TSF INVESTMENTS LIMITED
NSE: TSFINVINE202Z01029(was SUNDARMHLD)·Financial ServicesMicrocap 250·Listed 2018
₹456.85▼ ₹0.05  (−0.01%)
52W: ₹332 – ₹702 · Vol: 1.3L shares · Close 25 Sept
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Annual report FY26 — 2.58 MB · Shareholding pattern — Jun 2026 · All filings
AI equity note (bull/bear, numbers, sources) — coming soon
Management guidance consistency — coming soon

Latest filings

NSE announcements · newest first
Copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results along with copy of minutes.
Voting result21 Sept 2026 PDF
All filings →
P/E (TTM)
20.4×
EPS ₹22.37
P / Book
1.68×
BVPS ₹272
ROE
9.1%
FY26, avg equity
Net margin
53.8%
FY26
Revenue YoY
+70.9%
Q1 FY27
Net profit YoY
−21.1%
Q1 FY27
Debt / equity
0.04×
₹220 Cr debt
Div. yield
2.44%
₹11.15 in 12 months
From NSE filings (consolidated) and the last close.
Shareholding Pattern Jun 2026
Promoters
55.0%—
FIIs
3.3%▲ 0.07
DIIs
4.3%▼ 0.48
Retail
25.4%▲ 0.16
Others
11.5%▲ 0.25
Promoter pledge: none reported
Peer Comparison
CompanyP/EP/BROEMargin
BSE₹1.3L Cr46.1×19.51×44.8%51.5%
CDSL₹27,546 Cr58.6×14.06×24.5%39.7%
TSFINV₹10,147 Cr20.4×1.68×9.1%53.8%
GATECHDVR₹62 Cr7.2×0.58×10.9%39.3%
BILVYAPAR₹14 Cr––––
DCMFINSERV₹11 Cr––––
Financial Services: the companies closest in market value. Computed from each company's NSE filings (up to Q1 FY27) and the last close; hover a column for its definition.
Forensic Flags3 Watch
Operating cash flow was 0.38× net profit
Cumulative over FY22–FY26 (5 years).
Receivables grew 3474% against revenue growth of 537%
FY26: debtor days moved from 14 to 77.
Inventory grew 31843% against revenue growth of 537%
FY26: inventory days moved from 1 to 56.
11 checks within their thresholds
Free cash flow was negative in 0 of the last 5 years
Operating cash flow less capital expenditure, as filed.
Debt to equity is 0.04×
As at 2026-03-31; it was 0.00× at 2023-03-31.
Profit before interest and tax covers finance costs 8.2×
FY26.
Other income is 10% of profit before tax
FY26.
Exceptional items above 5% of pre-tax profit in 0 of the last 5 years
FY22–FY26.
Effective tax rate averaged 27%
Tax over pre-tax profit, last 3 years. The base corporate rate is about 25%.
Share count changed +0.0% in three years, net of bonuses and splits
From 2023-03-31 to 2026-03-31. Shares issued for mergers, placements, conversions and stock options all count.
Promoter holding is 54.99%, +0.02 points over a year
2026-06-30 against 2025-06-30.
No promoter shares are pledged
Shareholding pattern as at 2026-06-30.
No auditor change or resignation filings in three years
From NSE announcements on record.
Results were filed late in 0 of the last 8 quarters
Slowest filing came 52 days after the period end.
Computed from NSE filings (consolidated). Colours follow fixed thresholds, shown on hover. These are facts about the filings, not advice.
Formula Scores
Piotroski F-score: 5 of 9 · FY to 2026-03-31
one point for each of nine tests on profitability, leverage and liquidity, and operating efficiency, comparing the year with the one before
  • ✓ Return on assets positive: 9.08 — profit after tax over the year's opening total assets, %
  • ✓ Operating cash flow positive: 266.3 — ₹ crore
  • ✗ Cash flow above profit (accruals): -264 — operating cash flow less profit after tax, ₹ crore
  • ✓ Return on assets improved: 0.76 — change in ROA, percentage points
  • ✗ Long-term borrowings to assets fell: 0.78 — change in long-term borrowings over total assets, percentage points
  • ✗ Current ratio improved: -88.51 — change in current assets over current liabilities
  • ✓ No new shares issued: 0 — change in share capital, %
  • ✗ Gross margin improved: -45.42 — revenue less material cost over revenue, change in percentage points
  • ✓ Asset turnover improved: 0.137 — revenue over the year's opening total assets, change
Inputs: profit after tax ₹530 Cr (2026-03-31) · profit after tax ₹412 Cr (2025-03-31) · total assets ₹6,748 Cr (2026-03-31) · total assets ₹5,837 Cr (2025-03-31)
The paper's bands: 8–9: the paper's high group; 0–2: the paper's low group
Source: Joseph Piotroski, "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers", Journal of Accounting Research, 2000
Altman Z-score: not computed · FY to 2026-03-31
no market capitalisation for the equity term
Graham number: 378.9 ₹ per share · FY to 2026-03-31
√(22.5 × earnings per share × book value per share): the price at which P/E × P/B = 22.5 (a P/E of 15 at a P/B of 1.5)
  • earnings per share: 23.49
  • book value per share: 271.63 — owners' equity over shares (paid-up capital / face value)
Inputs: earnings per share 23.49 (2026-03-31) · owners' equity ₹6,033 Cr (2026-03-31) · paid-up capital ₹111 Cr (2026-03-31) · face value 5 (2026-03-31)
a number the book uses as a ceiling for a defensive investor's purchase price; it is arithmetic on two reported figures, not a valuation
Source: Benjamin Graham, The Intelligent Investor (1949; the 22.5 in the 1973 edition's criteria for the defensive investor)
Sloan accrual ratio: 4.19 % of assets · FY to 2026-03-31
(profit after tax − operating cash flow) / average total assets
Inputs: profit after tax ₹530 Cr (2026-03-31) · operating cash flow ₹266 Cr (2026-03-31) · total assets ₹6,748 Cr (2026-03-31) · total assets ₹5,837 Cr (2025-03-31)
how much of the year's profit was not cash; the paper sorts companies by this and reports the top decile's later returns
Source: Richard Sloan, "Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?", The Accounting Review, 1996
Each score is its published formula applied to the company's own filings (consolidated); open one for the tests, the inputs and the paper. Arithmetic on the filings, not a view on the stock.