Operates as a non-banking financial company (NBFC) that lends against gold, based in the Salem-Erode region of Tamil Nadu. The company raises the bulk of its funding through private placements of secured redeemable non-convertible debentures (NCDs) at Rs 1,000 face value; a 36-month monthly income scheme carries a 12% annual coupon paid monthly, while cumulative schemes run for 36 or 68 months. These NCDs are secured at 100% cover against current assets, loans, advances and gold loan receivables, with Vistra ITCL acting as debenture trustee. The Board has also approved a Rights Issue of equity shares for an amount not exceeding Rs 2,293.11 lakhs to existing shareholders. Holding company ICL Fincorp Limited is the largest subscriber, taking Rs 3 crore of the August 2026 NCD tranche. In FY26, total income was Rs 356.67 lakh against Rs 885.89 lakh in FY25, employee costs alone absorbed 108.4% of revenue, other operating expenses took 49.9% and depreciation 35%, producing a net loss of Rs 484.66 lakh for the year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Interest income from lending. Small, loss-making NBFC funded largely by privately placed secured NCDs and equity from its holding company.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 4 | 4 | 4 | 4 |
| EBITDA (ex other income) | 2 | 2 | 1 | (1) | (2) |
| margin % | 57.6 | 47.0 | 15.9 | (27.7) | (58.3) |
| Owners' profit | 1 | (0) | (2) | (5) | (5) |
| EPS, as reported (₹) | 0.62 | (0.08) | (1.59) | (4.12) | (4.23) |
| ROE % · ROCE % | 2.7 · — | (0.4) · — | (7.6) · — | (24.4) · — | (33.3) · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (6) | 2 | 15 | 3 | (5) |
| Capex | (0) | (0) | (8) | (1) | (0) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) |
| Net profit | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) |
| EPS (₹) | (1.14) | (0.74) | (1.19) | (1.05) | 0.86 | (1.05) | (1.10) | (1.22) |
| 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 | — | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Newspaper publication of Rights Issue pre-issue advertisement | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper publication of 95th AGM notice and e-voting info | compliance | minimal | — | — |
| 2 Sept 2026 · Book Closure for 95th AGM on September 30, 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · 95th AGM Notice and Annual Report for FY2025-26 filed | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · Notice of 95th AGM on September 30, 2026 via Video Conferencing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Newspaper publication of 95th AGM notice | compliance | minimal | — | — |
| 1 Sept 2026 · AGM on Sept 30 and re-appointment of Independent Director | management changes | medium | — | — |
| 1 Sept 2026 · AGM set for Sep 30; Independent Director re-appointed for second term | management changes | medium | — | — |
| 29 Aug 2026 · Record date set for proposed rights issue | corporate actions | medium | — | — |
| 29 Aug 2026 · Rights Issue approved at 1:1 ratio, Rs 20 per share, raise up to Rs 2,293.10 Lakhs | corporate actions | high | — | — |
| 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 |
| 75.8 |
| 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 | 2.0 | 1.1 | 172 of 245 | 30% |
| ROE | (33.3) | 3.0 | 256 of 266 | 4% |
| Debt / Equity | 0.0 | 0.0 | 5 of 266 | 11% |
| EBITDA margin | (100.2) | 48.6 | 216 of 249 | 13% |
| Revenue growth | (19.7) | 12.6 | 166 of 231 | 28% |
| Profit growth | (15.9) | 7.8 | 137 of 251 | 46% |
| Market cap | 29 | 37 | 139 of 260 | 47% |
| 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 |
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.
