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IndiaPulse
Themes / NBFC

NBFC

Retail, vehicle, gold, MSME, and infrastructure finance companies.

NBFCAuto-built

Theme scorecard

Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.

Build portfolio from this theme
Theme
43
Stretched
Quality
23
Valuation
65
Momentum
50
Positive MoS
65%
P/E 28.2 · ROCE 12%
Curated research view

NBFC

A focused investor view: high-conviction names first, then small/micro exposure only as controlled satellite risk. Live U-Score and MoS still come from the current database.

67/100
Theme score
Selective
Investability
42.2
Live avg U
-198.1%
Live avg MoS

Curated company map

Names from the curated theme note. Solid chips are present in the live tagged cohort; dashed chips need tag review, ticker verification, or may be indirect/unlisted exposure.

11/11 live tagged

Investment thesis

NBFCs serve MSME, rural, vehicle, gold, consumer, and infrastructure finance niches where banks are less nimble. Funding quality and asset quality are the key differentiators.

1-2 year outlook: Constructive for well-capitalised lenders with strong underwriting and stable funding.
Recommended allocation: 5-10%.

Key triggers

  • Rate easing and lower funding cost
  • Vehicle and MSME demand
  • Gold and rural recovery
  • Infra finance growth

Major risks

  • ALM and liquidity risk
  • Asset-quality shocks
  • Regulatory tightening
  • Bank competition
Small, micro, and SME names should be opt-in exposure. Suggested filters: U-Score above 65, positive MoS, Piotroski 7+, debt/equity below 0.8, promoter pledge below 10%, and enough traded value to exit without slippage.

Thesis

A data-generated NBFC basket from tagged stocks. Funding quality and asset quality are central to the theme.

  • Credit growth
  • Funding-cost cycle
  • ALM and credit risk

Top picks · ranked by U-Score within this cohort

Full cohort

CRAMCMicro
Canara Robeco Asset Management Company Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +28.4%Piotroski: 8/9ROCE: 40%P/E: 23.7D/E: 0.02
71
U-Score
246.50
Open →
INDOTHAISmall
Indo Thai Securities Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +42.5%Piotroski: 6/9ROCE: 35%P/E: 38.7D/E: 0.09
70
U-Score
227.65
Open →
AFSLSmall
Abans Financial Services Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +67.9%Piotroski: 7/9ROCE: 8%P/E: 10.6D/E: 0.60
68
U-Score
201.00
Open →
MUTHOOTFINLarge
Muthoot Finance Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +75.9%Piotroski: 3/9ROCE: 16%P/E: 11.2D/E: 3.88
67
U-Score
2991.10
Open →
BLILSmall
Balmer Lawrie Investments Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +73.1%Piotroski: 5/9ROCE: 17%P/E: 8.9D/E: 0.15
67
U-Score
71.18
Open →
BAJAJHLDNGLarge
Bajaj Holdings & Investment Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +65.6%Piotroski: 8/9ROCE: 11%P/E: 13.4D/E: 0.00
66
U-Score
10220.00
Open →
CSLFINANCESmall
CSL Finance Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +82.5%Piotroski: 3/9ROCE: 14%P/E: 6.0D/E: 1.38
63
U-Score
222.70
Open →
ALMONDZSmall
Almondz Global Securities Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +72.8%Piotroski: 6/9ROCE: 12%P/E: 8.2D/E: 0.18
63
U-Score
13.41
Open →
AMJLANDSmall
Amj Land Holdings Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +69.9%Piotroski: 8/9ROCE: 10%P/E: 9.9D/E: 0.00
63
U-Score
36.30
Open →
SHAKTIPUMPMicro
Shakti Pumps (India) Limited
Industrials
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +44.9%Piotroski: 8/9ROCE: 24%P/E: 24.8D/E: 0.29
63
U-Score
525.80
Open →
RECLTDLarge
REC Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +83.3%Piotroski: 4/9ROCE: 10%P/E: 5.5D/E: 6.05
61
U-Score
352.00
Open →
JMFINANCILSmall
JM Financial Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +71.7%Piotroski: 6/9ROCE: 12%P/E: 9.2D/E: 1.09
61
U-Score
119.25
Open →
HYBRIDFINSmall
Hybrid Financial Services Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +45.6%Piotroski: 8/9ROCE: 9%P/E: 18.0D/E: 0.02
60
U-Score
16.52
Open →
BFINVESTSmall
BF Investment Limited
Financial Services
UNDERVALUED

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +34.8%Piotroski: 8/9ROCE: 5%P/E: 5.7D/E: 0.00
60
U-Score
432.90
Open →
PFCLarge
Power Finance Corporation Limited
Financial Services
FAIR VALUE

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +83.5%Piotroski: 3/9ROCE: 10%P/E: 5.5D/E: 7.62
59
U-Score
435.60
Open →
NAHARINDUSSmall
Nahar Industrial Enterprises Limited
Industrials
FAIR VALUE

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +78.4%Piotroski: 5/9ROCE: 7%P/E: 9.6D/E: 0.65
59
U-Score
117.08
Open →
ANANDRATHISmall
Anand Rathi Wealth Limited
Financial Services
FAIR VALUE

Auto-included from the NBFC tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: -123.3%Piotroski: 8/9ROCE: 59%P/E: 73.6D/E: 0.08
59
U-Score
1730.00
Open →
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The rationale above is editorial — the ranking uses our U-Score engine so the names you see first are the strongest fundamentals fit, not the most popular or most-mentioned. Re-rank yourself if you weigh valuation or quality differently. All information is for study purposes only — consult your financial advisor before investing.