---
title: "Usha Financial Services Ltd (USHAFIN) — Share Price, Financials & Analysis"
symbol: "USHAFIN"
company: "Usha Financial Services Ltd"
canonical: "https://tapetide.com/stocks/USHAFIN"
isin: "INE0LS001014"
nse_symbol: "USHAFIN"
sector: "Financial Services"
industry: "Finance"
market_cap_cr: 217.38
generated_at: "2026-09-13T19:36:58.967Z"
---

# Usha Financial Services Ltd (USHAFIN)

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

## Company

- **NSE Symbol:** USHAFIN
- **ISIN:** INE0LS001014
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2024-10-31
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ushafinancial.com

## About

Incorporated in May 1995, Usha Financial Services Limited is a non-banking finance company providing lending solutions to other NBFCs, corporates, MSMEs, and individuals, particularly women entrepreneurs.[1]

## Latest Price

- **Price:** ₹50
- **Change:** 0 (0%)
- **Open:** ₹48.7
- **Day High:** ₹50
- **Day Low:** ₹48.7
- **Previous Close:** ₹50
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:37:24.442318Z.

- **Market Cap:** ₹217.38 Cr
- **Classification:** SME
- **P/E (reported):** 8.6
- **P/E (TTM):** 8.62
- **EPS (TTM):** ₹5.8
- **Book Value:** ₹52.83
- **Price to Book:** 0.95
- **Dividend Yield:** 0%
- **ROE:** 9.78%
- **ROCE:** 13.35%
- **Debt to Equity:** 1.15
- **Revenue (yearly):** ₹71.3 Cr
- **Net Income:** ₹22.5 Cr
- **EBITDA:** ₹55.5 Cr
- **52-Week High:** ₹56.45
- **52-Week Low:** ₹26.75
- **RSI (14):** 59.59

## Tapetide Score

- **Score:** 65 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 96.7 (of 4473 scored stocks)
- **Confidence:** 94%
- **Data coverage:** 88%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 44.56 | 9% |
| growth | 54.21 | 9% |
| momentum | 98.9 | 12% |
| ownership | 40.95 | 24% |
| quality | 80.83 | 22% |
| valuation | 65.51 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.95 times its book value
- Company has delivered good profit growth of 42.2% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.3% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 116.15% | -78.54% | 143.59% |
| ebitda margin growth | 15.17% | 11.61% | 5.75% | 21.41% |
| net income growth | 21.21% | 69.17% | 30% | 42% |
| revenue growth | 14.69% | 16.89% | 16% | 22% |
| roce | — | 25.23% | -45.69% | 16.24% |
| roe | — | 52.81% | 9.41% | 12.54% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 13.58 | 16.56 | 16.94 | 17.38 | 16.93 | 19.18 | 17.63 | 20.26 |
| Expenses | 2.39 | 3.65 | 8.7 | 3.84 | 5.27 | 3.52 | 3.16 | 3.6 |
| Financing Profit | 5.65 | 6.05 | 1.92 | 7.49 | 5.68 | 9.62 | 9.16 | 11.2 |
| Financing Margin % | 41.61 | 36.53 | 11.33 | 43.1 | 33.55 | 50.16 | 51.96 | 55.28 |
| Other Income | 0 | 0.04 | 0 | 0.04 | 0.04 | 0.04 | 0.06 | 0.05 |
| Interest | 5.54 | 6.86 | 6.32 | 6.05 | 5.98 | 6.04 | 5.31 | 5.46 |
| Depreciation | 0.08 | 0.08 | 0.31 | 0.39 | 0.4 | 0.4 | 0.39 | 0.47 |
| Profit before tax | 5.57 | 6.01 | 1.61 | 7.14 | 5.32 | 9.26 | 8.83 | 10.78 |
| Tax % | 24.78 | 24.29 | 38.51 | 25.07 | 25.38 | 28.83 | 25.82 | 25.51 |
| Net Profit | 4.19 | 4.55 | 0.98 | 5.35 | 3.98 | 6.59 | 6.55 | 8.03 |
| EPS in Rs | 1.32 | 1.05 | 0.23 | 1.23 | 0.92 | 1.52 | 1.51 | 1.85 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue | 52 | 26 | 25 | 46 | 64 | 61 | 71 | 74 |
| Expenses | 16 | 10 | 9 | 11 | 17 | 18 | 16 | 16 |
| Financing Profit | 16 | 5 | 6 | 14 | 17 | 18 | 32 | 36 |
| Financing Margin % | 31 | 21 | 23 | 30 | 27 | 30 | 45 | 48 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 20 | 11 | 10 | 22 | 30 | 24 | 23 | 23 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit before tax | 15 | 5 | 5 | 14 | 17 | 18 | 31 | 34 |
| Tax % | 26 | 22 | 24 | 26 | 25 | 24 | 26 | — |
| Net Profit | 11 | 4 | 4 | 10 | 13 | 13 | 22 | 25 |
| EPS in Rs | — | — | — | — | 6.03 | 3.07 | 5.17 | 5.8 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 6 | 6 | 7 | 9 | 11 | 22 | 43 |
| Reserves | 33 | 37 | 41 | 73 | 95 | 187 | 186 |
| Borrowing | 148 | 63 | 97 | 248 | 181 | 185 | 176 |
| Other Liabilities | 67 | 11 | 19 | 43 | 49 | 37 | 24 |
| Total Liabilities | 254 | 117 | 164 | 372 | 336 | 431 | 430 |
| Fixed Assets | 1 | 1 | 1 | 0 | 7 | 23 | 23 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Investments | 0 | 2 | 2 | 0 | 0 | 0 | 7 |
| Other Assets | 253 | 114 | 161 | 372 | 327 | 408 | 400 |
| Total Assets | 254 | 117 | 164 | 372 | 336 | 431 | 430 |

### 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 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -27 | -8 | -35 | -177 | 71 | -95 | 15 |
| Cash from Investing Activity | 0 | -2 | 0 | 2 | -8 | -2 | -8 |
| Cash from Financing Activity | 54 | -17 | 35 | 175 | -56 | 95 | -11 |
| Net Cash Flow | 28 | -27 | 0 | -1 | 8 | -2 | -3 |
| Free Cash Flow | -27 | -8 | -35 | -177 | 63 | -100 | 13 |
| CFO/OP | -70 | -43 | -205 | -492 | 162 | -212 | 39 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ROE % | 29 | 9 | 9 | 16 | 13 | 8 | 10 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 74.54% | 74.48% | 74.97% | 74.97% | 74.97% |
| FIIs | 5.63% | 3.56% | 2.75% | 2.16% | 1.98% |
| DIIs | 0.05% | 0% | 0.56% | 0.56% | 0.57% |
| Government | 0% | 0% | 0% | 0% | 0% |
| Public | 12.2% | 12.01% | 13.25% | 14.25% | 14.5% |
| Others | 7.59% | 9.95% | 8.47% | 8.05% | 7.99% |
| No. of Shareholders | 1987 | 1837 | 1764 | 1739 | 1691 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 50.86 | Sell |
| EMA (10) | 50.45 | Sell |
| SMA (20) | 47.48 | Buy |
| EMA (20) | 47.86 | Buy |
| SMA (50) | 40.63 | Buy |
| EMA (50) | 42.67 | Buy |
| SMA (100) | 36.72 | Buy |
| EMA (100) | 39.22 | Buy |
| SMA (200) | 36.43 | Buy |
| EMA (200) | 38.08 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 59.59 | Neutral |
| MACD (12,26,9) | 3.43 | Buy |
| Stochastic (14,3,3) | 61.44 | Neutral |
| ADX (14) | 35.8 | Buy |
| Williams %R (14) | -49.62 | Neutral |
| ATR (14) | 2.69 | High Volatility |
| ROC (12) | 8.7 | Buy |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 69.85 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Usha Financial held its 30th AGM on September 9, 2026, including NCD issuance up to Rs. 200 crore. | [Shareholders meeting 9 Sep - Usha Financial held its 30th AGM on September 9, 2026, including NCD issuance up to Rs. 200 crore.](https://nsearchives.nseindia.com/corporate/USHAFIN_09092026190136_USHAFIN_AGM_Proceeding_09092026_Final.pdf) |
| 9 February 2026 - Published unaudited standalone results for quarter/YTD ended 31‑Dec‑2025: total income Rs1,918.14 lakh, PAT Rs653.79 lakh (09‑Feb‑2026) | [Copy of Newspaper Publication 9 February 2026 - Published unaudited standalone results for quarter/YTD ended 31‑Dec‑2025: total income Rs1,918.14 lakh, PAT Rs653.79 lakh (09‑Feb‑2026)](https://nsearchives.nseindia.com/corporate/USHAFIN_09022026131630_USHAFIN_Newspaper_Publication.pdf) |
| 7 February 2026 - Q3 (ended Dec 31, 2025): PAT Rs.658.79L; Total income Rs.1,921.89L; 9,178 loans disbursed. | [Press Release 7 February 2026 - Q3 (ended Dec 31, 2025): PAT Rs.658.79L; Total income Rs.1,921.89L; 9,178 loans disbursed.](https://nsearchives.nseindia.com/corporate/USHAFIN_07022026190153_USHAFIN_December_2025.pdf) |
| 7 February 2026 - Issued 1,200 secured 12% NCDs of Rs100,000 each (Rs12 crore), 4-year tenor, monthly interest. | [Issue of Securities 7 February 2026 - Issued 1,200 secured 12% NCDs of Rs100,000 each (Rs12 crore), 4-year tenor, monthly interest.](https://nsearchives.nseindia.com/corporate/USHAFIN_07022026190808_Reg_30_Issue_of_NCDs_Series_P.pdf) |
| 7 February 2026 - Exercising call to redeem Series J 12% NCDs (Rs1 lakh each); repay tranches on March 06, 2026. | [General Updates 7 February 2026 - Exercising call to redeem Series J 12% NCDs (Rs1 lakh each); repay tranches on March 06, 2026.](https://nsearchives.nseindia.com/corporate/USHAFIN_07022026190436_Reg_30_excercise_call_option_Series_J.pdf) |
| 7 Aug - Trading window closed for designated persons till August 14, 2026; board meeting on August 12, 2026. | [Trading Window 7 Aug - Trading window closed for designated persons till August 14, 2026; board meeting on August 12, 2026.](https://nsearchives.nseindia.com/corporate/USHAFIN_07082026180947_UFSL_Trading_Window_Closure_Intimation_June_26_Revision.pdf) |
| 7 April 2026 - Promoter group reported no encumbrance on shares for FY2025-26, holding 74.96% stake. | [Updates 7 April 2026 - Promoter group reported no encumbrance on shares for FY2025-26, holding 74.96% stake.](https://nsearchives.nseindia.com/corporate/USHAFIN_07042026160547_UFSL_Declaration_reg_31_4__Without_PAN.pdf) |
| 5 June 2026 - Promoter group disclosed no encumbrance on shares for FY 2025-26 under SEBI SAST Regulation 31(4). | [Disclosure under SEBI Takeover Regulations 5 June 2026 - Promoter group disclosed no encumbrance on shares for FY 2025-26 under SEBI SAST Regulation 31(4).](https://nsearchives.nseindia.com/corporate/team_bbodade_22052026161504_USHAFIN.pdf) |
| 5 Aug - Mr. Pankaj Jain ceases as Independent Director and committee chair from August 6, 2026. | [Cessation 5 Aug - Mr. Pankaj Jain ceases as Independent Director and committee chair from August 6, 2026.](https://nsearchives.nseindia.com/corporate/USHAFIN_05082026185222_USHAFIN_Regulation_30_05082026.pdf) |
| 31 Aug - Usha Financial Services launched debt consolidation product on 31 August 2026 for domestic market. | [Product launch 31 Aug - Usha Financial Services launched debt consolidation product on 31 August 2026 for domestic market.](https://nsearchives.nseindia.com/corporate/USHAFIN_31082026190057_Regulation_30_Debt_consolidation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30325_USHAFIN_2025_2026_A_9779516_13082026164235.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28631_USHAFIN_2024_2025_A_4170977_05092025183350.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 2026-09-13T19:36:58.967Z.