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Aye Finance

AYE NSE
₹134.77 +1.96 (+1.48%)
P/E
11.02
View as Markdown
MCP
Close 4 Nov 2026 ₹134.77 +5.86 +4.55% since 16 Feb 2026
Start ₹128.91

Key Fundamentals

MicrocapFinanceFinancial Services

Price-based figures as of · EPS basis: Standalone · TTM

Debt to Equity
2.19
EPS (TTM)
₹12.23
Book Value
₹109.20
Market Cap
—
P/E (TTM)
11.02
P/B
1.23
ROE
9.24%
Dividend Yield
0.00%
52W High
₹197.29
52W Low
₹88.22
Day Range
₹131.70 – ₹136.65
Volume
3,69,159
ROCE
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet
EBITDA
Not meaningful for a lender: the ratio describes an industrial company’s balance sheet

Peer Comparison

Financial Services › NBFC › Non Banking Financial Company (NBFC)

Aye Finance peer comparison
Bajaj Finance
₹994.0028.53₹6,11,015 Cr5.020.62%18.20%—₹90,331 Cr₹22,067 Cr
Shriram Finance
₹908.7515.19₹2,13,704 Cr1.920.73%16.40%—₹51,877 Cr₹12,688 Cr
Cholamandalam Investment
₹1,658.0024.45₹1,42,243 Cr4.100.12%19.40%—₹32,663 Cr₹5,751 Cr
Tata Capital
₹337.7526.24₹1,41,036 Cr2.930.17%12.40%—₹32,695 Cr₹5,478 Cr
Muthoot Finance
₹2,709.809.57₹1,04,354 Cr2.481.19%30.90%—₹33,431 Cr₹11,457 Cr
L&T Finance
₹263.7020.75₹63,912 Cr2.261.09%11.20%—₹18,898 Cr₹3,198 Cr
SBI Cards
₹553.0023.14₹52,160 Cr3.060.47%14.70%—₹20,063 Cr₹2,275 Cr
Aye Finance (this company)
₹134.7711.02₹3,291 Cr1.230.00%9.24%—₹1,950 Cr₹290 Cr
Median 8 companies₹730.8821.95₹1,22,695 Cr2.710.54%15.55%—₹32,679 Cr₹5,615 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 62.9% CAGR over last 5 years

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.7% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish973
OscillatorsNeutral252
Moving AveragesStrong Bearish721

Key readings

RSI (14)
34.85
Neutral
MACD (12,26,9)
−9.60
Bearish
SMA (50)
163.02
Bearish
SMA (200)
—
Neutral

As of

Analyst Rating

Based on 3 analysts
BUY100%

3 of 3 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
3
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
5Y+29.67%
3Y+42.82%
1Y+24.32%
TTM+20.91%

Net profit

Net profit growth by window
5Y+62.73%
3Y+53.16%
1Y+13.45%
TTM+123.08%

Operating cash flow

Not meaningful

A bank's or NBFC's operating cash flow moves with deposits and loans, so its growth says little about the business.

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹495 Cr
Mar 2022₹432 Cr
Mar 2023₹623 Cr
Mar 2024₹1,040 Cr
Mar 2025₹1,460 Cr
Mar 2026₹1,815 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹17.00 Cr
Mar 2022−₹46.00 Cr
Mar 2023₹54.00 Cr
Mar 2024₹161 Cr
Mar 2025₹171 Cr
Mar 2026₹194 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹15.27 +56.9% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Aye Finance Ltd is a micro-enterprise focused NBFC with a market cap of ₹4,122 Cr, trading at a PE of 16.8x and PB of 1.57x. The company has demonstrated strong revenue growth at a 42% CAGR over three years and profit growth of 53% CAGR over the same period, though its return on equity remains modest at around 9-12% and it pays no dividend.

Bull Case 7
  • Strong 5-year compounded profit growth of 63% CAGR indicates rapid earnings scale-up from a growing loan book
  • 3-year compounded sales growth of 42% CAGR reflects robust demand for micro-enterprise lending and successful geographic expansion
  • TTM revenue growth of 23% shows continued top-line momentum even on a larger base
  • PE ratio of 16.8x is relatively moderate for a high-growth financial services company in the NBFC space
  • Price-to-book of 1.57x suggests the stock is not excessively priced relative to net asset value for a growing lender
  • 3-year ROE of 12% shows an improving trend compared to the 5-year average of 9%, indicating better capital utilization over time
  • 5-year compounded profit CAGR of 62.9% demonstrates sustained ability to convert loan growth into bottom-line earnings
Bear Case 8
  • Low interest coverage ratio signals vulnerability to rising funding costs or asset quality deterioration in stress scenarios
  • 3-year ROE of only 11.7% is below typical expectations for high-growth NBFCs, suggesting capital efficiency challenges
  • Zero dividend yield despite repeated profitability indicates shareholders receive no income return on their investment
  • Last year ROE dropped to 9% from the 3-year average of 12%, indicating declining return on equity in the most recent period
  • TTM profit growth of only 13% versus 3-year CAGR of 53% shows a marked deceleration in earnings momentum
  • Micro-enterprise lending segment carries inherently higher credit risk with borrowers who often lack formal financial documentation
  • Sales growth decelerated from 42% (3-year CAGR) to 23% TTM, suggesting the pace of AUM expansion may be slowing
  • No 52-week high/low data and limited stock CAGR history suggest relatively limited secondary market trading history and liquidity considerations

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

96d ago

TL;DR: Aye Finance is firing on all cylinders with 144% profit growth, improving asset quality (GNPA at 4.49%), and strong 28% AUM expansion driven by robust disbursements and customer acquisition. The A+ rating upgrade and ₹4,000 crore NCD approval provide a solid funding runway. No material headwinds are visible in recent news. The trend is clearly improving, with aggressive 5-year growth targets suggesting continued momentum if credit quality holds.

Positives 5
  • Net profit surges 144% YoY Jul 31

    Q1FY27 net profit jumped 144% YoY to ₹75 crore on lower credit costs, with record disbursements of ₹1,219 crore and credit rating upgraded to A+ from India Ratings.

  • AUM grows 28% to ₹7,329 Cr Jul 7

    AUM rose 28% YoY to ₹7,329 crore in Q1FY27, with new borrower additions surging 38% to 44,736 and collection efficiency at 99.2%.

  • Asset quality improves, GNPA falls Jul 31

    Gross NPA declined to 4.49% with a 20 bps sequential improvement, reflecting better credit quality across the micro-enterprise loan book.

Neutral 3
  • ₹200 Cr NCD private placement Jul 20

    WALCO meeting on July 23, 2026 to approve issuing NCDs worth up to ₹200 crore on a private placement basis.

  • 12.63 lakh ESOP options granted Jul 20

    Approved granting 12,63,280 options under ESOP 2024 at 95% of closing price on grant date to eligible employees.

  • Q1FY27 earnings call scheduled Jul 15

    Earnings conference call held on July 23, 2026 to discuss business strategy and outlook post Q1FY27 results.

Quarterly Results

₹ Cr
AYE quarterly results, ₹ crore
Particulars Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue
361
409
405
437
443
515
477
514
Expenses
219
240
242
266
253
279
256
260
Financing Profit
27
46
37
38
49
102
91
110
Fin. Margin %
7%
11%
9%
9%
11%
20%
19%
21%
Other Income
9
11
9
10
12
17
12
13
Interest
115
123
126
133
141
135
131
145
Depreciation
6
6
5
6
7
8
6
6
PBT
30
50
41
42
54
111
97
116
Tax %
25%
19%
25%
17%
21%
23%
23%
25%
Net Profit
23
41
31
35
43
86
74
87
EPS (₹)
1.19
2.12
1.6
1.8
2.22
3.48
3.02
3.51
Gross NPA %
3.79%
—
—
—
—
—
—
—
Net NPA %
1.31%
—
—
—
—
—
—
—

Profit & Loss

₹ Cr
AYE profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
495
432
623
1,040
1,460
1,815
1,950
Expenses
230
341
361
500
786
1,051
1,048
Financing Profit
28
−69
63
211
202
225
351
Fin. Margin %
6%
−16%
10%
20%
14%
12%
18%
Other Income
4
12
20
31
45
48
54
Interest
236
160
199
329
472
539
550
Depreciation
9
10
11
15
22
26
28
PBT
23
−67
71
228
225
247
378
Tax %
27%
−32%
25%
29%
24%
22%
—
Net Profit
17
−46
54
161
171
194
290
EPS (₹)
6.98
−18.89
22.23
66.58
8.93
7.85
12.23
Div. Payout %
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
AYE balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
4
4
4
4
38
49
49
Reserves
716
676
738
1,196
1,621
2,484
2,646
Borrowing
1,363
1,570
2,347
3,558
4,555
5,065
5,905
Other Liabilities
43
66
51
114
125
175
174
Total Liabilities
2,127
2,316
3,140
4,873
6,338
7,773
8,774
Fixed Assets
27
27
27
32
41
62
61
CWIP
0
0
0
3
4
0
0
Investments
198
155
84
11
42
158
223
Other Assets
1,902
2,134
3,028
4,828
6,252
7,553
8,489
Total Assets
2,127
2,316
3,140
4,873
6,338
7,773
8,774

Cash Flow

₹ Cr
AYE cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
125
−279
−720
−1,323
−812
−1,355
Investing
−190
46
78
83
−39
−125
Financing
72
207
762
1,494
1,255
1,169
Net Cash Flow
7
−27
120
254
405
−311
Free Cash Flow
122
−285
−724
−1,334
−829
−1,366

Ratios

AYE financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
2%
−7%
8%
17%
12%
9%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Aye Finance insights

57 extracted metrics across FY16–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 57.39%
  • DIIs 23.33%
  • FIIs 18.55%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Aye Finance

What does Aye Finance Ltd do?
Incorporated in 1993, Aye Finance Limited is an NBFC offers secured and unsecured small business loans for working capital, including mortgage loans, Property Loans, secured and unsecured hypothecation loans, primarily to micro-scale MSMEs.
Where is Aye Finance Ltd (AYE) listed?
Aye Finance Ltd trades as AYE on the NSE and under code 544699 on the BSE.
Which sector does Aye Finance Ltd belong to?
Aye Finance Ltd is classified under the Financial Services sector, in the NBFC industry.
What is the PE ratio of Aye Finance Ltd?
Aye Finance Ltd trades at a PE ratio of 11.02 as of 4 Nov 2026, on earnings per share of ₹12.23, against a book value of ₹109.2 per share.
What is the 52-week high and low of Aye Finance Ltd?
Over the last 52 weeks Aye Finance Ltd has traded between ₹88.22 and ₹197.29 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Aye Finance Ltd?
Aye Finance Ltd reported a return on equity of 9.24%. Its debt-to-equity ratio is 2.19.

Company Information

Incorporated in 1993, Aye Finance Limited is an NBFC offers secured and unsecured small business loans for working capital, including mortgage loans, Property Loans, secured and unsecured hypothecation loans, primarily to micro-scale MSMEs.

Website ayefin.com
Listed 16 Feb 2026
Face Value ₹2

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