Finkurve Financial Services Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2019 • Foreign Exchange Trading: 96.4% • NBFC Activity: 3.6% • Leisure & Hospitality: 0.0%
AI Sector View
AI GENERATEDFinancial Services
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.
PROS
- Company has delivered good profit growth of 34.0% CAGR over last 5 years
- Solid return on assets for a lender - ROA of 4.5%
- Asset quality is healthy - gross NPA of just 0.0%
- Latest quarter profit grew 65.8% YoY, showing strong momentum
- Company has delivered good sales growth of 53.8% CAGR over last 5 years
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Company has a low return on equity of 8.8% over last 3 years
- Promoter holding has decreased over last 2 years: -2.8pp
- Company has a low return on capital employed of 11.6%
- Free cash flow has been persistently negative
- Operating margins have contracted to 29.2% from 42.8%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1034.20 | 31.71 | 643888.19 | 0.58 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1028.00 | 21.37 | 241893.03 | 1.05 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| CHOLAFIN | 1845.00 | 27.40 | 157575.18 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| TATACAP | 362.80 | 28.50 | 154003.85 | 0.16 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| JIOFIN | 230.00 | 73.49 | 151872.26 | 0.26 | 830.25 | 155.73 | 2004.47 | 227.28 | 2.11 | 69.71 |
| BAJAJHLDNG | 11120.70 | 13.97 | 123766.17 | 1.75 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2794.40 | 9.86 | 112186.35 | 1.07 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 398.60 | 26.59 | 109118.68 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 309.50 | 24.37 | 77571.61 | 0.89 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 656.05 | 27.44 | 62432.55 | 0.38 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 668.65 | 25.53 | 55549.10 | 0.60 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| FINKURVE | 74.18 | 52.72 | 1039.59 | 0.00 | 4.91 | 162.78 | 23.64 | 191.67 | 11.46 | 35.24 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20 | 23 | 24 | 23 | 28 | 32 | 40 | 40 | 40 | 48 | 52 | 67 | 75 | |
| 16 | 16 | 15 | 15 | 20 | 23 | 28 | 29 | 25 | 32 | 28 | 38 | 65 | |
| Operating Profit | 4 | 7 | 8 | 8 | 8 | 8 | 12 | 11 | 14 | 16 | 24 | 30 | 38 |
| OPM % | 21.21% | 29.31% | 35.24% | 35.63% | 29.51% | 26.61% | 30.98% | 27.88% | 36.36% | 34.15% | 45.48% | 44.20% | 51.05% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 1 |
| Interest | 2 | 1 | 2 | 2 | 2 | 4 | 4 | 6 | 7 | 8 | 14 | 20 | 27 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| 3 | 6 | 7 | 6 | 6 | 5 | 8 | 5 | 7 | 7 | 10 | 10 | 11 | |
| Tax % | 26.25% | 20.87% | 25.94% | 24.62% | 25.59% | 25.54% | 27.88% | 25.33% | 25.48% | 19.89% | 29.85% | 22.84% | 24.69% |
| Net Profit | 2 | 4 | 5 | 5 | 4 | 3 | 6 | 4 | 5 | 6 | 7 | 8 | 8 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 | 10 | 12 | 15 | 16 | 20 | 23 | 50 | 90 | 140 | 242 | |
| 0 | 0 | 2 | 2 | 3 | 7 | 13 | 30 | 64 | 99 | 162 | |
| Operating Profit | 9 | 10 | 11 | 13 | 13 | 13 | 10 | 21 | 26 | 41 | 80 |
| OPM % | 96.81% | 95.19% | 86.58% | 85.35% | 82.38% | 64.07% | 42.72% | 40.74% | 28.96% | 29.21% | 33.11% |
| 0 | 0 | 0 | 0 | 0 | 0 | 21 | 4 | 2 | 1 | 3 | |
| Interest | 8 | 9 | 8 | 12 | 8 | 7 | 3 | 5 | 6 | 17 | 69 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 4 |
| Profit before Tax | 1 | 1 | 3 | 1 | 5 | 6 | 27 | 20 | 21 | 24 | 39 |
| Tax % | 30.71% | 31.67% | 31.86% | 32.96% | 24.48% | 25.87% | 20.14% | 26.91% | 24.26% | 26.30% | 24.60% |
| Net Profit | 1 | 1 | 2 | 1 | 4 | 5 | 22 | 14 | 16 | 17 | 29 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.36 | 1.70 | 1.13 | 1.27 | 1.37 | — |
| 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:
- 53%
- 5 Years:
- 54%
- 3 Years:
- 84%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 62%
- 5 Years:
- 34%
- 3 Years:
- -7%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 9%
- 3 Years:
- 9%
- Last Year:
- 9%
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 | 13 | 13 | 13 | 13 | 13 | 13 |
| 1 | 2 | 4 | 4 | 119 | 123 | 145 | 159 | 175 | 193 | |
| 72 | 75 | 111 | 93 | 73 | 76 | 24 | 54 | 77 | 243 | |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 4 | 6 | 16 |
| 1 | 6 | 2 | 0 | 0 | 4 | 10 | 8 | 16 | 17 | |
| Total Liabilities | 83 | 93 | 126 | 107 | 205 | 217 | 193 | 238 | 287 | 482 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 8 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 |
| 10 | 10 | 10 | 10 | 11 | 13 | 5 | 4 | 3 | 5 | |
| Cash & Bank | 1 | 3 | 0 | 1 | 1 | 2 | 3 | 4 | 9 | 15 |
| 72 | 80 | 117 | 96 | 193 | 202 | 185 | 228 | 274 | 446 | |
| Total Assets | 83 | 93 | 126 | 107 | 205 | 217 | 193 | 238 | 287 | 482 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -32 | 9 | -29 | 30 | -84 | 8 | 35 | -16 | -7 | -134 | |
| Cash from Investing | -0 | -0 | -0 | -0 | -1 | -1 | 28 | -1 | -6 | -5 |
| Cash from Financing | 33 | -6 | 28 | -29 | 85 | -4 | -56 | 23 | 18 | 145 |
| 0 | 2 | -3 | 1 | -0 | 1 | 1 | 2 | 4 | 7 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Finkurve Financial Services Limited has informed the Exchange about Schedule of meet
2026-09-10 - Finkurve Financial Services Limited has informed the Exchange regarding 'intimation for interest payment to concerned NCD Holders'.
2026-09-05 - Finkurve Financial Services Limited has informed the Exchange regarding 'Intimation for interest payment to concerned NCD Holders'.
2026-09-05 - Finkurve Financial Services Limited has informed the Exchange about Newspaper Publication of notice of 42nd Annual General Meeting under Regulation 47 of the SEBI (Listing of Obligations and Disclosure Requirement) Regulations, 2015
2026-09-03 - Finkurve Financial Services Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-01 - Finkurve Financial Services Limited has informed the Exchange about General Updates
2026-09-01 - Finkurve Financial Services Limited has informed the Exchange about Shareholders meeting
2026-09-01 - Outcome of Board Meeting
2026-09-01 - Finkurve Financial Services Limited has informed the Exchange regarding 'Intimation for interest payment to concerned NCD Holders'.
News
Recent coverage and analyst commentary for FINKURVE
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