Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Spandana Sphoorty Financial Limited (SPANDANA)
Small CapFinancial Services stocks · Small cap · NSE
Spandana Sphoorty Financial Limited operates in Microfinance, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹196.06
-7.37 · -3.62%
Market cap ₹1,891 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result23 Jul, 11:19 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 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
31Bearishfull bear SMA stack · SMA20 -8.3% / mo · RSI oversold · MACD − · near 52W low
Stock trend: 22
Sector RS: 45
Sector 3M: -5.7% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SPANDANAD candles · FIT view-12.8%Latest close ₹196.06 on 2026-10-21
Bar
-4.3%
RSI
24
MACD hist
-0.79
52W pos
11%
2026-10-21O ₹204.90H ₹204.90L ₹195.00C ₹196.06Vol 1.5L 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
SPANDANANifty Financial ServicesNifty 500
- SPANDANA
- -35.3%
- Nifty 500
- -6.5%
- Nifty Financial Services
- -6.9%
- Vs Nifty 500
- -28.8 pp
Chart stats
21 Oct 2026- From 52W high
- -38.6%
- 52W range position
- 11%
- ATR (14)
- 3.6%
- Volume vs 20D
- 1.34x
- Avg traded value
- ₹2.5 Cr
- 20D price channel
- ₹195 - ₹233.3
₹319.4
₹181.1 - ₹319.4
₹7.1
Latest completed session
20-session average
30.7% 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 weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED13
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -5.3% · PAT NDF YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence52
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
Bad · 0/100Rev -5% YoY · +9% QoQ
Filed 23 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹284 Cr | -5.3% | +9.2% |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹12 Cr | NDF | +140.0% |
| PAT margin | 4.2% | +12423 bps | +231 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 0.89
- EV/EBITDA
- 388.93
- Market Cap
- 1891.00Cr
Profitability
- ROE
- -29.40%
- ROCE
- -5.78%
- ROA
- -5.24%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -7.00%
- EPS 5Y
- -16.00%
- Revenue 3Y
- -10.00%
- EPS 3Y
- -35.00%
Balance Sheet
- Debt/Equity
- 1.49
- Interest Coverage
- —
- Altman Z
- 1.04
- Book Value
- 240.00
Cash Flow
- FCF Yield
- 55.37%
- FCF Positive Y
- 3/5
- OCF
- 882.00 Cr
- EPS TTM
- -36.89
Shareholding
- Promoter Hold
- 48.16%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 24%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 284+9.2% vs prev
Net Profit
₹ CrLatest: 12.0+140.0% 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 24.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~9.1% over last month) — short-term momentum negative.
- RSI(14) at 24 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 39% off 52W high · 8% 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
31
RS percentile
Stage 4 Downtrend
1M return
-14.2%
3M return
-35.3%
6M return
-12.4%
1Y return
-21.8%
RS 1D
-3
RS 20D
-16
Sector rank
#10
Industry rank
#42
Stage evidence
- Price is 19.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 82.41-2.73%
RS vs Nifty 50082
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 13 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation4/30
Growth0/25
Quality0/20
Balance Sheet2/15
Cash Flow7/10
Piotroski
1/9 (+0)
Penalties
0
Raw sum
13
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
13/100 · legacy band OVERVALUED
Positive drivers
- FCF yield is supportive at 55.4%.
- Cash flow contributes 7/10 to the score.
- Valuation contributes 4/30 to the score.
Main drags
- Altman Z is 1.0, in distress territory.
- Growth is weaker at 0/25; verify the latest quarterly trend.
- Quality is weaker at 0/20; 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
—
PB
0.9
EV/EBITDA
388.9
ROE
-29.4%
ROCE
-5.8%
FCF Yield
55.4%
Debt/Equity
1.5
MoS
—
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
13
Previous: 13
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
13
13
13
13
13
13
13
13
13
13
13
13
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
—
Growth-justified P/E
2.9
Growth-justified Value
—
— MoS
PEG
—
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
SATIN
Small
Satin Creditcare Network Limited
NBFC / Capital Markets / Insurance
match 154
55
5.8
12.3%
+76%
FAIR VALUE
MUTHOOTMF
Small
Muthoot Microfin Limited
NBFC / Capital Markets / Insurance
match 152
43
12.2
6.2%
+54%
WATCHLIST
MUFIN
Small
Mufin Green Finance Limited
NBFC / Capital Markets / Insurance
match 128
15
69.2
6.7%
-178%
OVERVALUED
REPCOHOME
Small
Repco Home Finance Limited
NBFC / Capital Markets / Insurance
match 128
51
4.3
12.4%
+86%
FAIR VALUE
PFS
Small
PTC India Financial Services Limited
NBFC / Capital Markets / Insurance
match 128
58
8.1
11.0%
+70%
FAIR VALUE
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
Issuer presentation review pending
Spandana Sphoorty Financial Limited operates in Microfinance, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
52Limited 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 10th percentile of the scored universe and 15th percentile within Financial Services. Main check: results consistency is weak at 15/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
115 docs text-extracted · 36 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
10th percentile
overall median 67 · Financial Services: 15th pctile, median 62 · Small: 12th pctile, median 66
Evidence depth
Financial-only
115 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
77
strong · profit to cash conversion
Balance sheet
35
weak · leverage and solvency
Discipline
40
weak · capital discipline
Results
15
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 61.2%.
Trust risks
- ▸Altman Z is 1.01.
- ▸4 latest quarters had PAT decline worse than 25% YoY.
- ▸Debt/equity is 1.49.
- ▸ROCE is low at -5.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Spandana Sphoorty Financial Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Sep - Newspaper advertisement in respect to First and Final Call.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - Newspaper advertisement for dispatch of First and Final Call Notice to the shareholders of Spandana Sphoorty Financial Limited (the "company").
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Resignation of Director 14 Aug - Board approved CFL amalgamation with SSFL; Neeraj Swaroop appointed Independent Director for three years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug - Newspaper Advertisement regarding the Record Date for First and Final call on Partly Paid-up Rights Issue Equity Shares of the Company.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 3 Jul - CARE BBB+ stable reaffirmed for ₹1,780 crore debt; commercial paper CARE A2 reaffirmed.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 16 Jun - Crisil reaffirmed BBB+/Stable rating and reduced bank loan facilities to Rs.1,000 crore from Rs.1,700 crore.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 11 Jun - ICRA reaffirmed BBB+ ratings on ₹1,523 crore debt, revising outlook to Stable from Negative.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Jun
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 May
Source: Bse
Annual report
Annual Report 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.