Aadhar Housing Finance Limited (AADHARHFC)

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Aadhar Housing Finance Limited (AADHARHFC) · mywealthgrid

About

Housing finance company with ₹21,786 Cr market cap offering home loans. Operates as a non-bank lender in India's housing finance market, competing on net interest margins and cost of deposits.

Face value: ₹10

Market cap

₹19,609 Cr

P/E

17.2×

P/B

2.6×

Dividend yield

ROE

15.8%

ROCE

—

Debt / equity

2.49

OPM

76.4%

EPS (TTM)

₹26.2

Book value

₹173.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

High leverage (D/E 2.49) exposes the company to refinancing risk and interest-rate compression on spreads
Margin compression evident: OPM fell from 77.35% (Dec 2025) to 75.02% (Jun 2026); verify causes and whether temporary or structural
Profit decline despite revenue growth: Net profit fell from ₹310 Cr (Mar 2026) to ₹282 Cr (Jun 2026); verify asset quality and provisioning practices
Credit cycle vulnerability: Housing finance borrowers are sensitive to economic slowdown and interest rates; verify GNPA/NNPA levels

Generated analysis · source review pending

Growth drivers

Loan portfolio expansion: Revenue grew 10.6% from ₹897 Cr (Sep 2025) to ₹992 Cr (Jun 2026), evidencing active loan disbursements
Capital efficiency: ROE of 15.75% shows deployed capital is profitable; growth depends on maintaining returns while utilizing D/E capacity of 2.49
Housing market opportunity: India's housing credit market continues expanding; verify company's market share trajectory and competitive positioning

Generated analysis · source review pending

587 historical price candles were omitted because the exchange source has not been verified.

₹448.4+3.7%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 76.4%
+Profit CAGR of 26.2% over the last 3 years
+Revenue CAGR of 21.6% over the last 3 years
+High promoter holding of 64.7% with no pledge

Cons

−Heavily leveraged (debt/equity 2.5)
−Promoter holding fell 10.8 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

63/100

Business quality: 38
Growth: 79
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,043	2,587	3,108	3,673
Interest	799	987	1,174	1,364
Expenses	507	620	737	869
Financing profit	737	980	1,197	1,440
Financing margin %	36.1%	37.9%	38.5%	39.2%
Other income	0	0	1	14
Depreciation	16	21	25	32
Exceptional items	25	0	0	-16
Profit before tax	696	960	1,173	1,406
Tax	151	210	261	310
Tax %	21.7%	21.9%	22.3%	22.1%
PAT	545	750	912	1,096
EPS (₹)	13.8	19	21.4	25.3
EPS adjusted (₹)	13.8	19	21.1	25.2
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	395	395	431	436
Reserves	3,303	4,055	5,941	7,105
	12,153	13,960	16,322	18,744
	767	684	529	1,114
Total equity & liabilities	16,618	19,093	23,224	27,399
	25	80	92	138
CWIP	—	—	0	0
Investments	459	462	513	637
	16,133	18,551	22,619	26,624
Total assets	16,618	19,093	23,224	27,399

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1,156	-2,429	-3,027	-2,808
	-477	602	160	309
	1,463	1,778	3,389	2,336
Net cash flow	-169	-49	522	-164
Free cash flow	-1,166	-2,444	-3,041	-2,827
CFO / Operating profit %	-75.2%	-123.5%	-127.7%	-100.1%

Compounded sales growth

7 years: —
5 years: —
3 years: 22%
1 year: 18%

Compounded profit growth

7 years: —
5 years: —
3 years: 26%
1 year: 20%

Return on equity

7 years: —
5 years: —
3 years: 15%
Last year: 15%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	75.2%	76%	76.3%	76.4%
EBIT margin %	74.4%	75.2%	75.5%	75.5%
PAT margin %	26.7%	29%	29.3%	29.8%
Working capital
Receivable days	—	—	—	—
Inventory days	—	0	0	0
Payable days	—	—	—	—
NWC days	—	—	—	—
Leverage
Current ratio	—	—	—	—
Debt to EBITDA	7.91	7.1	6.88	6.68
Debt to equity	3.29	3.14	2.56	2.49
Interest coverage	1.9	2	2	2
Asset turnover	0.12	0.14	0.13	0.13
Return ratios
Return on assets %	3.3%	3.9%	3.9%	4%
Return on capital employed %	—	—	—	—
Return on equity %	14.7%	16.8%	14.3%	14.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	76.48%	76.48%	75.89%	75.74%	75.61%	75.5%	75.32%	75.19%	64.9%	64.66%
	4.47%	4.17%	4.33%	4.3%	5.32%	5.58%	6.1%	6.18%	6.13%	5.79%
	7.18%	8.59%	9.46%	9.27%	8.57%	8.44%	8.25%	8.45%	9.15%	9.93%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.87%	10.76%	10.32%	10.69%	10.5%	10.48%	10.33%	10.18%	19.82%	19.62%
No. of shareholders	—	—	—	—	—	—	1,97,894	1,94,143	1,84,772	1,62,826

Promoter holding down 11.82 percentage points since Mar 2024.

2 deals · 15 May 2024 – 15 May 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 May 2024	BLUE DAIMOND PROPERTIES PRIVATE LIMITED	Bulk	NSE	Buy	23,00,000	₹315.04	₹72.46 Cr
15 May 2024	AKASH BHANSHALI	Bulk	NSE	Buy	22,00,000	₹319.06	₹70.19 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Raj Vikash VermaChairperson
Mr. Raj Vikash VermaNon-Executive - Independent Director-Chairperson
Mrs. Sharmila Abhay KarveNon-Executive - Independent Director
Mrs. Punita Kumar SinhaNon-Executive - Independent Director
Mr. Amit DixitNon-Executive - Nominee Director
Mr. Mukesh Gulraj MehtaNon-Executive - Nominee Director
Mr. Prateek RoongtaNon-Executive - Nominee Director
Mr. Deo Shankar TripathiExecutive Director
Mr. Rishi AnandExecutive Director-CEO-MD
Harshada PathakCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

2.79%

of the company's equity

All mutual funds

6.7%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

39 schemes · 12 fund houses

		Shares
Small Cap Fund	DSP Mutual Fund	27.25 L	127.55	0.59%	0.623%	+6.94 L
Small Cap Fund	Axis Mutual Fund	19.51 L	91.32	0.29%	0.446%	+1.05 L
Banking & Financial Services Fund	ICICI Prudential Mutual Fund	17.77 L	83.19	0.73%	0.406%	+37,963
Banking & Financial Services Fund	DSP Mutual Fund	15.57 L	72.87	3.34%	0.356%	+4.08 L
Franklin India Large & Mid Cap Fund (Formerly known as Franklin India Equity Advantage Fund)^	Franklin Templeton Mutual Fund	9.76 L	45.7	1.26%	0.223%	-0
BANKING & FINANCIAL SERVICES FUND	Tata Mutual Fund	6 L	28.09	0.85%	0.137%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	4.3 L	20.13	2.54%	0.098%	+1.56 L
MULTICAP FUND	Tata Mutual Fund	3.47 L	16.23	0.45%	0.079%	-0

1–8 of 39

1 / 5

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jul 2026TranscriptAI SummaryPPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results31 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

44 announcementsExport CSV

1 Oct 2026, 3:02 pmOthers

Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD

Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD PDF

29 Sept 2026, 5:15 pmOthers

Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD

Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD PDF

28 Sept 2026, 4:18 pmOthers

Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD

Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD PDF

22 Sept 2026, 3:18 pmCompany Update

Announcement under Regulation 30 (LODR)-Credit Rating

Credit Rating PDF

21 Sept 2026, 7:18 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

21 Sept 2026, 7:01 pmAGM/EGM

Postal Ballot Outcome With Scrutinizer''s Report

Postal Ballot PDF

19 Sept 2026, 3:13 pmOthers

Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD

Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD PDF

18 Sept 2026, 12:54 pmCompany Update

Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - ESG Rating.

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 3:02 pm	Others Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	PDF
29 Sept 2026, 5:15 pm	Others Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	75.2%	76%	76.3%	76.4%
EBIT margin %	74.4%	75.2%	75.5%	75.5%
PAT margin %	26.7%	29%	29.3%	29.8%
Working capital
Receivable days	—	—	—	—
Inventory days	—	0	0	0
Payable days	—	—	—	—
NWC days	—	—	—	—
Leverage
Current ratio	—	—	—	—
Debt to EBITDA	7.91	7.1	6.88	6.68
Debt to equity	3.29	3.14	2.56	2.49
Interest coverage	1.9	2	2	2
Asset turnover	0.12	0.14	0.13	0.13
Return ratios
Return on assets %	3.3%	3.9%	3.9%	4%
Return on capital employed %	—	—	—	—
Return on equity %	14.7%	16.8%	14.3%	14.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bajaj Housing Finance LimitedBAJAJHFLBAJAJHFL	₹69,083 Cr	₹1,72,787 Cr	₹11,606 Cr	₹10,596 Cr	90.9%	₹2,692 Cr	23%	—	12.1%	—
Pnb Housing Finance LimitedPNBHOUSINGPNBHOUSING	₹28,458 Cr	₹99,656 Cr	₹8,692 Cr	₹8,177 Cr	94.5%	₹2,315 Cr	26.9%	—	12.7%	—
Lic Housing Finance LimitedLICHSGFINLICHSGFIN	₹28,000 Cr	₹3,05,356 Cr	₹28,683 Cr	₹27,081 Cr	93.6%	₹5,739 Cr	19.4%	—	14.4%	—
Aadhar Housing Finance LimitedAADHARHFCAADHARHFC	₹19,609 Cr	₹38,352 Cr	₹3,817 Cr	₹2,908 Cr	76.4%	₹1,141 Cr	29.8%	—	15.8%	—
Sammaan Capital LimitedSAMMAANCAPSAMMAANCAP	₹15,388 Cr	₹66,991 Cr	₹7,418 Cr	₹3,373 Cr	41.6%	₹-7,236 Cr	-87.5%	—	-35%	—
Home First Finance Company India LimitedHOMEFIRSTHOMEFIRST	₹11,764 Cr	₹22,354 Cr	₹1,999 Cr	₹1,571 Cr	78.9%	₹581 Cr	28.2%	—	15.7%	—
Aptus Value Housing Finance India LimitedAPTUSAPTUS	₹11,338 Cr	₹19,212 Cr	₹2,306 Cr	₹1,906 Cr	83.4%	₹985 Cr	42%	—	20.1%	—
Can Fin Homes LimitedCANFINHOMECANFINHOME	₹9,471 Cr	₹47,728 Cr	₹4,292 Cr	₹3,953 Cr	92.1%	₹1,130 Cr	25.8%	—	19.7%	—
Aavas Financiers LimitedAAVASAAVAS	₹9,444 Cr	₹21,780 Cr	₹2,018 Cr	₹1,484 Cr	73.5%	₹491 Cr	24.3%	—	13.9%	—
India Shelter Finance Corporation LimitedINDIASHLTRINDIASHLTR	₹7,031 Cr	₹13,277 Cr	₹1,528 Cr	₹1,110 Cr	72.6%	₹503 Cr	32.9%	—	17%	—
Repco Home Finance LimitedREPCOHOMEREPCOHOME	₹2,114 Cr	₹14,320 Cr	₹1,819 Cr	₹1,612 Cr	89.3%	₹482 Cr	26.5%	—	12.7%	—
Gic Housing Finance LimitedGICHSGFINGICHSGFIN	₹716 Cr	₹9,767 Cr	₹1,084 Cr	₹895 Cr	79.1%	₹157 Cr	14.3%	—	7.6%	—

Aadhar Housing Finance Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Board meetings1

Announcements

Not in the F&O segment

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

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