SG Finserve share price today

SG Finserve Ltd's share price was ₹708.55 at the close on 4 November 2026. It has been rising for 30 weeks. That is 22.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹333 and ₹709, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today SG Finserve Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 11 years the share price moved +5,110% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 6 quarters in a row, profit up on a year earlier for 6 quarters in a row and highest quarterly profit in 16 quarters.

1. Revenue up on a year earlier for 6 quarters in a row

   In the September 2026 quarter revenue was ₹161 crore, +114.7% on a year earlier.

   Why: Revenue rose because the company lent more and its loan book reached a record high.

   From the earnings call on 16 Oct 2026.

2. Profit up on a year earlier for 6 quarters in a row

   In the September 2026 quarter profit was ₹59 crore, +110.7% on a year earlier.

   Why: Profit rose because the company lent more and kept collections tight while holding costs down.

   Next results: check whether profit for the whole year stays above Rs 225 crore.

   From the earnings call on 16 Oct 2026.

3. Highest quarterly profit in 16 quarters

   Profit of ₹59 crore in the September 2026 quarter is the highest of the last 16 quarters.

   Why: Profit hit a record because the company made many more loans in the first half.

   Next results: check that collection discipline stays intact as the loan book grows.

   From the earnings call on 16 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), SG Finserve reported total income of ₹161 crore, up 114.7% from ₹75.0 crore a year earlier, and a profit of ₹59.0 crore, up 110.7% from ₹28.0 crore.

SG Finserve results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

SG Finserve's management discussed these results on a call held on 16 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Income and profit in ₹ crore.

SG Finserve closed at ₹708.55 on 4 November 2026, up 81.8% from ₹389.65 a year earlier (7 November 2025) and up 3,469.5% over five years. Its highest weekly close since March 2016 was ₹716.15 on 26 May 2023.

SG Finserve share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

354 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: SG Finserve closed at ₹708.55, up 3.0% on the week and up 12.1% on the month. 16 Oct 2026: SG Finserve held its results call for July to September 2026. Management guided: AUM 30-35% yearly growth for forward 12 months and next 2-3 years to about ₹11,000 crore, near-term exit near ₹7,000 crore.

Earlier

• Results for July to September 2026: Total income up 114.7% and profit up 110.7% on a year earlier.
• Our read, 19 Jul 2026: SG Finserve fills the working capital gap in anchor-dealer supply chains (tripartite enforcement: direct-to-anchor payment, stop-supply on default), achieving zero NPA across ₹52000+ Cr cumulative disbursements. April to June 2026 delivered profit before tax of ₹72 crore (82% on a year earlier AUM growth, nil NPAs, ROA 5.1%) and management now guides ₹300 crore FY27 profit before tax to 75% on a year earlier growth.

Our read of the business

SG Finserve fills the working capital gap in anchor-dealer supply chains (tripartite enforcement: direct-to-anchor payment, stop-supply on default), achieving zero NPA across ₹52000+ Cr cumulative disbursements. April to June 2026 delivered profit before tax of ₹72 crore (82% on a year earlier AUM growth, nil NPAs, ROA 5.1%) and management now guides ₹300 crore FY27 profit before tax to 75% on a year earlier growth.

April to June 2026: Record profit before tax ₹72 crore (27% on the previous quarter), AUM ₹4552 crore (82% on a year earlier), nil NPAs, FY27 guide of ₹300 crore profit before tax confirmed, factoring AUM reaches ₹225 crore.

Our read after the April to June 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

SG Finserve has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. SG Finserve Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 16 October 2026, SG Finserve's management guided: AUM 30-35% yearly growth for forward 12 months and next 2-3 years to about ₹11,000 crore, near-term exit near ₹7,000 crore.

“However, considering that growth has been front-loaded, we are revising our leverage from a debt-to-equity ratio of 3x to 4x.”Vinay Gupta, on the call for July to September 2026

What management guided

• Debt to net worth ceiling lifted to 4x from 3x, asset to equity within 4x on board-approved headroom.
• Overall yield around 13% from about 12.5% interest plus 0.5-0.7% fees, 11-15% band by risk, benchmark pass-through if costs rise.
• Nil net non-performance, return on assets above 4.5% and cost to income below 15% to be maintained.
• Supply chain around two-thirds of book for next 2-3 years with digital near 10% at scale.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 16 October 2026.

What is changing at SG Finserve, from the latest results and calls: aum compounding at 80%+ on a year earlier with improving per-quarter run rate, and factoring platform: second revenue lane within the same ecosystem.

• AUM compounding at 80%+ on a year earlier with improving per-quarter run rate. AUM ₹4552 crore (Jun 2026, 82% on a year earlier); management goals ₹5500 crore by FY27 exit (25% on the previous quarter pace); 52 anchor mandates with ₹7700 crore MOU value underpin the pipeline. ⚠ estimate
• . ROE moves from 10% to 14-16% mechanically as leverage expands from 2.2x to 3x while maintaining ROA at 5%; no equity dilution needed. ⚠ estimate
• Promoter re-concentration, warrant conversion drives conviction signal. Promoter shareholding increased from 48.38% (Sep 2025) to 52.92% (Mar 2026) to 56.95% (Jun 2026), an 8.57pp increase in two quarters, representing warrant conversions at ₹450/sh creating direct alignment. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the April to June 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

APL Apollo or a major anchor group faces a balance-sheet event, causing dealers to stop procuring, which would dry up the disbursement pipeline at the source rather than the credit end.

Each change stops working if

• AUM compounding at 80%+ on a year earlier with improving per-quarter run rate: APL Apollo or a major anchor group faces a balance-sheet event, causing dealers to stop procuring, which would dry up the disbursement pipeline at the source rather than the credit end.
• Promoter re-concentration, warrant conversion drives conviction signal: Promoter pledging emerges against the newly converted shares, converting the concentration signal from positive (alignment) to negative (collateral risk).

The main risks

• Management communication, sixth reversal deepens credibility deficit: Jan 2026: 'Nothing material is going to happen in next 2, 3 years. You can mark our words on this.' Jul 2026: insurance broking incorporated, IRDAI license applied, AIF/ARC/GIFT City approved. ✓ fact
• APL Apollo ecosystem concentration and steel sector cyclicality: APL Apollo ecosystem originally 100% of book; now one-third of total AUM with active de-risking, but construction+steel still 30-35% of AUM. Sector downturn or APL group stress cascades. ✓ fact
• Regulatory license risk, historical precedent of business halt: RBI imposed ₹28.30 lakh penalty (Oct 2024) for operating outside CoR conditions; prior license renewal caused 6-7 month halt and AUM rundown from ₹2000 crore to ₹1200 crore. ✓ fact

Our read after the April to June 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When SG Finserve reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Closing book versus guided exit path with average-to-exit gap normalizing - checks whether front-load converts to steady compounding.

SG Finserve is on one of our India lists: Momentum stocks.

SG Finserve Ltd earned ₹59.0 Cr of net profit in the Sep 2026 quarter, +110.7% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹128 Cr. That is 36.6% of the quarter's revenue. The same quarter a year earlier earned ₹28.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹128 Cr (+58.0% on the year before).

Why profit moved: revenue changed +114.7% on a year earlier and the margin moved −0.7 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +83.8% and revenue +103.5%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY26-Q4. FY26 closes Rs 128 Cr PAT (58% YoY), AUM Rs 3936 Cr (75% YoY); factoring launches at Rs 175 Cr; FY27 guidance 35-40% AUM growth

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

SG Finserve Ltd reported ₹161 Cr of income in the Sep 2026 quarter, +114.7% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 55.7% a year on average. The last full year, FY26, came in at ₹334 Cr.

For a bank, revenue is everything it earns: interest on its loans plus fees and other income.

Why this happened. The March 2026 launch demonstrated rapid traction: Rs 50 Cr quarterly increment in Q1 FY27, representing a 29% QoQ growth in a newly commercialized product. At a 5% penetration rate of the total AUM, the factoring book has significant runway to grow to 15-20% without altering the portfolio risk profile. Management cited fewer than 1% of Indian banks offering factoring, structural penetration tailwind.

The last four reported quarters add to ₹488 Cr.

FY26 revenue was ₹334 Cr, +96.5% on the year before.

Recent pace: the last four quarters grew +103.5% on average, against 55.7% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +104.2%, against +62.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +85.1%, against +53.9% a year (accelerating).

FY26-Q4. FY26 closes Rs 128 Cr PAT (58% YoY), AUM Rs 3936 Cr (75% YoY); factoring launches at Rs 175 Cr; FY27 guidance 35-40% AUM growth

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

SG Finserve Ltd's net margin was 36.6% in the Sep 2026 quarter, 0.7 percentage points lower than the same quarter a year ago. Across 11 years it has been between 0.0% and 100.0%. The latest quarter is within that range.

Net margin is what the bank keeps from every ₹100 of revenue after every cost, provision for bad loans and tax. It is the clearest single margin we can read for a lender.

Why: the net margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

FY26-Q4. FY26 closes Rs 128 Cr PAT (58% YoY), AUM Rs 3936 Cr (75% YoY); factoring launches at Rs 175 Cr; FY27 guidance 35-40% AUM growth

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

SG Finserve Ltd does not report loan-quality figures this page can read, so this section says so rather than guess. No bad-loan figures are filed in a form this page can read, and none are guessed from the profit line. The income, margin and return sections carry what this business does report.

Gross NPA is the share of the loan book where repayments have stopped. Net NPA is what is left after the money the lender has already set aside for those loans. Falling is good; rising is a warning.

Why: loan quality drives a lender, but its details (new bad loans, recoveries, money set aside) are not in our data for this company. The sections around this one carry what we can back up.

SG Finserve Ltd's revenue was ₹334 Cr in FY26, +96.5% on the year before, so the loan book is growing. The latest quarter was +114.7% on a year earlier. The net margin on that income is 36.6%, −0.7 percentage points on a year ago.

We read the loan book through revenue: when the book grows, revenue grows with it. It is only a rough guide, because interest-rate changes and fee swings can move it a few points in any year.

Why this happened. From Mar 2023 (Rs 100 Cr range) to Jun 2026 Rs 4552 Cr represents a 45x book build in 12 quarters, driven by anchor mandates across construction, auto, and industrial sectors. The deepening strategy (expand dealer network under existing anchors) and widening strategy (new geographies, factoring) create two independent growth engines. The tripartite model means disbursement capacity (not underwriting risk) is the bottleneck, and Rs 3000-3500 Cr of untapped bank limits as of April 2026 provides the disbursement runway for FY27 goals.

Interest income stands in for the size of the loan book; changes in interest rates can move it a few points in any year.

In short: a lender grows well when its loan book grows, its margin stays steady and its loans stay clean. Gross NPA is the loan-quality figure this page uses.

SG Finserve Ltd's P/BV is 2.9×, in the middle of its own history: higher than 64% of past readings. Its usual P/BV (the middle reading) is 2.6×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

For a bank or lender we compare the price with book value, the net worth on its balance sheet. P/BV is how many rupees the market pays for each ₹1 of that net worth. Below 1× means the market values it at less than its net worth.

Why the multiple is low: this lender earns about 10% a year on its equity. A lender that earns less on its net worth is valued lower for each rupee of it, and that gap usually closes only if returns improve.

Why the multiple is where it is: over the past year book value grew while the price moved +81.8%. Price and book value moved together, so the multiple stayed in its range.

Where the price move came from: over 5 years the price moved +104.4% a year; about +70.1% a year came from book-value growth and about +34.3 percentage points from the multiple (the market paying more); over 10 years the price moved +48.9% a year; about +32.5% a year came from book-value growth and about +16.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus book-value growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the book value trend underneath matters more than the multiple.

Worked out from its price on 27 August 2026, SG Finserve Ltd's share price assumed profit growth of about 20.4% a year. Today its P/BV is 2.9×, higher than 64% of its own last 11 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

SG Finserve Ltd's business is giving mixed signals. Growth has been steadily positive, but ROE at 11.7% is below the 12% level needed to call it steady growth. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

SG Finserve Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: MID EXPANSION.

NOT YET CHECKED

From the numbers. The cycle is in mid-expansion.

From the price. Price stage 2, week 30, above its 200-day line, relative strength falling.

From the research. Capital-efficient supply chain NBFC compounding AUM at 80%+ YoY with zero NPAs; Q1 FY27 PBT of Rs 72 Cr (27% QoQ) signals inflection toward the guided Rs 300 Cr FY27 PBT, leverage expansion from 2.2x to 3x is the ROE…

Where they disagree. The cycle is in mid-expansion.

The test written in advance. NPA emergence as book seasons, thesis-killer risk. Measured by: NPA emergence as book seasons, thesis-killer risk Quarterly NPA percentage: any non-zero GNPA figure in Q2 or Q3 FY27 results. by the next result.

The test written in advance. Management communication, sixth reversal deepens credibility deficit. Measured by: Management communication, sixth reversal deepens credibility deficit by the next result.

What the company does. SG Finserve fills the working capital gap in anchor-dealer supply chains (tripartite enforcement: direct-to-anchor payment, stop-supply on default), achieving zero NPA across Rs 52000+ Cr cumulative disbursements. Q1 FY27 delivered PBT of Rs 72 Cr (82% YoY AUM growth, nil NPAs, ROA 5.1%) and management now guides Rs 300 Cr FY27 PBT, 75% YoY growth.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: ROE 9-10% in FY25-26 is below comparable NBFCs trading at 15%+ ROE, suggests subpar returns The research reads it further: ROE of 9-10% is structurally depressed by underleveraging, not by business quality weakness. With equity Rs 1539 Cr and leverage only 2.2x, the NBFC's assets are underfunded relative to its capital base. ROA of 5.1% (Q1 FY27) is exceptional for any NBFC, the only reason ROE is low is the deliberate equity-first growth phase (Rs 1100 Cr → Rs 1539 Cr equity through retained earnings and warrant conversions). As leverage moves toward 3x on this ROA, ROE mechanically reaches 15%. The weak ROE is the setup, not the problem.

• 1 · Operating leveragequiet
• 2 · Value-added mixquiet
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchbuilding
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 12 · New product launch: building. AUM Rs 4552 Cr (Jun 2026, 82% YoY); management goals Rs 5500 Cr by FY27 exit (25% QoQ pace); 52 anchor mandates with Rs 7700 Cr MOU value underpin the pipeline. What proves it keeps working: AUM compounding at 80%+ YoY with improving per-quarter run rate. It stops working if APL Apollo or a major anchor group faces a balance-sheet event, causing dealers to stop procuring, which would dry up the disbursement pipeline at the source rather than the credit end.

Sources: our stock research file (19 July 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.