Hasti Finance Limited

Financial Services — Credit Services · BSE

₹7.98−₹0.42 (−5.00%)

DalalBaazaar Score

43 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, with both sales and profits growing well. Cash generation 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

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

What does this company do?

Hasti Finance Limited, a non-deposit accepting non-banking financial company, provides financial services in India. The company offers loans to retail and corporate customers. Hasti Finance Limited was incorporated in 1994 and is based in Mumbai, India.

IndustryCredit Services

SectorFinancial Services

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-3560 reaches shareholders as profit, with ₹2597 left at the operating level before interest, tax and depreciation.

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 -82% while net margin moved +10125% 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+10125%

DalalBaazaar Score

43/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 43.6% a year

Quality vs. Valuation

Company Quality

45/ 100

Average

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

Valuation

49/ 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.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

1.9x

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Margins are improving
EBITDA margin is up from 80.2% to 2597.4% over 3 years.
Return on capital is rising
ROCE has improved from -2.2% to 0.0%.

🔴 What Needs Attention1

Return on equity is falling
ROE has dropped from -1.6% to -111.1% — each rupee of shareholder capital earns less than it did.

Red Flags

1 item require attention · 1 high

🔴The company is lossmakingFinancial
Net profit of -₹6 Cr in the latest reported year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from 80.2% to 2597.4%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.

🔴 Bear CaseWhat could go wrong?

Returns on shareholder capital are falling
ROE has dropped from -1.6% to -111.1%. 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.
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 2595%✓ 2597.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ -111.1%
For a lender this is the cleanest single read on whether the book is being grown profitably.

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

2 good · 4 neutral · 5 weak

Market Cap

₹9 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

1.53x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-5.8

Loss-making

Negative earnings per share — the business is losing money

ROE

-111.1%

Weak

Weak 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)

22.3%

Healthy

Healthy top-line growth

Profit Growth (YoY)

23.2%

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

-85.3%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

40.59

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.29

Defensive

Steadier than the market

52W Range Position

63%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

8.4 / 7.7

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

29.7

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹1 Cr	₹0 Cr	₹0 Cr	₹0 Cr	-43.6%
EBITDA	₹1 Cr	₹0 Cr	₹9 Cr	₹5 Cr	+79.7%
EBITDA Margin	80.2%	34.0%	1913.4%	2597.4%	—
PAT (Net Profit)	-₹0 Cr	-₹1 Cr	-₹8 Cr	-₹6 Cr	—
EPS	₹-0.32	₹-0.47	₹-7.52	₹-5.77	—
ROE	-1.6%	-2.5%	-68.6%	-111.1%	—
ROCE	-2.2%	-2.7%	1.8%	0.0%	—
Free Cash Flow	—	₹0 Cr	₹0 Cr	-₹0 Cr	—

🔴 Revenue has shrunk at 43.6% a year over 3 years.

🟢 EBITDA has grown at 79.7% a year over 3 years.

🟢 EBITDA Margin has risen from 80.2% to 2597.4% over 3 years (+2517.2 pts).

🔴 ROE has fallen from -1.6% to -111.1% over 3 years (-109.4 pts).

🟢 ROCE has risen from -2.2% to 0.0% over 3 years (+2.2 pts).

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

Balance Sheet & Cash Flow — FY2026

Total Assets

₹7 Cr

Total Liabilities

₹1 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

66.9%

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

Hasti Finance submits voting results for 32nd AGM, all resolutions pass

scanx.trade, 05 OctResults

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

SOLLFEGE SMART ELECTRONICS LTD. Stock/Share price , NSE/BSE Forecast News and Live Quotes

Equitymaster, 09 Oct

BLUECHIP Stock Price and Chart — NSE:BLUECHIP

TradingView, 20 May

Angel One to host Q1 FY27 earnings call on July 16

scanx.trade, 24 JunResults

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

Sebi imposes Rs 21 lakh on two individuals for facilitating front running activities

The Times of India, 28 Jul

GEMSI Stock Price and Chart — BSE:GEMSI

TradingView, 23 Sept

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.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

StrongFinancial Health

MiddlingBusiness Quality

WeakGrowth · 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. 1 high-severity red flag sits above this conclusion and should be read first.

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