Apoorva Leasing Finance and Investment Company Limited

Financial Services — Capital Markets · NSE

₹32.00₹0.00 (0.00%)

DalalBaazaar Score

59 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment, falling profits.

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

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:47 pm

Understanding the Business

Company site ↗

The 60-second version of Apoorva Leasing Finance and Investment Company Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Apoorva Leasing Finance and Investment Company Limited engages in the trading in shares in India. The company invests in equity, debentures, bond, mutual funds, etc. It also offers financial and derivative services; and engages in investment activities.

IndustryCapital Markets

SectorFinancial Services

Employees8

Annual revenue₹1 Cr

How does it make money?

Turns over ₹1 Cr a year. Of every ₹100 of sales, about ₹24 reaches shareholders as profit, with ₹82 left at the operating level before interest, tax and depreciation. Each of its 8 employees supports ₹16.9 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹16.9 lakh

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?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved -70% while net margin moved -49% 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-70%

Margin effect-49%

DalalBaazaar Score

59/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 32.7% a year
✗ Profit has declined at 46.1% a year
✗ Latest-year revenue growth of -41.1% is below the longer-term trend — momentum is fading
✗ Profit fell 22.7% in the latest year

Quality vs. Valuation

Company Quality

61/ 100

Average

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

Valuation

32/ 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

213.3x

Sector Median

58.4x

median of 3 sector peers

⚠️Against its sector it trades 265% above the peer median of 58.4x.

vs. its own history

Not enough price and earnings history

vs. sector peers

Expensive

58.4x median of 3 peers · +265%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

57.3x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 64.2% to 82.0% over 3 years.
Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

1 item require attention · 1 watch

🟡Profit is decliningFinancial
Net profit is down 84% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 64.2% to 82.0%. 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?

A premium to the sector to defend
It trades 265% above the peer median. That premium needs a reason that persists, or it closes.
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 80%✓ 82.0%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ 0.2%
For a lender this is the cleanest single read on whether the book is being grown profitably.

Investment Checklist

5 / 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
✓ Manageable leverage (Debt/Equity < 1.0)
✓ 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

Price history

Quick Metrics

4 good · 2 neutral · 5 weak

Market Cap

₹64 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

213.3x

Expensive

Expensive — verify against sector peers

P/B Ratio

0.46x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.15

Profitable

Profitable on a per-share basis

ROE

0.2%

Weak

Weak capital efficiency

ROCE

0.2%

Weak

Low return on total capital employed

Debt/Equity

0.03x

Low

Conservative leverage

Revenue Growth (YoY)

-41.1%

Shrinking

Sales are contracting

Profit Growth (YoY)

-22.7%

Falling

Profits are shrinking

Dividend Yield

None

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

Free Cash Flow

₹13 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

-4.5%

Weak

Thin margins leave little room for error

Net Margin

23.5%

Good

Strong bottom-line conversion

Current Ratio

54.25

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.27

Defensive

Steadier than the market

52W Range Position

69%

Mid-range

Technical Snapshot

RSI (14)

36.4

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹4 Cr	₹4 Cr	₹1 Cr	₹1 Cr	-32.7%
EBITDA	₹3 Cr	₹3 Cr	₹1 Cr	₹1 Cr	-27.0%
EBITDA Margin	64.2%	81.3%	51.7%	82.0%	—
PAT (Net Profit)	₹2 Cr	₹2 Cr	₹0 Cr	₹0 Cr	-46.1%
EPS	₹1.03	₹1.04	₹0.21	₹0.16	-46.2%
ROE	1.4%	1.4%	0.3%	0.2%	—
ROCE	1.8%	1.8%	0.3%	0.2%	—
Total Debt	₹1 Cr	₹0 Cr	₹0 Cr	₹0 Cr	-63.8%
Free Cash Flow	-₹6 Cr	₹21 Cr	₹13 Cr	₹13 Cr	—

🔴 Revenue has shrunk at 32.7% a year over 3 years.

🔴 EBITDA has shrunk at 27.0% a year over 3 years.

🟢 EBITDA Margin has risen from 64.2% to 82.0% over 3 years (+17.8 pts).

🔴 PAT (Net Profit) has shrunk at 46.1% a year over 3 years.

🔴 EPS has shrunk at 46.2% a year over 3 years.

🔴 ROE has fallen from 1.4% to 0.2% over 3 years (-1.2 pts).

🔴 ROCE has fallen from 1.8% to 0.2% over 3 years (-1.6 pts).

🟢 Total Debt has shrunk at 63.8% a year over 3 years.

🟢 Free Cash Flow has turned positive, from -₹6 Cr to ₹13 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹163 Cr

Total Liabilities

₹13 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹13 Cr

Capex

—

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

1 positive5 general

Apoorva Leasing Finance And Investment Company Ltd. Peer Comparison – Compare with Others

Value Research, 31 Aug

Compare with

Equitymaster, 16 Oct

APOORVA Stock Price and Chart — NSE:APOORVA

TradingView, 17 Aug

Apoorva Leasing Finance & Investment Co Ltd is Rated Strong Sell

MarketsMojo, 07 Oct

Apoorva Leasing Finance And Investment Company Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 04 Sept

Knowledge Marine & Engineering Works consolidated net profit rises 447.74% in the June 2026 quarter

Business Standard, 15 AugResults

🟢Potentially positiveReported improvement. Check whether it came from volume, price or a one-off item before treating it as a trend.

Watch Items

Revenue growth is negative (-41.1%) on the latest reported period — check if this is one-off or a trend.
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.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health

MiddlingProfitability · Valuation · Risk

WeakGrowth

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.

1 of 2 tripwires tripped — Return on equity stays above 8% · see Key things to watch ↑