Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 23 Sep
Source: Bse
India Shelter Finance Corporation Limited (INDIASHLTR)
Micro CapFinancial Services stocks · Micro cap · NSE
India Shelter Finance Corporation Limited is an affordable housing finance company focused on self-employed individuals in tier 3 and tier 4 cities across 15 states. It provides home loans and loans against property (LAP), emphasizing prudent underwriting, strong collections, and granular market expansion.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals14 Oct 2026 · screener
Latest result06 Aug, 08:35 pm IST
Score21 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 -3.1% / 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
INDIASHLTRD candles · FIT view-24.6%Latest close ₹610.70 on 2026-10-19
Bar
-1.5%
RSI
31
MACD hist
-1.79
52W pos
1%
2026-10-19O ₹620.10H ₹620.55L ₹606.00C ₹610.70Vol 52,321 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
INDIASHLTRNifty Financial ServicesNifty 500
- INDIASHLTR
- -25.1%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -19.5 pp
Chart stats
19 Oct 2026- From 52W high
- -33.9%
- 52W range position
- 1%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.62x
- Avg traded value
- ₹5.4 Cr
- 20D price channel
- ₹606 - ₹688
₹924
₹606 - ₹924
₹18.1
Latest completed session
20-session average
16.6% annualized volatility
Research snapshot
What the evidence says now
Mixed 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 · FAIR VALUE49
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +19.7% · PAT +20.2% YoY
Technical
Bearish28
Price trend and sector-relative-strength timing.
Valuation
Legacy model+48.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence55
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 · 70/100Rev +20% YoY · PAT +20% YoY · +5% QoQ
Filed 06 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹432 Cr | +19.7% | +5.1% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹143 Cr | +20.2% | +2.1% |
| PAT margin | 33.1% | +14 bps | -96 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 13.60
- P/B
- 2.14
- EV/EBITDA
- 1091.92
- Market Cap
- 6857.00Cr
Profitability
- ROE
- 17.00%
- ROCE
- 12.80%
- ROA
- 5.23%
- Dividend Y
- 1.59%
Growth (CAGR)
- Revenue 5Y
- 37.00%
- EPS 5Y
- 42.00%
- Revenue 3Y
- 38.00%
- EPS 3Y
- 48.00%
Balance Sheet
- Debt/Equity
- 1.95
- Interest Coverage
- —
- Altman Z
- 1.22
- Book Value
- 294.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -1185.00 Cr
- EPS TTM
- 46.26
Shareholding
- Promoter Hold
- 46.05%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 3%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 31.0-18.4% vs prev
Net Profit
₹ CrLatest: 503+33.1% vs prev
Return on Equity
%Latest: 15.7+12.8% vs prev
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 31.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~3.2% over last month) — short-term momentum negative.
- RSI(14) at 31 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
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
18
RS percentile
Stage 4 Downtrend
1M return
-10.4%
3M return
-25.1%
6M return
-24.7%
1Y return
-30.0%
RS 1D
0
RS 20D
-8
Sector rank
#10
Industry rank
#67
Stage evidence
- Price is 17.1% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 72.79-0.57%
RS vs Nifty 50073
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 49 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation16/30
Growth22/25
Quality9/20
Balance Sheet0/15
Cash Flow0/10
Piotroski
3/9 (+1)
Penalties
1
Raw sum
49
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
49/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 48.2%.
- Growth contributes 22/25 to the score.
- Valuation contributes 16/30 to the score.
Main drags
- Altman Z is 1.2, 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
13.6
PB
2.1
EV/EBITDA
1091.9
ROE
17.0%
ROCE
12.8%
FCF Yield
—
Debt/Equity
1.9
MoS
+48.2%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
49
Previous: 49
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+48.2%
Previous: +48.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
50
50
50
50
46
46
46
49
49
49
49
49
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
₹553.18
-10.4% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹1,179.63
+48.2% MoS
PEG
0.31
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
APTUS
Small
Aptus Value Housing Finance India Limited
NBFC
match 164
50
11.3
20.1%
+57%
FAIR VALUE
HOMEFIRST
Large
Home First Finance Company India Limited
NBFC
match 162
35
20.0
15.7%
+26%
WATCHLIST
GICHSGFIN
Small
GIC Housing Finance Limited
NBFC
match 159
30
4.5
7.6%
+24%
OVERVALUED
CANFINHOME
Large
Can Fin Homes Limited
NBFC
match 157
53
8.5
19.7%
+67%
FAIR VALUE
AAVAS
Large
Aavas Financiers Limited
NBFC
match 156
28
19.6
13.9%
+26%
OVERVALUED
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 2026-06-09T17:37:45.496Z
Management commentary snapshot
India Shelter reported strong Q4FY26 and FY26 results, with AUM crossing Rs. 11,000 crores (up 29% YoY) and annual PAT exceeding Rs. 500 crores. Q4 disbursements surpassed Rs. 1,000 crores for the first time. Asset quality improved QoQ, with Net Stage-3 at 0.9%.
The company delivered on its AUM growth and profitability guidance, with improving asset quality metrics. Management's cautious stance on disbursement growth for FY27, while maintaining long-term AUM targets, suggests a prudent approach in a volatile macro environment. Focus on digital and productivity should support future growth.
Current business mix
Disbursement by Product
Latest issuer-disclosed distribution across 2 reported categories.
Home Loan (HL)56.5%
Loan Against Property (LAP)43.5%
Growth engines
Branch Expansion
Branch expansion strategy of adding 40 to 45 branches each year continues.
Productivity Drive
Focus on improving productivity per case, per employee.
Digital Journey
Digital journey, started a year back, is showing positive returns, disbursing Rs. 20-30 crores digitally in Q4.
Geographic Distribution
Distribution spread across 15 states provides support and diversification, with maturity coming in underwriting in new states.
Capacity and execution
Branch Additions
Added 6 new branches in Q4 and 41 branches for the year, in line with strategy.
Tailwinds
Robust GST Collections
GST collections remained robust, consistently averaging around Rs. 1.7 lakh crores to Rs. 1.8 lakh crores per month.
Digital Payments Scale
UPI transactions now exceed Rs. 18-20 lakh crore monthly, reflecting deepening financial inclusion.
Healthy System Credit Growth
System credit growth remains healthy, supported by demand across retail segments, including housing finance.
Long-term Housing Demand
India remains one of the fastest-growing major economies, supported by long-term structural demand for housing.
Headwinds
Geopolitical Tensions
Global markets impacted by geopolitical tensions due to ongoing wars and supply chain disruptions.
Household Spending Pressure
Volatility in commodity markets and global uncertainty created pressure on household spending patterns and consumer sentiments.
Rural/Semi-urban Stress
Uneven and abnormal monsoon patterns across certain regions impacted agricultural cash flows and informal income segments.
LPG Supply Disruptions
Recent LPG supply disruptions and related availability issues in some markets created short-term operating challenges for households and small businesses.
Risk radar
Macroeconomic Caution
Management views the environment as 'little cautionary' and 'watchful situation' due to global and domestic uncertainties.
Credit Behavior Impact
Monitoring potential impact of LPG shortages and global news on customer credit behavior, though no immediate impact seen till March.
Competition
Every market is 'plundered by all kinds of competition', but management believes serious players know how to operate.
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 highlights strong annual growth in AUM and PAT, while QoQ comparison is crucial for assessing sequential momentum in disbursements, asset quality improvements, and profitability metrics like ROE.
Sector KPIs management disclosed
AUM Growth
AUM grew 29% year-on-year to Rs. 11,044 crores. Quarter-on-quarter growth was 7%.
Disbursements
In Q4FY26, disbursements crossed Rs. 1,000 crores for the first time.
Portfolio Yield
Portfolio yield is 14.8%, down by 10 basis points year-on-year. Disbursement yield in Q4 was 14.6%.
Cost of Funds
Bucket cost of fund is 8.2%, while marginal cost of fund in Q4 was 7.9%.
Management forward view
AUM Target
Clear goal of reaching Rs. 30,000 crores AUM by 2030.
Loan Growth Guidance
Loan growth of 25% to 30% for the next 3 years.
Spreads Guidance
Maintaining the spreads of more than 6% in the medium term.
Credit Cost Guidance
Credit cost to remain between 40 to 50 bps.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| AUM Growth | 29% YoY | Consistency within 25%-30% guidance. |
| Disbursement Growth | Q4 >Rs. 1,000 crores | Disbursement growth to cross 20% for FY27 and pick up further as environment improves. |
| Net Stage-3 | 0.9% | Stability or further improvement in asset quality metrics. |
| OPEX to AUM | 3.94% | Annual reduction of 15-20 bps. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
55Limited 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 16th percentile of the scored universe and 28th percentile within Financial Services. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
48 docs text-extracted · 21 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
16th percentile
overall median 67 · Financial Services: 28th pctile, median 62 · Micro: 10th pctile, median 73
Evidence depth
Financial-only
48 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
70
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
35
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 ₹-1185 Cr.
- ▸Altman Z is 1.27.
- ▸Promoter holding fell 1.7%.
- ▸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 India Shelter Finance Corporation Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 8 Sep
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Aug - Intimation of newspaper publication - August 07, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 12 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Issue of Securities 20 Jul - India Shelter Finance approved Rs100 crore NCD issue at 8.10% for 60 months.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 9 Jul - CARE reaffirmed India Shelter Finance's long-term bank facilities rating at AA- Stable for ₹2,500 crore, enhanced from ₹2,000 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 24 Jun
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 May
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.