530245

Aryaman Fin.Serv financials

Market cap
₹778 Cr
Sector
Financial Services

What Aryaman Fin.Serv does

Aryaman Financial Services Limited (AFSL) is a SEBI-registered Category I Merchant Banker offering IPO/FPO lead management, rights issues, QIPs, preferential allotments, FCCBs, ADR/GDR facilitation, M&A and transaction advisory, and structured/corporate finance advisory. It has been the first merchant banker in India to bring both SME and Start-up IPOs to market. Group operations are extended through subsidiaries: Aryaman Capital Markets Limited (stock broking on BSE/NSE/MCX, depository participant services, and mandatory market making for SME IPOs it floats), Escorp Asset Management Limited (SEBI-registered portfolio management services), and Aryaman Finance (India) Limited (a newly incorporated wholly-owned subsidiary awaiting RBI registration to undertake corporate/personal financing).

Segments

  • Merchant banking / Equity Capital Markets
  • M&A and Transaction Advisory
  • Structured Finance and Corporate Advisory
  • Stock broking & market making (via Aryaman Capital Markets Ltd)
  • Portfolio management (via Escorp Asset Management Ltd)
  • Financing (via Aryaman Finance (India) Ltd)
IPOs handled as Lead Merchant Banker
101
Aggregate funds raised for clients (last 5 years)
₹2,000 Cr+
Market capitalization of listed IPO clients
₹60,000 Cr+
IPO transactions currently mandated
₹3,000 Cr+
Wholly-owned/subsidiary entities
3 (Aryaman Capital Markets Ltd, Escorp Asset Management Ltd, Aryaman Finance (India) Ltd)
Stock exchange memberships (via subsidiary ACML)
BSE, NSE, MCX
Founded 1994Headquarters Mumbai, Maharashtra (corporate office); registered office New Delhi Company website

Quarterly results

Q1 FY27: revenue up 131.5%, net profit up 49.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue4 2 12 2 7 +90%3 +46%2 −79%6 +131%
EBITDA9 26 11 15 12 +33%— — —
Net profit1 1 4 1 3 +177%2 +149%1 −68%2 +49%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −25.8% 1Y

₹600₹700₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹829.05 on 10 Sept 2025 → ₹615. High ₹836.1 (23 Oct 2025), low ₹565.75 (30 Jul 2026).

Financials, as filed

Revenue fell 33.3% a year over 3 years, FY23 to FY26.

Year endingFY23FY24FY25FY26
Revenue₹53 Cr₹15 Cr₹20 Cr₹16 Cr
Operating profit₹8 Cr₹31 Cr₹53 Cr—
Operating margin15.0%205.2%265.4%—
Interest₹4 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Net profit₹5 Cr₹4 Cr₹6 Cr₹7 Cr
Net margin9.4%25.1%30.6%43.6%
Cash from operations₹2 Cr₹0 Cr₹8 Cr₹6 Cr
Free cash flow₹2 Cr₹0 Cr₹7 Cr₹6 Cr
ROE7.5%13.4%15.2%12.9%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹12 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr
Reserves₹12 Cr₹13 Cr₹15 Cr₹19 Cr₹138 Cr₹45 Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other liabilities₹1 Cr₹1 Cr₹2 Cr₹1 Cr₹76 Cr₹2 Cr
Total liabilities₹24 Cr₹25 Cr₹28 Cr₹31 Cr₹226 Cr₹59 Cr
Fixed assets₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹3 Cr₹1 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹13 Cr₹13 Cr₹13 Cr₹13 Cr₹105 Cr₹31 Cr
Other assets₹10 Cr₹11 Cr₹14 Cr₹17 Cr₹119 Cr₹27 Cr
Total assets₹24 Cr₹25 Cr₹28 Cr₹31 Cr₹226 Cr₹59 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count grew 1% to 2,215.

Promoters
63.9%
DIIs
0.0%
Public
36.1%

Since Jun 2025

  • Promoters 0.00 pp
  • DIIs 0.00 pp
  • Public 0.00 pp

How it drifted, 12 quarters

Over this window promoters went from 62.2% to 63.9% — +1.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Dec '23: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Mar '24: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Jun '24: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Sep '24: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Dec '24: Promoters 62.2%, DIIs 0.0%, Public 37.8%.Mar '25: Promoters 63.9%, DIIs 0.0%, Public 36.1%.Jun '25: Promoters 63.9%, DIIs 0.0%, Public 36.1%.Sep '25: Promoters 63.9%, DIIs 0.0%, Public 36.1%.Dec '25: Promoters 63.9%, DIIs 0.0%, Public 36.1%.Mar '26: Promoters 63.9%, DIIs 0.0%, Public 36.1%.Jun '26: Promoters 63.9%, DIIs 0.0%, Public 36.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Aryaman Fin.Serv above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Mahshri Enterprises 62.45%unchanged
Precious Tradeways Private Limited 3.92%unchanged
Jai Ambe Tradexim Private Limited 3.85%unchanged
Shri Ravindra Media Ventures Private Lim 3.20%unchanged
Arc Finance Limited 3.04%unchanged
Harsha Rajeshbhai Jhaveri 1.88%unchanged
Ambitious Associates Pvt Ltd 1.31%unchanged
Vedankit Traders Private Limited 1.28%unchanged
Vishal Sharma 1.05%unchanged
Jignesh Amrutlal Thobhani 1.01%unchanged
Shripal Shrenik Shah 0.73%unchanged
Shreyas Shrenik Shah 0.73%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Aryaman Fin.Serv

Guides on how to read this kind of business and the numbers that matter.