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Fusion Finance

FUSION NSE
₹134.70 down 0.49 (0.36%)
Market Cap
₹2,181 Cr
P/E
12.90

Fusion Finance (FUSION) share price was ₹135.19 at the 28 Oct 2026 close; market capitalisation ₹2,189 Cr; P/E (TTM) 12.95; sector Financial Services. The share price fell 26.5% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 3.6% year on year to ₹458 Cr and net profit was ₹62 Cr, against −₹92 Cr a year earlier (compared with Jun 2025). Promoters held 51.76% of Fusion Finance in Sep 2026, down 2.20 percentage points from Jun 2026. Its Tapetide Score is 40/100 (Weak) as of 28 Oct 2026.

Close 28 Oct 2026 ₹135.19 −49.79 −26.92% 1Y

Key Fundamentals

MicrocapFinanceFinancial Services
Market Cap
₹2,181 Cr
P/E (TTM)
12.9
EBITDA
₹485 Cr
Return on Equity
0.56%
Debt to Equity
2.92
Book Value
₹151.71
EPS (TTM)
₹10.44
52W High
₹243.00
52W Low
₹131.49

Price-based figures as of 29 Oct 2026, 10:55 IST · EPS basis: Standalone · TTM

Peer Comparison

Financial Services › Microfinance › Microfinance Institutions

CreditAccess Grameen
₹1,031.6010.4216,556 Cr1.860.99%9.92%9.35%6,779 Cr1,587 Cr
Satin Creditcare
₹235.606.352,603 Cr0.910.00%11.59%12.85%3,218 Cr410 Cr
Muthoot Microfin
₹140.589.772,397 Cr0.840.00%5.97%8.68%2,492 Cr245 Cr
Fusion Finance (this company)
₹134.7012.902,181 Cr0.890.00%0.56%5.93%1,745 Cr168 Cr
Spandana Sphoorty Financial
₹190.30——0.930.00%-32.83%-6.87%1,066 Cr-327 Cr
Median 5 companies₹190.3010.102,500 Cr0.910.00%5.97%8.68%2,492 Cr245 Cr

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

Tapetide Score

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

40 Weak
Overall score

Data confidence 94/100

Category scores

Quality Weak 42
Returns, margins, earnings quality 22% weight
Valuation Good 63
Cheap vs sector & own history 24% weight
Growth Poor 17
Sales & profit trajectory 9% weight
Financial Health Poor 33
Solvency, leverage, coverage 9% weight
Momentum Poor 8
Trend strength, vol-adjusted 12% weight
Ownership Weak 38
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

Oscillators

Bullish

Bearish
2
Neutral
2
Bullish
5

Overall

Bearish

Bearish
12
Neutral
2
Bullish
5

Moving Averages

Bearish

Bearish
10
Neutral
0
Bullish
0

Analyst Rating

Based on 7 analysts
BUY57%

4 of 7 analysts rate Buy, 3 Hold, 0 Sell.

Updated 29 Oct 2026

BUY
4
57.1%
HOLD
3
42.9%
SELL
0
0%

Growth Rate

Revenue Growth
-26.86% lower than 3Y

change over 1 year

Net Income Growth
-101% lower than 3Y

change over 1 year

Cash Flow Change
-20.83%

change over 1 year

EBITDA Margin Change
-339%

change over 1 year

Analyst Forecasts

Forecast For
FY27 consensus · EPS
₹21 +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 7
  • 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
  • Price-to-book ratio of 1.52x is relatively modest for a financial services company, suggesting limited downside from book value
  • 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

114d ago
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.

  • BRSR filed for FY26 Jun 30

    Filed BRSR for FY26 reporting 12,021 employees and 5,896 customer grievances during the year.

  • FY26 shareholding disclosure Jun 20

    Annual shareholding patterns disclosed for FY26 with promoters confirming no new share encumbrances.

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.

Quarterly Results

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%
Figures in ₹ Crores

Profit & Loss

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%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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
Figures in ₹ Crores

Ratios

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

68 extracted metrics + investor summaries across FY18–FY27.

Shareholding Pattern

FIIs5.29%Promot.51.76%Others8.71%DIIs15.10%Public19.14%As ofSep 2026

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[1]
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 market capitalisation of Fusion Finance Ltd?
Fusion Finance Ltd has a market capitalisation of ₹2,181 Cr as of 29 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Fusion Finance Ltd?
Fusion Finance Ltd trades at a PE ratio of 12.90 as of 29 Oct 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 ₹131.49 and ₹243 as of 29 Oct 2026.
What is the Return on Equity (ROE) of Fusion Finance Ltd?
Fusion Finance Ltd reported a return on equity of 0.56%. Its debt-to-equity ratio is 2.92.

Company Information

Incorporated in 1994, Fusion Finance Ltd is primarily engaged in microfinance lending activities[1]

Website fusionmicrofinance.com
CEO Mr. Sanjay Garyali
Employees 15,274
Listed 2022-11-15
Face Value ₹ 10
Shares Outstanding 16,19,11,840

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