TSF Investments Ltd.

•

sundaramholdings.inBSE: -NSE: TSFINV

Market Cap₹ 9,393 Cr.

Current Price

High / Low₹ 702 / 332

Stock P/E29.9

Book Value₹ 321

Price to Book1.08

Dividend Yield2.64 %

ROCE4.1 %

ROE3.8 %

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 77.4% 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 delivered good sales growth of 50.2% CAGR over last 5 years
Latest quarter profit grew 49.2% YoY, showing strong momentum
Operating margins have improved to 96.4% from 84.0%

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Recent results are weak - TTM profit is down 22.6% versus prior year
Company has a low return on capital employed of 5.3%
Company has a low return on equity of 4.7% over last 3 years
Effective tax rate is unusually low at 8.9% - earnings may be flattered
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	1927.00	30.43	308717.22	0.08	62966.70	1081.55	420369.00	1091.26	11.88	40.79
2.	AIIL	515.10	20.85	43743.61	0.00	11082.20	1075.19	14695.40	1109.37	13.85	88.91
3.	CHOLAHLDNG	1529.15	10.76	28713.99	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13141.85	13.49	26588.73	0.65	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	272.25	23.23	26194.64	0.07	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13294.90	54.55	15194.17	1.65	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11368.40	91.85	12618.50	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	126.60	11.65	12115.11	2.57	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	422.90	19.29	9392.77	2.64	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	256.80	161.16	8852.76	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2298.75	7.93	7376.82	1.80	584.02	10.80	4657.56	7.07	20.86	22.01
12.	PILANIINVS	4138.60	138.89	4582.36	0.22	-47.26	-17.55	14.44	-70.70	1.41	-9.33

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
	108	28	30	210	155	23	16	79	134	35	54	66	197
	7	5	5	4	2	2	3	3	2	5	2	2	2
Operating Profit	104	27	28	209	154	21	15	76	132	30	52	64	195
OPM %	96.47%	94.53%	92.91%	99.57%	99.43%	94.69%	89.50%	96.74%	98.53%	85.61%	96.42%	97.53%	99.02%
Other Income	1	1	1	1	1	1	1	1	1	1	1	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	104	27	28	209	154	22	15	77	132	30	53	65	196
Tax %	11.42%	14.10%	6.70%	14.18%	5.36%	24.12%	24.40%	20.05%	10.60%	22.35%	16.31%	-7.14%	9.91%
Net Profit	93	23	26	179	146	17	12	62	118	24	44	69	177
	4	1	1	8	7	1	1	3	5	1	2	3	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
	4	74	119	92	38	78	128	388	276	288	352
	4	15	25	28	21	29	23	21	10	11	11
Operating Profit	0	59	94	64	16	49	106	367	266	278	341
OPM %	10.02%	79.51%	79.17%	69.45%	43.67%	63.02%	82.31%	94.59%	96.55%	96.36%	97.00%
	0	2	2	2	2	2	2	2	3	3	3
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	1	1	1	1	0	0	0	0
Profit before Tax	1	60	95	65	18	50	107	369	269	281	344
Tax %	40.07%	9.46%	11.05%	5.73%	17.57%	6.99%	11.65%	12.82%	12.19%	8.88%	8.80%
Net Profit	0	54	85	61	15	47	95	322	236	256	314
EPS	0.00	0.00	0.00	0.00	0.96	2.25	4.27	14.48	10.63	11.51	—
Dividend Payout %	0.00%	41.67%	31.13%	30.77%	51.93%	130.20%	93.76%	53.18%	55.05%	96.87%	—

COMPOUNDED SALES GROWTH

10 Years:: 44%
5 Years:: 50%
3 Years:: 31%

COMPOUNDED PROFIT GROWTH

10 Years:: 74%
5 Years:: 77%
3 Years:: 39%

STOCK PRICE CAGR

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

RETURN ON EQUITY

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

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	20	76	76	76	76	111	111	111	111	111
	15	2,204	1,694	1,165	1,350	1,995	3,596	5,910	6,565	6,833
Trade Payables	0	1	0	0	0	0	0	0	0	0
	0	127	85	61	103	88	427	929	698	706
Total Liabilities	35	2,408	1,855	1,302	1,529	2,195	4,134	6,950	7,374	7,650
	0	3	3	6	5	2	2	2	2	1
Capital Work in Progress	0	0	0	0	0	0	0	0	0	1
	32	2,398	1,847	1,289	1,518	2,179	4,106	6,763	7,338	7,621
	0	0	0	0	0	0	0	1	0	0
Cash & Bank	0	2	0	2	1	1	1	163	1	2
	3	5	5	5	5	12	26	21	33	25
Total Assets	35	2,408	1,855	1,302	1,529	2,195	4,134	6,950	7,374	7,650

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
	2	153	65	60	13	32	103	125	165	204
Cash from Investing	-21	-145	-28	-8	-3	-343	-19	138	-119	-7
Cash from Financing	18	-1	-28	-46	-8	319	-72	-100	-209	-197
	-0	2	-2	1	-1	0	0	162	-163	0

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

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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