SMFL Services Limited (formerly SMILE Microfinance)
- Unlisted share
- Financial Services
- ISIN INE786V01012
At a glance
Income
FY21
₹57.84 Cr
−14.5%on FY20What the company earned in the year, before its costs.
Loss for the year
FY21
₹-8.88 Cr
The company spent more than it earned in the year.
Net worth
FY21
₹136 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
- SMFL Services Limited (formerly SMILE Microfinance)
- ISIN
- INE786V01012
- Sector
- Financial Services
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹81.18
- 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 SMFL Services Limited (formerly SMILE Microfinance)
S.M.I.L.E. Microfinance is a Tamil Nadu company that used to lend small sums to groups of women in Tamil Nadu and a few other states as an RBI-registered microfinance NBFC. It sold its whole microfinance business, assets and liabilities, to Northern Arc Capital in a slump sale completed on 12 April 2022 and has not carried on microfinance since, so the company that remains is what was left after that sale. At the time of the last rating note the US social-impact investor Developing World Markets held about two-thirds of the shares and Dr S. Gurushankar, son of the founder Dr N. Sethuraman, about 16%, with the rest spread over roughly 11,000 women members of the public. The company has since been renamed SMFL Services Limited, the name under which it now appears in the global LEI register, while the depository still lists its shares under the old name.
Written from: connect.acuite.in, acuite.in, api.gleif.org, nsdl.com
Financials
Ask for the numbers before you decide.
Revenue, profit, book value and the latest annual report are shared by the desk on request, so what you see is the current set and not an old figure left on a web page.
Ask for the financials- Sector
- Financial Services
- ISIN
- INE786V01012
- Year of incorporation
- 1995
- Main shareholders
- Developing World Markets (DWM), about 66.64%; Dr S. Gurushankar (promoter family), 15.59%
- Key people
- MD & CEO: Murali Srinivas
Read from: Acuité Ratings press release, 10 November 2022, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Return on equitycalculated
-6.5%
For every ₹100 of the owners' money, the company lost ₹6.5 in the year.
- Indicative price
- ₹81.18
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2020-21. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
SMFL Services Limited (formerly S.M.I.L.E. Microfinance Limited). As published in the company's audited reports. GrowFast has not audited them.
Income, year by year
₹ crore. The darkest bar is the latest year.
FY20 to FY21: ₹67.65 Cr to ₹57.84 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY20 to FY21: ₹12.44 Cr to ₹-8.88 Cr.
| Particulars | FY20 | FY21Latest |
|---|---|---|
| Total income (net interest income plus other income, as defined by Acuité) | 67.65 | 57.84▼15% |
| Profit after tax | 12.44 | -8.88▼171% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Acuité Ratings press release, 13 August 2021, Acuité Ratings press release, 10 November 2022.
Credit rating. ACUITE BBB on ₹250 crore of bank facilities, reaffirmed and withdrawn by Acuité on 10 November 2022 at the company's request; no rating outstanding since (10 November 2022) Acuité Ratings press release, 10 November 2022
Ownership
Shareholding pattern
Who owns the company
As of 10 November 2022 (rating note)
66.6%Developing World Markets (DWM)
- Largest holder
- 66.6%
- Top 2 together
- 82.2%
- Holders named
- 2
- Developing World Markets (DWM)66.64%
- Dr S. Gurushankar15.59%
- Total82.23%
Leadership
Management
Murali Srinivas
Managing Director & CEO
V. S. Padmanaban
Director representing the promoter
Corporate calendar
Events
- 10 Nov 2022Credit ratingAcuité reaffirmed and withdrew its BBB rating on ₹250 crore of bank facilitiesOpen
- 12 Apr 2022Business saleSlump sale of the entire microfinance business to Northern Arc Capital completed; the company stopped microfinance lendingOpen
- 13 Aug 2021Credit ratingAcuité revised the outlook to Negative on asset-quality stress and withdrew the rating on ₹50 crore of debenturesOpen
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 SMFL Services Limited (formerly SMILE Microfinance) on WhatsAppIs the price shown for SMFL Services Limited (formerly SMILE Microfinance) 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 SMFL Services Limited (formerly SMILE Microfinance) 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 SMFL Services Limited (formerly SMILE Microfinance) 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.
Similar stocks
More in Financial Services
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 SMFL Services Limited (formerly SMILE Microfinance). 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.