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Optimus Finance Ltd

OPTIFIN

NSE

₹14.490.00%19 Oct 2026

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NBFC Others

Optimus Finance Ltd

OPTIFIN

NSE

₹14.49

0.00%

19 Oct 2026

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NBFC Others

Indices

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

Optimus Finance began life as a small lending firm in Gujarat, but its real story started in 2015 when it created a subsidiary to trade base oils - the raw material for lubricants - and turned itself into the holding company at the centre of a cross-border industrial group. Today, the Vadodara-based entity is a listed NBFC that does very little lending of its own; instead, it holds controlling stakes in operating businesses that manufacture, trade, and distribute lubricants across the Middle East and Africa, with a newly planted flag in Indian real estate. The recurring pattern is a lean parent that parks its capital in subsidiaries and lets them run, building each new leg on the cash flows and market knowledge of the one before.

Business segments

Three engines at different stages - a cross-border lubricants platform that generates nearly all the group’s substance, a legacy NBFC book that now mostly holds the stake in that platform, and a real-estate venture that has yet to begin.

1. Lubricants and base oils: the group’s operating business

The group sources raw materials from India, blends them into finished lubricants in the UAE and Kenya, and sells across the Middle East and Africa - a single integrated chain from import to factory to customer.

Sourcing hub in India - Maximus International Limited, the listed Indian subsidiary, imports and exports lubricant oils and different types of base oils, acting as the group’s merchant-exporter and raw-material nerve centre.
Dedicated sales arms in the region - Maximus Global FZE in Sharjah markets and trades the products across the Middle East and Africa, while MX Africa Limited in Nairobi handles sales and distribution in East Africa, reaching customers in Uganda, Tanzania, and Rwanda.
Products for factories and fleets - the output spans automotive, industrial, and specialty lubricants that go into metalworking, refrigeration, electrical systems, paint, and ink industries, so the customer base is spread across multiple industries.

2. Financing and investment: the holding-company core

The NBFC licence is the legal shell that holds the group’s crown jewel - a controlling stake in the lubricants subsidiary worth far more on the market than on the parent’s books.

Loans are small and mostly internal - the standalone loan book stood at ₹6.26 crore as of March 2025, with over a third of that extended to related parties within the group, so credit risk is largely circular. The company used to run a retail vehicle-loan business but discontinued it, leaving a portfolio that management describes as carrying minimal loss risk.
The real asset is the MIL stake - OFL holds 78.33 crore equity shares in its listed subsidiary Maximus International Limited, carried on the books at ₹6.51 crore but with a market value of ₹79.04 crore as of March 2025, meaning the balance sheet understates the parent’s true economic interest by a factor of roughly twelve.
Lean by design - the NBFC operates with almost no staff (just two permanent employees as of FY23) and funds itself partly through modest borrowings, including an unsecured loan of ₹21.39 lakh from another finance company at 8.5%.
Trading adds a side income - the company also buys and sells marketable securities and mutual fund units, holding shares as inventory, which gives the parent a small, opportunistic revenue stream beyond dividends from its subsidiaries.

3. Real estate and infrastructure: the option on tomorrow

A wholly owned subsidiary was incorporated in July 2024 to enter property and construction, but as of that date it had not yet started any activity - it is a shell with a mandate.

Incorporated to diversify - Maximus Infra Ventures Limited was set up to pursue residential and commercial real estate as well as infrastructure and construction opportunities, adding a third leg to a group that already spans finance and lubricants.
Clean structure, no history - OFL holds 100% of the subsidiary’s equity (10,000 shares subscribed in cash), and the entity is registered in Gujarat with an authorised capital of ₹1 lakh, but operations had not commenced as of mid-2024.

Group structure and partners

The group is a pyramid of wholly or majority-owned subsidiaries stretching from Gujarat to the UAE and Kenya, with a promoter holding company at the top and no joint ventures anywhere.

Promoter and listing - Sukruti Infratech Private Limited owns 53.89% of OFL, which is itself listed on the BSE main board after migrating from the SME platform in 2019.
The lubricants chain - OFL holds a controlling stake in BSE-listed Maximus International Limited, which in turn owns 100% of the UAE trading hub Maximus Global FZE and the Kenyan sales arm MX Africa Limited; those two entities each own a manufacturing subsidiary - Maximus Lubricants LLC in Ras Al Khaimah and Quantum Lubricants (E.A.) Limited in Nairobi, both wholly owned subsidiaries.
No shared control - the group has no joint ventures or associate companies, so all decision-making and economic interest runs through the wholly owned or majority-held chain.
Capital history - the equity base was expanded through a warrant conversion in January 2023 that brought in ten non-promoter strategic investors, and a stock split in March 2025 sub-divided shares from a face value of ₹10 to ₹1 each.

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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Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹108Cr

Close Price

₹14.49

Industry

NBFC Others

Price To Earnings

18.82

Price To Sales

0.52

Revenue

₹206Cr

Rev Gr TTM

Revenue Growth TTM

30.29%

PAT Gr TTM

PAT Growth TTM

-2.26%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	25	26	37	40	36	37	45	40	46	44	56	60
Growth YoY Revenue Growth YoY%	-13.3	9.3	48.0	84.7	44.2	42.7	21.4	0.3	27.9	17.3	24.4	51.3
Expenses ExpensesCr	23	22	37	36	33	33	42	36	42	40	53	56
Operating Profit Operating ProfitCr	2	4	1	3	4	4	3	4	4	3	3	5
OPM OPM%	8.4	14.2	1.5	8.6	9.8	10.7	6.6	9.7	8.0	7.6	5.6	7.8
Other Income Other IncomeCr	0	0	4	0	1	1	0	0	1	1	2	0
Interest Expense Interest ExpenseCr	0	0	1	1	1	1	1	1	1	1	1	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	1	1	1	1
PBT PBTCr	1	3	3	3	3	3	2	3	3	2	3	3
Tax TaxCr	0	0	0	0	0	0	0	0	1	0	1	0
PAT PATCr	1	3	3	2	2	3	2	2	3	2	2	2
Growth YoY PAT Growth YoY%	-38.7	51.4	95.8	55.1	83.2	10.4	-26.9	6.1	27.1	-29.7	13.6	-9.9
NPM NPM%	5.0	10.3	7.6	5.7	6.3	7.9	4.5	6.1	6.3	4.8	4.2	3.6
EPS EPS₹	-0.1	0.2	0.0	0.2	0.2	0.0	0.2	0.2	0.2	0.2	0.2	0.2

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	25	26	37	40	36	37	45	40	46	44	56	60
Growth YoY Revenue Growth YoY%	-13.3	9.3	48.0	84.7	44.2	42.7	21.4	0.3	27.9	17.3	24.4	51.3
Expenses ExpensesCr	23	22	37	36	33	33	42	36	42	40	53	56
Operating Profit Operating ProfitCr	2	4	1	3	4	4	3	4	4	3	3	5
OPM OPM%	8.4	14.2	1.5	8.6	9.8	10.7	6.6	9.7	8.0	7.6	5.6	7.8
Other Income Other IncomeCr	0	0	4	0	1	1	0	0	1	1	2	0
Interest Expense Interest ExpenseCr	0	0	1	1	1	1	1	1	1	1	1	2
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	1	1	1	1
PBT PBTCr	1	3	3	3	3	3	2	3	3	2	3	3
Tax TaxCr	0	0	0	0	0	0	0	0	1	0	1	0
PAT PATCr	1	3	3	2	2	3	2	2	3	2	2	2
Growth YoY PAT Growth YoY%	-38.7	51.4	95.8	55.1	83.2	10.4	-26.9	6.1	27.1	-29.7	13.6	-9.9
NPM NPM%	5.0	10.3	7.6	5.7	6.3	7.9	4.5	6.1	6.3	4.8	4.2	3.6
EPS EPS₹	-0.1	0.2	0.0	0.2	0.2	0.0	0.2	0.2	0.2	0.2	0.2	0.2

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	15	36	60	32	53	70	100	110	158	186	206
Growth Revenue Growth%	-66.1	512.7	146.1	67.4	-47.0	67.1	31.1	43.2	9.6	44.0	17.5	30.3
Expenses ExpensesCr	3	13	34	56	28	47	64	91	102	144	172	192
Operating Profit Operating ProfitCr	0	1	2	4	4	6	6	9	8	14	14	15
OPM OPM%	-8.7	8.5	6.4	6.5	11.1	11.2	9.0	9.3	7.6	8.8	7.5	7.2
Other Income Other IncomeCr	0	0	0	1	1	1	1	2	4	2	4	4
Interest Expense Interest ExpenseCr	0	0	1	1	1	1	1	2	2	3	4	4
Depreciation DepreciationCr	0	0	0	0	0	1	1	1	1	2	2	2
PBT PBTCr	0	1	2	4	3	4	5	8	9	11	12	12
Tax TaxCr	0	0	0	0	0	0	0	1	1	1	2	2
PAT PATCr	0	1	2	4	3	4	5	7	8	10	10	10
Growth PAT Growth%	67.6	312.0	105.5	123.3	-23.3	30.9	30.0	59.7	11.3	16.8	1.6	-2.3
NPM NPM%	-15.3	5.3	4.4	5.9	8.5	6.7	6.6	7.4	7.5	6.1	5.3	4.6
EPS EPS₹	-0.1	0.2	0.2	0.3	0.3	0.4	0.5	0.8	0.1	0.8	0.8	0.8

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	15	36	60	32	53	70	100	110	158	186	206
Growth Revenue Growth%	-66.1	512.7	146.1	67.4	-47.0	67.1	31.1	43.2	9.6	44.0	17.5	30.3
Expenses ExpensesCr	3	13	34	56	28	47	64	91	102	144	172	192
Operating Profit Operating ProfitCr	0	1	2	4	4	6	6	9	8	14	14	15
OPM OPM%	-8.7	8.5	6.4	6.5	11.1	11.2	9.0	9.3	7.6	8.8	7.5	7.2
Other Income Other IncomeCr	0	0	0	1	1	1	1	2	4	2	4	4
Interest Expense Interest ExpenseCr	0	0	1	1	1	1	1	2	2	3	4	4
Depreciation DepreciationCr	0	0	0	0	0	1	1	1	1	2	2	2
PBT PBTCr	0	1	2	4	3	4	5	8	9	11	12	12
Tax TaxCr	0	0	0	0	0	0	0	1	1	1	2	2
PAT PATCr	0	1	2	4	3	4	5	7	8	10	10	10
Growth PAT Growth%	67.6	312.0	105.5	123.3	-23.3	30.9	30.0	59.7	11.3	16.8	1.6	-2.3
NPM NPM%	-15.3	5.3	4.4	5.9	8.5	6.7	6.6	7.4	7.5	6.1	5.3	4.6
EPS EPS₹	-0.1	0.2	0.2	0.3	0.3	0.4	0.5	0.8	0.1	0.8	0.8	0.8

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
Equity Capital Equity CapitalCr	4	6	6	6	6	6	6	7	7	7	7
Reserves ReservesCr	-1	4	6	8	10	11	14	23	31	50	59
Current Liabilities Current LiabilitiesCr	1	4	6	6	11	16	18	31	27	47	77
Non Current Liabilities Non Current LiabilitiesCr	0	2	3	7	7	3	3	1	3	6	7
Total Liabilities Total LiabilitiesCr	3	18	26	32	48	51	58	84	94	148	194
Current Assets Current AssetsCr	3	15	13	8	24	29	38	61	63	118	156
Non Current Assets Non Current AssetsCr	0	3	13	23	25	22	20	23	31	30	39
Total Assets Total AssetsCr	3	18	26	32	48	51	58	84	94	148	194

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	4	6	6	6	6	6	6	7	7	7	7
Reserves ReservesCr	-1	4	6	8	10	11	14	23	31	50	59
Current Liabilities Current LiabilitiesCr	1	4	6	6	11	16	18	31	27	47	77
Non Current Liabilities Non Current LiabilitiesCr	0	2	3	7	7	3	3	1	3	6	7
Total Liabilities Total LiabilitiesCr	3	18	26	32	48	51	58	84	94	148	194
Current Assets Current AssetsCr	3	15	13	8	24	29	38	61	63	118	156
Non Current Assets Non Current AssetsCr	0	3	13	23	25	22	20	23	31	30	39
Total Assets Total AssetsCr	3	18	26	32	48	51	58	84	94	148	194

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	-1	-7	-4	2	-5	3	0	-1	-9	-10	-17
Investing Cash Flow Investing Cash FlowCr	-1	-1	-3	-3	-2	-2	2	-2	0	-6	-4
Financing Cash Flow Financing Cash FlowCr	1	12	4	1	7	-1	-2	4	7	26	12
Net Cash Flow Net Cash FlowCr	-1	4	-3	0	0	0	0	1	-2	10	-9
Free Cash Flow Free Cash FlowCr	-1	-9	-5	2	-12	3	-1	-2	-10	-15	-21
CFO To PAT CFO To PAT%	295.2	-954.5	-243.7	56.8	-180.4	92.1	-6.8	-11.8	-104.7	-104.2	-174.8
CFO To EBITDA CFO To EBITDA%	520.7	-592.0	-167.3	51.7	-138.8	54.9	-5.0	-9.3	-103.6	-71.7	-121.7

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	-1	-7	-4	2	-5	3	0	-1	-9	-10	-17
Investing Cash Flow Investing Cash FlowCr	-1	-1	-3	-3	-2	-2	2	-2	0	-6	-4
Financing Cash Flow Financing Cash FlowCr	1	12	4	1	7	-1	-2	4	7	26	12
Net Cash Flow Net Cash FlowCr	-1	4	-3	0	0	0	0	1	-2	10	-9
Free Cash Flow Free Cash FlowCr	-1	-9	-5	2	-12	3	-1	-2	-10	-15	-21
CFO To PAT CFO To PAT%	295.2	-954.5	-243.7	56.8	-180.4	92.1	-6.8	-11.8	-104.7	-104.2	-174.8
CFO To EBITDA CFO To EBITDA%	520.7	-592.0	-167.3	51.7	-138.8	54.9	-5.0	-9.3	-103.6	-71.7	-121.7

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	10	15	9	8	11	13	18	44	67	158	89	108
Price To Earnings Price To Earnings		20.1	8.9	4.8	6.8	6.4	6.7	9.7	12.8	27.1	15.2	18.8
Price To Sales Price To Sales	4.3	1.1	0.2	0.1	0.3	0.2	0.3	0.4	0.6	1.0	0.5	0.5
Price To Book Price To Book	4.1	1.7	0.8	0.6	0.7	0.8	0.9	1.4	1.7	2.8	1.3	1.6
EV To EBITDA EV To EBITDA	-47.2	12.4	5.7	3.6	5.0	3.4	3.9	5.1	9.7	12.0	8.6	9.4
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	11.9	32.0	36.3	28.9	35.0	38.2	32.1	32.1	32.1
OPM OPM%	-8.7	8.5	6.4	6.5	11.1	11.2	9.0	9.3	7.6	8.8	7.5	7.2
NPM NPM%	-15.3	5.3	4.4	5.9	8.5	6.7	6.6	7.4	7.5	6.1	5.3	4.6
ROCE ROCE%	-6.6	9.5	13.9	23.4	18.1	21.4	23.8	26.2	20.9	17.7	14.8	14.8
ROE ROE%	-14.7	8.3	13.8	26.6	17.9	21.7	23.7	23.9	21.1	16.8	14.7	14.7
ROA ROA%	-11.6	4.4	6.2	11.2	5.6	7.0	7.9	8.8	8.8	6.5	5.0	5.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity 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	10	15	9	8	11	13	18	44	67	158	89	108
Price To Earnings Price To Earnings		20.1	8.9	4.8	6.8	6.4	6.7	9.7	12.8	27.1	15.2	18.8
Price To Sales Price To Sales	4.3	1.1	0.2	0.1	0.3	0.2	0.3	0.4	0.6	1.0	0.5	0.5
Price To Book Price To Book	4.1	1.7	0.8	0.6	0.7	0.8	0.9	1.4	1.7	2.8	1.3	1.6
EV To EBITDA EV To EBITDA	-47.2	12.4	5.7	3.6	5.0	3.4	3.9	5.1	9.7	12.0	8.6	9.4
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	11.9	32.0	36.3	28.9	35.0	38.2	32.1	32.1	32.1
OPM OPM%	-8.7	8.5	6.4	6.5	11.1	11.2	9.0	9.3	7.6	8.8	7.5	7.2
NPM NPM%	-15.3	5.3	4.4	5.9	8.5	6.7	6.6	7.4	7.5	6.1	5.3	4.6
ROCE ROCE%	-6.6	9.5	13.9	23.4	18.1	21.4	23.8	26.2	20.9	17.7	14.8	14.8
ROE ROE%	-14.7	8.3	13.8	26.6	17.9	21.7	23.7	23.9	21.1	16.8	14.7	14.7
ROA ROA%	-11.6	4.4	6.2	11.2	5.6	7.0	7.9	8.8	8.8	6.5	5.0	5.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	VGCL	ABHICAP	RSDFIN	OPTIFIN	VJTFEDU	GARNETINT	TITANSEC
Market CapitalizationMkt CapCr	115	112	109	108	108	103	92
Close PriceClose₹	50.00	161.90	83.97	14.49	61.50	52.55	36.94
IndustryIndustry	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others
Price To EarningsPE	4.20	40.37	6.83	18.82	75.00	32.84	6.49
Price To SalesPS	0.51	25.48	2.87	0.52	58.83	31.46	16.56
RevenueRevenueCr	224	4	38	206	2	3	6
Revenue Growth TTMRev Gr TTM%	-10.2%	-6.2%	-65.3%	30.3%	217.2%	-60.1%	-43.2%
PAT Growth TTMPAT Gr TTM%	399.1%	74.2%	-21.9%	-2.3%	52.0%	52.7%	-19.6%

	VGCL	ABHICAP	RSDFIN	OPTIFIN	VJTFEDU	GARNETINT	TITANSEC
Market CapitalizationMkt CapCr	115	112	109	108	108	103	92
Close PriceClose₹	50.00	161.90	83.97	14.49	61.50	52.55	36.94
IndustryIndustry	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others	NBFC Others
Price To EarningsPE	4.20	40.37	6.83	18.82	75.00	32.84	6.49
Price To SalesPS	0.51	25.48	2.87	0.52	58.83	31.46	16.56
RevenueRevenueCr	224	4	38	206	2	3	6
Revenue Growth TTMRev Gr TTM%	-10.2%	-6.2%	-65.3%	30.3%	217.2%	-60.1%	-43.2%
PAT Growth TTMPAT Gr TTM%	399.1%	74.2%	-21.9%	-2.3%	52.0%	52.7%	-19.6%

FY2026

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FY2026

Jun 26