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Swing Capital

Arman Financial Services Ltd

NSE: ARMANFIN BSE: 531179Banking

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]

₹1,740
52W: ₹1256 — ₹1907
PE 42 · Book ₹583 · +198% vs book
Market Cap₹1,830 Cr
Stock P/E42Price to Earnings
ROCE11.2%Return on Capital
ROE7.7%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 18.8% CAGR over last 5 years
  • +Company's median sales growth is 38.8% of last 10 years

Weaknesses

  • −Stock is trading at 2.98 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding is low: 22.0%
  • −Company has a low return on equity of 10.3% over last 3 years.
  • −Contingent liabilities of Rs.667 Cr.
  • −Promoter holding has decreased over last 3 years: -5.31%

Shareholding Pattern

Promoters22%
FIIs2.61%
DIIs4.18%
Public71.2%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters22.09%22.07%▼0.022.07%22.06%▼0.022.05%▼0.022%▼0.122%22%
FIIs5.18%4.9%▼0.31.97%▼2.91.19%▼0.81.42%▲0.21.8%▲0.41.69%▼0.12.61%▲0.9
DIIs6.16%5.03%▼1.14.51%▼0.54.91%▲0.45.08%▲0.24.83%▼0.35.03%▲0.24.18%▼0.9
Public66.56%68.01%▲1.571.44%▲3.471.82%▲0.471.45%▼0.471.37%▼0.171.29%▼0.171.2%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales0000000000
Expenses9.710.5212.9716.7620.1420.8325.6423.1226.0927.28
Operating Profit0000000000
OPM %0%0%0%0%0%0%0%0%0%0%
Net Profit8.889.3411.6112.587.939.8712.7912.458.919.4
EPS ₹10.199.5411.0812.017.569.4112.1911.878.488.94

AI Insights

Revenue Trend

TTM revenue at ₹0Cr, up 0% YoY. OPM at 0%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 4.18% (+3.37pp change). FIIs: 2.61% (-2.25pp change). Promoters hold 22%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 0% (Mar 2025). Working capital days: 0.

Valuation

PE 42x with 11.2% ROCE. Price is 198% above book value of ₹583. Dividend yield: 0%.

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