Triumph International Finance India Limited

Financial Services — Credit Services · BSE

₹15.78−₹1.22 (−7.18%)

DalalBaazaar Score

32 / 100

🔴 Weak

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:02 pm

Understanding the Business

Company site ↗

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

What does this company do?

Triumph International Finance India Limited is based in Mumbai, India.

IndustryCredit Services

SectorFinancial Services

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%

DalalBaazaar Score

32/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

36/ 100

Weak

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

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

Historical Valuation

Current P/E

2.9x

2Y Median

3.9x

22 monthly readings · mean 4.7x · range 1.1x–12.8x

Sector Median

17.0x

median of 4 sector peers

🟢Current valuation is approximately 26% below its 2y median of 3.9x. 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 83% below the peer median of 17.0x.

vs. its own history

Cheap

3.9x median over 22 months · -26%

vs. sector peers

Cheap

17.0x median of 4 peers · -83%

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

1625.3x

PEG

0.16

What's Good / What's Bad

🟢 What's Going Well1

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 high

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 26% 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 83% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
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

1Valuation vs its own median of 3.9x✓ 2.9x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

4 / 9 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ 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 · 6 neutral · 3 weak

Market Cap

₹12 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

2.9x

Cheap

Cheap against the generic band

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹5.48

Profitable

Profitable on a per-share basis

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

-0.0%

Distorted

Distorted by the negative net worth — read this alongside the solvency flag, not on its own

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

6.6%

Modest

Slow profit growth

Dividend Yield

None

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

Free Cash Flow

-₹4 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

18.50

Comfortable

Healthy short-term liquidity

52W Range Position

11%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

16.6 / 17.0

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

39.9

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
EBITDA	₹0 Cr	-₹0 Cr	-₹0 Cr	₹0 Cr	-5.4%
PAT (Net Profit)	₹2 Cr	₹3 Cr	₹4 Cr	₹4 Cr	+18.1%
EPS	₹3.17	₹4.4	₹4.89	₹5.21	+18.0%
ROCE	-0.0%	-0.1%	-0.3%	-0.0%	—
Total Debt	₹114 Cr	₹114 Cr	₹114 Cr	₹114 Cr	+0.0%
Free Cash Flow	-₹2 Cr	-₹3 Cr	-₹4 Cr	-₹4 Cr	—

🔴 EBITDA has shrunk at 5.4% a year over 3 years.

🟢 PAT (Net Profit) has grown at 18.1% a year over 3 years.

🟢 EPS has grown at 18.0% a year over 3 years.

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

🟡 Total Debt has been broadly flat over 3 years (0.0% a year).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹170 Cr

Total Liabilities

₹237 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

-₹4 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

71.1%

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

6 general

Triumph International Finance India Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 07 Sept

Triumph International Finance India Ltd. Share Price Live Today

CNBC TV18, 03 Jan

India batter Punam Raut announces retirement from international cricket

Business Standard, 16 Oct

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

Equitymaster, 09 Oct

The Padmini Scam: 2 Years After The Halted SME IPO, Where Does Rosmerta Stand Today?

Inventiva, 05 Oct

Comeback preponed! Bhuvneshwar added to India's squad for 5th T20I vs WI

Business Standard, 16 Oct

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.
2 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

StrongGrowth

WeakBusiness Quality · Financial Health · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Triumph International Finance India Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 1 high-severity red flag sits above this conclusion and should be read first.

All 1 tripwires holding · see Key things to watch ↑