Glance Finance Limited

Financial Services — Capital Markets · BSE

₹198.95+₹8.95 (+4.71%)

DalalBaazaar Score

76 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by micro-cap size, which brings thin liquidity.

In simple words: Reasonable but unspectacular business quality, with both sales and profits growing well. Nothing on this snapshot stands out as an immediate concern — the usual checks on business quality and management still apply.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:57 pm

Understanding the Business

Company site ↗

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

What does this company do?

Glance Finance Limited, a non-banking financial company, engages in finance and investment activities in India. It also provides asset leasing services for cars, vending machines, and others, as well as offers related ancillary services.

IndustryCapital Markets

SectorFinancial Services

Employees8

Annual revenue₹24 Cr

How does it make money?

Turns over ₹24 Cr a year. Of every ₹100 of sales, about ₹21 reaches shareholders as profit, with ₹51 left at the operating level before interest, tax and depreciation. Each of its 8 employees supports ₹2.95 Cr of revenue a year, the signature of a capital- or asset-led business.

Revenue / employee₹2.95 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 +252% while net margin moved -576% 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+252%

Margin effect-576%

DalalBaazaar Score

76/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of -0.08 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast

Quality vs. Valuation

Company Quality

84/ 100

Excellent

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

Valuation

64/ 100

Fair

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

16.9x

2Y Median

9.1x

28 monthly readings · mean 11.0x · range 4.0x–23.2x

Sector Median

58.4x

median of 3 sector peers

⚠️Current valuation is approximately 85% above its 2y median of 9.1x. 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 71% below the peer median of 58.4x.

vs. its own history

Expensive

9.1x median over 28 months · +85%

vs. sector peers

Cheap

58.4x median of 3 peers · -71%

vs. generic bands

Fair

15x–35x

EV/EBITDA

3.9x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Return on equity is rising
ROE has improved from -1.2% to 9.9%.
Return on capital is rising
ROCE has improved from 2.1% to 12.8%.

🔴 What Needs Attention0

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

Red Flags

1 item require attention · 1 high

🔴Significant margin compressionFinancial
EBITDA margin has fallen 26.1 points, from 76.8% to 50.7%.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 71% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 76.8% to 50.7%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
The price already assumes success
The stock trades 85% 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

1Revenue growth stays above 39% a year✓ 52.1% CAGR
Latest reported year was 1007.0%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 49%✓ 50.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Return on equity stays above 8%✓ 9.9%
For a lender this is the cleanest single read on whether the book is being grown profitably.
4Valuation vs its own median of 9.1x✗ 16.9x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

8 / 11 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
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 5 neutral · 1 weak

Market Cap

₹45 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

16.9x

Fair

Fairly valued against the generic band

P/B Ratio

0.90x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹11.78

Profitable

Profitable on a per-share basis

ROE

9.9%

Moderate

Moderate capital efficiency

ROCE

12.8%

Moderate

Moderate return on the capital in the business

Debt/Equity

3.82x

High

High leverage

Revenue Growth (YoY)

1007.0%

Healthy

Healthy top-line growth

Profit Growth (YoY)

2821.6%

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

₹6 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

89.8%

Good

Healthy core-business profitability

Net Margin

23.9%

Good

Strong bottom-line conversion

Current Ratio

13.64

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.08

Defensive

Steadier than the market

52W Range Position

52%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

191.8 / 174.4

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

62.1

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹7 Cr	₹15 Cr	₹25 Cr	₹24 Cr	+52.1%
EBITDA	₹5 Cr	₹10 Cr	₹17 Cr	₹12 Cr	+32.4%
EBITDA Margin	76.8%	70.3%	67.6%	50.7%	—
PAT (Net Profit)	-₹0 Cr	₹2 Cr	₹8 Cr	₹5 Cr	—
EPS	₹-1.3	₹8.6	₹37.15	₹21.83	—
ROE	-1.2%	5.3%	18.7%	9.9%	—
ROCE	2.1%	10.8%	22.3%	12.8%	—
Total Debt	₹14 Cr	₹7 Cr	₹4 Cr	₹2 Cr	-48.3%
Free Cash Flow	-₹5 Cr	₹5 Cr	₹12 Cr	₹6 Cr	—

🟢 Revenue has grown at 52.1% a year over 3 years.

🟢 EBITDA has grown at 32.4% a year over 3 years.

🔴 EBITDA Margin has fallen from 76.8% to 50.7% over 3 years (-26.1 pts).

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹5 Cr.

🟢 EPS has turned positive, from ₹-1.3 to ₹21.83.

🟢 ROE has risen from -1.2% to 9.9% over 3 years (+11.1 pts).

🟢 ROCE has risen from 2.1% to 12.8% over 3 years (+10.7 pts).

🟢 Total Debt has shrunk at 48.3% a year over 3 years.

🟢 Free Cash Flow has turned positive, from -₹5 Cr to ₹6 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹54 Cr

Total Liabilities

₹5 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

₹8 Cr

Capex

-₹2 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

88.8%

Corporate Actions

Ex-Dividend Date

21 Sept 2015

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 positive3 mixed2 general

Gold Stocks With Strong Fundamentals: Top Picks to Consider

Univest, 16 Oct

Glance Finance shareholders approve FY26 results with 99.99% majority

scanx.trade, 28 SeptResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Baidu (BIDU) Stock Looks Cheap At First Glance After 30% Drop

Yahoo Finance, 12 Aug

Glance Finance closes trading window from July 1 until Q1FY26 results

scanx.trade, 23 JunResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

HDFC Bank shares gain 3% after Q1 business update; key metrics at a glance

Upstox, 05 JulPrice 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.

Wipro Buyback Looks Attractive at First Glance — But How Much Can You Really Earn?

NiftyTrader, 17 AprCapital return

🟢Potentially positiveCash or shares returned to holders. A buyback is only good value if the shares were cheap when bought.

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.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth · Profitability

MiddlingValuation

WeakRisk

Points for each in the Score ↑

Good business at a fair price

A sound business at a reasonable valuation. Suitable for a long-term holding, with the valuation and the direction of margins worth watching rather than the business itself. 1 high-severity red flag sits above this conclusion and should be read first.

1 of 4 tripwires tripped — Valuation vs its own median of 9.1x · see Key things to watch ↑