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Advik Capital Ltd

ADVIKCA

NSE

₹0.960.00%19 Oct 2026

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NBFC Others

Advik Capital Ltd

ADVIKCA

NSE

₹0.96

0.00%

19 Oct 2026

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NBFC Others

Indices

Business Overview: What the company does, in plain English.

Advik Capital - a non-bank lender that was fundamentally reshaped in 2023 when new promoters acquired it and set out to build a financial institution that could one day cross the ₹500-crore asset threshold - the mark of a systemically important NBFC. Originally incorporated as an industrial company and renamed from Advik Industries Limited to Advik Capital Limited in 2017, it pivoted to lending and now operates by extending credit to businesses, investing its own capital in securities and private companies, and incubating fund-management ambitions - all while relying on a philosophy of long-term client relationships rather than one-off deals.

Business segments

Three engines at different stages - a corporate-lending core that generates the bulk of activity, a securities-and-investments arm that puts the company’s own capital to work, and an emerging supply-chain finance initiative that extends credit into supplier networks.

1. Corporate lending: where the loan book lives

The company lends its own capital to industrial borrowers and infrastructure projects, earning interest income while managing credit risk through collateral requirements and an internal rating system.

Unsecured loans, secured by external collateral - every loan is unsecured on the company’s own books, but the company requires an enforceable charge over the borrower’s or a third party’s assets before disbursing funds, so recovery has a legal backstop.
Priced for risk, not just cost - interest rates are set by weighing the cost of funds, expected credit losses, and operational costs, and can be fixed or floating, which means the company can adjust pricing as a borrower’s profile or market conditions change.
Infrastructure is a deliberate bet - the company has financed NHAI-backed highway projects under the Hybrid Annuity Model, where the government pays 40% of the project cost upfront and the remaining 60% as an annuity over 10-12 years, making it a low-credit-risk sector for lenders.
Early-warning systems flag trouble - a credit-monitoring framework identifies stressed accounts early and can limit further exposure or accelerate repayment, while an internal three-tier rating system (Low, Moderate, High) sorts every exposure by credit risk.
Distribution runs through branches and agents - the company plans to grow its loan book by adding new branches across India and relies on a dedicated marketing team and a growing agent network to reach borrowers, rather than a digital-only model.

2. Investments and securities: the company’s own capital at work

Beyond lending to others, Advik Capital invests its own funds in equities, preference shares, and a wholly owned subsidiary, while also trading securities and laying the groundwork for fund management.

A portfolio built on equity and quasi-equity - as of March 2025, total investments stood at roughly ₹281 crore, split across equity instruments, compulsorily convertible preference shares, and a small quoted-equity trading book, giving the company exposure to both private and listed opportunities.
The subsidiary is the largest single bet - the company owns 100% of Advikca Finvest Limited, an investment and advisory vehicle, carried on the books at about ₹101 crore, making it the single largest investment in the portfolio.
Securities trading is a distinct, smaller stream - the company runs a separate Securities/Share Division that buys and sells securities for trading gains, which in earlier years generated revenue from the sale of securities.
An asset manager in the making - the company is examining the possibility of foraying into sponsoring a Category-II Alternative Investment Fund and firming up plans for the fund, aiming to raise an initial corpus of around ₹250 crore, and plans to invest in healthcare, infrastructure, and manufacturing, with a second phase targeting stressed but revivable assets.
A bid for distressed-asset capability - it also submitted an expression of interest to acquire an Asset Reconstruction Company registered with the RBI, which would let it enter the business of resolving non-performing loans under the SARFAESI Act.

3. Supply-chain finance: credit woven into buyer-supplier networks

A newer initiative that extends working-capital and infrastructure financing directly to suppliers of a large FMCG company, with plans to replicate the model across multiple industrial sectors.

Anchored to a corporate buyer - the company signed an MoU with a leading agri-product FMCG company to provide tailored financing to its suppliers, structuring the arrangements so that repayment flows from the supplier without recourse to the corporate anchor.
Designed to spread across industries - the model is being built for replication in agri-food, FMCG, consumer durables, metals, and engineering goods, which would diversify the loan book away from its current corporate concentrations.
Part of a deliberate diversification push - management sees supply-chain finance as a way to reduce concentration risk in the overall credit portfolio, ensuring no single product or borrower type dominates the book.

Group structure and partners

The company operates through a single wholly owned investment subsidiary and is controlled by a promoter group that acquired it in 2023, with a legacy manufacturing subsidiary having been exited in late 2024.

Advikca Finvest Limited is the sole subsidiary - incorporated in November 2022 and held 100%, it deals in shares, securities, and investment advisory, acting as an extension of the group’s investment activities.
The old manufacturing arm is gone - Advik Optoelectronics Limited, which made emergency signage and LED safety equipment, ceased to be a subsidiary in September 2024, ending the company’s direct exposure to electronics manufacturing.
Promoters took control through a clean-slate acquisition - Mr. Vikas Garg and Mrs. Seema Garg bought out the entire stake of the founding promoters in 2022-23 via a share purchase agreement and a mandatory open offer, and the RBI approved the change in control in January 2023.
A significant non-promoter shareholder has emerged - Fairplan Distributors Private Limited accumulated a 6.92% stake through open-market purchases between October and December 2025, making it a large public shareholder alongside the promoter group’s 21.8% holding.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Mkt Cap

Market Capitalization

₹58Cr

Close Price

₹0.96

Industry

NBFC Others

Price To Earnings

—

Price To Sales

-10.30

Revenue

₹-6Cr

Rev Gr TTM

Revenue Growth TTM

-117.50%

PAT Gr TTM

PAT Growth TTM

-534.17%

Consolidated

Standalone

Numbers

Percentage

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue RevenueCr	210	1	228	102	13	7	7	6	-3	-9	4	2
Growth YoY Revenue Growth YoY%	457.8	-99.7	49.2	-35.0	-93.9	757.9	-96.8	-94.5	-122.1	-236.3	-44.0	-66.5
Interest Expended Interest ExpendedCr	2	2	2	2	3	4	3	4	4	3	5	7
Expenses ExpensesCr	207	1	223	100	4	1	2	2	20	-6	0	2
Financing Profit Financing ProfitCr	1	-2	3	0	6	2	2	1	-26	-6	-1	-7
FPM FPM%	0.6	-315.8	1.3	0.3	46.7	24.9	20.9	9.5	921.2	66.7	-26.3	-360.5
Other Income Other IncomeCr	0	3	0	0	5	-4	0	0	0	1	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	1	0	0	0	0
PBT PBTCr	1	0	3	0	11	-3	1	0	-26	-5	-1	-7
Tax TaxCr	1	1	1	0	3	-2	1	0	-5	-2	0	0
PAT PATCr	0	-1	2	0	7	-1	0	1	-21	-2	-1	-7
Growth YoY PAT Growth YoY%	-87.3	30.4	235.7	-103.9	1,463.8	-29.8	-79.6	345.8	-383.9	-86.1	-347.9	-1,274.6
NPM NPM%	0.2	-123.7	1.0	-0.2	57.4	-18.7	6.5	10.4	737.5	25.5	-28.7	-364.7
EPS EPS₹	0.0	-0.1	0.1	0.0	0.1	0.0	0.0	0.0	-0.3	0.0	0.0	-0.1

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue RevenueCr	210	1	228	102	13	7	7	6	-3	-9	4	2
Growth YoY Revenue Growth YoY%	457.8	-99.7	49.2	-35.0	-93.9	757.9	-96.8	-94.5	-122.1	-236.3	-44.0	-66.5
Interest Expended Interest ExpendedCr	2	2	2	2	3	4	3	4	4	3	5	7
Expenses ExpensesCr	207	1	223	100	4	1	2	2	20	-6	0	2
Financing Profit Financing ProfitCr	1	-2	3	0	6	2	2	1	-26	-6	-1	-7
FPM FPM%	0.6	-315.8	1.3	0.3	46.7	24.9	20.9	9.5	921.2	66.7	-26.3	-360.5
Other Income Other IncomeCr	0	3	0	0	5	-4	0	0	0	1	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	1	0	0	0	0
PBT PBTCr	1	0	3	0	11	-3	1	0	-26	-5	-1	-7
Tax TaxCr	1	1	1	0	3	-2	1	0	-5	-2	0	0
PAT PATCr	0	-1	2	0	7	-1	0	1	-21	-2	-1	-7
Growth YoY PAT Growth YoY%	-87.3	30.4	235.7	-103.9	1,463.8	-29.8	-79.6	345.8	-383.9	-86.1	-347.9	-1,274.6
NPM NPM%	0.2	-123.7	1.0	-0.2	57.4	-18.7	6.5	10.4	737.5	25.5	-28.7	-364.7
EPS EPS₹	0.0	-0.1	0.1	0.0	0.1	0.0	0.0	0.0	-0.3	0.0	0.0	-0.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	2	7	3	5	7	6	46	604	13	29	1	-6
Growth Revenue Growth%	6.4	193.2	-56.7	46.9	65.0	-16.4	642.3	1,200.7	-97.9	122.3	-95.2	-117.5
Interest Expended Interest ExpendedCr	0	0	0	0	0	0	0	3	8	11	14	18
Expenses ExpensesCr	3	7	2	4	7	6	46	588	4	7	18	16
Financing Profit Financing ProfitCr	0	0	1	0	0	0	1	13	1	11	-30	-40
FPM FPM%	-4.9	6.2	16.8	4.6	4.4	4.2	1.6	2.1	7.5	38.0	-2,208.8	704.4
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	9	1	2	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	1	1	1	0
PBT PBTCr	0	0	0	0	0	0	1	13	9	11	-29	-39
Tax TaxCr	0	0	0	0	0	0	0	3	3	2	-7	-8
PAT PATCr	0	0	0	0	0	0	0	9	6	8	-22	-31
Growth PAT Growth%	-89.5	444.9	50.6	17.2	-7.7	-34.4	558.1	1,873.2	-32.0	29.5	-368.1	-534.2
NPM NPM%	0.5	0.9	3.3	2.6	1.5	1.1	1.0	1.6	49.2	28.7	-1,616.3	551.3
EPS EPS₹	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.2	0.2	-0.4	-0.5

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	2	7	3	5	7	6	46	604	13	29	1	-6
Growth Revenue Growth%	6.4	193.2	-56.7	46.9	65.0	-16.4	642.3	1,200.7	-97.9	122.3	-95.2	-117.5
Interest Expended Interest ExpendedCr	0	0	0	0	0	0	0	3	8	11	14	18
Expenses ExpensesCr	3	7	2	4	7	6	46	588	4	7	18	16
Financing Profit Financing ProfitCr	0	0	1	0	0	0	1	13	1	11	-30	-40
FPM FPM%	-4.9	6.2	16.8	4.6	4.4	4.2	1.6	2.1	7.5	38.0	-2,208.8	704.4
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	9	1	2	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	1	1	1	0
PBT PBTCr	0	0	0	0	0	0	1	13	9	11	-29	-39
Tax TaxCr	0	0	0	0	0	0	0	3	3	2	-7	-8
PAT PATCr	0	0	0	0	0	0	0	9	6	8	-22	-31
Growth PAT Growth%	-89.5	444.9	50.6	17.2	-7.7	-34.4	558.1	1,873.2	-32.0	29.5	-368.1	-534.2
NPM NPM%	0.5	0.9	3.3	2.6	1.5	1.1	1.0	1.6	49.2	28.7	-1,616.3	551.3
EPS EPS₹	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.2	0.2	-0.4	-0.5

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital Equity CapitalCr	5	5	6	6	6	5	5	22	43	61	61	61
Reserves ReservesCr	4	4	5	6	6	6	6	37	70	104	82	74
Borrowings BorrowingsCr	0	4	1	1	2	3	5	75	79	153	144	263
Other Liabilities Other LiabilitiesCr	0	3	1	1	1	1	1	9	13	16	16	17
Total Liabilities Total LiabilitiesCr	9	15	14	13	16	14	17	143	204	334	303	414
Fixed Assets Fixed AssetsCr	3	3	2	2	2	2	2	2	3	3	2	2
Cash Equivalents Cash EquivalentsCr	0	0	0	0	0	0	0	1	1	1	10	1
Other Assets Other AssetsCr	6	12	12	11	13	12	14	139	200	330	291	411
Total Assets Total AssetsCr	9	15	14	13	16	14	17	143	204	334	303	414

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital Equity CapitalCr	5	5	6	6	6	5	5	22	43	61	61	61
Reserves ReservesCr	4	4	5	6	6	6	6	37	70	104	82	74
Borrowings BorrowingsCr	0	4	1	1	2	3	5	75	79	153	144	263
Other Liabilities Other LiabilitiesCr	0	3	1	1	1	1	1	9	13	16	16	17
Total Liabilities Total LiabilitiesCr	9	15	14	13	16	14	17	143	204	334	303	414
Fixed Assets Fixed AssetsCr	3	3	2	2	2	2	2	2	3	3	2	2
Cash Equivalents Cash EquivalentsCr	0	0	0	0	0	0	0	1	1	1	10	1
Other Assets Other AssetsCr	6	12	12	11	13	12	14	139	200	330	291	411
Total Assets Total AssetsCr	9	15	14	13	16	14	17	143	204	334	303	414

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	-1	1	0	-1	0	-2	-88	-52	-112	36
Investing Cash Flow Investing Cash FlowCr	0	1	-1	0	0	0	0	-27	7	-8	-5
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	1	0	2	116	45	120	-22
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	0	1	0	0	9
Free Cash Flow Free Cash FlowCr	1	-1	1	0	-1	0	-2	-88	-54	-116	37
CFO To EBITDA CFO To EBITDA%	-300.1	-215.7	195.3	224.8	-298.1	-122.2	-224.3	-680.3	-5,380.5	-1,023.4	-119.3

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	-1	1	0	-1	0	-2	-88	-52	-112	36
Investing Cash Flow Investing Cash FlowCr	0	1	-1	0	0	0	0	-27	7	-8	-5
Financing Cash Flow Financing Cash FlowCr	0	0	0	0	1	0	2	116	45	120	-22
Net Cash Flow Net Cash FlowCr	0	0	0	0	0	0	0	1	0	0	9
Free Cash Flow Free Cash FlowCr	1	-1	1	0	-1	0	-2	-88	-54	-116	37
CFO To EBITDA CFO To EBITDA%	-300.1	-215.7	195.3	224.8	-298.1	-122.2	-224.3	-680.3	-5,380.5	-1,023.4	-119.3

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	6	18	20	8	4	7	85	83	107	94	99	58
Price To Earnings Price To Earnings	416.7	3,880.0	219.5	92.5	5.3	155.0	38.7	8.9	16.7	11.1
Price To Sales Price To Sales	2.0	2.5	6.5	1.9	0.6	1.1	1.8	0.1	5.0	3.2	35.2	-10.3
Price To Book Price To Book	0.7	20.3	2.3	1.0	0.1	0.7	1.6	1.4	0.9	0.6	0.7	0.4
EV To EBITDA EV To EBITDA	-44.8	47.5	41.3	45.7	20.1	37.2	119.7	12.0	191.1	22.6	-7.7	-8.0
Profitability Ratios Profitability Ratios
FPM FPM%	-5.1	6.2	16.8	4.6	4.5	4.2	1.6	2.1	7.5	38.0	-2,215.7	704.4
NPM NPM%	0.5	0.9	3.3	2.6	1.5	1.1	1.0	1.6	49.2	28.7	-1,616.3	551.3
ROCE ROCE%	0.5	2.0	3.5	1.9	2.3	2.4	5.4	11.8	8.6	6.8	-5.4	-5.2
ROE ROE%	0.1	0.8	0.9	1.0	0.9	0.7	4.4	15.9	5.6	5.0	-15.4	-23.2
ROA ROA%	0.1	0.4	0.7	0.9	0.7	0.5	2.8	6.6	3.1	2.5	-7.3	-7.5
Solvency Ratios Solvency Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	6	18	20	8	4	7	85	83	107	94	99	58
Price To Earnings Price To Earnings	416.7	3,880.0	219.5	92.5	5.3	155.0	38.7	8.9	16.7	11.1
Price To Sales Price To Sales	2.0	2.5	6.5	1.9	0.6	1.1	1.8	0.1	5.0	3.2	35.2	-10.3
Price To Book Price To Book	0.7	20.3	2.3	1.0	0.1	0.7	1.6	1.4	0.9	0.6	0.7	0.4
EV To EBITDA EV To EBITDA	-44.8	47.5	41.3	45.7	20.1	37.2	119.7	12.0	191.1	22.6	-7.7	-8.0
Profitability Ratios Profitability Ratios
FPM FPM%	-5.1	6.2	16.8	4.6	4.5	4.2	1.6	2.1	7.5	38.0	-2,215.7	704.4
NPM NPM%	0.5	0.9	3.3	2.6	1.5	1.1	1.0	1.6	49.2	28.7	-1,616.3	551.3
ROCE ROCE%	0.5	2.0	3.5	1.9	2.3	2.4	5.4	11.8	8.6	6.8	-5.4	-5.2
ROE ROE%	0.1	0.8	0.9	1.0	0.9	0.7	4.4	15.9	5.6	5.0	-15.4	-23.2
ROA ROA%	0.1	0.4	0.7	0.9	0.7	0.5	2.8	6.6	3.1	2.5	-7.3	-7.5
Solvency Ratios Solvency Ratios

	BAMPSL	CEEJAY	MINOLTAF	ADVIKCA	MTPL	DHRUVCA	DCCL
Market CapitalizationMkt CapCr	61	59	59	58	56	56	54
Close PriceClose₹	17.88	171.60	1.18	0.96	7.23	77.24	38.00
IndustryIndustry	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others
Price To EarningsPE	137.54	7.42			7.16	40.87	5.26
Price To SalesPS	3.02	2.26	3.98	-10.30	7.00	17.86	1.04
RevenueRevenueCr	20	26	15	-6	8	3	52
Revenue Growth TTMRev Gr TTM%	-20.9%	-4.0%	421.5%	-117.5%	47.5%	25.9%	25.7%
PAT Growth TTMPAT Gr TTM%	-78.6%	18.2%	-273.3%	-534.2%	319.6%	64.5%	37.9%

	BAMPSL	CEEJAY	MINOLTAF	ADVIKCA	MTPL	DHRUVCA	DCCL
Market CapitalizationMkt CapCr	61	59	59	58	56	56	54
Close PriceClose₹	17.88	171.60	1.18	0.96	7.23	77.24	38.00
IndustryIndustry	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others
Price To EarningsPE	137.54	7.42			7.16	40.87	5.26
Price To SalesPS	3.02	2.26	3.98	-10.30	7.00	17.86	1.04
RevenueRevenueCr	20	26	15	-6	8	3	52
Revenue Growth TTMRev Gr TTM%	-20.9%	-4.0%	421.5%	-117.5%	47.5%	25.9%	25.7%
PAT Growth TTMPAT Gr TTM%	-78.6%	18.2%	-273.3%	-534.2%	319.6%	64.5%	37.9%

FY2026

FY2025

FY2024

FY2023

FY2022

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FY2020

FY2026

Sep 26