Unifinz Capital India Limited

Financial Services — Credit Services · BSE

₹132.60+₹6.30 (+4.99%)

DalalBaazaar Score

77 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

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

In simple words: Strong business and financial position, 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 Unifinz Capital India Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Unifinz Capital India Limited operates as a non-banking finance company in India. It offers personal, travel, wedding, balance transfer, education, home renovation, debt consolidation, medical emergency, long and short term, and instant cash loans.

IndustryCredit Services

SectorFinancial Services

Employees517

Annual revenue₹511 Cr

How does it make money?

Turns over ₹511 Cr a year. Of every ₹100 of sales, about ₹17 reaches shareholders as profit, with ₹61 left at the operating level before interest, tax and depreciation. Each of its 517 employees supports ₹98.9 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹98.9 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 +5490% while net margin moved -383% 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+5490%

Margin effect-383%

DalalBaazaar Score

77/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.46 — 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
✗ Trading within 10% of its 52-week high — entries here carry more pullback risk
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

81/ 100

Excellent

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 good business currently available at an undemanding price — the combination this framework is built to look for.

Historical Valuation

Current P/E

6.7x

1.3Y Median

19.1x

16 monthly readings · mean 16.6x · range 5.3x–24.1x

Sector Median

17.0x

median of 4 sector peers

🟢Current valuation is approximately 65% below its 1.3y median of 19.1x. 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 60% below the peer median of 17.0x.

vs. its own history

Cheap

19.1x median over 16 months · -65%

vs. sector peers

Cheap

17.0x median of 4 peers · -60%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

2.7x

PEG

8.42

What's Good / What's Bad

🟢 What's Going Well3

Margins are improving
EBITDA margin is up from 10.8% to 60.7% over 3 years.
Return on equity is rising
ROE has improved from -11.5% to 53.1%.
Return on capital is rising
ROCE has improved from -5.3% to 27.4%.

🔴 What Needs Attention0

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

Red Flags

1 item require attention · 1 watch

🟡Shareholders have been dilutedOwnership
Shares outstanding are up 182% 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 10.8% to 60.7%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Priced below its own history
The stock trades 65% 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 60% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

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 212% a year✓ 282.4% CAGR
Latest reported year was 39.0%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 59%✓ 60.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Return on equity stays above 51%✓ 53.1%
For a lender this is the cleanest single read on whether the book is being grown profitably.
4Valuation vs its own median of 19.1x✓ 6.7x 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 · 4 neutral · 2 weak

Market Cap

₹587 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

6.7x

Cheap

Cheap against the generic band

P/B Ratio

3.58x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹19.69

Profitable

Profitable on a per-share basis

ROE

53.1%

Strong

Strong capital efficiency

ROCE

27.4%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

1.69x

High

High leverage

Revenue Growth (YoY)

39.0%

Healthy

Healthy top-line growth

Profit Growth (YoY)

0.8%

Modest

Slow profit growth

Dividend Yield

0.38%

Modest

Small cash return — most of the return has to come from the price

Free Cash Flow

-₹192 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

31.5%

Good

Healthy core-business profitability

Net Margin

27.7%

Good

Strong bottom-line conversion

Current Ratio

13.14

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.46

Defensive

Steadier than the market

52W Range Position

100%

Near high

Near its 52-week high

Technical Snapshot

SMA 20 / SMA 50

106.6 / 104.5

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

89.4

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹9 Cr	₹30 Cr	₹121 Cr	₹511 Cr	+282.4%
EBITDA	₹1 Cr	₹14 Cr	₹57 Cr	₹310 Cr	+579.5%
EBITDA Margin	10.8%	46.3%	47.3%	60.7%	—
PAT (Net Profit)	-₹1 Cr	-₹1 Cr	₹20 Cr	₹87 Cr	—
EPS	₹-0.35	₹-0.72	₹5.07	₹19.6	—
ROE	-11.5%	-30.8%	25.9%	53.1%	—
ROCE	-5.3%	74.8%	24.4%	27.4%	—
Total Debt	₹11 Cr	₹32 Cr	₹34 Cr	₹278 Cr	+195.1%
Free Cash Flow	-₹5 Cr	-₹16 Cr	-₹30 Cr	-₹192 Cr	—

🟢 Revenue has grown at 282.4% a year over 3 years.

🟢 EBITDA has grown at 579.5% a year over 3 years.

🟢 EBITDA Margin has risen from 10.8% to 60.7% over 3 years (+49.8 pts).

🟢 PAT (Net Profit) has turned positive, from -₹1 Cr to ₹87 Cr.

🟢 EPS has turned positive, from ₹-0.35 to ₹19.6.

🟢 ROE has risen from -11.5% to 53.1% over 3 years (+64.6 pts).

🟢 ROCE has risen from -5.3% to 27.4% over 3 years (+32.7 pts).

🔴 Total Debt has grown at 195.1% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹479 Cr

Total Liabilities

₹315 Cr

Cash & Equivalents

₹39 Cr

Operating Cash Flow

-₹190 Cr

Capex

-₹1 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

82.7%

Corporate Actions

Dividend Rate

₹0.5

Ex-Dividend Date

06 Apr 2026

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

Unifinz Capital India Share Price Near All-Time High Today

Univest, 16 Oct

Unifinz Capital to seek shareholder nod for ₹100 crore warrant issue

scanx.trade, 17 Oct

Unifinz Capital India Upper Circuit Streak: Day 4 Price and Data

Univest, 16 Oct

Unifinz Capital India Ltd is Rated Hold

MarketsMojo, 15 Oct

Unifinz Capital India (BSE: 541358): Lowest P/E on the List at 5.19 Explained

Kalkine India, 02 Oct

Unifinz Capital India Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 01 Sept

Watch Items

Trading very close to its 52-week high — momentum-driven entries here carry more mean-reversion risk.
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.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth · Profitability · Valuation

WeakRisk

Points for each in the Score ↑

Attractive on both counts

A good business currently available at an undemanding price — the combination this framework exists to look for. The work left is qualitative: whether the advantage the numbers imply is one you can identify and expect to last.

All 4 tripwires holding · see Key things to watch ↑