Investment Overview

Hindon Mercantile Limited is an unlisted company operating in the Financials sector (NBFC). Hindon Mercantile Limited is a non-banking financial company engaged in financing and investment activities under a conservative, compliance-focused framework. Public filings and profiles reference board oversight, statutory reporting and operations aligned with RBI guidelines for NBFCs. The company…

Strengths

• Powerful Capital Infusion: Raised ₹223.65 Cr in 9MFY25, significantly boosting net worth and capital adequacy.
• Healthy AUM Growth: AUM rose from ₹675.78 Cr (FY24) to ₹1021.87 Cr (9MFY25) driven by robust disbursements.
• Focus on Green Finance: Strategic positioning in the EV and solar financing space supports ESG alignment and coming expansion capacity.

Key Risks

• Geographic Concentration: Over 50% of AUM concentrated in Uttar Pradesh, Delhi, and Bihar increases regional exposure exposure.
• Low Portfolio Seasoning: Rapid growth in latest years means restricted track record of asset results under stress cycles.
• Moderate Scale: Despite growth, operations remain moderate in size compared to larger peers in the NBFC sector.

Valuation View

The current unlisted market price is ₹717.75 per share with a market capitalisation of approximately ₹1644 crore. The company is currently unlisted and investors should factor in illiquidity risk and longer holding horizons. Investors are advised to review the full financial data and consult an advisor before investing.