Arman Financial Services

NSE: ARMANFINBSE: 531179

₹ 1,420.00▲ 33 (+2.38%)28 Oct, 03:29 pm IST

Market cap: ₹ 1,484 Cr.
P/E: 12.6x
P/B: 1.64x
52-week range: 1,301 – 2,158.6
ROE: 6%
Dividend yield: 0%
Debt / equity: 1.91
Sector: Finance
Industry: Non Banking Financial Company (NBFC)
Listed on: NSE, BSE

About

Arman Financial Services Limited is an India-based holding company. The Company is a non-banking finance company (NBFC). It is engaged primarily in the business of Financing. The Company and its subsidiary are engaged in the business of providing Micro, Small and Medium Enterprise loans (MSME), TwoWheeler loans (TW), Loan again property (LAP) and Micro Finance Joint Liability Groups (JLG) Loans. It offers products such as Two Wheeler, which offers two wheeler financing for all models of motorcycles, mopeds, scooterettes and scooters of Hero, Honda, Bajaj, TVS, HMSI, Suzuki, Yamaha, and Royal Enfield; and MSME, it offers term loans to the underserved non-group micro-enterprise segment of the Indian market. The Company has one subsidiary, Namra Finance Limited, which is a non-deposit taking NBFC - Microfinance Institution (NBFC-MFI). Its subsidiary is engaged in providing microfinance loans (MFL) to Joint Liability Groups (JLGs), with a focus on women entrepreneurs.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Non Banking Financial Company (NBFC): 288 companies →

Arman Financial Services against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

Valuation (P/E)12.6 against a typical 22.7: cheaper than most peers (1st = cheapest).95th of 284
Sales growth+33.8% against a typical +18.3% from a year earlier.105th of 259
Share price, 3 months−25.7% against a typical −4.2%.235th of 258
Size₹ 1,483.8 Cr. market value against a typical ₹ 43 Cr. (1st = largest).30th of 269

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

Adequate safety

Rated A- by Acuite

A-

DefaultRiskyModerateSafeVery safe

No warnings from the agency.

Agency	Current rating	Outlook	As of
CARE	Withdrawn	Stable	22 Oct 2026
Acuite	ACUITE A-	Positive	30 Sep 2026
ICRA	[ICRA]A-(SO)	—	20 Aug 2025

Credit rating actions
		Rating
22 Oct 2026	Withdrawn	was CARE A-	Medium	CARE	—
30 Sep 2026	▲ Outlook raised	ACUITE A- Outlook Stable → Positive	Low	Acuite	₹ 460 Cr.
15 Apr 2026	Reaffirmed	ACUITE A-	—	Acuite	₹ 460 Cr.
18 Mar 2026	Reaffirmed	ACUITE A-	—	Acuite	₹ 470.2 Cr.
5 Feb 2026	Reaffirmed	ACUITE A-	—	Acuite	₹ 70 Cr.

Board meetings

Results dates and other board meetings. Full calendar

		Details
4 Nov 2026Upcoming	Financial Results/Other business matters	To consider and approve the financial results for the period ended September 30, 2026 and other business matters
12 Aug 2026	Financial Results/Other business matters	To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters
27 May 2026	Financial Results	To consider and approve the financial results for the period ended March 31, 2026
12 Feb 2026	Financial Results/Fund Raising	To consider and approve the financial results for the period ended December 31, 2025 and Fund Raising
19 Jan 2026	Fund Raising	To consider Fund Raising
13 Nov 2025	Financial Results	To consider and approve the financial results for the period ended September 30, 2025
13 Aug 2025	Financial Results	To consider and approve the financial results for the period ended Jun 30, 2025

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	160	169	183	184	181	165	199	151	159	160	176	202
Interest	67	71	63	65	65	57	52	52	50	51	53	64
Expenses	34	42	55	78	93	114	134	110	91	80	80	80
Financing Profit	59	56	65	41	23	−6	13	−11	18	29	42	58
Financing Margin %	37%	33%	36%	22%	13%	−4%	7%	−7%	12%	18%	24%	29%
Other Income	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
Profit before tax	58	55	65	41	22	−7	13	−11	18	29	42	57
Tax %	30%	24%	21%	24%	32%	5%	−1%	31%	55%	22%	3%	21%
Net Profit	41	42	51	31	15	−7	13	−15	8	22	41	45
EPS in Rs	46.86	42.91	48.51	29.87	14.56	−6.92	12.16	−13.9	7.6	21.1	39.01	42.96
Gross NPA %	2.5%	2.8%	2.9%	2.7%	3.7%	4.1%	3.4%	3.5%	3.7%	3.5%	3.4%	2.8%
Net NPA %	0.2%	0.3%	0.3%	0.2%	0.6%	0.7%	0.6%	0.5%	0.5%	0.8%	0.9%	0.8%

Growth and returns

Compounded yearly rates over each period.

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: 1,780%

Stock Price CAGR

10 Years: 23%
5 Years: 24%
3 Years: −7%
TTM: —

Return on Equity

10 Years: 15%
5 Years: 14%
3 Years: 12%
TTM: —

Shareholding

Latest: Jun 2026.

Promoters

22%

−0.05 pts in a year

FIIs

3.08%

+1.66 pts in a year

DIIs

4.85%

−0.23 pts in a year

Public

70.07%

−1.38 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 12.6xEPS (12 months) ₹ 110.67Median P/E 16.4x

P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison

Arman Financial Services	₹ 1,420.00	₹ 1,484 Cr.	12.6x	1.6x	6%	—
Bajaj Finance	₹ 927.00	₹ 5,77,146 Cr.	25x	5.8x	18.1%	23.7%
Shriram Finance	₹ 867.00	₹ 2,04,004 Cr.	13.9x	3x	16.4%	20.9%
Jio Financial Services	₹ 205.00	₹ 1,35,364 Cr.	95.5x	1.2x	—	49.8%
Tata Capital	₹ 307.05	₹ 1,30,358 Cr.	20.5x	3.3x	12.3%	16%
Power Finance Corporation	₹ 316.00	₹ 1,04,283 Cr.	5.4x	1x	20.7%	29.1%

Management

Aalok J. Patel: Vice Chairman of the Board, Managing Director
Vivek Arun Modi: Group Chief Financial Officer, Executive Director
Uttambhai Narayanbhai Patel: Company Secretary and Chief Compliance Officer
Jayendrabhai B. Patel: Whole-Time Director

Prices are delayed and for information only. Nothing on this page is investment advice.