TSF Investments Ltd.

•

sundaramholdings.inBSE: -NSE: TSFINV

Market Cap₹ 9,711 Cr.

Current Price

High / Low₹ 702 / 332

Stock P/E19.9

Book Value₹ 273

Price to Book1.24

Dividend Yield2.55 %

ROCE3.5 %

ROE2.1 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Manufacturing: 81.5% • Investments: 9.3% • Support services: 6.6%

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 66.9% CAGR over last 5 years
Solid return on assets for a lender - ROA of 3.4%
Asset quality is healthy - gross NPA of just 0.0%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 75.3% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 47.5%

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Company has a low return on capital employed of 3.9%
Company has a low return on equity of 2.7% over last 3 years
Operating margins have contracted to 20.5% from 53.9%
Thin net interest margin of 0.0%

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

Peer comparison

Financial ServicesFinanceFinance - Investment

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

S.No.	Name
1.	BAJAJFINSV	1917.30	30.28	307163.22	0.08	62966.70	1081.55	420369.00	1091.26	11.88	40.79
2.	AIIL	546.65	22.13	46422.91	0.00	11082.20	1075.19	14695.40	1109.37	13.85	88.91
3.	CHOLAHLDNG	1525.75	10.74	28650.15	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13000.05	13.35	26301.84	0.66	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	266.10	22.71	25602.92	0.08	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13002.55	53.35	14860.05	1.69	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11435.95	92.40	12693.48	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	124.75	11.48	11938.08	2.61	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	437.25	19.95	9711.49	2.55	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	256.95	161.25	8857.93	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2282.95	7.87	7326.12	1.82	584.02	10.80	4657.56	7.07	20.86	22.01
12.	PILANIINVS	4196.35	140.83	4646.30	0.21	-47.26	-17.55	14.44	-70.70	1.41	-9.33

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	9	9	10	203	29	15	33	49	151	21	248	284	306
	14	11	12	11	9	9	9	12	132	200	210	240	245
Operating Profit	10	13	13	207	34	21	24	37	47	50	49	57	163
OPM %	109.08%	138.41%	137.24%	102.13%	117.54%	144.66%	72.29%	75.50%	30.98%	235.56%	19.54%	20.16%	53.35%
Other Income	1	2	2	0	1	2	0	2	2	4	2	9	1
Interest	0	0	0	0	0	0	0	0	5	7	7	7	7
Depreciation	1	1	1	1	1	1	1	1	3	4	4	4	4
	10	14	15	206	34	22	23	38	41	44	40	56	153
Tax %	133.27%	37.49%	23.77%	14.85%	28.63%	35.01%	24.68%	44.25%	48.30%	35.98%	37.37%	8.86%	18.41%
Net Profit	0	0	0	0	1,103	889	1,057	1,071	1,584	1,029	1,047	1,642	125
	3	4	5	12	5	4	5	5	7	5	5	7	1

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	68	99	93	59	84	90	291	155	985	860
	47	59	62	49	61	45	48	39	783	895
Operating Profit	21	40	30	10	23	45	243	116	202	-35
OPM %	30.53%	40.32%	32.92%	17.05%	27.38%	50.00%	83.38%	74.89%	20.50%	-4.05%
	3	3	6	6	4	4	6	5	20	17
Interest	0	0	0	0	1	0	1	1	25	27
Depreciation	1	1	1	1	4	2	3	3	16	17
Profit before Tax	23	42	35	14	22	47	245	117	180	293
Tax %	22.41%	28.13%	15.76%	32.10%	20.92%	32.50%	21.46%	34.13%	30.74%	21.82%
Net Profit	18	30	29	10	17	32	192	77	125	229
EPS	0.00	0.00	0.00	4.89	7.72	10.70	24.00	18.55	23.49	—
Dividend Payout %	17.48%	19.24%	24.17%	10.23%	37.43%	37.40%	32.08%	31.53%	47.46%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 75%
3 Years:: 122%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 48%
3 Years:: 30%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: 2%
3 Years:: 3%
Last Year:: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	76	76	76	76	111	111	111	111	111
Minority Interest	0	0	0	0	0	0	0	0	61
	2,736	2,290	1,782	2,119	2,891	3,459	4,682	5,495	5,922
	0	0	0	0	0	0	0	0	220
Trade Payables	1	1	1	1	1	1	0	2	119
	127	86	64	110	93	64	155	228	310
Total Liabilities	2,940	2,453	1,922	2,306	3,096	3,635	4,948	5,837	6,743
	6	6	9	10	7	22	20	27	400
Capital Work in Progress	0	0	0	0	0	0	0	0	1
	2,910	2,420	1,879	2,269	3,053	3,553	4,708	5,738	5,781
	0	0	0	0	0	0	0	0	152
	0	0	0	0	0	0	6	6	209
Cash & Bank	4	5	10	11	14	17	183	16	142
	21	22	25	15	21	43	31	49	59
Total Assets	2,940	2,453	1,922	2,306	3,096	3,635	4,948	5,837	6,743

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	153	70	67	23	41	115	132	188	266
Cash from Investing	-146	-30	-11	-10	-345	-25	136	-148	-159
Cash from Financing	-1	-28	-46	-8	319	-73	-103	-211	-50
	1	1	5	1	3	2	165	-171	57

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.97	54.97	54.97	54.97	54.97	54.97	55.01	54.99	54.99
	0.78	1.04	1.02	1.01	1.44	2.60	3.15	3.20	3.27
	5.30	5.19	5.19	5.19	5.15	4.90	4.78	4.75	4.27
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	38.94	38.80	38.82	38.83	38.45	37.53	37.06	37.05	37.46

Documents

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

2026-09-09

General Updates

2026-09-09 - TSF INVESTMENTS LIMITED has informed the Exchange about General Updates

2026-09-03

Corrigendum

2026-09-03 - TSF INVESTMENTS LIMITED has informed the Exchange regarding Corrigendum to Notice of Postal Ballot

2026-08-21

Copy of Newspaper Publication

2026-08-21 - TSF INVESTMENTS LIMITED has informed the Exchange about Copy of Newspaper Publication

2026-08-20

Shareholders meeting

2026-08-20 - TSF INVESTMENTS LIMITED has informed the Exchange regarding Notice of Postal Ballot

2026-08-19

Acquisition

2026-08-19 - TSF INVESTMENTS LIMITED has informed the Exchange about Acquisition

2026-08-05

Copy of Newspaper Publication

2026-08-05 - TSF INVESTMENTS LIMITED has informed the Exchange about Copy of Newspaper Publication

2026-08-04

Outcome of Board Meeting

2026-08-04 - TSF INVESTMENTS LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-31

Acquisition

2026-07-31 - TSF INVESTMENTS LIMITED has informed the Exchange about Further Acquisition of Shares in Wheels India Limited

2026-07-24

Shareholders meeting

2026-07-24 - TSF INVESTMENTS LIMITED has informed the Exchange regarding voting results of 32nd Annual General Meeting held on July 23, 2026

News

Recent coverage and analyst commentary for TSFINV

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