ARMANFINArman Financial Services Ltd.
Arman Financial Services Q2 FY27 Results: Consolidated Net Profit ₹51.48 Crore on Total Income of ₹235 Crore
- Earnings
- non-banking finance company
Reviewed byKeshav SehgalBlacklitt Research
Arman Financial Services (NSE: ARMANFIN) reported consolidated total income of ₹234.64 crore and net profit of ₹51.48 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income was ₹67.92 crore and net profit ₹17.37 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹234.64 crore, up 47.4% YoY and 16.3% QoQ
- Net profit and EPS: ₹51.48 crore; basic EPS ₹48.94, against ₹7.62 a year earlier
- Finance costs: ₹73.17 crore, up 47.5% YoY and 13.8% QoQ
- Net profit margin: 21.94%, against 5.02% a year earlier
Standalone
The company on its own, without its subsidiaries
- Total income: ₹67.92 crore, up 30.3% YoY and 3.0% QoQ
- Net profit and EPS: ₹17.37 crore; basic EPS ₹16.51, against ₹8.49 a year earlier
- Finance costs: ₹19.08 crore, up 38.1% YoY and down 3.6% QoQ
- Net profit margin: 25.58%, against 17.11% a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 234.64 | 159.21 | +47.4% | 201.82 | +16.3% | |
| Revenue from operations | 234.64 | 159.21 | +47.4% | 201.78 | +16.3% |
| 51.48 | 7.99 | +544.0% | 45.17 | +14.0% | |
| Profit before tax | 69.16 | 17.94 | +285.5% | 57.17 | +21.0% |
| Finance costs | 73.17 | 49.61 | +47.5% | 64.28 | +13.8% |
| Depreciation | 0.66 | 0.45 | +44.9% | 0.47 | +39.0% |
| Tax expense | 17.68 | 9.94 | +77.8% | 12.00 | +47.3% |
| Net profit margin | 21.94% | 5.02% | +16.92 pp | 22.38% | -0.44 pp |
| EPS, basic (₹) | 48.94 | 7.62 | +542.3% | 42.96 | +13.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose 544.0% YoY, far faster than total income, which rose 47.4%.
The statement reports no exceptional items for the quarter. Consolidated results include Namra Finance Limited, a wholly owned subsidiary. The other auditors' review of that subsidiary covers revenues of ₹167.78 crore for the quarter, before consolidation adjustments, and its net profit after tax is ₹33.82 crore on the same basis.
The company says the consolidated debt-equity ratio is 2.07 times and total debt to total assets is 65.23%, with consolidated net worth of ₹1,032.91 crore as at 30 Sep 2026. Stage III loan assets were 2.73% of gross loan assets, and net Stage III assets 0.92%.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 67.92 | 52.10 | +30.3% | 65.96 | +3.0% | |
| Revenue from operations | 67.90 | 51.74 | +31.2% | 65.87 | +3.1% |
| Other income | 0.02 | 0.36 | -95.3% | 0.09 | -80.8% |
| 17.37 | 8.91 | +94.9% | 14.59 | +19.1% | |
| Profit before tax | 23.36 | 12.08 | +93.4% | 18.77 | +24.4% |
| Finance costs | 19.08 | 13.82 | +38.1% | 19.79 | -3.6% |
| Depreciation | 0.16 | 0.11 | +41.9% | 0.13 | +20.7% |
| Tax expense | 5.99 | 3.16 | +89.3% | 4.18 | +43.2% |
| Net profit margin | 25.58% | 17.11% | +8.47 pp | 22.12% | +3.46 pp |
| EPS, basic (₹) | 16.51 | 8.49 | +94.5% | 13.88 | +18.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 94.9% YoY, faster than the 30.3% rise in total income and the 93.4% rise in profit before tax. Revenue from operations rose 31.2%, while other income fell to ₹0.02 crore from ₹0.36 crore a year earlier, so almost all standalone income is from operations.
Standalone finance costs of ₹19.08 crore were 28.1% of total income, down from 19.79 crore in the previous quarter, but up 38.1% on the year-earlier ₹13.82 crore. Tax expense of ₹5.99 crore is 25.6% of profit before tax of ₹23.36 crore.
The company says the standalone debt-equity ratio is 0.99 times, total debt to total assets is 49.13%, standalone net worth is ₹668.91 crore, and the capital to risk-weighted assets ratio is 36.26%.
Inference
The filing states that 400 equity shares were allotted under ESOP Scheme 2016 and 31,171 under ESOP Plan 2023 in the quarter. The auditor's asset cover certificate covers secured listed NCDs of ₹387.30 crore against an exclusive security cover ratio of 1.10 times. No non-convertible securities were issued in the quarter.
The filing does not say whether any dividend has been declared or proposed, nor how much of the consolidated net profit belongs to owners as against non-controlling interests. The reason for the swing in deferred tax between quarters is also not given.
Filed with BSE on . Reference: Original filing (PDF)
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