Arman Financial Services Ltd

Arman Financial Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Arman Financial Services Ltd

₹ 1,760 4.56%
11 Jun - close price
armanindia.com BSE: 531179 NSE: ARMANFIN
About

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]

Key Points

Product Offerings
1) Microfinance: The company’s WOS, Namra Finance Ltd, offers women small-ticket loans under the JLG model for income-generating activities like livestock, dairy, agriculture-related businesses, and Kirana stores. It operates through 392 MFI branches, serving 6.56 lakh active customers across 11 states. [1]

Website BSE NSE
  • Market Cap ₹ 1,846 Cr.
  • Current Price ₹ 1,760
  • High / Low ₹ 2,542 / 1,110
  • Stock P/E 35.4
  • Book Value ₹ 834
  • Dividend Yield 0.00 %
  • ROCE 13.3 %
  • ROE 6.17 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company's median sales growth is 37.5% of last 10 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding is low: 22.1%
  • Contingent liabilities of Rs.1,230 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -5.39%

* 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

Financial Services Financial Services Finance Non Banking Financial Company (NBFC)

Part of BSE SmallCap BSE Allcap BSE Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
76 79 93 103 149 150 160 169 183 184 181 165 199
Interest 25 29 36 44 63 64 67 71 63 65 65 57 52
29 30 30 29 37 35 34 42 55 78 93 114 134
Financing Profit 22 20 27 30 49 50 59 56 65 41 23 -6 13
Financing Margin % 30% 26% 29% 29% 33% 34% 37% 33% 36% 22% 13% -4% 7%
0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 22 20 27 29 49 50 58 55 65 41 22 -7 13
Tax % 26% 21% 25% 25% 26% 20% 30% 24% 21% 24% 32% 5% -1%
16 16 20 22 36 40 41 42 51 31 15 -7 13
EPS in Rs 19.17 18.50 23.46 25.88 42.63 47.02 46.86 42.91 48.51 29.87 14.57 -6.93 12.18
Gross NPA % 4.10% 3.60% 2.80% 2.50% 2.48% 2.83% 2.88% 2.68% 3.74% 4.13% 3.37%
Net NPA % 0.70% 0.30% 0.20% 0.10% 0.23% 0.33% 0.31% 0.22% 0.64% 0.67% 0.55%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
24 30 41 54 78 139 214 195 235 424 661 730
Interest 9 11 16 24 34 59 88 79 89 172 266 239
9 9 12 20 34 44 72 103 99 126 166 420
Financing Profit 7 9 12 10 10 37 53 13 46 126 229 71
Financing Margin % 28% 32% 30% 19% 13% 26% 25% 6% 20% 30% 35% 10%
0 0 0 0 0 0 1 0 -0 0 0 0
Depreciation 0 0 0 0 0 0 1 1 1 1 1 2
Profit before tax 7 9 12 10 10 36 54 12 46 125 228 69
Tax % 32% 33% 34% 36% 26% 27% 23% 10% 30% 25% 24% 25%
5 6 8 6 7 26 42 11 32 94 174 52
EPS in Rs 7.92 10.77 13.99 11.05 12.76 45.98 49.13 12.51 37.35 110.46 165.67 49.69
Dividend Payout % 15% 13% 12% 11% 9% 4% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 38%
5 Years: 28%
3 Years: 46%
TTM: 10%
Compounded Profit Growth
10 Years: 24%
5 Years: 5%
3 Years: 18%
TTM: -70%
Stock Price CAGR
10 Years: 29%
5 Years: 32%
3 Years: 13%
1 Year: -23%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 19%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 7 7 7 7 7 7 8 8 8 8 10 10
Reserves 27 32 39 44 50 116 164 178 204 355 802 864
Borrowing 75 93 143 157 395 612 698 721 990 1,607 1,725 1,232
3 6 7 7 12 18 26 32 39 68 97 121
Total Liabilities 112 137 195 215 465 753 896 940 1,241 2,038 2,635 2,227
2 2 2 3 3 4 4 4 5 6 8 31
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 1 2 3 3 3 3 6 19 7 39
110 136 192 210 459 746 888 933 1,231 2,013 2,620 2,157
Total Assets 112 137 195 215 465 753 896 940 1,241 2,038 2,635 2,227

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-6 7 -1 21 -203 -221 -76 6 -281 -718 -302 493
-2 -1 -7 -2 -12 -1 2 2 -2 -13 18 -49
16 -5 1 -9 205 252 94 22 270 681 376 -495
Net Cash Flow 8 1 -7 10 -9 30 20 30 -12 -49 92 -51

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
ROE % 16% 17% 19% 13% 14% 29% 28% 6% 16% 33% 30% 6%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
27.39% 27.36% 27.35% 27.31% 27.26% 26.58% 23.65% 22.09% 22.09% 22.07% 22.07% 22.06%
5.14% 5.28% 5.13% 5.04% 4.86% 3.89% 6.64% 10.20% 5.18% 4.90% 1.97% 1.19%
0.47% 0.53% 0.76% 0.76% 0.81% 0.77% 7.66% 6.29% 6.16% 5.03% 4.51% 4.91%
67.00% 66.82% 66.76% 66.89% 67.05% 68.76% 62.05% 61.41% 66.56% 68.01% 71.44% 71.82%
No. of Shareholders 10,11311,13411,05311,19612,18513,75815,68819,74521,67636,33942,62941,400

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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