BSE: 519214
WILLIAMSON FINANCIAL SERVICES
Runs as a Non-Banking Financial Company focused on investments, with operations across 191 branches and a base in North Guwahati, Assam. Listed on BSE under scrip code 519214, the entity held total assets of Rs. 141.42 crore as of FY26. The revenue base is negligible — Rs. 0.0054 crore in FY26 — against employee costs at 3,414.8% of revenue and other operating expenses at 355,598.1% of revenue, meaning fixed costs vastly exceed income. Net worth has been fully eroded at negative Rs. 366.76 crore, and on 22 June 2026 the RBI cancelled the Certificate of Registration as an NBFC under Section 45-IA of the RBI Act. The balance sheet carries unsecured loans of Rs. 14.68 crore with only Rs. 3.90 crore provisioned, and inter-corporate borrowings on which Rs. 34.98 crore of interest expense has not been recognised. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. NBFC investment activities. Investment-focused NBFC; net worth fully eroded; RBI NBFC certificate cancelled in June 2026.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 4 | 2 | 0 | 0 |
| EBITDA (ex other income) | (32) | (27) | (9) | (5) | (19) |
| margin % | (6703.6) | (750.0) | (401.5) | (57122.6) | (358913.0) |
| Owners' profit | (20) | (19) | (5) | (4) | (4) |
| EPS, as reported (₹) | (24.46) | (22.14) | (5.64) | (5.32) | (5.29) |
| ROE % · ROCE % | 6.3 · — | 5.3 · — | 1.4 · — | 1.2 · — | 1.2 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 2 | 19 | 5 | 24 | 1 |
| 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 | 1 | 0 | (0) | (5) | (0) | (4) | (0) | 0 |
| Net profit | 1 | 0 | (0) | (5) | (0) | (5) | (0) | 0 |
| EPS (₹) | 0.70 | 0.13 | (0.08) | (6.07) | (0.07) | (5.45) | (0.19) | 0.04 |
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 |
|---|---|---|---|---|
| Revenue growth | (100.0) | 12.6 | 220 of 231 | 2% |
| Profit growth | 107.0 | 7.8 | 63 of 251 | 75% |
| Market cap | 3 | 34 | 259 of 268 | 3% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Company Secretary Anushree Biswas Dutt resigns citing personal reasons | management changes | medium | — | — |
| 16 Oct 2026 · Company Secretary and Compliance Officer resigns | management changes | medium | — | — |
| 6 Oct 2026 · Compliance certificate for share dematerialization filed | compliance | minimal | — | — |
| 25 Sept 2026 · Williamson Financial Services 53rd AGM held on 25 Sept 2026, four resolutions passed | board shareholder meetings | low | — | — |
| 25 Sept 2026 · AGM voting results: All 4 resolutions passed with over 99.99% approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 53rd AGM results: all 4 resolutions approved with strong majority | compliance | minimal | — | — |
| 25 Sept 2026 · 53rd AGM: All 4 resolutions passed with requisite majority | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading Window Closed From October 1 for Q2 Results | compliance | minimal | — | — |
| 11 Sept 2026 · Corrigendum to FY2025-26 Annual Report; fixes typesetting errors only | results | medium | — | — |
| 11 Sept 2026 · Corrigendum to Annual Report for FY 2025-26 | compliance | minimal | — | — |
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.