Arman Financial Services Ltd

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

₹ 1,747 0.50%
01 Oct 11:22 a.m.
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 ₹ 1,842 Cr.
  • Current Price ₹ 1,747
  • High / Low ₹ 2,159 / 1,301
  • Stock P/E 15.8
  • Book Value ₹ 888
  • Dividend Yield 0.00 %
  • ROCE 11.8 %
  • ROE 6.26 %
  • Face Value ₹ 10.0
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Pros

  • Company's median sales growth is 38.6% 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: 22.0%
  • Company has a low return on equity of 12.1% over last 3 years.
  • Promoter holding has decreased over last 3 years: -4.58%

* 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 Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
150 160 169 183 184 181 165 199 151 159 160 176 202
Interest 64 67 71 63 65 65 57 52 52 50 51 53 64
35 34 42 55 78 93 114 134 110 91 80 80 80
Financing Profit 50 59 56 65 41 23 -6 13 -11 18 29 42 58
Financing Margin % 34% 37% 33% 36% 22% 13% -4% 7% -7% 12% 18% 24% 29%
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 50 58 55 65 41 22 -7 13 -11 18 29 42 57
Tax % 20% 30% 24% 21% 24% 32% 5% -1% 31% 55% 22% 3% 21%
40 41 42 51 31 15 -7 13 -15 8 22 41 45
EPS in Rs 47.02 46.86 42.91 48.51 29.87 14.56 -6.92 12.16 -13.90 7.60 21.10 39.01 42.96
Gross NPA % 2.50% 2.48% 2.83% 2.88% 2.68% 3.74% 4.13% 3.37% 3.45% 3.70% 3.46% 3.43% 2.76%
Net NPA % 0.10% 0.23% 0.33% 0.31% 0.22% 0.64% 0.67% 0.55% 0.51% 0.50% 0.79% 0.93% 0.84%
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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 TTM
30 41 54 78 139 214 195 235 424 661 730 646 697
Interest 11 16 24 34 59 88 79 89 172 266 240 206 217
9 12 20 34 44 72 103 99 126 166 419 361 332
Financing Profit 9 12 10 10 37 53 13 46 126 229 71 79 147
Financing Margin % 32% 30% 19% 13% 26% 25% 6% 20% 30% 35% 10% 12% 21%
0 0 0 0 0 1 0 -0 0 0 0 0 0
Depreciation 0 0 0 0 0 1 1 1 1 1 2 2 2
Profit before tax 9 12 10 10 36 54 12 46 125 228 69 77 146
Tax % 33% 34% 36% 26% 27% 23% 10% 30% 25% 24% 25% 27%
6 8 6 7 26 42 11 32 94 174 52 57 116
EPS in Rs 10.77 13.99 11.05 12.76 45.98 49.13 12.51 37.35 110.46 165.67 49.64 53.85 110.67
Dividend Payout % 13% 12% 11% 9% 4% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 32%
5 Years: 27%
3 Years: 15%
TTM: 0%
Compounded Profit Growth
10 Years: 22%
5 Years: 40%
3 Years: -16%
TTM: 1780%
Stock Price CAGR
10 Years: 21%
5 Years: 15%
3 Years: -7%
1 Year: 15%
Return on Equity
10 Years: 15%
5 Years: 14%
3 Years: 12%
Last Year: 6%

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 7 7 7 7 7 8 8 8 8 10 10 11
Reserves 32 39 44 50 116 164 178 204 355 802 864 923
Borrowing 93 143 157 395 612 698 721 990 1,607 1,725 1,232 1,776
6 7 7 12 18 26 32 39 68 97 121 89
Total Liabilities 137 195 215 465 753 896 940 1,241 2,038 2,635 2,227 2,798
2 2 3 3 4 4 4 5 6 8 31 32
CWIP 0 0 0 0 0 0 0 0 0 0 0 3
Investments 0 1 2 3 3 3 3 6 19 7 39 92
136 192 210 459 746 888 933 1,231 2,013 2,620 2,157 2,671
Total Assets 137 195 215 465 753 896 940 1,241 2,038 2,635 2,227 2,798

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
7 -1 21 -203 -221 -76 6 -281 -718 -302 493 -476
-1 -7 -2 -12 -1 2 2 -2 -13 18 -49 -50
-5 1 -9 205 252 94 22 270 681 376 -495 546
Net Cash Flow 1 -7 10 -9 30 20 30 -12 -49 92 -51 20
Free Cash Flow 6 -2 21 -203 -222 -77 5 -282 -720 -305 467 -480
CFO/OP 49% 12% 74% -447% -223% -41% 13% -194% -232% -49% 168% -159%

Ratios

Consolidated / 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 % 17% 19% 13% 14% 29% 28% 6% 16% 33% 30% 6% 6%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Consolidated AUM
INR Crore

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Consolidated Disbursements
INR Crore
Active Customers
lakhs
Number of Branches
count
Number of Districts
count
MFI Average Ticket Size
INR ・Standalone data
MFI Collection Efficiency
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
26.58% 23.65% 22.09% 22.09% 22.07% 22.07% 22.06% 22.05% 22.00% 22.00% 22.00% 22.00%
3.89% 6.64% 10.20% 5.18% 4.90% 1.97% 1.19% 1.42% 1.80% 1.69% 2.61% 3.08%
0.77% 7.66% 6.29% 6.16% 5.03% 4.51% 4.91% 5.08% 4.83% 5.03% 4.18% 4.85%
68.76% 62.05% 61.41% 66.56% 68.01% 71.44% 71.82% 71.45% 71.37% 71.29% 71.20% 70.07%
No. of Shareholders 13,75815,68819,74521,67636,33942,62941,40037,60836,53134,93033,75232,079

* 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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