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Stock Analysis

Description

Poonawalla Fincorp Limited is a non-deposit taking NBFC focused on consumer and MSME financing, leveraging a strong AI-first strategy and expanding its distribution network for scalable growth.

Key Growth Triggers

Aspiration for 35-40% CAGR AUM growth over the next few years.
Expansion of physical branch network (targeting 400 by March 2026) and dealer network (targeting 12,000+ by March 2026).
Deepening customer engagement through a diversified product portfolio and an AI-first approach to enhance operations and customer experience.
Planned capital raises (QIP and NCDs) to support future growth initiatives.

Order Book

Currently no data available for Order Book.

Key Red Flags

The company maintains a relatively high leverage ratio, with Debt to Equity at 4.25x as of December 2025.
Ongoing investments in new businesses and technology may impact operating expenses in the short term, although management anticipates stabilization by Q4FY26.

Key Dates To Watch

Q3 FY26 Results announcement and investor call held on January 16, 2026.

Corporate Announcements

13th Apr 26

Impact Rating: 9

Poonawalla Fincorp successfully completed its QIP, raising ₹2,500 crore (~USD 270 million) to fuel growth and expand lending operations. The issue saw strong participation from investors.

13th Apr 26

Impact Rating: 9

Poonawalla Fincorp announced the completion of its Qualified Institutions Placement (QIP) on April 13, 2026, allotting 67,430,883 shares for ₹25,000 million.

13th Apr 26

Impact Rating: 9

Poonawalla Fincorp's QIP closed on April 13, 2026, with shares issued at ₹370.75 each (a 5% discount to floor price). The company allocated 67,430,883 equity shares to qualified institutional buyers.

10th Apr 26

Impact Rating: 5

Poonawalla Fincorp Limited has fulfilled its SEBI compliance obligations by submitting confirmation certificates for the period January 1 to March 31, 2026. These confirm dematerialisation and listing of its equity shares and NCDs.

10th Apr 26

Impact Rating: 8

Kotak Mahindra Mutual Fund has acquired equity shares of Poonawalla Fincorp Limited through its schemes, taking its total holding to over 5.00% of the company's issued share capital.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Bajaj Finance	950.25	32.30	591197.59	0.46	4947.76	21.89	20178.90	18.06	11.35	76194.74	68.48	18301.08	4875.36	5.73	3.99	3.85
2.	Shriram Finance	995.45	21.45	187896.03	0.99	2314.16	12.22	11912.44	18.07	10.95	45601.30	72.59	8760.03	2314.22	3.09	3.04	3.87
3.	Muthoot Finance	3936.10	21.64	158038.06	0.66	2411.65	90.36	7282.79	47.76	13.19	24544.40	75.96	7303.69	2420.63	4.82	4.67	3.76
4.	Tata Capital	359.35	41.43	152474.92	0.00	1118.97	2.01	7737.18	7.69	9.58	28323.85	71.64	3658.33	1097.32	–	1.72	5.88
5.	Cholaman.Inv.&Fn	1699.20	30.87	143389.94	0.12	1159.61	19.82	7491.38	19.76	10.34	28536.73	69.18	4645.19	1159.61	5.51	2.38	7.23
6.	SBI Cards	839.65	41.65	79889.76	0.30	444.77	9.98	4960.98	12.21	10.40	19130.54	27.49	1918.14	444.77	5.40	3.10	3.33
7.	L&T Finance Ltd	296.40	26.21	74200.78	0.93	737.99	21.10	4578.27	11.73	8.71	17196.51	61.14	2830.66	758.55	2.81	2.37	3.72
8.	Poonawalla Fin	463.95	107.97	37717.94	0.00	150.22	702.03	1818.42	72.03	4.77	5840.94	50.07	349.35	150.22	3.84	-0.35	3.66
–	Median: 96 Co.	130.93	21.55	490.94	0.0	7.23	12.07	41.0	12.68	8.91	166.22	56.43	17.7	6.24	1.93	3.04	0.78

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	149	143	152	194	207	178	241	272	1,260	632	615	662	784
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	26	18	4	14	1,228	11	7	18	8	0	7	0	0
Profit before tax	174	201	237	268	1,529	357	385	390	-630	25	80	83	99
Tax %	25%	25%	24%	25%	18%	26%	14%	25%	-25%	26%	22%	25%	25%
Net Profit	130	150	181	200	1,259	265	332	292	-471	19	62	63	74
EPS in Rs	1.70	1.97	2.35	2.61	16.38	3.45	4.28	3.76	-6.06	0.24	0.80	0.80	0.91

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	–	–	–	–	–	–	–	–	–	–	–	–	–
Expenses	609	774	836	1,025	800	797	989	1,723	623	607	817	2,778	2,917
Operating Profit	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Income	20	15	19	34	35	34	41	28	30	-162	-1,457	33	8
Interest	1,055	1,061	998	943	1,013	1,018	1,124	875	509	595	955	1,515	2,381
Depreciation	33	35	39	48	49	50	72	52	49	61	59	65	88
Profit before tax	178	175	266	11	237	403	34	-773	385	767	2,539	-135	463
Net Profit	136	149	187	6	201	275	-10	-578	293	585	2,056	-98	349
EPS in Rs	7.13	7.83	7.90	0.26	8.49	10.22	-0.37	-21.45	3.83	7.62	26.54	-1.26	4.36
Dividend Payout %	11%	10%	10%	311%	9%	8%	0%	0%	10%	26%	8%	0%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	38	38	47	47	47	54	54	54	153	154	154	155	161
Reserves	1,226	1,345	1,984	1,990	1,763	2,502	2,461	1,888	5,562	6,271	7,962	7,969	9,661
Borrowings	–	–	–	–	–	–	–	–	–	–	–	–	–
Other Liabilities	1,105	1,107	1,039	891	659	682	380	451	322	388	704	774	1,102
Total Liabilities	11,318	12,312	12,909	11,419	13,568	14,988	12,955	10,342	12,810	18,022	24,036	34,979	46,909
Fixed Assets	157	195	202	211	191	184	221	171	174	207	194	244	323
Gross Block	273.17	342.26	377.48	428.23	219.10	243.59	316.07	300.43	298.48	349.76	299.15	383.00	–
Accumulated Depreciation	116.13	146.91	175.95	217.28	28.04	60.03	94.87	129.05	124.08	142.55	104.95	139.20	–
CWIP	25	8	12	5	1	4	6	0	0	5	0	10	0
Investments	321	241	458	580	306	302	402	429	820	510	878	1,342	1,656
Other Assets	10,815	11,867	12,237	10,623	13,070	14,498	12,326	9,742	11,815	17,300	22,963	33,383	44,930
Total Assets	11,318	12,312	12,909	11,419	13,568	14,988	12,955	10,342	12,810	18,022	24,036	34,979	46,909

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,260	83	714	2,406	211	-584	1,661	2,088	-1,649	-3,900	-6,986	-10,569
Cash from Investing Activity	-76	22	-244	-180	-36	-77	-241	93	-525	-177	2,993	-482
Cash from Financing Activity	-1,696	-201	-498	-2,301	-209	1,135	-1,782	-2,120	2,244	4,344	3,647	10,821
Net Cash Flow	-512	-96	-28	-75	-34	475	-363	60	70	266	-346	-231

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	–	–	–	–	–	–	–	–	–	–	–	–
Inventory Days	–	–	–	–	–	–	–	–	–	–	–	–
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	–	–	–	–	–	–	–	–	–	–	–	–
Working Capital Days	–	–	–	–	–	–	–	–	–	–	–	–
ROCE %	–	–	–	–	–	–	–	–	–	–	–	–

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	62.05%	62.14%	62.12%	62.10%	62.07%	62.13%	62.09%	61.87%	62.36%	62.53%	62.46%	63.96%	63.95%
FIIs	7.30%	7.13%	7.18%	7.91%	7.79%	7.76%	7.85%	7.72%	8.19%	9.99%	10.76%	10.56%	10.61%
DIIs	4.46%	6.12%	7.99%	6.94%	5.58%	5.81%	6.77%	9.63%	11.82%	11.12%	12.26%	12.28%	12.22%
Public	26.18%	24.61%	22.71%	23.06%	24.57%	23.79%	22.64%	20.12%	16.98%	15.71%	13.86%	12.58%	12.62%