WEBSITE BSE:539174 NSE: HELPAGE Inc. Year: 1982 Industry: Finance - NBFC My Bucket: Add Stock
Last updated: 10:37
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1. Business Overview
Helpage Finlease Ltd. operates as a Non-Banking Financial Company (NBFC) in India. Its core business model involves providing various financial services, primarily lending and financing activities, without a full banking license. The company generates revenue primarily through interest income earned on the loans and advances it extends to customers, as well as fees for other financial services. As an NBFC, it typically caters to segments of the market that may have limited access to traditional bank credit, or offers specialized financial products.
2. Key Segments / Revenue Mix
Without specific financial disclosures, the exact key segments and revenue mix for Helpage Finlease Ltd. are not publicly available. Generally, NBFCs in India diversify across various lending products which could include secured loans (e.g., vehicle finance, gold loans, loans against property), unsecured loans (e.g., personal loans, small business loans), and potentially asset leasing (given "Finlease" in the name). For most NBFCs, interest income from these lending activities constitutes the overwhelming majority of their revenue.
3. Industry & Positioning
The Indian NBFC sector is highly diverse and competitive, comprising a wide range of players from large, systemically important institutions to smaller, regional, or niche-focused entities. The industry is regulated by the Reserve Bank of India (RBI). Helpage Finlease Ltd., like many smaller NBFCs, likely competes by focusing on specific customer segments, geographies, or product niches where it can offer more agile and customized solutions compared to larger banks and NBFCs. Its positioning would depend on its chosen target market and operational scale, generally operating as a focused player rather than a broad-based financial services provider.
4. Competitive Advantage (Moat)
For a smaller NBFC like Helpage Finlease Ltd., building a strong, durable competitive advantage (moat) can be challenging. Potential advantages might include:
Niche Expertise: Developing deep understanding and efficient underwriting in a specific asset class or customer segment.
Local Market Knowledge: Strong relationships and understanding of credit behavior in particular geographies.
Agility & Customer Service: Ability to offer quicker loan approvals and more personalized service compared to larger institutions.
However, barriers to entry are relatively low, and smaller NBFCs generally face intense competition, making it difficult to establish significant moats based on scale, brand, or cost of funds.
5. Growth Drivers
Key factors that could drive growth for Helpage Finlease Ltd. over the next 3-5 years include:
Rising Credit Demand: India's growing economy and increasing financialization drive demand for credit across retail, SME, and corporate segments.
Financial Inclusion: Expansion into underserved markets and customer segments.
Digital Adoption: Leveraging technology for customer acquisition, credit assessment, and operational efficiency.
Geographic Expansion: Increasing presence in new regions or strengthening existing ones.
Product Diversification: Introducing new and relevant financial products to cater to evolving customer needs.
6. Risks
Helpage Finlease Ltd. faces several inherent risks common to the NBFC sector:
Credit Risk: Deterioration in asset quality, leading to higher Non-Performing Assets (NPAs) and loan losses, especially sensitive to economic downturns.
Interest Rate Risk: Mismatch between borrowing and lending rates, or sudden increases in the cost of funds, impacting net interest margins.
Liquidity Risk: Inability to raise sufficient funds to meet financial obligations or disburse new loans, particularly during periods of tight credit markets.
Regulatory Risk: Changes in RBI regulations concerning capital adequacy, lending norms, provisioning requirements, or corporate governance.
Competition: Intense competition from banks, other NBFCs, and emerging fintech players, potentially leading to pricing pressure and market share erosion.
Economic Slowdown: A general slowdown in the Indian economy can negatively impact borrowers' repayment capacity and reduce credit demand.
7. Management & Ownership
Without specific details from the company's annual reports or public filings, a detailed analysis of management quality and ownership structure is not possible. Typically, smaller Indian NBFCs are promoter-driven, with a significant stake held by the founding family or group. Management quality is crucial for an NBFC, relying on experienced professionals with strong risk management capabilities, a clear strategic vision, and adherence to regulatory compliance.
8. Outlook
Helpage Finlease Ltd. operates in a dynamic and growing Indian financial services market, which presents opportunities due to strong underlying credit demand. The company's future performance will largely depend on its ability to effectively manage credit risk, ensure stable access to funding, and navigate a highly competitive landscape. Success will hinge on a clear strategic focus, robust underwriting practices, and efficient operational execution within its chosen niches. However, like all NBFCs, it remains susceptible to economic fluctuations, changes in interest rates, and evolving regulatory environments, necessitating vigilant risk management and prudent capital allocation.
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Market Cap ₹22 Cr.
Stock P/E 14.8
P/B 1.2
Current Price ₹22
Book Value ₹ 19.1
Face Value 10
52W High ₹33.8
Dividend Yield 0%
52W Low ₹ 15.2
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 3 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 3 |
| Total Expenditure | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Operating Profit | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 3 |
| Interest Expense | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Adjusted Earnings Per Share | 0.4 | 0.3 | 0 | 0.2 | 0.3 | 0.3 | 0.6 | 0.8 | 0.9 | 0.9 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 3 | 3 | 5 | 9 | 12 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 3 | 3 | 5 | 9 | 12 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Operating Profit | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 4 | 8 | 12 |
| Interest Expense | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 1 | 2 | 6 | 8 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 4 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 4 |
| Adjusted Earnings Per Share | 0 | 0 | 0.1 | 0 | 0.3 | 0.5 | 0.5 | 0.6 | 0.6 | 0.9 | 1.5 | 3.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 80% | 44% | 25% | 0% |
| Operating Profit CAGR | 100% | 59% | 32% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 31% | 29% | 14% | NA% |
| ROE Average | 9% | 6% | 6% | 3% |
| ROCE Average | 15% | 9% | 8% | 5% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 4 | 4 | 4 | 12 | 12 | 13 | 13 | 14 | 14 | 15 | 16 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 11 | 23 | 23 | 28 | 28 | 27 | 34 | 43 |
| Current Liability | 1 | 0 | 1 | 1 | 2 | 3 | 4 | 3 | 2 | 12 | 43 |
| Other Liabilities & Provisions | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 4 | 4 | 5 | 23 | 38 | 40 | 46 | 45 | 43 | 62 | 103 |
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Assets | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 |
| Other Loans | 4 | 3 | 4 | 14 | 33 | 34 | 38 | 38 | 34 | 52 | 93 |
| Other Non Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Assets | 0 | 0 | 0 | 9 | 4 | 5 | 7 | 7 | 9 | 9 | 10 |
| Total Assets | 4 | 4 | 5 | 23 | 38 | 40 | 46 | 45 | 43 | 62 | 103 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 8 | 1 | 1 | 0 | 0 | 1 | 1 |
| Cash Flow from Operating Activities | -3 | 0 | -0 | 1 | 1 | 2 | 2 | 0 | 0 | 3 | 15 |
| Cash Flow from Investing Activities | -0 | 0 | 0 | -10 | -20 | -0 | -5 | 0 | 4 | -18 | -41 |
| Cash Flow from Financing Activities | 3 | 0 | 0 | 17 | 11 | -2 | 3 | -1 | -3 | 15 | 31 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 8 | -7 | -0 | -0 | -0 | 1 | -0 | 5 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 8 | 1 | 1 | 0 | 0 | 1 | 1 | 6 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 0 | 0.1 | 0.05 | 0.34 | 0.49 | 0.47 | 0.65 | 0.61 | 0.88 | 1.48 |
| CEPS(Rs) | 0.12 | 0.11 | 0.13 | 0.06 | 0.42 | 0.57 | 0.56 | 0.75 | 0.72 | 0.99 | 1.64 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 11.28 | 12.15 | 12.49 | 12.98 | 13.27 | 13.92 | 14.55 | 15.41 | 16.51 |
| Net Profit Margin | 16.04 | 11.28 | 12.32 | 5.93 | 15.24 | 17.58 | 15.99 | 22.54 | 21.76 | 19.19 | 17.06 |
| Operating Margin | 26.22 | 20.4 | 18.11 | 61.02 | 85.56 | 82.36 | 81.58 | 79.42 | 76.83 | 74.98 | 91.71 |
| PBT Margin | 26.02 | 20.36 | 18.06 | 7.99 | 20.6 | 23.75 | 20.45 | 31.4 | 29.08 | 26.32 | 23.93 |
| ROA(%) | 1.21 | 0.6 | 0.78 | 0.35 | 1.1 | 1.25 | 1.1 | 1.42 | 1.37 | 1.66 | 1.79 |
| ROE(%) | 1.42 | 0.66 | 0.89 | 0.63 | 2.74 | 3.82 | 3.6 | 4.77 | 4.3 | 5.86 | 9.29 |
| ROCE(%) | 2.25 | 1.18 | 1.31 | 3.86 | 6.43 | 6.26 | 6.17 | 5.44 | 5.15 | 7.52 | 14.51 |
| Price/Earnings(x) | 0 | 0 | 0 | 0 | 0 | 46.74 | 25.56 | 18.61 | 26.97 | 20.5 | 9.32 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 1.75 | 0.91 | 0.87 | 1.13 | 1.17 | 0.84 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 17.22 | 13.91 | 11.73 | 14.52 | 14.62 | 16.42 | 13.48 | 14.1 | 15.07 | 11.29 | 5.94 |
| EV/Core EBITDA(x) | 56.58 | 52.6 | 52.45 | 23.44 | 16.36 | 19.23 | 15.95 | 17 | 18.64 | 14.58 | 6.35 |
| Interest Earned Growth(%) | 160 | 10.73 | 24.22 | 218.96 | 165.15 | 24.86 | 6.65 | -2.64 | -2.21 | 62.71 | 89.97 |
| Net Profit Growth | 119.37 | -22.12 | 35.58 | 53.61 | 581.3 | 43.99 | -2.98 | 37.23 | -5.59 | 43.51 | 68.92 |
| EPS Growth(%) | 0 | 0 | 0 | -50.33 | 581.39 | 43.97 | -2.97 | 37.22 | -5.59 | 43.5 | 68.91 |
| Interest Coverage(x) % | 132.91 | 513.19 | 342.43 | 1.15 | 1.32 | 1.41 | 1.33 | 1.65 | 1.61 | 1.54 | 1.35 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.64 | 37.64 | 37.64 | 37.64 | 37.64 | 37.64 | 37.64 | 37.64 | 37.84 | 37.84 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 62.36 | 62.36 | 62.36 | 62.36 | 62.36 | 62.36 | 62.36 | 62.36 | 62.16 | 62.16 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.38 | 0.38 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 | 0.62 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
* The pros and cons are machine generated.
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