Available Finance Limited

Financial Services — Credit Services · BSE

₹135.00−₹0.65 (−0.48%)

DalalBaazaar Score

64 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it, with modest growth. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

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

What does this company do?

Available Finance Limited, a non-banking financial company, engages in the lending and investment activities in India. The company was formerly known as Flag Finin Limited and changed its name to Available Finance Limited in May 1999.

IndustryCredit Services

SectorFinancial Services

Employees3

Annual revenue₹1 Cr

How does it make money?

Turns over ₹1 Cr a year. Of every ₹100 of sales, about ₹17842 reaches shareholders as profit, with ₹52 left at the operating level before interest, tax and depreciation. Each of its 3 employees supports ₹20.1 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹20.1 lakh

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, STATE BANK OF INDIA, HDFC BANK LTD, ICICI BANK 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 ROE16.5%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +2% while net margin moved -39% 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+2%

Margin effect-39%

DalalBaazaar Score

64/ 100

Good

Weighted across six categories. Every point is explained below.

✗ Revenue CAGR of only 0.7% — barely ahead of inflation
✗ Profit has declined at 14.6% a year

Quality vs. Valuation

Company Quality

60/ 100

Average

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

Valuation

75/ 100

Cheap

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

0.9x

3Y Median

1.5x

40 monthly readings · mean 1.6x · range 0.7x–3.2x

Sector Median

17.0x

median of 4 sector peers

🟢Current valuation is approximately 39% below its 3y median of 1.5x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟢Against its sector it trades 94% below the peer median of 17.0x.

vs. its own history

Cheap

1.5x median over 40 months · -39%

vs. sector peers

Cheap

17.0x median of 4 peers · -94%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

443.2x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention1

Return on equity is falling
ROE has dropped from 18.3% to 8.2% — each rupee of shareholder capital earns less than it did.

Red Flags

1 item require attention · 1 watch

🟡Profit is decliningFinancial
Net profit is down 38% over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 39% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.
Cheaper than its peers
It trades 94% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.
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?

Growth barely outpaces inflation
Revenue compounding at 0.7% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
Returns on shareholder capital are falling
ROE has dropped from 18.3% to 8.2%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
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 50%✓ 51.6%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✓ 8.2%
For a lender this is the cleanest single read on whether the book is being grown profitably.
3Revenue growth stays above 4% a year✗ 0.7% CAGR
Latest reported year was 1.7%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
4Valuation vs its own median of 1.5x✓ 0.9x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

6 / 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

4 good · 5 neutral · 2 weak

Market Cap

₹138 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

0.9x

Cheap

Cheap against the generic band

P/B Ratio

0.11x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹144.14

Profitable

Profitable on a per-share basis

ROE

8.2%

Moderate

Moderate capital efficiency

ROCE

0.0%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

1.7%

Modest

Modest growth

Profit Growth (YoY)

105.9%

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

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

57.6%

Good

Healthy core-business profitability

Net Margin

24222.5%

Good

Strong bottom-line conversion

Current Ratio

132.83

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.05

Defensive

Steadier than the market

52W Range Position

25%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

136.9 / 139.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

39.2

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	+0.7%
EBITDA	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+0.7%
EBITDA Margin	51.5%	53.1%	52.7%	51.6%	—
PAT (Net Profit)	₹172 Cr	₹119 Cr	₹104 Cr	₹107 Cr	-14.6%
EPS	₹168.74	₹116.45	₹101.75	₹105.22	-14.6%
ROE	18.3%	11.0%	8.7%	8.2%	—
ROCE	0.0%	0.0%	0.0%	0.0%	—
Free Cash Flow	₹2 Cr	-₹0 Cr	₹0 Cr	-₹0 Cr	—

🟡 Revenue has been broadly flat over 3 years (0.7% a year).

🟡 EBITDA has been broadly flat over 3 years (0.7% a year).

🟡 EBITDA Margin has held roughly flat at 51.6% over 3 years.

🔴 PAT (Net Profit) has shrunk at 14.6% a year over 3 years.

🔴 EPS has shrunk at 14.6% a year over 3 years.

🔴 ROE has fallen from 18.3% to 8.2% over 3 years (-10.1 pts).

🟡 ROCE has held roughly flat at 0.0% over 3 years.

🔴 Free Cash Flow has turned negative, from ₹2 Cr to -₹0 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹1,307 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

73.9%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
STATE BANK OF INDIA	10.3x	15.2%
HDFC BANK LTD	15.9x	13.8%
ICICI BANK LTD.	18.1x	16.5%

Recent News

2 mixed4 general

Available Finance shares withdrawn from NSE platform

scanx.trade, 04 Jun

Available Finance Ltd. (AVAILFC) Share Price Rises 8.78% Today; Market Cap at Rs 144.79 Cr

Univest, 27 AugPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Artificial intelligence in financial market prediction: advancements in machine learning for stock price forecasting

Frontiers, 13 Jan

Top 10 AI Tools for Financial Analysis in 2026 (Buyer's Guide)

AlphaSense, 20 May

LIC Housing Finance Ltd. Share Price Fall and Sector View

Univest, 21 AugPrice move

🟡Mixed / dependsA price move rather than a change in the business. If the figures on this page have not moved, the fall is either an opportunity or news they have yet to catch up with.

Available Finance sets Sept 9 AGM; e-voting opens Sept 6

scanx.trade, 17 Aug

Watch Items

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.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Valuation

MiddlingProfitability · 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 4 tripwires tripped — Revenue growth stays above 4% a year · see Key things to watch ↑