Aryaman Financial Services Limited profit rises to Rs 38.97 crore

Aryaman Financial Services reported consolidated profit of Rs 38.97 crore for the half year ended September 30, 2026, up from Rs 23.51 crore a year earlier, as revenue from operations reached Rs 55.03 crore. The unaudited results were approved by its board on November 14, 2026.

How did Aryaman Financial Services perform in the first half?

Aryaman Financial Services increased total income to Rs 57.09 crore in the half year ended September 30, 2026, from Rs 50.76 crore in the corresponding 2025 period. Revenue from operations was Rs 55.03 crore and other income was Rs 2.06 crore, compared with Rs 47.77 crore and Rs 3.00 crore, respectively, a year earlier.

Profit before tax rose to Rs 47.00 crore from Rs 28.82 crore as total expenses declined to Rs 10.09 crore from Rs 21.94 crore. Tax expense increased to Rs 6.00 crore from Rs 5.33 crore, resulting in profit for the period of Rs 38.97 crore, an increase of Rs 15.45 crore year on year.

What changed in Aryaman Financial Services’ cost base?

Aryaman Financial Services reported fees and commission expenses of Rs 6.49 crore for the September 2026 half year, up from Rs 4.07 crore in the prior-year period. Employee benefit expenses rose to Rs 2.08 crore from Rs 1.87 crore, while depreciation and amortisation expense increased to Rs 12.44 lakh from Rs 11.43 lakh.

The lower total expense figure reflects the presentation of no amounts for purchases of stock-in-trade, changes in inventories and finance costs in the September 2026 half-year expense lines. In the September 2025 half year, purchases of stock-in-trade were Rs 7.10 crore and changes in inventories were Rs 5.76 crore; other expenses also declined to Rs 1.40 crore from Rs 2.13 crore.

How did Aryaman Financial Services’ quarterly results compare?

Aryaman Financial Services earned consolidated profit of Rs 24.87 crore in the quarter ended September 30, 2026, compared with Rs 14.09 crore in the June 2026 quarter and Rs 10.29 crore in the September 2025 quarter. Revenue from operations in the September 2026 quarter was Rs 35.10 crore, versus Rs 19.93 crore in the immediately preceding quarter.

Total comprehensive income was Rs 11.50 crore in the September 2026 quarter, below profit because the group recorded other comprehensive loss of Rs 13.37 crore. This compared with total comprehensive income of Rs 21.83 crore in the June 2026 quarter, when other comprehensive income was Rs 7.73 crore.

Profit attributable to owners was Rs 29.88 crore for the half year, compared with Rs 18.10 crore a year earlier, while profit attributable to non-controlling interests was Rs 9.09 crore against Rs 5.42 crore. Basic and diluted earnings per share were Rs 31.82 for the six-month period, up from Rs 19.20, with paid-up equity share capital of Rs 12.25 crore and a face value of Rs 10 per share.

What happened to Aryaman Financial Services’ operating cash flow?

Aryaman Financial Services generated net operating cash flow of Rs 19.18 crore in the half year ended September 30, 2026, down from Rs 30.97 crore in the year-earlier period. Cash generated from operations declined to Rs 22.98 crore from Rs 35.96 crore, while taxes paid fell to Rs 3.79 crore from Rs 4.99 crore.

Working-capital and asset movements affected the comparison. Trade receivables increased by Rs 86.03 lakh, other assets increased by Rs 5.14 crore and loans increased by Rs 2.73 crore in the latest half year; in the prior-year period, other assets had decreased by Rs 8.82 crore.

The cash-flow statement included a Rs 14.38 crore net gain on fair-value changes in arriving at operating profit before working-capital changes. Investing activities used Rs 18.97 crore, compared with an investing cash inflow of Rs 32.02 lakh a year earlier, as purchase or sale of investments accounted for an outflow of Rs 20.95 crore partly offset by Rs 2.06 crore of interest income.

How did Aryaman Financial Services’ balance sheet change?

Aryaman Financial Services’ total assets were Rs 274.79 crore at September 30, 2026, compared with Rs 237.13 crore at March 31, 2026. Financial assets increased to Rs 271.52 crore from Rs 234.00 crore, led by investments of Rs 162.63 crore compared with Rs 133.89 crore at the March year end.

Loans rose to Rs 16.18 crore from Rs 13.45 crore, while other financial assets increased to Rs 10.51 crore from Rs 5.54 crore. Cash and cash equivalents were Rs 80.92 crore at September 30, marginally above Rs 80.70 crore at March 31, but below the Rs 101.92 crore closing balance reported for September 30, 2025 in the cash-flow statement.

Total equity increased to Rs 254.94 crore at September 30 from Rs 221.61 crore at March 31. Equity attributable to owners rose to Rs 184.16 crore from Rs 160.43 crore, non-controlling interest increased to Rs 70.78 crore from Rs 61.18 crore, and total liabilities stood at Rs 19.85 crore, including deferred tax liability of Rs 10.94 crore.

What do the reported figures show about Aryaman Financial Services’ business?

Aryaman Financial Services reported one business segment, finance, in its half-year results. The group’s Rs 37.66 crore asset increase from March was concentrated in financial assets, which grew by Rs 37.52 crore, including a Rs 28.74 crore rise in investments and a Rs 4.97 crore increase in other financial assets.

The profit increase occurred alongside a smaller cash contribution from operations and net investing outflows. Net cash flow during the period was Rs 21.91 lakh, compared with Rs 2.37 crore in the prior-year half, leaving closing cash and cash equivalents at Rs 80.92 crore against an opening balance of Rs 80.70 crore.

Conclusion

Aryaman Financial Services reported higher half-year revenue and a Rs 15.45 crore year-on-year increase in consolidated profit, while total expenses were Rs 11.85 crore lower than in the prior-year period. Its balance sheet expanded by Rs 37.66 crore from March, led by investments, loans and other financial assets, while operating cash flow declined by Rs 11.78 crore.

The filing discloses no financial target, investment plan or timetable for the next results announcement. It states that the September 2026 financial results were reviewed by the audit committee and approved by the board on November 14, 2026, and were also disseminated through Aryaman Financial Services’ investor-relations website.