NSE: SAHLIBHFI · BSE: 511754
SHALIBHADRA FINANCE LTD
Operates as an RBI-registered non-banking financial company that lends to retail borrowers in rural and semi-urban India, focused on small-ticket vehicle financing. Revenue from operations for FY26 was ₹41.05 crore, with Net Interest Income — interest earned on the loan book less interest paid on borrowings — at ₹35.90 crore. The lending book is disbursed through 61 owned branches across 4 states and serves over 1.13 lakh customers, with nearly 100% of the book secured. Employee costs account for 11.7% of revenue and other operating expenses for 13.3%, while depreciation is minimal at 0.3% and capex is negligible at 0.0%. The company ended FY26 with total assets of ₹232.23 crore, a net worth of ₹172 crore, and a Capital Adequacy Ratio (CRAR) of 78.28%, and funded itself in part through ₹1,950 lakh of 12% listed debentures issued in April 2026. Asset quality showed mild stress, with Gross NPA at 2.94% and Net NPA at 1.17%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail vehicle financing and related lending income. Retail-focused NBFC with a rural and semi-urban vehicle financing book
Exhibit 1: Financial summary, FY23–FY23 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 |
|---|---|
| Revenue | 28 |
| EBITDA (ex other income) | 18 |
| margin % | 66.7 |
| Owners' profit | 0 |
| EPS, as reported (₹) | 15.33 |
| ROE % · ROCE % | 10.7 · — |
| Debt / equity (x) | — |
| Cash from operations | (5) |
| Capex | 0 |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q4 FY23 | Q1 FY24 |
|---|---|---|
| Revenue | 8 | 7 |
| Profit before tax | 3 | 3 |
| Net profit | 2 | 2 |
| EPS (₹) | 3.76 | 3.97 |
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) | 9.6 | 18.1 | 54 of 200 | 73% |
| P/B | 2.9 | 1.1 | 207 of 253 | 18% |
| ROE | 10.7 | 3.1 | 50 of 257 | 81% |
| EBITDA margin | 68.4 | 48.6 | 89 of 249 | 65% |
| Market cap | 230 | 34 | 62 of 268 | 77% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Company Secretary Megha Singh resigns from Shalibhadra Finance | management changes | high | — | — |
| 14 Oct 2026 · Quarterly RTA compliance certificate filed with BSE and NSE | compliance | minimal | — | — |
| 13 Oct 2026 · Board approves NCD issue of Rs 24 crores via private placement | fund raising | medium | — | — |
| 7 Oct 2026 · Board meeting on Oct 13 to consider NCD issuance via private placement | fund raising | medium | — | — |
| 3 Oct 2026 · Company Secretary and Compliance Officer resigns | management changes | medium | — | — |
| 1 Oct 2026 · 35th AGM outcome: All 8 resolutions approved with 100% votes in favour | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading Window Closed from Oct 1, 2026 Ahead of Q2 Results | compliance | minimal | — | — |
| 30 Sept 2026 · Outcome of 35th AGM of Shalibhadra Finance Ltd | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Board approves Rs 20 crore NCD issuance via private placement | fund raising | medium | — | — |
| 11 Sept 2026 · Board meeting on 17 Sep to consider NCD issuance via private placement | fund raising | 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.