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Poonawalla Fincorp Ltd.
NSE: POONAWALLAFinancial ServicesCredit Services
- Last close
- ₹413.00
- Day change
- −₹19.45 (−4.50%)vs
- Market cap
- ₹38,504 crIndian rupees
- Research updated
- 1 report
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About Poonawalla Fincorp
Poonawalla Fincorp Ltd. is a non-banking financial company (NBFC) based in India, engaging in the provision of asset-backed financing, small business loans, and affordable housing loans. This company plays a pivotal role in the financial market by offering tailored financial solutions to underserved segments, including small and medium enterprises (SMEs) and individual consumers seeking personal loans and insurance products. Poonawalla Fincorp Ltd. extends its offerings across various sectors, such as healthcare financing solutions, which supports the growing needs of medical professionals and institutions. The company’s significant presence within India’s diverse financial landscape underlines its commitment to financial inclusion and diversification of funding options, thereby facilitating broader economic growth. Its strategic alignment emphasizes robust risk management practices and innovative loan products that cater to evolving customer needs while maintaining a focus on sustainable development.
- Sector
- Financial Services
- Industry
- Credit Services
- Listing
- NSE: POONAWALLA
- Chief executive
- Mr. Arvind Kapil
- Employees
- 5,860
- Headquarters
- Mumbai, India
- ISIN
- INE511C01022
- Website
- poonawallafincorp.com
Public research · Report of
Business model & financial foundation
Poonawalla Fincorp (NSE: POONAWALLA), Non-deposit-taking NBFC; consumer and MSME finance; RBI Middle Layer: revenue of ₹6,796 crore in FY26 (+60.9% on FY25) and net profit of ₹541.8 crore.
- Revenue, FY26 (₹ crore)
- 6,796
- standalone
- Revenue growth, FY26
- +60.9%
- on FY25
- Net profit, FY26 (₹ crore)
- 541.8
- to owners
- Return on equity, FY26
- 5.9%
- on average equity
- Market capitalisation (₹ crore)
- 37,877
- at the close of 14 Oct 2026
Company profile
Cyrus Poonawalla Group controlled, non-deposit-taking RBI Middle Layer NBFC serving consumers, professionals and MSMEs through a pan-India phygital network. It lends across property, business, personal, used vehicles, machinery and newer gold, education, consumer-durable and commercial-vehicle products. Standalone is the primary lending basis; the former housing subsidiary and advisory JV are reconciled separately. Peer selection is analyst judgement based on these disclosed product overlaps, not an issuer-defined peer set.
| Item | Value |
|---|---|
| Legal name | Poonawalla Fincorp Limited (formerly Magma Fincorp Limited) |
| Exchange and ticker | NSE: POONAWALLA; BSE: 524000 |
| ISIN | INE511C01022 |
| CIN | L51504PN1978PLC209007 |
| Sector | Financial Services |
| Industry | Non-deposit-taking NBFC; consumer and MSME finance; RBI Middle Layer |
| Headquarters | Mumbai, India |
| Fiscal year end | March |
| Reporting basis and unit | standalone, in ₹ crore |
| Auditor | M S K A & Associates LLP and Kirtane & Pandit LLP (joint statutory auditors) (since FY25 jointly) |
| Market capitalisation | ₹37,877 crore (14 Oct 2026) |
| Shares outstanding | 81.28 crore shares (FY26) |
| Price | ₹440.4 (close, 14 Oct 2026) |
| 52-week range | ₹361.2 - ₹544.8 (to 14 Oct 2026) |
| Website | https://poonawallafincorp.com |
Corporate structure and shareholding
Parent: Rising Sun Holdings Private Limited.
No subsidiary is recorded.
Cyrus Poonawalla Group; promoter parent acquired control May 2021. No subsidiaries March 2026. Jaguar Advisory Services Private Limited, 48.89% JV with HDI Global SE, manpower/advisory services; held for sale, not a subsidiary. Housing subsidiary GHFL sold July 26, 2023. PFL Employee Welfare Trust included in standalone accounts.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 63.95% | 63.93% | 59.02% | 59.01% |
| Foreign institutions | 10.61% | 10.21% | 10.96% | 11.64% |
| of which mutual funds | 6.19% | 7.03% | 11.22% | 11.75% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Poonawalla Fincorp (NSE: POONAWALLA, BSE 524000) is a non-deposit-taking NBFC (middle layer) controlled by Rising Sun Holdings of the Cyrus Poonawalla group, which acquired it as Magma Fincorp in May 2021. It sold the housing subsidiary in July 2023 and since FY26 reports standalone only; the one JV, Jaguar Advisory, contributes nothing. It lends across 13 products: AUM was Rs74,008cr at Sep-26, of which LAP 27%, instant consumer 20%, mid-market 15%, business loans 10%, prime personal 9%, pre-owned car 7%, with gold, education, CV and consumer durables the new lines. Earnings are spread less funding cost (cost of borrowing 7.76% in Q2FY27), plus fees and assignment gains, less opex and credit cost. Funding is wholesale: bank term loans, NCDs and CP, against an AAA rating that rests partly on group support.
| Peer | Why the dossier compares them |
|---|---|
| Bajaj Finance (BAJFINANCE) | Analyst-selected diversified consumer/MSME NBFC; overlapping personal and durable finance. |
| L&T Finance (LTF) | Analyst-selected diversified retail NBFC; overlapping consumer/MSME secured and unsecured lending. |
| Cholamandalam Investment and Finance Company (CHOLAFIN) | Analyst-selected vehicle and property-backed MSME lending comparator. |
| Shriram Finance (SHRIRAMFIN) | Analyst-selected retail/vehicle MSME lender; funding and credit-cost comparator. |
| Aditya Birla Capital (ABCAPITAL) | Analyst-selected overlapping diversified NBFC consumer/MSME lending; conglomerate scope differs. |
| Muthoot Finance (MUTHOOTFIN) | Analyst-selected secured gold-loan specialist for newly launched gold lending; not whole-franchise equivalent. |
Financial databook
| Profit and loss (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total income (standalone) | 3,152 | 4,223 | 6,796 |
| Total income | 3,152 | 4,223 | 6,796 |
| Interest income | 2,904 | 3,875 | 6,141 |
| Net interest income (interest income less finance cost) | 1,949 | 2,359 | 3,374 |
| Pre-provision operating profit (total income - finance cost - opex) | 1,389 | 1,431 | 1,934 |
| Finance costs incl loan funding | 955.1 | 1,515 | 2,767 |
| Other income | 38.3 | 33.1 | 5.47 |
| Employee benefits expenses | 444.4 | 636.2 | 1,018 |
| Depreciation and amortisation | 59.3 | 65.1 | 94.1 |
| Other expenses | 303.6 | 575.5 | 983.8 |
| Impairment on financial instruments | 72.0 | 1,458 | 1,104 |
| Net loss derecognising financial instruments | n.r. | 94.4 | 105.8 |
| Net loss on fair value changes | n.r. | 13.7 | 0.00 |
| Exceptional items | 1,221 | 0.00 | 0.00 |
| Profit before tax incl exceptional | 2,539 | -135.4 | 723.6 |
| Total tax expense (benefit negative) | 482.6 | -37.1 | 181.8 |
| Standalone profit for year | 2,056 | -98.3 | 541.8 |
| Standalone profit attributable to owners | 2,056 | -98.3 | 541.8 |
| Diluted EPS (₹) | 26.43 | -1.27 | 6.82 |
| Basic EPS (₹) | 26.75 | -1.27 | 6.84 |
| Current tax excluding prior years | 610.1 | 0.00 | 57.3 |
| Deferred tax expense | -117.8 | -37.3 | 124.5 |
| Tax expense prior years | -9.73 | 0.26 | -0.01 |
| Fees and commission income | n.r. | 192.3 | 419.8 |
| Operating expenses (employee+depreciation+other) | 807.4 | 1,277 | 2,095 |
| Non-interest income (total income less interest income) | 247.8 | 348.3 | 654.8 |
| NII incl. fees and other income (company definition) | 2,197 | 2,708 | 4,029 |
| Balance sheet (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Standalone equity net trust adjustments | 8,116 | 8,124 | 10,298 |
| Loan carrying amount net ECL | 22,046 | 32,695 | 55,951 |
| Gross loan assets | 23,045 | 33,637 | 56,790 |
| Debt securities | 1,227 | 1,664 | 14,790 |
| Borrowings other than debt securities | 13,616 | 23,979 | 32,933 |
| Subordinated liabilities | 236.9 | 237.6 | 375.0 |
| Funding debt excluding leases | 15,080 | 25,881 | 48,098 |
| Cash and cash equivalents | 255.2 | 24.7 | 286.0 |
| Standalone total assets | 24,036 | 34,894 | 60,221 |
| Lease liabilities outside funding debt | 135.6 | 200.7 | 337.5 |
| Cash flow (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Net cash used in operating activities | -6,986 | -10,569 | -21,786 |
| Gross PPE intangible purchases positive outflow | 12.7 | 43.3 | 107.0 |
| Cash dividends paid positive outflow | 307.3 | 0.00 | 0.00 |
| Other reported lines (₹ crore) | FY24 | FY25 | FY26 |
|---|---|---|---|
| Closing issued shares before treasury adjustment | 77.46 | 77.80 | 81.28 |
| Closing shares net Welfare Trust shares | 77.06 | 77.29 | 80.80 |
| Weighted average basic shares | 76.86 | 77.18 | n.r. |
| Weighted diluted shares (EPS denominator) | 77.78 | 77.32 | 79.44 |
| Quarterly profit and loss (₹ crore) | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|---|---|---|---|
| Gross total income (revenue from operations + other income) | 1,057 | 1,173 | 1,314 | 1,543 | 1,818 | 2,120 | 2,337 | 2,625 |
| Interest income | 999.1 | 1,068 | 1,185 | 1,402 | 1,660 | 1,894 | 2,118 | 2,416 |
| Finance costs | 385.0 | 458.4 | 546.1 | 637.8 | 738.7 | 844.1 | 921.7 | 1,035 |
| Net interest income (interest income minus finance cost) | 614.1 | 610.1 | 639.3 | 764.4 | 920.9 | 1,050 | 1,197 | 1,380 |
| Fees and commission income | 54.3 | 67.1 | 62.8 | 102.5 | 115.7 | 138.8 | 158.8 | 207.5 |
| Rental income | 3.66 | 3.39 | 3.13 | 2.77 | 1.58 | 1.03 | 1.64 | 0.95 |
| Net gain on fair-value changes | 0.00 | 0.00 | 0.00 | 0.03 | 0.00 | 4.25 | 0.44 | 0.54 |
| Net gain on derecognition of financial instruments | 0.00 | 27.4 | 62.7 | 34.8 | 41.5 | 77.9 | 50.9 | 0.00 |
| Other income (outside revenue from operations) | 0.14 | 7.04 | 0.04 | 0.47 | 0.06 | 4.90 | 6.70 | 0.34 |
| Employee benefits expenses | 148.5 | 173.4 | 213.2 | 256.4 | 284.9 | 263.1 | 293.8 | 301.5 |
| Depreciation and amortisation | 15.3 | 19.5 | 22.0 | 22.5 | 24.1 | 25.5 | 30.4 | 34.5 |
| Other expenses | 127.1 | 190.5 | 208.2 | 239.6 | 243.0 | 293.0 | 306.5 | 376.4 |
| Operating expenses (employee + depreciation + other) | 290.8 | 383.4 | 443.4 | 518.4 | 552.0 | 581.6 | 630.7 | 712.4 |
| Pre-provision operating profit | 381.4 | 331.5 | 324.5 | 386.6 | 527.7 | 694.7 | 784.6 | 877.0 |
| Impairment on financial instruments | 347.9 | 158.2 | 241.1 | 257.7 | 295.5 | 309.9 | 353.6 | 346.4 |
| Net loss on derecognition of financial instruments | 0.00 | 94.4 | 0.00 | 30.0 | 32.1 | 43.7 | 19.8 | 29.3 |
| Net loss on fair-value changes | 8.31 | -1.31 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Credit cost (impairment + derecognition loss + fair-value loss) | 356.2 | 251.3 | 241.1 | 287.7 | 327.5 | 353.7 | 373.3 | 375.7 |
| Profit before tax | 25.2 | 80.2 | 83.4 | 98.9 | 200.2 | 341.1 | 411.3 | 501.3 |
| Current tax (current period) | -2.60 | -22.3 | 13.3 | 15.7 | 31.9 | -3.52 | 114.7 | 139.8 |
| Tax for earlier periods | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.01 | -0.19 | 0.00 |
| Deferred tax | 9.05 | 40.2 | 7.56 | 8.96 | 18.1 | 89.8 | -11.0 | -13.4 |
| Total tax expense | 6.45 | 17.9 | 20.8 | 24.7 | 50.0 | 86.3 | 103.6 | 126.5 |
| Profit after tax | 18.7 | 62.3 | 62.6 | 74.2 | 150.2 | 254.8 | 307.7 | 374.9 |
| PAT attributable to owners (standalone: equals PAT) | 18.7 | 62.3 | 62.6 | 74.2 | 150.2 | 254.8 | 307.7 | 374.9 |
| Basic EPS (not annualised) (₹) | 0.24 | 0.81 | 0.81 | 0.95 | 1.86 | 3.15 | 3.55 | 4.27 |
| Diluted EPS (not annualised) (₹) | 0.24 | 0.81 | 0.81 | 0.95 | 1.85 | 3.14 | 3.54 | 4.26 |
| Non-interest income (total income less interest income) | 58.1 | 104.8 | 128.7 | 140.5 | 158.8 | 226.8 | 218.5 | 209.3 |
Standalone, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue growth | 34.0% | 60.9% | |
| Net margin | 65.2% | -2.3% | 8.0% |
| Return on equity | 25.3% | -1.2% | 5.9% |
| Return on assets | 8.6% | -0.3% | 1.1% |
| Dividend payout | 14.9% | -0.0% | 0.0% |
| EPS, diluted (₹) | 26.43 | -1.27 | 6.82 |
| Book value per share (₹) | 104.8 | 104.4 | 126.7 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on assets: net profit to owners / average total assets.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 14 Oct 2026); market data at the close of 14 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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Report history
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 14 Oct 2026; page updated 25 Oct 2026.
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