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SK Finance ₹685 ▼ 8.1% 1M
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SK Finance Unlisted Shares

Financial Services Vehicle finance NBFC

SK Finance is a Jaipur based NBFC that mainly funds used commercial vehicles, cars and tractors for small operators in rural and semi-urban India. It had 535 branches and an AUM of ₹74,248.53 million as of December 31, 2023.

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Indicative price
As of 23 Oct 2026
₹685 ▼ 8.05% in 1 month
Dealer quotes: ₹660 – ₹685 across 2 dealers
Key facts

SK Finance share details

Lot size
100 shares
Min. investment
₹68,500
Face value
₹1
Implied market cap
₹1,197 Cr
Shares outstanding
17,467,402
Founded
1994
Headquarters
Jaipur, Rajasthan
Website
skfin.in
ISIN
INE124N01039
CIN
U65923RJ1994PLC009051
Lock-in after IPO
6 months
Price history

SK Finance share price chart

1Y change
-8.05%
High
₹745
Low
₹685

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About SK Finance

SK Finance Limited is a non-banking finance company (NBFC) headquartered in Jaipur, Rajasthan. It began in 1994 as Ess Kay Auto Finance Private Limited and took its present name in 2021. The RBI classifies it as an NBFC-Middle Layer. The company's main business is vehicle finance. It lends mostly against used commercial vehicles (excluding medium and heavy ones), cars and tractors. It also does MSME loans. Its customers are largely self-employed, mid to low-income borrowers in rural and semi-urban areas, many with limited access to formal credit. Scale, from the restated numbers in its 2024 DRHP: total revenue from operations was ₹13,027.68 million in FY23, up from ₹8,143.82 million in FY22, and profit for the year was ₹2,227.86 million. Assets under management (AUM) were ₹60,431.29 million at March 31, 2023 and ₹74,248.53 million for the vehicle financing vertical at December 31, 2023. It ran 535 branches at December 31, 2023. These are the restated figures filed in the DRHP; later annual reports were not available to us, so newer numbers are not shown. The promoters are Rajendra Kumar Setia, Yash Setia and Rajendra Kumar Setia HUF. They held 43,323,124 equity shares, or 32.26% of the pre-offer capital, at the time of the DRHP. Private equity investors including TPG Growth, Norwest Venture Partners and Evolvence are also shareholders and are selling shareholders in the proposed IPO. On the IPO, SK Finance filed its DRHP with SEBI for an offer of up to ₹22,000.00 million. This is a fresh issue of up to ₹5,000.00 million and an offer for sale of up to ₹17,000.00 million. We do not predict dates or prices. Unlisted shares of a company like this trade off-market between private parties, so the price shown here is only indicative and can differ from any deal you may be offered.

Strengths

  • Revenue from operations grew from ₹8,143.82 million in FY22 to ₹13,027.68 million in FY23, and profit for the year rose from ₹1,428.74 million to ₹2,227.86 million.
  • AUM rose from ₹30,366.47 million in the vehicle vertical at March 2021 to ₹60,431.29 million at March 2023, showing fast loan book growth.
  • Branch network expanded from 344 branches at March 31, 2021 to 535 at December 31, 2023, which widens its reach in smaller towns.
  • Return on average net worth improved from 9.87% in FY21 to 13.01% in FY23, and return on average total assets was 2.91% in FY23.
  • Total equity grew to ₹27,382.96 million at December 31, 2023 from ₹18,337.40 million at March 31, 2023, giving a bigger capital base to lend against.
  • Gross Stage 3 loans were 1.94% of gross loans at March 31, 2023, down from 4.03% at March 31, 2021.

Risks

  • The business is concentrated in used vehicle finance. Used vehicles were 78.63% of vehicle financing AUM at March 31, 2023, so a slowdown in that segment would hurt it.
  • Borrowers are mostly mid to low-income, self-employed people in rural and semi-urban areas, and some are new to credit, so defaults can rise in a weak economy.
  • Net cash used in operating activities was ₹22,434.03 million in FY23 even though profit was ₹2,227.86 million, because loans are growing fast and funded by borrowing.
  • Funding is mostly debt. Borrowings other than debt securities were ₹53,281.82 million and debt securities ₹17,149.60 million at March 31, 2023, against equity of ₹18,337.40 million.
  • Gross non-performing assets ratio rose from 2.83% at March 31, 2022 to 3.11% at March 31, 2023 and was 4.60% at December 31, 2023.
  • Impairment on financial instruments rose to ₹917.46 million in FY23 from ₹162.85 million in FY22, which can squeeze profit if credit quality weakens.
  • Its numbers here are from a 2024 DRHP, so they may be out of date, and the IPO has no confirmed date or price.
  • The company is an NBFC and RBI rules on capital, asset classification and lending can change its costs and growth.
Financials

SK Finance financial performance

Revenue, profit and balance-sheet figures by fiscal year.

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY23Latest FY22 FY21
Revenue (₹ Cr) 1,303 814 673
PAT (₹ Cr) 223 143 91
PAT Margin (%) 17.10 17.54 13.54
RoNW (%) 12.15 8.95 9.38
EPS (₹) 19.13 12.62 9.04
Total Assets (₹ Cr) 9,056 6,232 4,291
Net Worth (₹ Cr) 1,834 1,596 971

Swipe the table sideways for earlier years →

Leadership

Management team

Rajendra Kumar Setia
Managing Director and Chief Executive Officer
Promoter and executive director on the board.
Yash Setia
Whole-time Director
Promoter and whole-time director on the board.
Amar Lal Daultani
Chairperson and Non-Executive Independent Director
Chairs the board.
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FAQs

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Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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