Capital India Finance Ltd.

•

capitalindia.comBSE: 530879NSE: CIFL

Market Cap₹ 790 Cr.

Current Price

High / Low₹ 40 / 20

Stock P/E17.9

Book Value₹ 17

Price to Book1.23

Dividend Yield0.00 %

ROCE8.9 %

ROE6.3 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Lending Business: 89.1% • Forex Services: 10.9%

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

Comfortable capital adequacy - CAR of 41.0%
Solid return on assets for a lender - ROA of 2.6%
Company has delivered good sales growth of 19.4% CAGR over last 5 years
Company generates healthy free cash flow
Attractively priced for its growth - PEG of 0.5

CONS

Company has a low return on equity of 3.9% over last 3 years
Company has a low return on capital employed of 8.0%
Operating margins have contracted to 16.2% from 57.8%
Effective tax rate is unusually low at 11.1% - earnings may be flattered
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	1045.10	32.05	650674.48	0.57	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1049.00	21.81	246827.97	1.03	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	CHOLAFIN	1858.00	27.59	158685.46	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
4.	TATACAP	371.70	29.20	157781.78	0.15	16281.80	1464.16	88219.30	1051.00	8.66	75.72
5.	JIOFIN	237.70	75.95	156956.68	0.25	830.25	155.73	2004.47	227.28	2.11	69.71
6.	BAJAJHLDNG	11150.00	14.01	124092.26	1.75	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2935.00	10.36	117831.00	1.02	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	399.10	26.62	109254.11	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	315.00	24.81	78950.11	0.87	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	657.00	27.48	62522.95	0.38	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	692.90	26.45	57563.70	0.58	785.20	38.31	4937.90	18.71	9.09	57.98
12.	CIFL	20.19	20.52	789.54	0.00	-9.63	-70.77	127.74	22.22	7.77	18.70

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
	39	46	45	42	43	43	50	45	42	37	59	61	69
	21	28	27	20	24	25	28	26	24	73	40	39	65
Operating Profit	29	28	23	25	22	23	25	22	22	163	22	25	32
OPM %	74.72%	60.95%	51.33%	60.68%	51.92%	52.36%	49.28%	48.78%	51.10%	436.83%	36.99%	41.29%	46.94%
Other Income	0	1	1	1	0	0	0	0	0	0	1	1	1
Interest	19	19	18	17	17	16	19	19	20	19	22	21	25
Depreciation	2	2	2	2	2	2	2	2	2	2	2	2	3
	8	8	4	7	3	4	4	1	0	44	-1	2	5
Tax %	24.81%	29.58%	25.55%	26.59%	-33.73%	26.54%	24.09%	11.72%	8.33%	14.45%	65.00%	-22.73%	23.99%
Net Profit	6	6	3	5	5	3	3	1	0	38	-0	3	4
	1	1	0	0	0	0	0	0	0	1	-0	0	0

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
	9	26	56	105	93	122	162	192	205	227	227
	0	10	24	43	37	57	71	87	113	190	217
Operating Profit	8	15	32	62	57	65	91	106	92	37	10
OPM %	95.90%	60.05%	56.67%	58.81%	60.50%	53.31%	56.19%	54.94%	45.00%	16.20%	4.21%
	0	0	1	0	1	1	3	3	1	101	101
Interest	8	10	9	13	19	39	63	72	71	83	88
Depreciation	0	0	7	8	9	12	10	9	9	9	10
Profit before Tax	0	5	16	41	29	15	20	27	13	45	50
Tax %	47.20%	36.53%	29.61%	26.33%	30.09%	22.00%	24.50%	26.75%	8.55%	11.12%	12.39%
Net Profit	0	3	11	30	20	12	15	20	12	40	44
EPS	0.00	0.00	0.00	0.00	2.60	1.49	1.92	2.59	0.30	1.03	—
Dividend Payout %	0.00%	11.88%	27.76%	2.56%	3.80%	6.67%	5.16%	3.87%	6.61%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 41%
5 Years:: 19%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: 86%
5 Years:: 15%
3 Years:: 39%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -40%

RETURN ON EQUITY

10 Years:: 9%
5 Years:: 3%
3 Years:: 4%
Last Year:: 6%

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
Equity Capital	4	4	78	78	78	78	78	78	78	78
	0	3	434	461	481	492	507	526	538	581
	138	19	137	116	227	615	653	601	711	990
Trade Payables	0	0	1	1	1	6	8	10	10	15
	2	137	26	31	20	25	25	22	23	37
Total Liabilities	144	163	676	686	807	1,216	1,271	1,237	1,360	1,701
	0	8	25	20	27	31	23	20	22	29
Capital Work in Progress	0	2	1	0	2	0	0	0	0	0
	0	15	45	112	152	166	211	176	230	231
	0	0	0	0	0	0	0	7	10	8
Cash & Bank	53	17	26	33	65	102	115	119	150	239
	90	120	578	521	561	917	921	914	947	1,194
Total Assets	144	163	676	686	807	1,216	1,271	1,237	1,360	1,701

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
	-39	-1	-438	111	-13	-277	104	149	-98	-386
Cash from Investing	3	-27	-38	-67	-56	-27	-67	8	99	274
Cash from Financing	89	-6	490	-25	105	342	-43	-150	17	186
	53	-37	8	8	21	31	-9	7	18	75

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 (₹)	0.67	8.42	1.44	3.91	2.63	1.50	1.94	2.59	0.30	1.03
Book Value (₹)	11.29	19.70	65.86	69.29	71.85	73.31	75.16	77.60	15.82	16.86
Dividend per Share (₹)	0.00	1.00	0.40	0.10	0.10	0.10	0.10	0.10	0.02	0.00
Cash EPS (₹)	0.10	1.39	0.47	0.98	0.77	0.60	0.66	0.75	0.54	1.27
PROFITABILITY
Operating Margin %	96.48%	60.05%	57.58%	58.85%	61.59%	54.34%	57.75%	54.94%	45.00%	16.20%
Net Margin %	2.69%	11.47%	19.87%	28.88%	21.88%	9.60%	9.32%	10.46%	5.75%	17.80%
ROE %	6.13%	54.33%	4.32%	5.78%	3.73%	2.07%	2.61%	3.39%	1.93%	6.33%
ROCE %	8.70%	10.70%	6.44%	8.34%	6.70%	5.51%	6.88%	8.26%	6.85%	8.91%
	0.23%	1.92%	2.67%	4.46%	2.74%	1.15%	1.21%	1.60%	0.91%	2.64%
EFFICIENCY
Debtor Days	17	5	0	1	1	1	5	10	15	14
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	17	5	0	1	1	1	5	10	15	14
FINANCIAL HEALTH
Debt to Equity (x)	34.83x	1.01x	0.26x	0.21x	0.41x	1.08x	1.09x	0.94x	1.07x	1.41x
Interest Coverage (x)	1.06x	1.45x	2.71x	4.19x	2.54x	1.38x	1.32x	1.38x	1.18x	1.55x
	39.32x	5.79x	3.86x	5.25x	4.75x	1.90x	1.68x	0.41x	0.61x	0.99x
GROWTH
Revenue Growth %	15.85%	194.44%	119.31%	86.57%	-11.13%	29.97%	32.97%	18.91%	6.65%	10.66%
Operating Profit Growth %	16.91%	83.28%	110.25%	90.71%	-6.99%	14.67%	41.32%	15.84%	-13.56%	-57.58%
Net Profit Growth %	186.01%	1153.72%	279.86%	171.25%	-32.67%	-43.00%	29.08%	33.57%	-41.40%	242.57%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	33.57%	-88.29%	240.82%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	10.21x	100.69x	20.09x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.70x	1.93x	1.23x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.07%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	13.63x	18.15x	37.91x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.04	73.04	73.02	72.95	72.87	72.84	72.59	72.59	72.59
	0.00	0.00	0.00	0.13	0.28	0.08	0.06	0.03	0.02
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.96	26.96	26.98	26.92	26.85	27.08	27.35	27.38	27.36

Documents

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

2026-08-31

Press Release

2026-08-31 - Capital India Finance Limited has submitted to the Exchange press/media release titled "Capital India Finance Approves Transfer of RemitX Forex Assets, Sharpens Focus on MSME Lending".

2026-08-31

Outcome of Board Meeting

2026-08-31 - Capital India Finance Limited has submitted to the Exchange regarding Outcome of Board Meeting held on August 31, 2026 for the transfer of the assets in connection with the foreign exchange business operating under the brand name "RemitX".

2026-08-18

Updates

2026-08-18 - Capital India Finance Limited has informed the Exchange regarding 'Letter dispatched to the Members of the Company - Weblink of Annual Report 2025-26'.

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Capital India Finance Limited has informed the Exchange about Copy of Newspaper Publication informing dispatch of Notice and Annual Report for the 32nd Annual General Meeting

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Capital India Finance Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Updates

2026-08-14 - Capital India Finance Limited has informed the Exchange regarding 'Submission of Business Responsibility & Sustainability Report for the Financial Year 2025-26'.

2026-08-14

Shareholders meeting

2026-08-14 - Capital India Finance Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 07, 2026

2026-08-14

Outcome of Board Meeting

2026-08-14 - Capital India Finance Limited has informed the Exchange about approval of the unaudited financial results (Standalone and Consolidated) for the quarter ended June 30, 2026, Raising of Funds and AGM Notice & Book Closure.

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Capital India Finance Limited has informed the Exchange about Copy of Newspaper Publication

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