Arman Financial Services Limited (NSE: ARMANFIN), a Gujarat-based Non-Banking Financial Company (NBFC), announced its financial results for the quarter ended 30th September 2026. The company reported a Profit After Tax (PAT) of INR 51 crore, marking a 544% year-on-year growth. This impressive performance is reflected across various financial metrics.

Key Financial Highlights

The consolidated Assets Under Management (AUM) stood at INR 3,209 crore, registering a growth of 51% year-on-year and 10% quarter-on-quarter. The company’s consolidated disbursements for Q2 FY27 stood at INR 818 crore, registering a growth of 72% year-on-year. The Net Total Income for Q2 FY27 stood at INR 235 crore, while the Pre-Provision Operating Profit (PPoP) stood at INR 95 crore.

Segment-wise Performance

In the MSME, Two-Wheeler, and Loan Against Property segments, the Assets Under Management (AUM) stood at INR 784 crore. The total disbursements for these segments stood at INR 164 crore in Q2 FY27. The Profit After Tax (PAT) improved by 95% year-on-year to INR 17 crore.

The microfinance segment, Namra, reported an AUM of INR 2,424 crore, registering a growth of 61% year-on-year. Disbursements during Q2 FY27 stood at INR 654 crore, supported by healthy traction in the Individual Loan segment. The Profit After Tax (PAT) stood at INR 34 crore in Q2 FY27, compared to a loss of INR 1 crore in Q2 FY26.

Commenting on the Company’s performance, Mr. Aalok Patel, Vice Chairman & Managing Director, Arman Financial Services said, “Q2 FY27 has been an important quarter for Arman, with our consolidated AUM crossing INR 3,000 crore for the first time and our highest-ever quarterly profit of INR 51 crore. More importantly, the improvement in the operating environment that we started seeing in the second half of FY26 has now continued for four consecutive quarters. We are seeing growth, improving profitability, and better asset quality at the same time. I believe this is a reflection of the changes we have made to our underwriting and collection practices over the past two years, particularly during what has been a very difficult period for the microfinance industry. Collection trends have remained largely stable across our operating geographies, fresh delinquencies have continued to decline, and overall repayment behaviour has improved. While the external environment has certainly helped, I believe a large part of this improvement is also attributable to the changes we have made internally. We continue to be very selective in our lending, and our

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Arman Financial Services Limited

Arman Financial Services Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Arman falls 21.6% over three months and has not found a floor yet. Industry-leading margins of 30.8% reflect exceptional pricing power and operational efficiency. No meaningful dividend — total return is entirely dependent on capital appreciation. RSI stands at 21, well into oversold territory. Yet sellers still dominated on 19 of recent sessions versus 11 for buyers, so the pressure has not fully lifted. Revenue grows at 14.7% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Arman Financial Services Limited.

Northern Arc Capital Limited (NORTHARC) announced its stellar performance for the quarter ended September 30, 2026, highlighting a remarkable growth in its lending assets under management (AUM). The company’s lending AUM surged 34% year-on-year (YoY) to INR 19,003 Crore, underscoring its strong business momentum.

Asset Growth

The company’s direct-to-customer (D2C) lending AUM reached INR 12,502 Crore, representing 66% of the overall AUM. The gross transaction volume for the first half of FY27 grew by 38% YoY to INR 22,303 Crore, reflecting robust demand for financial services.

Financial Performance

NORTHARC’s net interest income grew by 32% YoY to INR 425 Crore in Q2FY27, driven by a stable operational expense ratio of 3.6%. The profit after tax (PAT) rose by 41% YoY to INR 129 Crore, with a return on assets (RoA) of 2.82% and a return on equity (RoE) of 12.4%.

Commenting on the results, Ashish Mehrotra, MD & CEO of Northern Arc Capital, stated, ‘The first half of FY27 reflects continued progress in scaling our diversified financial services business.’ He added, ‘As we enter the second half of FY27, our priorities remain centred on sustaining growth across business verticals, expanding fee-led revenue streams, and maintaining a cautiously optimistic approach to lending in selected geographies impacted by drought conditions.’

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Northern Arc Capital Limited

Northern Arc Capital Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Northern moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.55 signals undervaluation relative to growth. It is a potential re-rating candidate. D/E reaches 2.87. High leverage in this environment is a material risk the market cannot ignore. The stock holds at 59% of its 52-week range with RSI at 40. In other words, neither side has a clear edge right now. Revenue grows at 30.0% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Northern Arc Capital Limited.

Muthoot Finance Limited (MUTHOOTFIN) has reported impressive financial results for the half year ended September 30, 2026. The company’s consolidated Loan Assets Under Management (AUM) surged 42% year-on-year (YoY) to ₹ 2,09,317 crores, marking a significant growth compared to the ₹ 1,47,673 crores in H1 FY26. Moreover, the consolidated Profit After Tax (PAT) for the half year increased by 39% YoY to ₹ 6,103 crores, up from ₹ 4,386 crores in the same period last year.

Key Highlights

Several key milestones were achieved during the period. Notably, the consolidated loan AUM grew by ₹ 61,644 crores, while the standalone loan AUM grew by ₹ 55,505 crores. The consolidated gold loan AUM also saw a robust 46% YoY increase to ₹ 1,93,212 crores. Additionally, the company’s subsidiaries performed exceptionally well, contributing significantly to the overall growth.

Subsidiary Performance

Muthoot Homefin (India) Ltd. reported a 7% YoY increase in loan AUM to ₹ 3,460 crores, and a 9% rise in profit after tax to ₹ 11 crores. Belstar Microfinance Limited saw a 2% increase in loan AUM to ₹ 7,876 crores, and an 8% rise in total revenue to ₹ 906 crores. Muthoot Money Ltd. experienced a phenomenal 99% YoY increase in loan AUM to ₹ 12,716 crores, and a 242% rise in profit after tax to ₹ 364 crores. Asia Asset Finance PLC, Sri Lanka, reported a 39% increase in loan AUM and a 110% rise in profit after tax.

As a result, Muthoot Finance Limited continues to strengthen its position in the financial sector, driven by robust growth across its core segments and subsidiaries. The company’s strategic initiatives and operational efficiencies are expected to further bolster its performance in the coming quarters.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Muthoot Finance Limited

Muthoot Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.

Muthoot falls 13.1% over three months and has not found a floor yet. The PEG of 0.21 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E reaches 3.67. High leverage in this environment is a material risk the market cannot ignore. The stock sits at 2% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 38.0% and profits at 43.1% CAGR — a genuinely strong business. Nevertheless, the stock drops 13.1% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of Muthoot Finance Limited.