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Fusion Finance

FUSION NSE
₹153.54

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P/E
14.71
View as Markdown
MCP
Close 4 Nov 2026 ₹153.54 −17.87 −10.4% 1Y
Start ₹171.41

Key Fundamentals

MicrocapFinanceFinancial Services

Price-based figures at the close · EPS basis: Standalone · TTM

Debt to Equity
2.27
EPS (TTM)
₹10.44
Book Value
₹151.71
Market Cap
—
P/E (TTM)
14.71
P/B
1.01
ROE
0.68%
Dividend Yield
0.00%
52W High
₹243.00
52W Low
₹126.81
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

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 94/100

Category scores

Quality
42
Weak
Returns, margins, earnings quality 22% weight
Valuation
60
Good
Cheap vs sector & own history 24% weight
Growth
17
Poor
Sales & profit trajectory 9% weight
Financial Health
35
Poor
Solvency, leverage, coverage 9% weight
Momentum
14
Poor
Trend strength, vol-adjusted 12% weight
Ownership
38
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 1.08 times its book value

Weaknesses

3
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -0.58%
  • Company has a low return on equity of -10.2% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
49.36
Neutral
MACD (12,26,9)
−9.82
Bullish
SMA (50)
172.71
Bearish
SMA (200)
183.17
Bearish

As of

Analyst Rating

Based on 7 analysts
BUY71%

5 of 7 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
5
71%
HOLD
2
29%
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 Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+14.69%
3Y−0.83%
1Y−27.52%
TTM−18.08%

Net profit

Net profit growth by window
5Y−20.47%
3Y−66.93%
1YTurned to profit
TTMTurned to profit

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 2018₹266 Cr
Mar 2019₹494 Cr
Mar 2020₹720 Cr
Mar 2021₹856 Cr
Mar 2022₹1,151 Cr
Mar 2023₹1,742 Cr
Mar 2024₹2,317 Cr
Mar 2025₹2,344 Cr
Mar 2026₹1,699 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2018−₹39.00 Cr
Mar 2019₹51.00 Cr
Mar 2020₹70.00 Cr
Mar 2021₹44.00 Cr
Mar 2022₹22.00 Cr
Mar 2023₹387 Cr
Mar 2024₹505 Cr
Mar 2025−₹1,225 Cr
Mar 2026₹14.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹21.00 +1979.2% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Fusion Finance Ltd is a financial services company with a market cap of ₹3,626 Cr trading at a PE of 267.8x. The company has shown a TTM profit growth of 101% but continues to face challenges with negative 3-year ROE of -10% and a TTM revenue decline of -28%.

Bull Case 6
  • TTM compounded profit growth of 101% indicates a sharp turnaround from prior losses
  • Last year ROE turned positive at 1% after 3-year average of -10%, signaling potential inflection point
  • 5-year compounded sales CAGR of 15% demonstrates longer-term revenue growth capability
  • Stock has delivered 18% return over the past 1 year, reflecting improving market sentiment
  • Company has moved from deeply negative profitability (3-year profit CAGR of -67%) to positive TTM profit growth of 101%, showing operational recovery
  • 5-year compounded profit CAGR of -21% is less severe than 3-year CAGR of -67%, suggesting the worst period of losses may be behind
Bear Case 8
  • PE ratio of 267.8x is extremely elevated, implying the stock is priced for a dramatic earnings recovery that may not materialize
  • 3-year average ROE of -10.2% indicates sustained destruction of shareholder value over a multi-year period
  • TTM revenue decline of -28% shows the core business is contracting significantly
  • Low interest coverage ratio raises concerns about the company's ability to service its debt obligations
  • Promoter holding decreased by 0.38% in the last quarter, signaling potential lack of insider confidence
  • Zero dividend yield means shareholders rely entirely on capital appreciation with no income cushion
  • 3-year stock CAGR of -26% reflects prolonged wealth erosion for longer-term investors
  • 3-year compounded profit CAGR of -67% demonstrates a severe and extended earnings deterioration

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

AI News Digest

121d ago

TL;DR: Fusion Finance's recent news flow is entirely routine and compliance-driven, with no material positive catalysts or emerging risks. The promoter reclassification of 1.77% stake is cosmetic and does not signal any change in control. The 5,896 customer grievances reported in BRSR bear monitoring but lack context on resolution rates. Overall, the stock is in a quiet phase with no clear directional trigger from recent disclosures.

Neutral 5
  • Promoters reclassified to public Jul 3

    NSE and BSE approved reclassification of 21 promoter entities holding 28.67 lakh shares (1.77% of shareholding) to public category.

  • Investor meetings in Mumbai Jun 16

    Fusion Finance scheduled analyst and investor meetings for June 23-24, 2026, in Mumbai conducted in-person.

  • AGM set for July 22 Jun 30

    32nd AGM scheduled for July 22, 2026, via video conferencing to cover FY 2025-26 financial results and routine business.

Quarterly Results

₹ Cr
FUSION quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
531
547
593
646
688
692
474
466
442
401
416
424
458
Expenses
208
213
243
286
532
884
773
458
387
318
284
258
244
Financing Profit
140
143
149
145
−67
−420
−513
−171
−93
−52
9
33
64
Fin. Margin %
26%
26%
25%
22%
−10%
−61%
−108%
−37%
−21%
−13%
2%
8%
14%
Other Income
22
25
20
29
18
12
9
10
3
32
8
6
0
Interest
183
191
201
215
223
227
214
179
149
134
123
132
150
Depreciation
2
2
2
3
2
3
3
3
2
2
2
2
2
PBT
159
166
166
172
−51
−410
−508
−165
−92
−22
14
37
62
Tax %
24%
24%
24%
23%
−30%
−26%
42%
0%
0%
0%
0%
−205%
0%
Net Profit
120
126
126
133
−36
−305
−719
−165
−92
−22
14
114
62
EPS (₹)
7.46
7.75
7.8
8.19
−2.2
−18.82
−44.38
−10.15
−5.69
−1.37
0.87
7.08
3.86
Gross NPA %
3.2%
2.68%
3.04%
2.89%
5.46%
9.41%
12.58%
7.92%
5.43%
4.61%
4.38%
3.21%
2.51%
Net NPA %
0.78%
0.65%
0.77%
0.77%
1.25%
2.41%
1.71%
0.3%
0.19%
0.38%
0.63%
0.51%
0.47%

Profit & Loss

₹ Cr
FUSION profit and loss, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
266
494
720
856
1,151
1,742
2,317
2,344
1,699
1,699
Expenses
182
172
290
437
676
638
949
2,646
1,247
1,105
Financing Profit
−53
68
93
43
−20
461
577
−1,146
−87
55
Fin. Margin %
−20%
14%
13%
5%
−2%
26%
25%
−49%
−5%
3%
Other Income
1
3
10
17
50
58
96
25
34
46
Interest
137
254
338
375
496
643
791
844
539
540
Depreciation
2
2
3
4
5
7
9
12
10
9
PBT
−54
68
100
57
24
512
663
−1,133
−63
92
Tax %
−26%
26%
30%
23%
11%
24%
24%
8%
−122%
—
Net Profit
−39
51
70
44
22
387
505
−1,225
14
169
EPS (₹)
−5.7
4.81
5.14
3.25
1.61
23.97
31.17
−75.54
0.86
10.44
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
FUSION balance sheet, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
41
62
79
79
83
100
101
101
162
Reserves
214
564
1,120
1,167
1,255
2,222
2,748
1,543
2,294
Borrowing
1,608
2,929
2,974
4,432
5,776
6,778
8,616
6,402
5,571
Other Liabilities
106
56
67
159
177
263
310
247
268
Total Liabilities
1,968
3,611
4,240
5,838
7,290
9,364
11,774
8,293
8,295
Fixed Assets
5
6
6
18
19
21
31
27
26
CWIP
0
0
0
0
0
0
2
2
19
Investments
0
0
0
0
0
0
2
2
2
Other Assets
1,963
3,604
4,233
5,820
7,271
9,342
11,739
8,261
8,248
Total Assets
1,968
3,611
4,240
5,838
7,290
9,364
11,774
8,293
8,295

Cash Flow

₹ Cr
FUSION cash flow, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−597
−1,418
−749
−793
−1,641
−1,663
−1,350
1,448
1,146
Investing
184
15
20
10
18
18
31
74
12
Financing
741
1,631
545
1,459
1,418
1,584
1,843
−2,214
−67
Net Cash Flow
329
229
−184
676
−204
−61
524
−692
1,092
Free Cash Flow
−599
−1,421
−753
−801
−1,647
−1,671
−1,370
1,441
1,128
CFO/OP
−708
−433
−164
−177
−336
−140
−89
−489
254

Ratios

FUSION financial ratios, annual
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %
−15%
12%
8%
4%
2%
21%
20%
−55%
1%

Insights

Beta

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

Log in to view Fusion Finance insights

53 extracted metrics across FY18–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.76%
  • Public 27.03%
  • DIIs 15.10%
  • FIIs 5.29%

No promoter shares pledged as of Sep 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 Fusion Finance

What does Fusion Finance Ltd do?
Incorporated in 1994, Fusion Finance Ltd is primarily engaged in microfinance lending activities
Where is Fusion Finance Ltd (FUSION) listed?
Fusion Finance Ltd trades as FUSION on the NSE and under code 543652 on the BSE.
Which sector does Fusion Finance Ltd belong to?
Fusion Finance Ltd is classified under the Financial Services sector, in the Microfinance industry.
What is the PE ratio of Fusion Finance Ltd?
Fusion Finance Ltd trades at a PE ratio of 14.71 as of 4 Nov 2026, on earnings per share of ₹10.44, against a book value of ₹151.71 per share.
What is the 52-week high and low of Fusion Finance Ltd?
Over the last 52 weeks Fusion Finance Ltd has traded between ₹126.81 and ₹243 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Fusion Finance Ltd?
Fusion Finance Ltd reported a return on equity of 0.68%. Its debt-to-equity ratio is 2.27.

Company Information

Incorporated in 1994, Fusion Finance Ltd is primarily engaged in microfinance lending activities

Website fusionmicrofinance.com
CEO Mr. Sanjay Garyali
Employees 15,274
Listed 15 Nov 2022
Face Value ₹10

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