CSL Finance Ltd(CSLFINANCE)

NSE: CSLFINANCEBSE: 530067

₹ 212.45-0.38%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 484 crWebsite: www.cslfinance.inUpdated: 24 Oct 2026

About

CSL Finance is an NBFC established in 1992 that lends to SMEs, non-salaried individuals and professionals, and to real estate developers. Its AUM was Rs 1,505 cr in Q1 FY27, split 30:70 between SME Retail and Wholesale. Reported revenue for FY26 was 256.06 crore. It was reclassified to the NBFC Middle Layer after its assets crossed ₹1,000 crore, and holds an A- Stable credit rating, its highest ever.^[1][2][3]

Business segments

The SME Retail:Wholesale AUM mix was 30:70 in Q1 FY27, against 31:69 in Q4 FY26 and 34:66 a year earlier.^[2][4]
Wholesale Lending makes loans to real estate developers in the NCR region, mainly for group housing and plotted development projects.^[1]
The whole SME Retail book is secured. As of FY25, 86% of collateral was SORP and 14% was SOCP.^[1]
Gross carrying value at FY25 end: Wholesale loans Rs 775.33 cr and SME loans Rs 382.45 cr.^[1]

Loan book and asset quality

AUM was Rs 1,505 cr in Q1 FY27, up 16% YoY and 4% QoQ. On-book AUM was Rs 1,472 cr, up 18% YoY.^[2]
Disbursements were Rs 321 cr in Q1 FY27, up 5% YoY.^[2]
GNPA was 0.95% and NNPA 0.60% in Q1 FY27, up 39 bps and 18 bps YoY. In Q4 FY26 they were 1.10% and 0.81%.^[2][4]
PCR was 123.20% in Q1 FY27. In Q4 FY26 it was 121.57%, down from 255.87% a year earlier.^[2][4]
Collection efficiency was 98% in Q1 FY27.^[2]
Credit cost was 0.54% in FY26, down from 0.75%.^[4]
More than two-thirds of the book is SARFAESI-compliant, according to management in Q4 FY26.^[4]

Capital and funding

CAR was 42.90% in Q1 FY27, against 43.28% in Q4 FY26.^[2][4]
Debt-to-equity was 1.39x in Q1 FY27. In Q4 FY26 it was also 1.39x, up from 1.28x a year earlier.^[2][4]
Finance cost as a share of average AUM was 6.55% in FY26, up from 6.23%.^[4]
The lender base was 35 in Q1 FY27, up from 32 as of March 31, 2025.^[2][1]
Rs 60 cr had been drawn from the recent NCD issue by Q1 FY27, with a further Rs 90 cr available.^[2]
Bank of Baroda was added as a lender in Q4 FY26. SBM Bank and Punjab & Sind Bank were added in Q3 FY26.^[4][5]

Operating returns

Annualised ROA was 5.86% and ROE 13.82% in Q1 FY27, up from 5.19% and 12.87% in Q4 FY26.^[2]
NII was Rs 45.0 cr in Q1 FY27, up 12% YoY.^[2]
ROA was 6.30% in FY26, down from 6.46%.^[4]

Branches and reach

The branch network was 37 in Q1 FY27, as non-performing branches were closed and others relocated. It was 46 in Q3 FY26.^[2][5]
As of FY25 the company had 43 branches across 6 states and 1 Union Territory.^[1]
63% of SME Retail AUM comes from non-urban locations in Northern and Western India (FY25).^[1]
SME Retail loan accounts, excluding MSL, rose from 2,814 in FY24 to 3,063 in FY25.^[1]
The company employed 460 people as of March 31, 2025.^[1]

Plans

Management expects Wholesale to be the key growth driver in FY27 and SME Retail to return to growth over the coming year.^[2]
Joint-lending structures with industry partners in Wholesale are expected to strengthen fee income.^[2]
The company plans to onboard more PSU lenders to lower borrowing costs and secure larger sanctions.^[2]

Recent developments

For the quarter ended 30 Sep 2026, the on-book portfolio was ₹1,596 crore, up 24% YoY. Disbursements were ₹384 crore and collections ₹321 crore.^[6]
In Q2 FY27 the company received a ₹100 crore co-lending sanction from SIDBI and fresh sanctions of ₹285.50 crore, with a liquidity surplus of ₹277 crore.^[6]

Market Cap

₹484 Cr

High / Low

₹325 / 201

Stock P/E

5.6

Price / Book

0.8

Book Value

₹273

EPS

₹37.8

No. of Shares

2.28 Cr

ROE

14.8%

Debt / Equity

1.37

Sales

₹256 Cr

Net Profit

₹86 Cr

Promoter holding

49.2%

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