letter of Offer in February 2026 for a Rights Issue of up to ₹50 crore to raise fresh equity capital. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Finance and investments (existing NBFC lending and investment activity). Small, loss-making, professionally managed NBFC without a promoter; in transition toward technology-led retail lending
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 4 | 12 | 9 | 6 |
| EBITDA (ex other income) | 1 | 1 | 2 | (1) | (3) |
| margin % | 54.2 | 23.2 | 17.5 | (6.7) | (53.8) |
| Owners' profit | 1 | 1 | 2 | (1) | (3) |
| EPS, as reported (₹) | 0.02 | 0.01 | 0.01 | 0.01 | (0.02) |
| ROE % · ROCE % | 1.7 · — | 0.5 · — | 1.5 · — | (4.0) · — | (2.4) · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (15) | 10 | (16) | 14 | 3 |
| Capex | 0 | 0 | (0) | (0) | (0) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 3 | 2 | 2 | 3 | 2 | 2 | (0) |
| Profit before tax | (2) | 1 | (1) | 0 | 2 | 1 | 1 | (7) |
| Net profit | (2) | 1 | (0) | 0 | 2 | 1 | 0 | (6) |
| EPS (₹) | (0.02) | 0.01 | (0.00) | 0.00 | 0.02 | 0.01 | 0.00 | (0.05) |
| 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 · NCL Research publishes AGM notice in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · NCL Research: AGM notice and Annual Report for FY 2025-26 filed | board shareholder meetings | medium | — | — |
| 4 Sept 2026 · Book closure for AGM from 23 to 29 September 2026 | corporate actions | low | — | — |
| 1 Sept 2026 · Rights Issue of up to 49.95 crore shares at one rupee each; opens Sep 3 | compliance | minimal | — | — |
| 21 Aug 2026 · Revised record date for Rights Issue - 7 new shares per 15 held | corporate actions | medium | — | — |
| 21 Aug 2026 · Rights Issue at Par Worth Rs 49.95 Cr - Record Date Aug 27, 2026 | corporate actions | high | — | — |
| 21 Aug 2026 · Record date Aug 24 fixed for rights issue of Rs 49.95 cr | corporate actions | high | — | — |
| 21 Aug 2026 · Rights Issue of around Rs. 49.95 Cr at Rs. 1 per share, ratio 7:15 | corporate actions | high | — | — |
| 17 Aug 2026 · Board Meeting on Aug 21 to decide Rights Issue terms | corporate actions | medium | — | — |
| 14 Aug 2026 · BSE in-principle approval received for proposed Rights Issue | corporate actions | medium | — | — |
| 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 |
| 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/B | 0.7 | 1.1 | 73 of 245 | 68% |
| ROE | (2.4) | 3.0 | 227 of 266 | 15% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | 2809.8 | 48.6 | 1 of 249 | 100% |
| Revenue growth | (117.5) | 12.6 | 228 of 231 | 1% |
| Profit growth | (5744.0) | 7.8 | 246 of 251 | 2% |
| Market cap | 76 | 37 | 95 of 260 | 64% |
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| 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 |
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.
