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Arman Financial Services Limited
(ARMANFIN)
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Rating:51Neutral
Price Target:
₹1,708.00
▲(9.97% Upside)
Action:Reiterated
Date:09/29/26
The score is held back primarily by weakening financial quality (notably the 2026 cash-flow deterioration and net income compression) and bearish technicals (price below key moving averages with negative MACD). A moderate P/E provides some support but is not enough to offset the fundamental and momentum risks.
Positive Factors
Multi-year revenue expansion
Strong revenue expansion across 2022–2024 indicates the lending platform achieved meaningful business growth over multiple years. Although momentum later weakened, the established history of expansion provides a foundation for rebuilding loan growth and revenue when operating conditions improve.
Negative Factors
Unstable cash generation
The sharp swings in operating and free cash flow indicate inconsistent conversion of reported earnings into cash. A return to materially negative cash flow can increase dependence on external funding and make it harder to sustain lending growth during weaker operating periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue expansion
Strong revenue expansion across 2022–2024 indicates the lending platform achieved meaningful business growth over multiple years. Although momentum later weakened, the established history of expansion provides a foundation for rebuilding loan growth and revenue when operating conditions improve.
Read all positive factors
Arman Financial Services Limited (ARMANFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.57B
Dividend Yield0.33%
Average Volume (3M)1.79K
Price to Earnings (P/E)15.8
Beta (1Y)1.24
Revenue Growth<0.01%
EPS Growth1773.87%
CountryIN
Employees1,753
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)110.77
Shares Outstanding10,546,332
10 Day Avg. Volume2,224
30 Day Avg. Volume1,794
Financial Highlights & Ratios
PEG Ratio2.92
Price to Book (P/B)1.51
Price to Sales (P/S)2.32
P/FCF Ratio-2.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Arman Financial Services Limited Business Overview & Revenue Model
Company Description
Arman Financial Services Limited, operating in India alongside its subsidiary Namra Finance Limited, functions as a non-banking financial company. The firm's core business involves offering financing solutions for individuals purchasing two- and t...
How the Company Makes Money
ARMANFIN makes money primarily by earning interest income and fees from loans it originates and services. Key revenue streams generally include: (1) Interest income: the spread between the interest the company charges borrowers on microfinance/ret...
Arman Financial Services Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.65B | 6.09B | 6.17B | 5.87B | 3.89B | 2.23B |
| Gross Profit | 3.30B | 2.53B | 2.84B | 2.64B | 1.68B | 957.61M |
| EBITDA | 1.97B | 1.91B | 709.74M | 2.30B | 1.26B | 465.90M |
| Net Income | 1.16B | 566.05M | 520.73M | 1.74B | 938.11M | 317.23M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 27.98B | 22.27B | 26.35B | 20.38B | 12.41B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 4.91B | 4.52B | 5.32B | 4.53B | 1.42B |
| Total Debt | 0.00 | 17.76B | 12.32B | 17.25B | 16.04B | 9.90B |
| Total Liabilities | -9.33B | 18.64B | 13.53B | 18.22B | 16.72B | 10.29B |
| Stockholders Equity | 9.33B | 9.33B | 8.74B | 8.13B | 3.66B | 2.13B |
Cash Flow | ||||||
| Free Cash Flow | 804.08M | -4.80B | 4.67B | -3.05B | -7.20B | -2.82B |
| Operating Cash Flow | 808.79M | -4.76B | 4.93B | -3.02B | -7.18B | -2.81B |
| Investing Cash Flow | 85.94M | -496.80M | -488.04M | 183.80M | -126.16M | -19.68M |
| Financing Cash Flow | -359.23M | 5.46B | -4.95B | 3.76B | 6.81B | 2.70B |
Arman Financial Services Limited Technical Analysis
Negative
1553.20
Price Trends
1945.58
Negative
1840.55
Negative
1694.70
Positive
Market Momentum
-60.77
Positive
34.78
Neutral
26.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ARMANFIN, the sentiment is Negative. The current price of 1553.2 is below the 20-day moving average (MA) of 1898.29, below the 50-day MA of 1945.58, and below the 200-day MA of 1694.70, indicating a neutral trend. The MACD of -60.77 indicates Positive momentum. The RSI at 34.78 is Neutral, neither overbought nor oversold. The STOCH value of 26.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ARMANFIN.
Arman Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹24.99B | 5.80 | ― | ― | 20.59% | 225.35% | |
63 Neutral | ₹198.87B | 16.55 | ― | 0.76% | 11.47% | 522.19% | |
59 Neutral | ₹73.03B | 29.29 | ― | 0.12% | 22.60% | 21.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹29.71B | 29.79 | ― | ― | 5.19% | ― | |
51 Neutral | ₹18.57B | 15.84 | ― | 0.33% | <0.01% | 1773.87% | |
41 Neutral | ₹19.19B | -5.03 | ― | ― | -46.58% | 78.01% |
* General Sector Average
IN:ARMANFIN
Arman Financial Services Limited
1,740.90
182.80
11.73%
IN:CREDITACC
CreditAccess Grameen Ltd.
1,265.25
-125.80
-9.04%
IN:MUTHOOTMF
Muthoot Microfin Ltd
176.95
6.85
4.03%
IN:PAISALO
Paisalo Digital Ltd.
83.11
45.11
118.69%
IN:SATIN
Satin Creditcare Network Ltd
228.50
79.30
53.15%
IN:SPANDANA
Spandana Sphoorty Financial Ltd.
218.00
-41.40
-15.96%
Arman Financial Services Limited Corporate Events
Arman Financial Services to Join Virtual Investor Conference on September 29
Sep 18, 2026
Arman Financial Services Limited has announced that its officials will participate in a virtual investor conference organized by Arihant Capital on September 29, 2026, for a group meeting with analysts and institutional investors. The company emph...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.