Amrapali Fincap Limited

Financial Services — Capital Markets · BSE

₹46.30₹0.00 (0.00%)

DalalBaazaar Score

48 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment.

In simple words: The business is earning a fairly low return on the money invested in it, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:45 pm

Understanding the Business

Company site ↗

The 60-second version of Amrapali Fincap Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Amrapali Fincap Limited engages in the business of trading in shares, commodities, and futures and options in India. It trades in shares of listed entities, silver, gold, and agri products.

IndustryCapital Markets

SectorFinancial Services

Employees10

Annual revenue₹21 Cr

How does it make money?

Turns over ₹21 Cr a year. Of every ₹100 of sales, about ₹4 reaches shareholders as profit, with ₹4 left at the operating level before interest, tax and depreciation. Each of its 10 employees supports ₹2.06 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹2.06 Cr

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Not assessable from these ratios

For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.

Peer median ROE13.7%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -82% while net margin moved +643% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-82%

Margin effect+643%

DalalBaazaar Score

48/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROE of 0.5% is weak

Quality vs. Valuation

Company Quality

50/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

28/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

79.8x

3Y Median

53.0x

40 monthly readings · mean 109.1x · range 27.5x–212.0x

Sector Median

58.4x

median of 3 sector peers

⚠️Current valuation is approximately 51% above its 3y median of 53.0x. Paying more than usual needs a reason — faster growth, a better balance sheet, or a re-rating you believe in.

⚠️Against its sector it trades 37% above the peer median of 58.4x.

vs. its own history

Expensive

53.0x median over 40 months · +51%

vs. sector peers

Expensive

58.4x median of 3 peers · +37%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

86.2x

PEG

8.22

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 0.6% to 3.5% over 3 years.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention1

Receivables growing faster than sales
Receivables are up 340% against revenue growth of -82% — customers are taking longer to pay.

Red Flags

No automated checks triggered

None of the automated financial checks below were triggered on the years of data available. That is not the same as a clean bill of health — see what could not be checked.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 0.6% to 3.5%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

The price already assumes success
The stock trades 51% above its own median multiple. At this level the business has to deliver just to stand still, and a stumble is repriced twice — lower earnings on a lower multiple.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 2%✓ 3.5%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ 0.5%
For a lender this is the cleanest single read on whether the book is being grown profitably.
3Valuation vs its own median of 53.0x✗ 79.8x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

3 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✗ Not trading at an extreme valuation (P/E < 40x)
✗ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 3 neutral · 5 weak

Market Cap

₹62 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

79.8x

Expensive

Expensive — verify against sector peers

P/B Ratio

0.41x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.58

Profitable

Profitable on a per-share basis

ROE

0.5%

Weak

Weak capital efficiency

ROCE

0.4%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

-32.3%

Shrinking

Sales are contracting

Profit Growth (YoY)

1266.7%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹3 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

ROA

0.5%

Weak

Assets generate little profit

Operating Margin

2.4%

Weak

Thin margins leave little room for error

Net Margin

3.7%

Average

Average bottom-line conversion

Current Ratio

115.14

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.05

Defensive

Steadier than the market

52W Range Position

100%

Near high

Near its 52-week high

Technical Snapshot

SMA 20 / SMA 50

39.0 / 34.0

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

95.9

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹116 Cr	₹2 Cr	₹27 Cr	₹21 Cr	-43.8%
EBITDA	₹1 Cr	₹0 Cr	₹1 Cr	₹1 Cr	+2.6%
EBITDA Margin	0.6%	10.9%	2.5%	3.5%	—
PAT (Net Profit)	₹1 Cr	₹0 Cr	₹0 Cr	₹1 Cr	+9.7%
EPS	₹0.44	₹0.06	₹0.24	—	—
ROE	0.4%	0.1%	0.2%	0.5%	—
ROCE	0.4%	0.1%	0.4%	0.4%	—
Free Cash Flow	-₹78,353 Cr	-₹1 Cr	-₹1 Cr	-₹3 Cr	—

🔴 Revenue has shrunk at 43.8% a year over 3 years.

🟢 EBITDA has grown at 2.6% a year over 3 years.

🟢 EBITDA Margin has risen from 0.6% to 3.5% over 3 years (+2.9 pts).

🟢 PAT (Net Profit) has grown at 9.7% a year over 3 years.

🟡 ROE has held roughly flat at 0.5% over 3 years.

🟡 ROCE has held roughly flat at 0.4% over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹150 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹2 Cr

Capex

-₹1 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

92.0%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC LIFE INS CO LTD	58.4x	11.3%
SBI LIFE INSURANCE CO LTD	63.9x	13.7%

Recent News

6 general

Compare with

Equitymaster, 15 Oct

Amrapali Fincap appoints Urshita Patel as additional independent director

scanx.trade, 13 Oct

Amrapali Fincap Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 30 Aug

Amrapali Fincap Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 31 Aug

Amrapali Fincap Limited Submits SEBI Compliance Certificate for Q4FY26

scanx.trade, 15 Apr

Amrapali Fincap Limited Share Price

Upstox, 20 Mar

Watch Items

Revenue growth is negative (-32.3%) on the latest reported period — check if this is one-off or a trend.
Trading very close to its 52-week high — momentum-driven entries here carry more mean-reversion risk.
This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongFinancial Health

WeakBusiness Quality · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you.

2 of 3 tripwires tripped — Return on equity stays above 8%; Valuation vs its own median of 53.0x · see Key things to watch ↑