Arihant Capital Markets Ltd.

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arihantcapital.comBSE: 511605NSE: ARIHANTCAP

Market Cap₹ 874 Cr.

Current Price

High / Low₹ 120 / 57

Stock P/E22.2

Book Value₹ 39

Price to Book2.09

Dividend Yield0.63 %

ROCE22.5 %

ROE16.7 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 24.4% CAGR over last 5 years
Solid return on assets for a lender - ROA of 7.1%
Company has a healthy return on capital (ROCE) of 23.0%
Asset quality is healthy - gross NPA of just 0.0%
Latest quarter profit grew 55.4% YoY, showing strong momentum
Company has delivered good sales growth of 24.9% CAGR over last 5 years

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Promoter holding has decreased over last 2 years: -2.1pp
Operating margins have contracted to 37.5% from 44.0%
Recurring exceptional / one-off items are inflating headline profit
Thin net interest margin of 0.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Stock Broking

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MCX	3275.00	54.16	83509.83	0.24	4134.40	1934.75	7020.00	1780.98	48.10	70.40
2.	MOTILALOFS	1035.00	31.48	62340.45	0.58	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1137.00	36.72	46340.08	1.06	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1815.65	30.89	33447.59	1.53	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	298.00	26.39	27238.29	1.36	231.40	102.15	1429.69	25.35	14.87	33.92
6.	CHOICEIN	760.75	71.30	16947.72	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	340.50	18.82	10731.84	0.88	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	170.60	10.27	3733.16	0.94	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	514.10	24.98	3242.24	0.97	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	378.40	16.57	3001.03	0.26	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	82.64	31.80	2306.67	1.82	19.83	-30.83	160.40	7.46	9.35	20.55
12.	ARIHANTCAP	79.77	21.72	874.38	0.63	21.49	69.18	77.91	53.46	21.99	46.62

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	41	54	71	62	71	74	51	45	50	55	48	51	75
	25	34	42	27	43	45	35	31	30	33	35	40	50
Operating Profit	16	21	29	36	29	29	23	15	20	23	13	10	33
OPM %	39.67%	38.22%	40.37%	57.35%	40.37%	39.39%	45.56%	32.54%	39.97%	41.27%	27.12%	20.52%	43.74%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	2	2	4	4	5	6	4	4	4	6	6	5	7
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
	14	18	24	31	23	23	15	10	16	16	6	5	25
Tax %	24.91%	23.10%	24.73%	24.44%	26.16%	22.61%	27.12%	24.38%	21.97%	22.74%	27.23%	37.32%	24.42%
Net Profit	11	14	18	24	17	18	11	8	12	13	5	3	19
	1	1	2	2	2	2	1	1	1	1	0	0	0

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	253	570	515	80	79	109	152	132	229	241	229
	242	545	481	48	47	61	86	85	126	151	158
Operating Profit	11	25	34	32	32	49	67	48	103	91	71
OPM %	4.23%	4.33%	6.60%	40.00%	40.85%	44.63%	43.85%	35.91%	44.79%	37.55%	31.05%
	2	2	3	0	0	0	9	1	1	4	1
Interest	3	3	7	9	8	4	7	11	14	21	24
Depreciation	1	1	1	1	1	1	1	2	2	3	4
Profit before Tax	9	22	29	22	23	44	67	36	87	71	53
Tax %	33.73%	33.65%	30.16%	29.57%	23.74%	21.28%	19.90%	26.29%	24.32%	24.95%	25.43%
Net Profit	6	15	20	16	18	35	54	26	66	53	39
EPS	0.00	0.00	0.00	0.00	0.00	16.69	25.97	2.52	6.32	5.09	—
Dividend Payout %	26.00%	10.47%	7.80%	10.06%	11.72%	5.99%	5.78%	15.88%	7.91%	9.82%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 25%
3 Years:: 17%

COMPOUNDED PROFIT GROWTH

10 Years:: 22%
5 Years:: 24%
3 Years:: -1%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 23%
3 Years:: 9%
1 Year:: -23%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 22%
3 Years:: 18%
Last Year:: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	10	10	10	10	10	10	10	10
	51	65	84	98	114	147	197	222	283	331
	0	8	91	98	35	48	78	51	92	82
Trade Payables	21	40	41	42	112	157	236	183	311	269
	12	15	20	35	31	70	31	23	54	45
Total Liabilities	93	140	247	283	303	432	553	488	751	737
	8	8	10	10	9	9	10	14	15	28
	12	29	16	19	21	23	29	23	16	20
	14	2	13	9	10	10	17	5	29	48
	0	0	0	0	0	0	0	0	96	97
Cash & Bank	25	21	75	86	156	213	238	199	395	393
	33	80	132	158	106	178	258	249	200	151
Total Assets	93	140	247	283	303	432	553	488	751	737

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-4	12	-29	14	123	-22	-11	28	-36	27
Cash from Investing	12	-17	11	-4	-2	-4	9	0	9	-12
Cash from Financing	-4	8	81	-4	-72	9	22	-36	30	-21
	1	-4	54	0	43	-26	10	-20	3	-6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	2.88	7.16	9.62	7.46	8.53	16.69	25.97	2.52	6.32	5.09
Book Value (₹)	29.27	36.43	45.21	52.11	59.81	75.47	99.70	22.31	28.19	32.77
Dividend per Share (₹)	0.75	0.75	0.75	0.75	1.00	1.00	1.50	0.40	0.50	0.50
Cash EPS (₹)	0.67	1.50	2.01	1.60	1.82	3.45	5.30	2.70	6.55	5.38
PROFITABILITY
Operating Margin %	4.95%	4.60%	7.19%	40.30%	41.00%	45.06%	44.01%	36.12%	44.79%	37.55%
Net Margin %	2.38%	2.62%	3.89%	19.33%	22.34%	31.77%	35.47%	19.83%	28.76%	21.95%
ROE %	10.20%	21.80%	23.57%	15.33%	15.24%	24.68%	29.65%	11.93%	25.04%	16.70%
ROCE %	19.67%	35.03%	26.74%	15.94%	17.20%	26.40%	30.37%	16.27%	30.18%	22.48%
	6.63%	12.79%	10.37%	5.87%	6.07%	9.46%	10.98%	5.04%	10.62%	7.12%
EFFICIENCY
Debtor Days	32	28	63	554	441	349	408	509	214	146
Inventory Days	12	5	5	51	44	33	32	30	27	58
Payable Days	34	22	35	0	0	0	0	0	0	0
	11	11	33	604	485	381	440	538	241	204
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.11x	0.97x	0.90x	0.28x	0.31x	0.38x	0.22x	0.32x	0.24x
Interest Coverage (x)	4.60x	8.56x	4.88x	3.40x	3.86x	12.14x	10.62x	4.34x	7.24x	4.32x
	2.21x	1.85x	1.46x	1.46x	1.53x	1.44x	1.49x	1.77x	1.26x	1.55x
GROWTH
Revenue Growth %	196.97%	125.49%	-9.64%	-84.40%	-1.03%	37.59%	39.37%	-13.22%	73.07%	5.43%
Operating Profit Growth %	-10.90%	109.56%	41.24%	-12.52%	0.68%	51.19%	36.14%	-28.78%	115.49%	-11.31%
Net Profit Growth %	-15.03%	148.24%	34.35%	-22.48%	14.37%	95.68%	55.58%	-51.49%	151.00%	-19.52%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	151.00%	-19.52%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.65x	13.43x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.94x	2.09x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.91%	0.73%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.59x	4.38x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.81	69.81	69.81	69.81	69.81	69.81	67.67	67.67	67.67
	0.17	0.68	0.51	0.09	0.03	0.22	0.04	0.05	0.03
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	30.02	29.51	29.68	30.10	30.16	29.97	32.28	32.25	32.26

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Arihant Capital Markets Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Updates

2026-09-02 - Arihant Capital Markets Limited has informed the Exchange regarding 'Information under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 and Section 108 of the Companies Act, 2013 regarding Voting through Electronic mode for the 34th Annual General Meeting scheduled to be held on Saturday, 26th September 2026.'.

2026-09-01

Shareholders meeting

2026-09-01 - Arihant Capital Markets Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026

2026-09-01

Record Date

2026-09-01 - Arihant Capital Markets Limited has informed the Exchange that Record date for the purpose of Dividend is 19-Sep-2026.

2026-08-20

Outcome of Board Meeting

2026-08-20 - Arihant Capital Markets Limited has informed the Exchange regarding Outcome of Board Meeting held on August 20, 2026.

2026-08-20

Outcome of Board Meeting

2026-08-20 - Arihant Capital Markets Limited has informed the Exchange regarding Outcome of Board Meeting held on August 20, 2026.

2026-08-12

Trading Window

2026-08-12 - Arihant Capital Markets Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-07-27

Copy of Newspaper Publication

2026-07-27 - Arihant Capital Markets Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-24

Outcome of Board Meeting

2026-07-24 - Arihant Capital Markets Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

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