Company Overview
Aryaman Financial Services Limited (AFSL) is a SEBI-registered Category I Merchant Banker providing comprehensive financial advisory and capital market services, specializing in capital markets, corporate finance, and restructuring. The company is a pioneer in SME and Start-up IPOs in India, having handled over 25 IPOs raising ₹4,662 crore, with total market capitalization of listed clients exceeding ₹80,000 crore.
Financial Performance FY 2025-26
Standalone Performance
- Total Income: ₹1,751.34 lakh (compared to ₹2,116.24 lakh in previous year)
- Net Profit: ₹689.55 lakh (increased 12.7% from ₹611.83 lakh in previous year)
- Earnings Per Share: Basic and Diluted ₹5.63
- Current Ratio: 12.08
- Debt-Equity Ratio: 0.04
Consolidated Performance
- Revenue from Operations: ₹7,818.94 lakhs (30.7% decline from ₹11,286.88 lakhs in FY25)
- Net Profit: ₹3,813.57 lakhs (15.6% decrease from ₹4,520.06 lakhs in FY25)
- Earnings Per Share: Basic and diluted EPS stood at ₹31.14
- Investment portfolio grew significantly to ₹13,388.84 lakhs with substantial fair value gains
- Strengthened balance sheet by repaying all borrowings, resulting in zero debt and improved current ratio of 16.89
Annual General Meeting
- 32nd AGM scheduled for Friday, September 11, 2026 at 11:30 AM IST through Video Conference
- Record Date: September 4-10, 2026
- Business to be transacted:
- Adoption of audited standalone and consolidated financial statements
- Re-appointment of Mr. Shripal Shah as director retiring by rotation
- Approval of material related party transactions up to ₹50 crore each with holding company and subsidiaries
Subsidiaries and Shareholding
1. Aryaman Capital Markets Limited (74.28% stake) - Contributing 48.78% to consolidated net assets and 72.88% to consolidated profit
2. Escorp Asset Management Limited (52.47% stake) - Contributing 31.38% to consolidated net assets and 7.82% to consolidated profit
3. Aryaman Finance (India) Limited (100% ownership) - RBI-registered Base Layer NBFC contributing 8.05% to consolidated net assets
- Promoter Holding: Mahshri Enterprises Private Limited holds 76,48,030 shares (62.45%)
- Preferential Allotment: On March 21, 2025, issued 5,65,000 equity shares at ₹245 per share to Mahshri Enterprises
Key Financial Position Highlights
- Cash and Cash Equivalents: ₹8,070.00 lakhs
- Investments: ₹13,388.84 lakhs in equity instruments (FVOCI: ₹9,481.04 lakhs, FVTPL: ₹3,907.80 lakhs)
- Borrowings: Zero (fully repaid from ₹2,801.72 lakhs in FY25)
- Share Capital: ₹1,224.70 lakhs (1,22,47,000 equity shares of ₹10 each)
- Other Equity: ₹14,818.23 lakhs comprising securities premium, retained earnings, and comprehensive income
Risk Management and Compliance
Comprehensive risk management policies covering liquidity risk, market risk (interest rate, currency, price risk), credit risk with expected credit loss provisioning, and capital risk. The company maintains statutory compliance with SEBI, RBI, and Companies Act requirements, with no pending litigations or contingent liabilities reported.
Future Outlook
The company aims to strengthen its merchant banking franchise, expand advisory services, and leverage group synergies across capital markets, asset management, and NBFC operations. AFSL plans to enhance participation in infrastructure and project financing while maintaining focus on technology adoption and operational excellence.