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 170 branches that cater to about 3.73 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]
Mr. Jayendra Patel is the MD & CEO and his son Mr. Aalok Patel has been appointed as joint Managing director wef Aug 2019. [2]
- Market Cap ₹ 1,796 Cr.
- Current Price ₹ 1,835
- High / Low ₹ 2,680 / 1,311
- Stock P/E 11.3
- Book Value ₹ 480
- Dividend Yield 0.00 %
- ROCE 18.7 %
- ROE 32.6 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 66.7% CAGR over last 5 years
- Company's median sales growth is 37.5% of last 10 years
Cons
- Stock is trading at 3.82 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: -2.86%
- Promoter holding is low: 23.7%
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | 24 | 30 | 41 | 54 | 78 | 139 | 214 | 195 | 235 | 424 | 628 |
Interest | 6 | 6 | 9 | 11 | 16 | 24 | 34 | 59 | 88 | 79 | 89 | 172 | 266 |
5 | 6 | 9 | 9 | 12 | 20 | 34 | 44 | 72 | 103 | 99 | 126 | 148 | |
Financing Profit | 5 | 5 | 7 | 9 | 12 | 10 | 10 | 37 | 53 | 13 | 46 | 126 | 214 |
Financing Margin % | 30% | 29% | 28% | 32% | 30% | 19% | 13% | 26% | 25% | 6% | 20% | 30% | 34% |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | -0 | 0 | 0 | |
Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
Profit before tax | 5 | 5 | 7 | 9 | 12 | 10 | 10 | 36 | 54 | 12 | 46 | 125 | 212 |
Tax % | 33% | 30% | 32% | 33% | 34% | 36% | 26% | 27% | 23% | 10% | 30% | 25% | |
3 | 3 | 5 | 6 | 8 | 6 | 7 | 26 | 42 | 11 | 32 | 94 | 159 | |
EPS in Rs | 5.91 | 7.92 | 10.77 | 13.99 | 11.05 | 12.76 | 45.98 | 49.13 | 12.51 | 37.35 | 110.46 | 179.42 | |
Dividend Payout % | 11% | 14% | 15% | 13% | 12% | 11% | 9% | 4% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 38% |
5 Years: | 40% |
3 Years: | 26% |
TTM: | 79% |
Compounded Profit Growth | |
---|---|
10 Years: | 40% |
5 Years: | 67% |
3 Years: | 31% |
TTM: | 115% |
Stock Price CAGR | |
---|---|
10 Years: | 57% |
5 Years: | 38% |
3 Years: | 44% |
1 Year: | 36% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 23% |
3 Years: | 20% |
Last Year: | 33% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 27 | 32 | 39 | 44 | 50 | 116 | 164 | 178 | 204 | 355 | 461 |
Preference Capital | 0 | 0 | 0 | 0 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 2 | |
36 | 58 | 75 | 93 | 138 | 152 | 395 | 612 | 698 | 721 | 990 | 1,604 | 1,862 | |
9 | 2 | 3 | 6 | 12 | 12 | 12 | 18 | 26 | 32 | 39 | 70 | 91 | |
Total Liabilities | 65 | 82 | 112 | 137 | 195 | 215 | 465 | 753 | 896 | 940 | 1,241 | 2,038 | 2,423 |
1 | 1 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 | 5 | 6 | 6 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 3 | 3 | 6 | 19 | 24 |
64 | 81 | 110 | 136 | 192 | 210 | 459 | 746 | 888 | 933 | 1,231 | 2,013 | 2,392 | |
Total Assets | 65 | 82 | 112 | 137 | 195 | 215 | 465 | 753 | 896 | 940 | 1,241 | 2,038 | 2,423 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
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 | -24 | -6 | 7 | -1 | 21 | -203 | -221 | -76 | 6 | -281 | -718 | |
-0 | 0 | -2 | -1 | -7 | -2 | -12 | -1 | 2 | 2 | -2 | -13 | |
4 | 22 | 16 | -5 | 1 | -9 | 205 | 252 | 94 | 22 | 270 | 681 | |
Net Cash Flow | 7 | -2 | 8 | 1 | -7 | 10 | -9 | 30 | 20 | 30 | -12 | -49 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 % | 16% | 16% | 17% | 19% | 13% | 14% | 29% | 28% | 6% | 16% | 33% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment
2d - Allotment of Equity Shares pursuant to conversion of CCD''s and OCRPS.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 16 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 16 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 13 Mar
Annual reports
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Financial Year 2023
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Financial Year 2020
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Financial Year 2019
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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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Feb 2016TranscriptPPT
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Aug 2015TranscriptPPT
Business Segments
Microfinance-
AUM 1,023 Cr in FY22 vs 643 Cr in FY21. [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 8 states, with 236 branches, ~4 lakh live customers. [3]