Aye Finance
Aye Finance
Financial ServicesKey Fundamentals
MicrocapNBFCFinancial ServicesTapetide Score
Data-driven rating, 0–100. How it works →
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.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 44d agoAye 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.
- 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
- 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
anthropic claude-opus-4.6 44d ago- 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.
- Targets ₹24,000 Cr AUM in 5Y Jul 21
Management guided for 25-30% AUM growth in FY27 and aims to reach ₹24,000 crore AUM within five years from current ₹7,044 crore in FY26.
- ₹4,000 Cr NCD fundraise approved Jul 22
Board approved raising up to ₹4,000 crore via NCDs in tranches over a year, strengthening the liability franchise for growth funding.
- ₹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.
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.
Quarterly Results
| Particulars | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 361 | 409 | 405 | 437 | 443 | 515 | 477 |
| Expenses | 219 | 240 | 242 | 266 | 253 | 279 | 256 |
| Financing Profit | 27 | 46 | 37 | 38 | 49 | 102 | 91 |
| Fin. Margin % | 7% | 11% | 9% | 9% | 11% | 20% | 19% |
| Other Income | 9 | 11 | 9 | 10 | 12 | 17 | 12 |
| Interest | 115 | 123 | 126 | 133 | 141 | 135 | 131 |
| Depreciation | 6 | 6 | 5 | 6 | 7 | 8 | 6 |
| PBT | 30 | 50 | 41 | 42 | 54 | 111 | 97 |
| Tax % | 25% | 19% | 25% | 17% | 21% | 23% | 23% |
| Net Profit | 23 | 41 | 31 | 35 | 43 | 86 | 74 |
| EPS in Rs | 1.19 | 2.12 | 1.6 | 1.8 | 2.22 | 3.48 | 3.02 |
| Gross NPA % | 3.79% | — | — | — | — | — | — |
| Net NPA % | 1.31% | — | — | — | — | — | — |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | 495 | 432 | 623 | 1,040 | 1,460 | 1,815 | 1,872 |
| Expenses | 230 | 341 | 361 | 500 | 786 | 1,051 | 1,054 |
| Financing Profit | 28 | -69 | 63 | 211 | 202 | 225 | 279 |
| Fin. Margin % | 6% | -16% | 10% | 20% | 14% | 12% | 15% |
| Other Income | 4 | 12 | 20 | 31 | 45 | 48 | 52 |
| Interest | 236 | 160 | 199 | 329 | 472 | 539 | 538 |
| Depreciation | 9 | 10 | 11 | 15 | 22 | 26 | 27 |
| PBT | 23 | -67 | 71 | 228 | 225 | 247 | 304 |
| Tax % | 27% | -32% | 25% | 29% | 24% | 22% | — |
| Net Profit | 17 | -46 | 54 | 161 | 171 | 194 | 238 |
| EPS in Rs | 34.97 | -94.65 | 111 | 334 | 8.93 | 7.85 | 10.52 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 38 | 49 |
| Reserves | 716 | 676 | 738 | 1,196 | 1,621 | 2,484 |
| Borrowing | 1,363 | 1,570 | 2,347 | 3,558 | 4,555 | 5,065 |
| Other Liabilities | 43 | 66 | 51 | 114 | 125 | 175 |
| Total Liabilities | 2,127 | 2,316 | 3,140 | 4,873 | 6,338 | 7,773 |
| Fixed Assets | 27 | 27 | 27 | 32 | 41 | 62 |
| CWIP | 0 | 0 | 0 | 3 | 4 | 0 |
| Investments | 198 | 155 | 84 | 11 | 42 | 158 |
| Other Assets | 1,902 | 2,134 | 3,028 | 4,828 | 6,252 | 7,553 |
| Total Assets | 2,127 | 2,316 | 3,140 | 4,873 | 6,338 | 7,773 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
| CFO/OP | 50 | -306 | -271 | -231 | -110 | -171 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| ROE % | 2% | -7% | 8% | 17% | 12% | 9% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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41 extracted metrics + investor summaries across FY21–FY27.
Documents
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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.[1]
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