Hasti Finance (531387)

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

Strengths

• Deep discount to book value: P/B of 0.44 means the market prices ₹18.34 of stated book value at ₹8.04.
• Stated book value per share of ₹18.34 provides apparent asset backing even after recent losses.
• Small market cap of ₹9 Cr means a successful asset recovery or restructuring can move per-share value significantly.
• Listed on NSE/BSE provides some transparency and exit liquidity for a micro-cap NBFC.

Concerns

• Latest quarter has zero revenue and zero net profit; sales growth of -72.73% signals severe business contraction.
• ROE of -63.70% and ROCE of -50.56% indicate significant destruction of shareholder capital.
• Piotroski F-score of 2/9 implies poor financial health and possible distress.
• Insufficient disclosure: promoter holding and debt/equity are unavailable, so governance and leverage risk cannot be quantified.

AI Analysis

Let me start with the most important number: ₹8.04 against a stated book value of ₹18.34. The market is offering me 44 paise for every rupee of book value. But in this business, book value is only as good as the loan assets behind it. The latest quarter shows zero sales and zero net profit; sales have collapsed by almost 73%. An NBFC that earns no interest income cannot compound wealth. With ROE at -63.70% and ROCE at -50.56%, the company is losing ground rapidly. The Piotroski F-score of 2 out of 9 is a warning flag I cannot ignore. There is no meaningful P/E because there is no earnings power, and dividend yield of 0.00% means I am not being paid to wait. This is not a compounder, no wide moat, no pricing power, no franchise. It is a candidate for an asset play, but only after I have audited every receivable. Benjamin Graham taught me to buy assets for less than they are worth, but also to demand safety. Here I have insufficient data: no promoter holding, no debt/equity ratio, no explanation for the zero-revenue quarter. I would watch this from the sidelines. If the books are honest and the assets recoverable, the discount is massive. If they are not, the losses will eat the remaining book value. Price-to-book isn't a conclusion; it is the beginning of due diligence. I need to see positive earnings, better disclosure, and a credible plan before I commit a rupee.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer