Akme Fintrade (India) Limited (AFIL)
₹8.00 -1.11% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Akme Fintrade's net interest income was ₹24.3 Cr (+15.6% year on year, -10.1% on the previous quarter), and net profit ₹11.6 Cr (+15.7% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹24.3 | +15.6% | -10.1% |
| Operating profit | ₹14.1 | — | — |
| Net profit | ₹11.6 | +15.7% | -3.5% |
| EPS (₹) | 0.27 | +17.4% | -6.9% |
AFIL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 61.83% of the AFIL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 71.54%. That is close to its usual level. Turnover was only ₹11 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 50.3% · 60.1% · 91.2% · 82.8% · 61.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Akme Fintrade's board has approved the private placement of secured, listed, redeemable NCDs of up to ₹50 crore split equally across Series A1 (₹25 crore) and Series A2 (₹25 crore). The Series A1 debentures carry a tenure of up to 24 months, while Series A2 has a tenure of up to 30 months, both requiring a minimum security cover of 1.10x over loan receivables. Additionally, the Board has authorized its Loan & Investment Committee to manage an overall NCD issuance limit of up to ₹300 crore. The initial ₹50 crore issuance represents approximately 31.3% of the company's TTM revenue of ₹160 crore.
- Approved issuance of secured NCDs up to ₹50 Crores in Series A1 and Series A2
- Series A1 issue size up to ₹25 Crores with a tenure of up to 24 months
- Series A2 issue size up to ₹25 Crores with a tenure of up to 30 months
- Minimum security cover of 1.10x mandated over present and future loan receivables
- Authorized Loan & Investment Committee to determine terms for NCD issuance up to ₹300 crore
Akme Fintrade's board has approved the private placement of secured, listed, redeemable NCDs of up to ₹50 crore split equally across Series A1 (₹25 crore) and Series A2 (₹25 crore). The Series A1 debentures carry a tenure of up to 24 months, while Series A2 has a tenure of up to 30 months, both requiring a minimum security cover of 1.10x over loan receivables. Additionally, the Board has authorized its Loan & Investment Committee to manage an overall NCD issuance limit of up to ₹300 crore. The initial ₹50 crore issuance represents approximately 31.3% of the company's TTM revenue of ₹160 crore.
- Approved issuance of secured NCDs up to ₹50 Crores in Series A1 and Series A2
- Series A1 issue size up to ₹25 Crores with a tenure of up to 24 months
- Series A2 issue size up to ₹25 Crores with a tenure of up to 30 months
- Minimum security cover of 1.10x mandated over present and future loan receivables
- Authorized Loan & Investment Committee to determine terms for NCD issuance up to ₹300 crore
Akme Fintrade (India) Limited has received trading approvals from NSE and BSE for 1,30,00,000 equity shares (face value Re. 1/- each) allotted to non-promoters upon conversion of preferential warrants. The allotment comprises two tranches: 30,00,000 shares at a premium of Rs. 10.10 per share and 1,00,00,000 shares at a premium of Rs. 7.00 per share. Both tranches carry a lock-in period up to April 15, 2027. Following this conversion, AFIL's total listed paid-up equity capital increases to Rs. 43,97,49,960 (43.97 crore shares of Re. 1/- each).
- Trading approval granted for 1,30,00,000 equity shares with face value of Re. 1/- each
- Allotment includes 30,00,000 shares at Rs. 10.10 premium and 1,00,00,000 shares at Rs. 7.00 premium
- Company listed equity share capital increases to Rs. 43,97,49,960 comprising 43,97,49,960 shares
- All converted shares are locked in until April 15, 2027
- Trading and dealings admitted on both exchanges effective October 06, 2026
Akme Fintrade (India) Limited has received a sanction for a term loan of ₹10.00 crore from City Union Bank Limited. This loan represents approximately 6.25% of the company's TTM revenue of ₹160 crore and about 2.36% of its net worth of ₹424 crore. For an NBFC targeting an expansion of AUM toward ₹950 crore, this debt facility supports ongoing lending disbursements. Specific terms including the interest rate, tenor, and security have not been disclosed.
- City Union Bank Limited sanctioned a term loan of ₹10,00,00,000/- (₹10 crore)
- Sanction announced on September 30, 2026
- Loan amount is ~6.25% of AFIL's TTM revenue (₹160 crore)
- Loan amount represents ~2.36% of net worth (₹424 crore)
Akme Fintrade (India) Limited has allotted 50,000 secured, listed, rated, redeemable Non-Convertible Debentures (NCDs) aggregating to ₹50 Crore via private placement on September 10, 2026. The issue comprises Series A1 (₹25 Crore at an 11.40% monthly coupon, maturing in September 2028) and Series A2 (₹25 Crore at an 11.60% monthly coupon, maturing in March 2029). The ₹50 Crore borrowing is substantial, representing approximately 31.25% of TTM revenue (₹160 Cr) and 13.2% of current market capitalization (₹378 Cr). The instruments carry a minimum security cover of 1.10x backed by loan receivables.
- Allotted 50,000 NCDs of face value ₹10,000 each aggregating to ₹50,00,00,000
- Series A1 raises ₹25,00,00,000 with a 24-month tenure at an 11.40% monthly coupon
- Series A2 raises ₹25,00,00,000 with a 30-month tenure at an 11.60% monthly coupon
- Maintains a minimum security cover of 1.10x over eligible loan receivables
Akme Fintrade (India) Limited approved the allotment of 50,000 senior secured non-convertible debentures (NCDs) aggregating to ₹50 crore on a private placement basis. The issue comprises two series: Series A1 worth ₹25 crore with a 24-month tenure at an 11.40% monthly coupon, and Series A2 worth ₹25 crore with a 30-month tenure at an 11.60% monthly coupon. The ₹50 crore fundraise is material, representing approximately 13.2% of the company's ₹378 crore market cap and 31.3% of its TTM revenue (₹160 crore). Both series will be listed on the NSE and carry an asset cover requirement of at least 1.10x on loan receivables.
- Allotted 50,000 secured NCDs of face value ₹10,000 each aggregating to ₹50,00,00,000
- Series A1 size of ₹25,00,00,000 with a tenure of 24 months at 11.40% interest maturing September 10, 2028
- Series A2 size of ₹25,00,00,000 with a tenure of 30 months at 11.60% interest maturing March 10, 2029
- Requires minimum security cover of 1.10x on present and future loan receivables
Akme Fintrade (India) Limited's Loan & Investment Committee has approved the issuance of listed, rated, senior, secured, transferable, redeemable Non-Convertible Debentures (NCDs) up to ₹50 crore on a private placement basis. The issuance is divided equally into Series A1 (up to ₹25 crore) and Series A2 (up to ₹25 crore), both proposed to be listed on the NSE. The debentures require a minimum security cover of 1.10x over present and future loan receivables. The fundraise represents ~12.2% of current market capitalization (₹410 crore) and ~31.3% of TTM revenue (₹160 crore).
- Total NCD issuance of up to ₹50 crore split across Series A1 (₹25 crore) and Series A2 (₹25 crore)
- Proposed to be listed on the National Stock Exchange of India (NSE)
- Mandates a minimum asset security cover of at least 1.10x over loan receivables
- Carries a 2.00% p.a. penal interest over the coupon for payment defaults, covenant breaches, or execution delays
Akme Fintrade (India) Limited has received a sanction for a term loan of ₹15.00 crore from Tourism Finance Corporation of India Limited. This credit facility represents approximately 9.4% of AFIL's TTM revenue (₹160 crore) and 3.8% of its market capitalization (₹391 crore). The debt sanction provides additional liquidity to support the NBFC's loan disbursement pipeline and ongoing AUM expansion. Specific borrowing terms such as interest rate and tenure were not disclosed in the filing.
- Sanctioned term loan amount of ₹15,00,00,000 (₹15 crore).
- Credit facility granted by Tourism Finance Corporation of India Limited.
- Sanctioned loan represents ~9.4% of TTM revenue of ₹160 crore.
- Filing communicated to exchanges on August 18, 2026.
Akme Fintrade (India) Limited (AFIL) has forfeited Rs 5.55 crore following the lapse of 20,00,000 convertible warrants issued to non-promoters. The warrants were originally allotted in January 2025 at an issue price of Rs 111 each, but the holders failed to pay the remaining 75% balance by the July 29, 2026 deadline. Consequently, the 25% upfront subscription amount has been retained by the company, and no new equity shares will be issued. This failed fundraise occurs as the current market price of Rs 9.2 is significantly below the warrant exercise price of Rs 111.
- Forfeiture of Rs 5.55 crore representing the 25% upfront payment for 20,00,000 warrants.
- Total planned fundraise of Rs 22.20 crore via these warrants has been cancelled.
- Warrant exercise price was fixed at Rs 111, which is over 10x the current market price of Rs 9.2.
- Zero warrants were exercised by the three non-promoter holders (Subhash P Rathod and family) before the 18-month expiry.
- The forfeited amount of Rs 5.55 crore represents approximately 13.2% of TTM PAT.
Akme Fintrade (India) Limited (AFIL) has announced the results of its 30th Annual General Meeting held on August 04, 2026. Shareholders approved all 10 resolutions with over 99.99% majority, including the adoption of FY26 audited financial statements showing a PAT of Rs 42 Cr. A critical special resolution was passed to increase the limit for creation of charges on company assets up to Rs 1,200 Crore to secure future borrowings. This borrowing headroom is significant, representing approximately 2.8x the company's current net worth of Rs 424 Cr.
- Shareholders approved a special resolution to increase the asset charge limit to Rs 1,200 Crore to secure borrowings.
- The company received approval for the waiver of recovery of excess managerial remuneration paid to Executive Director Rajendra Chittora for FY25-26.
- Total of 20,23,46,261 votes were polled across resolutions, with near-unanimous approval (99.99%+).
- The cut-off date for determining voting eligibility was July 28, 2026.
- Approved the appointment of Statutory Auditors and fixed their remuneration for the upcoming term.
Akme Fintrade (India) Limited (AFIL) conducted its 30th Annual General Meeting on August 04, 2026, where it sought shareholder approval for several critical resolutions. Most notably, the company proposed increasing the limit for creation of charges on its assets to Rs 1,200 Crore to secure future borrowings, which is approximately 2.8x its current net worth of Rs 424 Cr. Other key items included increasing the authorized share capital, approving material related party transactions with Akme Build Estate Limited, and seeking a waiver for excess managerial remuneration paid to Executive Director Rajendra Chittora during FY26.
- Proposed increase in asset charge limit to Rs 1,200 Crore to secure borrowings.
- Resolution to increase the Authorised Share Capital and subsequent alteration of the Memorandum of Association.
- Approval sought for material related party transactions with Akme Build Estate Limited.
- Waiver requested for recovery of excess managerial remuneration paid to Executive Director Rajendra Chittora for FY26.
- The meeting was conducted via Video Conferencing and concluded within 25 minutes (12:30 PM to 12:55 PM).
Akme Fintrade (India) Limited (AFIL) has secured a sanction for a Rs 20 crore term loan from the Small Industries Development Bank of India (SIDBI). This loan amount represents approximately 13.3% of the company's TTM revenue of Rs 150 crore and 4.7% of its net worth of Rs 424 crore. The funding is a key step in supporting the company's aggressive AUM growth target, which aims to scale from Rs 618.61 crore in FY25 to Rs 950 crore in FY26. Securing credit from a developmental institution like SIDBI typically suggests a stable source of liquidity for the company's SME-focused lending operations.
- Sanction of a Term Loan amounting to Rs 20,00,00,000 (Rs 20 Cr) from SIDBI.
- Loan amount constitutes approximately 13.3% of the TTM revenue of Rs 150 Cr.
- Funding supports the company's guided AUM expansion to Rs 950 Cr for FY26.
- The sanction aligns with the company's strategy to scale SME and rural vehicle finance segments.
Akme Fintrade (India) Limited (AFIL) has entered a strategic partnership with Shriram General Insurance to distribute general insurance products. This move leverages AFIL's existing network of 29 branches and its customer base of over 200,000 borrowers to generate fee-based income. The partnership aligns with the company's strategy to diversify revenue streams beyond lending, specifically targeting semi-urban and rural markets. While the financial impact is not yet quantified, it supports AFIL's broader goal of reaching a Rs 950 Cr AUM by FY26.
- Strategic partnership formed with Shriram General Insurance for product distribution.
- Utilizes existing infrastructure of 29 branches across 5 states.
- Targets a granular customer base of over 200,000 existing borrowers.
- Aims to contribute to the guided AUM growth from Rs 618.61 Cr in FY25 to Rs 950 Cr in FY26.
Akme Fintrade (AFIL) reported a strong Q1 FY27 with Assets Under Management (AUM) reaching Rs 965.07 Cr, a 42.96% YoY increase, surpassing its previous FY26 guidance of Rs 950 Cr. Profit After Tax (PAT) grew 20.40% YoY to Rs 11.57 Cr, although it saw a sequential (QoQ) decline of 5.70%. The company maintains a very high Capital Adequacy Ratio (CAR) of 46.37% and a healthy Net Interest Margin (NIM) of 11.77%. Asset quality remained stable with GNPA at 2.91% compared to 2.92% in the previous year.
- AUM increased 42.96% YoY to Rs 965.07 Cr as of June 30, 2026
- Interest Income rose 34.17% YoY to Rs 41.07 Cr for the quarter
- Capital Adequacy Ratio remains robust at 46.37% (Tier I at 45.54%)
- Net Interest Margin (NIM) maintained at a high level of 11.77%
- Credit Cost improved significantly, dropping 91 BPS YoY to 0.31%
Akme Fintrade (India) Limited (AFIL) has allotted 82,00,000 equity shares following the conversion of warrants issued in February 2025, resulting in a fresh capital inflow of Rs 6.83 Cr (75% balance payment). The company also reported its Q1 FY27 results, with total income rising to Rs 47.77 Cr and Net Profit reaching Rs 9.61 Cr, maintaining steady margins. Notably, the company has transitioned from NBFC-Base Layer to NBFC-Middle Layer under RBI's Scale Based Regulation, reflecting its growing asset size. Additionally, Mr. Dipesh Jain has been appointed as the Chief Operating Officer to lead the next phase of growth.
- Allotment of 82,00,000 equity shares at an issue price of Rs 11.10 per share (post-split adjustment).
- Receipt of Rs 6.83 Cr as the final 75% consideration for the warrant conversion from promoters and public investors.
- Q1 FY27 Net Profit reported at Rs 9.61 Cr, a 24% increase compared to Rs 7.73 Cr in the year-ago quarter.
- Total Income for the quarter ended June 2026 stood at Rs 47.77 Cr vs Rs 37.93 Cr in June 2025.
- Official transition to NBFC-Middle Layer (NBFC-ML) status as per RBI's regulatory framework.
Financial Performance
Revenue Growth by Segment
Total Interest Income grew by 51.37% YoY to INR 64.77 Cr in H1FY26 compared to INR 42.79 Cr in H1FY25. This growth is primarily driven by the LAP/SME segment and a 54.80% YoY increase in total Assets Under Management (AUM) which reached INR 767.46 Cr.
Geographic Revenue Split
The portfolio is heavily concentrated in North/West India with Rajasthan contributing 63.88% of AUM as of FY25. Other regions include Gujarat (12.15%), Madhya Pradesh (11.73%), and Maharashtra (10.50%).
Profitability Margins
Net Interest Margin (NIM) improved to 11.24% in FY24 from 10.26% in FY23. Return on Average Assets (RoAA) stood at 5.35% in H1FY26, while Return on Average Net Worth (RoNW) was 10.03%. Profit After Tax (PAT) for FY25 grew 79.3% YoY to INR 33.23 Cr.
EBITDA Margin
Core profitability is reflected in the ROTA which improved to 4.58% in FY24 from 3.88% in FY23. The cost-to-income ratio was significantly rationalized to 34.86% in FY24 from 46.49% in FY23 due to improved operating efficiencies.
Capital Expenditure
As an NBFC, capital is deployed into the loan book. The company raised INR 132 Cr through an IPO in June 2024 and is raising INR 45 Cr through convertible warrants to support AUM growth toward a target of INR 950 Cr by FY26.
Credit Rating & Borrowing
The company holds an IVR BBB+ / Stable rating from Infomerics and a similar rating from Acuité. Interest expenses increased by 54.88% YoY to INR 24.44 Cr in H1FY26, reflecting the increased scale of borrowings to fund the expanding loan book.
Operational Drivers
Raw Materials
Not applicable as AFIL is a financial services provider; however, its 'cost of goods' is the Cost of Funds, which accounts for approximately 37.7% of total interest income in H1FY26.
Import Sources
Not applicable. Capital is sourced from domestic equity markets (IPO), warrants, and domestic lenders like SIDBI.
Key Suppliers
Capital providers include Small Industries Development Bank of India (SIDBI) and various domestic banks/NCD investors.
Capacity Expansion
Current physical presence includes 29 branches across 5 states. The company plans to expand its dealer network and leverage its 'AASAANLOANS' digital platform to scale from 200,000 current customers to 5 million by 2030.
Raw Material Costs
Interest expenses (cost of capital) rose 54.88% YoY to INR 24.44 Cr in H1FY26. Procurement strategy involves diversifying into NCDs and ECBs to optimize borrowing costs.
Manufacturing Efficiency
Operational efficiency is measured by the cost-to-income ratio, which improved to 34.86% in FY24. Branch productivity is a key driver for the 'Hub and Spoke' business model.
Logistics & Distribution
Distribution is handled through 29 physical branches and a digital lending platform to reduce customer acquisition costs.
Strategic Growth
Expected Growth Rate
53.70%
Growth Strategy
Growth will be achieved by scaling AUM from INR 618.61 Cr in FY25 to a guided INR 950 Cr in FY26 through geographic expansion beyond Rajasthan, increasing the dealer network for vehicle loans, and cross-selling gold loans and insurance products to the existing 200,000+ customer base.
Products & Services
Two-wheeler loans, four-wheeler loans, commercial vehicle financing, Loan Against Property (LAP) for SMEs, and newly launched Gold Loans and Insurance distribution.
Brand Portfolio
Akme Fintrade India Limited (AFIL), AASAANLOANS (Digital Platform).
New Products/Services
Gold Loans and Insurance sales are expected to diversify revenue streams starting Q4 FY26, leveraging the existing branch network for higher fee-based income.
Market Expansion
Expanding footprint across Tier II and Tier III markets in Gujarat, Maharashtra, and Madhya Pradesh to reduce Rajasthan-specific concentration risk.
Market Share & Ranking
AFIL is a niche player in the Rajasthan NBFC market, specifically targeting the underbanked SME and rural vehicle finance segments.
Strategic Alliances
Partnerships with vehicle dealers across five states to act as primary origination points for the 2W and 4W financing portfolio.
External Factors
Industry Trends
The 2W financing market is expected to grow 18-19% in FY26. AFIL is positioning itself to capture this through digital transformation and a shift toward multi-product financial services (Gold/Insurance).
Competitive Landscape
Faces intense competition from traditional banks and emerging fintech companies that offer faster digital processing and lower interest rates.
Competitive Moat
Moat is built on 20+ years of local market expertise in Rajasthan and a robust in-house collection mechanism that maintains GNPA at 2.77%, which is better than the industry average of ~3.5% for vehicle loans.
Macro Economic Sensitivity
Highly sensitive to rural demand and monsoon patterns, as favorable monsoons boost the repayment capacity of the rural borrower base in Rajasthan and MP.
Consumer Behavior
Increasing shift toward digital loan applications and rising demand for personal mobility in Tier II/III cities driving the vehicle finance portfolio.
Geopolitical Risks
Minimal direct impact, though national regulatory shifts for NBFCs regarding risk weights on consumer credit affect capital adequacy requirements.
Regulatory & Governance
Industry Regulations
Subject to RBI norms for non-deposit taking NBFCs. Recent regulatory pressures include higher risk weights on certain loan categories which could impact liquidity and capital allocation.
Environmental Compliance
Not applicable for financial services; however, the company is expanding 'sustainability financing' as part of its H1FY26 strategy.
Taxation Policy Impact
Effective tax rate is standard for Indian NBFCs; Profit Before Tax (PBT) grew 36.20% YoY to INR 26.15 Cr in H1FY26.
Legal Contingencies
The company handles all recovery activities in-house to mitigate legal risks associated with external collection agencies; no specific high-value pending court cases were disclosed.
Risk Analysis
Key Uncertainties
Asset quality in the vehicle loan segment is a key monitorable, as it accounts for 30% of total GNPA despite being only 22% of the portfolio. Impairment of financial instruments rose 236.78% YoY in H1FY26.
Geographic Concentration Risk
63.88% of AUM is concentrated in Rajasthan, creating a high vulnerability to state-specific economic or regulatory changes.
Third Party Dependencies
High dependency on the promoter, Mr. Nirmal Kumar Jain, for day-to-day operations and strategic direction, though a new professional management team was recently inducted.
Technology Obsolescence Risk
Risk of being disrupted by fintechs; mitigated by the launch of the 'AASAANLOANS' digital platform and adoption of new lending technologies.
Credit & Counterparty Risk
GNPA improved to 2.77% in FY25 from 3.63% in FY24. However, the LAP portfolio remains the primary source of GNPAs, accounting for ~62% of total defaults.
