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 ₹ 747 Cr.
- Current Price ₹ 610
- High / Low ₹ 1,100 / 480
- Stock P/E 98.8
- Book Value ₹ 46.6
- Dividend Yield 0.00 %
- ROCE 17.2 %
- ROE 12.9 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 64.1% CAGR over last 5 years
- Company's working capital requirements have reduced from 66.0 days to 24.2 days
Cons
- Stock is trading at 13.1 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 13.8% over last 3 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.77 | 2.64 | 5.06 | 10.91 | 8.65 | 4.78 | 2.80 | 5.12 | 6.63 | 15.94 | 21.16 | 15.81 | 19.07 | |
| Interest | 0.02 | 0.01 | 0.13 | 0.03 | 0.05 | 0.05 | 0.03 | 0.04 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 |
| 1.32 | 1.87 | 3.42 | 7.53 | 6.27 | 3.46 | 2.01 | 3.23 | 3.99 | 10.80 | 12.89 | 8.20 | 10.68 | |
| Financing Profit | 0.43 | 0.76 | 1.51 | 3.35 | 2.33 | 1.27 | 0.76 | 1.85 | 2.62 | 5.14 | 8.27 | 7.61 | 8.39 |
| Financing Margin % | 24.29% | 28.79% | 29.84% | 30.71% | 26.94% | 26.57% | 27.14% | 36.13% | 39.52% | 32.25% | 39.08% | 48.13% | 44.00% |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 1.70 | 1.80 | |
| Depreciation | 0.02 | 0.07 | 0.11 | 0.12 | 0.11 | 0.07 | 0.08 | 0.08 | 0.08 | 0.07 | 0.05 | 0.07 | 0.08 |
| Profit before tax | 0.41 | 0.69 | 1.40 | 3.23 | 2.22 | 1.20 | 0.70 | 1.78 | 2.54 | 5.07 | 8.22 | 9.24 | 10.11 |
| Tax % | 21.95% | 21.74% | 28.57% | 25.70% | 25.68% | 30.00% | 17.14% | 24.72% | 25.20% | 25.05% | 25.67% | 25.32% | |
| 0.32 | 0.55 | 1.00 | 2.41 | 1.65 | 0.84 | 0.58 | 1.34 | 1.90 | 3.80 | 6.12 | 6.90 | 7.56 | |
| EPS in Rs | 0.29 | 0.50 | 0.86 | 2.06 | 1.41 | 0.72 | 0.50 | 1.15 | 1.63 | 3.25 | 5.00 | 5.63 | 6.18 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 41% |
| 3 Years: | 34% |
| TTM: | -7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 64% |
| 3 Years: | 54% |
| TTM: | 14% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 39% |
| 5 Years: | 66% |
| 3 Years: | 60% |
| 1 Year: | -44% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 12% |
| 3 Years: | 14% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 10.98 | 10.98 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 12.25 | 12.25 |
| Reserves | 3.62 | 4.16 | 6.04 | 8.45 | 10.11 | 10.94 | 11.52 | 12.86 | 14.76 | 18.56 | 37.95 | 44.85 |
| Borrowing | 0.08 | 0.39 | 0.32 | 0.21 | 0.25 | 0.24 | 0.18 | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 |
| 0.95 | 0.94 | 0.69 | 4.65 | 2.75 | 0.65 | 0.93 | 0.84 | 1.87 | 1.17 | 1.86 | 2.03 | |
| Total Liabilities | 15.63 | 16.47 | 18.73 | 24.99 | 24.79 | 23.51 | 24.31 | 25.45 | 28.31 | 31.41 | 52.06 | 59.13 |
| 1.04 | 1.47 | 1.34 | 1.25 | 1.25 | 1.19 | 1.12 | 1.06 | 0.99 | 0.95 | 1.11 | 1.08 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 9.37 | 9.37 | 13.47 | 13.76 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 13.47 | 23.97 | 30.97 |
| 5.22 | 5.63 | 3.92 | 9.98 | 10.07 | 8.85 | 9.72 | 10.92 | 13.85 | 16.99 | 26.98 | 27.08 | |
| Total Assets | 15.63 | 16.47 | 18.73 | 24.99 | 24.79 | 23.51 | 24.31 | 25.45 | 28.31 | 31.41 | 52.06 | 59.13 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.35 | 0.69 | 1.38 | 5.87 | -0.66 | -1.23 | 0.93 | 1.19 | 2.44 | 0.36 | 7.61 | 5.55 | |
| -0.71 | -0.31 | -2.85 | -5.75 | 0.63 | 0.35 | 0.34 | 0.30 | 0.47 | 0.81 | -9.53 | -5.34 | |
| -0.04 | 0.28 | 1.39 | -0.10 | 0.01 | -0.04 | -0.09 | -0.15 | -0.08 | 0.00 | 13.84 | 0.00 | |
| Net Cash Flow | -0.40 | 0.66 | -0.08 | 0.02 | -0.02 | -0.93 | 1.17 | 1.34 | 2.84 | 1.17 | 11.92 | 0.21 |
| Free Cash Flow | 0.35 | 0.20 | 1.34 | 5.84 | -0.77 | -1.25 | 0.92 | 1.17 | 2.43 | 0.34 | 7.40 | 5.51 |
| CFO/OP | 78% | 90% | 116% | 199% | -1% | -70% | 142% | 87% | 114% | 37% | 114% | 95% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 % | 2.22% | 3.70% | 6.09% | 12.73% | 7.87% | 3.78% | 2.53% | 5.61% | 7.45% | 13.41% | 15.22% | 12.86% |
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 |
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| Number of permanent employees count |
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| Aggregate funds raised by clients (last 5 years) Rs Crore |
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| Consecutive years as BSE SME Top Performing Merchant Banker years |
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| Cumulative IPOs handled as Lead Merchant Banker count |
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| Current IPO mandate (order book) Rs Crore |
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| Market capitalization of listed clients Rs Crore |
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| Sector-wise client diversification % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Clipping - Notice of the 32nd Annual General Meeting
- Intimation Of Book Closure For The 32Nd Annual General Meeting.
- Reg. 34 (1) Annual Report.
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Notice Of 32Nd Annual General Meeting (AGM) To Be Held On Friday, September 11, 2026
- 32nd AGM on 11 Sep 2026; approves FY26 financials, director reappointment, and related-party transactions up to ₹50 crore each.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Clippings - Unaudited Financial Results
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
from bse
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
from bse
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]