Northern ARC Capital Ltd
Founded in 2009, Northern Arc Capital Limited offers retail loans to underserved households and businesses in India.[1]
- Market Cap ₹ 3,555 Cr.
- Current Price ₹ 220
- High / Low ₹ 290 / 141
- Stock P/E 11.4
- Book Value ₹ 227
- Dividend Yield 0.00 %
- ROCE 9.87 %
- ROE 10.8 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.97 times its book value
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 12.7% 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 370 | 602 | 682 | 911 | 1,306 | 1,891 | 2,344 | 2,557 | |
| Interest | 176 | 303 | 324 | 411 | 559 | 730 | 832 | 856 |
| 96 | 135 | 255 | 247 | 419 | 739 | 1,120 | 1,298 | |
| Financing Profit | 98 | 164 | 103 | 252 | 329 | 422 | 392 | 403 |
| Financing Margin % | 26% | 27% | 15% | 28% | 25% | 22% | 17% | 16% |
| -0 | 16 | 3 | 6 | 5 | 15 | 11 | 12 | |
| Depreciation | 1 | 5 | 7 | 10 | 12 | 17 | 18 | 19 |
| Profit before tax | 97 | 175 | 100 | 248 | 321 | 420 | 386 | 395 |
| Tax % | 34% | 34% | 23% | 27% | 25% | 24% | 22% | |
| 64 | 115 | 77 | 182 | 242 | 318 | 301 | 309 | |
| EPS in Rs | 8.14 | 12.65 | 7.68 | 19.40 | 25.83 | 34.49 | 18.87 | 19.28 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 37% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| TTM: | -12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 13% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 78 | 78 | 88 | 89 | 89 | 89 | 161 | 162 |
| Reserves | 397 | 1,014 | 1,412 | 1,568 | 1,784 | 2,142 | 3,273 | 3,501 |
| Borrowing | 2,363 | 3,001 | 4,015 | 6,066 | 7,117 | 9,130 | 9,860 | 10,331 |
| 106 | 186 | 182 | 251 | 381 | 345 | 344 | 368 | |
| Total Liabilities | 2,945 | 4,279 | 5,696 | 7,973 | 9,371 | 11,707 | 13,638 | 14,362 |
| 5 | 5 | 22 | 24 | 51 | 57 | 76 | 81 | |
| CWIP | 0 | 3 | 1 | 0 | 1 | 2 | 6 | -0 |
| Investments | 1,150 | 1,193 | 1,383 | 1,766 | 1,790 | 1,785 | 2,052 | 2,409 |
| 1,789 | 3,077 | 4,291 | 6,183 | 7,529 | 9,863 | 11,504 | 11,872 | |
| Total Assets | 2,945 | 4,279 | 5,696 | 7,973 | 9,371 | 11,707 | 13,638 | 14,362 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -336 | -711 | -1,326 | -1,296 | -2,134 | -1,047 | ||
| -36 | -201 | -386 | -115 | 36 | -388 | ||
| 375 | 977 | 2,028 | 928 | 2,045 | 1,586 | ||
| Net Cash Flow | 4 | 65 | 317 | -483 | -53 | 151 | |
| Free Cash Flow | -343 | -715 | -1,338 | -1,285 | -2,148 | -1,065 | |
| CFO/OP | -59% | -158% | -191% | -136% | -177% | -77% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| ROE % | 13% | 9% | 4% | 11% | 13% | 15% | 11% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets Under Management (AUM) - Total INR Crores |
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| AUM - Direct-to-Customer (D2C) INR Crores |
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| AUM - Fund Management (AIF) INR Crores |
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| Number of Branches Absolute ・Standalone data |
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| Number of D2C Customers Lakhs |
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| Number of Originator Partners (Cumulative) Absolute |
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| Gross Transaction Volume INR Crores |
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Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14h - Regulation 74(5) certificate filed for quarter ended March 31, 2026.
-
Announcement under Regulation 30 (LODR)-Retirement
2d - Ms. Kshama Fernandes ceased as Non-Executive Non-Independent Director effective close of business March 31, 2026.
- Closure of Trading Window 25 Mar
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
17 Feb - Northern Arc participating in Omkara Capital investors' group meeting on Feb 21, 2026, 5-9pm (physical); no UPSI to be shared.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
6 Feb - Transcript of Earnings call held on January 30, 2026
Annual reports
Concalls
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Jan 2026Transcript PPT
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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.