AYE Finance Ltd.

•

ayefin.comBSE: 544699NSE: AYE

Market Cap₹ 4,558 Cr.

Current Price

High / Low₹ 197 / 88

Stock P/E23.5

Book Value₹ 104

Price to Book0.93

Dividend Yield0.00 %

ROCE11.4 %

ROE9.4 %

Face Value₹ 2

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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 62.9% CAGR over last 5 years
Comfortable capital adequacy - CAR of 42.2%
Solid return on assets for a lender - ROA of 2.8%
Latest quarter profit grew 83.0% YoY, showing strong momentum
Company has delivered good sales growth of 29.7% CAGR over last 5 years

CONS

Net NPA is elevated at 1.8% - provisioning cushion is thin
Equity base is being diluted - shares outstanding up 1044.9%
Free cash flow has been persistently negative
Operating margins have contracted to 42.1% from 45.2%
Though reporting repeated profits, the company pays out little dividend (0.0%)

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

Peer comparison

Financial ServicesFinanceFinance - NBFC

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

S.No.	Name
1.	BAJFINANCE	1060.50	32.52	660262.45	0.57	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1041.00	21.64	244945.59	1.04	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	TATACAP	375.00	29.46	159182.59	0.15	16281.80	1464.16	88219.30	1051.00	8.66	75.72
4.	JIOFIN	239.85	76.64	158376.35	0.25	8302.50	2457.29	20044.70	3172.82	2.11	69.71
5.	CHOLAFIN	1839.00	27.31	157062.74	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
6.	BAJAJHLDNG	11148.75	14.01	124078.35	1.75	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2920.00	10.31	117228.79	1.03	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	404.80	27.00	110815.96	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	314.00	24.73	78699.47	0.88	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	657.90	27.52	62608.60	0.38	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	682.25	26.05	56678.94	0.59	785.20	38.31	4937.90	18.71	9.09	57.98
12.	AYE	184.70	23.54	4558.13	0.00	74.50	83.05	477.37	16.68	11.45	46.43

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	361	409	405	443	528	477
	219	240	374	253	292	393
Operating Profit	142	169	32	189	237	85
OPM %	39.42%	41.37%	7.82%	42.76%	44.77%	17.78%
	9	11	9	12	17	12
Interest	115	123	126	141	135	131
Depreciation	6	6	5	7	8	6
Profit before Tax	30	50	41	54	111	97
Tax %	25.22%	19.33%	25.19%	20.88%	22.52%	23.31%
Net Profit	23	41	31	43	86	74
	1.19	2.12	1.60	2.22	3.89	3.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	24	80	210	412	495	432	623	1,040	1,460	1,815	1,854
	22	49	110	224	230	341	361	501	786	1,051	1,312
Operating Profit	2	31	100	188	265	91	262	540	673	764	542
OPM %	9.70%	38.36%	47.74%	45.65%	53.48%	20.96%	42.04%	51.88%	46.14%	42.09%	29.26%
	2	2	8	1	4	12	20	32	45	49	50
Interest	11	30	73	141	236	160	199	329	472	539	532
Depreciation	0	1	2	8	9	10	11	15	22	26	26
Profit before Tax	-7	2	32	40	23	-67	71	228	225	247	303
Tax %	-0.00%	0.00%	22.38%	18.87%	27.45%	23.83%	38.58%	24.65%	23.88%	21.70%	22.84%
Net Profit	-7	2	25	32	17	-51	44	172	171	194	234
EPS	0.00	0.00	0.00	11.59	5.51	-3.31	2.79	401.96	9.06	7.92	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 80%
5 Years:: 30%
3 Years:: 43%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 63%
3 Years:: 64%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 8%
3 Years:: 13%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	4	4	4	4	4	4	4	38	49
	71	73	468	485	709	663	710	1,174	1,589	2,447
	35	332	592	1,401	1,337	1,544	2,320	3,523	4,545	5,053
Trade Payables	2	4	10	16	0	0	0	0	0	0
	51	101	198	99	45	56	65	128	105	171
Total Liabilities	163	515	1,272	2,006	2,095	2,268	3,100	4,829	6,277	7,720
	1	2	4	18	27	27	27	32	41	62
Capital Work in Progress	1	1	0	1	0	0	0	0	0	0
	11	41	68	0	198	155	84	11	42	158
Cash & Bank	14	25	156	228	347	377	394	730	1,108	965
	137	446	1,044	1,759	1,523	1,709	2,594	4,057	5,087	6,535
Total Assets	163	515	1,272	2,006	2,095	2,268	3,100	4,829	6,277	7,720

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-110	-262	-463	-491	133	-269	-712	-1,323	-812	-1,355
Cash from Investing	-5	-41	-26	42	-190	46	78	83	-39	-125
Cash from Financing	106	304	627	510	72	200	762	1,494	1,255	1,169
	-9	0	129	32	7	-27	120	254	405	-311

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-16.84	5.39	58.74	75.90	39.56	-120.23	102.68	401.96	9.06	7.92
Book Value (₹)	175.90	181.02	1104.85	1146.89	1669.95	1563.39	1673.06	2759.18	86.12	102.07
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	-3.14	1.48	12.84	18.87	12.26	-19.38	25.90	87.20	10.24	9.00
PROFITABILITY
Operating Margin %	16.54%	41.47%	51.53%	45.95%	54.31%	23.64%	45.23%	51.88%	46.14%	42.09%
Net Margin %	-29.37%	2.89%	11.97%	7.87%	3.41%	-11.89%	7.03%	16.50%	11.73%	10.67%
ROE %	-15.75%	3.02%	9.14%	6.74%	2.81%	-7.44%	6.34%	18.14%	12.21%	9.39%
ROCE %	3.25%	9.99%	12.50%	11.66%	13.09%	4.30%	10.25%	14.29%	12.76%	11.45%
	-6.34%	0.68%	2.81%	1.98%	0.82%	-2.35%	1.63%	4.33%	3.08%	2.77%
EFFICIENCY
Debtor Days	0	0	0	0	0	0	0	0	0	0
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	0
FINANCIAL HEALTH
Debt to Equity (x)	0.81x	4.49x	1.43x	2.71x	1.78x	2.19x	3.10x	2.88x	2.78x	2.01x
Interest Coverage (x)	0.33x	1.08x	1.44x	1.28x	1.10x	0.58x	1.36x	1.69x	1.48x	1.46x
	2.68x	2.90x	3.86x	15.89x	101.62x	38.45x	42.89x	53.68x	0.51x	0.48x
GROWTH
Revenue Growth %	385.91%	225.76%	162.85%	96.43%	20.29%	-12.79%	44.34%	66.86%	40.33%	24.32%
Operating Profit Growth %	476.01%	716.78%	226.66%	75.12%	42.20%	-62.04%	176.15%	102.58%	25.82%	13.02%
Net Profit Growth %	-76.07%	132.01%	989.93%	29.20%	-47.89%	-404.03%	185.40%	291.49%	-0.24%	13.06%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	291.49%	-97.75%	-12.63%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.05x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.93x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.92x	4.81x	7.86x

Shareholding Pattern

Numbers in percentages

	Sep 2018	Sep 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Feb 2026	Mar 2026	Jun 2026
	0.00	0.00	68.28	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	19.04	18.66	15.70
	0.00	0.00	0.00	0.00	0.00	0.00	18.17	18.39	19.75
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	100.00	100.00	31.72	100.00	100.00	100.00	62.79	62.95	64.55

Documents

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

2026-09-03

Shareholders meeting

2026-09-03 - Aye Finance Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 01, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Aye Finance Limited has informed the Exchange about Schedule of meet

2026-09-01

Shareholders meeting

2026-09-01 - Aye Finance Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 01, 2026

2026-08-28

Updates

2026-08-28 - Aye Finance Limited has informed the Exchange regarding 'transfer of equity shares from Trust to eligible grantees upon exercise of options granted.'.

2026-08-26

Updates

2026-08-26 - Aye Finance Limited has informed the Exchange regarding 'Intimation under Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements Regulations), 2015'.

2026-08-26

Appointment

2026-08-26 - Aye Finance Limited has informed the Exchange regarding Appointment of Mr. Anuj Jain as Company Secretary & Compliance Officer of the company w.e.f. August 26, 2026.

2026-08-18

General Updates

2026-08-18 - Pursuant to Regulations 36(1)(b) and 58(1)(b) of SEBI Listing Regulations, the Company has completed the dispatch of letters providing web link and QR Code for accessing the Annual Report for FY 2025-26 to the Shareholders and other person so entitled whose e-mail Ids are not registered

2026-08-11

Copy of Newspaper Publication

2026-08-11 - Aye Finance Limited has informed the Exchange about Copy of Newspaper Publication consequent to completion of dispatch of notice of AGM

2026-08-10

Press Release

2026-08-10 - Aye Finance Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Aye Finance Strengthens Leadership Team ".

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