As of 6 Nov 2026, Goyal Associates is loss-making on a trailing 12-month basis, with a net loss of ₹0.06 Cr, so it has no P/E ratio. The share price is ₹1.28, 15% below its 52-week high. ROCE and debt-to-equity are not meaningful for banks and lenders; it trades at 1.35× book value. It is a small-cap company with a market cap of ₹6.78 Cr, ranked 181st of 193 Credit Services companies by market cap; the shares rose 21% over the past year.
- ₹1.29
- ₹1.29
- ₹1.18
- ₹1.23
- 5.8K
Health check
- ReturnsAhead
+20.6% over a year, better than 6 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- Growthn/a
Not enough yearly results to measure.
- ProfitabilityNegative
ROE -5.1% vs peer median 18.7%.
- Balance sheetn/a
Asset quality (bad loans) isn’t in our data.
- Red flags2 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹6.78 Cr
- Small cap
- P/E
- n/a
- Industry 15.5
- Price to book
- 1.35
- Peers 2.62
- Dividend yield
- 0.00%
- ROE
- −5.1%
- Peers 18.7%
- ROCE
- n/m
- Not meaningful for lenders
- Debt to equity
- n/m
- Not meaningful for lenders
- EPS (TTM)
- −₹0.01
- OPM (TTM)
- −5.2%
- Net margin −4.2%
- Sales growth
- n/m
- Not meaningful for lenders
- Profit growth
- +1791.7%
- Latest quarter vs a year ago
- Price to sales
- 5.05
- EV/EBITDA −137.8
Strengths and risks
Strengths
- Quarterly profit up 1791.7% on a year ago.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −5.1%.
About Goyal Associates
Goyal Associates Limited, a non-banking financial service company, engages in the financing and investment activities in India. It provides fund-based activities such as, micro enterprise, SME, vehicle, and agro based loans; and personal loans, as well as loans to micro financial institutions and NBFCs. The company is also involved in the share trading and other financial related activities of NBFCs. Goyal Associates Limited was incorporated in 1994 and…
- Headquarters
- Hyderabad
- Sector
- Financial Services
- ISIN
- INE912B01032
- Website
- goyalnbfc.in
Price range
- Avg volume (3M)
- 77.2K
- 1-year return
- plus 20.6%
- From 52-week high
- minus 14.7%
Peers · Credit Services
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCEBajaj Finance | 1,087.75 | plus 1.66% | 6,77,005 | 31.3 | 5.49 | 19.0% | 3.8% | 18.2% | 0.50% | plus 1.2% |
| SHRIRAMFINShriram Finance | 961.15 | minus 0.30% | 2,26,167 | 16.0 | 2.03 | 14.8% | 3.9% | 18.6% | 1.80% | plus 21.0% |
| CHOLAFINCholamandalam Investment and Finance Company | 1,785.00 | plus 1.42% | 1,53,103 | 24.5 | 4.41 | 20.6% | 2.6% | 25.2% | 0.11% | plus 0.8% |
| TATACAPTata Capital | 358.05 | plus 2.93% | 1,50,979 | 25.4 | 3.10 | 14.1% | 2.2% | – | 0.16% | plus 5.6% |
| MUTHOOTFINMuthoot Finance | 2,869.00 | plus 1.06% | 1,15,181 | 9.4 | 2.62 | 31.6% | 6.3% | 43.1% | 1.05% | minus 11.0% |
| PFCPower Finance Corporation | 328.80 | minus 0.18% | 1,08,507 | 4.1 | 0.74 | 18.7% | 2.7% | 17.7% | 4.99% | minus 16.9% |
| IRFCIndian Railway Finance Corporation | 80.43 | plus 0.37% | 1,05,110 | 14.3 | 1.73 | 12.6% | 1.4% | 4.4% | 2.74% | minus 34.4% |
| GOYALASSGoyal Associates | 1.28 | plus 4.07% | 7 | – | 1.35 | −5.1% | – | – | 0.00% | plus 20.6% |
| Median of 7 peers | – | 1.06% | 1,50,979 | 16.0 | 2.62 | 18.7% | 2.7% | 18.4% | 1.05% | 0.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | |
| 0.3 | 0.2 | 0.2 | 0.8 | 0.1 | |
| 0 | 0.1 | 0.1 | −0.5 | 0.2 | |
| 10.6% | 24.7% | 23.6% | −118.7% | 62.7% | |
| 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | |
| – | – | – | 0.1 | – | |
| 0 | 0.1 | 0 | −0.4 | 0.2 | |
| – | – | – | −6.1% | – | |
| 0 | 0.1 | 0 | −0.4 | 0.2 | |
| 0.00 | 0.01 | 0.01 | -0.07 | 0.04 |
Profit & loss
- ROE
- −5.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.4 | 3.8 | 2.6 | 1.2 | |
| – | +10.1% | minus 30.0% | minus 52.8% | |
| 2.4 | 2.7 | 1.7 | 1.5 | |
| 1 | 1.1 | 1 | −0.3 | |
| 28.2% | 29.3% | 36.6% | −22.7% | |
| −0 | 0 | 0 | 0.1 | |
| 0.1 | 0.1 | 0.1 | – | |
| 0.2 | 0.2 | 0.1 | 0.1 | |
| – | – | 0.1 | – | |
| 0.7 | 0.8 | 0.9 | −0.3 | |
| 17.4% | 25.1% | 14.6% | 8.2% | |
| 0.6 | 0.6 | 0.7 | −0.3 | |
| – | +7.2% | +17.0% | minus 136.9% | |
| 0.13 | 0.13 | 0.14 | -0.05 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.7 | 4.7 | 5.3 | 5.3 | |
| −2.1 | −1.4 | 0.2 | −0.1 | |
| 1.2 | 1.1 | 1.1 | 1.1 | |
| 1.1 | 1.7 | 1.9 | 2.2 | |
| 5 | 6.1 | 8.5 | 8.5 | |
| 0.3 | 0.2 | 0 | 0 | |
| 0.1 | 0 | 0.1 | 0 | |
| 4.6 | 5.8 | 8.3 | 8.4 | |
| 5 | 6.1 | 8.5 | 8.5 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.9 | −0 | −1.5 | −0.2 | |
| −0.4 | −0 | 0.2 | – | |
| −0.7 | −0 | 1.4 | 0.1 | |
| −0.3 | −0.1 | 0.1 | −0.1 | |
| −0.4 | −0 | – | – | |
| 0.4 | −0.1 | −1.5 | −0.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.