Hybrid Financial Services Ltd. (HYBRIDFIN) AI Stock Analysis

• Market Cap: ₹676.74M
• Dividend Yield: N/A
• Average Volume (3M): 31.57K
• Price to Earnings (P/E): 20.2
• Beta (1Y): 0.68
• Revenue Growth: -5.50%
• EPS Growth: -12.14%
• Country: IN
• Employees: 3
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.37
• Shares Outstanding: 29,436,275
• 10 Day Avg. Volume: 90,102
• 30 Day Avg. Volume: 31,575
• PEG Ratio: 0.10
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 8.65
• P/FCF Ratio: -9.62
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ₹25.00 ▲(24.94% Upside)

The score is driven primarily by strong financial performance (rapid growth, very high profitability, and a low-leverage balance sheet), supported by a positive technical trend with constructive momentum. Valuation is a modest constraint with a mid-range P/E and no dividend yield data, while negative free cash flow is the key financial risk.

Positive Factors

High profitability margins

Sustained very high operating and net margins indicate strong pricing power and business-model efficiency in fee-based services. High margins provide durable capacity to fund product development, absorb shocks, and support reinvestment or shareholder returns even if revenue growth moderates.

Very low financial leverage

Minimal debt and a high equity ratio give the company durable financial flexibility to pursue growth, fund negative cash flow periods, and withstand market stress without significant refinancing risk. Low leverage supports capital allocation optionality over the medium term.

Strong reported revenue increase

A large year-over-year revenue increase suggests successful client acquisition and deeper traction for fee and fintech offerings. If sustained, such growth expands AUM and recurring fee income, reinforcing the platform’s ability to scale margins and create long-term competitive momentum.

Negative Factors

Weak cash conversion

Persistent negative operating and free cash flow despite accounting profits signals low cash quality and potential working-capital or accrual issues. Over months, this constrains reinvestment, may require external funding, and increases sensitivity to credit costs or liquidity shocks.

Extremely small workforce

A headcount of three implies heavy reliance on partners, outsourcing, or key individuals. This creates execution and scalability risk in client servicing, compliance, and product rollout, and raises operational concentration risks that can impede durable growth in asset/wealth businesses.

Declining EPS trend

A negative EPS growth rate indicates the company’s reported earnings per share have fallen, which can reflect margin pressure, one-offs, or dilution. Over the medium term this undermines investor confidence and reduces internal capital available for strategic investments.

Hybrid Financial Services Ltd. Business Overview & Revenue Model

Company Description

Hybrid Financial Services Limited, together with its subsidiaries provides management consultancy services in India. The company offers debt recovery advice and consultancy services in financial, secretarial, commercial, legal, direct and indirect taxation, other levies, statistical, accountancy, and other fields. The company also engages in share and stock broking; investment; and depository participant and marketing of financial products. The company was formerly known as Mafatlal Finance Company Limited and changed its name to Hybrid Financial Services Limited in 2008. Hybrid Financial Services Limited was incorporated in 1986 and is based in Mumbai, India.

How the Company Makes Money

HYBRIDFIN generates revenue through multiple streams, including management fees from its investment and asset management services, which are charged as a percentage of assets under management (AUM). Additionally, the company earns advisory fees for financial consulting services provided to clients, particularly in mergers and acquisitions, corporate finance, and wealth planning. The fintech solutions offered by HYBRIDFIN may also contribute to revenue through subscription fees or transactional charges associated with the use of its platforms. Strategic partnerships with banks and financial institutions further bolster revenue by enabling cross-selling opportunities and expanding the customer base. Overall, the combination of fee-based income and technology-driven services forms the backbone of HYBRIDFIN's revenue model.

Hybrid Financial Services Ltd. Financial Statement Overview

Summary

Strong income statement and balance sheet quality (high revenue growth and very strong margins; low leverage and high equity ratio). The main offset is weak cash generation, with negative operating cash flow and negative free cash flow.

Income Statement

Hybrid Financial Services Ltd. demonstrated robust revenue growth with a significant increase of 39.41% in the latest year, along with a strong net profit margin of 53.55% for the most recent period. The EBIT and EBITDA margins also indicate healthy profitability at 56.52% and 58.00% respectively, reflecting efficient operational management. The consistent upward trend in revenue and profitability metrics highlights the company's strong financial performance in the capital markets industry.

Balance Sheet

The balance sheet is solid, featuring a low debt-to-equity ratio of 0.04, which indicates minimal financial leverage and suggests low financial risk. Furthermore, the company maintains a high equity ratio of 78.61%, showcasing substantial shareholder equity relative to total assets. The return on equity (ROE) is impressive at 9.79%, underscoring effective management in generating profits from shareholder investments.

Cash Flow

Cash flow analysis reveals a negative free cash flow, primarily due to negative operating cash flow. However, the operating cash flow to net income ratio is negative, suggesting challenges in converting accounting profits into cash flow. Despite the negative free cash flow, the company has managed to maintain stable cash reserves, reflected in its high cash and cash equivalents.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	40.70M	40.98M	34.36M	34.39M	34.14M	23.57M
Gross Profit	28.97M	29.54M	23.13M	31.83M	25.23M	17.43M
EBITDA	33.64M	39.67M	22.59M	11.33M	19.91M	5.90M
Net Income	32.30M	38.37M	19.40M	5.07M	16.33M	3.97M
Balance Sheet
Total Assets	0.00	498.66M	478.96M	375.17M	396.10M	400.71M
Cash, Cash Equivalents and Short-Term Investments	0.00	207.16M	186.21M	163.43M	154.79M	147.12M
Total Debt	0.00	14.00M	21.01M	21.00M	21.00M	21.04M
Total Liabilities	-391.93M	106.73M	178.82M	147.08M	154.00M	158.44M
Stockholders Equity	391.93M	391.93M	300.14M	228.09M	242.11M	242.27M
Cash Flow
Free Cash Flow	0.00	-36.83M	7.72M	9.40M	844.00K	-170.00K
Operating Cash Flow	0.00	-36.36M	7.90M	27.00K	6.01M	-42.00K
Investing Cash Flow	0.00	16.54M	15.14M	8.95M	2.20M	7.79M
Financing Cash Flow	0.00	-7.30M	-264.00K	-342.00K	-542.00K	-6.09M

Hybrid Financial Services Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.01
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HYBRIDFIN, the sentiment is Positive. The current price of 20.01 is below the 20-day moving average (MA) of 20.04, below the 50-day MA of 20.05, and above the 200-day MA of 17.63, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 60.68 is Neutral, neither overbought nor oversold. The STOCH value of 72.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HYBRIDFIN.

Hybrid Financial Services Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HYBRIDFIN	76 Outperform	₹676.74M	20.18	―	―	-5.50%	-12.14%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
NAGREEKCAP	63 Neutral	₹341.50M	1.90	―	―	-39.65%	-9.12%
HBSL	54 Neutral	₹456.03M	-2.90	―	1.36%	-143.39%	-166.54%
21STCENMGM	53 Neutral	₹433.65M	-2.07	―	5.12%	―	―
KHANDSE	49 Neutral	₹285.25M	-15.36	―	―	-12.64%	-390.34%
BLUECHIP	40 Underperform	₹192.46M	-6.73	―	―	―	―

Hybrid Financial Services Ltd. Corporate Events

Hybrid Financial Services Ltd. Releases Q2 2025 Financial Results

Hybrid Financial Services Ltd. announced its unaudited financial results for the quarter and half-year ending September 30, 2025. The company reported a total income of Rs. 88.73 lakhs for the half-year, with a profit before tax of Rs. 24.89 lakhs. The financial results were approved by the Board of Directors, highlighting the company’s commitment to financial transparency and regulatory compliance. This announcement reflects the company’s operational performance and its ongoing efforts to maintain a stable financial position in the market.