Moneyboxx Finance Limited

Financial Services — Credit Services · NSE

₹50.25+₹0.88 (+1.78%)

DalalBaazaar Score

60 / 100

🟢 Good

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, 7:48 pm

Understanding the Business

Company site ↗

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

What does this company do?

Moneyboxx Finance Limited, a non-banking financial company, engages in the lending and allied activities in India.

IndustryCredit Services

SectorFinancial Services

Employees1,830

Annual revenue₹201 Cr

How does it make money?

Turns over ₹201 Cr a year. Of every ₹100 of sales, about ₹1 reaches shareholders as profit, with ₹-5 left at the operating level before interest, tax and depreciation. Each of its 1,830 employees supports ₹11.0 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹11.0 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?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved +307% while net margin moved -105% 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+307%

Margin effect-105%

DalalBaazaar Score

60/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.45 — 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
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

63/ 100

Average

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

Valuation

44/ 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

264.5x

1.2Y Median

309.8x

14 monthly readings · mean 308.7x · range 250.2x–402.5x

Sector Median

17.0x

median of 4 sector peers

🟢Current valuation is approximately 15% below its 1.2y median of 309.8x. 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 1456% above the peer median of 17.0x.

vs. its own history

Fair

309.8x median over 14 months · -15%

vs. sector peers

Expensive

17.0x median of 4 peers · +1456%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well3

Margins are improving
EBITDA margin is up from -9.4% to -5.3% over 3 years.
Return on equity is rising
ROE has improved from -8.9% to 0.5%.
Return on capital is rising
ROCE has improved from -5.0% to 0.6%.

🔴 What Needs Attention0

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

Red Flags

2 items require attention · 1 high · 1 watch

🔴Thin interest coverageFinancial
Operating profit covers interest only 2.0x — little room if earnings dip.
🟡Shareholders have been dilutedOwnership
Shares outstanding are up 40% over 3 years — each existing share owns a smaller slice of the company.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -9.4% to -5.3%. 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?

A premium to the sector to defend
It trades 1456% above the peer median. That premium needs a reason that persists, or it closes.
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 45% a year✓ 59.7% CAGR
Latest reported year was -4.5%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above -7%✓ -5.3%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Return on equity stays above 8%✗ 0.5%
For a lender this is the cleanest single read on whether the book is being grown profitably.
4Interest cover stays above 3x✗ 2.0x
How much operating profit can fall before interest stops being comfortably covered.
5Valuation vs its own median of 309.8x✓ 264.5x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

2 / 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

2 good · 2 neutral · 7 weak

Market Cap

₹351 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

264.5x

Expensive

Expensive — verify against sector peers

P/B Ratio

1.18x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.19

Profitable

Profitable on a per-share basis

ROE

0.5%

Weak

Weak capital efficiency

ROCE

0.6%

Weak

Low return on total capital employed

Debt/Equity

2.28x

High

High leverage

Revenue Growth (YoY)

-4.5%

Shrinking

Sales are contracting

Profit Growth (YoY)

-14.3%

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

-₹50 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.8%

Weak

Thin margins leave little room for error

Net Margin

1.1%

Weak

Very little revenue reaches the bottom line

Current Ratio

1.15

Adequate

Adequate, but no real cushion

Beta (vs Nifty)

0.45

Defensive

Steadier than the market

52W Range Position

26%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

52.8 / 54.2

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

47.8

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹49 Cr	₹115 Cr	₹181 Cr	₹201 Cr	+59.7%
EBITDA	-₹5 Cr	₹5 Cr	₹0 Cr	-₹11 Cr	—
EBITDA Margin	-9.4%	4.0%	0.0%	-5.3%	—
PAT (Net Profit)	-₹7 Cr	₹9 Cr	₹1 Cr	₹1 Cr	—
EPS	₹-1.47	₹1.7	₹0.2	₹0.2	—
ROE	-8.9%	5.4%	0.5%	0.5%	—
ROCE	-5.0%	3.0%	0.8%	0.6%	—
Total Debt	₹234 Cr	₹446 Cr	₹645 Cr	₹675 Cr	+42.4%
Free Cash Flow	-₹129 Cr	-₹230 Cr	-₹234 Cr	-₹50 Cr	—

🟢 Revenue has grown at 59.7% a year over 3 years.

🟢 EBITDA Margin has risen from -9.4% to -5.3% over 3 years (+4.1 pts).

🟢 PAT (Net Profit) has turned positive, from -₹7 Cr to ₹1 Cr.

🟢 EPS has turned positive, from ₹-1.47 to ₹0.2.

🟢 ROE has risen from -8.9% to 0.5% over 3 years (+9.4 pts).

🟢 ROCE has risen from -5.0% to 0.6% over 3 years (+5.6 pts).

🔴 Total Debt has grown at 42.4% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹995 Cr

Total Liabilities

₹699 Cr

Cash & Equivalents

₹83 Cr

Operating Cash Flow

-₹32 Cr

Capex

-₹17 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

58.8%

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

1 mixed5 general

Moneyboxx Finance vs Nifty 50: Share Price Performance Compared

Univest, 07 Oct

Moneyboxx Finance Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 04 Sept

Moneyboxx Finance Ltd leads losers in 'B' group

Business Standard, 09 Sept

Moneyboxx Finance Share Price Recovery Analysis

Kalkine India, 16 Sept

Moneyboxx Finance crosses ₹1,000 crore assets, enters Middle Layer NBFC

scanx.trade, 06 Oct

Moneyboxx Finance Share Price Hits Lower Band on Rs 60 Cr NCD

Univest, 28 SeptPrice 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.

Watch Items

Revenue growth is negative (-4.5%) 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

StrongFinancial Health · Growth

MiddlingBusiness Quality · Profitability · Valuation

WeakRisk

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.

2 of 5 tripwires tripped — Return on equity stays above 8%; Interest cover stays above 3x · see Key things to watch ↑