NSE: SUNDARMFIN · BSE: 590071
SUNDARAM FINANCE LTD
Operates as a non-banking financial company whose primary business is asset financing, which accounted for 92.5% of segment revenue at Rs 9,071.07 crore in FY26, with segment EBIT of Rs 2,445.71 crore. The remaining 7.5% of segment revenue, Rs 740.28 crore, came from an 'Others' category with EBIT of Rs 285.05 crore. Total revenue for FY26 was Rs 9,808.92 crore; of the itemized operating costs, employee expenses at 10.8% are the largest, followed by other operating expenses at 3.9% and depreciation at 2.5%. Net profit for FY26 was Rs 2,058.86 crore on a balance sheet of Rs 85,795.41 crore. In FY26, disbursements totalled Rs 32,321 crore, gross Stage 3 assets stood at 1.44%, and the board declared a total dividend of Rs 40 per share, taking the FY26 payout to Rs 444.42 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Asset Financing (93%), Others (8%). NBFC concentrated in asset financing, with a cost structure typical of financial services businesses
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 0 | 7,267 | 8,486 | 9,809 |
| EBITDA (ex other income) | 0 | 5,543 | 6,819 | 7,607 |
| margin % | — | 76.3 | 80.4 | 77.6 |
| Owners' profit | 0 | 1,842 | 1,879 | 2,059 |
| EPS, as reported (₹) | 0.00 | 130.31 | 170.53 | 186.81 |
| ROE % · ROCE % | 0.0 · — | 16.6 · — | 14.2 · — | 13.8 · — |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | (8,215) | (8,486) | (8,985) | (5,892) |
| Capex | (25) | (83) | (46) | (55) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,085 | 2,190 | 2,259 | 2,349 | 2,386 | 2,514 | 2,560 | 2,644 |
| Profit before tax | 557 | 601 | 765 | 575 | 650 | 682 | 773 | 767 |
| Net profit | 436 | 455 | 553 | 475 | 488 | 541 | 554 | 636 |
| EPS (₹) | 39.57 | 41.33 | 50.17 | 43.12 | 44.29 | 49.12 | 50.28 | 57.71 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Asset Financing | 6,871 | 70.0 |
| Others | 554 | 5.6 |
| a) Asset Financing | 2,200 | 22.4 |
| b) Others | 186 | 1.9 |
| Total, before eliminations | 9,811 | 100.0 |
Exhibit 4: 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.6 | 18.1 | 102 of 200 | 49% |
| P/B | 2.9 | 1.1 | 207 of 253 | 18% |
| ROE | 13.8 | 3.1 | 22 of 257 | 92% |
| EBITDA margin | 78.4 | 48.6 | 59 of 249 | 77% |
| Revenue growth | 12.6 | 12.6 | 116 of 231 | 50% |
| Profit growth | 33.9 | 7.8 | 96 of 251 | 62% |
| Market cap | 43766 | 34 | 7 of 268 | 98% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Employee exercises 56 stock options | capital market events | low | — | — |
| 8 Oct 2026 · ESOP exercise: 43 stock options by 1 employee | capital market events | low | — | — |
| 7 Oct 2026 · ESOP exercise - 121 stock options exercised under SFESOS 2008 | capital market events | low | — | — |
| 7 Oct 2026 · Filing of dematerialisation certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · ESOP exercise: 20 options under Grant 15 | capital market events | low | — | — |
| 30 Sept 2026 · ESOP exercise: 108 stock options exercised by two holders | capital market events | low | — | — |
| 29 Sept 2026 · ESOP exercise - 1 employee exercises 50 options | capital market events | low | — | — |
| 28 Sept 2026 · ESOP exercise: 204 options exercised by 2 employees under SFESOS 2008 | capital market events | low | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 results announcement | compliance | minimal | — | — |
| 25 Sept 2026 · Sundaram Finance - ESOP exercise of 167 stock options | capital market events | 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.