Avonmore Capital & Management Services Ltd (AVONMORE)

Financial Services · Finance · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹13.3 ↓ 30.18% (1Y)

🎯 Key Takeaways

Avonmore Capital & Management Services Ltd is transitioning from a loss-making entity to a profitable, diversified financial services firm, with its core Financial Services and Green Fuel segments driving recovery. The company has stabilized operations and is targeting 20-22% growth in revenue and profitability for the current fiscal year, signaling a turnaround phase supported by operational improvements and strategic segment expansion.
Revenue declined 19.9% QoQ to ₹50 in Q1FY27.
⚠️ Revenue volatility persists despite improvement, with Q1 FY26-27 revenue down 19% QoQ to ₹49.70 crores from ₹61.81 crores, raising concerns about sust

Market Cap

₹375

P/E Ratio

24.6

P/B Ratio

1.00

ROE

8.4%

ROCE

10.0%

Debt/Equity

0.04

Promoter

58.5%

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📖 The Story

Avonmore Capital & Management Services Ltd is transitioning from a loss-making entity to a profitable, diversified financial services firm, with its core Financial Services and Green Fuel segments driving recovery. The company has stabilized operations and is targeting 20-22% growth in revenue and profitability for the current fiscal year, signaling a turnaround phase supported by operational improvements and strategic segment expansion.

📰 What's Happening

In Q1 FY26-27, Avonmore returned to profitability with consolidated profit of ₹17.39 crores, reversing a ₹6.88 crore loss in the previous quarter. Financial Services revenue rose to ₹17.57 crores with a profit of ₹8.81 crores, up from a loss of ₹13.81 crores. Infrastructure Advisory revenue grew to ₹28.53 crores from ₹22.43 crores, and NBFC operations returned to profit of ₹1.72 crores from a minor loss. Management highlighted this segmental recovery as a foundation for future expansion, with expectations of sustained growth in revenue and margins.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	37	58	62	50
Operating Profit	5	11	-13	12
OPM %	14.7%	18.9%	-20.3%	23.9%
Net Profit	6	15	-7	17
EPS	₹0.16	₹0.32	₹-0.34	₹0.40

The company's financial trajectory shows a clear inflection point: after two consecutive quarters of loss (Dec 2025: NP ₹15 crore, Mar 2026: NP ₹-7 crore), profitability improved sharply in Q1 FY26-27 with NP of ₹17.39 crores. This turnaround aligns with management's disclosed recovery in Financial Services and NBFC segments, where losses were replaced with profits. Revenue declined slightly quarter-on-quarter to ₹49.70 crores from ₹61.81 crores, but this was offset by improved segmental profitability and a shift from consolidated loss to profit. The trend reflects operational stabilization rather than growth-driven expansion, with margins improving from -20.3% in Mar 2026 to 23.9% in Jun 2026.

🔮 Management Outlook & What's Next

Management expects 20-22% growth in revenue and profitability for the current financial year, as explicitly stated in the Q1 FY26-27 filing. This guidance is tied to continued recovery in core segments, particularly Financial Services and Infrastructure Advisory, and implies confidence in sustaining improved margins. No specific drivers beyond segment performance were detailed, but the outlook is anchored in the operational momentum observed in recent quarters.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	24	29	29	29
Reserves	296	345	350	358
Borrowings	24	15	26	25
Total Liabilities	519	580	579	581
Fixed Assets	71	28	60	59
Investments	157	214	206	212
Total Assets	519	580	579	581

The balance sheet shows stable leverage and capital structure, with total borrowings held steady at ₹25-26 crores over the past two fiscal years and equity remaining flat at ₹29 crores. Reserves have modestly increased, indicating retained earnings are being built gradually. There is no aggressive capital raising or debt reduction signal, suggesting management is prioritizing operational stability over aggressive balance sheet restructuring. The lack of debt reduction despite profitability suggests reinvestment or cautious capital allocation.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-7
Investing	-20
Financing	+45
Net Cash Flow	+18

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	58.5%	58.5%	58.5%	58.5%
FII	0.0%	0.0%	0.1%	0.0%
DII	0.0%	0.0%	0.0%	0.0%
Public	30.3%	30.1%	29.8%	29.5%
# Shareholders	31,649	29,559	28,413	27,939

Promoter holding remains stable at 58.46% across all recent quarters, indicating no dilution or stake sale. Institutional ownership (FII/DII) remains very low, collectively holding less than 0.1% of shares, with no significant accumulation or exit observed in recent filings. The small stake increases by Innovative Money Matters Pvt Ltd (from 33.51% to 33.53%) reflect minor, incremental accumulation by a single investor, not a strategic shift. The broad shareholder base (27,939 shareholders) suggests retail dominance.

⚖️ Peer Comparison — Finance

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
BAJFINANCE	6.56 L Cr	32.2	10.4%	18.1%	3.82
BAJAJFINSV	3.15 L Cr	31.0	11.4%	26.5%	5.50
SHRIRAMFIN	2.49 L Cr	18.7	11.5%	17.1%	3.80
TATACAP	1.56 L Cr	28.6	8.4%	12.3%	5.28
JIOFIN	1.56 L Cr	73.3	2.3%	1.6%	0.17
CHOLAFIN	1.55 L Cr	26.7	9.3%	18.9%	6.93
ICICIAMC	1.50 L Cr	30.0	111.5%	83.6%	0.00
BAJAJHLDNG	1.26 L Cr	14.3	12.4%	12.3%	0.00
MUTHOOTFIN	1.17 L Cr	10.3	14.4%	29.3%	3.88
SBIFUNDS	1.16 L Cr	—	—	—	0.00

🔗 Peer Stock Analyses

BAJFINANCE BAJAJFINSV SHRIRAMFIN TATACAP JIOFIN

⚠️ Risk Factors

1. Revenue volatility persists despite improvement, with Q1 FY26-27 revenue down 19% QoQ to ₹49.70 crores from ₹61.81 crores, raising concerns about sustainability of growth. 2. The company's return to profitability was driven by one-time or non-recurring items in segmental performance, as indicated by the sharp swing in Financial Services from loss to profit without proportional revenue growth. 3. Management's 20-22% growth guidance lacks specificity on execution risks, including margin pressure or competitive dynamics in Financial Services and Green Fuel segments. 4. Low institutional interest and thin trading volumes may limit liquidity and price discovery during volatility.

📋 Recent Filings

🧠 Analyst's Read

Avonmore Capital is in a fragile recovery phase, with profitability improving from a low base but revenue trends showing signs of contraction. Management's growth outlook is optimistic but not yet backed by consistent top-line expansion. Investors should monitor whether the next quarter delivers revenue growth alongside profitability to validate the turnaround narrative, particularly in the Financial Services segment where performance has been most volatile.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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