Minerva Capital Research Solutions

Fusion Finance

NSE: FUSIONBSE: 543652
Compare with peers
₹ 134.60▼ 1.22 (−0.9%)28 Oct, 03:29 pm IST
Market cap
₹ 2,245 Cr.
P/E
13x
P/B
0.92x
52-week range
131.49 – 243
ROE
1%
Dividend yield
0%
Debt / equity
2.28
Sector
Finance
Industry
Microfinance Institutions
Listed on
NSE, BSE

About

Fusion Finance Limited is an India-based non-banking financial company, which operates as a micro finance institution. The Company is primarily engaged in providing financial services to underserved and unserved women in rural and semi-rural areas across India. The Company offers micro finance and micro, small, and medium-sized enterprises (MSME) services. Its MSME services include unsecured business loans, secured business loans and solar loans. It offers small loans to women entrepreneurs from low-income communities who lack easy access to traditional financial services. It offers a loan application platform called FINDOST. Its MSME segment is operational in eight states, including Uttar Pradesh, Bihar, Rajasthan, Gujarat, Haryana, Delhi, Jharkhand and Madhya Pradesh. It serves an active borrower base of approximately 32 lakh clients through 1,571 branches across 22 states and Union Territories.

Quick check

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

Compared with its industry

Microfinance Institutions: 5 companies →

Fusion Finance 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)13 against a typical 10.3: pricier than most peers (1st = cheapest).4th of 5
  • Sales growth+3.6% against a typical +8.4% from a year earlier.4th of 5
  • Share price, 3 months−34.5% against a typical −34.5%.3rd of 5
  • Size₹ 2,244.7 Cr. market value against a typical ₹ 2,405 Cr. (1st = largest).4th of 5

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 to A- by 3 agencies
A-
DefaultRiskyModerateSafeVery safe
  • All agencies agree and none has raised a warning.
AgencyCurrent ratingOutlookAs of
CRISILCrisil A-Stable13 Oct 2026
CAREProvisional CARE AA+ (SO)—6 Oct 2026
ICRA[ICRA]A- (Stable)Stable27 Nov 2025
Credit rating actions
RatingDetails
13 Oct 2026
Reaffirmed
Crisil A-—CRISIL₹ 8,050 Cr.
6 Oct 2026
New rating
Provisional CARE AA+ (SO)LowCARE₹ 191.73 Cr.
5 Oct 2026
New rating
Provisional CARE A+ (SO)LowCARE₹ 125.24 Cr.
24 Sep 2026
Reaffirmed
Crisil A-—CRISIL₹ 8,050 Cr.
8 Jul 2026
Reaffirmed
Crisil A-—CRISIL—

Board meetings

Results dates and other board meetings. Full calendar

Details
2 Nov 2026UpcomingFinancial ResultsTo consider and approve the financial results for the period ended September 30, 2026
10 Aug 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
15 May 2026Financial Results/Other business mattersTo consider and approve the financial results for the quarter and financial year ended March 31, 2026.
6 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025
29 Dec 2025Fund RaisingTo consider Fund Raising
16 Dec 2025Fund RaisingTo consider Fund Raising by issuance of non-convertible debentures on a private placement basis.
4 Nov 2025Financial Results/Fund RaisingTo consider and approve the financial results for the period ended September 30, 2025 and Fund Raising

Share price

1Y change −25.51%
Volume (shares)Price (₹)
Close price

Financials

Standalone figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue547593646688692474466442401416424458
Interest191201215223227214179149134123132150
Expenses213243286532884773458387318284258244
Financing Profit143149145−67−420−513−171−93−5293364
Financing Margin %26%25%22%−10%−61%−108%−37%−21%−13%2%8%14%
Other Income2520291812910332860
Depreciation223233322222
Profit before tax166166172−51−410−508−165−92−22143762
Tax %24%24%23%−30%−26%42%0%0%0%0%−205%0%
Net Profit126126133−36−305−719−165−92−221411462
EPS in Rs7.757.88.19−2.2−18.82−44.38−10.15−5.69−1.370.877.083.86
Gross NPA %2.7%3%2.9%5.5%9.4%12.6%7.9%5.4%4.6%4.4%3.2%2.5%
Net NPA %0.7%0.8%0.8%1.3%2.4%1.7%0.3%0.2%0.4%0.6%0.5%0.5%

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
—
5 Years
15%
3 Years
−1%
TTM
−18%
Compounded Profit Growth
10 Years
—
5 Years
−21%
3 Years
−67%
TTM
113%
Stock Price CAGR
10 Years
—
5 Years
—
3 Years
−29%
TTM
—
Return on Equity
10 Years
—
5 Years
−3%
3 Years
−10%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
53.97%
−1.05 pts in a year
FIIs
4.77%
+1.78 pts in a year
DIIs
15.25%
+2.68 pts in a year
Public
25.78%
−3.41 pts in a year
Others
0.23%
0 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 13xEPS (12 months) ₹ 10.44Median P/E 20.2x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Fusion Finance₹ 134.60₹ 2,245 Cr.13x0.9x1%—
Bajaj Finance₹ 927.00₹ 5,77,146 Cr.25x5.8x18.1%23.7%
Shriram Finance₹ 867.00₹ 2,04,004 Cr.13.9x3x16.4%20.9%
Jio Financial Services₹ 205.00₹ 1,35,364 Cr.95.5x1.2x—49.8%
Tata Capital₹ 307.05₹ 1,30,358 Cr.20.5x3.3x12.3%16%
Power Finance Corporation₹ 316.00₹ 1,04,283 Cr.5.4x1x20.7%29.1%

Management

Sanjay Garyali
Chief Executive Officer, Managing Director, Executive Director
Krishan Gopal
Chief Financial Officer
Vikrant Sadana
Co-Chief Compliance Officer, Company Secretary
Nishant Monga
Co-Chief Compliance Officer
Priyanka Seth Wadhera
Chief Strategy Officer

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