Sector Alpha Week of 2026-09-17
Not SEBI Registered !! Not Investment advice !!
20-quarter listed-company comparison

Finance & Investments - CV Finance Stocks in India

Finance & Investments - CV Finance: Shriram Finance Ltd owns the largest revenue base; Tsf Investments Ltd has the fastest current growth.

The 5 Finance & Investments - CV Finance companies listed in India are Shriram Finance Ltd (₹2.4 L Cr, the largest), Sundaram Finance Ltd, Mahindra & Mahindra Financial Services Ltd and 2 more. 4 of 5 covered companies beat NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.

All 5 Finance & Investments - CV Finance Stocks in India (Sep 2026) — ranked by 4-Factor score

  1. 1Mahindra & Mahindra Financial Services Ltd₹49.5K Cr74.6/100Favorable setup · strongest on profit growth and ROA
  2. 2Shriram Finance Ltd₹2.4 L Cr64.1/100Mixed-positive evidence · strongest on ROA and relative strength versus sector
  3. 3Sundaram Finance Ltd₹52.3K Cr56.0/100Mixed-positive evidence · strongest on ROA and 13-week relative-strength change
  4. 4Tsf Investments Ltd₹9.7K Cr53.0/100Mixed-positive evidence · strongest on ROA and income growth
  5. 5Indostar Capital Finance Ltd₹4.0K Cr31.0/100Thin evidence · provisional · strongest on relative strength versus the benchmark

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 11 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Finance & Investments - CV Finance Index — Constituents & Performance

All 5 listed Indian Finance & Investments - CV Finance companies are named here, largest first — the same constituent set people search for as the Nifty Finance & Investments - CV Finance index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

  1. Shriram Finance Ltd₹2.4 L Cr
  2. Sundaram Finance Ltd₹52.3K Cr
  3. Mahindra & Mahindra Financial Services Ltd₹49.5K Cr
  4. Tsf Investments Ltd₹9.7K Cr
  5. Indostar Capital Finance Ltd₹4.0K Cr
02 · the sector itself · before any single company

How has Finance & Investments - CV Finance moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 21% ahead of NIFTY 500. Earnings across its companies grew 14% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 12 weeks running.

BREAKING OUT · ahead 12w✓Price and the fundamentals both up4 of 5 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑12w · 4/5 >200d (+1) · 4/5 lead (+1) · EPS 4/5↑

20050020262025202420232022 570303 TRAILING 12-MONTH EPS · 100 AT THE START0100259Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 4 reportingSep 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 4 reportingDec 2022 · trailing 12-month earnings per share at 114, against 100 at the start · no comparable year yet · 4 reportingMar 2023 · trailing 12-month earnings per share at 123, against 100 at the start · up 33.6% on a year ago · 4 reportingJun 2023 · trailing 12-month earnings per share at 137, against 100 at the start · up 27.6% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 127, against 100 at the start · up 25.4% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 135, against 100 at the start · up 19.1% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 121, against 100 at the start · up 16.5% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 126, against 100 at the start · up 12.7% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 132, against 100 at the start · up 10.0% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 135, against 100 at the start · up 27.3% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 17.1% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 254, against 100 at the start · up 26.0% on a year ago · 5 reportingSep 2025 · trailing 12-month earnings per share at 259, against 100 at the start · up 22.6% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 240, against 100 at the start · down 3.0% on a year ago · 5 reportingMar 2026 · trailing 12-month earnings per share at 174, against 100 at the start · up 26.2% on a year ago · 5 reportingJun 2026 · trailing 12-month earnings per share at 188, against 100 at the start · up 9.6% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two188No earnings on file this far back — the price series reaches further than the filings do
20050020262025202420232022 570303 TRAILING 12-MONTH EPS · 100 AT THE START0100259Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 4 reportingSep 2022 · trailing 12-month earnings per share at 105, against 100 at the start · no comparable year yet · 4 reportingDec 2022 · trailing 12-month earnings per share at 114, against 100 at the start · no comparable year yet · 4 reportingMar 2023 · trailing 12-month earnings per share at 123, against 100 at the start · up 33.6% on a year ago · 4 reportingJun 2023 · trailing 12-month earnings per share at 137, against 100 at the start · up 27.6% on a year ago · 4 reportingSep 2023 · trailing 12-month earnings per share at 127, against 100 at the start · up 25.4% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 135, against 100 at the start · up 19.1% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 121, against 100 at the start · up 16.5% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 126, against 100 at the start · up 12.7% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 132, against 100 at the start · up 10.0% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 135, against 100 at the start · up 27.3% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 17.1% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 254, against 100 at the start · up 26.0% on a year ago · 5 reportingSep 2025 · trailing 12-month earnings per share at 259, against 100 at the start · up 22.6% on a year ago · 5 reportingDec 2025 · trailing 12-month earnings per share at 240, against 100 at the start · down 3.0% on a year ago · 5 reportingMar 2026 · trailing 12-month earnings per share at 174, against 100 at the start · up 26.2% on a year ago · 5 reportingJun 2026 · trailing 12-month earnings per share at 188, against 100 at the start · up 9.6% on a year ago · 5 reportingNot reported yet — earnings trail price by a quarter or two188No earnings on file this far back — the price series reaches further than the filings do
Finance & Investments - CV Finance, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 5 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Finance & Investments - CV Finance outperforming NIFTY 500?

Finance & Investments - CV Finance has outperformed NIFTY 500 by 13.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 13.2%. 4 of 5 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Shriram Finance Ltd is the strongest against the sector itself at +4.7%.

+13.2%Sector vs NIFTY 500 · 13 weeks
+13.9%Sector vs NIFTY 500 · 52 weeks
4/5Stocks leading NIFTY 500
2/5Stocks leading sector

Sector metric: 19.2 as of 2026-08-22 · LEADERS · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Finance & Investments - CV Finance has outperformed NIFTY 500 by 13.9% over 52 weeks and 13.2% over 13 weeks. 4 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself. Shriram Finance Ltd leads with income of ₹49,996 crore, based on 5 of 5 comparable companies through Jun 2026.

Companies
5
complete canonical membership
Combined market value
₹3.6 L Cr
Shriram Finance Ltd
Revenue growing
4/5
positive TTM year-on-year growth
Beating NIFTY 500
4/5
positive Mansfield relative strength
Comparing 5 of 5
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Mahindra & Mahindra Financial Services Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 93% evidence confidence.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Mahindra & Mahindra Financial Services LtdM&MFIN 74.6/100Favorable setup93% evidence BREAKING OUT 26.5/35 Income 13.6% · PAT 42.1% 100% evidence 17.6/25 ROA 1.8% · ROE 12.3% · GNPA — 72% evidence 14.1/20 P/BV 1.85× · P/BV÷ROE 0.15 100% evidence 16.4/20 RS sector 1.9% · RS bench 7.3% · 1Y 32.3%11 of 12 weeks ahead 100% evidence
Exact sum: 26.5 + 17.6 + 14.1 + 16.4 = 74.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Shriram Finance LtdSHRIRAMFIN 64.1/100Mixed-positive evidence93% evidence BREAKING OUT 22.6/35 Income 14.2% · PAT 16.6% 100% evidence 20.7/25 ROA 3.1% · ROE 16.4% · GNPA — 72% evidence 6.9/20 P/BV 2.94× · P/BV÷ROE 0.18 100% evidence 13.9/20 RS sector 4.7% · RS bench 10.4% · 1Y 73.3%8 of 12 weeks ahead 100% evidence
Exact sum: 22.6 + 20.7 + 6.9 + 13.9 = 64.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3Sundaram Finance LtdSUNDARMFIN 56.0/100Mixed-positive evidence93% evidence TURNING 18.7/35 Income 13.8% · PAT 15.6% 100% evidence 19.3/25 ROA 2.4% · ROE 15% · GNPA — 72% evidence 7.2/20 P/BV 3.51× · P/BV÷ROE 0.23 100% evidence 10.8/20 RS sector -4.8% · RS bench 0.5% · 1Y 3.8%3 of 12 weeks ahead 100% evidence
Exact sum: 18.7 + 19.3 + 7.2 + 10.8 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Tsf Investments LtdTSFINV 53.0/100Mixed-positive evidence88% evidence TURNING 21.7/35 Income 100% · PAT 8% 86% evidence 15.6/25 ROA 7.9% · ROE 8.2% · GNPA — 72% evidence 8.0/20 P/BV 1.61× · P/BV÷ROE 0.2 100% evidence 7.7/20 RS sector -8.2% · RS bench -2.8% · 1Y -9.9%6 of 12 weeks ahead 100% evidence
Exact sum: 21.7 + 15.6 + 8 + 7.7 = 53 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Indostar Capital Finance LtdINDOSTAR 31.0/100Thin evidence · provisional52% evidence FADING 6.6/35 Income -1.9% · PAT -80% 62% evidence 8.8/25 ROA — · ROE -23.6% · GNPA — 34% evidence 9.2/20 P/BV 1.04× · P/BV÷ROE — 40% evidence 6.4/20 RS sector -25.8% · RS bench 5.7% · 1Y -6.7%8 of 10 weeks ahead 70% evidence
Exact sum: 6.6 + 8.8 + 9.2 + 6.4 = 31 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
05 · what price has already done

Market action

Shriram Finance Ltd has the strongest one-year price move in Finance & Investments - CV Finance at +73.3%. It also leads on Mansfield relative strength against NIFTY at +10.4%. 4 of 5 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Finance & Investments - CV Finance — the story behind the numbers

This is the written read behind the Finance & Investments - CV Finance figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 17 Apr 2026, so the words are older than the numbers. 2 themes are live here.

The sector outlook is highly bullish, anchored entirely by SHRIRAMFIN's balance sheet transformation. The influx of US$4.4 billion de-risks the liability side and provides immense firepower for market share expansion in the new vehicle segment.

The CV Finance sector, represented in this analysis solely by Shriram Finance (SHRIRAMFIN), is undergoing a massive structural transformation. The demand environment is rated as elevated, underpinned by management's explicit target to accelerate growth to the 18%-20% range.

How old this read is: STALE — this read comes from our Finance & Investments - CV Finance sector brief dated 17 Apr 2026, about 5 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Live themeSeverityEvidence on file
The MUFG deal requires RBI and CCI approvals, with a maximum timeline extending to April 2026.Named for SHRIRAMFINmedium“after that we need to apply for RBI approval, a formal approval from RBI and CCI. We expect it to take two to three months.” Management expects approval within two to three months but provides an outer limit of April.
Potential impact of US tariffs on MSME segments dependent on the US market.Named for SHRIRAMFINlow“We have been cautious with MSME segment, especially the post the tariff, US tariff, because some of the segments are dependent on US market.” Management is cautious and watching November/December trends.

Sources: our Finance & Investments - CV Finance sector brief, 17 Apr 2026 · company earnings-call transcripts.

07 · compare level, then change

Income Scale & Growth Durability

Shriram Finance Ltd has the highest Income among the 5 Finance & Investments - CV Finance companies compared here, at ₹49,996 crore. Mahindra & Mahindra Financial Services Ltd is next at ₹21,733 crore. Tsf Investments Ltd has the highest Income growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Shriram Finance Ltd is the scale leader at ₹49,996 crore, 130% ahead of Mahindra & Mahindra Financial Services Ltd. Tsf Investments Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 282.1% from a ₹1,112 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderShriram Finance Ltd · ₹49,996 crore
Gap130% versus #2 · Mahindra & Mahindra Financial Services Ltd
Persistence8/8 recent comparable periods
Coverage5/5 companies · 95 observations

Investor read: Shriram Finance Ltd is the scale benchmark; Tsf Investments Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Shriram Finance Ltd's growth falls below Tsf Investments Ltd's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
1Shriram Finance Ltd SHRIRAMFIN₹50.0K Cr
2Mahindra & Mahindra Financial Services Ltd M&MFIN₹21.7K Cr
3Sundaram Finance Ltd SUNDARMFIN₹10.1K Cr
4Indostar Capital Finance Ltd INDOSTAR₹1.4K Cr
5Tsf Investments Ltd TSFINV₹1.1K Cr
Income growthfastest growers
1Tsf Investments Ltd TSFINV100%
2Shriram Finance Ltd SHRIRAMFIN14%
3Sundaram Finance Ltd SUNDARMFIN14%
4Mahindra & Mahindra Financial Services Ltd M&MFIN14%
5Indostar Capital Finance Ltd INDOSTAR-1.9%
Income · company comparison
5/5 level · 5/5 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyIncomeIncome growthReported
Shriram Finance Ltd SHRIRAMFIN₹13.4K Cr16%Jun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN₹5.7K Cr15%Jun 2026
Sundaram Finance Ltd SUNDARMFIN₹2.6K Cr13%Jun 2026
Indostar Capital Finance Ltd INDOSTAR₹364 Cr5.8%Jun 2026
Tsf Investments Ltd TSFINV₹306 Cr71%Jun 2026
Full 20-quarter history · every available company

Income · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
—
—
—
₹281 Cr
₹285 Cr
₹299 Cr
₹234 Cr
₹238 Cr
₹391 Cr
₹307 Cr
₹352 Cr
₹373 Cr
₹373 Cr
₹344 Cr
₹357 Cr
₹346 Cr
₹347 Cr
₹364 Cr

Mahindra & Mahindra Financial Services Ltd · M&MFIN

₹3.0K Cr
₹3.0K Cr
₹2.9K Cr
₹2.9K Cr
₹3.0K Cr
₹3.3K Cr
₹3.5K Cr
₹3.6K Cr
₹3.8K Cr
₹4.1K Cr
₹4.3K Cr
₹4.3K Cr
₹4.5K Cr
₹4.8K Cr
₹4.9K Cr
₹5.0K Cr
₹5.0K Cr
₹5.5K Cr
₹5.5K Cr
₹5.7K Cr

Shriram Finance Ltd · SHRIRAMFIN

₹4.7K Cr
₹4.8K Cr
₹5.1K Cr
₹5.1K Cr
₹5.4K Cr
₹7.8K Cr
₹8.0K Cr
₹8.0K Cr
₹8.6K Cr
₹8.9K Cr
₹9.5K Cr
₹9.6K Cr
₹10.1K Cr
₹10.7K Cr
₹11.5K Cr
₹11.5K Cr
₹11.9K Cr
₹12.2K Cr
₹12.5K Cr
₹13.4K Cr

Sundaram Finance Ltd · SUNDARMFIN

₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.4K Cr
₹1.5K Cr
₹1.6K Cr
₹1.7K Cr
₹1.8K Cr
₹2.2K Cr
₹2.0K Cr
₹2.1K Cr
₹2.2K Cr
₹2.3K Cr
₹2.3K Cr
₹2.4K Cr
₹2.5K Cr
₹2.6K Cr
₹2.6K Cr

Tsf Investments Ltd · TSFINV

₹14 Cr
₹15 Cr
₹37 Cr
₹19 Cr
₹17 Cr
₹20 Cr
₹35 Cr
₹24 Cr
₹24 Cr
₹25 Cr
₹218 Cr
₹43 Cr
₹30 Cr
₹33 Cr
₹49 Cr
₹179 Cr
₹250 Cr
₹258 Cr
₹298 Cr
₹306 Cr

Income growth · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
—
—
—
—
—
—
—
-15%
37%
2.7%
50%
57%
-4.6%
12%
1.4%
-7.2%
-7.0%
5.8%

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
2.6%
11%
20%
23%
27%
23%
24%
20%
16%
17%
14%
16%
13%
14%
13%
15%

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
11%
14%
61%
57%
55%
60%
14%
19%
20%
18%
20%
21%
20%
18%
14%
9.3%
16%

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
-0.7%
3.2%
9.3%
15%
26%
27%
29%
45%
23%
22%
20%
4.8%
20%
14%
15%
13%
13%

Tsf Investments Ltd · TSFINV

—
—
—
5.6%
21%
33%
-5.4%
26%
41%
25%
523%
79%
25%
32%
-78%
316%
733%
682%
508%
71%
08 · compare level, then change

Profit Scale & Acceleration

Shriram Finance Ltd has the highest Net profit among the 5 Finance & Investments - CV Finance companies compared here, at ₹11,318 crore. Mahindra & Mahindra Financial Services Ltd is next at ₹3,259 crore. Mahindra & Mahindra Financial Services Ltd has the highest Profit growth at 42.1%, so level and change sit with different companies.

What the numbers say: Shriram Finance Ltd leads with ₹11,318 crore of TTM profit, 247.3% above Mahindra & Mahindra Financial Services Ltd. Mahindra & Mahindra Financial Services Ltd shows 42.1% growth from a ₹3,259 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderShriram Finance Ltd · ₹11,318 crore
Gap247.3% versus #2 · Mahindra & Mahindra Financial Services Ltd
Persistence7/8 recent comparable periods
Coverage5/5 companies · 95 observations

Investor read: Shriram Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
1Shriram Finance Ltd SHRIRAMFIN₹11.3K Cr
2Mahindra & Mahindra Financial Services Ltd M&MFIN₹3.3K Cr
3Sundaram Finance Ltd SUNDARMFIN₹2.2K Cr
4Tsf Investments Ltd TSFINV₹497 Cr
5Indostar Capital Finance Ltd INDOSTAR₹-395 Cr
Profit growthfastest growers
1Mahindra & Mahindra Financial Services Ltd M&MFIN42%
2Shriram Finance Ltd SHRIRAMFIN17%
3Sundaram Finance Ltd SUNDARMFIN16%
4Tsf Investments Ltd TSFINV8.0%
5Indostar Capital Finance Ltd INDOSTAR-80%
Net profit · company comparison
5/5 level · 5/5 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Shriram Finance Ltd SHRIRAMFIN₹3.5K Cr60%Jun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN₹927 Cr75%Jun 2026
Sundaram Finance Ltd SUNDARMFIN₹636 Cr34%Jun 2026
Tsf Investments Ltd TSFINV₹125 Cr-21%Jun 2026
Indostar Capital Finance Ltd INDOSTAR₹11 Cr-98%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
—
—
—
₹37 Cr
₹76 Cr
₹39 Cr
₹25 Cr
₹17 Cr
₹35 Cr
₹25 Cr
₹32 Cr
₹28 Cr
₹36 Cr
₹546 Cr
₹10 Cr
₹8 Cr
₹-424 Cr
₹11 Cr

Mahindra & Mahindra Financial Services Ltd · M&MFIN

₹1.1K Cr
₹987 Cr
₹624 Cr
₹239 Cr
₹490 Cr
₹664 Cr
₹675 Cr
₹362 Cr
₹287 Cr
₹623 Cr
₹671 Cr
₹497 Cr
₹390 Cr
₹918 Cr
₹456 Cr
₹529 Cr
₹566 Cr
₹826 Cr
₹940 Cr
₹927 Cr

Shriram Finance Ltd · SHRIRAMFIN

₹774 Cr
₹686 Cr
₹1.1K Cr
₹967 Cr
₹1.1K Cr
₹1.8K Cr
₹1.3K Cr
₹1.7K Cr
₹1.8K Cr
₹1.9K Cr
₹2.0K Cr
₹2.0K Cr
₹2.2K Cr
₹3.2K Cr
₹2.1K Cr
₹2.2K Cr
₹2.3K Cr
₹2.5K Cr
₹3.0K Cr
₹3.5K Cr

Sundaram Finance Ltd · SUNDARMFIN

₹274 Cr
₹315 Cr
₹398 Cr
₹277 Cr
₹332 Cr
₹382 Cr
₹509 Cr
₹429 Cr
₹435 Cr
₹506 Cr
₹472 Cr
₹435 Cr
₹436 Cr
₹455 Cr
₹553 Cr
₹475 Cr
₹488 Cr
₹541 Cr
₹554 Cr
₹636 Cr

Tsf Investments Ltd · TSFINV

₹19 Cr
₹34 Cr
₹78 Cr
₹41 Cr
₹33 Cr
₹65 Cr
₹99 Cr
₹71 Cr
₹91 Cr
₹102 Cr
₹269 Cr
₹110 Cr
₹89 Cr
₹106 Cr
₹107 Cr
₹158 Cr
₹103 Cr
₹105 Cr
₹164 Cr
₹125 Cr

Profit growth · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
—
—
—
—
—
—
—
-54%
-54%
-36%
28%
65%
2.9%
2,084%
-69%
-71%
-1,278%
-98%

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
-55%
-33%
8.2%
51%
-41%
-6.2%
-0.6%
37%
36%
47%
-32%
6.4%
45%
-10%
106%
75%

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
469%
38%
163%
18%
77%
67%
4.0%
57%
19%
20%
73%
6.1%
6.3%
7.5%
-22%
41%
60%

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
-11%
21%
21%
28%
55%
31%
32%
-7.3%
1.4%
0.2%
-10%
17%
9.2%
12%
19%
0.2%
34%

Tsf Investments Ltd · TSFINV

—
—
—
28%
74%
91%
27%
73%
176%
57%
172%
55%
-2.2%
3.9%
-60%
44%
16%
-0.9%
53%
-21%
09 · compare level, then change

Funding Base & Its Composition

Shriram Finance Ltd has the highest Deposits among the 5 Finance & Investments - CV Finance companies compared here, at ₹69,480 crore. Mahindra & Mahindra Financial Services Ltd is next at ₹14,130 crore. The same company also holds the highest Borrowings, at ₹1,82,077 crore. 3 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Shriram Finance Ltd leads both deposits at ₹69,480 crore and borrowings at ₹1,82,077 crore.

LeaderShriram Finance Ltd · ₹69,480 crore
Gap391.7% versus #2 · Mahindra & Mahindra Financial Services Ltd
Persistence8/8 recent comparable periods
Coverage3/5 companies · 30 observations

Investor read: Shriram Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
1Shriram Finance Ltd SHRIRAMFIN₹69.5K Cr
2Mahindra & Mahindra Financial Services Ltd M&MFIN₹14.1K Cr
3Sundaram Finance Ltd SUNDARMFIN₹9.0K Cr
Borrowingslargest borrowings
1Shriram Finance Ltd SHRIRAMFIN₹1.8 L Cr
2Mahindra & Mahindra Financial Services Ltd M&MFIN₹1.1 L Cr
3Sundaram Finance Ltd SUNDARMFIN₹69.6K Cr
4Indostar Capital Finance Ltd INDOSTAR₹5.5K Cr
5Tsf Investments Ltd TSFINV₹235 Cr
Funding base · company comparison
3/5 level · 5/5 change
All-company data · latest reported quarter
CompanyDepositsBorrowingsReported
Shriram Finance Ltd SHRIRAMFIN₹69.5K Cr₹1.8 L CrJun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN₹14.1K Cr₹1.1 L CrJun 2026
Sundaram Finance Ltd SUNDARMFIN₹9.0K Cr₹69.6K CrJun 2026
Tsf Investments Ltd TSFINV—₹235 CrJun 2026
Indostar Capital Finance Ltd INDOSTAR—₹5.5K CrJun 2026
Full 20-quarter history · every available company

Deposits · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

₹9.2K Cr
—
₹8.3K Cr
—
₹6.6K Cr
—
₹5.5K Cr
—
₹5.8K Cr
—
₹7.5K Cr
—
₹8.9K Cr
—
₹11.4K Cr
—
₹13.7K Cr
—
₹14.1K Cr
—

Shriram Finance Ltd · SHRIRAMFIN

₹20.3K Cr
—
₹21.9K Cr
—
₹24.8K Cr
—
₹36.1K Cr
—
₹40.8K Cr
—
₹44.4K Cr
—
₹50.2K Cr
—
₹56.1K Cr
—
₹65.6K Cr
—
₹69.5K Cr
—

Sundaram Finance Ltd · SUNDARMFIN

₹6.2K Cr
—
₹6.3K Cr
—
₹6.3K Cr
—
₹6.9K Cr
—
₹7.4K Cr
—
₹8.1K Cr
—
₹8.4K Cr
—
₹8.7K Cr
—
₹8.8K Cr
—
₹9.0K Cr
—

Borrowings · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
₹6.2K Cr
—
—
—
₹5.6K Cr
—
—
—
₹7.6K Cr
—
—
—
₹6.9K Cr
—
₹5.7K Cr
—
₹5.5K Cr
—

Mahindra & Mahindra Financial Services Ltd · M&MFIN

₹53.5K Cr
₹53.5K Cr
₹62.1K Cr
₹54.3K Cr
₹66.7K Cr
₹66.7K Cr
₹81.4K Cr
₹76.6K Cr
₹84.9K Cr
₹84.9K Cr
₹98.3K Cr
₹92.0K Cr
₹1.0 L Cr
₹1.0 L Cr
₹1.2 L Cr
₹1.1 L Cr
₹1.2 L Cr
₹1.1 L Cr
₹1.3 L Cr
₹1.1 L Cr

Shriram Finance Ltd · SHRIRAMFIN

₹88.6K Cr
₹88.6K Cr
₹1.1 L Cr
₹92.9K Cr
₹1.0 L Cr
₹1.0 L Cr
₹1.6 L Cr
₹1.3 L Cr
₹1.3 L Cr
₹1.3 L Cr
₹2.0 L Cr
₹1.5 L Cr
₹1.6 L Cr
₹1.6 L Cr
₹2.3 L Cr
₹1.8 L Cr
₹2.3 L Cr
₹1.7 L Cr
₹2.5 L Cr
₹1.8 L Cr

Sundaram Finance Ltd · SUNDARMFIN

₹28.7K Cr
₹28.7K Cr
₹36.4K Cr
₹30.2K Cr
₹31.0K Cr
₹31.0K Cr
₹42.7K Cr
₹36.0K Cr
₹41.5K Cr
₹41.5K Cr
₹52.3K Cr
₹44.5K Cr
₹47.8K Cr
₹47.8K Cr
₹61.1K Cr
₹52.6K Cr
₹65.8K Cr
₹57.0K Cr
₹69.6K Cr
—

Tsf Investments Ltd · TSFINV

₹3 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹18 Cr
₹18 Cr
₹19 Cr
₹19 Cr
₹18 Cr
₹18 Cr
₹17 Cr
₹17 Cr
₹16 Cr
₹16 Cr
₹273 Cr
₹273 Cr
₹235 Cr
—
10 · compare level, then change

Return On Assets

Tsf Investments Ltd has the highest ROA among the 5 Finance & Investments - CV Finance companies compared here, at 7.9%. Shriram Finance Ltd is next at 3.1%. The same company also holds the highest ROA change, at +0.8 percentage points. 4 of 5 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Tsf Investments Ltd leads both roa at 7.9% and roa change at +0.8 percentage points.

LeaderTsf Investments Ltd · 7.9%
Gap154.8% versus #2 · Shriram Finance Ltd
Persistence5/7 recent comparable periods
Coverage4/5 companies · 35 observations

Investor read: Tsf Investments Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
1Tsf Investments Ltd TSFINV7.9%
2Shriram Finance Ltd SHRIRAMFIN3.1%
3Sundaram Finance Ltd SUNDARMFIN2.4%
4Mahindra & Mahindra Financial Services Ltd M&MFIN1.8%
ROA changefastest improvers
1Tsf Investments Ltd TSFINV+0.8 pp
2Mahindra & Mahindra Financial Services Ltd M&MFIN+0.2 pp
3Sundaram Finance Ltd SUNDARMFIN−0.1 pp
4Shriram Finance Ltd SHRIRAMFIN−0.2 pp
Return on assets · company comparison
4/5 level · 4/5 change

Withheld from this chart: Indostar Capital Finance Ltd (INDOSTAR) — its two data sources disagree by up to 2,691% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROAROA changeReported
Tsf Investments Ltd TSFINV7.9%+0.8 ppJun 2026
Shriram Finance Ltd SHRIRAMFIN3.1%−0.2 ppJun 2026
Sundaram Finance Ltd SUNDARMFIN2.4%−0.1 ppJun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN1.8%+0.2 ppJun 2026
Full 20-quarter history · every available company

ROA · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
2.5%
—
2.0%
—
1.8%
—
1.6%
—
1.6%
—
1.6%
—
1.7%
—
1.8%
—

Shriram Finance Ltd · SHRIRAMFIN

—
—
1.9%
—
2.5%
—
2.4%
—
3.0%
—
3.0%
—
2.9%
—
3.3%
—
3.3%
—
3.1%
—

Sundaram Finance Ltd · SUNDARMFIN

—
—
2.7%
—
2.7%
—
2.7%
—
2.8%
—
2.9%
—
2.7%
—
2.5%
—
2.4%
—
2.4%
—

Tsf Investments Ltd · TSFINV

—
—
5.3%
—
5.5%
—
6.5%
—
7.9%
—
11%
—
9.7%
—
7.1%
—
7.2%
—
7.9%
—

ROA change · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
—
—
—
—
−0.7 pp
—
−0.4 pp
—
−0.2 pp
—
0.0 pp
—
+0.1 pp
—
+0.2 pp
—

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
—
—
—
+0.5 pp
—
+0.5 pp
—
+0.6 pp
—
−0.1 pp
—
+0.3 pp
—
+0.4 pp
—
−0.2 pp
—

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
—
—
—
0.0 pp
—
+0.1 pp
—
+0.2 pp
—
−0.1 pp
—
−0.4 pp
—
−0.3 pp
—
−0.1 pp
—

Tsf Investments Ltd · TSFINV

—
—
—
—
—
—
+1.2 pp
—
+2.4 pp
—
+4.3 pp
—
+1.8 pp
—
−3.7 pp
—
−2.5 pp
—
+0.8 pp
—
11 · compare level, then change

ROE — Leaders & Improvers

Shriram Finance Ltd has the highest ROE among the 5 Finance & Investments - CV Finance companies compared here, at 16.4%. Sundaram Finance Ltd is next at 15%. Mahindra & Mahindra Financial Services Ltd has the highest ROE change at +5.8 percentage points, so level and change sit with different companies.

What the numbers say: Shriram Finance Ltd leads roe at 16.4%; Mahindra & Mahindra Financial Services Ltd leads roe change at +5.8 percentage points.

LeaderShriram Finance Ltd · 16.4%
Gap9.3% versus #2 · Sundaram Finance Ltd
Persistence5/8 recent comparable periods
Coverage5/5 companies · 76 observations

Investor read: Shriram Finance Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
1Shriram Finance Ltd SHRIRAMFIN16%
2Sundaram Finance Ltd SUNDARMFIN15%
3Mahindra & Mahindra Financial Services Ltd M&MFIN12%
4Tsf Investments Ltd TSFINV8.2%
5Indostar Capital Finance Ltd INDOSTAR-24%
ROE changefastest improvers
1Mahindra & Mahindra Financial Services Ltd M&MFIN+5.8 pp
2Shriram Finance Ltd SHRIRAMFIN+3.5 pp
3Sundaram Finance Ltd SUNDARMFIN−0.3 pp
4Tsf Investments Ltd TSFINV−0.5 pp
5Indostar Capital Finance Ltd INDOSTAR−24.0 pp
Return on equity · company comparison
5/5 level · 5/5 change

Withheld from this chart: Indostar Capital Finance Ltd (INDOSTAR) — its two data sources disagree by up to 2,691% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROEROE changeReported
Shriram Finance Ltd SHRIRAMFIN19%+3.5 ppJun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN15%+5.8 ppJun 2026
Sundaram Finance Ltd SUNDARMFIN14%−0.3 ppJun 2026
Tsf Investments Ltd TSFINV7.0%−0.5 ppJun 2026
Full 20-quarter history · every available company

ROE · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
28%
26%
16%
5.6%
12%
15%
15%
7.7%
6.2%
13%
14%
10%
7.8%
18%
8.8%
9.8%
9.8%
13%
15%

Shriram Finance Ltd · SHRIRAMFIN

—
13%
11%
17%
15%
16%
26%
14%
16%
16%
16%
16%
16%
16%
24%
16%
15%
16%
17%
19%

Sundaram Finance Ltd · SUNDARMFIN

13%
11%
12%
15%
10%
12%
13%
17%
14%
13%
15%
15%
16%
15%
15%
17%
14%
14%
14%
—

Tsf Investments Ltd · TSFINV

5.8%
3.1%
4.8%
11%
5.5%
4.2%
7.8%
12%
7.9%
9.6%
10%
25%
9.2%
6.8%
7.5%
7.6%
9.3%
7.1%
7.0%
—

ROE change · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
—
−16.7 pp
−10.4 pp
−0.5 pp
+2.1 pp
−5.3 pp
−2.0 pp
−1.1 pp
+2.3 pp
+1.6 pp
+4.8 pp
−5.1 pp
−0.2 pp
+2.0 pp
−4.9 pp
+5.8 pp

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
—
—
+2.5 pp
+14.6 pp
−2.9 pp
+0.8 pp
+0.1 pp
−9.6 pp
+1.2 pp
+0.4 pp
+0.2 pp
+8.3 pp
+0.1 pp
−0.7 pp
−0.3 pp
−7.7 pp
+3.5 pp

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
—
−3.1 pp
+0.6 pp
+1.0 pp
+2.2 pp
+3.6 pp
+1.7 pp
+1.9 pp
−1.7 pp
+2.1 pp
+1.5 pp
−0.3 pp
+1.9 pp
−1.3 pp
−1.0 pp
−0.3 pp
—

Tsf Investments Ltd · TSFINV

—
—
—
—
−0.3 pp
+1.1 pp
+3.0 pp
+1.0 pp
+2.4 pp
+5.4 pp
+2.5 pp
+13.1 pp
+1.3 pp
−2.8 pp
−2.8 pp
−17.0 pp
+0.1 pp
+0.3 pp
−0.5 pp
—
12 · compare level, then change

Gross NPA — Leaders & Improvers

No company in this Finance & Investments - CV Finance comparison reports a gross NPA figure this section can compare, so the Gross NPA rank is empty. On GNPA change, Shriram Finance Ltd is lowest at -0.8 percentage points, across 3 of 5 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable gross npa leader.

LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/5 companies · 39 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
Gross NPAlowest
—Not enough comparable data—
GNPA changefastest improvers
1Shriram Finance Ltd SHRIRAMFIN−0.8 pp
2Sundaram Finance Ltd SUNDARMFIN−0.4 pp
3Mahindra & Mahindra Financial Services Ltd M&MFIN−0.1 pp
Asset quality · company comparison
0/5 level · 3/5 change

Withheld from this chart: Indostar Capital Finance Ltd (INDOSTAR) — its two data sources disagree by up to 2,691% on reported income across 13 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyGross NPAGNPA changeReported
Shriram Finance Ltd SHRIRAMFIN4.5%−0.8 ppJun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN3.8%−0.1 ppJun 2026
Sundaram Finance Ltd SUNDARMFIN2.0%−0.4 ppJun 2026
Full 20-quarter history · every available company

Gross NPA · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
—
5.9%
4.5%
4.4%
4.3%
4.0%
3.4%
3.6%
3.8%
3.9%
3.7%
3.8%
3.9%
3.8%
—
—

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
—
—
6.3%
6.2%
6.0%
5.8%
5.7%
5.5%
5.4%
5.3%
5.4%
4.6%
4.5%
4.6%
4.5%
—
—

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
—
—
4.0%
3.0%
3.0%
2.9%
2.6%
2.0%
2.2%
2.4%
2.5%
2.2%
2.7%
2.0%
2.0%
—
—

GNPA change · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
—
—
—
—
—
—
—
—
−2.0 pp
−1.1 pp
−0.8 pp
−0.5 pp
−0.0 pp
+0.3 pp
+0.2 pp
+0.1 pp
−0.1 pp
—
—

Shriram Finance Ltd · SHRIRAMFIN

—
—
—
—
—
—
—
—
—
−0.6 pp
−0.8 pp
−0.6 pp
−0.5 pp
−0.3 pp
−0.9 pp
−0.9 pp
−0.8 pp
−0.8 pp
—
—

Sundaram Finance Ltd · SUNDARMFIN

—
—
—
—
—
—
—
—
—
−1.4 pp
−1.0 pp
−0.8 pp
−0.5 pp
−0.2 pp
+0.2 pp
+0.5 pp
−0.4 pp
−0.4 pp
—
—
13 · compare level, then change

Valuation Against Growth & Quality

Mahindra & Mahindra Financial Services Ltd has the lowest P/BV ÷ ROE among the 5 Finance & Investments - CV Finance companies compared here, at 0.15×. Shriram Finance Ltd is next at 0.18×. Indostar Capital Finance Ltd has the lowest P/BV at 1.04×, so level and change sit with different companies.

What the numbers say: Mahindra & Mahindra Financial Services Ltd has the lowest comparable P/BV ÷ ROE at 0.15×, 16.7% below Shriram Finance Ltd. Only 4 of 5 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderMahindra & Mahindra Financial Services Ltd · 0.15×
Gap16.7% versus #2 · Shriram Finance Ltd
Persistence0/8 recent comparable periods
Coverage4/5 companies · 76 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
1Mahindra & Mahindra Financial Services Ltd M&MFIN0.2
2Shriram Finance Ltd SHRIRAMFIN0.2
3Tsf Investments Ltd TSFINV0.2
4Sundaram Finance Ltd SUNDARMFIN0.2
P/BVlowest P/BV
1Indostar Capital Finance Ltd INDOSTAR1.0
2Tsf Investments Ltd TSFINV1.6
3Mahindra & Mahindra Financial Services Ltd M&MFIN1.9
4Shriram Finance Ltd SHRIRAMFIN2.9
5Sundaram Finance Ltd SUNDARMFIN3.5
Valuation · company comparison
4/5 level · 5/5 change
All-company data · latest reported quarter
CompanyP/BV ÷ ROEP/BVReported
Sundaram Finance Ltd SUNDARMFIN0.23.9Jun 2026
Tsf Investments Ltd TSFINV0.21.6Jun 2026
Shriram Finance Ltd SHRIRAMFIN0.23.0Jun 2026
Mahindra & Mahindra Financial Services Ltd M&MFIN0.12.1Jun 2026
Indostar Capital Finance Ltd INDOSTAR—0.9Jun 2026
Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Mahindra & Mahindra Financial Services Ltd · M&MFIN

—
0.1
0.1
0.1
0.3
0.2
0.1
0.2
0.3
0.3
0.2
0.2
0.2
0.2
0.1
0.2
0.2
0.2
0.1
0.1

Shriram Finance Ltd · SHRIRAMFIN

—
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.2
0.1
0.1
0.2
0.1
0.2
0.2
0.2

Sundaram Finance Ltd · SUNDARMFIN

0.3
0.3
0.2
0.2
0.3
0.2
0.2
0.2
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.2
—

Tsf Investments Ltd · TSFINV

0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.2
0.2
0.3
0.2
0.3
0.2
—

P/BV · reported quarter history

Indostar Capital Finance Ltd · INDOSTAR

—
—
0.9
—
—
0.7
0.5
0.7
0.7
0.7
0.8
1.1
1.3
1.1
1.2
1.4
0.9
0.8
0.7
0.9

Mahindra & Mahindra Financial Services Ltd · M&MFIN

1.6
1.3
1.4
1.5
1.5
1.9
1.9
2.7
2.2
2.0
2.0
2.2
2.3
1.8
1.9
1.8
1.8
2.2
1.7
2.1

Shriram Finance Ltd · SHRIRAMFIN

1.8
1.3
1.2
1.3
1.1
1.3
1.3
1.5
1.6
1.7
1.9
2.5
2.8
2.1
2.4
2.3
2.0
3.0
2.8
3.0

Sundaram Finance Ltd · SUNDARMFIN

3.5
3.1
2.6
2.5
2.7
2.8
2.9
2.9
3.4
3.7
4.3
5.2
5.3
3.9
4.1
5.1
3.8
3.8
3.4
3.9

Tsf Investments Ltd · TSFINV

0.8
0.6
0.6
0.7
0.7
0.6
0.6
0.6
0.7
0.8
1.1
1.2
1.6
1.1
1.2
2.4
2.2
1.8
1.3
1.6
14 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Finance & Investments - CV Finance comparison names 7 specific ways its own evidence can mislead, all listed below. All 5 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. 1 of the 7 ranked sections has fewer than three usable current readings.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Asset quality have fewer than three usable current readings.
15 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 5 Finance & Investments - CV Finance companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-11.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-09-11 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 0 unverified · 1 withheld, of 5 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

16 · questions investors ask, short speakable answers

Finance & Investments - CV Finance company comparison FAQs

These 25 answers restate the Finance & Investments - CV Finance comparison above in question form. Every one is computed from the same 5 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-11. Nothing here is estimated, and none of it is a recommendation.

Is the Finance & Investments - CV Finance sector outperforming NIFTY 500?

Finance & Investments - CV Finance has outperformed NIFTY 500 by 13.9% over 52 weeks and 13.2% over 13 weeks. 4 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself.

Which Finance & Investments - CV Finance company is largest by income?

Shriram Finance Ltd leads with income of ₹49,996 crore, based on 5 of 5 comparable companies through Jun 2026.

Which Finance & Investments - CV Finance company is growing fastest?

Tsf Investments Ltd has the fastest current income growth at 100%, across 5 of 5 comparable companies.

Which Finance & Investments - CV Finance company has the strongest 4-Factor Sector Score?

Mahindra & Mahindra Financial Services Ltd ranks first at 74.6/100 with 93% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Finance & Investments - CV Finance company has the largest deposit base?

Shriram Finance Ltd has the largest reported deposit base at ₹69,480 crore. Bank borrowings are operating funding, not industrial leverage.

Which Finance & Investments - CV Finance company has the lowest comparable P/BV-to-ROE?

Mahindra & Mahindra Financial Services Ltd has the lowest comparable P/BV ÷ ROE at 0.15, among 4 of 5 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Finance & Investments - CV Finance comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Is there a Nifty Finance & Investments - CV Finance index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Finance & Investments - CV Finance, this page builds its own equal-weight basket of 5 listed Finance & Investments - CV Finance companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Finance & Investments - CV Finance stocks in India?

Ranked by this page's four-factor score, Mahindra & Mahindra Financial Services Ltd places first among 5 listed Finance & Investments - CV Finance companies, followed by Shriram Finance Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Finance & Investments - CV Finance stocks are listed in India?

This comparison covers 5 listed Finance & Investments - CV Finance companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Finance & Investments - CV Finance company is the biggest?

Shriram Finance Ltd is the largest, with trailing-twelve-month income of ₹49,996 crore, ahead of Mahindra & Mahindra Financial Services Ltd at ₹21,733 crore. That covers 5 of 5 companies with comparable reporting through Jun 2026.

Which Finance & Investments - CV Finance company makes the most profit?

Shriram Finance Ltd earns the most, at ₹11,318 crore of trailing-twelve-month net profit, from 5 of 5 comparable companies. Mahindra & Mahindra Financial Services Ltd has the fastest profit growth at 42.1%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Finance & Investments - CV Finance company earns the highest return on capital?

Tsf Investments Ltd leads on return on assets at 7.9%, across 4 of 5 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Finance & Investments - CV Finance stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Mahindra & Mahindra Financial Services Ltd screens cheapest at 0.15×. Only 4 of 5 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Finance & Investments - CV Finance lender has the largest funding base?

Shriram Finance Ltd has the largest reported deposit base at ₹69,480 crore. For lenders, deposits and borrowings are operating inputs rather than leverage, so they are read against asset quality and returns instead of as debt.

Is the Finance & Investments - CV Finance sector beating the market?

Finance & Investments - CV Finance has outperformed NIFTY 500 by 13.9% over the last 52 weeks and 13.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 5 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Finance & Investments - CV Finance stock has the strongest price momentum?

Shriram Finance Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Finance & Investments - CV Finance company scores highest for research priority?

Mahindra & Mahindra Financial Services Ltd scores 74.6 out of 100 with 93% evidence confidence, from 26.5 points on growth and earnings, 17.6 on capital efficiency, 14.1 on valuation and 16.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Finance & Investments - CV Finance companies does this comparison cover, and over what period?

It compares 5 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Finance & Investments - CV Finance sector?

The 5 Finance & Investments - CV Finance companies on this page carry ₹3,57,546 crore of combined market value. Shriram Finance Ltd is the largest at ₹2,42,034 crore, about 68% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.

What is the Finance & Investments - CV Finance sector's P/B ratio?

The median price-to-book ratio across the 5 Finance & Investments - CV Finance companies on this page is 1.9×, measured on the 5 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-09-17.

How is the Finance & Investments - CV Finance sector performing?

4 of the 5 covered Finance & Investments - CV Finance companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 13.9% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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