SG Finserve Ltd.
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ABOUT
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 140.7% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 36.6%
- Promoters have been increasing their shareholding - up 10.0pp over 2 years
- Solid return on assets for a lender - ROA of 3.8%
- Asset quality is healthy - gross NPA of just 0.0%
CONS
- Company has a low return on capital employed of 9.4%
- Free cash flow has been persistently negative
- Equity base is being diluted - shares outstanding up 58.1%
- Thin net interest margin of 0.0%
- Growth is decelerating - 3Y profit CAGR (90.7%) trails the 5Y trend (140.7%)
- 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
| 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 | 8302.50 | 2457.29 | 20044.70 | 3172.82 | 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 |
| SGFIN | 661.05 | 27.78 | 4355.99 | 0.00 | 53.68 | 118.92 | 136.11 | 101.64 | 9.32 | 92.46 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 35 | 44 | 52 | 59 | 44 | 31 | 42 | 54 | 68 | 75 | 86 | 105 | 136 | |
| 3 | 6 | 5 | 6 | 6 | 10 | 9 | 4 | 9 | 6 | 7 | 6 | 65 | |
| Operating Profit | 31 | 38 | 47 | 53 | 38 | 21 | 33 | 50 | 59 | 69 | 80 | 99 | 126 |
| OPM % | 90.36% | 86.41% | 89.76% | 89.97% | 86.33% | 67.30% | 78.72% | 91.99% | 87.11% | 92.26% | 92.28% | 93.99% | 92.46% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 11 | 15 | 18 | 21 | 12 | 0 | 1 | 19 | 25 | 30 | 36 | 43 | 54 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 21 | 23 | 29 | 32 | 26 | 21 | 32 | 31 | 34 | 38 | 43 | 56 | 72 | |
| Tax % | 25.17% | 24.87% | 25.19% | 25.42% | 26.16% | 31.69% | 26.35% | 23.43% | 27.59% | 26.12% | 24.58% | 24.80% | 25.03% |
| Net Profit | 16 | 17 | 22 | 24 | 19 | 14 | 24 | 24 | 25 | 28 | 32 | 42 | 54 |
| 4 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 4 | 5 | 6 | 7 | 1 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 1 | 0 | 0 | 2 | 0 | 41 | 190 | 170 | 333 | 403 | |
| 0 | 1 | 1 | 1 | 1 | 1 | 8 | 20 | 28 | 27 | 83 | |
| Operating Profit | -0 | 0 | -1 | -1 | 1 | -1 | 33 | 169 | 142 | 306 | 319 |
| OPM % | -8.81% | 43.40% | -3648.03% | -2870.55% | 59.33% | -237.46% | 79.51% | 89.28% | 83.75% | 91.91% | 79.31% |
| 0 | 0 | 0 | 0 | 1 | 2 | 1 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 64 | 32 | 134 | 164 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before Tax | 0 | 1 | -0 | -1 | 2 | 1 | 25 | 105 | 110 | 172 | 209 |
| Tax % | 23.80% | 29.05% | 28.40% | -4.86% | 4.33% | 29.81% | 26.43% | 25.18% | 26.48% | 25.59% | 25.07% |
| Net Profit | 0 | 1 | -0 | -1 | 2 | 1 | 18 | 79 | 81 | 128 | 157 |
| EPS | 0.46 | 1.17 | -0.68 | -1.99 | 3.15 | 1.57 | 5.05 | 14.29 | 14.49 | 19.56 | — |
| 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:
- 57%
- 5 Years:
- 187%
- 3 Years:
- 100%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 106%
- 5 Years:
- 141%
- 3 Years:
- 91%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 71%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 10%
- 3 Years:
- 11%
- Last Year:
- 11%
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 | 5 | 5 | 5 | 5 | 5 | 5 | 41 | 55 | 56 | 65 |
| 2 | 3 | 2 | 2 | 3 | 4 | 476 | 743 | 843 | 1,385 | |
| 0 | 0 | 1 | 1 | 0 | 0 | 496 | 957 | 1,387 | 2,704 | |
| 0 | 0 | -0 | 0 | 0 | 0 | 65 | 22 | 148 | 61 | |
| Total Liabilities | 7 | 8 | 8 | 8 | 8 | 9 | 1,078 | 1,778 | 2,434 | 4,215 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| 1 | 1 | 1 | 2 | 1 | 2 | 0 | 0 | 80 | 0 | |
| 2 | 2 | 2 | 1 | 3 | 5 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 0 | 0 | 0 | 0 | 0 | 0 | 91 | 77 | 62 | 204 |
| 5 | 5 | 5 | 4 | 4 | 2 | 986 | 1,699 | 2,290 | 4,008 | |
| Total Assets | 7 | 8 | 8 | 8 | 8 | 9 | 1,078 | 1,778 | 2,434 | 4,215 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0 | -0 | -1 | -1 | 0 | 1 | -933 | -629 | -492 | -1,571 | |
| Cash from Investing | 0 | -0 | 1 | 1 | 1 | -0 | 2 | -4 | -56 | 61 |
| Cash from Financing | -0 | -0 | 0 | 0 | -1 | -0 | 1,030 | 616 | 554 | 1,632 |
| -0 | -0 | -0 | -0 | 0 | 0 | 91 | -18 | 6 | 121 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-01 - SG Finserve Limited has informed the Exchange regarding Grant of 150000 Options.
2026-07-20 - SG Finserve Limited has informed the Exchange regarding a press release dated July 20, 2026, titled "Press Release".
2026-07-18 - SG Finserve Limited has informed the Exchange about Transcript
2026-07-17 - SG Finserve Limited has informed the Exchange about Incorporation of Wholly Owned Subsidiary
2026-07-15 - SG Finserve Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-14 - SG Finserve Limited has informed the Exchange about Link of Recording
2026-07-14 - SG Finserve Limited has informed the Exchange about Monitoring Agency Report
2026-07-14 - SG Finserve Limited has informed the Exchange regarding Grant of 55000 Options.
2026-07-14 - SG Finserve Limited has informed the Exchange about Resignation of Director/KMP/SMP
News
Recent coverage and analyst commentary for SGFIN
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SG Finserve Ltd.
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