Revenue and Profitability Trends
Over the past seven years, 5Paisa Capital’s net sales have shown a robust upward trajectory, rising from ₹62.76 crores in March 2019 to ₹359.57 crores in March 2025. Despite a slight dip in revenue in the fiscal year ending March 2024, the overall trend reflects strong growth, particularly notable from ₹108.22 crores in March 2020 to nearly ₹360 crores in the latest fiscal year. This growth underscores the company’s expanding market presence and operational scale.
Profitability has seen a marked improvement. The company transitioned from a net loss of ₹16.60 crores in March 2019 to a net profit of ₹68.23 crores by March 2025. Earnings per share (EPS) have mirrored this positive shift, climbing from a negative ₹7.92 in 2019 to a healthy ₹21.84 in 2025. Operating profit margins have also strengthened significantly, reaching 35.31% in the latest fiscal year compared to a negative margin in 2019. This improvement indicates enhanced operational efficiency and cost management.
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Cost Structure and Margins
5Paisa Capital’s expenditure profile reveals a focus on controlling costs amid rising revenues. Employee costs increased steadily from ₹25.84 crores in 2019 to ₹74.03 crores in 2025, reflecting investment in human capital to support growth. Other expenses, while fluctuating, remained substantial, peaking at ₹210.39 crores in 2022 before easing to ₹158.58 crores in 2025. Despite these costs, the company has managed to improve its gross and net profit margins, signalling effective cost containment and operational leverage.
Interest expenses have also been a factor, rising from ₹6.83 crores in 2019 to ₹23.80 crores in 2025, which is consistent with the company’s increased borrowing to fund expansion. However, the company’s ability to generate higher operating profits has offset these costs, resulting in a positive profit before tax of ₹91.22 crores in 2025, a significant recovery from losses in earlier years.
Balance Sheet and Asset Quality
The company’s balance sheet has strengthened considerably. Shareholder’s funds expanded from ₹138.24 crores in 2020 to ₹603.64 crores in 2025, supported by rising reserves and equity capital. Book value per share has more than tripled over five years, reaching ₹193.25 in 2025, reflecting enhanced net asset value for shareholders.
Total liabilities increased in line with business growth, reaching ₹1,654.83 crores in 2025. Notably, 5Paisa Capital carries no long-term borrowings, with short-term borrowings accounting for ₹217.42 crores. This conservative long-term debt position may provide flexibility in managing financial obligations. The company’s cash and bank balances have also grown substantially, exceeding ₹1,300 crores in 2025, indicating strong liquidity.
Cash Flow Dynamics
Cash flow from operating activities has shown volatility but improved markedly in the latest fiscal year, with ₹97 crores generated in 2025 compared to negative cash flows in prior years. This improvement is critical as it demonstrates the company’s ability to convert profits into cash, supporting ongoing operations and investment needs. Investing activities have consistently involved outflows, reflecting capital expenditure and strategic investments, while financing activities have fluctuated, including repayments and fresh borrowings.
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Summary of Historical Performance
In summary, 5Paisa Capital has exhibited a commendable financial turnaround over the last several years. From a modest revenue base and net losses in 2019, the company has expanded its top line substantially while achieving consistent profitability since 2021. Improved margins, rising earnings per share, and a stronger balance sheet underscore the company’s enhanced financial health. The growth in cash reserves and positive operating cash flows further reinforce its operational strength and liquidity position.
While the company has increased its short-term borrowings to support growth, the absence of long-term debt and rising shareholder equity provide a solid foundation for sustainable expansion. Investors may view 5Paisa Capital’s historical performance as indicative of a business that has successfully navigated early challenges to establish a profitable and scalable model in the competitive financial services sector.
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