Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Oct - Submission of Newspaper Advertisement regarding dispatch of Postal Ballot Notice and E-Voting information
Source: Bse
Aavas Financiers Limited (AAVAS)
Large CapFinancial Services stocks · Large cap · NSE
Aavas Financiers Ltd. is a housing finance company focused on the EWS & LIG segments, operating across 15 states/UTs with 440 branches, 80%+ in Tier 3+ towns. It emphasizes an in-house execution model and technology-driven processes for retail loans.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result21 Jul, 11:25 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
28Bearishfull bear SMA stack · SMA20 -4.5% / mo · MACD − · near 52W low
Stock trend: 18
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
AAVASD candles · FIT view-17.3%Latest close ₹1167.00 on 2026-10-19
Bar
-1.7%
RSI
34
MACD hist
-1.13
52W pos
15%
2026-10-19O ₹1187.60H ₹1192.70L ₹1165.00C ₹1167.00Vol 63,168 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
AAVASNifty Financial ServicesNifty 500
- AAVAS
- -22.1%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -16.5 pp
Chart stats
19 Oct 2026- From 52W high
- -34.1%
- 52W range position
- 15%
- ATR (14)
- 3.4%
- Volume vs 20D
- 0.68x
- Avg traded value
- ₹10.8 Cr
- 20D price channel
- ₹1,165 - ₹1,342.6
₹1,771.9
₹1,060.4 - ₹1,771.9
₹39.2
Latest completed session
20-session average
30.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED28
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good55
Revenue +12.9% · PAT +23.0% YoY
Technical
Bearish28
Price trend and sector-relative-strength timing.
Valuation
Legacy model+26.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence54
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 55/100Rev +13% YoY · PAT +23% YoY · operating leverage
Filed 21 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹709 Cr | +12.9% | -0.8% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹171 Cr | +23.0% | -6.0% |
| PAT margin | 24.1% | +199 bps | -133 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 19.60
- P/B
- 2.55
- EV/EBITDA
- 666.61
- Market Cap
- 9600.00Cr
Profitability
- ROE
- 13.90%
- ROCE
- 9.91%
- ROA
- 2.97%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 23.00%
- EPS 5Y
- 23.00%
- Revenue 3Y
- 22.00%
- EPS 3Y
- 19.00%
Balance Sheet
- Debt/Equity
- 3.29
- Interest Coverage
- —
- Altman Z
- 0.85
- Book Value
- 477.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -1987.00 Cr
- EPS TTM
- 62.00
Shareholding
- Promoter Hold
- 48.88%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 23%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 709-0.8% vs prev
Net Profit
₹ CrLatest: 171-6.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 34.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~4.7% over last month) — short-term momentum negative.
- RSI(14) at 34 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 34% off 52W high · 10% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
13
RS percentile
Stage 1 Base / Transition
1M return
-9.2%
3M return
-22.1%
6M return
-16.2%
1Y return
-29.8%
RS 1D
-2
RS 20D
-15
Sector rank
#9
Industry rank
#20
Stage evidence
- Price is 12.7% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +0.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 76.36-1.36%
RS vs Nifty 50076
Valuation & peers
U-Score 28 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 28 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation6/30
Growth15/25
Quality6/20
Balance Sheet0/15
Cash Flow0/10
Piotroski
3/9 (+1)
Penalties
0
Raw sum
28
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
28/100 · legacy band OVERVALUED
Positive drivers
- Fair-value margin of safety is positive at 26.2%.
- Growth contributes 15/25 to the score.
- Quality contributes 6/20 to the score.
Main drags
- Altman Z is 0.8, in distress territory.
- Balance sheet is weaker at 0/15; verify the latest quarterly trend.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
Sector valuation model
NBFC valuation: P/B, ROA, borrowing cost, and asset quality
Lenders can look optically cheap before credit losses emerge, so valuation is tied to book quality.
Primary lens
P/B adjusted for ROA/ROE and leverage quality.
Secondary checks
AUM growth, spreads, credit cost, liquidity and ALM risk.
Main risk check
Fast growth with weak asset quality deserves a discount.
PE
19.6
PB
2.5
EV/EBITDA
666.6
ROE
13.9%
ROCE
9.9%
FCF Yield
—
Debt/Equity
3.3
MoS
+26.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
28
Previous: 28
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
+26.2%
Previous: +26.2%
Score history
12 stored score snapshots. Latest stored move: +2 points.
20 Oct 2026
v4.3-runtime-valuation
35
35
35
35
35
26
26
26
26
26
26
28
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹815.73
-43.1% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹1,581
+26.2% MoS
PEG
0.92
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
CANFINHOME
Large
Can Fin Homes Limited
NBFC
match 166
53
8.5
19.7%
+67%
FAIR VALUE
HOMEFIRST
Large
Home First Finance Company India Limited
NBFC
match 165
35
20.0
15.7%
+26%
WATCHLIST
APTUS
Small
Aptus Value Housing Finance India Limited
NBFC
match 159
50
11.3
20.1%
+57%
FAIR VALUE
INDIASHLTR
Micro
India Shelter Finance Corporation Limited
NBFC
match 157
49
13.6
17.0%
+48%
FAIR VALUE
AADHARHFC
Large
Aadhar Housing Finance Limited
NBFC
match 157
40
16.8
15.9%
+33%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-22T02:10:46.727Z
Management commentary snapshot
AAVAS reports robust Q1FY27 with 41% YoY disbursement growth and 23% YoY PAT growth. AUM expanded 15.4% YoY, while asset quality improved with GNPA at 1.11% and NNPA at 0.71%. NIM improved 22 bps YoY to 7.70%.
The company delivered strong Q1FY27 results, driven by robust disbursement growth and improved operating efficiency. Asset quality remains pristine, and management's focus on productivity and technology is yielding early benefits. Sustained high-teens AUM growth and further operating leverage are key.
Current business mix
AUM by Segment (Jun-26)
Latest issuer-disclosed distribution across 3 reported categories.
HL64.0%
MSME23.0%
LAP13.0%
Growth engines
Home Loan Segment Growth
Healthy 38% YoY growth in the Home Loan segment.
Customer Acquisition & Productivity
Priorities include accelerating customer acquisition, improving productivity, and driving higher revenue per resource.
Operating Leverage
Focus on increasing operating leverage and enhancing branch profitability.
Technology & Data Analytics
Embed technology and data analytics in growth.
Capacity and execution
Branch Network Expansion
Expanded our network to 440 branch locations.
Tailwinds
Volume Pickup
Performance driven by a strong pickup in volumes.
Resource Productivity Improvement
Meaningful improvement in resource productivity.
Execution Strategy Benefits
The quarter reflects the early benefits of our focused execution strategy.
Green Housing Leadership
Cumulatively funded over 700 green homes, establishing leadership in the green housing segment.
Risk radar
Fluctuations in Earnings
Future business prospects are subject to risks and uncertainties regarding fluctuations in earnings.
Ability to Manage Growth
Risks and uncertainties include the company's ability to manage growth.
Competition
Future business prospects are subject to risks and uncertainties regarding competition (both domestic and international).
Government Policies and Regulations
Risks and uncertainties include government policies and actions regulations.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing growth trends and seasonal impacts, while QoQ provides insight into sequential momentum, particularly for disbursements, AUM additions, and efficiency improvements.
Sector KPIs management disclosed
AUM Growth
AUM grew by 15.4% YoY to Rs. 239.3 bn as on Jun-26.
Disbursements Growth
Disbursed loans worth Rs. 16.1 bn, delivering robust growth of 41% YoY.
Net Interest Margin (NIM)
NIM improved by 22-bps YoY to 7.70%.
Cost of Borrowing (CoB)
Cost of Borrowing (CoB) was 7.64% in Q1FY27.
Management forward view
Strategic Priorities
Priorities are accelerating customer acquisition, improving productivity, driving higher revenue per resource, enhancing branch profitability, and increasing operating leverage.
AUM Growth Target
Focus on driving AuM growth to high-teens.
Execution & Governance
Embedding greater execution focus, discipline, and rigor into every layer of the business, underpinned by a firm commitment to strong governance.
Portfolio Quality Commitment
Reinforce commitment to building a portfolio anchored in quality, resilience, and prudent risk-adjusted returns.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| AUM Growth | 15.4% YoY | Sustained high-teens AUM growth. |
| Net Interest Margin (NIM) | 7.70% | Continued improvement or stability in margins. |
| Asset Quality (GNPA/NNPA) | 1.11% / 0.71% | Maintenance of pristine asset quality. |
| Cost-to-Income Ratio | 43.7% | Further improvement in operational efficiency. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
54Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 13th percentile of the scored universe and 21st percentile within Financial Services. Main check: balance sheet trust is weak at 22/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
144 docs text-extracted · 62 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
13th percentile
overall median 67 · Financial Services: 21st pctile, median 62 · Large: 6th pctile, median 73
Evidence depth
Financial-only
144 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
22
weak · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-1987 Cr.
- ▸Debt/equity is 3.29.
- ▸Altman Z is 0.85.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Aavas Financiers Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 25 Sep - CARE revised Aavas ratings: long-term bank facilities and NCDs remain CARE AA(RWD) on watch.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Raising of Funds 2 Sep - AAVAS approved up to Rs 100 crore NCD issue on private placement; 60-month tenor.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Aug - AAVAS Financiers will hold investor meetings on August 17 and 19, 2026 in Pune and Mumbai.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.