Arman Financial Services Ltd
Arman Financial Service Ltd is an RBI-registered category ‘A’ Non-Banking Finance Company. They provide loans to the unorganized sector residing in rural and semi-rural locales across six states with around 400 branches that cater to about 7.6 lakh customers.
Headquartered in Ahmedabad, Gujarat. Arman and its subsidiary provide three financial services, Two-Wheeler Finance, Group-Based Microfinance, and Micro-Enterprise (MSME) Loans. [1]
- Market Cap ₹ 1,959 Cr.
- Current Price ₹ 2,001
- High / Low ₹ 2,680 / 1,402
- Stock P/E 58.8
- Book Value ₹ 273
- Dividend Yield 0.00 %
- ROCE 15.7 %
- ROE 15.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 7.37 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -1.63%
- Promoter holding is low: 22.1%
- Company has a low return on equity of 11.9% over last 3 years.
- Contingent liabilities of Rs.871 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Finance Industry: Finance & Investments
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 16 | 17 | 18 | 15 | 16 | 17 | 27 | 47 | 67 | 61 | 63 | 94 | 123 |
Interest | 6 | 6 | 7 | 6 | 6 | 5 | 11 | 16 | 22 | 20 | 18 | 31 | 44 |
5 | 6 | 6 | 5 | 6 | 8 | 12 | 16 | 25 | 34 | 27 | 28 | 37 | |
Financing Profit | 5 | 5 | 5 | 4 | 4 | 4 | 5 | 14 | 20 | 7 | 18 | 36 | 42 |
Financing Margin % | 30% | 29% | 28% | 29% | 24% | 23% | 17% | 30% | 30% | 11% | 29% | 38% | 34% |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 3 | 3 | 2 | 3 | |
Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Profit before tax | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 16 | 23 | 9 | 21 | 38 | 44 |
Tax % | 33% | 30% | 32% | 34% | 33% | 34% | 28% | 21% | 20% | 15% | 24% | 25% | |
3 | 3 | 3 | 3 | 2 | 2 | 3 | 12 | 18 | 8 | 16 | 28 | 33 | |
EPS in Rs | 5.89 | 5.98 | 4.86 | 4.35 | 4.37 | 5.61 | 21.50 | 21.58 | 9.42 | 19.11 | 33.39 | 37.53 | |
Dividend Payout % | 11% | 14% | 20% | 30% | 39% | 28% | 22% | 8% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 19% |
5 Years: | 28% |
3 Years: | 12% |
TTM: | 43% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 55% |
3 Years: | 16% |
TTM: | 15% |
Stock Price CAGR | |
---|---|
10 Years: | 57% |
5 Years: | 43% |
3 Years: | 57% |
1 Year: | 40% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 13% |
3 Years: | 12% |
Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 4 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 9 |
Reserves | 16 | 17 | 26 | 27 | 29 | 31 | 33 | 89 | 112 | 119 | 132 | 219 | 259 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | |
36 | 58 | 43 | 48 | 38 | 47 | 101 | 162 | 171 | 153 | 178 | 322 | 399 | |
9 | 2 | 2 | 2 | 3 | 3 | 5 | 6 | 6 | 10 | 8 | 18 | 25 | |
Total Liabilities | 65 | 82 | 77 | 85 | 76 | 88 | 146 | 264 | 297 | 291 | 327 | 568 | 691 |
1 | 1 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 2 | 5 | 10 | 10 | 10 | 15 | 22 | 51 | 62 | 65 | 93 | 196 | 201 |
62 | 76 | 65 | 73 | 64 | 71 | 122 | 212 | 234 | 225 | 234 | 370 | 489 | |
Total Assets | 65 | 82 | 77 | 85 | 76 | 88 | 146 | 264 | 297 | 291 | 327 | 568 | 691 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
4 | -21 | 29 | -2 | 8 | 2 | -33 | -76 | -8 | 66 | -16 | -136 | |
-2 | -3 | -5 | 0 | -1 | -5 | -11 | -25 | -10 | 0 | -27 | -100 | |
4 | 22 | -15 | -0 | -17 | 3 | 44 | 105 | 14 | -18 | 25 | 206 | |
Net Cash Flow | 5 | -2 | 9 | -2 | -10 | -1 | 0 | 4 | -4 | 49 | -18 | -30 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROE % | 21% | 16% | 12% | 8% | 7% | 7% | 8% | 18% | 17% | 6% | 12% | 15% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 2d
- Announcement under Regulation 30 (LODR)-Change in Management 2 May
- Intimation Of Tax Ascertained Notice Received From GST Dept. 1 May
- Announcement under Regulation 30 (LODR)-Allotment 25 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 24 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Feb 2024Transcript PPT REC
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Business Segments
Consolidated AUM
AUM 2437 Cr in Q3FY24 vs 1654 Cr in Q3FY23
Microfinance-
AUM 2046 Cr in Q3FY24 vs 1367 Cr in Q3FY23. [1] Namra, a wholly-owned subsidiary of Arman, which manages the Microfinance division was the first company in India to be granted the NBFC-MFI license in 2013. [2]
This Segment provides small loans to women for livelihood promotion without collateral for agriculture and allied business, livestock farming, dairy, small kirana stores. It operates in 10 states, with 394 branches, ~7.6 lakh live customers. [3]