Abans Financial Services Limited (AFSL) share price
₹201.00 on NSE as of 2026-10-07. +0.00% on the day. market cap ₹1,022 Cr. P/E 7.6. 52-week range ₹201.00 to ₹216.74. Financial Services.
Abans Financial Q1 FY27: ₹3,713 Cr of Revenue, ₹99.5 Cr of Operating Profit, and Fourteen Subsidiaries
At a glance
Abans Financial Services trades physical commodities, runs treasury operations, broking desks and a small lending book. Revenue for the three months to June 2026 was ₹3,712.76 crore. The same quarter a year earlier brought ₹1,893.81 crore, so the figure rose 96 per cent. Operating profit was ₹99.53 crore, and profit after tax attributable to owners was ₹61.95 crore. The same profit line a year earlier stood at ₹29.95 crore. Operating margin for the quarter was 2.7 per cent, against 0.2 per cent in the previous quarter.
Revenue in the March 2026 quarter had been ₹8,708.28 crore, so the top line fell sequentially. This is a business whose revenue swings by thousands of crore between quarters. The profit line moves by tens of crore over the same stretch. The March 2026 quarter had carried a loss of ₹3.87 crore.
The June segment disclosure puts Principal Investment and Treasury at ₹68.62 crore before tax. The same segment showed a negative ₹14.44 crore in the March quarter.
The quarter also carried a reversal of ₹5.17 crore in employee share option costs. Share options are a right granted to staff to buy shares later at a set price. The company says the reversal was booked after senior management personnel resigned during the quarter. Group employee benefit expenses therefore netted down to ₹5.76 crore for the quarter.
Elsewhere on the record, a new chief financial officer took office on 16 May 2026. The registered office also moved, and the group reports fourteen subsidiaries. A postal ballot covers related-party transactions of ₹12,875 crore for the year to March 2027. A postal ballot is a shareholder vote taken by post rather than at a meeting.
Introduction
Abans Financial Services Limited was incorporated in 2009 and spent its early years trading commodities. It now describes itself as a multi-asset, multinational financial services company. Its own list of activities runs to institutional broking, asset management and financial lending. Treasury operations and remittance services make up the rest of that description. Until recently the company traded under the name Abans Holdings Limited. Every filing still carries the former name in a parenthesis so persistent it has become part of the letterhead.
One row of the profit and loss account shows the scale of the change. Revenue was ₹4,377 crore in the year to March 2019. By the year to March 2022 it was ₹645 crore. In the year to March 2026 it was ₹23,874 crore. The top line fell by 85 per cent and then grew about 37 times inside one decade of accounts. Net profit stayed between ₹35 crore and ₹102 crore across the whole stretch.
The group works from Nariman Point in Mumbai and reports a presence in five countries. The list names the United Kingdom, Dubai, Shanghai and Hong Kong. Mauritius is the fifth, and the group holds 750,000 licences in the United Kingdom.
Subsidiaries are a broker member of the Dubai Gold and Commodities Exchange and an associate trade member of the London Metal Exchange. The group is a trader member of the Dalian Commodity Exchange, the Singapore Exchange and the Shanghai International Energy Exchange. It is also a trader member of the Shanghai International Gold Exchange and a registered Qualified Foreign Institutional Investor. The last of those is a licence to invest in Chinese markets.
In July 2024, subsidiary Abans Investment Managers Private Limited raised ₹9.88 crore in a Series A round. The group bought the portfolio management business of SATCO Capital Markets Limited. That business managed ₹148 crore of client money as on 30 September 2024. In April 2025 the company added asset management and trustee services to its business objects. Merchant banking and financial advisory work was added at the same time. It also planned to buy 327 equity shares of subsidiary Abans Capital Private Limited through a rights issue.
In August 2025 the board of Abans Broking Services Private Limited approved a scheme merging four sibling entities into itself. As on 31 March 2026 the scheme had exchange approval and sat with the Mumbai bench of the NCLT. The NCLT is the tribunal that must sanction company mergers in India. The 17th annual general meeting was scheduled for 10 September 2026.
Business model
The company runs three verticals, and they differ enormously in how much revenue they move.
Agency Business offers multi-asset global institutional trading in equities, commodities and currency. It also covers private client broking, asset management, investment advisory and wealth management. The customers named are corporates, institutions and high net worth individuals. Abans International Limited, a fund in the group, managed ₹909 crore as on 30 September 2024. Its flagship product is called The Global Arbitrage Fund, a name that states what the fund does. Arbitrage means taking the difference when the same asset trades at two prices at once.
Finance Business provides secured and unsecured term loans to individuals and small and medium enterprises across India. In the year to March 2024 the book was 61 per cent agri-commodity lending. Financial services took 10 per cent and other industries 29 per cent. The loan book of this financial services company is mostly warehoused crops.
Capital Business holds internal treasury operations, including trading in physical commodities. It adds exchange-based trading in foreign exchange, equities and commodities, plus investments and dividend income. In the year to March 2024 it was 90 per cent of segment revenue. Agency accounted for 7 per cent and Finance for 3 per cent.
The revenue split for that year explains the shape of everything else. Sale of commodities was about 84 per cent and sale of services about 6 per cent. Net gain on changes in the carrying value of financial assets was about 3 per cent. Interest on loans added about 3 per cent and interest on investments about 4 per cent. Physical commodities move through the books at enormous gross values and razor-thin spreads. Revenue for the year to March 2026 was ₹23,874 crore, against a market capitalisation of ₹1,023 crore. Overseas work was 56 per cent of the year to March 2024, domestic work 44 per cent.
For the three months to June 2026, Principal Investment and Treasury brought revenue of ₹3,666.94 crore. Fee based investment services brought in ₹42.45 crore of segment revenue. Lending and credit solutions brought ₹3.39 crore, and others and unallocable ₹0.59 crore. The same segments produce results before tax in a different order. Treasury produced ₹68.62 crore and fee based work ₹19.42 crore. Lending produced ₹2.57 crore before tax and the others ₹0.40 crore. The company's own segment note says assets and liabilities are used interchangeably across the segments. It adds that forcing an allocation between them would not be meaningful.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Abans Financial Services Limited.
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