Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Finance & Investments - Microfinance Stocks in India

Finance & Investments - Microfinance: CreditAccess Grameen Ltd owns the largest revenue base; Northern Arc Capital Ltd has the fastest current growth.

01 · the index people search for

Nifty Finance & Investments - Microfinance Index — Constituents & Performance

The Finance & Investments - Microfinance companies below are the listed Indian Finance & Investments - Microfinance universe this page tracks — the same constituent set people search for as the Nifty Finance & Investments - Microfinance index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Finance & Investments - Microfinance 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 14% behind NIFTY 500. Earnings across its companies grew 22% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 14 weeks running.

LEADER · ahead 14w✓Moving with the index7 of 7 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑14w · 7/7 >200d (+0) · 7/7 lead (+0) · EPS 7/7↑

20050020262025202420232022 422333 TRAILING 12-MONTH EPS · 100 AT THE START0100116Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 153.6% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 149.4% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 116, against 100 at the start · up 100.6% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 103, against 100 at the start · up 40.9% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 89, against 100 at the start · down 17.9% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 69, against 100 at the start · down 49.5% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 15, against 100 at the start · down 73.2% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 2, against 100 at the start · down 96.5% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 0, against 100 at the start · down 95.0% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 8, against 100 at the start · down 45.1% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 51, against 100 at the start · up 27.0% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 74, against 100 at the start · up 200.0% on a year ago · 3 reporting · thin coverageNot reported yet — earnings trail price by a quarter or two74No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050020262025202420232022 422333 TRAILING 12-MONTH EPS · 100 AT THE START0100116Jun 24Jun 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 153.6% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 113, against 100 at the start · up 149.4% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 116, against 100 at the start · up 100.6% on a year ago · 6 reportingJun 2024 · trailing 12-month earnings per share at 103, against 100 at the start · up 40.9% on a year ago · 6 reportingSep 2024 · trailing 12-month earnings per share at 89, against 100 at the start · down 17.9% on a year ago · 6 reportingDec 2024 · trailing 12-month earnings per share at 69, against 100 at the start · down 49.5% on a year ago · 6 reportingMar 2025 · trailing 12-month earnings per share at 15, against 100 at the start · down 73.2% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 2, against 100 at the start · down 96.5% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 0, against 100 at the start · down 95.0% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 8, against 100 at the start · down 45.1% on a year ago · 6 reportingMar 2026 · trailing 12-month earnings per share at 51, against 100 at the start · up 27.0% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 74, against 100 at the start · up 200.0% on a year ago · 3 reporting · thin coverageNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Finance & Investments - Microfinance, 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 7 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 - Microfinance outperforming NIFTY 500?

Finance & Investments - Microfinance has outperformed NIFTY 500 by 31% over the last 52 weeks. Over 13 weeks the gap is a lead of 20.7%. 7 of 7 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Satin Creditcare Network Ltd is the strongest against the sector itself at +14.7%.

+20.7%Sector vs NIFTY 500 · 13 weeks
+31.0%Sector vs NIFTY 500 · 52 weeks
7/7Stocks leading NIFTY 500
2/7Stocks leading sector

Sector metric: 28.2 as of 2026-07-19 · CONSOLIDATION · falling.

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 - Microfinance has outperformed NIFTY 500 by 31% over 52 weeks and 20.7% over 13 weeks. 7 of 7 covered companies beat NIFTY on Mansfield relative strength, while 2 of 7 beat the sector itself. CreditAccess Grameen Ltd leads with income of ₹6,378 crore, based on 7 of 7 comparable companies through Jun 2026.

Companies
7
complete canonical membership
Combined market value
₹44.5K Cr
CreditAccess Grameen Ltd
Revenue growing
3/7
positive TTM year-on-year growth
Beating NIFTY 500
7/7
positive Mansfield relative strength
Comparing 5 of 7
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%
Satin Creditcare Network Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82% evidence confidence.
Arman Financial Services Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
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
1Satin Creditcare Network LtdSATIN 85.6/100Sector-leading setup82% evidence LEADER 30.8/35 Income 20.7% · PAT 100% 86% evidence 18.4/25 ROA 2.3% · ROE 12.3% · GNPA — 72% evidence 17.0/20 P/BV 0.93× · P/BV÷ROE 0.08 70% evidence 19.4/20 RS sector 14.7% · RS bench 37.3% · 1Y 59.9%12 of 12 weeks ahead 100% evidence
Exact sum: 30.8 + 18.4 + 17 + 19.4 = 85.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2CreditAccess Grameen LtdCREDITACC 63.4/100Mixed-positive evidence93% evidence BREAKING OUT 29.6/35 Income 11.8% · PAT 100% 100% evidence 18.1/25 ROA 2.4% · ROE 10.5% · GNPA — 72% evidence 4.9/20 P/BV 3.25× · P/BV÷ROE 0.31 100% evidence 10.8/20 RS sector -3.2% · RS bench 17.7% · 1Y 21.8%8 of 12 weeks ahead 100% evidence
Exact sum: 29.6 + 18.1 + 4.9 + 10.8 = 63.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3Northern Arc Capital LtdNORTHARC 57.6/100Mixed-positive evidence64% evidence LEADER 25.2/35 Income 21.1% · PAT 54.4% 62% evidence 14.7/25 ROA — · ROE 11.1% · GNPA — 34% evidence 14.4/20 P/BV 1.19× · P/BV÷ROE 0.11 70% evidence 3.3/20 RS sector -11.6% · RS bench 7.2% · 1Y 13.8%12 of 12 weeks ahead 100% evidence
Exact sum: 25.2 + 14.7 + 14.4 + 3.3 = 57.6 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -11.6% and the one-year return is 13.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4Muthoot Microfin LtdMUTHOOTMF 51.9/100Mixed-positive evidence86% evidence BREAKING OUT 20.1/35 Income -7.5% · PAT 100% 60% evidence 10.6/25 ROA 1.3% · ROE 6.2% · GNPA 3.9% 100% evidence 5.6/20 P/BV 1.47× · P/BV÷ROE 0.24 100% evidence 15.6/20 RS sector 11.2% · RS bench 34.4% · 1Y 46.6%10 of 12 weeks ahead 100% evidence
Exact sum: 20.1 + 10.6 + 5.6 + 15.6 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Arman Financial Services LtdARMANFIN 43.6/100Mixed-negative evidence93% evidence LEADER 10.7/35 Income -11.4% · PAT 7.7% 83% evidence 14.1/25 ROA 2% · ROE 6.3% · GNPA 3.4% 95% evidence 3.7/20 P/BV 2.19× · P/BV÷ROE 0.35 100% evidence 15.1/20 RS sector -0.9% · RS bench 20.3% · 1Y 16.7%11 of 12 weeks ahead 100% evidence
Exact sum: 10.7 + 14.1 + 3.7 + 15.1 = 43.6 · Decision use: Price leads the evidence: RS versus the benchmark is 20.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6Spandana Sphoorty Financial LtdSPANDANA 36.2/100Thin evidence · provisional53% evidence BREAKING OUT 15.2/35 Income -48.3% · PAT 77.5% 46% evidence 8.4/25 ROA — · ROE -29.4% · GNPA — 34% evidence 9.2/20 P/BV 1.09× · P/BV÷ROE — 40% evidence 3.4/20 RS sector -15.9% · RS bench 2.3% · 1Y -4.6%7 of 12 weeks ahead 100% evidence
Exact sum: 15.2 + 8.4 + 9.2 + 3.4 = 36.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Fusion Finance LtdFUSION 32.6/100Adverse evidence78% evidence BREAKING OUT 17.4/35 Income -27.8% · PAT 100% 40% evidence 6.6/25 ROA 0.2% · ROE 0.7% · GNPA 3.2% 95% evidence 3.2/20 P/BV 1.37× · P/BV÷ROE 2.02 100% evidence 5.4/20 RS sector -5.9% · RS bench 14% · 1Y 22.2%7 of 12 weeks ahead 100% evidence
Exact sum: 17.4 + 6.6 + 3.2 + 5.4 = 32.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Satin Creditcare Network Ltd has the strongest one-year price move in Finance & Investments - Microfinance at +59.9%. It also leads on Mansfield relative strength against NIFTY at +37.3%. 7 of 7 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

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 · compare level, then change

Income Scale & Growth Durability

CreditAccess Grameen Ltd has the highest Income among the 7 Finance & Investments - Microfinance companies compared here, at ₹6,378 crore. Satin Creditcare Network Ltd is next at ₹3,210 crore. Northern Arc Capital Ltd has the highest Income growth at 21.1%, so level and change sit with different companies. Its Income series carries 20 reported observations across the 20-quarter window.

What the numbers say: CreditAccess Grameen Ltd is the scale leader at ₹6,378 crore, 98.7% ahead of Satin Creditcare Network Ltd. Northern Arc Capital Ltd's growth is 21.1% from a ₹2,870 crore base, with 13 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCreditAccess Grameen Ltd · ₹6,378 crore
Gap98.7% versus #2 · Satin Creditcare Network Ltd
Persistence6/8 recent comparable periods
Coverage7/7 companies · 115 observations

Investor read: CreditAccess Grameen Ltd is the scale benchmark; Northern Arc Capital Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: CreditAccess Grameen Ltd's growth falls below Northern Arc Capital 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
1CreditAccess Grameen Ltd CREDITACC₹6.4K Cr
2Satin Creditcare Network Ltd SATIN₹3.2K Cr
3Northern Arc Capital Ltd NORTHARC₹2.9K Cr
4Muthoot Microfin Ltd MUTHOOTMF₹2.4K Cr
5Fusion Finance Ltd FUSION₹1.7K Cr
Income growthfastest growers
1Northern Arc Capital Ltd NORTHARC21%
2Satin Creditcare Network Ltd SATIN21%
3CreditAccess Grameen Ltd CREDITACC12%
4Muthoot Microfin Ltd MUTHOOTMF-7.5%
5Arman Financial Services Ltd ARMANFIN⚠ unverified-11%
Income · company comparison
7/7 level · 7/7 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
CreditAccess Grameen Ltd CREDITACC₹1.8K Cr22%Jun 2026
Northern Arc Capital Ltd NORTHARC₹780 Cr29%Jun 2026
Satin Creditcare Network Ltd SATIN₹762 Cr8.4%Jun 2026
Muthoot Microfin Ltd MUTHOOTMF₹632 Cr14%Mar 2026
Fusion Finance Ltd FUSION₹424 Cr-9.0%Mar 2026
Spandana Sphoorty Financial Ltd SPANDANA₹284 Cr-5.3%Jun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified₹176 Cr-12%Mar 2026
Full 20-quarter history · every available company

Income · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
₹103 Cr
₹149 Cr
₹150 Cr
₹160 Cr
₹169 Cr
₹183 Cr
₹184 Cr
₹181 Cr
₹165 Cr
₹199 Cr
₹151 Cr
₹159 Cr
₹160 Cr
₹176 Cr
—

CreditAccess Grameen Ltd · CREDITACC

₹619 Cr
₹690 Cr
₹824 Cr
₹761 Cr
₹814 Cr
₹908 Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.4K Cr
₹1.4K Cr
₹1.5K Cr
₹1.5K Cr
₹1.5K Cr
₹1.6K Cr
₹1.8K Cr

Fusion Finance Ltd · FUSION

—
—
—
—
—
₹459 Cr
₹501 Cr
₹531 Cr
₹547 Cr
₹593 Cr
₹646 Cr
₹688 Cr
₹692 Cr
₹474 Cr
₹466 Cr
₹434 Cr
₹401 Cr
₹416 Cr
₹424 Cr
—

Muthoot Microfin Ltd · MUTHOOTMF

₹197 Cr
₹215 Cr
₹259 Cr
₹275 Cr
₹334 Cr
₹380 Cr
₹444 Cr
₹479 Cr
₹564 Cr
₹577 Cr
₹643 Cr
₹663 Cr
₹662 Cr
₹681 Cr
₹555 Cr
₹559 Cr
₹576 Cr
₹603 Cr
₹632 Cr
—

Northern Arc Capital Ltd · NORTHARC

—
—
—
—
—
—
—
₹401 Cr
₹437 Cr
₹492 Cr
₹564 Cr
₹578 Cr
₹585 Cr
₹576 Cr
₹603 Cr
₹605 Cr
₹627 Cr
₹721 Cr
₹742 Cr
₹780 Cr

Satin Creditcare Network Ltd · SATIN

₹326 Cr
₹348 Cr
₹364 Cr
₹345 Cr
₹361 Cr
₹416 Cr
₹429 Cr
₹462 Cr
₹538 Cr
₹596 Cr
₹642 Cr
₹633 Cr
₹657 Cr
₹684 Cr
₹615 Cr
₹703 Cr
₹788 Cr
₹740 Cr
₹920 Cr
₹762 Cr

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
₹355 Cr
₹498 Cr
₹512 Cr
₹610 Cr
₹626 Cr
₹676 Cr
₹710 Cr
₹682 Cr
₹552 Cr
₹415 Cr
₹300 Cr
₹230 Cr
₹234 Cr
₹260 Cr
₹284 Cr

Income growth · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
—
—
—
64%
23%
23%
13%
-2.4%
8.7%
-18%
-12%
-3.0%
-12%
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
23%
32%
32%
29%
54%
53%
42%
37%
29%
17%
6.8%
-3.4%
-3.2%
3.8%
8.0%
14%
22%

Fusion Finance Ltd · FUSION

—
—
—
—
—
—
—
—
—
29%
29%
30%
27%
-20%
-28%
-37%
-42%
-12%
-9.0%
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
59%
70%
77%
71%
74%
69%
52%
45%
38%
17%
18%
-14%
-16%
-13%
-11%
14%
—

Northern Arc Capital Ltd · NORTHARC

—
—
—
—
—
—
—
—
—
—
—
44%
34%
17%
6.9%
4.7%
7.2%
25%
23%
29%

Satin Creditcare Network Ltd · SATIN

—
—
—
-0.6%
11%
20%
18%
34%
49%
43%
50%
37%
22%
15%
-4.2%
11%
20%
8.2%
50%
8.4%

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
—
—
—
—
76%
36%
39%
12%
-12%
-39%
-58%
-66%
-58%
-37%
-5.3%
07 · compare level, then change

Profit Scale & Acceleration

CreditAccess Grameen Ltd has the highest Net profit among the 7 Finance & Investments - Microfinance companies compared here, at ₹1,211 crore. Northern Arc Capital Ltd is next at ₹440 crore. The same company also holds the highest Profit growth, at the 100% top of the scoring scale. Its Net profit series carries 20 reported observations across the 20-quarter window.

What the numbers say: CreditAccess Grameen Ltd leads with ₹1,211 crore of TTM profit, 175.2% above Northern Arc Capital Ltd. CreditAccess Grameen Ltd shows ≥100% on the scoring scale (527.5% uncapped) growth from a ₹1,211 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderCreditAccess Grameen Ltd · ₹1,211 crore
Gap175.2% versus #2 · Northern Arc Capital Ltd
Persistence3/8 recent comparable periods
Coverage7/7 companies · 115 observations

Investor read: CreditAccess Grameen 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
1CreditAccess Grameen Ltd CREDITACC₹1.2K Cr
2Northern Arc Capital Ltd NORTHARC₹440 Cr
3Satin Creditcare Network Ltd SATIN₹410 Cr
4Muthoot Microfin Ltd MUTHOOTMF₹170 Cr
5Arman Financial Services Ltd ARMANFIN⚠ unverified₹56 Cr
Profit growthfastest growers
1CreditAccess Grameen Ltd CREDITACC100%
2Satin Creditcare Network Ltd SATIN100%
3Northern Arc Capital Ltd NORTHARC54%
4Arman Financial Services Ltd ARMANFIN⚠ unverified7.7%
Net profit · company comparison
7/7 level · 4/7 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
CreditAccess Grameen Ltd CREDITACC₹493 Cr722%Jun 2026
Satin Creditcare Network Ltd SATIN₹123 Cr173%Jun 2026
Northern Arc Capital Ltd NORTHARC₹114 Cr46%Jun 2026
Fusion Finance Ltd FUSION₹114 Cr-224%Mar 2026
Muthoot Microfin Ltd MUTHOOTMF₹71 Cr1,450%Mar 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified₹41 Cr215%Mar 2026
Spandana Sphoorty Financial Ltd SPANDANA₹12 Cr-743%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
₹22 Cr
₹36 Cr
₹40 Cr
₹41 Cr
₹42 Cr
₹51 Cr
₹31 Cr
₹15 Cr
₹-7 Cr
₹13 Cr
₹-15 Cr
₹8 Cr
₹22 Cr
₹41 Cr
—

CreditAccess Grameen Ltd · CREDITACC

₹64 Cr
₹120 Cr
₹147 Cr
₹138 Cr
₹172 Cr
₹217 Cr
₹297 Cr
₹348 Cr
₹347 Cr
₹353 Cr
₹397 Cr
₹398 Cr
₹186 Cr
₹-100 Cr
₹47 Cr
₹60 Cr
₹126 Cr
₹252 Cr
₹340 Cr
₹493 Cr

Fusion Finance Ltd · FUSION

—
—
—
—
—
₹102 Cr
₹115 Cr
₹120 Cr
₹126 Cr
₹126 Cr
₹133 Cr
₹-36 Cr
₹-305 Cr
₹-719 Cr
₹-165 Cr
₹-92 Cr
₹-22 Cr
₹14 Cr
₹114 Cr
—

Muthoot Microfin Ltd · MUTHOOTMF

₹19 Cr
₹2 Cr
₹38 Cr
₹8 Cr
₹5 Cr
₹57 Cr
₹95 Cr
₹96 Cr
₹110 Cr
₹125 Cr
₹120 Cr
₹113 Cr
₹62 Cr
₹4 Cr
₹-401 Cr
₹6 Cr
₹31 Cr
₹62 Cr
₹71 Cr
—

Northern Arc Capital Ltd · NORTHARC

—
—
—
—
—
—
—
₹91 Cr
₹79 Cr
₹82 Cr
₹86 Cr
₹94 Cr
₹96 Cr
₹73 Cr
₹38 Cr
₹78 Cr
₹91 Cr
₹102 Cr
₹133 Cr
₹114 Cr

Satin Creditcare Network Ltd · SATIN

₹11 Cr
₹34 Cr
₹57 Cr
₹-210 Cr
₹57 Cr
₹59 Cr
₹99 Cr
₹88 Cr
₹107 Cr
₹113 Cr
₹128 Cr
₹105 Cr
₹45 Cr
₹14 Cr
₹22 Cr
₹45 Cr
₹53 Cr
₹72 Cr
₹162 Cr
₹123 Cr

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
₹71 Cr
₹106 Cr
₹119 Cr
₹125 Cr
₹127 Cr
₹129 Cr
₹56 Cr
₹-216 Cr
₹-440 Cr
₹-434 Cr
₹-360 Cr
₹-249 Cr
₹-95 Cr
₹5 Cr
₹12 Cr

Profit growth · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
—
—
—
91%
42%
-23%
-63%
-117%
-75%
-148%
-47%
—
215%
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
527%
169%
81%
102%
152%
102%
63%
34%
14%
-46%
-128%
-88%
-85%
-32%
—
623%
722%

Fusion Finance Ltd · FUSION

—
—
—
—
—
—
—
—
—
24%
16%
-130%
-342%
-671%
-224%
—
—
—
—
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
-74%
2,750%
150%
1,100%
2,100%
119%
26%
18%
-44%
-97%
-434%
-95%
-50%
1,450%
—
—

Northern Arc Capital Ltd · NORTHARC

—
—
—
—
—
—
—
—
—
—
—
3.3%
22%
-11%
-56%
-17%
-5.2%
40%
250%
46%

Satin Creditcare Network Ltd · SATIN

—
—
—
—
418%
74%
74%
—
88%
92%
29%
19%
-58%
-88%
-83%
-57%
18%
414%
636%
173%

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
—
—
—
—
79%
22%
-53%
-273%
-446%
-436%
-743%
—
—
—
—
08 · compare level, then change

Funding Base & Its Composition

No company in this Finance & Investments - Microfinance comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, CreditAccess Grameen Ltd is highest at ₹23,641 crore, across 7 of 7 companies with a usable reading.

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

LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/7 companies · 0 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 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
—Not enough comparable data—
Borrowingslargest borrowings
1CreditAccess Grameen Ltd CREDITACC₹23.6K Cr
2Northern Arc Capital Ltd NORTHARC₹12.3K Cr
3Satin Creditcare Network Ltd SATIN₹11.0K Cr
4Muthoot Microfin Ltd MUTHOOTMF₹9.7K Cr
5Fusion Finance Ltd FUSION₹5.6K Cr
Funding base · company comparison
0/7 level · 7/7 change
All-company data · latest reported quarter
CompanyDepositsBorrowingsReported
CreditAccess Grameen Ltd CREDITACC—₹23.6K CrJun 2026
Northern Arc Capital Ltd NORTHARC—₹12.3K CrJun 2026
Muthoot Microfin Ltd MUTHOOTMF—₹9.7K CrMar 2026
Fusion Finance Ltd FUSION—₹5.6K CrMar 2026
Satin Creditcare Network Ltd SATIN—₹11.0K CrJun 2026
Spandana Sphoorty Financial Ltd SPANDANA—₹3.9K CrJun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified—₹1.8K CrMar 2026
Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

₹798 Cr
₹798 Cr
₹990 Cr
₹990 Cr
₹1.4K Cr
₹1.4K Cr
₹1.6K Cr
₹1.6K Cr
₹1.9K Cr
₹1.9K Cr
₹1.7K Cr
₹1.7K Cr
₹1.4K Cr
₹1.4K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.8K Cr
—

CreditAccess Grameen Ltd · CREDITACC

₹10.1K Cr
₹10.1K Cr
₹12.9K Cr
₹13.0K Cr
₹12.4K Cr
₹13.7K Cr
₹16.3K Cr
₹16.4K Cr
₹17.8K Cr
₹17.8K Cr
₹21.8K Cr
₹21.9K Cr
₹19.3K Cr
—
₹20.4K Cr
₹20.6K Cr
₹20.1K Cr
₹20.1K Cr
₹23.6K Cr
—

Fusion Finance Ltd · FUSION

—
—
₹5.8K Cr
—
—
—
₹6.8K Cr
—
—
—
₹8.6K Cr
—
—
—
₹6.4K Cr
—
₹4.9K Cr
—
₹5.6K Cr
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
₹4.1K Cr
₹4.1K Cr
₹5.3K Cr
₹5.3K Cr
₹6.6K Cr
₹6.7K Cr
₹8.0K Cr
₹8.0K Cr
₹8.6K Cr
₹8.6K Cr
₹8.6K Cr
₹8.6K Cr
₹8.1K Cr
₹8.1K Cr
₹8.7K Cr
₹8.7K Cr
₹9.7K Cr
—

Northern Arc Capital Ltd · NORTHARC

—
—
₹6.1K Cr
—
—
—
₹7.1K Cr
—
—
—
₹9.1K Cr
—
—
—
₹9.9K Cr
—
₹10.3K Cr
—
₹12.3K Cr
—

Satin Creditcare Network Ltd · SATIN

₹5.9K Cr
₹5.9K Cr
₹5.7K Cr
₹5.7K Cr
₹5.5K Cr
₹5.5K Cr
₹5.9K Cr
₹5.9K Cr
₹7.3K Cr
₹7.3K Cr
₹7.9K Cr
₹7.9K Cr
₹8.4K Cr
₹8.4K Cr
₹8.8K Cr
₹8.8K Cr
₹9.6K Cr
₹9.6K Cr
₹11.0K Cr
—

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
₹3.8K Cr
—
—
—
₹6.1K Cr
—
—
—
₹9.4K Cr
—
—
—
₹5.7K Cr
—
₹3.3K Cr
—
₹3.9K Cr
—
09 · compare level, then change

Return On Assets

CreditAccess Grameen Ltd has the highest ROA among the 7 Finance & Investments - Microfinance companies compared here, at 2.4%. Satin Creditcare Network Ltd is next at 2.3%. Muthoot Microfin Ltd has the highest ROA change at +3.3 percentage points, so level and change sit with different companies. Its ROA series carries 11 reported observations across the 20-quarter window.

What the numbers say: CreditAccess Grameen Ltd leads roa at 2.4%; Muthoot Microfin Ltd leads roa change at +3.3 percentage points.

LeaderCreditAccess Grameen Ltd · 2.4%
Gap4.3% versus #2 · Satin Creditcare Network Ltd
Persistence4/7 recent comparable periods
Coverage5/7 companies · 35 observations

Investor read: CreditAccess Grameen 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
1CreditAccess Grameen Ltd CREDITACC2.4%
2Satin Creditcare Network Ltd SATIN2.3%
3Arman Financial Services Ltd ARMANFIN⚠ unverified2.0%
4Muthoot Microfin Ltd MUTHOOTMF1.3%
5Fusion Finance Ltd FUSION0.2%
ROA changefastest improvers
1Muthoot Microfin Ltd MUTHOOTMF+3.3 pp
2Satin Creditcare Network Ltd SATIN+0.7 pp
3CreditAccess Grameen Ltd CREDITACC+0.5 pp
4Arman Financial Services Ltd ARMANFIN⚠ unverified−0.3 pp
Return on assets · company comparison
5/7 level · 4/7 change

Withheld from this chart: Northern Arc Capital Ltd (NORTHARC) — its two data sources disagree by up to 20% on reported income across 12 comparable periods, so its derived ratios are withheld; Fusion Finance Ltd (FUSION) — its two data sources disagree by up to 4.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Spandana Sphoorty Financial Ltd (SPANDANA) — its two data sources disagree by up to 6.9% on reported income across 14 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
CreditAccess Grameen Ltd CREDITACC2.4%+0.5 ppJun 2026
Satin Creditcare Network Ltd SATIN2.3%+0.7 ppJun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified2.0%−0.3 ppMar 2026
Muthoot Microfin Ltd MUTHOOTMF1.3%+3.3 ppMar 2026
Full 20-quarter history · every available company

ROA · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
—
—
5.7%
—
6.6%
—
5.8%
—
2.3%
—
0.0%
—
2.0%
—

CreditAccess Grameen Ltd · CREDITACC

—
—
2.0%
—
3.4%
3.6%
4.8%
5.8%
5.0%
—
5.0%
—
5.0%
—
1.9%
—
0.5%
—
2.4%
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
0.9%
—
0.8%
—
1.9%
—
3.6%
—
3.9%
—
3.6%
—
-2.0%
—
-3.1%
—
1.3%
—

Satin Creditcare Network Ltd · SATIN

—
—
0.3%
—
-0.8%
—
0.1%
—
3.8%
—
4.2%
—
3.5%
—
1.6%
—
1.0%
—
2.3%
—

ROA change · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
+0.1 pp
—
−4.3 pp
—
−5.8 pp
—
−0.3 pp
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
—
—
—
+2.8 pp
—
+1.6 pp
—
+0.2 pp
—
0.0 pp
—
−3.1 pp
—
−4.5 pp
—
+0.5 pp
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
—
—
+1.0 pp
—
+2.8 pp
—
+2.0 pp
—
0.0 pp
—
−5.9 pp
—
−6.7 pp
—
+3.3 pp
—

Satin Creditcare Network Ltd · SATIN

—
—
—
—
—
—
−0.2 pp
—
+4.6 pp
—
+4.1 pp
—
−0.3 pp
—
−2.6 pp
—
−2.5 pp
—
+0.7 pp
—
10 · compare level, then change

ROE — Leaders & Improvers

Satin Creditcare Network Ltd has the highest ROE among the 7 Finance & Investments - Microfinance companies compared here, at 12.3%. Northern Arc Capital Ltd is next at 11.1%. Fusion Finance Ltd has the highest ROE change at +56 percentage points, so level and change sit with different companies. Its ROE series carries 19 reported observations across the 20-quarter window.

What the numbers say: Satin Creditcare Network Ltd leads roe at 12.3%; Fusion Finance Ltd leads roe change at +56 percentage points.

LeaderSatin Creditcare Network Ltd · 12.3%
Gap10.8% versus #2 · Northern Arc Capital Ltd
Persistence2/8 recent comparable periods
Coverage7/7 companies · 75 observations

Investor read: Satin Creditcare Network 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
1Satin Creditcare Network Ltd SATIN12%
2Northern Arc Capital Ltd NORTHARC11%
3CreditAccess Grameen Ltd CREDITACC11%
4Arman Financial Services Ltd ARMANFIN⚠ unverified6.3%
5Muthoot Microfin Ltd MUTHOOTMF6.2%
ROE changefastest improvers
1Fusion Finance Ltd FUSION+56.0 pp
2Arman Financial Services Ltd ARMANFIN⚠ unverified+13.6 pp
3Satin Creditcare Network Ltd SATIN+8.8 pp
4Muthoot Microfin Ltd MUTHOOTMF+8.7 pp
5CreditAccess Grameen Ltd CREDITACC+6.5 pp
Return on equity · company comparison
7/7 level · 7/7 change

Withheld from this chart: Northern Arc Capital Ltd (NORTHARC) — its two data sources disagree by up to 20% on reported income across 12 comparable periods, so its derived ratios are withheld; Fusion Finance Ltd (FUSION) — its two data sources disagree by up to 4.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Spandana Sphoorty Financial Ltd (SPANDANA) — its two data sources disagree by up to 6.9% on reported income across 14 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
CreditAccess Grameen Ltd CREDITACC14%+6.5 ppJun 2026
Satin Creditcare Network Ltd SATIN11%+8.8 ppJun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified10%+13.6 ppMar 2026
Muthoot Microfin Ltd MUTHOOTMF9.2%+8.7 ppMar 2026
Full 20-quarter history · every available company

ROE · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

7.7%
10%
15%
32%
30%
30%
28%
43%
44%
39%
36%
32%
15%
7.3%
-3.4%
5.9%
-6.7%
3.7%
10%
—

CreditAccess Grameen Ltd · CREDITACC

2.1%
6.2%
12%
16%
14%
16%
19%
24%
27%
26%
24%
26%
24%
11%
7.6%
2.8%
3.5%
7.1%
14%
—

Muthoot Microfin Ltd · MUTHOOTMF

-5.0%
—
3.6%
5.0%
2.4%
1.3%
16%
25%
24%
25%
27%
21%
16%
8.5%
0.5%
-57%
0.9%
4.6%
9.2%
—

Satin Creditcare Network Ltd · SATIN

-22%
3.0%
9.6%
15%
-53%
15%
16%
26%
22%
24%
24%
24%
18%
7.2%
2.2%
3.4%
7.1%
8.2%
11%
—

ROE change · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
+21.9 pp
+20.2 pp
+13.7 pp
+10.8 pp
+14.1 pp
+8.7 pp
+7.6 pp
−11.1 pp
−28.3 pp
−31.8 pp
−39.2 pp
−25.8 pp
−22.1 pp
−3.6 pp
+13.6 pp
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
—
+11.6 pp
+10.2 pp
+6.7 pp
+8.4 pp
+13.6 pp
+9.1 pp
+5.6 pp
+1.8 pp
−3.1 pp
−14.5 pp
−16.8 pp
−22.9 pp
−20.7 pp
−3.9 pp
+6.5 pp
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
+7.4 pp
—
+12.1 pp
+19.6 pp
+21.1 pp
+24.0 pp
+11.3 pp
−4.0 pp
−7.3 pp
−16.8 pp
−26.5 pp
−77.6 pp
−15.3 pp
−3.9 pp
+8.7 pp
—

Satin Creditcare Network Ltd · SATIN

—
—
—
—
−31.3 pp
+12.1 pp
+6.5 pp
+10.3 pp
+74.6 pp
+9.1 pp
+7.7 pp
−1.8 pp
−4.1 pp
−17.0 pp
−21.6 pp
−20.4 pp
−10.4 pp
+1.0 pp
+8.8 pp
—
11 · compare level, then change

Gross NPA — Leaders & Improvers

Fusion Finance Ltd has the lowest Gross NPA among the 7 Finance & Investments - Microfinance companies compared here, at 3.2%. Arman Financial Services Ltd is next at 3.4%. The same company also holds the lowest GNPA change, at -4.7 percentage points. 3 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Fusion Finance Ltd leads both gross npa at 3.2% and gnpa change at -4.7 percentage points.

LeaderFusion Finance Ltd · 3.2%
Gap6.4% versus #2 · Arman Financial Services Ltd
Persistence4/8 recent comparable periods
Coverage3/7 companies · 62 observations

Investor read: Fusion 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 gnpa change signal.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
Gross NPAlowest
1Fusion Finance Ltd FUSION3.2%
2Arman Financial Services Ltd ARMANFIN⚠ unverified3.4%
3Muthoot Microfin Ltd MUTHOOTMF3.9%
GNPA changefastest improvers
1Fusion Finance Ltd FUSION−4.7 pp
2Spandana Sphoorty Financial Ltd SPANDANA−1.8 pp
3CreditAccess Grameen Ltd CREDITACC−1.6 pp
4Muthoot Microfin Ltd MUTHOOTMF−1.0 pp
5Arman Financial Services Ltd ARMANFIN⚠ unverified+0.1 pp
Asset quality · company comparison
3/7 level · 5/7 change

Withheld from this chart: Northern Arc Capital Ltd (NORTHARC) — its two data sources disagree by up to 20% on reported income across 12 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
Muthoot Microfin Ltd MUTHOOTMF3.9%−1.0 ppMar 2026
Spandana Sphoorty Financial Ltd SPANDANA3.8%−1.8 ppJun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified3.4%+0.1 ppMar 2026
Fusion Finance Ltd FUSION3.2%−4.7 ppMar 2026
CreditAccess Grameen Ltd CREDITACC3.2%−1.6 ppJun 2026
Full 20-quarter history · every available company

Gross NPA · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
2.8%
2.5%
2.5%
2.8%
2.9%
2.7%
3.7%
4.1%
3.4%
3.5%
3.7%
3.5%
3.4%
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
—
—
1.7%
1.2%
0.9%
0.8%
1.0%
1.2%
1.5%
2.4%
4.0%
4.8%
4.7%
3.7%
4.0%
3.2%
—

Fusion Finance Ltd · FUSION

—
—
—
—
—
3.7%
3.5%
3.2%
2.7%
3.0%
2.9%
5.5%
9.4%
13%
7.9%
5.4%
4.6%
4.4%
3.2%
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
—
—
—
2.8%
—
—
—
—
—
3.0%
4.8%
4.9%
4.6%
4.4%
3.9%
—

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
5.3%
2.1%
1.6%
1.4%
1.6%
1.5%
2.6%
4.9%
4.9%
5.6%
5.5%
5.6%
4.2%
3.8%
—

GNPA change · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

—
—
—
—
—
—
—
—
—
—
+0.1 pp
+0.2 pp
+1.3 pp
+1.3 pp
+0.5 pp
+0.8 pp
−0.0 pp
−0.7 pp
+0.1 pp
—

CreditAccess Grameen Ltd · CREDITACC

—
—
—
—
—
—
—
—
—
−0.7 pp
−0.0 pp
+0.6 pp
+1.7 pp
+3.0 pp
+3.6 pp
+3.2 pp
+1.2 pp
+0.1 pp
−1.6 pp
—

Fusion Finance Ltd · FUSION

—
—
—
—
—
—
—
—
—
−0.7 pp
−0.6 pp
+2.3 pp
+6.7 pp
+9.5 pp
+5.0 pp
−0.0 pp
−4.8 pp
−8.2 pp
−4.7 pp
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+1.4 pp
−1.0 pp
—

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
—
—
—
—
—
—
—
−3.7 pp
−0.6 pp
+1.0 pp
+3.5 pp
+3.2 pp
+4.1 pp
+2.9 pp
+0.7 pp
−0.7 pp
−1.8 pp
—
12 · compare level, then change

Valuation Against Growth & Quality

Satin Creditcare Network Ltd has the lowest P/BV ÷ ROE among the 7 Finance & Investments - Microfinance companies compared here, at 0.08×. Northern Arc Capital Ltd is next at 0.11×. The same company also holds the lowest P/BV, at 0.93×. 6 of 7 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Satin Creditcare Network Ltd has the lowest comparable P/BV ÷ ROE at 0.08×, 27.3% below Northern Arc Capital Ltd. Only 6 of 7 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.

LeaderSatin Creditcare Network Ltd · 0.08×
Gap27.3% versus #2 · Northern Arc Capital Ltd
Persistence0/8 recent comparable periods
Coverage6/7 companies · 62 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
1Satin Creditcare Network Ltd SATIN0.1
2Northern Arc Capital Ltd NORTHARC0.1
3Muthoot Microfin Ltd MUTHOOTMF0.2
4CreditAccess Grameen Ltd CREDITACC0.3
5Arman Financial Services Ltd ARMANFIN⚠ unverified0.4
P/BVlowest P/BV
1Satin Creditcare Network Ltd SATIN0.9
2Spandana Sphoorty Financial Ltd SPANDANA1.1
3Northern Arc Capital Ltd NORTHARC1.2
4Fusion Finance Ltd FUSION1.4
5Muthoot Microfin Ltd MUTHOOTMF1.5
Valuation · company comparison
6/7 level · 7/7 change
All-company data · latest reported quarter
CompanyP/BV ÷ ROEP/BVReported
CreditAccess Grameen Ltd CREDITACC0.23.0Jun 2026
Arman Financial Services Ltd ARMANFIN⚠ unverified0.21.7Mar 2026
Muthoot Microfin Ltd MUTHOOTMF0.11.0Mar 2026
Satin Creditcare Network Ltd SATIN0.11.0Jun 2026
Northern Arc Capital Ltd NORTHARC—1.4Jun 2026
Fusion Finance Ltd FUSION—1.2Mar 2026
Spandana Sphoorty Financial Ltd SPANDANA—0.9Jun 2026
Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

0.5
0.4
0.3
0.2
0.1
0.1
0.2
0.2
0.1
0.1
0.1
0.2
0.1
0.2
—
0.4
—
0.5
0.2
—

CreditAccess Grameen Ltd · CREDITACC

1.3
0.4
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.1
0.2
0.3
1.1
0.9
0.4
0.2
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
—
—
—
—
—
0.1
0.0
0.1
0.1
0.1
1.4
—
1.1
0.2
0.1
—

Satin Creditcare Network Ltd · SATIN

—
0.2
0.1
0.0
—
0.1
0.0
0.0
0.1
0.1
0.1
0.1
0.1
0.1
0.3
0.2
0.1
0.1
0.1
—

P/BV · reported quarter history

Arman Financial Services Ltd · ARMANFIN⚠ unverified

3.7
3.8
4.1
5.0
3.7
3.9
5.3
8.9
5.1
4.5
3.8
4.9
2.1
1.6
1.6
2.2
1.8
1.8
1.7
—

CreditAccess Grameen Ltd · CREDITACC

2.8
2.5
3.5
4.0
3.5
3.3
3.4
4.7
4.0
4.4
4.0
4.0
2.9
1.9
2.2
3.0
3.2
2.8
2.6
3.0

Fusion Finance Ltd · FUSION

—
—
—
—
—
—
4.0
3.7
4.0
3.5
2.8
3.0
1.4
1.1
0.9
1.2
1.9
1.4
1.2
—

Muthoot Microfin Ltd · MUTHOOTMF

—
—
—
—
—
—
—
—
—
2.3
1.2
1.5
1.4
1.0
0.7
0.8
1.0
1.1
1.0
—

Northern Arc Capital Ltd · NORTHARC

—
—
—
—
—
—
—
—
—
—
—
—
—
1.1
0.8
1.1
1.2
1.1
0.9
1.4

Satin Creditcare Network Ltd · SATIN

0.4
0.5
0.5
0.4
0.6
0.8
0.6
0.8
1.2
1.3
1.2
1.1
0.9
0.6
0.6
0.7
0.6
0.6
0.6
1.0

Spandana Sphoorty Financial Ltd · SPANDANA

—
—
1.0
—
—
1.7
1.4
1.9
2.3
2.8
2.1
1.9
1.4
0.8
0.6
0.7
0.8
1.1
0.8
0.9
13 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Finance & Investments - Microfinance comparison names 8 specific ways its own evidence can mislead, all listed below. All 7 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 3 have second-feed figures withheld because the two sources disagree.

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 draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
  • 3 companies are 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: Funding base have fewer than three usable current readings.
14 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 7 Finance & Investments - Microfinance 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 2026-07-31.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · 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 standing3 cross-checked · 1 unverified · 3 withheld, of 7 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.

15 · questions investors ask, short speakable answers

Finance & Investments - Microfinance company comparison FAQs

These 24 answers restate the Finance & Investments - Microfinance comparison above in question form. Every one is computed from the same 7 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

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

Finance & Investments - Microfinance has outperformed NIFTY 500 by 31% over 52 weeks and 20.7% over 13 weeks. 7 of 7 covered companies beat NIFTY on Mansfield relative strength, while 2 of 7 beat the sector itself.

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

CreditAccess Grameen Ltd leads with income of ₹6,378 crore, based on 7 of 7 comparable companies through Jun 2026.

Which Finance & Investments - Microfinance company is growing fastest?

Northern Arc Capital Ltd has the fastest current income growth at 21.1%, across 7 of 7 comparable companies.

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

Satin Creditcare Network Ltd ranks first at 85.6/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

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

Satin Creditcare Network Ltd has the lowest comparable P/BV ÷ ROE at 0.08, among 6 of 7 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Finance & Investments - Microfinance 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.

What is the Nifty Finance & Investments - Microfinance index?

The Nifty Finance & Investments - Microfinance index tracks India's listed Finance & Investments - Microfinance companies as a single basket. This page follows the same 7 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Finance & Investments - Microfinance sector rather than to its largest constituent. Figures are as of Jun 2026.

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

Ranked by this page's four-factor score, Satin Creditcare Network Ltd places first among 7 listed Finance & Investments - Microfinance companies, followed by CreditAccess Grameen 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 - Microfinance stocks are listed in India?

This comparison covers 7 listed Finance & Investments - Microfinance 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 - Microfinance company is the biggest?

CreditAccess Grameen Ltd is the largest, with trailing-twelve-month income of ₹6,378 crore, ahead of Satin Creditcare Network Ltd at ₹3,210 crore. That covers 7 of 7 companies with comparable reporting through Jun 2026.

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

CreditAccess Grameen Ltd earns the most, at ₹1,211 crore of trailing-twelve-month net profit, from 7 of 7 comparable companies. CreditAccess Grameen Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Finance & Investments - Microfinance lender has the best asset quality?

Fusion Finance Ltd reports the lowest gross NPA ratio at 3.2% — lower is better — across 3 of 7 lenders. Read the direction as well as the level: a rising NPA ratio off a low base can matter more than a high but falling one.

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

CreditAccess Grameen Ltd leads on return on assets at 2.4%, across 5 of 7 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 - Microfinance stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Satin Creditcare Network Ltd screens cheapest at 0.08×. Only 6 of 7 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.

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

Finance & Investments - Microfinance has outperformed NIFTY 500 by 31% over the last 52 weeks and 20.7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 7 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

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

Satin Creditcare Network 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 - Microfinance company scores highest for research priority?

Satin Creditcare Network Ltd scores 85.6 out of 100 with 82% evidence confidence, from 30.8 points on growth and earnings, 18.4 on capital efficiency, 17 on valuation and 19.4 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 - Microfinance companies does this comparison cover, and over what period?

It compares 7 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 - Microfinance sector?

The 7 Finance & Investments - Microfinance companies on this page carry ₹44,513 crore of combined market value. CreditAccess Grameen Ltd is the largest at ₹25,534 crore, about 57% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

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

The median price-to-book ratio across the 7 Finance & Investments - Microfinance companies on this page is 1.4×, measured on the 7 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 2026-08-05.

How is the Finance & Investments - Microfinance sector performing?

7 of the 7 covered Finance & Investments - Microfinance companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 31% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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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