Financial Services stocks · Small cap · NSE
Aye Finance Limited is an RBI-registered NBFC-ML focused on enabling credit access for underserved MSMEs across India. It offers secured and unsecured loans for working capital, expansion, and asset purchases, serving ~6.7 lakh active customers through 571 branches and tech-driven credit assessment.
SMA20 -9.7% / mo · RSI oversold · MACD −
Latest mapped FPI equity flow was not positive. View sector evidence
Daily history is available from 2026-02-16; the requested 1Y window is partially covered.
Adjusted completed-session prices, rebased to 100
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Revenue +17.8% · PAT +138.7% YoY
Price trend and sector-relative-strength timing.
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Financial-only signal; management claim evidence is not sufficient yet.
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Rev +18% YoY · PAT +139% YoY · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹477 Cr | +17.8% | -7.4% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹74 Cr | +138.7% | -13.9% |
| PAT margin | 15.5% | +786 bps | -119 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Updated 21/10/2026
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Signals are conflicting — long-term trend unclear. RSI 27. Wait for confirmation.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
U-Score 42 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Top U-Score contributors and drags from the latest stored fundamentals.
Lenders can look optically cheap before credit losses emerge, so valuation is tied to book quality.
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.
12 stored score snapshots. Latest stored move: +0 points.
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.
Growth engines, risks, management commitments and evidence-backed delivery
Q1FY27 sees strong YoY growth: AUM up 28% to Rs 7,324 Cr, Disbursements up 22% to Rs 1,219 Cr, and PAT surges 144% to Rs 75 Cr. Asset quality improves for 6th consecutive quarter with GNPA at 4.49% and credit cost moderating to 4.01%.
Aye Finance delivered robust Q1FY27 results, with significant YoY growth in AUM, disbursements, and PAT, despite Q1 being a seasonally weaker quarter. Asset quality continued its improving trajectory, and credit costs moderated. The recent credit rating upgrade is a positive for funding. Management is optimistic for Q2 FY27.
Latest issuer-disclosed distribution across 3 reported categories.
Government-led financial inclusion initiatives and rapid digital adoption are expanding access to formal credit.
Calibrated expansion of ML business with 180 branches in Primary ML Channel and 1,020 dedicated staff.
Repeat program ensures retention of good customers with low origination cost and enhances lifetime customer value.
AUM growth is driven by deepening branch portfolios, with limited dependency on new branch expansion.
Company has deployed 1,020 dedicated staff in 'Primary ML Channel' in 180 branches.
126 staff deployed in 100 branches to upsell ML loans to eligible repeat customers from HL portfolio.
India's micro-enterprises continue to demonstrate strong credit resilience.
Government-led financial inclusion initiatives are meaningfully expanding access to formal credit.
Rapid digital adoption is reinforcing the long-term structural opportunity in the micro-enterprise segment.
India Ratings & Research upgraded long-term rating to IND A+ with Stable Outlook, improving funding access and cost.
Q1 is seasonally a weaker quarter, characterized by lower business activity and softer credit demand.
Reduction in average yield due to change in portfolio mix.
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Q1 is seasonally weaker, making YoY comparisons crucial for underlying business growth. QoQ comparisons are also important to track sequential momentum in asset quality and efficiency metrics, especially given management commentary on sequential improvements.
AUM improved by 28% YoY and 4% QoQ to Rs 7,324 Crore.
Disbursements for the quarter stood at Rs 1,219 Crore, with a growth of 22% YoY.
NIM improved by 20 bps QoQ to 15.94%.
Average Cost of Borrowing (CoB) for Q1FY27 was 10.78%, down from 10.87% in Q4FY26.
We expect business momentum to further improve, supported by improving customer demand, stable collections, and a more favourable operating environment.
Targeting 28% - 33% AUM CAGR over the next three years.
Delivering strong financial performance with RoA of 4.0% - 4.5% and RoE of 17.0% - 20%.
Increasing mortgage loan shares and deepening AI/ML integration in underwriting cycles.
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| AUM Growth | 28% YoY (Q1FY27) | Sustained growth towards FY27 guidance of 25-30% and 3-year CAGR of 28-33%. |
| GNPA | 4.49% (Q1FY27) | Continued sequential improvement and stability in asset quality metrics. |
| Credit Cost | 4.01% (Q1FY27) | Moderation towards FY27 guidance of 3.5-4.0% and 3-year normalized 3.25-3.75%. |
| NIM | 15.94% (Q1FY27) | Stability or improvement, offsetting any yield reduction from portfolio mix. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
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 7th percentile of the scored universe and 11th 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.
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
overall median 67 · Financial Services: 11th pctile, median 62 · Small: 9th pctile, median 66
23 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
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.
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Latest exchange and company disclosures found within the past two years.
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