Berar Finance Limited
- Unlisted share
- Financial Services
- ISIN INE998Y01017
At a glance
Sales
FY26
₹358 Cr
+21.4%on FY25What the company earned from its customers in the year.
Profit
FY26
₹36.23 Cr
+12.2%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹697 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹499 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Berar Finance Limited
- ISIN
- INE998Y01017
- Sector
- Financial Services
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹480.15
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Berar Finance Limited
Berar Finance is a Nagpur-based deposit-taking non-banking finance company registered with the RBI and classed in the middle layer. It lends mainly against two-wheelers, along with four-wheelers, secured MSME loans and personal loans, through about 165 branches across Maharashtra and eight other states. The founding Jawanjar family and its holding company are the promoters with a little under 29%, while private equity and impact funds such as Maj Invest, Amicus Capital, Abler Nordic and First Bridge hold most of the rest.
Written from: berarfinance.com
Listing status. Equity shares are not listed. The company describes itself as a debt-listed entity: its privately placed non-convertible debentures are listed on BSE Limited. Berar Finance annual report 2025-26
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Financial Services
- ISIN
- INE998Y01017
- Year of incorporation
- 1990
- Registered office
- Nagpur, Maharashtra
- Promoter group
- Jawanjar family (Maroti Jawanjar, Sandeep Jawanjal and relatives) and Avino Capcons Pvt Ltd; promoter and promoter group held 28.75% on a paid-up capital basis including convertible preference shares
- Key people
- Chairman: Rajesh Vasudevan (Independent Director, w.e.f. 19 May 2026); Managing Director: Sandeep Jawanjal; CFO: CA Yogesh Tahalyani; Chairman Emeritus: CS Maroti Jawanjar (w.e.f. 1 April 2026)
- Employees
- 2,735 people
- Face value per equity share
- ₹10
- Equity shares outstanding
- 1,45,16,996 shares
- CIN
- U65929MH1990PLC057829
- Official website
- berarfinance.com
Read from: Berar Finance annual report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
17.6×
At this price you pay ₹17.6 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
1.4×
At this price you pay ₹1.4 for every ₹1 of net worth on the company's books.
Profit margincalculated
10.1%
Out of every ₹100 of sales, ₹10.1 was left as profit.
Return on equitycalculated
7.3%
For every ₹100 of the owners' money, the company made ₹7.3 of profit in the year.
Debt to equitycalculated
2.31×
The company has borrowed ₹2.31 for every ₹1 of its owners' money.
Lenders and finance companies normally borrow far more than other businesses.
- Indicative price
- ₹480.15
- Market valuecalculated
- ₹697 Cr
- price × shares
- No. of shares
- 1,45,16,996
- EPS
- ₹27.26
- Book value per share
- ₹343.49
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Berar Finance Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹218 Cr to ₹358 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹17.08 Cr to ₹36.23 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Total revenue from operations | 217.89 | 251.36 | 294.6 | 357.71▲21% |
| Other income | 0.07 | 0.45 | 0.37 | 0.24▼35% |
| Total income | 217.96 | 251.81 | 294.96 | 357.95▲21% |
| Depreciation, amortization and impairment | 3.96 | 4.68 | 4.96 | 5.76▲16% |
| Finance costs | 100.41 | 103.86 | 130.18 | 155.68▲20% |
| Profit before tax | 21.73 | 29.95 | 42.26 | 43.71▲3% |
| Profit for the year | 17.08 | 22.18 | 32.3 | 36.23▲12% |
| Earnings per equity share (basic) (₹) | 13.85 | 17.98 | 26.18 | 27.26▲4% |
| Gross assets under management (AUM) | n/a | n/a | 1,383.06 | 1,792.02▲30% |
| Gross NPA (%) (%) | n/a | n/a | 4.43 | 3.72▼16% |
| Capital to risk-weighted assets ratio (%) (%) | n/a | n/a | 22.28 | 25.09▲13% |
| Impairment on financial instruments | 30.68 | 39.07 | 31.24 | 41.43▲33% |
| Interest income | 207.6 | 229.46 | 266.84 | 324.08▲21% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Berar Finance annual report 2025-26, Berar Finance annual report 2023-24.
Credit rating. IND BBB+/Stable, India Ratings and Research, non-convertible debentures, affirmed 27 July 2026 (27 July 2026) India Ratings rating action hosted on company website
Ownership
Shareholding pattern
Who owns the company
As of 31 March 2026
45.5%Institutional Investors
- Largest holder
- 45.5%
- Top 3 together
- 99.8%
- Holders named
- 5
- Institutional Investors45.53%
- Promoter & their Group28.75%
- Public25.51%
- Corporates0.18%
- Investors Education and Protection Fund0.03%
- Total100.00%
Read from: Berar Finance annual report 2025-26
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 16 Jan 202677,862 equity shares of ₹10 allotted at ₹610.05 each (₹4.75 crore); alongside, 4,098 Series B CCPS were allotted at the same price (₹0.25 crore). | Preferential allotment (private placement) | Equity shares | ₹610.05 | ₹5 Cr |
| 20 Oct 202514,01,525 equity shares of ₹10 allotted at ₹610.05 each (₹85.50 crore); alongside, 73,765 Series B CCPS were allotted at the same price (₹4.50 crore). | Preferential allotment (private placement) | Equity shares | ₹610.05 | ₹86 Cr |
| 18 Oct 20257,00,763 equity shares of ₹10 allotted at ₹610.05 each (₹42.75 crore); alongside, 36,882 Series B CCPS were allotted at the same price (₹2.25 crore). | Preferential allotment (private placement) | Equity shares | ₹610.05 | ₹43 Cr |
Read from: Berar Finance annual report 2025-26
Leadership
Management
Rajesh Vasudevan
Chairman (Independent Director), w.e.f. May 19, 2026
Sandeep Jawanjal
Managing Director
CA Yogesh Tahalyani
Chief Financial Officer
CS Deepali Balpande
Chief Compliance Officer & Company Secretary
CS Maroti Jawanjar
Chairman Emeritus (w.e.f. April 1, 2026); Executive Chairman up to March 31, 2026
Varun Bhalla
Independent Director
CA Annapurna Dubey
Independent Director
CA Avishek Addy
Non-Executive Director
Read from: Berar Finance annual report 2025-26
Corporate calendar
Events
- 16 Sept 2026AGM36th AGM called to adopt FY2025-26 accounts and approve a final dividend of ₹1 per shareOpen
- 27 Jul 2026Credit ratingIndia Ratings affirmed the NCD rating at IND BBB+/StableOpen
- 19 May 2026Board changeIndependent director Rajesh Vasudevan became ChairmanOpen
- 1 Apr 2026Board changeFounder Maroti Jawanjar moved from Executive Chairman to Chairman EmeritusOpen
- 10 Dec 2025EGMMembers approved cancelling unsubscribed shares, a further preferential offer and amended Articles of AssociationOpen
- 20 Oct 2025Share allotmentSecond and largest tranche of the ₹610.05-per-share preferential issue allotted (14,01,525 equity shares)Open
- 9 Oct 2025EGMMembers approved a higher authorised capital and a preferential issue of equity shares and Series B CCPSOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Berar Finance Limited on WhatsAppIs the price shown for Berar Finance Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Berar Finance Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Berar Finance Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Berar Finance Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.