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10 Yrs X-Ray 
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AYE Finance Ltd (AYE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544699 NSE: AYE Finance - NBFC | Small Cap | AYE Finance Share Price
₹178.80 0.90 (0.51%)
As on 11-Sep'26 16:01
AYE Finance Ltd (AYE)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544699 NSE: AYE Finance - NBFC | Small Cap | AYE Finance Share Price
₹178.80 0.90 (0.51%)
As on 11-Sep'26 16:01
Key Metrics
Valuation Multiples
Market Cap
₹4,390 Cr.
Current Price
₹178.8
52-Week Low / High
₹88 / 198
TTM EPS
-
Book Value per Share
-
P/E Ratio
Industry PE
27.2
Price to Book (P/B)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Slowing versus 3-year growth rate
29.13%
Book Value Growth (1 Year)
Improving versus 3-year growth rate
18.52%
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
1.79%
TTM Sales
-
Reserves
-
Equity
₹49.4 Cr.
Face Value
₹2
All Time Low / High
₹88.40 / 197.95
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is AYE Finance Ltd a good quality company?
AYE Finance 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 AYE Finance Ltd performance compare with that of its Peers?
AUM Growth of AYE Finance Ltd vs Industry Peers?
AYE Finance Ltd AUM CAGR is 29.8%, compared to the 5-year industry median CAGR of 10.04%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of AYE Finance Ltd?
Promoters hold 0.00% of the AYE Finance Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of AYE Finance Ltd over the last decade?
Over the last - years, the stock has delivered a CAGR of N/A% 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.
AYE Finance Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 24.5 | 79.7 | 210 | 412 | 495 | 432 | 623 | 1,040 | 1,460 | 1,815 | 1,815 | |
| YoY Gr. Rt. % | - | 225.8% | 162.9% | 96.4% | 20.3% | -12.8% | 44.3% | 66.9% | 40.3% | 24.3% | - | |
| Adj EPS (₹ ) | -3.4 | 1.1 | 11.8 | 15.2 | 7.9 | -24.1 | 20.5 | 80.4 | 9.1 | 7.9 | 7.9 | |
| YoY Gr. Rt. % | - | NA | 988% | 29.2% | -47.9% | -404.1% | NA | 291.4% | -88.7% | -12.6% | - | |
| BVPS (₹ ) | 35.2 | 36.2 | 221 | 229.4 | 334 | 312.7 | 334.6 | 551.8 | 86.1 | 102.1 | 104.2 | |
| YoY Gr. Rt. % | - | 2.9% | 510.4% | 3.8% | 45.6% | -6.4% | 7% | 64.9% | -84.4% | 18.5% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | -6.3 | 0.7 | 2.8 | 2 | 0.8 | -2.4 | 1.6 | 4.3 | 3.1 | 2.8 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 61.4% | 29.7% | 42.8% | 24.3% | ||||
| Adj EPS | NA | 0% | -27.2% | -12.6% | ||||
| BVPS | 12.6% | -21.1% | -32.7% | 18.5% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0.1 | 0.8 | 1.4 | 1.3 | 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 (%) | -29.4 | 2.9 | 12 | 7.9 | 3.4 | -11.9 | 7 | 16.5 | 11.7 | 10.7 | 10.7 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | -15.8 | 3 | 9.1 | 6.7 | 2.8 | -7.4 | 6.4 | 18.1 | 12.2 | 9.4 | 7.5 | |
Valuation of AYE Finance - 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 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
AYE Finance Ltd FAQs
The current trading price of AYE Finance on 11-Sep-2026 16:01 is ₹178.8.
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 10-Sep-2026 the market cap of AYE Finance stood at ₹4,390.3 Cr
The latest P/E ratio of AYE Finance as of 10-Sep-2026 is 22.67.
The latest P/B ratio of AYE Finance as of 10-Sep-2026 is 1.71.
The 52-week high of AYE Finance is ₹197.9 and the 52-week low is ₹88.40.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of AYE Finance is ₹1,815 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that AYE Finance Ltd is a below average quality company.
The key valuation ratios of AYE Finance Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of AYE Finance Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About AYE Finance Ltd
Aye Finance was incorporated on August 12, 1993, as a private limited company under the Companies Act 1956, under the name ‘Doda Finance Private Limited’, at Jalandhar, Punjab pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. The company was originally promoted by Suresh Chander and other individuals forming part of the initial subscriber group.
The company is a non-banking financial company - middle layer (NBFC-ML) focused on providing loans to micro scale micro, small and medium enterprises (MSMEs) across India. It offers a range of business loans for working capital and business expansion needs, against hypothecation of working assets or against security of property to customers across manufacturing, trading, service and allied agriculture sectors. It is among the leading nonbanking financial companies (NBFCs) providing business loans to the largely underserved micro scale enterprises in India. It offers small-ticket business loans with an average ticket size (ATS) on disbursement of Rs 0.18 million to micro enterprises. Its expertise in underwriting business cash flows of a variety of business clusters has enabled it to maintain stable credit costs and allowed it to profitably scale up its operations.
The company is the most geographically diversified lender among the Peer MSME Focused NBFCs. Its Assets Under Management (AUM) is also spread across various types of industries, ensuring a balanced presence in both regional and sectoral terms. This strategic distribution of its portfolio across India reduces the risk of geographic concentration and strengthens its risk management and operational resilience. Its target customers are micro scale businesses, predominantly located in semi-urban areas. The industries it serves include manufacturing, trading, service and allied agriculture.
Business area of the company
The company is a NBFC-ML focused on providing loans to MSMEs across India. The company offers a range of business loans for working capital and business expansion needs, against hypothecation of working assets or against security of property to customers across manufacturing, trading, service and allied agriculture sectors.
Products of the company
- Mortgage loans
- ‘Saral’ property loans
- Secured hypothecation loans
- Unsecured hypothecation loan
Key awards, accreditations and recognitions
- 2018: Received the ‘Skoch Award-Skoch Order of Merit’ for qualifying in top ranking digital economy projects in India to enable financial inclusion of micro enterprises.
- 2018: Received the ‘award for building the Next Billion category’ from Facebook on the Indian Startup Day.
- 2019: Received the ‘DigiDhan Mission-FinTech Award for Promotion of Digital Payments’ award for innovation of digital payments through lending.
- 2019: Received the award for ‘Best Financial Inclusion Initiative-Cluster-Based Credit Assessment of Micro Enterprises’ from BusinessWorld Digital India.
- 2019: Received the ETBFSI excellence award for innovation in financial services-innovative NBFC of the year.
- 2019: Received ‘Inclusive Finance India’ award under the category ‘Non-Banking Finance Company lending to Micro and Small Enterprises’.
- 2020: Ranked 14th by ‘Great Place to Work Institute (India)’ in India’s best companies to work for in 2020.
- 2021: Ranked nine by ‘Great Place to Work Institute (India)’ in best large workplaces in Asia for 2021.
- 2021: Received an award for the ‘SME Financier of the Year’, Asia in the gold category by the SME Finance Forum.
- 2021: Ranked fourth by ‘Great Place to Work Institute (India)’ in India’s best companies to work for in 2021.
- 2021: Received an award for the best financial inclusion initiative by ‘Banking Frontiers’.
- 2021: Recognized in BFSI Segment among the best companies to work for in India by ‘Great Place to Work’.
- 2022: Received the Elets first ‘NBFC 100 Leader of Excellence Award’ for ‘Financial Inclusion Crusader’.
- 2022: Recognized in BFSI Segment among the top 30 best companies to work for in India by ‘Great Place to Work’.
- 2022: Ranked second in the best companies to work for ‘Great Place to Work’ in India 2022 and Great Place to Work Institute (India).
- 2022: Received an award by Inaugural Edition of the BW Unicorn Summit & Awards for Most Impactful Leadership Team.
- 2023: Received the Elets 2nd NBFC 100 Leader of Excellence Award for ‘Most Innovative Use of AI’.
- 2023: Recognized in top 25 category for India’s Best Workplaces by ‘Great Place to Work’.
- 2023: Received ‘Best For-profit Project for Underserved Communities’ award by ‘The Money Awareness and Inclusion Awards’.
- 2023: Featured amongst ‘India’s Best Workplaces for Millennials, 2023’ by ‘Great Place to Work’.
- 2023: Received the ‘Inclusive Finance India Award’ by Access Development Services under the category ‘Inclusive Enterprise Lending by Non-Banking Finance Company’.
- 2023: Received the ‘Best MSME Financing Institution’ Award at the 5th edition of the Emerging Businesses Awards hosted by BW Businessworld.
- 2024: Frost & Sullivan, leading global research and consulting firm, recognized it as the ‘Technology Innovation Leader in the Indian Inclusive Fintech Solution Industry for 2024’.
- 2024: Ranked sixth, Best Companies to work for in India by ‘Great Place to Work’.
- 2024: Recognized as runner up for the Best Overall Performance by ASSOCHAM at the 19th Annual Summit & Awards on Banking & Financial Sector Lending Companies.
- 2024: ET Edge (The Times Group) recognized us as as one of the Best Brands in 2024.
- 2024: Recognised as the Best SME Finance Company India 2024 by Global Banking & Finance Review.
- 2024: Honored with a ‘Financial Inclusion Organization of the Year’ at the prestigious Bharat Fintech Summit 2024.
- 2025: Ranked 3rd by ‘Great Place to Work Institute (India)’ in India’s best companies to work for in 2025.
- 2025: Received the ‘Best Upcoming NBFC in MSME Lending’ at 1st MSME Banking and NBFC Excellence Sammaan from PHD Chamber of Commerce and Industry in the category of ‘Best Upcoming NBFC in MSME Lending’
- 2025: Recognized as ‘SME Financier of the Year - Asia’ award at the Global SME Finance Forum 2025 (Johannesburg, South Africa).
- 2025: Aye Finance has been recognized as one of India’s Best Workplaces in NBFCs 2025 by Great Place to Work.
- 2025: Recognised for Excellence in Financial Inclusion at the 8th NBFC 100 Leader of Excellence Awards, hosted by Elets Technomedia in New Delhi.
- 2025: Featured in the global list curated by CNBC and Statista.
- 2025: Recognized by TIME and Statista as one of India’s Best Employers 2025.
History and milestones
- 2014: The shareholding of Doda Finance Private Limited was transferred to Sanjay Sharma and Vikram Jetley and the name of the Company was changed to Aye Finance Private Limited.
- 2015: Raised series A and A1 funding from Accion Africa-Asia Investment Company and SAIF Partners India V Limited.
- 2015: The company obtained the certificate of registration as NBFC from RBI in the name of Aye Finance Private Limited.
- 2015: Disbursed loans of approximately Rs 290 million.
- 2015: Opened its first branch in Rajasthan and Punjab and Haryana, respectively
- 2015: Expanded its network to 16 branches.
- 2016: Raised series B funding from LGT Capital Invest Mauritius PCC with Cell E/VP.
- 2016: Opened its first branch in Tamil Nadu and Karnataka, respectively.
- 2016: Commenced digital journey through an automated loan origination and decision process.
- 2017: Reached a landmark of 33,000 customers (across loan portfolios).
- 2017: Crossed AUM of Rs 3,400.00 million.
- 2018: Raised series C funding from CapitalG LP.
- 2017: Expanded to 100 branches across 18 states and 3 union territories.
- 2017: Got classified by the RBI as a ‘systemically important NBFC’.
- 2019: Raised series D funding from Maj Invest Financial Inclusion Fund II K/S and Alpha Wave India Fund I LP.
- 2019: Crossed 200,000 customers, AUM of Rs 15,900.00 million and 3,000 plus employees.
- 2020: Raised series E equity round during covid times from CapitalG International LLC, A91 Emerging Fund I LLP, MAJ Invest Financial Inclusion Fund II K/S, Alpha Wave India I LP and LGT Capital Invest Mauritius PCC with Cell E/VP.
- 2020: Expanded to 203 branches in 16 states and 2 union territories.
- 2021: Expanded to 308 branches in 17 states and 3 union territories.
- 2022: Expanded to 395 branches in 18 states and 3 union territories,
- 2022: Crossed 5,000 employees.
- 2024: Raised series F funding from British International Investment plc and Waterfield Alternative Investments Fund I.
- 2024: Disbursed loans of around Rs 100,000 million.
- 2024: Expanded to 499 branches in 18 states and 3 union territories.
- 2024: Raised series G funding from ABC Impact.
- 2024: Crossed AUM of Rs 50,000.00 million.
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