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Mahaveer Finance India Limited
Mahaveer Finance India Limited (MFIL) Incorporated in 1981, was registered as a deposit-taking NBFC with the Reserve Bank of India (RBI). The company was taken over by the current management in 1987. In 2015, the company surrendered its deposit-taking license to the RBI and was converted into a non-deposit-taking NBFC-asset finance company. It is engaged in used commercial vehicle and passenger vehicle financing in Tamil Nadu, Andhra Pradesh, Telangana and Puducherry through its network of 107 branches as on March 31, 2026.
Sector Focus
Finance (NBFC)
Highest Credit Rating
BBB+ Stable by CRISIL
Listing (Debt)
BSE
Date of NBFC License by RBI
2015
Business & Products
Commercial Vehicle Financing
Promoter
Mr. N Mahaveerchand Dugar
Key Management Personnel
Mr. Mahaveer Chand Dugar
Executive Vice Chairman
Mr. Deepak Dugar
MD & CEO
Bonds issued by Mahaveer Finance India Limited
Financial Performance
| Particulars | FY26 (₹ in cr) | FY25 (₹ in cr) | FY24 (₹ in cr) |
|---|---|---|---|
| AUM | 1324 | 1007 | - |
| NET WORTH | 419.21 | 219.85 | 172.47 |
| REVENUE | 213.04 | 172.07 | 130.02 |
| PAT | 29.91 | 21.10 | 16.64 |
| CAR% | 39.08 | 25.12 | 28.22 |
| GNPA% | NA | 3.15 | 2.11 |
| NNPA% | NA | 2.28 | 1.09 |
Credit Rating
| Credit Rating Agency | Rating | Rating Outlook | Date |
|---|---|---|---|
| CRISIL LIMITED | BBB+ | Stable | as on 23rd June, 2026 |
Top Lenders to Mahaveer Finance India Limited
State Bank of India
SIDBI
Hinduja Leyland Finance
MAS Financial Services
Muthoot Finance
IDFC First Bank
ESAF SFB
Strength
Extensive experience of the promoters
Adequate capitalization metrics
Moderate earnings profile
Diversified resource profile
Weakness
Average asset quality
Adequate capitalization metrics
Geographically concentrated operations
Important Links
Source:
Investor Presentation, Information Memorandum & Rating Rationale of Mahaveer Finance India Limited
