Aryaman Financial Services Ltd
Incorporated in 1994, Aryaman Financial Services Ltd is in the business of Merchant Banking, Investments (Strategic & Non Strategic)[1]
- Market Cap ₹ 721 Cr.
- Current Price ₹ 589
- High / Low ₹ 1,100 / 480
- Stock P/E 24.4
- Book Value ₹ 131
- Dividend Yield 0.00 %
- ROCE 22.1 %
- ROE 20.4 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 107% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.4%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -10.8% over past five years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 | 13 | 28 | 39 | 87 | 89 | 138 | 85 | 56 | 70 | 118 | 78 | |
| Interest | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 2 | 3 | 4 | 4 | 1 |
| 8 | 12 | 25 | 35 | 82 | 85 | 134 | 74 | 46 | 34 | 60 | 37 | |
| Financing Profit | 1 | 1 | 3 | 4 | 3 | 1 | 1 | 9 | 6 | 32 | 54 | 41 |
| Financing Margin % | 6% | 8% | 12% | 10% | 3% | 2% | 1% | 10% | 12% | 46% | 46% | 52% |
| -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 6 | |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | 3 | 4 | 2 | 1 | 1 | 8 | 6 | 32 | 54 | 47 |
| Tax % | 25% | 25% | 24% | 22% | 26% | 29% | 23% | 11% | 19% | 14% | 17% | 18% |
| 0 | 1 | 2 | 3 | 2 | 1 | 1 | 8 | 5 | 28 | 45 | 38 | |
| EPS in Rs | 0.35 | 0.61 | 2.05 | 2.41 | 1.52 | 0.78 | 0.66 | 3.99 | 3.36 | 15.11 | 25.77 | 24.14 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | -11% |
| 3 Years: | 12% |
| TTM: | -34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 46% |
| 5 Years: | 107% |
| 3 Years: | 96% |
| TTM: | -6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 71% |
| 3 Years: | 66% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 22% |
| 3 Years: | 25% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 5 | 6 | 14 | 17 | 19 | 18 | 24 | 30 | 44 | 61 | 116 | 148 |
| Borrowing | 1 | 0 | 3 | 18 | 32 | 33 | 28 | 31 | 41 | 46 | 28 | -0 |
| 4 | 5 | 8 | 18 | 16 | 14 | 20 | 26 | 36 | 41 | 68 | 77 | |
| Total Liabilities | 21 | 22 | 37 | 65 | 79 | 77 | 83 | 99 | 133 | 160 | 225 | 237 |
| 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 7 | 6 | 24 | 35 | 28 | 21 | 30 | 39 | 58 | 62 | 97 | 134 |
| 12 | 14 | 11 | 28 | 49 | 54 | 51 | 58 | 73 | 96 | 125 | 101 | |
| Total Assets | 21 | 22 | 37 | 65 | 79 | 77 | 83 | 99 | 133 | 160 | 225 | 237 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | -0 | 6 | -7 | -17 | -5 | 14 | 17 | 11 | 26 | 46 | 34 | |
| -2 | 2 | -11 | -7 | 8 | 6 | 2 | -3 | 1 | -6 | -12 | -28 | |
| 3 | -1 | 5 | 14 | 12 | -2 | -8 | 0 | 7 | 2 | -8 | -29 | |
| Net Cash Flow | 1 | 1 | 0 | 0 | 2 | -2 | 8 | 14 | 19 | 21 | 26 | -23 |
| Free Cash Flow | 1 | -1 | 6 | -7 | -18 | -6 | 14 | 17 | 10 | 26 | 46 | 33 |
| CFO/OP | 81% | -36% | 187% | -117% | -318% | -116% | 346% | 155% | 123% | 83% | 88% | 102% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 3% | 4% | 11% | 10% | 6% | 3% | 2% | 12% | 8% | 27% | 31% | 20% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Number of IPOs completed as Lead Manager count ・Standalone data |
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| Number of permanent employees count ・Standalone data |
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| Aggregate funds raised by clients (last 5 years) Rs Crore ・Standalone data |
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| Consecutive years as BSE SME Top Performing Merchant Banker years ・Standalone data |
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| Cumulative IPOs handled as Lead Merchant Banker count ・Standalone data |
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| Current IPO mandate (order book) Rs Crore ・Standalone data |
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| Market capitalization of listed clients Rs Crore ・Standalone data |
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| Sector-wise client diversification % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended June 30, 2026.
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Announcement Under Regulation 30 (LODR) - Investment In Wholly Owned Subsidiary
7 Jul - WOS allotted 3.42 lakh shares to Aryaman Financial Services for Rs 4.92 crore on Jun 25 and Jul 3, 2026.
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Closure of Trading Window
25 Jun - Trading window closes from July 1, 2026 until 48 hours after Q1 FY27 results.
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Announcement Under Regulation 30 (LODR) - Investment In Wholly Owned Subsidiary.
3 Jun - WOS Aryaman Finance allotted 55,555 shares to parent for Rs. 79.99 lakh via rights issue.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Filed Annual Secretarial Compliance Report for FY 2025-26; no non-compliances observed.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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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Services Offerings[1][2]
A) Fund Raising – Equity Capital Markets The company advises corporates and businesses of all sizes which are seeking to mobilize capital from investors in India and overseas through IPOs, FPOs, Rights Issues, and other ways of raising capital.
B) M&A Advisory and Open Offer Management: The M&A segment is engaged in turnkey transaction management and advises a diverse range of clients in medium to large transactions. It provides both buy-side and sell-side advisory services as part of our M&A advisory offerings.
C) Private Equity Offerings: It advises promoters and companies on the key considerations in a PE fundraising exercise.
D) Structured Finance Advisory: The company organizes appropriate financing solutions for client-specific situations and identifies and places the transaction with institutional investors. The portfolio of solutions comprises Promoter Financing and acquisition Financing.
E) Corporate Finance Advisory and Certifications: Managing corporate finance activities such as Schemes of Amalgamations, Mergers, ESOP Transactions, Foreign Remittance and Equity Placements, etc. [3]