Viji Finance Ltd. (VIJIFIN) AI Stock Analysis

• Market Cap: ₹451.73M
• Dividend Yield: N/A
• Average Volume (3M): 25.74K
• Price to Earnings (P/E): 9.8
• Beta (1Y): -0.56
• Revenue Growth: 39.46%
• EPS Growth: N/A
• Country: IN
• Employees: 7
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Credit Services
• EPS (TTM): 0.07
• Shares Outstanding: 142,500,000
• 10 Day Avg. Volume: 12,331
• 30 Day Avg. Volume: 25,738
• PEG Ratio: -75.85
• Price to Book (P/B): 1.46
• Price to Sales (P/S): 13.42
• P/FCF Ratio: -10.45
• 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: 50 Neutral
• Price Target: ₹3.00 ▲(5.63% Upside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held down primarily by weak financial performance, especially negative operating/free cash flow and low net profitability. Technicals are supportive due to an uptrend and positive MACD, but overbought readings raise near-term risk. Valuation is modest on P/E, providing some offset.

Positive Factors

High recent revenue growth

Material reported revenue growth (~60% YoY) signals demand traction and the ability to scale lending or products. Sustained top-line expansion can drive operating leverage, improve coverage of fixed costs, and create a platform to rebuild profitability and reserves over the coming months.

Strong gross profit margin

A structurally strong gross margin indicates the core lending or service economics are profitable before overhead. This margin buffer supports resilience to credit stress or marketing spend, and provides long-term capacity to restore net margins if operating costs and provisioning are managed prudently.

Stable equity base and positive ROE

A stable equity base combined with positive ROE provides capital resilience and shows the company can generate returns on shareholder capital. This supports lending capacity, cushions losses, and improves access to funding compared with undercapitalized peers over the medium term.

Negative Factors

Negative operating and free cash flow

Consistently negative operating and free cash flow indicate the business does not generate sufficient internal cash to fund operations or capex. Over months this raises reliance on external financing, elevates liquidity and refinancing risk, and limits ability to self-fund growth or build loss-absorbing reserves.

Substantial EBIT losses and low net profitability

Substantial EBIT losses translate into weak net profitability and signal operational inefficiencies or high operating expense relative to revenue. Persisting operating losses drain capital, impede accumulation of retained earnings, and make it harder to convert revenue growth into sustainable shareholder value.

Elevated leverage / high debt-to-equity

A relatively high debt-to-equity ratio increases financial vulnerability by raising interest burden and refinancing sensitivity. In a stressed or tightening funding environment, elevated leverage restricts strategic flexibility and magnifies downside risk to earnings and solvency over the medium term.

Viji Finance Ltd. Business Overview & Revenue Model

Company Description

Viji Finance Limited, a non-banking finance company, provides financial products and services in India. It offers corporate finance, infrastructure/project finance, and personal finance. The company was formerly known as Panjon Finance Limited and changed its name to Viji Finance Limited in September 2012. Viji Finance Limited was incorporated in 1994 and is based in Indore, India.

How the Company Makes Money

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Viji Finance Ltd. Financial Statement Overview

Summary

Overall financials are weak: low net profitability driven by substantial EBIT losses and volatile revenue growth, combined with consistently negative operating and free cash flow. The balance sheet is somewhat supportive with a stable equity base and positive ROE, but leverage risk remains elevated.

Income Statement

Viji Finance Ltd. shows mixed performance on profitability metrics. The gross profit margin is strong, indicating efficient production and service delivery. However, the net profit margin is low due to substantial EBIT losses, indicating operational inefficiencies. Revenue growth is volatile, with significant growth in the latest year, suggesting inconsistency in sales performance.

Balance Sheet

The balance sheet shows moderate financial health. The debt-to-equity ratio is relatively high, indicating potential leverage risk. However, the equity ratio is stable, reflecting a solid asset base. Return on equity is positive, suggesting that the company is generating returns for its shareholders.

Cash Flow

Cash flow analysis reveals challenges in cash management. Operating cash flow is consistently negative, indicating potential issues with core business cash generation. Free cash flow is also negative, showing strain on liquidity. The reliance on financing cash flow suggests dependency on external funding.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	24.04M	23.25M	19.25M	20.84M	12.20M	9.20M
Gross Profit	11.21M	10.38M	10.23M	16.97M	9.74M	7.92M
EBITDA	-1.46M	-377.00K	5.54M	10.01M	5.78M	6.42M
Net Income	1.57M	1.69M	1.20M	4.33M	4.40M	4.47M
Balance Sheet
Total Assets	344.41M	350.54M	253.63M	225.54M	174.63M	157.44M
Cash, Cash Equivalents and Short-Term Investments	53.54M	54.94M	2.42M	1.80M	914.00K	6.02M
Total Debt	115.49M	125.97M	120.54M	91.95M	46.75M	35.52M
Total Liabilities	134.80M	136.66M	131.87M	105.17M	58.59M	45.80M
Stockholders Equity	209.61M	213.88M	121.75M	120.37M	116.04M	111.64M
Cash Flow
Free Cash Flow	9.08M	-29.87M	-28.45M	-44.43M	-16.34M	7.25M
Operating Cash Flow	9.08M	-28.79M	-28.39M	-24.73M	-10.55M	7.25M
Investing Cash Flow	0.00	-1.08M	-61.00K	-19.59M	-5.79M	-197.61K
Financing Cash Flow	-10.48M	82.39M	28.59M	45.20M	11.24M	-2.98M

Viji Finance Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.84
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VIJIFIN, the sentiment is Positive. The current price of 2.84 is above the 20-day moving average (MA) of 2.37, above the 50-day MA of 2.53, and below the 200-day MA of 2.90, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 77.56 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:VIJIFIN.

Viji Finance Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LFIC	55 Neutral	₹197.25M	9.57	―	1.70%	-93.62%	-115.49%
VIJIFIN	50 Neutral	₹451.73M	9.83	―	―	39.46%	―
KHANDSE	48 Neutral	₹246.35M	-16.07	―	―	-12.64%	-390.34%
ONELIFECAP	48 Neutral	₹552.55M	-3.17	―	―	-62.38%	21.41%
GLFL	44 Neutral	₹159.77M	138.56	―	―	―	―
TCIFINANCE	41 Neutral	₹180.09M	-8.05	―	―	797.65%	―

Viji Finance Ltd. Corporate Events

Viji Finance Files SEBI Compliance Certificate, Reports No Demat or Remat Requests in Q3 FY2025

Viji Finance Limited has submitted to the stock exchanges a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025. The company’s registrar and transfer agent, Ankit Consultancy Pvt. Ltd., confirmed that no dematerialisation or rematerialisation requests were received during the quarter, indicating a stable shareholding pattern with no changes in the form in which investors are holding the company’s securities.