Northern ARC Capital Ltd
Founded in 2009, Northern Arc Capital Limited offers retail loans to underserved households and businesses in India.[1]
- Market Cap ₹ 4,104 Cr.
- Current Price ₹ 254
- High / Low ₹ 290 / 141
- Stock P/E 12.2
- Book Value ₹ 227
- Dividend Yield 0.00 %
- ROCE 10.3 %
- ROE 12.3 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.12 times its book value
- Company has delivered good profit growth of 30.8% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 13.0% 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.
Peer comparison
Financial Services Financial Services Finance Non Banking Financial Company (NBFC)
Part of BSE Allcap BSE Financial Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 562 | 601 | 643 | 868 | 1,254 | 1,830 | 2,286 | 2,498 | |
| Interest | 302 | 310 | 323 | 411 | 558 | 728 | 825 | 846 |
| 127 | 154 | 240 | 227 | 387 | 726 | 1,015 | 1,209 | |
| Financing Profit | 133 | 137 | 80 | 230 | 309 | 375 | 447 | 443 |
| Financing Margin % | 24% | 23% | 12% | 27% | 25% | 21% | 20% | 18% |
| 16 | 0 | 3 | 6 | 4 | 15 | 10 | 9 | |
| Depreciation | 3 | 7 | 7 | 9 | 10 | 15 | 15 | 17 |
| Profit before tax | 146 | 131 | 76 | 227 | 303 | 375 | 442 | 435 |
| Tax % | 39% | 31% | 27% | 28% | 26% | 25% | 22% | |
| 89 | 90 | 56 | 164 | 225 | 280 | 343 | 337 | |
| EPS in Rs | 11.40 | 10.24 | 6.37 | 18.42 | 25.31 | 31.34 | 21.23 | 20.89 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 38% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 28% |
| TTM: | -11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 28% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 13% |
| Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 78 | 87 | 88 | 89 | 89 | 89 | 161 | 162 |
| Reserves | 993 | 1,323 | 1,388 | 1,538 | 1,755 | 2,078 | 3,248 | 3,502 |
| Borrowing | 2,980 | 3,004 | 4,015 | 6,066 | 7,117 | 9,130 | 9,784 | 10,259 |
| 77 | 69 | 85 | 142 | 243 | 321 | 327 | 369 | |
| Total Liabilities | 4,129 | 4,483 | 5,576 | 7,835 | 9,205 | 11,620 | 13,521 | 14,292 |
| 4 | 23 | 21 | 19 | 43 | 48 | 68 | 71 | |
| CWIP | 3 | 1 | 1 | 0 | 1 | 2 | 6 | 0 |
| Investments | 1,049 | 1,048 | 1,253 | 1,639 | 1,697 | 1,653 | 1,957 | 2,334 |
| 3,073 | 3,411 | 4,302 | 6,177 | 7,464 | 9,917 | 11,490 | 11,886 | |
| Total Assets | 4,129 | 4,483 | 5,576 | 7,835 | 9,205 | 11,620 | 13,521 | 14,292 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -114 | -90 | -977 | -1,329 | -1,292 | -2,140 | -1,054 | |
| 35 | -1 | 356 | -377 | -174 | 49 | -398 | |
| 81 | 233 | 684 | 2,023 | 966 | 2,048 | 1,612 | |
| Net Cash Flow | 2 | 142 | 63 | 316 | -500 | -43 | 160 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| ROE % | 8% | 7% | 4% | 11% | 13% | 14% | 12% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2h - Participation in the Analyst/Institutional Investor Meet at 'Manthan - Systematix Indian Annual Conference 2026 held on February 09, 2026
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Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015
31 Jan - RBI imposed Rs.2.7 lakh penalty on Northern Arc for KYC/AML controls; order received January 30, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 Jan - Audio recording of Northern Arc Capital Q3 FY2025-26 earnings call (Jan 30, 2026) hosted on website.
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Announcement under Regulation 30 (LODR)-Investor Presentation
30 Jan - Investor presentation on unaudited financial results for third quarter ended December 31, 2025
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Statement Of Deviation For Utilization Of Issue Proceeds Raised Through Issuance Of Equity Shares By Public Issue For Quarter Ended December 31, 2025
30 Jan - No deviation in utilisation of Rs 4,498.45 million IPO proceeds as of Dec 31, 2025.
Annual reports
Concalls
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Jan 2026TranscriptAI SummaryPPT
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Oct 2025Transcript PPT REC
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Oct 2025TranscriptAI SummaryPPT
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Oct 2025TranscriptAI SummaryPPT
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Jul 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Oct 2024Transcript PPT
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Oct 2024Transcript PPT REC
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Oct 2024TranscriptPPT
Business Profile[1] Northern ARC Capital is a diversified financial services platform addressing credit needs of underserved households and businesses in India. Over the past 15 years, it has facilitated financing of over ₹1.73 lakh crore, impacting 10.18 crore lives.