Arman Financial Services Ltd

Arman Financial Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Arman Financial Services Ltd

₹ 1,393 1.55%
11 Apr 11:17 a.m.
armanindia.com BSE: 531179 NSE: ARMANFIN
About

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]

Key Points

Product Offerings
1) Microfinance: The company’s WOS, Namra Finance Ltd, offers women small-ticket loans under the JLG model for income-generating activities like livestock, dairy, agriculture-related businesses, and Kirana stores. It operates through 392 MFI branches, serving 6.56 lakh active customers across 11 states. [1]

Website BSE NSE
  • Market Cap ₹ 1,461 Cr.
  • Current Price ₹ 1,393
  • High / Low ₹ 2,542 / 1,110
  • Stock P/E 16.2
  • Book Value ₹ 825
  • Dividend Yield 0.00 %
  • ROCE 21.9 %
  • ROE 29.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 45.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%
  • Company's median sales growth is 37.5% of last 10 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Promoter holding is low: 22.1%
  • Contingent liabilities of Rs.1,230 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -5.38%

* 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

Sector: Finance Industry: Finance & Investments

Part of BSE SmallCap BSE Allcap BSE Financial Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
Revenue 58.46 75.81 78.90 92.65 103.04 149.31 149.51 160.33 168.76 182.85 184.43 181.49 164.77
Interest 25.21 24.70 28.57 36.07 44.04 63.31 63.97 67.35 71.20 62.95 65.37 65.26 56.98
23.69 28.69 30.04 29.60 29.30 36.86 35.42 34.13 42.02 54.97 77.63 93.48 114.22
Financing Profit 9.56 22.42 20.29 26.98 29.70 49.14 50.12 58.85 55.54 64.93 41.43 22.75 -6.43
Financing Margin % 16.35% 29.57% 25.72% 29.12% 28.82% 32.91% 33.52% 36.71% 32.91% 35.51% 22.46% 12.54% -3.90%
0.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.00 0.00 0.00
Depreciation 0.20 0.34 0.27 0.26 0.31 0.31 0.32 0.36 0.36 0.38 0.42 0.44 0.46
Profit before tax 9.58 22.08 20.02 26.72 29.39 48.83 49.80 58.49 55.18 64.62 41.01 22.31 -6.89
Tax % 26.72% 26.22% 21.48% 25.41% 25.25% 25.89% 19.80% 30.21% 23.89% 21.36% 23.65% 31.60% 5.37%
7.02 16.28 15.71 19.92 21.98 36.20 39.94 40.82 42.00 50.82 31.30 15.27 -7.26
EPS in Rs 8.27 19.17 18.50 23.46 25.88 42.63 47.02 46.86 42.91 48.51 29.87 14.57 -6.93
Gross NPA % 4.10% 3.60% 2.80% 2.50% 2.48% 2.83% 2.88% 2.68% 3.74% 4.13%
Net NPA % 0.70% 0.30% 0.20% 0.10% 0.23% 0.33% 0.31% 0.22% 0.64% 0.67%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 17 24 30 41 54 78 139 214 195 235 424 661 714
Interest 6 9 11 16 24 34 59 88 79 89 172 266 251
6 9 9 12 20 34 44 72 103 99 126 166 340
Financing Profit 5 7 9 12 10 10 37 53 13 46 126 229 123
Financing Margin % 29% 28% 32% 30% 19% 13% 26% 25% 6% 20% 30% 35% 17%
0 0 0 0 0 0 0 1 0 -0 0 0 0
Depreciation 0 0 0 0 0 0 0 1 1 1 1 1 2
Profit before tax 5 7 9 12 10 10 36 54 12 46 125 228 121
Tax % 30% 32% 33% 34% 36% 26% 27% 23% 10% 30% 25% 24%
3 5 6 8 6 7 26 42 11 32 94 174 90
EPS in Rs 5.91 7.92 10.77 13.99 11.05 12.76 45.98 49.13 12.51 37.35 110.46 165.67 86.02
Dividend Payout % 14% 15% 13% 12% 11% 9% 4% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 39%
5 Years: 37%
3 Years: 50%
TTM: 14%
Compounded Profit Growth
10 Years: 44%
5 Years: 46%
3 Years: 154%
TTM: -43%
Stock Price CAGR
10 Years: 24%
5 Years: 31%
3 Years: 6%
1 Year: -34%
Return on Equity
10 Years: 24%
5 Years: 25%
3 Years: 28%
Last Year: 30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 6 7 7 7 7 7 7 8 8 8 8 10 10
Reserves 17 27 32 39 44 50 116 164 178 204 355 802 854
Borrowing 58 75 93 143 157 395 612 698 721 990 1,607 1,725 1,439
2 3 6 7 7 12 18 26 32 39 68 97 89
Total Liabilities 82 112 137 195 215 465 753 896 940 1,241 2,038 2,635 2,393
1 2 2 2 3 3 4 4 4 5 6 8 31
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 1 2 3 3 3 3 6 19 7 22
81 110 136 192 210 459 746 888 933 1,231 2,013 2,620 2,339
Total Assets 82 112 137 195 215 465 753 896 940 1,241 2,038 2,635 2,393

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-24 -6 7 -1 21 -203 -221 -76 6 -281 -718 -302
0 -2 -1 -7 -2 -12 -1 2 2 -2 -13 18
22 16 -5 1 -9 205 252 94 22 270 681 376
Net Cash Flow -2 8 1 -7 10 -9 30 20 30 -12 -49 92

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 16% 16% 17% 19% 13% 14% 29% 28% 6% 16% 33% 30%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
27.39% 27.36% 27.35% 27.31% 27.26% 26.58% 23.65% 22.09% 22.09% 22.07% 22.07% 22.06%
5.14% 5.28% 5.13% 5.04% 4.86% 3.89% 6.64% 10.20% 5.18% 4.90% 1.97% 1.19%
0.47% 0.53% 0.76% 0.76% 0.81% 0.77% 7.66% 6.29% 6.16% 5.03% 4.51% 4.91%
67.00% 66.82% 66.76% 66.89% 67.05% 68.76% 62.05% 61.41% 66.56% 68.01% 71.44% 71.82%
No. of Shareholders 10,11311,13411,05311,19612,18513,75815,68819,74521,67636,33942,62941,400

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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