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About
Arman Financial Services Ltd (ARMANFIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531179 NSE: ARMANFIN Finance - NBFC | Small Cap | Arman Financial Serv Share Price
₹1,964.35 5.15 (0.26%)
As on 18-Sep'26 16:59
Arman Financial Services Ltd (ARMANFIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531179 NSE: ARMANFIN Finance - NBFC | Small Cap | Arman Financial Serv Share Price
₹1,964.35 5.15 (0.26%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,072 Cr.
Current Price
₹1,964.4
52-Week Low / High
₹1,302 / 2,159
TTM EPS
₹110.3
Book Value per Share
₹927.9
P/E Ratio
17.80
Lower than its 5-year historical median
Industry PE
26.9
Price to Book (P/B)
2.12
Lower than its 5-year historical median
EV/EBITDA
7.11
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
6.24%
Outperforms industry median
Return on Capital Employed (ROCE)
13.31%
Outperforms industry median
Return on Assets (ROA)
2.12%
Outperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Improving versus 3-year growth rate
57.16%
Book Value Growth (1 Year)
Slowing versus 3-year growth rate
8.58%
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
0.99%
TTM Sales
₹663 Cr.
Reserves
₹968 Cr.
Equity
₹10.6 Cr.
Face Value
₹10
All Time Low / High
₹0.46 / 2676.10
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Arman Financial Services Ltd a good quality company?
Arman Financial Services Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
-
How efficiently has it grown and managed operations?
By checking its Total Asset growth.
-
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.
How does Arman Financial Services Ltd performance compare with that of its Peers?
AUM Growth of Arman Financial Services Ltd vs Industry Peers?
Arman Financial Services Ltd AUM CAGR is 19.48%, compared to the 5-year industry median CAGR of 9.93%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Arman Financial Services Ltd?
Promoters hold 22.00% of the Arman Financial Services Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Arman Financial Services Ltd over the last decade?
Over the last 9 years, the stock has delivered a CAGR of 22.5% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Arman Financial Services Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 15.9 | 16.6 | 27.3 | 46.6 | 67.1 | 60.6 | 63.3 | 94.4 | 134 | 182 | 231 | |
| YoY Gr. Rt. % | - | 4% | 64.9% | 70.7% | 44% | -9.7% | 4.4% | 49.2% | 41.4% | 36.2% | - | |
| Adj EPS (₹ ) | 3.6 | 3.6 | 4.6 | 17.8 | 21.6 | 9.4 | 19.1 | 33.4 | 36.2 | 41.2 | 40.5 | |
| YoY Gr. Rt. % | - | 0.3% | 28.3% | 283.8% | 21.4% | -56.4% | 103% | 74.7% | 8.3% | 13.8% | - | |
| BVPS (₹ ) | 51.5 | 55.1 | 58.1 | 136.6 | 142.1 | 150.4 | 165.9 | 269.8 | 504.3 | 547.5 | 613.6 | |
| YoY Gr. Rt. % | - | 7% | 5.3% | 135.2% | 4% | 5.9% | 10.3% | 62.7% | 86.9% | 8.6% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 2.8 | 2.7 | 2.5 | 5.8 | 6.3 | 2.6 | 5 | 6.1 | 5.2 | 4.6 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 31.1% | 22.1% | 42.2% | 36.2% | ||||
| Adj EPS | 31.1% | 13.8% | 29.1% | 13.8% | ||||
| BVPS | 30% | 31% | 48.9% | 8.6% | ||||
| Share Price | 22.5% | 18% | -5.3% | 35.6% | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 15.7 | 15.1 | 11.7 | 26.5 | 27.2 | 13.2 | 25.7 | 30.1 | 28.4 | 23.7 | 18.5 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 7.1 | 6.8 | 8.2 | 18.3 | 17 | 6.5 | 12.1 | 15.3 | 10 | 7.8 | 6.6 | |
Valuation of Arman Financial Serv - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income + | 41 | 54 | 79 | 140 | 215 | 196 | 235 | 424 | 662 | 730 |
| Exceptional Items ⓘ | 0 | 0 | 1 | 1 | 4 | 1 | 0 | 0 | 0 | 0 |
| Expenditure ⓘ + | 29 | 44 | 69 | 103 | 161 | 184 | 190 | 299 | 433 | 661 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 12 | 10 | 10 | 36 | 54 | 12 | 46 | 125 | 228 | 69 |
| Taxes ⓘ | 4 | 4 | 2 | 10 | 12 | 1 | 14 | 31 | 55 | 17 |
| Profit After Tax | 8 | 6 | 7 | 26 | 42 | 11 | 32 | 94 | 174 | 52 |
| Adjusted EPS (₹) | 11.3 | 8.2 | 10.3 | 38.0 | 49.1 | 12.5 | 37.4 | 110.5 | 165.7 | 49.6 |
| Dividend Payout Ratio (%) | 12.40% | 12.20% | 9.70% | 3.70% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital + | 50 | 56 | 57 | 123 | 172 | 187 | 213 | 366 | 813 | 874 |
| Short term borrowings | 33 | 42 | 50 | 40 | 23 | 59 | 16 | 176 | 1,103 | 856 |
| Long Term Borrowings | 46 | 48 | 222 | 570 | 670 | 650 | 959 | 1,415 | 607 | 352 |
| Current Liabilities | 112 | 127 | 200 | 73 | 75 | 123 | 81 | 286 | 1,248 | 1,006 |
| Trade Payables | 1 | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 2 | 1 |
| Other Liabilities | -34 | -43 | -50 | -41 | -24 | -60 | -17 | -177 | -1,105 | -858 |
| Total Liabilities ⓘ | 208 | 231 | 478 | 767 | 917 | 960 | 1,253 | 2,067 | 2,668 | 2,233 |
Assets | ||||||||||
| Non Current Asset + | 36 | 38 | 93 | 7 | 8 | 7 | 11 | 26 | 2,082 | 1,747 |
| Current Asset + | 172 | 194 | 385 | 760 | 910 | 953 | 1,242 | 2,042 | 586 | 486 |
| Total Assets ⓘ | 208 | 231 | 478 | 767 | 917 | 960 | 1,253 | 2,067 | 2,668 | 2,233 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 21 | -203 | -221 | -76 | 6 | -281 | -718 | -302 | 493 |
| Cash Flow From Investing Activity ⓘ | -7 | -2 | -12 | -1 | 2 | 2 | -2 | -13 | 18 | -49 |
| Cash Flow From Financing Activity ⓘ | 1 | -9 | 205 | 252 | 94 | 22 | 270 | 681 | 376 | -495 |
| Net Cash Flow ⓘ | -7 | 10 | -9 | 30 | 20 | 30 | -12 | -49 | 92 | -51 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios | ||||||||||
| EPS (₹) | 11.30 | 8.20 | 10.30 | 38 | 49.10 | 12.50 | 37.40 | 110.50 | 165.70 | 49.60 |
| DPS (₹) | 1.40 | 1 | 1 | 1.40 | 0 | 0 | 0 | 0 | 0 | 0 |
| BVPS (₹) | 65.7 | 73.7 | 82.2 | 176 | 203 | 219.9 | 250.3 | 430.3 | 769.4 | 822.7 |
Performance Ratios | ||||||||||
| ROA (%) | 4.5 | 2.9 | 2.1 | 4.2 | 4.9 | 1.1 | 2.9 | 5.7 | 7.3 | 2.1 |
| ROE (%) | 19.0 | 13.1 | 13.5 | 29.5 | 28.3 | 5.9 | 15.9 | 32.5 | 29.6 | 6.2 |
| ROCE (%) | 17.2 | 16.3 | 13.3 | 16.0 | 17.7 | 10.3 | 12.8 | 18.7 | 21.9 | 13.3 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 2.2 | 2.5 | 3.7 | 2.2 | 2.0 | 2.8 | 4.0 | 3.1 | 2.4 | 1.6 |
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Arman Financial Services Ltd FAQs
The current trading price of Arman Financial Serv on 18-Sep-2026 16:59 is ₹1,964.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Arman Financial Serv stood at ₹2,071.7 Cr
The latest P/E ratio of Arman Financial Serv as of 17-Sep-2026 is 48.46.
The latest P/B ratio of Arman Financial Serv as of 17-Sep-2026 is 3.20.
The 52-week high of Arman Financial Serv is ₹2,159.1 and the 52-week low is ₹1,302.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Arman Financial Serv is ₹231 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Arman Financial Services Ltd is a average quality company.
The key valuation ratios of Arman Financial Services Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Arman Financial Services Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Arman Financial Services Ltd
Arman Financial Services is a category A non-banking finance company was originally incorporated on 26th November, 1992 as an erstwhile Arman Lease & Finance Ltd. The company is a public limited listed company. The registered office of the company is located 502-503, Sakar III, Opposite Old High Court, Ahmedabad-380014, Gujarat.
The main objects of the company consist of providing a wide spectrum of financial services both Fund based and Non Fund Based activities which includes term loans, collateral free credit, other forms of credits, thrift and savings and insurance. Arman also plans to render financial services to people by acting as intermediary for banks and financial institutions in the cities, towns, villages of India. The company provides loans for two wheelers, used cars, rickshaws and personal loans. It provides a wide spectrum of financial services like lease/hire purchase, hypothecation, bill discounting, investment in primary and secondary market, merchant banking, portfolio management, loan syndication and loans for education, marriage, travel, and other services.
Arman has rich experience in two and three wheeler segment with all it’s clientele based in Ahmedabad. The company has a database of 20,000 clients with proven credit worthiness which is advantageous for a personal loan or a repeat vehicle loan. The Company was originally rated by ICRA, the noted rating agency and it was assigned credit rating of `7’ which was indicative of safe borrowing from the Bank.
The company has been rated 4 different times by noted rating agency called M-Cril and company has each time received Alpha Minus which is an investment grade. The last time in March 2009 the company received even Alpha for its financial performance.
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