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Viji Finance Ltd.
(VIJIFIN)
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Rating:57Neutral
Price Target:
₹17.50
▲(87.57% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by mixed fundamentals: strong FY2026 profitability and improved leverage are offset by weak multi-year cash flow conversion (the biggest risk). Technicals are supportive via strong trend versus moving averages but are heavily overbought, increasing near-term downside risk. Valuation is a headwind given the high P/E and no dividend yield support.
Positive Factors
Revenue and Margin Rebound
The FY2026 rebound demonstrates strong recent operating performance, with substantial revenue expansion and high reported margins. If maintained, this combination can improve earnings capacity, support internal funding of growth, and strengthen the company’s position in financial services over the next several quarters.
Negative Factors
Weak Cash Conversion
Several consecutive years of negative operating and free cash flow show that accounting profits have not consistently converted into usable cash. This weakens confidence in earnings quality, limits internally funded expansion, and leaves working-capital or reinvestment dynamics as a material ongoing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Rebound
The FY2026 rebound demonstrates strong recent operating performance, with substantial revenue expansion and high reported margins. If maintained, this combination can improve earnings capacity, support internal funding of growth, and strengthen the company’s position in financial services over the next several quarters.
Read all positive factors
Viji Finance Ltd. (VIJIFIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.01B
Dividend Yield0.26%
Average Volume (3M)251.87K
Price to Earnings (P/E)55.7
Beta (1Y)-0.54
Revenue Growth117.76%
EPS GrowthN/A
CountryIN
Employees3
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)0.28
Shares Outstanding191,500,000
10 Day Avg. Volume391,005
30 Day Avg. Volume251,866
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.74
Price to Sales (P/S)7.78
P/FCF Ratio0.00
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
Viji Finance Ltd. Business Overview & Revenue Model
Company Description
Viji Finance Limited, a non-banking finance company, provides financial products and services in India. It offers personal and business loans, gold loans, corporate finance, infrastructure/project finance, and personal finance services. Viji Finan...
Viji Finance Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
74
Positive
Cash Flow
35
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 66.45M | 52.37M | 23.25M | 19.25M | 20.84M | 12.20M |
| Gross Profit | 55.54M | 40.59M | 10.38M | 10.23M | 16.97M | 9.74M |
| EBITDA | 49.40M | 29.68M | -377.00K | 5.54M | 10.01M | 5.78M |
| Net Income | 41.28M | 19.75M | 1.69M | 1.20M | 4.33M | 4.40M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 336.54M | 350.54M | 264.82M | 225.54M | 174.63M |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 4.37M | 54.94M | 1.94M | 1.80M | 1.12M |
| Total Debt | 0.00 | 72.49M | 125.97M | 133.58M | 173.86M | 48.33M |
| Total Liabilities | -233.63M | 102.91M | 136.66M | 143.04M | 105.17M | 58.59M |
| Stockholders Equity | 233.63M | 233.63M | 213.88M | 121.75M | 120.37M | 116.04M |
Cash Flow | ||||||
| Free Cash Flow | 9.08M | 0.00 | -29.87M | -28.45M | -44.43M | -16.34M |
| Operating Cash Flow | 9.08M | 21.89M | -28.79M | -28.39M | -24.73M | -10.55M |
| Investing Cash Flow | 0.00 | -18.98M | -1.08M | -61.00K | -19.59M | -5.79M |
| Financing Cash Flow | -10.48M | -53.48M | 82.39M | 28.59M | 45.20M | 11.24M |
Viji Finance Ltd. Technical Analysis
Positive
9.33
Price Trends
11.92
Positive
8.15
Positive
5.41
Positive
Market Momentum
1.27
Positive
64.53
Neutral
11.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VIJIFIN, the sentiment is Positive. The current price of 9.33 is below the 20-day moving average (MA) of 15.19, below the 50-day MA of 11.92, and above the 200-day MA of 5.41, indicating a bullish trend. The MACD of 1.27 indicates Positive momentum. The RSI at 64.53 is Neutral, neither overbought nor oversold. The STOCH value of 11.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VIJIFIN.
Viji Finance Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹1.01B | 0.65 | ― | 3.78% | 17.80% | 20694.21% | |
57 Neutral | ₹3.01B | 55.65 | ― | 0.26% | 117.76% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹838.10M | -1.36 | ― | 0.35% | -50.16% | -325.01% | |
44 Neutral | ₹111.95M | -11.50 | ― | ― | -28.72% | 30.64% | |
44 Neutral | ₹199.14M | -11.21 | ― | ― | -92.80% | -146.71% | |
43 Neutral | ₹513.48M | -0.44 | ― | 0.03% | -64.11% | -38.37% |
* General Sector Average
IN:VIJIFIN
Viji Finance Ltd.
15.41
12.18
377.09%
IN:CAPTRUST
Capital Trust Ltd. (India)
17.91
-11.38
-38.85%
IN:DCMFINSERV
DCM Financial Services Limited
5.32
-0.60
-10.14%
IN:MOTOGENFIN
Motor & General Finance Ltd.
25.10
-1.75
-6.52%
IN:TCIFINANCE
TCI Finance Limited
14.81
1.81
13.92%
IN:TRU
TruCap Finance Limited
4.25
-7.92
-65.08%
Viji Finance Ltd. Corporate Events
Viji Finance discloses resignation of statutory auditor and plans to fill vacancy
Aug 24, 2026
Viji Finance Ltd. has reported a change in its statutory auditors, with Dharmendra K Agarwal Co., Chartered Accountants, resigning from their role effective 22 August 2026. The company disclosed that it received the resignation by email over the ...
Viji Finance Sets E-Voting Timeline for August 13 AGM
Jul 22, 2026
Viji Finance Ltd. has scheduled its 32nd Annual General Meeting for August 13, 2026, at 11:30 a.m., to be conducted via video conferencing and other audio-visual means, with the registered office deemed the venue. The company will use Central Depo...
Viji Finance Calls August 13 AGM, Seeks Big Boost to Authorised Capital
Jul 21, 2026
Viji Finance Ltd. has scheduled its 32nd Annual General Meeting for August 13, 2026, at 11:30 a.m. IST, to be conducted via video conferencing and other audio-visual means in line with MCA and SEBI guidelines. The AGM will consider adoption of the...
Viji Finance strengthens board with new whole-time director and independent director reappointment
Jul 14, 2026
Viji Finance Ltd. has announced board changes in line with SEBI listing regulations, reinforcing its governance structure and compliance framework as a listed non-banking financial company. The moves highlight the ongoing role of board committees ...
Viji Finance Director Sejal Shah Resigns Citing Personal Commitments
Jul 14, 2026
Viji Finance Ltd. has announced the resignation of Mrs. Sejal Riddhesh Shah, who served as an additional non-executive, non-independent director, effective from the close of business on July 14, 2026. The company disclosed that Shah stepped down d...
Viji Finance Revamps Board with New Executive Director and Independent Director Reappointment
Jul 14, 2026
Viji Finance Ltd. has announced the appointment of Mr. Aryaman Kothari as an Additional Director and Whole-Time Director for a three-year term, effective July 14, 2026, subject to shareholder approval. The move follows recommendations from the Aud...
Viji Finance Secures Auditor Nod for Preferential Issue of Convertible Warrants
Jun 20, 2026
Viji Finance Ltd. has submitted a statutory auditor’s certificate under SEBI’s ICDR Regulations, confirming compliance with Regulation 169(4) in relation to a preferential issue of convertible warrants. The certificate verifies that th...
Viji Finance trims preferential issue as it allots 8.85 crore warrants to non-promoters
Jun 16, 2026
Viji Finance Ltd. has approved the allotment of 88.5 million convertible share warrants on a preferential basis to a group of non-promoter investors, following earlier shareholder and stock exchange approvals. The company has received an upfront s...
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.