Unlisted Shares
Arohan Financial Services Limited
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Arohan Financial Services Limited
Arohan Financial Services Limited is one of the largest NBFC-MFIs in Eastern India and the fifth largest in India by Gross Loan Portfolio. Established in 2006, Arohan focuses on financial inclusion by providing microloans primarily to low-income women in rural and semi-urban areas. The company follows a strong operational framework with emphasis on responsible lending, high recovery rates, and sustainable growth.
Share Details
| company Name | Arohan Financial Services Limited |
| indicative Unlisted Share Price | ₹35 |
| market Capitalization | ₹3734 Crore |
| lot Size | 100 |
| 52 Week High | ₹260 |
| 52 Week Low | ₹225 |
| face Value | ₹10 |
| book Value | ₹128.05 |
| pe Ratio | 33.96 |
| pb Ratio | 1.84 |
| debt To Equity | 2.13 |
| return On Equity | 5.43 |
| total Outstanding Shares | 1,58,91,2300 |
| isin | INE808K01017 |
| depository | NSDL & CDSL |
| pan | AAECA6121D |
| cin | U74140WB1991PLC053189 |
| rta | Link Intime India Private Limited |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Interest Earned | 858 | 930.96 | 1,380 | 1,581 |
| Other Income | 62 | 160.02 | 254 | 114 |
| Interest Expended | 402 | 468.64 | 592 | 632 |
| Operating Expenses | 294 | 334.98 | 451 | 527 |
| Provisions & Contingencies | 136 | 192.64 | 179 | 389 |
| Profit After Tax (PAT) | 61 | 70.71 | 314 | 110 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Advances (₹ Cr) | 3,710 | 4,782.21 | 6,616 | 5,705 |
| Book Value (₹) | 85.25 | 88.98 | 121.62 | 127.43 |
| P/B Ratio | 2.17 | 2.08 | 1.52 | 2.04 |
| ROE (%) | 5.96 | 5.28 | 16.4 | 5.43 |
| Gross NPA (%) | 4.5 | 2.8 | 1.64 | 2.77 |
| Net NPA (%) | 1.32 | 0.21 | 0 | 0.47 |
| EPS (₹) | 5.08 | 4.7 | 19.95 | 6.92 |
Financial Annual Report Summary
Strong growth in loan portfolio (Advances) and Interest Earned. PAT peaked in FY24 at ₹314 Cr. Asset quality remains healthy with low Net NPA. Company maintains stable profitability in the competitive microfinance sector.
Why Invest in Arohan Financial Services
- Consistent growth in loan book and interest income.
- Peak profitability in FY24; moderated in FY25 due to higher provisions.
- Excellent asset quality with near-zero Net NPA in FY24.
- Stable book value growth reflecting strong capital position.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 4 | 5.3 | 11 | 13 |
| Cash and Balances | 1,308 | 556.56 | 1,268 | 673 |
| Investments | 0 | 78.77 | 90 | 363 |
| Advances | 3,710 | 4,782.21 | 6,616 | 5,705 |
| Other Assets | 207 | 595.3 | 130 | 132 |
| Total Assets | 5,229 | 6,018.14 | 8,115 | 6,886 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 120 | 150.38 | 157.41 | 158.9 |
| Reserves | 903 | 1,187.63 | 1,757 | 1,866 |
| Borrowings | 3,694 | 3,809.36 | 5,617 | 4,304 |
| Other Liabilities | 512 | 870.77 | 583.59 | 557.1 |
| Total Liabilities | 5,229 | 6,018.14 | 8,115 | 6,886 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
Loan portfolio (Advances) is the largest asset. Cash balance remains healthy. Borrowings increased in line with portfolio growth.
Liabilities Breakdown
Borrowings stood at ₹4304 Cr in FY25. Debt to Equity ratio around 2.13, typical for NBFC-MFI operations.
Additional Insights
Strong and consistent growth in book value. Well-capitalized balance sheet with controlled leverage for the microfinance sector.
Cash Flow Insights
- Negative operating cash flow in FY23–24 due to rapid loan book expansion.
- Strong positive operating cash flow in FY25.
- Financing activities reflect heavy borrowing to support growth.
Shareholding Pattern
Recent
Promoter: High
Institutional: Moderate
Public: Low
Promoters & Management
Professionally managed NBFC-MFI with experienced leadership in microfinance.
Key Management
Professional Leadership Team - Management
Microfinance & NBFC Sector
Registrar & Transfer Agent (RTA)
Registrar: Link Intime India Private Limited
Website: https://www.linkintime.co.in/
Management Analysis
Focus on responsible lending, maintaining high recovery rates, asset quality control, and sustainable expansion while serving underserved markets.
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