---
title: "Capital First Ltd(Merged) (CAPF) — Share Price, Financials & Analysis"
symbol: "CAPF"
company: "Capital First Ltd(Merged)"
canonical: "https://tapetide.com/stocks/CAPF"
isin: "INE688I01017"
nse_symbol: "CAPF"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T18:57:08.345Z"
---

# Capital First Ltd(Merged) (CAPF)

Canonical page: https://tapetide.com/stocks/CAPF

## Company

- **NSE Symbol:** CAPF
- **ISIN:** INE688I01017
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** DELISTED
- **Listed Since:** 2008-02-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** capfirst.com

## About

Capital First received a Certificate of Registration from the Reserve Bank of India (RBI) on April 10, 2006 to commence / carry on the business of Non-Banking Financial Institution (NBFC) without accepting public deposits.

## Latest Price

## Key Insights

### Strengths

- Company is expected to give good quarter
- Company has delivered good profit growth of 43.2% CAGR over last 5 years

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of 12.0% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 71% | 42% | 43% |
| revenue growth | 43% | 38% | 36% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 496 | 558 | 616 | 682 | 726 | 749 | 757 | 782 | 988 | 1094 | 1045 | 1197 |
| Expenses | 192 | 232 | 268 | 305 | 331 | 363 | 358 | 409 | 499 | 560 | 436 | 525 |
| Operating Profit | 304 | 327 | 348 | 377 | 395 | 386 | 399 | 372 | 488 | 534 | 609 | 672 |
| OPM % | 61 | 58 | 57 | 55 | 54 | 52 | 53 | 48 | 49 | 49 | 58 | 56 |
| Other Income | 1 | 0 | 6 | 9 | 10 | 7 | 12 | 14 | 8 | 11 | 10 | 6 |
| Interest | 235 | 252 | 276 | 296 | 308 | 280 | 309 | 328 | 357 | 393 | 453 | 508 |
| Depreciation | 3 | 3 | 3 | 5 | 4 | 5 | 6 | 7 | 6 | 9 | 6 | 12 |
| Profit before tax | 68 | 71 | 75 | 84 | 93 | 108 | 96 | 51 | 134 | 143 | 159 | 158 |
| Tax % | 34 | 34 | 35 | 32 | 34 | 34 | 32 | 41 | 35 | 33 | 36 | 34 |
| Net Profit | 45 | 48 | 49 | 58 | 61 | 71 | 65 | 30 | 87 | 95 | 102 | 105 |
| EPS in Rs | 4.88 | 5.21 | 5.38 | 6.24 | 6.3 | 7.27 | 6.69 | 3.09 | 8.79 | 9.62 | 10.25 | 10.55 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 236 | 360 | 740 | 807 | 1061 | 1442 | 1889 | 2800 | 3812 | 4324 |
| Expenses | 97 | 124 | 188 | 279 | 350 | 480 | 729 | 1265 | 1908 | 2021 |
| Operating Profit | 140 | 235 | 552 | 528 | 711 | 962 | 1160 | 1535 | 1904 | 2303 |
| OPM % | 59 | 65 | 75 | 65 | 67 | 67 | 61 | 55 | 50 | 53 |
| Other Income | 13 | 42 | 3 | 34 | 0 | 1 | -2 | -2 | 0 | 35 |
| Interest | 81 | 189 | 398 | 483 | 647 | 788 | 897 | 1161 | 1382 | 1710 |
| Depreciation | 12 | 4 | 5 | 6 | 6 | 10 | 10 | 17 | 28 | 34 |
| Profit before tax | 60 | 84 | 152 | 73 | 58 | 165 | 251 | 356 | 493 | 594 |
| Tax % | 2 | 41 | 30 | 14 | 10 | 31 | 34 | 33 | 34 | — |
| Net Profit | 59 | 49 | 106 | 63 | 53 | 114 | 166 | 239 | 327 | 388 |
| EPS in Rs | 9.33 | 7.58 | 16.33 | 8.89 | 6.37 | 12.56 | 18.22 | 24.53 | 33.07 | 39.21 |
| Dividend Payout % | 11 | 20 | 9 | 20 | 31 | 18 | 13 | 11 | 8 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 64 | 64 | 65 | 64 | 70 | 82 | 91 | 91 | 97 | 99 |
| Reserves | 604 | 628 | 683 | 767 | 890 | 1090 | 1483 | 1612 | 2206 | 2519 |
| Borrowings | 473 | 1175 | 2371 | 4386 | 6230 | 8422 | 8437 | 11955 | 14108 | 21702 |
| Other Liabilities | 84 | 115 | 521 | 473 | 344 | 538 | 671 | 867 | 1243 | 1848 |
| Total Liabilities | 1225 | 1981 | 3640 | 5692 | 7535 | 10132 | 10682 | 14525 | 17655 | 26168 |
| Fixed Assets | 104 | 89 | 20 | 37 | 39 | 34 | 19 | 29 | 65 | 83 |
| CWIP | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 12 |
| Investments | 547 | 309 | 330 | 333 | 1 | 347 | 194 | 184 | 259 | 332 |
| Other Assets | 574 | 1583 | 3290 | 5318 | 7495 | 9751 | 10469 | 14312 | 17332 | 25740 |
| Total Assets | 1225 | 1981 | 3640 | 5692 | 7535 | 10132 | 10682 | 14525 | 17655 | 26168 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 27 | 8 | -10 | -7 | 11 |
| Cash from Investing Activity | 0 | -8 | -4 | -7 | -2 | -3 |
| Cash from Financing Activity | 0 | 19 | 12 | 0 | 8 | -8 |
| Net Cash Flow | 0 | 38 | 16 | -16 | 0 | 0 |

### Ratios

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 30 | 61 | 17 | 7 | 18 | 3 | 3 | 5 | 8 | 6 |
| Cash Conversion Cycle | 30 | 61 | 17 | 7 | 18 | 3 | 3 | 5 | 8 | 6 |
| Working Capital Days | 980 | 2209 | 527 | 768 | 829 | 707 | 514 | 730 | 661 | 654 |
| ROCE % | 1 | 10 | 11 | 13 | 9 | 8 | 10 | 10 | 10 | 9 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Sep 2018 |
| --- | --- | --- | --- |
| Promoters | 61.06% | 35.55% | 35.52% |
| FIIs | 8.42% | 19.55% | 19.92% |
| DIIs | 6.24% | 15.53% | 10.51% |
| Government | 0% | 0.03% | 0% |
| Public | 24.28% | 29.33% | 34.04% |
| No. of Shareholders | 120639 | 135724 | 139594 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 65.11% | 64.42% | 61.09% | 61.06% | 36% | 35.97% | 35.58% | 35.55% | 35.53% | 35.52% |
| FIIs | 7.54% | 7.27% | 6.51% | 8.42% | 25.69% | 24.31% | 24% | 19.55% | 19.55% | 19.92% |
| DIIs | 7.57% | 6.5% | 5.78% | 6.24% | 10.9% | 13.14% | 12.35% | 15.53% | 12.74% | 10.51% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0.03% | 0.03% | 0% | 0% |
| Public | 19.79% | 21.81% | 26.62% | 24.28% | 27.41% | 26.59% | 28.04% | 29.33% | 32.18% | 34.04% |
| No. of Shareholders | 116891 | 120513 | 123702 | 120639 | 124494 | 125533 | 129718 | 135724 | 140430 | 139594 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.57 | Sell |
| EMA (10) | 0.57 | Sell |
| SMA (20) | 0.6 | Sell |
| EMA (20) | 0.58 | Sell |
| SMA (50) | 0.61 | Sell |
| EMA (50) | 0.62 | Sell |
| SMA (100) | 0.67 | Sell |
| EMA (100) | 0.67 | Sell |
| SMA (200) | 0.81 | Sell |
| EMA (200) | 0.83 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 36.25 | Neutral |
| MACD (12,26,9) | -0.02 | Sell |
| Stochastic (14,3,3) | 25.76 | Neutral |
| ADX (14) | 33.04 | Buy |
| Williams %R (14) | -72.73 | Neutral |
| ATR (14) | 0.03 | High Volatility |
| ROC (12) | -9.84 | Sell |
| Stoch RSI (14) | 30.18 | Neutral |
| UO (7,14,28) | 39.68 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 17 Dec 2018 - We have made timely payment of interest obligations on December 17, 2018 in respect of the Non- Convertible Debentures (INE688I08111). | [NCD - Interest Paid Intimation 17 Dec 2018 - We have made timely payment of interest obligations on December 17, 2018 in respect of the Non- Convertible Debentures (INE688I08111).](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b5aa5766-9b12-4b36-b1fe-5ab1c575c7dc.pdf) |
| 17 Dec 2018 - We have made timely payment of interest obligations on December 17, 2018 in respect of the Non- Convertible Debentures (INE688I08111). | [NCD - Interest Paid Intimation 17 Dec 2018 - We have made timely payment of interest obligations on December 17, 2018 in respect of the Non- Convertible Debentures (INE688I08111).](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/12/b5aa5766-9b12-4b36-b1fe-5ab1c575c7dc.pdf) |
| 16 Feb - Copies of Un-audited standalone financial results of the company for the Third quarter and Nine months ended on December 31, 2025 published in following Newspapers … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Feb - Copies of Un-audited standalone financial results of the company for the Third quarter and Nine months ended on December 31, 2025 published in following Newspapers …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/57edb817-0cdb-45bf-a2cf-4b65558572b4.pdf) |
| 14 Feb - Board approved Q3 and nine-month unaudited results to Dec 31, 2025; limited review unqualified; vendor payments ratified. | [Board Meeting Outcome for Outcome Of Board Meeting Held On Saturday, February 14, 2026 As Required Under Regulation 30 Of SEBI (LODR) Regulations, 2015 14 Feb - Board approved Q3 and nine-month unaudited results to Dec 31, 2025; limited review unqualified; vendor payments ratified.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b3c7a52b-113d-4a98-969c-05719dd0afd8.pdf) |
| 14 Dec 2018 - We, Capital First Limited, a public limited company having its registered office at One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, … | [NCD - Interest Payment Intimation 14 Dec 2018 - We, Capital First Limited, a public limited company having its registered office at One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=12795975-a816-4593-8730-7c642f0b90e7.pdf) |
| 14 Dec 2018 - Capital First Limited, a public limited company having its registered office at One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, Lower … | [NCD - Interest Payment Intimation 14 Dec 2018 - Capital First Limited, a public limited company having its registered office at One Indiabulls Centre, Tower 2A & 2B, 10th Floor, Senapati Bapat Marg, Lower …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/12/12795975-a816-4593-8730-7c642f0b90e7.pdf) |
| 10 Feb - Board meeting Feb 14, 2026 to approve unaudited standalone results for quarter ended Dec 31, 2025. | [Board Meeting Intimation for Considering And Approving The Unaudited Standalone Financial Results Of The Company For The Third Quarter Ended On December 31, 2025 Along With The Limited Review Report 10 Feb - Board meeting Feb 14, 2026 to approve unaudited standalone results for quarter ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/25ec5028-c3db-4ea4-adf7-a9d6bb015d3b.pdf) |
| — | [Unaudited Standalone Financial Results Along With The Limited Review Report For The Period Ended On December 31, 2025 14 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/05f709d5-51e4-4183-9edc-07eb475803eb.pdf) |
| — | [Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 11 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/137E0CC0_E735_4449_A145_269D23DEB6D8_172921.pdf) |
| — | [Fixes Record Date for Scheme of Amalgamation 20 Dec 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=26323025_7560_4B31_A39C_26D808AB8457_180120.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_FCH_2009_2010_18082010121500.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e8713f8f-9e67-45e1-9a5e-d802a43b8a09.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/efd84526-a967-42eb-88a9-7b3b84ecf7bd.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9e4aed8e-077f-463d-b8ee-3472d5888ff9.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/543298/76207543298.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/543298/71989543298.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532938/5329380318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532938/5329380317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532938/5329380316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532938/5329380315.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bd767e36-9ceb-485a-bd0a-540dc25bc011.pdf) |
| Oct 2018 | [Concall - Oct 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/10/bd767e36-9ceb-485a-bd0a-540dc25bc011.pdf) |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=161223a0-a20c-426d-bdb7-7498f92253b9.pdf) |
| Nov 2017 | [Concall - Nov 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/11/161223a0-a20c-426d-bdb7-7498f92253b9.pdf) |
| Nov 2016 | [Concall - Nov 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=61F2ED47_A2DB_4611_AC2C_6758493EE9BC_171327.pdf) |
| May 2018 | [Concall - May 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8a498a7e-93ed-4213-b369-0928a9e3abec.pdf) |
| May 2018 | [Concall - May 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/5/8a498a7e-93ed-4213-b369-0928a9e3abec.pdf) |
| May 2017 | [Concall - May 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d16dd06-456c-42a2-9d3f-9935734d15c4.pdf) |
| May 2017 | [Concall - May 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/5/3d16dd06-456c-42a2-9d3f-9935734d15c4.pdf) |
| Jan 2018 | [Concall - Jan 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6dac16e1-b9be-45fc-b708-88a68b840003.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:57:08.345Z.