VB Desai Financial Services Ltd.

•

vbdesai.comBSE: -NSE: VBDESAIFIN

Market Cap₹ 9 Cr.

Current Price

High / Low—

Stock P/E9.0

Book Value₹ 29

Price to Book1.29

Dividend Yield0.00 %

ROCE6.5 %

ROE4.8 %

Face Value₹ 10

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ABOUT

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

Solid return on assets for a lender - ROA of 4.5%
Asset quality is healthy - gross NPA of just 0.0%
Company generates healthy free cash flow

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
A large part of profit comes from other income (64.7% of PBT)
Company has a low return on capital employed of 5.4%
Company has a low return on equity of 3.9% over last 3 years
Operating margins have contracted to 9.7% from 18.6%
Company has delivered a poor sales growth of 2.6% over past five years

* 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	1990.00	31.43	318810.21	0.08	6296.67	18.15	42036.90	92.22	11.88	40.79
2.	AIIL	510.20	20.65	43327.49	0.00	11082.20	1075.19	14695.40	1109.37	30.27	88.91
3.	CHOLAHLDNG	1487.10	10.46	27924.39	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13055.20	13.41	26413.42	0.66	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	256.20	21.86	24650.38	0.08	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13572.20	55.69	15511.08	1.62	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11458.70	92.58	12718.73	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	129.45	11.91	12387.85	2.51	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	403.15	18.39	8954.12	2.77	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	247.65	155.41	8537.33	0.00	-46.98	-674.86	2353.40	1051.76	-1.28	-2.08
11.	KAMAHOLD	2341.45	8.07	7513.85	1.77	584.02	10.80	4657.56	7.07	20.86	22.01
12.	VBDESAIFIN	18.90	8.95	8.56	0.00	2.92	1338.42	10.85	1024.35	6.53	14.29

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
	1	0	1	1	1	1	1	1	1	1	1	1	1
	1	0	1	1	1	1	1	1	1	1	1	1	1
Operating Profit	0	0	0	0	0	0	0	0	0	0	0	0	0
OPM %	17.28%	6.00%	7.69%	21.15%	15.58%	10.96%	8.06%	4.23%	0.00%	5.88%	3.51%	1.61%	14.29%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
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
	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax %	22.22%	28.57%	18.18%	26.92%	29.41%	23.08%	11.76%	35.48%	25.93%	25.00%	26.67%	25.00%	31.69%
Net Profit	0	0	0	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	1	0	0	0
Equity Capital	5	5	5	5	5	5	5	5	5	5	5	5	5
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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
	1	1	1	2	2	2	3	2	3	3	3
	1	1	1	2	2	2	2	2	3	3	3
Operating Profit	0	0	0	1	1	0	0	0	1	1	—
OPM %	31	20	21	26	30	16	19	18	20	27	—
Other Income	0	0	0	0	0	0	0	0	0	0	1
Interest	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	0	1	1	0	0	0	1	1	1
Tax %	21	-8	64	12	17	39	26	30	25	27	28
Net Profit	0	0	0	0	1	0	0	0	0	1	1
EPS	0	0	0	0	1	0	1	1	1	1	—
Dividend Payout %	0	0	0	0	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	0	0	1	1	0	1	1	1	1	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 3%
3 Years:: 2%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: -1%
3 Years:: 16%

STOCK PRICE CAGR

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

RETURN ON EQUITY

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

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	5	5	5	5	5	5	5	5	5	5
	4	5	5	5	6	6	6	6	7	8
Total Liabilities	9	9	10	10	11	11	11	11	12	13
ASSETS	-	-	-	-	-	-	-	-	-	-
	3	3	5	8	8	8	9	9	9	0
	0	0	0	0	0	0	0	0	0	0
Cash & Bank	1	0	0	0	0	0	0	0	0	1
	5	6	4	2	2	2	2	3	3	11
Total Assets	9	9	10	10	11	11	11	11	12	13
Total Debt	0	0	0	0	0	0	0	0	0	0
Net Working Capital	1	0	0	0	1	1	0	0	1	1
Contingent Liabilities	0	0	0	0	0	0	0	0	0	0
Book Value per Share	19.91	20.19	20.30	21.11	22.41	22.84	23.63	24.32	25.35	26.58
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

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
	0	-0	2	2	-0	-0	0	-0	0	-8
Cash from Investing	-0	-0	-2	-2	0	0	-0	-0	0	8
Cash from Financing	0	-0	-0	0	0	0	0	0	0	0
	0	-0	-0	0	-0	-0	0	-0	0	0
Free Cash Flow	0	-0	2	2	-0	-0	0	-0	0	-8
OCF / Net Profit	0.93	-0.95	22.83	5.17	-0.11	-0.09	1.22	-0.41	0.69	-14.87
Cumulative 5-Year FCF	0	0	0	0	4	4	4	3	1	-8

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
PER SHARE
EPS (₹)	0.59	0.31	0.17	1.00	1.31	0.43	0.79	0.68	1.03	1.23
Book Value (₹)	19.91	20.19	20.30	21.11	22.41	22.84	23.63	24.32	25.35	26.58
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.66	0.37	0.25	1.08	1.36	0.44	0.81	0.70	1.03	1.24
PROFITABILITY
Operating Margin %	30.60%	19.83%	20.54%	26.01%	29.60%	16.10%	18.60%	18.20%	14.07%	9.69%
Net Margin %	21.93%	15.81%	6.34%	21.36%	23.76%	9.64%	13.49%	12.46%	14.98%	19.74%
ROE %	2.99%	1.52%	0.85%	4.84%	6.00%	1.89%	3.41%	2.85%	4.16%	4.75%
ROCE %	3.78%	1.56%	2.38%	5.52%	7.22%	3.10%	4.63%	4.09%	5.50%	6.53%
	2.91%	1.47%	0.81%	4.62%	5.73%	1.82%	3.27%	2.73%	3.96%	4.54%
EFFICIENCY
Debtor Days	23	44	35	24	25	30	28	47	47	47
Inventory Days	7	13	10	5	2	1	1	2	1	2
Payable Days	0	0	0	0	0	0	0	0	0	0
	31	57	45	28	27	31	30	49	49	49
FINANCIAL HEALTH
Debt to Equity (x)	0.01x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	165.40x	10.34x	216.16x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
	4.96x	2.73x	1.55x	1.60x	3.31x	3.40x	1.74x	1.61x	1.85x	5.30x
GROWTH
Revenue Growth %	-3.56%	-27.73%	40.24%	73.37%	17.10%	-19.08%	31.96%	-6.47%	25.53%	-9.27%
Operating Profit Growth %	-4.79%	-53.17%	45.27%	119.57%	33.23%	-55.99%	52.45%	-8.46%	37.21%	24.33%
Net Profit Growth %	-28.32%	-47.92%	-43.78%	484.46%	30.27%	-67.17%	84.65%	-13.59%	50.86%	19.61%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	50.85%	19.61%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.09x	27.69x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.65x	1.29x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	11.46x	19.30x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42.27	42.27	42.27	42.27	42.27	42.27	42.27	42.27	42.27
	1.11	1.11	0.99	0.99	0.94	0.94	0.94	0.94	0.94
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	56.62	56.62	56.74	56.74	56.79	56.79	56.79	56.79	56.79

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for VBDESAIFIN

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VB Desai Financial Services Ltd.

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Name

BAJAJFINSV

1990.00

31.43

318810.21

0.08

6296.67

18.15

42036.90

92.22

11.88

40.79

AIIL

510.20

20.65

43327.49

0.00

11082.20

1075.19

14695.40

1109.37

30.27

88.91

CHOLAHLDNG

1487.10

10.46

27924.39

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13055.20

13.41

26413.42

0.66

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

256.20

21.86

24650.38

0.08

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13572.20

55.69

15511.08

1.62

3.32

-90.61

5.41

-81.52

1.06

84.10

JSWHL

11458.70

92.58

12718.73

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

JMFINANCIL

129.45

11.91

12387.85

2.51

368.57

-19.66

1200.53

9.69

11.91

58.30

TSFINV

403.15

18.39

8954.12

2.77

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

247.65

155.41

8537.33

0.00

-46.98

-674.86

2353.40

1051.76

-1.28

-2.08

KAMAHOLD

2341.45

8.07

7513.85

1.77

584.02

10.80

4657.56

7.07

20.86

22.01

VBDESAIFIN

18.90

8.95

8.56

0.00

2.92

1338.42

10.85

1024.35

6.53

14.29

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

Operating Profit

OPM %

17.28%

6.00%

7.69%

21.15%

15.58%

10.96%

8.06%

4.23%

0.00%

5.88%

3.51%

1.61%

14.29%

Other Income

Interest

Depreciation

Tax %

22.22%

28.57%

18.18%

26.92%

29.41%

23.08%

11.76%

35.48%

25.93%

25.00%

26.67%

25.00%

31.69%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

-8

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

Total Liabilities

ASSETS

Cash & Bank

Total Assets

Total Debt

Net Working Capital

Contingent Liabilities

Book Value per Share

19.91

20.19

20.30

21.11

22.41

22.84

23.63

24.32

25.35

26.58

Face Value

10.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-0

-8

Cash from Investing

-0

-2

-0

Cash from Financing

-0

Free Cash Flow

-0

-8

OCF / Net Profit

0.93

-0.95

22.83

5.17

-0.11

-0.09

1.22

-0.41

0.69

-14.87

Cumulative 5-Year FCF

-8

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.59

0.31

0.17

1.00

1.31

0.43

0.79

0.68

1.03

1.23

Book Value (₹)

19.91

20.19

20.30

21.11

22.41

22.84

23.63

24.32

25.35

26.58

Dividend per Share (₹)

0.00

Cash EPS (₹)

0.66

0.37

0.25

1.08

1.36

0.44

0.81

0.70

1.03

1.24

PROFITABILITY

Operating Margin %

30.60%

19.83%

20.54%

26.01%

29.60%

16.10%

18.60%

18.20%

14.07%

9.69%

Net Margin %

21.93%

15.81%

6.34%

21.36%

23.76%

9.64%

13.49%

12.46%

14.98%

19.74%

ROE %

2.99%

1.52%

0.85%

4.84%

6.00%

1.89%

3.41%

2.85%

4.16%

4.75%

ROCE %

3.78%

1.56%

2.38%

5.52%

7.22%

3.10%

4.63%

4.09%

5.50%

6.53%

2.91%

1.47%

0.81%

4.62%

5.73%

1.82%

3.27%

2.73%

3.96%

4.54%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.01x

0.00x

Interest Coverage (x)

165.40x

10.34x

216.16x

0.00x

4.96x

2.73x

1.55x

1.60x

3.31x

3.40x

1.74x

1.61x

1.85x

5.30x

GROWTH

Revenue Growth %

-3.56%

-27.73%

40.24%

73.37%

17.10%

-19.08%

31.96%

-6.47%

25.53%

-9.27%

Operating Profit Growth %

-4.79%

-53.17%

45.27%

119.57%

33.23%

-55.99%

52.45%

-8.46%

37.21%

24.33%

Net Profit Growth %

-28.32%

-47.92%

-43.78%

484.46%

30.27%

-67.17%

84.65%

-13.59%

50.86%

19.61%

0.00%

50.85%

19.61%

VALUATION

P/E (x)

0.00x

16.09x

27.69x

P/B (x)

0.00x

0.65x

1.29x

Dividend Yield %

0.00%

0.00x

11.46x

19.30x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

42.27

1.11

0.99

0.94

DIIs

0.00

Government

0.00

56.62

56.74

56.79

VB Desai Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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VB Desai Financial Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI